The biggest constraint that any small business encounters in its initial stages is advertising and promotion budget. The unavailability of funds immobilizes small business owners to launch their company identity through proper promotional campaign. What good is your business logo when it is not evident in the market?

Overcoming the budget constraint!

Lack of media exposure is a prime reason that small business owners fail to initiate their business. In this overcrowded world of media coverage, it is imperative to make your business identity noticeable. Social media is especially helpful in this cause for small business owners who do not have sufficient funds to raise an advertising campaign. In simple terms, social media helps small business in getting heard. It is the cheapest form of promotion.
With the increase in consumer awareness, it is essential for businesses to establish their names in the market. The mindset of consumers has changed drastically over the years. People nowadays emphasize on the brand name rather than the product itself.

The statistical facts:

Common sense apart, there are statistical evidence to proof that social media is gaining popularity among small business owners as well. Recently, The University of Maryland’s Smith School of Business in collaboration with Network Solutions published the Small Business Success Index (SBSI). It is a study that discloses the degree to which small businesses are accepting social media. According to the report, social media adoption among U.S. small businesses doubled in the past year from 12% to 24%.

The report follows a list of extensive figures. Following are the rest of the interesting facts of the study:

• 75% have a business page on a social network site like LinkedIn or Facebook.
• 69% enthusiastically post status updates and articles of interests.
• 57% are building networks through sites like LinkedIn or Facebook.
• 54% monitor customer feedback of their business on social networks.
• 39% run a blog on their area of proficiency or interest.
• 26% tweet information related to their area of interest or knowledge.
• 16% use twitter to provide customer service.

Social Media – Time to embrace:

With all logical and statistical information, it is evident that social media is the best tool in bolstering the image of small businesses. Social media is like a great conflagration that sprawls over the blogosphere within minutes. It spreads out your business information within the blink of an eye. Hence for those who haven’t yet embraced the blessings of social media should start using it right away. The results will be evident within days.

Certainly, the topic today is not new, but surely very controversial one. Being in this corporate world I would like to discuss the importance of logo design contests in a corporate world. The logo design awareness is on a rise and business owners are now very convinced about having a strong corporate identity. But this also brings in number of choices to get a logo design, leaving us confused in the end.

Crossing the basic debate about advantages and disadvantages of Spec work, I would like to highlight a new aspect. Recession has given birth to abundant small businesses, making them approach different logo design contest sites to get a new corporate identity within a limited budget.

Here I would like to ask a question to all the great names of logo design community and expect an honest answer… Is it wrong to get a logo from a contest site, in these low economy times?

Unquestionably, the success and failure of a business immensely relies on its corporate logos and a professional company logos should be our top priority. However, looking at the present economy crisis, when so many people are being laid off, not left with much choice except to start a small business to earn their bread and butter.

Big names of design community evidently oppose design crowd sourcing and ridiculously curse the spec work. Brand stack, Crowd Spring, Inc Spring, 99Designs, MycroBurst and many other such resources are crudely being blamed for supporting this trend of design contest sites. They believe that designers are paid too low on such sites and mostly their hard work is wasted.  I think before tagging the logo design contest sites as immoral and useless, they should consider the present economy breakdown. Every business owner cannot pay big prices of top designers and in such circumstances they are not left with much choice then these contest sites.

After sharing my verdict, I would like to know from you all if the present financial break down is a justifying reason to approach logo design contests and are they really beneficial?

            Running a business definitely requires a lot of work, time and money. However, small business owners believe in small budget marketing strategies which often lead them to wrong decisions. Unfortunately, only few start up businesses make it beyond their 3rd year and this is because of their one mistake which doesn’t let them survive longer.

Yes, small business owners invest a lot of time and money in property and equipment, but do not often match it by investing suitably in their logo. We all are well aware of the value and integrity a corporate logo adds to a business. However, to save their precious bucks, many small business owners avoid getting professional corporate logos.

Below, we go through 10 common logo design mistakes which if small business owners are aware of, can increase their chances of survival.

• Some corporate logo designs turn out to be a paint box with number of colors splashed in single design. Choosing color should be your last decision, so starting your work in black and white is best.
• Using too many fonts in a single logo concept can create lots of confusion. A logo design cluttered with multiple fonts fails to deliver your company message.
• The most common mistake which is getting very common nowadays is copying others designs. If a business owner gets impressed with someone’s logo design, he insists his designers to come up with a similar logo design.

Luckily, all these mistakes are all avoidable and lead us to the right path of success. I think this is the high time that we stop under-estimating the significance of company logos and regardless of our business size, try to opt for quality logo designs.

• Be expressive.
• Be memorable.
• Be unique from competitors.
• Effective in every color (black and white too).
• Be scalable (readable in various sizes and media).
• Communicate product or service’s message and personality.
• Simple for the audience.
• Creates credibility.

Reasons to have a professional logo:

• Portrays your business in a positive and appealing manner
• Defines your business culture and nature to the outside world
• Makes your company stand exclusively among your competitors
• Presents your services/product in a unique way
• Conveys the right message about your business to potential clients
• Business logos are more capable to capture proficient customers

Below I offer you 7 part-time jobs which can be turned into solo business ventures. Maybe any of these small ideas might bring in big business for you.

Bakery Business:

Have you ever checked the sales of the best independent bakeries around the world? I am sure you will be amazed to know how small bakers turned into rich entrepreneurs. In 1994, Jim Lahey started Sullivan Street Bakery after several years experimenting as a home baker. Today, his company has about $6 million in annual revenues and about 90 employees.

Pick up a simple bakery item initially, like cupcakes.  If you start with a $2 as the starting deal I think you can give competition to New York’s famed Magnolia Bakery which sells 2,000 cupcakes a day.

Blogging:

Dress/Jewelry Designing:

EBay Sale:

Book Keeping:

Web Designing:

Floral designer:

Lately, it seems as if business owners (small or big) have nothing else on Earth to discuss other than the recession disaster. The misfortune it has brought to lives of countless people is depressing but I was amazed when I accidentally ran into one of my old buddies at a book store. After regular pleasantries when inquired about his business conditions (thinking he would start whining soon) I was taken aback when he said “He loves the recession and recently bought a new car as well”

Being too impressed by his statement I could just not let him go and offered a cup of coffee at a close by cafeteria. Here he shared some easy and simple ways howto survive the recession and also help my business grow. And yes you are right…I couldn’t stop myself from forwarding it to you all. I am sure soon you will be able to purchase a car (German or Japanese) as well

Reduce prices to keep your customers wallets open :

People are avoiding making expensive and big purchases, so its better that you drop your product prices for time being. In fact, by reducing your prices, you are forcing your customers to keep shopping.

Ease your customers’ fears :

All the gloom and doom news has frightened laymen. When we hear big business tycoons claiming being bankrupt, they get more scared. They are holding back their money thinking it will help them in worst times. Help them relax by understanding that this economic melt-down shall pass soon.

Win their trust :

Firstly, if you want to close a deal with any of your customer try to agree with their perspective. Make them feel that you understand and agree with them. Once they get a feeling that you can understand their problems they will accept your offers.

Respect their dreams :

We all have dreams and want them to be true as soon as possible. To customers, our products and services take them closer to their dreams. Show your sensitivity towards their values and tell them how you can help their dreams come true.

Offer special discounts and bonus :

It’s human nature that “discount” and “Free Coupon” tags always attract customers. Invite customers with special discount days or adding a line of products that customers have been asking for.

Extra services would do some good :

Try offering some extra service of your same field. For example, if you clean residential homes, why not start cleaning windows or cleaning offices. It will get more people approaching you and getting all things done from same place.

Low budget advertisement :

Advertising is always important throughout for every business to get customers flowing in. Rather than avoiding your business advertisement during critical period of recession its better to look for some cheap ways to promote your services. Try some online advertisement with blogging, as earlier I mentioned wonders of blogging for small businesses.