When you're just starting out with a small business that's on the brink of getting attention from the public eye, creating that special "buzz" is what will make your business stand out from the pack.
So many new businesses, particularly small ones pop up every year, and even with lots of hard work, many sadly fail. Part of the reason these businesses don't make it as far as they could have is due to a lack of awareness from clients, customers, and consumers. If they've never heard about your business, how will they ever know to choose it when it comes time for their need for the products or services you provide?
Generating and maintaining a buzz is imperative to getting your small business to get to the next step. The quote from that famous baseball movie, "If you build it, they will come," is only part of the process. Having a great small business that's virtually unknown may be a nice project for you, but don't you want to hit it out of the ballpark? These tips will help you create that important buzz your business needs for success.
Unique Marketing Angle
You surely know you'll need to put some budget into marketing, from email to direct mail to ads and even TV commercials. Every small business is unique in some way, even if there are other companies in the same field, so use that "certain something" your business has in order to market most effectively.
As per Forbes, your business needs a "creative marketing hook." This could be in the form of a "short phrase that conveys your unique value proposition, a catchy jingle, an important benefit, or a 'slant' or angle of your business that gets people talking." Be sure your "hook" truly conveys what your business offers and isn't just an empty promise. Not much turns away a customer more than disappointment.
Grasshopper adds, "Differentiate yourself. Make funny fliers or tell stories that set you apart."
Once your unique angle is established, you'll be easily remembered and find customers coming back time and time again. And these are the very people who will recommend your business to family and friends.
Online Giveaways and Promos
Use social media to your advantage. While you are creating your online presence, use the various social media platforms to create buzz by doing regular contests and giveaways and sales or deals for social media followers only. You'll gain popularity far more quickly and keep people coming back to your social media pages to check for these benefits regularly.
As Hubspot notes, "From Twitter to LinkedIn to Facebook and more, investing in social media can take time. But it's free and can quickly create the kind of momentum you're looking for in the early stages."
Additionally, once you gain customers, give them the thanks they deserve with a percentage off the next time they shop, or a special deal if they refer a new customer. It will cost you very little to offer these markdowns, but it will mean a lot in the minds of customers who had the chance to go elsewhere.
Network with Movers and Shakers
Part of being a small business owner is wearing lots of hats. This means you won't likely have a marketing or sales team to do initial networking for you as you're starting out.
As per Grasshopper, "Go to networking events, startup meetups, co-working spaces, and other industry events to try to get your name out. Talk, talk, talk, until you're ready to drop." The more you put your name out there, the better chance for a hit. Plus, you'll learn more about the business from the people already doing well in the field.
Forbes adds, "Connecting with influencers in your niche can help by lending you credibility. Find ways to connect and engage with influencers online. Share and retweet their content, or reach out to them via email. You never know where these types of connections can lead; and the potential to get a link or mention from a well-known industry expert makes your efforts worthwhile."
By placing yourself among those in your industry, you may find people interested in joining your efforts and even those who are willing to back you financially if they see a diamond in the rough. Hubspot notes, "Their qualified feedback might help improve your startup's offerings, and those relationships will cultivate your startup's success."
Keep at it and never let the buzz die down. That initial push is crucial, but keeping the momentum alive every day is the key to a successful life for your small business.
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It's easy to forget that the presidency of the United States is a government job just like any other–in that it comes with a stipulated salary and benefits.
But regardless of their bombastic rhetoric or self-serious public image, politicians are like all other government employees. The president, vice president, and legislators earn an annual income from the government in exchange for their duties, which include: executing/circumventing the law, upholding/withholding the civil liberties of American citizens, and legislating/sabotaging how societal institutions meet the needs of citizens, from healthcare to education.
If you've ever wondered what American politicians earn for all their hard work arguing across the aisle and starting Twitter feuds, look no further:
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Maybe you've had a high stress occupation before, like social work or stock trading, and fell victim to the high burnout rate of these kinds of jobs.
Or maybe you're just starting your career, and looking for something that won't take over your life but will still provide you with a good living. Whatever reason you have for looking for a high paying, low-stress job, you've come to the right place. We've compiled a list of the top 5 jobs that promise a solid paycheck without taking too much out of you.
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What do you do when financial hardship hits and you can't make your monthly mortgage payments? This is a question on many homeowner's minds as nearly 17.8 million Americans are reportedly unemployed during the coronavirus pandemic.
When homeowners face financial hardship, such as the loss of a job, they often look to obtain a forbearance agreement from their lender. A forbearance happens when your lender grants you a temporary pause or reduction in monthly payments on your mortgage. Forbearance is not the same as payment forgiveness, in that you still have to pay the entire amount back by an agreed-upon time.
Mortgage lending institutions differ on their mortgage relief policies and qualifications; however, the Coronavirus Aid, Relief, and Economic Security (CARES) Act were signed into law in late March of this year to protect government-backed mortgages.
Federally backed mortgages include:
- Fannie Mae
- Freddie Mac
- The Federal Housing Administration (FHA)
- The US Department of Veteran Affairs (VA)
- The US Department of Agriculture (USDA)
Under the CARES Act, homeowners with a federally backed loan who either directly or indirectly suffer financial hardship due to coronavirus automatically qualify for mortgage forbearance.
Even if your mortgage is not secured by one of these agencies, you still can call and see if you qualify, as many lenders will still offer the option in order to avoid foreclosures.
Under the CARES act, homeowners can claim mortgage forbearance due to financial hardship from COVID-19 for up to 12 months without requiring any documentation or verification. During the forbearance period, mortgage lenders cannot charge late fees or penalties.
Additionally, as long as your mortgage is current at the time you claim forbearance, the lender is required to keep reporting your mortgage as paid current throughout the entire period.
At the end of the forbearance, the CARES act protects consumers from having to make a lump sum payment. Instead, you will be given a repayment plan from your provider. Since repayment options vary, it's important you ask your provider about all of your repayment options.
Possible Repayment Options:
You may be eligible for a loan modification at the end of your forbearance. With modification, the mortgage terms are changed in order to add payments that were missed during the forbearance onto the end of the loan, extending the term.
Another option that may work for some is a reduced payment option. This allows you to keep paying monthly payments at a reduced amount. The amount missed is usually added back into the monthly payments at the end of the forbearance.
Regular payment: $1000 per month
Reduced payment: $500 per month
Payment after forbearance period: $1500 (until caught up)
Balloon payments, or lump sum payments at the end of the forbearance, are prohibited under the CARES Act. However, mortgage lenders may require homeowners who are not protected under the CARES Act to make a balloon payment at the end, so again it is best to check first with your provider.
Mortgage forbearance should only be considered in true financial hardship. In other words, just because of the pandemic, you should not take a forbearance on your mortgage if you can still afford your payments. Likewise, if you are able to start making payments before the forbearance period is up, it's best to do so as soon as possible.
The Next Steps:
Before you get in touch with your mortgage servicer, save time by gathering as much documentation about the mortgage as you can. Also, be ready to list your income and monthly expenses. Due to an influx in calls, financial institutions are experiencing extremely long wait times right now, and having your information at the ready will help.
Have questions ready to ask. Here are some questions you should be asking:
- What fees are associated with the forbearance?
- What are all the repayment options available to you at the end of the forbearance?
- Will you be charged interest during the forbearance period?
If your forbearance is approved, make sure to keep all documentation pertaining to it. Make sure to cancel any automatic payments to the mortgage during the forbearance period, and keep tabs on your credit report to make sure your lender doesn't report the loan as unpaid.
For more information on forbearance, contact your lender and discuss your options. If you need more assistance with understanding your options, you can contact a local agent for the housing counseling agency, or call their hotline at 1-800-569-4287.