Eight Secrets from a Serial Blogger

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Have you been thinking about blogging, but are concerned whether your writing skills will translate into effective online communications?

Increase your chances of success in getting your message to the right audience by avoiding the mistakes of others. This article offers eight simple suggestions its authors learned in the preverbal “school of hard knocks”.

Here they are:

1. Stick to a schedule. The correct blogging frequency is whatever connects with your audience. For some blogs that might be daily. For others, once a month is sufficient. The optimal blogging frequency is not critical. What is critical is to decide on a schedule, communicate it to your readers and stick to it! Avoid the temptation to over-commit. While most bloggers enjoy writing, it can be grueling.

2. Expand and enhance. Supplement your usual content by periodically sharing relevant quotes, articles and tips from others. You can also try using guest writers, treating your readers to different areas of expertise and points of view. A generous introduction to your guest author may result in them reciprocating on their blog, further expanding your following.

3. Keep posts short. Readers are looking for tidbits of actionable information, not detailed research. Keep posts short, preferably under 600 words. The average American reads less than 300 words per minute. Studies suggest 65% of visitors spend less than 2 minutes on a website. Therefore, an entry longer than 600 words will not be read in its entirety, if at all.

  • A better alternative to lengthy articles is to split them into multiple parts, posting them in consecutive entries. Begin each post with a review of what was discussed in the previous entry, and end with what to expect in your next post and when it will be shared.

4. Promote your blog. Add your blog’s web address to business cards, print media ads, letterheads, email signatures and so on. Adding a Quick Response Code to business cards and other medium is gaining popularity. A QR code allows Smartphone users to find your blog easily.

5. Use social media. Post summaries of blog posts on Facebook, Twitter, LinkedIn, etc. Exercise care to comply with each platform’s unique character limitations.

  • Since you will always end with a hyperlink to your blog, use a free URL shortener like https://bitly.com/ if pressed for space.
  • Post blog entries on SlideShare or other article marketing sites by uploading a pdf file. The last paragraph should be a brief “About the author” with a hyperlink to your blog.
  • Blog posts can be featured in your monthly newsletter to customers and friends.

6. Support online sharing. Add plug-ins or widgets on your blog to promote article sharing through Facebook, Twitter and other social media vehicles you believe are likely to help capture your target market. Allow readers to bookmark your URL to their list of favorite sites with the click of a button.

7. Encourage feedback. Always thank readers who post comments. Be respectful of opinions and suggestions, even if you disagree with them. While it is perfectly appropriate to delete spam (an inevitable byproduct of successful blogging) or comments with inappropriate language, deleting reader comments simply because you disagree discourages feedback. Periodically end posts by asking readers for comments, suggestions and ideas for future articles.

8. Don’t give up too quickly. Some experts believe it takes about 100 posts before you begin to build a following. Most bloggers become discouraged and give up before reaching that milestone.

© 2013 by Dale R. Schmeltzle

You Can Count on a Guy in a White Hat

whitehatAs an entire generation who grew up watching Gun Smoke, The Lone Ranger and a long list of other television westerns knows, good guys always wore white hats!

One of the greatest Hollywood clichés of all times, it is deeply ingrained within each of us that you could count on a stranger in a white hat! They were sure to be honest, kind, generous, courageous, moral and chivalrous.

That leaves the other guys, the ones in the black hats. Just as good defines evil, they were the anti-hero of every storyline, the exact opposite of guys in white hats. A man in a black hat was surely dishonest, cruel, self-centered, cowardly, immoral and boorish. Good guys and bad guys were always on opposite sides of an issue. Fortunately, good always triumphed in the end.

So it is not surprising that when it came time to pick names for two broad categories of search engine optimization (SEO) practices, a baby boomer somewhere choose white hat and black hat to describe the opposite ends of a long spectrum of internet marketing techniques and philosophies.

The stakes are high in this modern day gunfight. Fair or not, a potential customer who has never heard of your company has no choice but to equate your search engine results and the quality of your content with the prominence of your company among your peers and the value of your products or services!

A study of December 2010 Google searches for B2B and B2C businesses found the top 3 search engine rankings got 60% of all click throughs, with the first position enjoying a click through rate (CTR) of 36.4%. Page one listings got 8 times more clicks than page 2. CTR differences by ranking were even more dramatic for key words with more than 1,000 searches per month.

What then are the distinguishing characteristics of these opposing marketing camps? They hinge on the answer to a single question. Does the marketer play by the largely unwritten and frequently changing rules of the major search engines (Google, Yahoo and Bing control over 95% of the market) or not?

Just like the old Code of the West, white hats follow the rules. They focus on engaging and informing readers rather than manipulating search engine algorisms. Their procedures include writing key word rich text (without meaningless repetition), link building and paid advertising using pay per click ad words.

Black hats still refuse to play by any rules. Their techniques include email spam, keyword stuffing, article spinning (posting substantially similar content in multiple locations) and using hidden text to trick search engines.

What are the rewards for playing by the rules of this 21st century Code of the Internet? White hat marketing can be expected to produce slower but longer lasting organic search rankings. Black hat techniques will likely eventually be penalized by search engines, reducing rankings or eliminating the listing from their database.

What color is your hat?

© 2013 by Dale R. Schmeltzle

“LIKE” IF YOU REMEMBER MYSPACE

MySpaceIs it just me, or has there been an explosion of people posting nostalgic photos on Facebook and asking you to click “Like” if you can remember a black and white picture of some fifties TV icon or a once popular consumer product from your youth? Time has a way of reducing our past to warm, fuzzy memories. Heck, show me a photo of a macho guy enjoying a cigarette on the back of a horse and I might even forget that three of the Marlboro Man actors died of lung cancer!

Digital media has done more than merely provide a medium to share the recollections of our youth. It has greatly diminished the time span during which products and services move from broad acceptance and popularity to distant memories. Allow me to offer two well-known examples.

Gutenberg’s 1440 invention of the printing press revolutionized communication. It made possible the sharing of ideas and information through the mass production of books. It took another 555 years, until 1995, for an upstart company named Amazon to start selling those same books using something that had been introduced just three years earlier. That something was the Internet.

It took another 12 years to popularize eReaders like their famous Kindle. Within four years, Amazon was selling three times as many eBooks as hard covers. Their success obviously does not include a plethora of competitors including the hugely successful Apple iPad. It seems almost certain the paper book will soon be a candidate for Facebook friends to ask you to “Like” if you can remember owning one.

Still, 600 years from invention to impending obsolescence is not a bad run! Now consider a more recent service life span.

MySpace was introduced in August 2003, six months before Facebook. Just two years later, it was the most visited social networking site on the planet. Rupert Murdock was so excited about its prospects that he paid $580 million for it in 2005. In 2006, it reached 100 million accounts, a level that required 1,600 employees to support.

Facebook over took it in April 2008.

In June 2011, Murdoch’s News Corporation sold MySpace for $35 million, a 94% loss on their six-year investment. With uncharacteristic understatement, Murdoch pronounced the purchase a “huge mistake”.

These examples illustrate three critically important points for all 21st century marketers.

  1. Communication trends change faster than businesses can anticipate. Most lack the resources to manage that change.
  2. Faced with a constantly expanding stream of free choices, your target audience no longer uses communications channels popular just a few years ago.
  3. Neither do your successful competitors.

The cost of failure is high. Even the most carefully designed marketing communiqué, be it a press release, an ad campaign, a newsletter, etc., will fail if it is not transmitted in the optimal channel.

The only way to avoid that mistake is to communicate a consistent message and single brand to over-lapping audiences across multiple channels. That is what successful digital media marketing is all about.

© 2013 by CFO America, LLC

Lessons from Cool Hand Luke: Failures in Business Communications (Part 2)

Last week, I discussed the potentially dire consequences of using the wrong channels when communicating with customers. Paul Newman’s famous line from Cool Hand Luke, “What we have here is a failure to communicate” served as my theme.

I outlined nine milestones in communications, from the printing press to the Internet. Today, I conclude with a follow-up on how each of those communications channels has fared over the years.

More recent developments in the nine communication mediums include the following:

1. The days of printed books and newspapers may be numbered. Consider the following:

  • Although Amazon keeps its sales figures close to its corporate vest, reports by Bloomberg and other sources suggest it likely sold over eight million Kindles in 2010. Amazon’s January 27, 2011 press release reported, “Amazon.com is now selling more Kindle books than paperback books. Since the beginning of the year, for every 100 paperback books Amazon has sold, the Company has sold 115 Kindle books. Additionally, during this same time period the Company has sold three times as many Kindle books as hardcover books.” Those sales were achieved in spite of stiff competition from the Apple iPad and other eReaders.
  • In an industry financed by advertisers, newspapers now cost more to reach a similar audience than radio, magazines, or websites. The Newspaper Association of America expected ad revenue to drop 9.7% in 2009 after falling 16.5% in 2008.

2. In a press release issued November 12, 2010, the U.S. Postal Service reported a loss of $8.5 billion in fiscal year 2010. They delivered 6.1 billion fewer pieces of mail than the previous year. Labeled advertising mail, 273 million pieces of daily junk mail make up 47% of Postal Service volume, but only 25% of its revenue.

3. Struggling from its failure to win a federal contract to deliver mail, the Pony Express announced its closure on October 26, 1861, two days after the transcontinental telegraph connected Omaha to Sacramento. During an 18-month existence, it succeeded in reducing the cost of a 1/2 ounce letter by 80%.

4. Home phones are being replaced by cell phones and other mobile devices. Smartphone users can now perform virtually any function available on a computer. They can also scan product bar codes for instant price comparisons and download directions to local competitors. In October 2010, CTIA-The Wireless Association reported in their 50 Wireless Quick Facts that over 89% of handsets operating on wireless networks are capable of browsing the web.

5. With its market steadily evaporating since the 1975 invention of digital cameras, Kodak ended a 74-year run when it discontinued production of Kodachrome film in 2009. SEC filings reported a $210 million loss that year. Kodak filed for Chapter 11 bankruptcy in January 2012. They will no longer manufacture cameras, and will sell its film division. The digital camera was invented by a Kodak engineer.

6. A July 2008 report by Borrell Associates titled Say Goodbye to Yellow Pages estimated the industry would lose 39% of its revenue over the next five years as small businesses focus more on online advertising. It was forecast that 2008 print revenue of $12.7 billion would decrease to $7.8 billion by 2013. In an age of instant information, an increasing number of businesses are obviously questioning the wisdom of spending scarce marketing resources on a medium that will not be distributed until months after incurring the expense. Some estimates suggest that up to 20% of small businesses do not survive to see their Yellow Pages ad in print. Meanwhile, concerns over the environmental impact of discarded books are causing cities to explore advanced recovery fee ordinances that will add millions of dollars to industry costs.

7. The marketing impact of satellite radio remains to be seen. Sirius FM Radio reports almost 22 million subscribers in some highly desirable demographics. Yet, the public company has not traded above $3 a share in over four years.

8. A four-decade oligopoly by ABC, CBS and NBC began to crack by the 1980s. Having once controlled 99% of all broadcasts, their market share dropped to 32% by 2005 according to the Journal of Broadcasting & Electronic Media. The Fox Network now produces the highest rated show on TV (American Idol) and the longest running primetime show (The Simpsons). The increased popularity of cable TV, Internet access to programming and digital recording devices threaten to redefine television’s role as the “high end” communications media. Fortunately, the ability to embrace technological changes has allowed television to hold the average American’s attention for 4.7 hours a day (according to a 2008 Nielsen report) over 60 years after its introduction. Finally, NBC’s owner Comcast announced in January 2011 they were dropping the iconic peacock from their corporate logo. This announcement ended a 56-year television tradition that first trumpeted the arrival of color programming to an entire generation of mesmerized children. Curse you, Comcast!

9. Lastly, the traditional model of text dominated static communications on a free World Wide Web navigated via a handful of search engines is being challenged. New paradigms including pay per click advertising, video and yes, social media are quickly redefining it.

As I reflect on this timeline, it occurs to me that few people can anticipate, let alone shape communications in this accelerating stream of consumer driven changes. Names like Gates, Bezos, Zuckerberg and a handful of other young billionaires come to mind.

The rest of us do well just to keep up with it.

The goal of today’s successful small businesses should be to meet customers in whatever communication channels they choose at that moment and to educate and influence (never dictate) consumer behavior as best they can.

There is no “one-size-fits-all” magic formula for success, no one thing that will permanently solve marketing challenges or slow the pace of change. What worked yesterday may not work tomorrow because as Tony Robbins and others have said, “The past does not equal the future!” That much is clear from the timeline. There is simply no substitute for hard work, vision and continuous planning and experimentation.

However, there is also much cause for hope.

Don Bradley and Chris Cowdery’s exhaustive study Small Business: Causes of Bankruptcy had this conclusion: “Evidence suggests that failure rates of small businesses in the United States are related to the nature of a capitalistic market in relying on competition where only the strongest survive. The causes for small business failure and ultimately bankruptcy are many. A successful entrepreneur is, no doubt, the consummate businessperson who must be a jack-of-all-trades. It is evident that nearly all entrepreneurs have the opportunity to control their own destiny. Success is obviously not a guarantee, but nor is failure. A well-rounded businessperson who has carefully planned and prepared with a clear vision of who and what the company is will have an excellent opportunity for success.”

I also point out that many of the marketing ideas discussed in this blog would not have been possible just a few short years ago. Many more have been made easier and more cost efficient by recent technological developments and increased Internet-based competition.

I therefore challenge and encourage you to seize the opportunity to control your own destiny, to embrace change, to experiment with new ideas, and to learn from your triumphs and your disappointments in these exciting times. Your business will grow in the process.

I wish you great success in your efforts and I hope you have fun in your journey.

© 2012 by Dale R. Schmeltzle

Too Foolish To Fail

The big buzz on Wall Street is today’s planned IPO of Facebook. I hope it will reverse the recent downward trend (11 of the 12 last trading days were losers). Several months ago, a partner and I were discussing Mark Zuckerberg in the context of starting a new business. That discussion lead to a two-part post, which in honor of his IPO, I repeat in its entirety today.

My partner and I concluded that Mark’s phenomenal success with Facebook is the direct result of three “rookie” mistakes, none of which we would have made.

Those mistakes were:

  1. He was not the first to arrive at the social networking party. Rather than come up with an original idea, he improved on other people’s ideas. That never works. Either get to the market first or stay home, right?
  2. He waited too long to “cash out.” He should have jumped at the first opportunity to raise some serious “beer money” like a normal college kid. If only he had, he would be a millionaire today!
  3. He failed to exercise basic common sense! Anyone smart enough to get into Harvard should know that a dream of launching a worldwide business to redefine a major facet of society is destined to break your heart. Homer Simpson said it best, “Trying is the first step toward failure!”

Let’s analyze each of his mistakes in more detail. It turns out there is historical precedence to support his seemingly illogical behavior in committing Mistake #1.

For example, historians credit German engineer Karl Benz with inventing the automobile. He patented the first gasoline engine powered vehicle in 1885. That was 11 years before a thirty-year-old “techie” at the Edison Illuminating Company began experimenting with his Ford Quadricycle.

Henry Ford’s primary contribution to the automotive industry was to apply “best practices” manufacturing processes including interchangeable parts and a moving assembly line. By combining cost saving efficiencies with a social philosophy that included paying factory workers $5 per day (double the going wage), he transformed the automobile from an expensive curio for the idle rich to an affordable source of transportation for the masses.

Ford put his vision into words. He said, “I will build a car for the great multitude. It will be large enough for the family, but small enough for the individual to run and care for. It will be constructed of the best materials, by the best men to be hired, after the simplest designs that modern engineering can devise. But it will be so low in price that no man making a good salary will be unable to own one – and enjoy with his family the blessing of hours of pleasure in God’s great open spaces.”

With the benefit of 115 years of hindsight, it is clear his value proposition actually created a market where none previously existed. He sold 15 million Model Ts over its nineteen-year production run.  At one point, half of the cars in the world were “Tin Lizzies.” True to his value statement, he was eventually able to reduce the selling price to $290, a 65% reduction from its introductory price.

O.K., Mark, I’ll concede your first mistake was not a mistake after all. Astute late comers can still profit by improving on an inventor’s ideas and capitalizing on missed opportunities.

What about waiting too long to cash out?

I am frequently surprised at the short-term vision baby boomers adopt in their business planning. I often encounter entrepreneurs who hope to build a successful business and “cash out” in five years or less.

This view is a distraction from your value proposition, the very reason you went into business in the first place. Think about it. Customers are at best indifferent to your retirement plans. Would you pick a new dentist if you knew she planned to sell her practice in two years?

It also introduces a bias that will slant business decisions in favor of maximizing short-term cash flows at the expense of building long-term value. For example, owners will forego investments in customer service and product design if payoffs extend beyond their timeline. This situation is analogous to watching a runner round the bases as you chase a fly ball. There are already plenty of opportunities to falter in business without unnecessary distractions. Do not take your eye off the ball!

It seems counterintuitive that a college student, given the opportunity to finance what would have been a carefree life style, would follow a business plan that extended beyond the next frat party. To his credit, now 27-year-old Mark Zuckerberg has resisted the temptation to monetize his 24% stake in Facebook for 7 years. Instead, he has continued to lead the company according to his vision.

It is hard to argue with his success. Earlier this year, Goldman Sachs valued the private company at $50 billion. Mark kept his eye on the ball, even when faced with what would have been an irresistible temptation for us mere mortals. Cashing out four or five years ago would have cost him billions.

You were right, Zuck. My partner and I were….we were….well any way, you were right. Gloating is so not cool, Mark!

That brings me to his third mistake. Mark should have listened to the voices in his head that are quick to point out all the reasons why his grand plans would surely fail.

Abraham Lincoln once described a general who was unwilling to make decisions under pressure as “acting like a duck that had been hit on the head.” Fear of failure is a powerful motivator. It causes some of us to avoid decision making altogether.

Decision making is a cognitive process involving logic, reasoning and problem solving skills. Unfortunately, each of us enters that process with certain preconceived biases. We are often quick to listen to any voice that supports them. It is normal to exhibit a reluctance to move off those biases, even if faced with new facts, circumstances or opportunities. Therefore, the safe decision (i.e., to spend our career as a corporate wage slave rather than launch a new venture) is often the default decision.

Samuel Clemmons once said, “It’s not what you don’t know that will get you in trouble. It’s what you know for sure that just ain’t so.”

To his credit, Mark Zuckerberg did not let what he did not know about launching a business get in the way of his success. His vision was inspiring; his execution was courageous.

In the final analysis, my partner and I could take a lesson from him. So can you!

You proved all of your distracters wrong! Good luck in your IPO Mark.

 © 2012 by Dale R. Schmeltzle

WHAT A CPA KNOWS ABOUT MARKETING: MORE SALES AREN’T ALWAYS THE ANSWER

There is an old joke about a marketing executive who bought a truckload of melons from a farmer for $1 each. He advertised them for sale at $0.85. When his CFO asked how he planned make a profit, he proudly replied, “Volume!”

Does that sound absurd to you? Surely, the story must be a throwback to the days before we had MBAs and complex modeling systems to direct our every move.

May I be honest? I have a degree in accounting, and have done graduate work in finance, not marketing. I have never worked in a purely marketing or sales function. Any marketing professional worth his salt has probably forgotten more on the subject then I will ever know. That explains the often-asked question of why a CPA wrote a book called Highly Visible Marketing, and blogs about marketing related topics.

I do not see myself as writing about marketing; at least not as the average person understands the word. I write about a business approach that is foreign to many marketing professionals. It is largely unheard of among small businesses.

I call it marketing accountability.

I focus clients on improving cash flow by growing the bottom line, not the top line. It is that focus that adds value.

Too many business people think like our melon-selling friend. They assume they can make money on any product or service, if they can just sell enough.

As obvious as it may sound, there must be a reasonable and measurable relationship between marketing costs and the expected cash flow and other benefits.

Without that mindset, there is no perceived need to compare costs and benefits. Little or no effort is spent matching expenses and revenues until someone asks why the cash balance is circling the drain or vendors start calling asking where their payment is.

Do you think I might be exaggerating the importance of accountability?

A 2005 study titled Small Business: Causes of Bankruptcy by Don B. Bradley III and Chris Cowdery of the University of Central Arkansas reported that of businesses in their study that filed for bankruptcy, 58% admitted to doing “little to no record keeping.” I assume a business that keeps no records has no ability to compare costs and benefits, let alone manage them.

I encounter this “I’ll make up the difference on volume” mentality with alarming frequency. One of those encounters was the cathartic event that led me to develop my marketing accountability approach.

I had a growing client who had reached $5 million in sales. Unfortunately, losses were growing even faster. They were in desperate straits, virtually out of cash. They thought the answer was to slash expenses and eliminate staff, while continuing to grow sales. In other words, they followed conventional business thinking.

I discovered they were losing money on their largest customer class, where all marketing efforts were directed. Much to their surprise, I did not suggest eliminating a single position. On the contrary, I recommended hiring a marketing person for the profitable customer base. I then directed  procedural improvements to make it easier for those customers to do business with my client. Finally, I suggested an immediate reduction in unprofitable customers.

Even more alarming is how often clients I assume are financially astute fall into the same trap. I worked with a very large company that started a bonus program on their entire product line. The problem was they lost money on some products, primarily because they were underpriced. The bonus structure did not differentiate between products. When sales of already unprofitable products increased, the added cost of bonuses produced a “double whammy” on the bottom line.

An appropriate tactic would have been to reward the sales force for increasing total sales, while also decreasing sales of unprofitable products.

As both examples illustrate, growing sales and increasing profits are not always synonymous. Admittedly, decreasing sales to improve cash flow and profits sounds counter-intuitive to someone lacking a firm grasp of their cost structure.

That is no excuse.

Knowing how to sell something without understanding the economic impact of those sales is a recipe for disaster. Those responsible for a promotion should also be held accountable for its results, good or bad. The ultimate result companies must focus on is how much cash a promotion puts in the bank. It really is that simple!

Does my marketing accountability approach work?

Here is what the client in the first example said, “While many companies are looking to cut back on employees as their first resort to handle cash shortages, CFO America was quick to point out that the right mix of customers was the crucial area of concern. They also were quite helpful in directing us in some marketing improvements that we could make. We are now in the process of implementing changes that are destined to enhance our financial picture.”

I leave you with that quote.

© 2011 by Dale R. Schmeltzle

CFO America: Your Cash Flow Optimization experts

Too Foolish To Fail – Part 2

On Friday, I began a two-part post on Mark Zuckerberg’s three mistakes in starting Facebook. Mistake # 1 was not coming up with an original idea, but merely improving on other people’s ideas. It turns out that was not a mistake after all.

Today, I will analyze his other mistakes, namely:

2. He waited too long to “cash out.” He should have jumped at the first opportunity to raise some serious “beer money” like a normal college kid. If only he had, he would be a millionaire today!

3. He failed to exercise basic common sense! Anyone smart enough to get into Harvard should know that a dream of launching a worldwide business to redefine a major facet of society is destined to break your heart. Homer Simpson said it best, “Trying is the first step toward failure!”

Let’s analyze these missteps.

I am frequently surprised at the short-term vision baby boomers adopt in their business planning. I often encounter entrepreneurs who hope to build a successful business and “cash out” in five years or less.

This view is a distraction from your value proposition, the very reason you went into business in the first place. Think about it. Customers are at best indifferent to your retirement plans. Would you pick a new dentist if you knew she planned to sell her practice in two years?

It also introduces a bias that will slant business decisions in favor of maximizing short-term cash flows at the expense of building long-term value. For example, owners will forego investments in customer service and product design if payoffs extend beyond their timeline. This situation is analogous to watching a runner round the bases as you chase a fly ball. There are already plenty of opportunities to falter in business without unnecessary distractions. Do not take your eye off the ball!

It seems counterintuitive that a college student, given the opportunity to finance what would have been a carefree life style, would follow a business plan that extended beyond the next frat party. To his credit, now 27-year-old Mark Zuckerberg has resisted the temptation to monetize his 24% stake in Facebook for 7 years. Instead, he has continued to lead the company according to his vision.

It is hard to argue with his success. Earlier this year, Goldman Sachs valued the private company at $50 billion. Mark kept his eye on the ball, even when faced with what would have been an irresistible temptation for us mere mortals. Cashing out four or five years ago would have cost him billions.

You were right, Zuck. My partner and I were….we were….well any way, you were right. Gloating is so not cool, Mark!

That brings me to his third mistake. Mark should have listened to the voices in his head that are quick to point out all the reasons why his grand plans would surely fail.

Abraham Lincoln once described a general who was unwilling to make decisions under pressure as “acting like a duck that had been hit on the head.” Fear of failure is a powerful motivator. It causes some of us to avoid decision making altogether.

Decision making is a cognitive process involving logic, reasoning and problem solving skills. Unfortunately, each of us enters that process with certain preconceived biases. We are often quick to listen to any voice that supports them. It is normal to exhibit a reluctance to move off those biases, even if faced with new facts, circumstances or opportunities. Therefore, the safe decision (i.e., to spend our career as a corporate wage slave rather than launch a new venture) is often the default decision.

Samuel Clemmons once said, “It’s not what you don’t know that will get you in trouble. It’s what you know for sure that just ain’t so.”

To his credit, Mark Zuckerberg did not let what he did not know about launching a business get in the way of his success. His vision was inspiring; his execution was courageous.

In the final analysis, my partner and I could take a lesson from him. So can you!

 © 2011 by Dale R. Schmeltzle

SLIDESHARE, HOW DO I LOVE THEE? (PART 2)

On Monday, I began the first of a three-part article. It confesses my undying love for SlideShare, a free online slide hosting service. Part 1 discussed the first three of ten important things you should know about SlideShare, its demographics and norms. Today, Part 2 will explain how to embed YouTube videos and how to access SlideShare remotely.

Here are today’s suggestions.

4. SlideShare allows you to embed YouTube videos into slide presentations. Simply click the “Edit / Delete” button for the appropriate PowerPoint file on your “My Uploads” page. Next, click the “Insert YouTube Videos” tab at the top of the screen. Then paste the URL and select where in the slide sequence the video will appear.  Finally, click the “Insert and Publish” button. You are finished! Repeat the process to insert additional videos into the presentation. If you change your mind, videos are removable. Although I have not experimented with the option, you can also add sound by inserting an MP3 file. Video and sound cannot be inserted into pdf documents.

5. SlideShare is accessible by mobile devices at http://m.slideshare.com. This allows travelers to search, view and download presentations and documents. Bookmark the site for faster access.

6. Item #5 illustrates another endearing characteristic. By uploading Word documents as pdf files, I am using SlideShare as an article marketing service like EzineArticles. Although larger, EzineArticles has some complex rules about including URLs. I have failed their submission approval process on several occasions. The same is true of GoArticles.com. I have never encountered this issue with SlideShare. Furthermore, Twelve Things I Learned about SlideShare has received over 3,700 views on SlideShare compared to eight on EzineArticles and three on GoArticles during comparable timeframes. SlideShare’s marketing tag line should be, “No restrictions, just results!”

7. While I have not seen any definitive statistics, most seem to indicate the average time a viewer spends on an Internet page is only two to three minutes. That has significant implications to the amount of content presented. The average American adult reads between 250 and 300 words per minute. SlideShare viewers average seven to eight minutes per visit. That suggests that users are more likely to read longer files in their entirety.

8. Keyword tags help people quickly find information that interests them. SlideShare searches are keyword driven. They allow you to enter up to 20 tags per file. The top tags in 2010 were forecast, market, statistics, business, trends, industry, research, SWOT (an anachronism for Strengths, Weaknesses, Opportunities and Threats), report, company profiles, social media and marketing. Type and spell check your 20 tags in Word. Then paste them into SlideShare when you upload your file.

Saving the best for last, on Friday I will reveal the secret of the “60 minute Twitter boost.”

© 2011 by Dale R. Schmeltzle

When Every Second Counts

Wikipedia defines an elevator speech as “a short summary used to quickly and simply define a product, service, or organization and its value proposition.” Every business needs one. Moreover, unless you only hang out  on the top floors of very tall buildings, you need to be able to delivery your elevator speech in 30 seconds or less.

I have recognized for some time that my elevator speech needed some work. Frankly, it lacked punch and left audiences wondering exactly how I could help them. In the process of “sprucing it up” a little, I came across a blog post by my good friend John Carroll of Tres Coaching (http://www.trescoach.com/) in Keller Texas. John wrote an article on June 20 titled “Are you Speaking to me?” that nailed the issue of elevator speeches so well that I got his permission to share it with you.

John writes:

Three important elements that lead to success in a typical networking setting when positioning yourself, your business and your value proposition to other group members include:

  1. Preparation and planning,
  2. Tailoring the message to your audience, and
  3. Follow-up.

This article will address #2 “Tailoring the message to your audience”, and I will provide you with some ideas and an example that should help you raise your profile, obtain more quality referrals and effectively promote your business through networking.

Far too often, I see people just going through the motions when it comes to their networking activities. You know what I’m talking about. When it’s time for 30-second introductions they start with their name,  business name and offer little additional information to enable them to connect with the audience. What a waste of time!

Your 30-second introduction is the entry point upon which to build those great new business relationships, so take the time to do it right.

A 30-second introduction should answer three important questions, “Why should I do business with you?” and “How can I help you?” and finally, “Are you speaking to me?” It is important to tailor the message to  your audience, so people don’t walk away scratching their heads trying to figure out what you’re all about and to whom you are speaking.

Now, what do I mean by tailoring the message to your audience? Glad you asked.

In a typical networking setting there are four groups represented – potential customers, partners, suppliers and DNAs (Does Not Apply). So, don’t get up and just ‘spray and pray’ when it is time for your introduction. Recognize that how you speak to a potential customer is different than a prospective partner or supplier, and your message should reflect those subtleties and differences. Targeted group members in the audience should be keenly aware that you are speaking directly to them by what you say and how you say it.

Here’s an example of a 30-second introduction that a branding/marketing expert might use to promote their services and target new prospective clients …

“Effective marketing is much more than a slick brochure or a high-tech web site. More importantly, it’s about connecting prospective buyers with your business, and delivering measurable results.

At (Your Company Name), we are experts at helping clients find the right “connections” with their customers, so they buy more and more often.

If you are a small business owner and want to improve your marketing results, please see me after (breakfast, lunch, etc.) to schedule a FREE evaluation to determine how we can help.

(Your Name) with (Your Company Name) – from great ideas to your bottom-line.”

The above example answers the three important questions, and it is clear you are speaking to those small business owners in the audience who want to improve their marketing results.

Similarly, if your target audience is potential new partners or new suppliers, your message should reflect what is important to those particular groups and not be generic. Tailoring the message to your target audience should enable you to build positive new business relationships through networking and obtain more quality referrals.

I hope the information contained in this article has been helpful. Please share any additional thoughts and comments here that you think would be valuable.

Enjoy the journey!

John

COPYRIGHT © 2011 John Carroll

Creating a Winning Story

We are witnessing an amazing explosion of communication options. Countless telecommunication and Internet-based vehicles that did not exist a few years ago are now the norm. Who, save a small group of billionaire visionaries, foresaw the impact of Facebook, eBay and smart phones on today’s business community?

One thing has not changed. Marketing is still about communicating your message. Businesses must explain their value proposition to ever-widening and geographically dispersed audiences. It logically follows that whether you are drafting a newsletter, placing a newspaper ad or writing a short article, the message itself is the primary determinant of your success.

Everyone recognizes that correct spelling and proper grammar are essential. A few obvious mistakes in the opening paragraph will quickly sacrifice your credibility. The need to write at the level of our target reader is not as widely recognized. A successful author of children’s books does not write like someone presenting a research paper to the New England Journal Medicine. Your audience lies somewhere in between.

Microsoft Word Spell Check includes three tools to determine reading level. The first two are related. They are the Flesch Reading Ease score and the Flesch-Kincaid Grade Level score. Both are formulas driven by the average words per sentence and syllables per word. Note that semicolons are treated as breaks between sentences, just like periods. The U.S. Navy began using these tools to test the readability of forms and manuals in 1975. Some states set readability standards for insurance policies and legal documents.

The higher the Flesch Reading Ease score, the easier it is to read. For example, the sentence “See Spot run'” scores 100. Scores of 60 to 70 are at a 13 to 15 year old level. Scores of 30 or less indicate a college graduate level. Time magazine scores around 50. The Harvard Law Review is in the low 30s.

The Flesch-Kincaid Grade Level corresponds directly to the appropriate grade level. An 8.2 indicates comfortable reading for an eighth grader. A score above 12 requires college level reading skills. At the other extreme, Green Eggs and Ham by Dr. Seuss is a negative 1.3. I target scores between 9 and 10 in my writing. This article is a 9.1.

Word’s third tool is the Passive Sentences Readability score. This formula is the ratio of passive to active sentences, expressed as a percentage. Low scores indicate high readability. A score above 15% is difficult to read. This article scored 0.0%, very unusual for my writing style.

I’m taking a long weekend, so I’ll see you again on Wednesday. Have a great weekend!

© 2011 by Dale R. Schmeltzle

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