What Every Small Biz Should Know About Net 30 Terms

Do you give terms?

This is a sentence you’ve heard or will hear if you are in the wholesale business. But, what does it actually mean? The phrase gets casually thrown around as if everyone has a clear understanding of what it means.

First, let’s chat about  Net 30 (Trade Credit) in general terms. It means you take an order and get paid in full in a set amount of (30) days.

If you run your Small Biz on an all “cash-basis” extending credit can be daunting. You certainly don’t have to do it either. It’s common practice to run a credit card when the order is shipped. You get instant satisfaction and semi-instant payment from your CC (Credit Card) processor.

Why should you ever extend credit? Well, there are larger retailers that “only” do business on Net 30 terms. Providing trade credit to the select clients can be a way to position your company  for growth. If you want to grow, it can be tough to stay on a “cash-basis.” Not impossible, just tougher. (more…)

How To Bake A Yummy Social Media Souffle

I talk a lot about the need for the right “mix” when you promote your product, business, book, whatever it is – engaging in social media is no different. To get a good result you have to find the recipe that’s 100% ALL YOURS. But just like the hard-to-bake souffle, there are some ingredients I’ve seen in of the work of ALL successful social media contributors.   Here are the components I believe you should always use for your  social media recipe…and some of experts who cook it up just right. Feel free to add your favorite folks – let’s get a good list going! (more…)

Do You Charge For Your Customers For Shipping Supplies?

You think all the hard work is over once you price your product, then you realize you have to pay for the boxes and the  padding that you ship all your fabulous product in.

How do you allow for that in your pricing?

There are a few ways you can do the figuring and any of them are perfectly acceptable.

BOX SIZES:
First of all, how are you shipping? Carrying multiple sizes of boxes can be tedious and space hogging. My recommendation would be to take a look at your product minimum, the average items and quantities ordered.

For example: An average order may be 36 bottles (lotions/washes), 24 body butters, 12 body polishes, 12 Travel Packs and 4 Testers.

Get these items together and start mocking up your packing and measuring different scenarios.
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12 Essentials Tips For Getting Published In Top Magazines

This article was originally published on Masthead.org for writers looking to have their work published in a magazine. I thought it had some salient tips for those of us trying to get our products featured too.

Instead of editing it- I thought it would be best for you to take what you needed and get on with the pitching!

12 Essentials Tips For Getting Published In Top Magazines

{If you don’t follow this advice, the pitch you just spent 3 hours on
will take all of 3 seconds to end up in the editor’s trash.}

1. Know the magazine’s ins and outs. Before sending a query, read as many issues of the magazine as possible–not just a casual reading of one or two issues. Even women’s magazine prides themselves in the distinct tone or perspective that their magazine offers, so don’t just assume that you can write for a female audience and throw a generic pitch to one of the editors. Take note of regular columns and sections that span several issues, as well as recurring themes/topics. Make sure you’re not pitching an idea for a topic that’s recently been covered. This could be the first indication that you haven’t done your research, and no editor is going to trust you with researching an entire article for their publication if you can’t even flip through their previous issues.
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How To Contact Magazine Editors Without Expensive Mailing Lists

When you say you need to get some “Press”, most people give you the genius advice to look up the editors, writers, etc. at the front of magazines or the mastheads…

According to Wikipedia: Masthead is a list, usually found on the editorial page of a newspaper or magazine, of the members of the newspaper’s editorial board. If no editorial board exists, the masthead will often feature a list of top news staff members. Some mastheads also include information such as the publication’s founding date, slogan, logo and contact information.

So, you go to the store and buy a bunch of magazines at $4- $7 a pop. Then you think to yourself- Hey, Self, wouldn’t it be great if all this information was listed online somewhere? Well it is. (more…)

Fast, Free & Easy Way To Comply With FTC Blog Rules

As I’m sure you’ve heard by now, the FTC has released new regulations that directly apply to Bloggers & Social Media.

Basically, they (we) must disclose any type of benefit, payment, free samples, etc. that is received for publishing information about a product or service. We must also disclose if we have a relationship with the company or product we are endorsing.

There’s already been a lot written about this and a lot more to come, I’m sure.

What I want to pass on to you is a tip on a fast, free and easy way for you to comply with these guidelines. (more…)

Patience – an entrepreneur’s greatest asset

*originally posted on Wax Blog July 24, 2009

It’s summer and so for that reason I’ll break from my insistence on pragmatic advice and write on a topic you might consider fluff. Yet it’s the biggest mistake I see small business owners make, including me. We have no patience. I think that it’s a given that a requirement for being an entrepreneur is to have a low grade case of ADD, or in my case, ADHD with an emphasis on the H. And in marketing, that will kill you.

I can’t tell you how many times a client tries something and when there are no immediate results says “Well that doesn’t work.” It’s like lifting weights one day and expecting a tricep cut to develop overnight. I’m not suggesting that we all go out and spend a bajillion dollars on advertising during American Idol. But I do think that in order for your PR, social media and marketing tactics to work you have to learn to wait a bit. Here are a few tips to use to figure out if you’re too impatient.
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What Every Small Biz Should Know About Pricing Their Product

Where do you want to sell? Are you planning on selling Wholesale or Retail?

This is where small businesses get screwed up. Most Small Biz owners who sell on Etsy or their own domain think you take the cost of the product, double it and that’s what it sells for. They even may call that their “Retail” price.

They may even go to other retail sites of “competitors” and think they’re “over- priced.”

They may well be, but, let’s look at the larger picture of Retail Reality. If you want to grow your Biz beyond Etsy and your own Domain.com, then  you’ll have to think about that from the start.

Let’s say your product cost you $2.36, plus your general overhead of 15% (.354) =$2.72 cost. So, you sell it on your site for around $5.50.
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FDA is not a four-letter-word

Why does the mere mention of 3 little letters strike terror in our little B&B hearts and simultaneously cause eye-rolling?

I think it’s fear of the unknown or watching to much Oz on HBO.

Playing against the hype, I’ve actually found that the FDA tries to be as user friendly and consumer oriented  as possible.

If you’re serious about being in the Bath & Body biz, then you’ve probably already visited the Cosmetic section of the FDA site on more than one occasion. If you haven’t been there, I highly recommend the trip.

I’m not going to get up on any “soap box” about cosmetic issues. I just thought I’d point out that there is a a lot of useful information on the  site and it warrants a few minutes surfing. You may be surprised at how much information is there and it’s even in a readable, understandable format.
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WWGKD: What Would Guy Kawasaki Do?

I’ve brought marketing meetings to a screeching halt by actually saying that I thought all Mission Statements sounded lofty, generic and well, stupid. Eyes bulged and rolled. Grown men and women, who practically wear their MBA credentials in neon on their magnetized name badges, sputtered and choked. Then, ultimately, my comments were dismissed. I was a designer after all, what did I know.

Even Guy Kawasaki thinks Mission Statements are a bunch of gobbledly-goook. Since he is held in much higher esteem and is a lot more successful than any of the marketing people I knew, I figure myself pretty close to being a genius.

Who’s Guy Kawasaki? I’ll let him tell you himself in his brilliant keynote speech to TiE (The Indus Entrepreneurs) in 2006.
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