Sunday, August 22, 1999
SMALL-BUSINESS DIARY
Web third best way to get attention
Half of small businesses now have Internet access, and about 20 percent have established their own Web sites, according to a national survey commissioned by the Small Business Banking Group of Bank One Corp.
Thirteen percent of owners identified their Web sites as one of the most effective tools for generating interest. They said it was better than direct mail, radio, television and telemarketing.
Only word of mouth, 25 percent, and newspapers, 15 percent, were considered more effective.
Nearly 6 percent of small-business owners now bank through the Internet, a number that should double in the next year, survey results indicate.
Saving time is the main reason.
“If small businesses adopt online banking at the rate they say they will, this will be explosive growth,” Bank One executive Bill Schumer said.
10 steps to success in a new business
Want to make your first business launch a success? Sandy Weinberg, vice president of entrepreneurship at Muhlenberg College has this 10-step program, which she outlined for Start Your Own Business magazine:
• Test your product or service in the market.
• Develop an exit strategy. Positioning yourself so an initial failure won't be catastrophic is good planning.
• Consult an accountant.
• Consult an attorney.
• Secure the permits and licenses you need.
• Meet a banker. Even if a bank loan isn't in your immediate future, building a relationship before you need one is a prudent preparatory step.
• Secure a phone line, electronic mail and postal address.
• Double-check your funding. Make a careful budget of the first three years of operations; estimate your income (pessimistically); and make certain you have at least 1.5 times the shortfall.
• Prepare your initial publicity releases and advertising.
• Take some personal time to mentally prepare yourself.
Business bookshelf
Bill Capodagli and Lynn Jackson, partners of Capodagli Jackson Consulting, on customer service (from The Disney Way: Harnessing the Management Secrets of Disney in Your Company; McGraw-Hill; $21.95):
“You don't build the product for yourself. You need to know what the people want and build it for them. In an age when consumers all across the country bemoan the state of customer service, the Walt Disney Co. is repeatedly hailed as a superior service provider, perhaps the best in the world. On the day Disneyland opened, Walt himself announced the them park's motto: "At Disneyland, the visitors are our guests.' Since then, the bar has continually been raised to new heights in the company's desire to delight its guests.”
— Hang Nguyen and Enquirer news services
Card company reaches for younger generations
Local firm big winner in Pokemon card game
P&G ponders Iams: How best to sell pet food?
Airlines serious about service
TIPSHEET
Employee lawsuits increasing
Talent, luck drive hazardous-materials abatement firm
SMALL-BUSINESS DIARY
IRS' new softer side comes with some growing pains
PRICIEST HOMES
