38. Blog
 
Blogs are an excellent marketing tool and are often picked up by Search Engines if they have useful or informative articles.
 
Most SaaS websites provide a blog page. This can be used to write articles or even update people on your latest news.
When writing a blog article always remember who are you writing for and what your audience cares about. Forums on your niche are very useful sources of information on what people are discussing and what trends are being followed. Do look at your competitors posts and particularly the comments and shares under those posts.

39. Press
 
Appearing in the Press is a good way to start to build trust with your audience.
 
When writing a press release:

• Consider if the readership of the publication matches your target audience.
• Keep your press release simple. Keep it under 5 paragraphs.
• Check the submission requirements of each individual publication.
• Research the journalist or editor who would write about your specific type of product or service. Find their email address.
• Make your subject line descriptive and as specific as possible.
• Type your copy into the body of your email. Unless requested avoid attachments as emails carrying attachments are often deleted as they may carry viruses or are very large files.

 
Items to cover in a press release are:

• Basic description and information of your company and brand name, product or service. What is your product and what are the benefits of using it. Why is it unique. Where can people buy it. What is the price point.
• In the following 2 paragraphs describe the above in more detail and any launch dates.
• Include the low-resolution images of the products that you are suggesting at the bottom of your email along with the direct website links.
• Talk a bit about yourself, how you got started and where you see your business heading in the future.
• Include follow up information. Your contact details, website, phone number, email address and social media names.
• Aim your writing to the reader/audience you have in mind.
• Include easily searchable keywords.
• Make sure you have answered: WHO; WHAT; WHY; WHEN; WHERE and HOW.
• Proof read it before you send it.

 
Follow up:

• Call to let them know you have sent the email.
• Call again after 3 days to ask if they have any questions.
• Or a follow up email sent 10 days after the press release was sent.

 
Visuals:

• Check the format with the publication.
• They are often Hi-resolution photographs 300d.p.i and 2500px across. JPEG or PNG format.
• 100kb to 8Mb in size
• New formats are being included such as …

 

• Journalists are interested in a headshot; your creative workspace;
• you working on your product or service;
• Your ‘cut out’ product with a ghost on white background.
• And finally, your product in a setting. Lifestyle shots.

 
If you are featured send a thank-you note. Stay in touch by commenting on their social media.
 
When contacting the press

1. Use a PR agent – This can be expensive.
2. Press Release Distribution Service.  They work with media partners like Bloomberg and Yahoo. These services often limit you to a 400 - word limit with an extra charge for every extra word and images / video.

Some examples are:

1. Berkshire Hathaway’s Business Wire
2. PR Web
3. Marketwire
4. PR Newswire
5. B Wire
6. 1888PressRelease
7. Press Loft

 
Remember there are Different types of Press:

• National Titles
• Regional titles

 

• Long lead - often these have a 6-month planning time
• Short lead -
• national newspaper supplements
• Online
• Daily newspapers
• Weekly newspapers
• Free weekly magazine and newspaper Gift Guides
  

 40. Cost Analysis
 
NB: This is a critical step if you want longevity of your business.
You need to work out if your business and products will make a profit. For your business to be sustainable you need to be making money after paying all expenses and taxes. Keep track on your sales and money.
You need to keep updating this as manufacturer and shipping costs are changing continually.
Excel or Google Doc spreadsheet is your friend. There are some excellent Accountancy programs available as well.
 
Revenue minus Cost of Goods (or Services) = Gross profit
Gross Profit minus Operating Expenses = Operating Profit
Operating Profit minus Tax = Net Profit
 
Don’t forget your country’s taxes and licencing and other costs (e.g. VAT in the UK).
 
Plan next year's activities with budgets and KPIs (quantifiable measure of performance): customer satisfaction; process quality; financial performance index
 
More is written about this in Pricing your Product.
 
Look at your
Financial Forecasts.
Sales and costs forecasts.
 
Remember you will need money to live and pay your personal bills. Work out a budget for this.
 
Cashflow Forecast:
Be realistic and include for seasonal changes which affect most businesses.
 
Income should include:

• Money from sale
  
• Money from funding
• Your own money

 
Outgoings:

• Materials
• Packaging
• Labels
• Stock
• Rent
• Utilities
• Phone
• Postage
• Stationary and printing
• Insurance
• Tax
• IT costs
• Loan repayments

 
The balance will help you determine the health of your business.
These figures are useful for you to determine how many sales you need to make everyday to break even and how many sales you need to make the type of profit you want.

 41. Customer Service (CRM)
 
Keep track of your sales and customers details so that you can find the relevant information quickly when queries or problems arise.
 
CRM:
Customer Relationship Management (CRM) is software that companies use to efficiently manage interactions with existing, new and potential customers. The database includes contact details of customers and their orders. The analytics information can be shared (if you have staff) among staff members of your company.
 
The following companies supply powerful CRM software.

• HubSpot

HubSpot is a CRM platform with all the software, integrations, and resources you need to connect marketing, sales, content management, and customer service. HubSpot seamlessly connects your data, teams, and customers on one CRM platform that grows with your business. The software also tracks and analyses sales activity in real time.

• Salesforce
• Help scout
• Zendesk
  

42. Time Management
 
Managing your time is a key daily habit to get into. Once it becomes a habit many a potential problem will be prevented.
 
At some point you will need to hire people to help you expand your business. You cannot do everything yourself but to minimise this set up systems. Many businesses have survived the pandemic recession because of digital tools.

• Create a To-do list that is revised every day and every week.

 

• Use a Scheduling Tool like Calendly.

 

• Email:
  1. Check emails daily 3 times a day.
  2. Reply to emails that need a reply that day.
  3. Respond to emails with a holding reply.
  4. Flag or star emails that should be dealt with within a few days.
  5. Unsubscribe to junk mail as this is a time waster.
  6. Manage your diary – reschedule appointments if necessary.
  7. Enable automated folder allocation.

 

• Customer Relationship Management – CRM
  1. Organise customer information and data – sales, shipping, fulfilment, and orders.
  2. Reply to customer enquiries
  3. Use Pipedrive or HubSpot to assist with this.

 

• Social Media
  1. Schedule content
  2. Like and reply to comments
  3. Check comments
  4. Spend 20 minutes each on 3 platform
     

• Plan your next launch.

 

• Update your website, product information and prices. Check for broken links on your website.

• Use Asana for tasks and Slack for communication.
  1. Asana.com. Worker collaboration tool, manage deadlines, tasks, status updates.
  2. Slack or Microsoft teams is great for discussions. You can share anything. For example: Files, any type and most sizes.
  3. Slack.com. Create a large virtual network of employees that can communicate as though they are together.

 

• Keep records
  1. Eg: Excel sales, subscribers.

 

• Create a Directory - manufacturers and contacts.

• When to do list becomes over whelming use:
  1. Get things done (GTD)
  2. Pomodoro
  3. Eisenhower box
  4. POSEC
  5. Pareto analysis

 

• Prioritise tasks: Use:
  1. Google calendar
  2. Todoist
  3. Pomodoro timer
  4. Desk time
  5. Wunderlist
  6. Team management software
  7. Trello
  8. Jira
  9. Asana

 

• Notion: meeting notes, project
• Zapier: connects slack, gmail mail chimp to handle repetitive tasks
• Salesforce: CRM customer relationships. Store and manage all your customer’s information and interactions purchase history, custome4r information etc
• Docusign: eSignature

This list is by no means exhaustive.

46. Rise of Web3 and New Technologies

Web3 and the metaverse are 2 technologies that explore the transformation of online interaction.
The broader use of Blockchain will allow the creation of Smart Contracts, Wallet Integrations and payments, Fiat currency on and off ramps, and other interfaces.