Digital Advertising 101

As a business owner in today’s fast-paced online landscape, you can’t afford to ignore the power of digital marketing. Google and Meta (Facebook, Messenger and Instagram) are the two giants in the digital advertising world, offering a range of advertising options to help you reach your target audience quickly and effectively. Before diving headfirst into these platforms however, it’s essential to understand the basic strategies that can help you make the most of your digital advertising budget. You can waste a lot of money on digital advertising so it’s important to understand the key strategies that every small business owner should know before investing your hard-earned money and time.

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How to build a strong value proposition

If you want to want a strong value proposition that makes people want to do business with you, you need to do much more than write a short fancy sentence…or even a long sentence. While you can sum it up, the summary itself doesn’t carry much weight. Your actual value proposition needs to be woven into the DNA of your business and your relationships with customers. Only then can you start to communicate it to the market through your advertising/marketing.

Read about what make a powerful Value Proposition here.

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Mental Health Challenges for Business Owners

If you take notice of the safety briefing at the start of every flight, the flight attendant tells you to fit your own oxygen mask first before helping anyone you are traveling with.  Seems a bit self centred, but you aren’t much good to those depending on you if you are not in the best position to help them. The same applies to mental health I believe, and as it’s Suicide Awareness week this month, maybe you should think about your own needs in this space for a change.

The Mental Health Foundation has some great resources that can be used in the workplace to proactively manage the issue of mental health. And, its Five Ways of Wellbeing offer constructive, positive advice for managing your wellbeing now and in the year ahead. 

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Exit planning for trades businesses

If you are thinking about selling your business over the next 5-10 years, do you think you will achieve the sale price you need to fund your ideal future in such a potentially crowded marketplace? Of those business owners who intend to exit their business in the next 10 years, 70% intend the sale to fund their retirement, but 87% have no formal plan on how they will do this. (Centre for Small Enterprises – Massey University)

The message of planning a successful exit from business has not yet been taken to heart by the majority of business owners and this may result in a lot of unfulfilled dreams of a long and happy retirement. The general attitude of: “I’ll get round to it when I have to,” is all too prevalent and the point of early planning to maximise value at exit is lost on many.

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Marketing Lesson from Mr Spock

For those of you old enough (like me) to remember Leonard Nimoy as Mr Spock on Star Trek may also remember the Vulcan Mind Meld trick he used to perform.  In order to understand a subject person better or uncover hidden memories, Spock would place his hands on a person’s head and mentally become one with them.  He would then be able to think as that person thinks and of course help save the day in some way.

What does Star Trek got to do with marketing for builders and trades?

In terms of marketing for builders, quite a bit it turns out. When developing your marketing and sales strategies, I want you to think, “Vulcan Mind Meld” as the first thing you do BEFORE you think about spending any time or money on implementing tactics.

Why? Learn more…..

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In business with your spouse

Owning and operating a business with your life partner or spouse is no easy task.

On the bright side there are upsides to working and living with your business partner. For one thing, you trust them. Another big plus for working together is it will save your business money. Hiring your spouse for a role they are well equipped to do, i.e. they have the education, skills and training, is cheaper than hiring someone else. Not only will there be no recruiting fees, but your spouse, like you, may also accept a lower than market rate salary.

However, there’s no way to avoid disagreements that will rise arise from work and personal interaction. Many couples just don’t navigate the obstacles of working and living together very well so if you are in business with your life partner the following tips may help keep you out of the family court going through a divorce.

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A Budget Process in 7 Easy Steps

To most trades business owners the mention of budgeting makes their eyes glaze over or reject the idea outright. “I can’t predict what is going to happen next week, let alone in 6 months or more!” is a common response. But it doesn’t need to be that way. A budget is the best way I know to gain a greater feeling of control over your business and therefore your life.  Knowledge is power, so they say, and the knowledge you will gain about your business and what you need to do in order to change it, is an empowering process. A budget also ensures that you know before the year starts what you need to do to earn the return on your investment that you expect.

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Business is busy, but companies still going bust.

The NZ Herald reported recently that despite construction being very busy, small to mid sized businesses in the industry are still going bust. In fact construction has overtaken food service as the number one business category for liquidations in the first two months of this year. This is one first place award that we should be proud of!

Should you be worried?  Probably. If not worried, you should at least be aware that things are not all glittering out there and you should look at reviewing your financial systems and your understanding of some key numbers. What you can measure, you can manage. What you can manage, you can change. Here are two key financial areas to monitor in your business.

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What to write on your blog page

A good way to naturally rank higher on Google (everyone’s goal) is to ensure that your construction website blog has a good amount of useful information on it that Google recognises as helpful to potential customers. The problem is not many tradespeople are natural writers, or even know where to start. That blinking cursor in the top left hand corner of a blank screen can be a frustrating and scary thing.

As a residential construction company, there are several blog topics that you can write about to showcase your expertise and provide value to your readers. To help get those creative juices flowing here are some ideas:

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How to develop a competitive advantage

A lot of people (including me) talk about competitive advantage and how it is vital to have one for the ongoing success of your business.  This is very true, but what is the BEST sort of competitive advantage to have?

In a highly competitive industry like construction, it can be challenging for small businesses to stand out and establish a competitive advantage. However, with the right strategies and mindset, a small construction company can gain a foothold in the market and develop a competitive edge that can help them thrive and grow. In this article, we will discuss some effective ways to develop a competitive advantage for a small construction company. Click on the article to read more

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