The first time I talked about organic growth with a client, he thought I was making up the term. I assured him that investors talk about organic growth. It's a good thing. You take your earnings and plow them back into the business to generate more growth in revenues.
Yesterday when I was working in my garden, I realized that gardening is a lot like growing a business. This summer I'm going to write about the parallels between gardening and entrepreneurship.
I once had an investments professor in college who used to say, "The stock market is like a garden. You have to cultivate the flowers and pluck the weeds." A business is like a garden, too. You have to cultivate growth and make sure the weeds don't take over.
What are weeds for an entrepreneur? Competitors, creditors and other complications.
What are the weeds in your business? I'd love to know.
Thursday, June 12, 2008
Thursday, May 29, 2008
Internet Advertising 2007
The results are in, and 2007 was another record year for Internet advertising. IAB just released the data, which you can read on Mediapost -- http://blogs.mediapost.com/research_brief/?p=1717. This is the fourth year in a row of record ad spending on the net.
Internet advertising revenues were up 26% in 2007 to $21.2 billion in the U.S. To me, this just shows the power of the Internet and how marketers of all sizes need to pay attention to the opportunities the Internet presents for getting the word out about their brands. The Internet gives people access to instantaneous information, and the younger generations are embracing it. If my son, a recent college grad, needs to look up a movie, a phone number, directions or any piece of information, he goes to the Internet. I'm inclined to pick up a newspaper, phone book or a paper map.
I think the biggest challenge in all this Internet advertising growth, however, is understanding how to make the best use of this new medium. I think that most businesses do not understand how to engage customers. They are clueless about social networking and viral marketing. I've talked to my young adult kids about this, and they agree. They see social networking and word-of-mouth excitement as just happening. They believe it cannot be influenced by marketers. I believe my kids are wrong. Savvy marketers can use this medium, which has now become quite well established, to influence consumers simply by giving them the information they need before making a purchase decision. Later, they can maintain a relationship with updates and information on product usage that is easy to get and understand. Marketers should start with the basics.
There's a lot of opportunity out there. What's your opinion? Post a response. Email me: upstartwyn@gmail.com.
Internet advertising revenues were up 26% in 2007 to $21.2 billion in the U.S. To me, this just shows the power of the Internet and how marketers of all sizes need to pay attention to the opportunities the Internet presents for getting the word out about their brands. The Internet gives people access to instantaneous information, and the younger generations are embracing it. If my son, a recent college grad, needs to look up a movie, a phone number, directions or any piece of information, he goes to the Internet. I'm inclined to pick up a newspaper, phone book or a paper map.
I think the biggest challenge in all this Internet advertising growth, however, is understanding how to make the best use of this new medium. I think that most businesses do not understand how to engage customers. They are clueless about social networking and viral marketing. I've talked to my young adult kids about this, and they agree. They see social networking and word-of-mouth excitement as just happening. They believe it cannot be influenced by marketers. I believe my kids are wrong. Savvy marketers can use this medium, which has now become quite well established, to influence consumers simply by giving them the information they need before making a purchase decision. Later, they can maintain a relationship with updates and information on product usage that is easy to get and understand. Marketers should start with the basics.
There's a lot of opportunity out there. What's your opinion? Post a response. Email me: upstartwyn@gmail.com.
Sunday, May 25, 2008
Entrepreneurs and the Economy
Is this any time to start a business? From what I'm seeing, lots of people are turning into entrepreneurs as they see opportunities in the market and corporate jobs lose their allure. Credit is tight, but that is not stopping people. These entrepreneurs believe in the American economy and the growing world economy.
I'm working with several great start-ups. Their founders are amazingly creative and far-thinking. They see new ways to apply technology to meet the needs of producers and consumers. That is what I find so exciting.
Check them out:
www.mybroadway.com
www.teroforma.com
www.loyaltv.com.
I'm working with several great start-ups. Their founders are amazingly creative and far-thinking. They see new ways to apply technology to meet the needs of producers and consumers. That is what I find so exciting.
Check them out:
www.mybroadway.com
www.teroforma.com
www.loyaltv.com.
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