That's A Wrap!

I have been running across articles and sites focused on the use of video for business marketing and thought that I would share some of the information I have found. As with most things, a wide range of options exist when it comes to the style you want to create and the money you have to spend. If you have the budget to put something together that is Hollywood style, by all means go for it and let me know when you wrap it up so I can grab some popcorn to enjoy the video screening! For those of us working with a slightly tighter budget, there are some options allowing you to achieve your video goals without breaking the bank.

Perhaps the most important factor you need to consider before embarking on your video journey is how the video will be used. Is this something for your Social Media adventures or YouTube? Is it being added as a helpful feature to your website? For these uses, there are budget friendly options to consider. If you are intending to use your video for television spots or as a promotional video for your company, I would suggest speaking with a professional to ensure that you get the appropriate quality level. Do not, however, let someone talk you into hiring the full scale production team for a simple video to post on your blog or other such internet equivalents without really investigating your need. This is one area where you can get talked out of your budget VERY quickly if you have not done your research!

One article I read discussed the necessary ingredients for making a business appropriate video and suggested the emphasis should be on sound and lights rather than the super high definition camera to record your acting debut. A well made point in the article asked the question of how many people use high definition monitors currently – probably not very many. This thought alone should help you talk your way out of that high definition camera the sales person at the gadget store is insisting you need. Get yourself a good quality camera at a fair price, a great microphone and some real studio style lights. Spend some time testing the set up and lighting before making your final take and most of all – have a little fun! There are loads of home style videos floating around the web which seems to indicate that content may carry a bit more weight than style in the demonstration/education video arena. Dry and boring delivery, however, cannot be overlooked as easily as a lack of stylish setting. Smile for the camera and get your 15 minutes of fame!

If your budget is so tight that purchasing new equipment is simply not an option at the moment, you can still put together a product video for basic use. There is an option beyond the PowerPoint slide show – I promise! My most recent discovery is a service called animoto. This service allows you to take product photos and turn them into a video clip. The videos produced are DVD quality, free of service branding and can include music that is already licensed for commercial use. The final product can be used to create DVD’s for your customers, to enhance your website, spruce up your blog content, uploaded to YouTube and more. The cost is very reasonable considering that you do not have to purchase, house, set up or learn to use production equipment. 

For some additional how to assistance, check out this site - they have some great instructional videos! 

The Simple Approach

I have heard rumblings for a while now that as the economy continues to cut people loose from their usual jobs more are considering the path of entrepreneurship. While I am in full support of small business and striking out on your own I have also seen people get so wrapped up in the excitement of the idea that they overlook the effort required to make it work. From my vantage point, the people who have taken the simple approach while steadily working to achieve their business goals are the ones who tend to stick around the longest. Those who spend the majority of their time concerned about the style of the stationary rather than the number of customers tends to experience a shorter version of entrepreneurship.

With that said, for someone just getting started there are so many things to consider and many more pieces of paper to fill out, file and organize. Trying to also juggle the details of marketing pieces like logo design, business products and accounting can make the process a bit overwhelming. How can you make this process simpler? The first thought that comes to my mind is – delegate! Be aware of your budget constraints, but also remember that no one is an expert at everything. If graphic design is not your thing, find someone who can design your logo and letter head for you. The time you save wrestling with the software and cursing your non-artistic genes will allow you to focus on other areas and focus on the making money part of things. Of course, this theory also holds true for accounting and marketing efforts.A big part of entrepreneurship is wearing a lot of different hats, but no one ever said you have to wear the expert version of each hat. As things begin to come together for your business venture, consider where your talents lie and where you could best use someone else’s talents to keep your company growing. Leverage your time with the skills you can afford to outsource and then reach for the stars!

With respect to office supplies – I might suggest starting simple and upgrading later when you have the funds and the need. If accounting makes you a bit uncomfortable, consider a one-write system to help you keep track of your check writing. When your needs outgrow this tool you can upgrade to a software program or an employee to handle the new level of need. In the time between you will keep money in the company coffers while still meeting your immediate needs. When purchasing business checks and envelopes, look for a supplier that offers inclusive pricing – and perhaps free shipping! If adding your logo is an additional cost and you don’t absolutely need it for credibility, save the money and get the basic version to get you started. Your forms will still look professional and you can upgrade later when the money is flowing a bit more freely.

Advertising and marketing is always a tricky thing when you are getting started. You need to allocate funds to address both needs, but working on a tight budget you can be forced to get a bit creative. Check out networking sites like Biznik and LinkedIn that allow you a free sign up and access to connecting with other people experiencing similar situations. Make those connections and gather some sage advice to get you started. You can also check out sites like Merchant Circle that allow you to establish an on line presence for your company at little or no charge. They also offer opportunities for advertising and, in some cases, allow for a single ad to be run at no cost just for setting up your account. The other thing to consider is the Social Media craze. I won’t get into the full scope of pro’s and con’s, but investigate it to see if it might be a good fit for your business. Twitter and Facebook are free to use and both offer a chance to get your company name out to the general public in another way. When you have more money to spend on advertising, you can run ads through Facebook and other spots like Google, Bing, Business.com, etc.

There is a lot to consider when striking out on your own. It can be immensely rewarding, but a lot of hard work. If you stick with it and use as many of the free tools available to build your presence it can be a little less expensive!

EZ Tax Form Filing

Regardless of your company size, the annual tax form adventure is looming on the horizon! A time when sales of headache cures spike and tempers run a little shorter than usual, most people wonder if they will ever be free of the stress. If you can afford to hire outside assistance to handle the paperwork for you then your stress level should receive a significant decrease during this time. For those who are not quite yet to the delegation level there may be hope for a simpler solution…

What if there was a service allowing you to simply enter the necessary data for your W2 and 1099 filings, push an “enter” button and then get back to business? No need to buy special tax forms, paper stock or envelopes. No bulk buying of postage. No frantic rush to print and mail by the due date. Would this help to keep the headaches away?

Fret not – there is such a service! EZ1099W2.com is an online service that allows you to set up an account and then update with the necessary information for your W2 and 1099 filings. Once you add the information, the service takes care of mailing copies to the appropriate parties and e-filing with the IRS or SSA. A digital copy is sent to you, the payee, for your records along with email confirmation that the forms have been filed on your behalf. Another great feature is that if your employees remain the same from year to year, their information is already in your account so you simply have to update the data for each form making the process even quicker! Pricing for the service is based on a per form filing, so you pay for only what you use. 

Check it out and let us know your thoughts!

The Art of Presentation

A lot of companies seek to set themselves apart from their competition and will try a variety of ways to accomplish this goal. Some will develop advertising campaigns, others will make distinctive changes to their customer service. There is, in fact, a ton of ways to set about making your mark as a business, but some are a bit simpler than others.

Consider the last time you paid for a service (oil change, tax preparation) or received a set of important documents (mortgage paperwork, presentation proposal). Assuming that the service itself was flawless, how was the paperwork/payment handled? Did you receive an unruly pile of papers/receipts or were they handed to you neatly organized in a folder? Which of these delivery methods would make its mark in your memory? Odds are that the paperwork handed over organized in a clean folder is more likely to leave the impression that you did business with a professional organization rather than the average Joe.

I realize this seems a bit of a stretch, but consider this example… What marks the difference between a Coach Bag and the want to look like version available at Target? Both bags are made of leather and follow the style of the season. Yes, there are some differences in the quality of the leather and construction, but all things considered they both hold your things as you travel about town and act as a fashion accessory for your outfit. From a shopping perspective, what sets them apart is the presentation of the bags as they are made available to the consumer. Things like the décor and atmosphere of the shop itself set the tone of expectation that one bag is significantly better than the other. Consider, as well, that Coach is well branded as a company making it instantly recognizable as something people are willing to pay more to own. When you buy a bag at Target, it gets added to your plastic shopping bag along with your other purchases. A Coach bag is presented to you in a protective cloth storage bag and then placed in branded packaging giving it a special status as an item worthy of its own shopping bag. There are a number of other differences that I could relay, but you are probably getting the point… or wondering where in the world I am going with this analogy! 

If your business involves services such as tax preparation or someone who handles mortgage applications and paperwork, would you prefer to be considered the Target or Coach of your industry? Which perception will help your bottom line? Beyond your office decor and personal attire, what can help set you apart from the Average Joe version of your business? Presentation to the customer! If you need to present your customers with a pile of papers for signing and filing their perception is sure to be significantly impacted by receiving these documents in a professional looking folder than one large pile. Add your company logo to these folders and you have very simply reinforced your branding efforts while also providing a visual reminder to your customer the next time they need your service and revisit these forms to see who they used before. Don’t believe me? Give it a try with a small test batch and see if you notice a change in the reaction of your customers.

New Kid on the Tax Block - 1099-K

It could be that I am a little behind on the tax related water cooler chat, but I recently started hearing about this new 1099-K form. Spurred by my curiosity to know what this new form is all about I hit the web for some research. As with most things related to the IRS there are some very strong opinions about the implementation of this new form and the implications it has on the business community – particularly the small businesses. As we prepare to embrace the 2011 tax adventures, check out the details below to be sure you have a handle on things to come!

The 1099-K form was put into play along with the Housing Assistance Tax Act of 2008 and will be introduced to the tax filing process for the 2011 tax year.

The form will be generated by banks and/or payment processing services. Business owners will simply receive their copy of the form for tax filing.

It appears that the form is being implemented in an effort to better track income streams from credit/debit cards, gift cards and PayPal type services.

A 1099-K form will be required when a merchant has 200+ payment transactions totaling $20,000 or more in a given year.

The form is not yet available for procurement, but will be made available in 2011 along with the usual tax forms. For the curious minds, a sample can be viewed on the IRS website to familiarize yourself with the information and its layout. 

For additional information, check out these postings!

http://www.gaebler.com/IRS-Form-1099-K.htm

http://money.cnn.com/2010/05/21/smallbusiness/1099_deluge/index.htm

http://staciestaxtips.blogspot.com/2009/11/have-you-heard-about-form-1099k.html