I’ve had startup founders tell me that it’s only about the color of the money, but I disagree. Particularly if you are desperate, keep in mind the person who finds a good-looking partner to take home from the bar at closing time, but then wakes up in the morning wondering “What did I just do?” Taking on an investor is like getting married – the relationship has to work at all levels.
Due diligence on an investor is where you validate the track record, operating style, and motivation of your new potential partner. Maybe more importantly, you need to confirm that the investor “chemistry” matches yours. Here are some techniques for making the assessment:
- Talk to other investors. The investment community in any geographic area is not that large, and most investors have relationships or knowledge of most of the others. Of course, you need to listen for biases, but local angel group leaders can quickly tell you who the bad angels and good angels are, and what kind of terms they typically demand.
- Network with other entrepreneurs. Contact peers you have met through networking, both ones who have used this investor, and ones who haven’t. Ask the investor for “references,” meaning contacts at companies where previous investments were made. Don’t just call, but personally visit these contacts.
- Check track record on the Internet and social network. Do a simple Google search like you would on any company or individual before signing a contract. Look for positive or negative news articles, any controversial relationships, and involvement in community organizations. Check the profile of principals on LinkedIn and Facebook.
- Spend time with investors in a non-work environment. As with any relationship, don’t just close the deal in a heated rush. Invite the investment principal to a sports event, or join them in helping at a non-profit cause. Here is where you will really learn if there is a chemistry match that will likely lead to a good mentoring and business relationship.
- Validate business and financial status. Visit the firm’s website and read it carefully. Look for a background and experience in your industry, as well as quality and style. Conduct a routine credit and criminal check, using commercial services like HireRight. Be wary of individuals or funds sourced from offshore.
If you think all this sounds a bit sinister and unnecessary, go back and read again some of the articles about Bernie Madoff and recent investment scams. Remember, if it sounds too good to be true, it probably isn’t true. Entrepreneurs are optimists by nature, so I definitely recommend the involvement of your favorite attorney (usually the pessimist).
I recognize that it has been tough to raise capital these last couple of years, but don’t be tempted to take money from any source. This can be a big mistake, with common complaints running the gamut from unreasonable terms, constant pressure, to company takeovers. Be vigilant and ask questions.
A successful entrepreneur-investor agreement better be the beginning of a long-term relationship. If you don’t feel excited and energized by your first discussions with an investor, give it some time and do your homework. If the feeling doesn’t grow, it may be time to move on. It’s better to be alone than to wish you were alone.
Martin Zwilling is CEO & Founder of Startup Professionals, Inc.; he also serves as Board Member and Executive in Residence at Callaman Ventures and is an advisory board member for multiple startups.This post was originally published on his blog, and it is republished here with permission.
As part of the ongoing Mashable Awards, we’re taking a closer look at each of the nomination categories. This is “Best Social Media Service for Small Business.” Be sure to nominate your favorites and join us for the Gala in Las Vegas! Sponsorships are available. Please contact sponsorships@mashable.com for more information.
Throughout the year we’ve spoken to many small business owners, asking them about their best practices, recommendations and success stories in the social media space.
Pulling from their experiences, we’ve learned that choosing social platforms should be based on what type of content your company produces, where your audience is already active, what your goals are, and how you plan to add value for your business’s followers.
While every social platform isn’t fit for all businesses, there are quite a few standout services that can be utilized throughout many industries. Here are our top picks for social media services for small businesses — many of these may not be surprising, but that’s because the success stories we’ve heard have proven them over and over again.
Which social media services do you recommend for small businesses? Add your thoughts in the comments below.
1. Communications Service: Twitter
When you ask business owners about their social media strategies, Facebook
For quick, effective communication, though, our vote goes to Twitter. The micro-blogging service enables businesses to quickly and effectively enhance customer service, business development, public relations and even lead generation. Through these types of communication, businesses humanize their brands, making them seem more friendly and approachable.
Not only that, unlike many other social sites, Twitter is easy to set up due to its minimalist approach. While setup and growing a following entails a bit of a learning curve for new users, maintaining a Twitter presence is simple once you’ve got it together. In short, Twitter is a big win for small businesses.
Also noteworthy: Facebook
2. Video-Sharing Service: YouTube
From speeches and tours to tutorials and documentaries, small businesses are using web video in a lot of creative ways — even CEOs are getting involved. Businesses are using a number of services, but our top pick for small businesses is still the video king, YouTube.
In November 2008, YouTube surpassed Yahoo as the second largest search engine in the U.S., only next to
Also noteworthy: Vimeo
3. Twitter Photo-Sharing Service: Twitpic
There are a lot of Twitter photo-sharing services to sift through, but the most popular one is TwitPic.
Photo-sharing on Twitter can be a great way to showcase products and give a behind-the-scenes look at your business. Really, you can’t go wrong with most of the Twitter photo-sharing services out there. The majority are easy to use, only require users to sign in via Twitter oAuth, and showcase photos in a timeline. TwitPic adds the extra value of being recognizable within your Twitter stream.
Also noteworthy: Plixi, yfrog
4. Location-Based Service: Foursquare
Social media adoption rates among small businesses have grown dramatically this year, and location-based services are high on the list of emerging platforms of interest. While there are a handful of quality location-based services out there, including the recently launched Facebook Places, we believe that Foursquare still offers the best small business experience.
In the coming year, SCVNGR may give
Also noteworthy: SCVNGR, Gowalla
5. Blogging Platform: Tumblr
Corporate blogs are catching on with companies of all types and sizes. To build an excellent corporate blog, you need compelling content, dedicated writers and, of course, a blogging platform.
Tumblr makes blogging almost as easy as tweeting, and puts a heavier focus on the social aspects of blogging than most platforms. The interface is easy to use, there are a ton of great themes, and the re-blogging feature makes it easy for users to share content.
Also noteworthy: WordPress.com, Blogger
6. Social Media Dashboard: TweetDeck
Dealing with multiple social media accounts across various platforms is a total downer, but luckily there are lots of social media management tools to help, and TweetDeck seems to be a top pick among small business owners that we’ve spoken to. It’s free and enables users to connect across Twitter, Facebook, MySpace
The dashboard is clean, customizable and easy to use, allowing users to organize feeds, mentions, messages and searches across multiple columns.
Also noteworthy: HootSuite
7. Funding Platform: Kickstarter
For startups and small businesses looking for funding, we recommend Kickstarter, a service for crowd sourcing funds for “creative ideas and ambitious endeavors.”
Kickstarter operates on an all-or-nothing model. Project owners choose a goal and a deadline, and if the project isn’t fully funded when time expires, then no money changes hands.
Small businesses can benefit from such a site by starting projects for business goals of all sorts — the most successful projects on Kickstarter are often out-of-the-box undertakings, though, so get creative. One recent project, for example, has a goal of buying equipment to make sheep’s milk soap. The farmer already herds sheep but is looking to raise funds to pay for an expansion of her soap production business. The project has already attracted 16 backers to fulfill the $500 goal, and it still has a few weeks to go.
Also noteworthy: IndieGoGo, Invested.in
What’s Your Take?
Which social media services does your small business use and recommend? Let us know in the comments or nominate them for the Mashable Awards.
The Mashable Awards Gala at Cirque du Soleil Zumanity (Vegas)
In partnership with Cirque du Soleil, The Mashable Awards Gala event will bring together the winners and nominees, the
Date: Thursday, January 6th, 2011 (during International CES Convention week)
Thanks to our sponsors:
Mashable Awards Gala Partner:
From a group of 20 street performers at its beginnings in 1984, Cirque du Soleil is now a global entertainment organization providing high-quality artistic entertainment. The company has over 5,000 employees, including more than 1,200 artists from close to 50 different countries.
Cirque du Soleil has brought wonder and delight to nearly 100 million spectators in 300 cities on five continents. In 2010 Cirque du Soleil, will present 21 shows simultaneously throughout the world, including seven in Las Vegas.
For more information about Cirque du Soleil, visit www.cirquedusoleil.com
Mashable Awards Online Partner:
Have you ever wished for your own personal gourmet Chef?
The Fresh Diet is like having a Cordon Bleu chef prepare your meals in your own kitchen. There’s no cooking, cleaning, shopping – just fresh prepared delicious meals, hand delivered to your door daily! Whether you want to lose weight or just want to eat healthy, The Fresh Diet can help you meet your goals. The best news, we’re giving away a FREE week of The Fresh Diet every day on our Facebook page. Just click here to become a fan and you could be the next winner. Join now!
Mashable Awards Partner:
Join us at the 2011 International CES®, the global platform for inspired ideas and innovation. With 2,500 exhibitors, CES continues to be the world’s largest consumer technology tradeshow and always reflects the dynamic consumer electronics industry. The International CES is not open to the general public and all attendees must be in the CE industry to be eligible to attend the show. Register FREE for the 2011 CES with priority code MSHB, an exclusive promotion for Mashable Readers.
Mashable Awards Gala VIP Lounge sponsor:
Influxis specializes in the deployment of creative streaming solutions. Services include large scale deployment, mobile streaming, turn-key applications, and enterprise support with custom network options. With the unique combination of a worldwide network, knowledgeable developer support and nearly a decade of streaming media experience, Influxis is an essential partner to businesses, advertisers, developers, educators, and others who seek expertise in innovative streaming.
Sponsorships are available. Please contact sponsorships@mashable.com for more information.
Image courtesy of DaddyDesign
For more Business coverage:
bench craft company
Even FOX <b>News</b> Not Hiring Christine O'Donnell
FOX News not doing something is always a banner news item. They also didn't burn down the Empire State building today or march naked through Times Square. Don't miss writing news copy about that! ...
<b>News</b> Corp. Says MySpace Losses Unsustainable | Peter Kafka <b>...</b>
That big Myspace relaunch we read about last week? That's all fine and good. But the troubled Web property is a...really troubled Web property, its News Corp. parent stressed today. And it needs to get its act together before it gets ...
Fox <b>News</b> On Christine O'Donnell - Mediate.com
The midterms are over, and while the GOP regained control of the House, the coronation of the Tea Party movement is still up for debate. Sure, a number of Tea Party candidates won their races, but perhaps the most visible -- Delaware ...
bench craft company
Due diligence should always be a two-way street. A while back, I published an article on “Understanding the Dreaded Investor Due Diligence,” describing what investors do to validate your startup before they invest. Here is the inverse, sometimes called reverse due diligence, describing what you should do to validate your investor before signing up for an equity partnership.
I’ve had startup founders tell me that it’s only about the color of the money, but I disagree. Particularly if you are desperate, keep in mind the person who finds a good-looking partner to take home from the bar at closing time, but then wakes up in the morning wondering “What did I just do?” Taking on an investor is like getting married – the relationship has to work at all levels.
Due diligence on an investor is where you validate the track record, operating style, and motivation of your new potential partner. Maybe more importantly, you need to confirm that the investor “chemistry” matches yours. Here are some techniques for making the assessment:
- Talk to other investors. The investment community in any geographic area is not that large, and most investors have relationships or knowledge of most of the others. Of course, you need to listen for biases, but local angel group leaders can quickly tell you who the bad angels and good angels are, and what kind of terms they typically demand.
- Network with other entrepreneurs. Contact peers you have met through networking, both ones who have used this investor, and ones who haven’t. Ask the investor for “references,” meaning contacts at companies where previous investments were made. Don’t just call, but personally visit these contacts.
- Check track record on the Internet and social network. Do a simple Google search like you would on any company or individual before signing a contract. Look for positive or negative news articles, any controversial relationships, and involvement in community organizations. Check the profile of principals on LinkedIn and Facebook.
- Spend time with investors in a non-work environment. As with any relationship, don’t just close the deal in a heated rush. Invite the investment principal to a sports event, or join them in helping at a non-profit cause. Here is where you will really learn if there is a chemistry match that will likely lead to a good mentoring and business relationship.
- Validate business and financial status. Visit the firm’s website and read it carefully. Look for a background and experience in your industry, as well as quality and style. Conduct a routine credit and criminal check, using commercial services like HireRight. Be wary of individuals or funds sourced from offshore.
If you think all this sounds a bit sinister and unnecessary, go back and read again some of the articles about Bernie Madoff and recent investment scams. Remember, if it sounds too good to be true, it probably isn’t true. Entrepreneurs are optimists by nature, so I definitely recommend the involvement of your favorite attorney (usually the pessimist).
I recognize that it has been tough to raise capital these last couple of years, but don’t be tempted to take money from any source. This can be a big mistake, with common complaints running the gamut from unreasonable terms, constant pressure, to company takeovers. Be vigilant and ask questions.
A successful entrepreneur-investor agreement better be the beginning of a long-term relationship. If you don’t feel excited and energized by your first discussions with an investor, give it some time and do your homework. If the feeling doesn’t grow, it may be time to move on. It’s better to be alone than to wish you were alone.
Martin Zwilling is CEO & Founder of Startup Professionals, Inc.; he also serves as Board Member and Executive in Residence at Callaman Ventures and is an advisory board member for multiple startups.This post was originally published on his blog, and it is republished here with permission.
As part of the ongoing Mashable Awards, we’re taking a closer look at each of the nomination categories. This is “Best Social Media Service for Small Business.” Be sure to nominate your favorites and join us for the Gala in Las Vegas! Sponsorships are available. Please contact sponsorships@mashable.com for more information.
Throughout the year we’ve spoken to many small business owners, asking them about their best practices, recommendations and success stories in the social media space.
Pulling from their experiences, we’ve learned that choosing social platforms should be based on what type of content your company produces, where your audience is already active, what your goals are, and how you plan to add value for your business’s followers.
While every social platform isn’t fit for all businesses, there are quite a few standout services that can be utilized throughout many industries. Here are our top picks for social media services for small businesses — many of these may not be surprising, but that’s because the success stories we’ve heard have proven them over and over again.
Which social media services do you recommend for small businesses? Add your thoughts in the comments below.
1. Communications Service: Twitter
When you ask business owners about their social media strategies, Facebook
For quick, effective communication, though, our vote goes to Twitter. The micro-blogging service enables businesses to quickly and effectively enhance customer service, business development, public relations and even lead generation. Through these types of communication, businesses humanize their brands, making them seem more friendly and approachable.
Not only that, unlike many other social sites, Twitter is easy to set up due to its minimalist approach. While setup and growing a following entails a bit of a learning curve for new users, maintaining a Twitter presence is simple once you’ve got it together. In short, Twitter is a big win for small businesses.
Also noteworthy: Facebook
2. Video-Sharing Service: YouTube
From speeches and tours to tutorials and documentaries, small businesses are using web video in a lot of creative ways — even CEOs are getting involved. Businesses are using a number of services, but our top pick for small businesses is still the video king, YouTube.
In November 2008, YouTube surpassed Yahoo as the second largest search engine in the U.S., only next to
Also noteworthy: Vimeo
3. Twitter Photo-Sharing Service: Twitpic
There are a lot of Twitter photo-sharing services to sift through, but the most popular one is TwitPic.
Photo-sharing on Twitter can be a great way to showcase products and give a behind-the-scenes look at your business. Really, you can’t go wrong with most of the Twitter photo-sharing services out there. The majority are easy to use, only require users to sign in via Twitter oAuth, and showcase photos in a timeline. TwitPic adds the extra value of being recognizable within your Twitter stream.
Also noteworthy: Plixi, yfrog
4. Location-Based Service: Foursquare
Social media adoption rates among small businesses have grown dramatically this year, and location-based services are high on the list of emerging platforms of interest. While there are a handful of quality location-based services out there, including the recently launched Facebook Places, we believe that Foursquare still offers the best small business experience.
In the coming year, SCVNGR may give
Also noteworthy: SCVNGR, Gowalla
5. Blogging Platform: Tumblr
Corporate blogs are catching on with companies of all types and sizes. To build an excellent corporate blog, you need compelling content, dedicated writers and, of course, a blogging platform.
Tumblr makes blogging almost as easy as tweeting, and puts a heavier focus on the social aspects of blogging than most platforms. The interface is easy to use, there are a ton of great themes, and the re-blogging feature makes it easy for users to share content.
Also noteworthy: WordPress.com, Blogger
6. Social Media Dashboard: TweetDeck
Dealing with multiple social media accounts across various platforms is a total downer, but luckily there are lots of social media management tools to help, and TweetDeck seems to be a top pick among small business owners that we’ve spoken to. It’s free and enables users to connect across Twitter, Facebook, MySpace
The dashboard is clean, customizable and easy to use, allowing users to organize feeds, mentions, messages and searches across multiple columns.
Also noteworthy: HootSuite
7. Funding Platform: Kickstarter
For startups and small businesses looking for funding, we recommend Kickstarter, a service for crowd sourcing funds for “creative ideas and ambitious endeavors.”
Kickstarter operates on an all-or-nothing model. Project owners choose a goal and a deadline, and if the project isn’t fully funded when time expires, then no money changes hands.
Small businesses can benefit from such a site by starting projects for business goals of all sorts — the most successful projects on Kickstarter are often out-of-the-box undertakings, though, so get creative. One recent project, for example, has a goal of buying equipment to make sheep’s milk soap. The farmer already herds sheep but is looking to raise funds to pay for an expansion of her soap production business. The project has already attracted 16 backers to fulfill the $500 goal, and it still has a few weeks to go.
Also noteworthy: IndieGoGo, Invested.in
What’s Your Take?
Which social media services does your small business use and recommend? Let us know in the comments or nominate them for the Mashable Awards.
The Mashable Awards Gala at Cirque du Soleil Zumanity (Vegas)
In partnership with Cirque du Soleil, The Mashable Awards Gala event will bring together the winners and nominees, the
Date: Thursday, January 6th, 2011 (during International CES Convention week)
Thanks to our sponsors:
Mashable Awards Gala Partner:
From a group of 20 street performers at its beginnings in 1984, Cirque du Soleil is now a global entertainment organization providing high-quality artistic entertainment. The company has over 5,000 employees, including more than 1,200 artists from close to 50 different countries.
Cirque du Soleil has brought wonder and delight to nearly 100 million spectators in 300 cities on five continents. In 2010 Cirque du Soleil, will present 21 shows simultaneously throughout the world, including seven in Las Vegas.
For more information about Cirque du Soleil, visit www.cirquedusoleil.com
Mashable Awards Online Partner:
Have you ever wished for your own personal gourmet Chef?
The Fresh Diet is like having a Cordon Bleu chef prepare your meals in your own kitchen. There’s no cooking, cleaning, shopping – just fresh prepared delicious meals, hand delivered to your door daily! Whether you want to lose weight or just want to eat healthy, The Fresh Diet can help you meet your goals. The best news, we’re giving away a FREE week of The Fresh Diet every day on our Facebook page. Just click here to become a fan and you could be the next winner. Join now!
Mashable Awards Partner:
Join us at the 2011 International CES®, the global platform for inspired ideas and innovation. With 2,500 exhibitors, CES continues to be the world’s largest consumer technology tradeshow and always reflects the dynamic consumer electronics industry. The International CES is not open to the general public and all attendees must be in the CE industry to be eligible to attend the show. Register FREE for the 2011 CES with priority code MSHB, an exclusive promotion for Mashable Readers.
Mashable Awards Gala VIP Lounge sponsor:
Influxis specializes in the deployment of creative streaming solutions. Services include large scale deployment, mobile streaming, turn-key applications, and enterprise support with custom network options. With the unique combination of a worldwide network, knowledgeable developer support and nearly a decade of streaming media experience, Influxis is an essential partner to businesses, advertisers, developers, educators, and others who seek expertise in innovative streaming.
Sponsorships are available. Please contact sponsorships@mashable.com for more information.
Image courtesy of DaddyDesign
For more Business coverage:
bench craft company
Even FOX <b>News</b> Not Hiring Christine O'Donnell
FOX News not doing something is always a banner news item. They also didn't burn down the Empire State building today or march naked through Times Square. Don't miss writing news copy about that! ...
<b>News</b> Corp. Says MySpace Losses Unsustainable | Peter Kafka <b>...</b>
That big Myspace relaunch we read about last week? That's all fine and good. But the troubled Web property is a...really troubled Web property, its News Corp. parent stressed today. And it needs to get its act together before it gets ...
Fox <b>News</b> On Christine O'Donnell - Mediate.com
The midterms are over, and while the GOP regained control of the House, the coronation of the Tea Party movement is still up for debate. Sure, a number of Tea Party candidates won their races, but perhaps the most visible -- Delaware ...
bench craft company
bench craft company
bench craft company
Even FOX <b>News</b> Not Hiring Christine O'Donnell
FOX News not doing something is always a banner news item. They also didn't burn down the Empire State building today or march naked through Times Square. Don't miss writing news copy about that! ...
<b>News</b> Corp. Says MySpace Losses Unsustainable | Peter Kafka <b>...</b>
That big Myspace relaunch we read about last week? That's all fine and good. But the troubled Web property is a...really troubled Web property, its News Corp. parent stressed today. And it needs to get its act together before it gets ...
Fox <b>News</b> On Christine O'Donnell - Mediate.com
The midterms are over, and while the GOP regained control of the House, the coronation of the Tea Party movement is still up for debate. Sure, a number of Tea Party candidates won their races, but perhaps the most visible -- Delaware ...
bench craft company
Due diligence should always be a two-way street. A while back, I published an article on “Understanding the Dreaded Investor Due Diligence,” describing what investors do to validate your startup before they invest. Here is the inverse, sometimes called reverse due diligence, describing what you should do to validate your investor before signing up for an equity partnership.
I’ve had startup founders tell me that it’s only about the color of the money, but I disagree. Particularly if you are desperate, keep in mind the person who finds a good-looking partner to take home from the bar at closing time, but then wakes up in the morning wondering “What did I just do?” Taking on an investor is like getting married – the relationship has to work at all levels.
Due diligence on an investor is where you validate the track record, operating style, and motivation of your new potential partner. Maybe more importantly, you need to confirm that the investor “chemistry” matches yours. Here are some techniques for making the assessment:
- Talk to other investors. The investment community in any geographic area is not that large, and most investors have relationships or knowledge of most of the others. Of course, you need to listen for biases, but local angel group leaders can quickly tell you who the bad angels and good angels are, and what kind of terms they typically demand.
- Network with other entrepreneurs. Contact peers you have met through networking, both ones who have used this investor, and ones who haven’t. Ask the investor for “references,” meaning contacts at companies where previous investments were made. Don’t just call, but personally visit these contacts.
- Check track record on the Internet and social network. Do a simple Google search like you would on any company or individual before signing a contract. Look for positive or negative news articles, any controversial relationships, and involvement in community organizations. Check the profile of principals on LinkedIn and Facebook.
- Spend time with investors in a non-work environment. As with any relationship, don’t just close the deal in a heated rush. Invite the investment principal to a sports event, or join them in helping at a non-profit cause. Here is where you will really learn if there is a chemistry match that will likely lead to a good mentoring and business relationship.
- Validate business and financial status. Visit the firm’s website and read it carefully. Look for a background and experience in your industry, as well as quality and style. Conduct a routine credit and criminal check, using commercial services like HireRight. Be wary of individuals or funds sourced from offshore.
If you think all this sounds a bit sinister and unnecessary, go back and read again some of the articles about Bernie Madoff and recent investment scams. Remember, if it sounds too good to be true, it probably isn’t true. Entrepreneurs are optimists by nature, so I definitely recommend the involvement of your favorite attorney (usually the pessimist).
I recognize that it has been tough to raise capital these last couple of years, but don’t be tempted to take money from any source. This can be a big mistake, with common complaints running the gamut from unreasonable terms, constant pressure, to company takeovers. Be vigilant and ask questions.
A successful entrepreneur-investor agreement better be the beginning of a long-term relationship. If you don’t feel excited and energized by your first discussions with an investor, give it some time and do your homework. If the feeling doesn’t grow, it may be time to move on. It’s better to be alone than to wish you were alone.
Martin Zwilling is CEO & Founder of Startup Professionals, Inc.; he also serves as Board Member and Executive in Residence at Callaman Ventures and is an advisory board member for multiple startups.This post was originally published on his blog, and it is republished here with permission.
As part of the ongoing Mashable Awards, we’re taking a closer look at each of the nomination categories. This is “Best Social Media Service for Small Business.” Be sure to nominate your favorites and join us for the Gala in Las Vegas! Sponsorships are available. Please contact sponsorships@mashable.com for more information.
Throughout the year we’ve spoken to many small business owners, asking them about their best practices, recommendations and success stories in the social media space.
Pulling from their experiences, we’ve learned that choosing social platforms should be based on what type of content your company produces, where your audience is already active, what your goals are, and how you plan to add value for your business’s followers.
While every social platform isn’t fit for all businesses, there are quite a few standout services that can be utilized throughout many industries. Here are our top picks for social media services for small businesses — many of these may not be surprising, but that’s because the success stories we’ve heard have proven them over and over again.
Which social media services do you recommend for small businesses? Add your thoughts in the comments below.
1. Communications Service: Twitter
When you ask business owners about their social media strategies, Facebook
For quick, effective communication, though, our vote goes to Twitter. The micro-blogging service enables businesses to quickly and effectively enhance customer service, business development, public relations and even lead generation. Through these types of communication, businesses humanize their brands, making them seem more friendly and approachable.
Not only that, unlike many other social sites, Twitter is easy to set up due to its minimalist approach. While setup and growing a following entails a bit of a learning curve for new users, maintaining a Twitter presence is simple once you’ve got it together. In short, Twitter is a big win for small businesses.
Also noteworthy: Facebook
2. Video-Sharing Service: YouTube
From speeches and tours to tutorials and documentaries, small businesses are using web video in a lot of creative ways — even CEOs are getting involved. Businesses are using a number of services, but our top pick for small businesses is still the video king, YouTube.
In November 2008, YouTube surpassed Yahoo as the second largest search engine in the U.S., only next to
Also noteworthy: Vimeo
3. Twitter Photo-Sharing Service: Twitpic
There are a lot of Twitter photo-sharing services to sift through, but the most popular one is TwitPic.
Photo-sharing on Twitter can be a great way to showcase products and give a behind-the-scenes look at your business. Really, you can’t go wrong with most of the Twitter photo-sharing services out there. The majority are easy to use, only require users to sign in via Twitter oAuth, and showcase photos in a timeline. TwitPic adds the extra value of being recognizable within your Twitter stream.
Also noteworthy: Plixi, yfrog
4. Location-Based Service: Foursquare
Social media adoption rates among small businesses have grown dramatically this year, and location-based services are high on the list of emerging platforms of interest. While there are a handful of quality location-based services out there, including the recently launched Facebook Places, we believe that Foursquare still offers the best small business experience.
In the coming year, SCVNGR may give
Also noteworthy: SCVNGR, Gowalla
5. Blogging Platform: Tumblr
Corporate blogs are catching on with companies of all types and sizes. To build an excellent corporate blog, you need compelling content, dedicated writers and, of course, a blogging platform.
Tumblr makes blogging almost as easy as tweeting, and puts a heavier focus on the social aspects of blogging than most platforms. The interface is easy to use, there are a ton of great themes, and the re-blogging feature makes it easy for users to share content.
Also noteworthy: WordPress.com, Blogger
6. Social Media Dashboard: TweetDeck
Dealing with multiple social media accounts across various platforms is a total downer, but luckily there are lots of social media management tools to help, and TweetDeck seems to be a top pick among small business owners that we’ve spoken to. It’s free and enables users to connect across Twitter, Facebook, MySpace
The dashboard is clean, customizable and easy to use, allowing users to organize feeds, mentions, messages and searches across multiple columns.
Also noteworthy: HootSuite
7. Funding Platform: Kickstarter
For startups and small businesses looking for funding, we recommend Kickstarter, a service for crowd sourcing funds for “creative ideas and ambitious endeavors.”
Kickstarter operates on an all-or-nothing model. Project owners choose a goal and a deadline, and if the project isn’t fully funded when time expires, then no money changes hands.
Small businesses can benefit from such a site by starting projects for business goals of all sorts — the most successful projects on Kickstarter are often out-of-the-box undertakings, though, so get creative. One recent project, for example, has a goal of buying equipment to make sheep’s milk soap. The farmer already herds sheep but is looking to raise funds to pay for an expansion of her soap production business. The project has already attracted 16 backers to fulfill the $500 goal, and it still has a few weeks to go.
Also noteworthy: IndieGoGo, Invested.in
What’s Your Take?
Which social media services does your small business use and recommend? Let us know in the comments or nominate them for the Mashable Awards.
The Mashable Awards Gala at Cirque du Soleil Zumanity (Vegas)
In partnership with Cirque du Soleil, The Mashable Awards Gala event will bring together the winners and nominees, the
Date: Thursday, January 6th, 2011 (during International CES Convention week)
Thanks to our sponsors:
Mashable Awards Gala Partner:
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Even FOX <b>News</b> Not Hiring Christine O'Donnell
FOX News not doing something is always a banner news item. They also didn't burn down the Empire State building today or march naked through Times Square. Don't miss writing news copy about that! ...
<b>News</b> Corp. Says MySpace Losses Unsustainable | Peter Kafka <b>...</b>
That big Myspace relaunch we read about last week? That's all fine and good. But the troubled Web property is a...really troubled Web property, its News Corp. parent stressed today. And it needs to get its act together before it gets ...
Fox <b>News</b> On Christine O'Donnell - Mediate.com
The midterms are over, and while the GOP regained control of the House, the coronation of the Tea Party movement is still up for debate. Sure, a number of Tea Party candidates won their races, but perhaps the most visible -- Delaware ...
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bench craft company
Even FOX <b>News</b> Not Hiring Christine O'Donnell
FOX News not doing something is always a banner news item. They also didn't burn down the Empire State building today or march naked through Times Square. Don't miss writing news copy about that! ...
<b>News</b> Corp. Says MySpace Losses Unsustainable | Peter Kafka <b>...</b>
That big Myspace relaunch we read about last week? That's all fine and good. But the troubled Web property is a...really troubled Web property, its News Corp. parent stressed today. And it needs to get its act together before it gets ...
Fox <b>News</b> On Christine O'Donnell - Mediate.com
The midterms are over, and while the GOP regained control of the House, the coronation of the Tea Party movement is still up for debate. Sure, a number of Tea Party candidates won their races, but perhaps the most visible -- Delaware ...
bench craft company
Even FOX <b>News</b> Not Hiring Christine O'Donnell
FOX News not doing something is always a banner news item. They also didn't burn down the Empire State building today or march naked through Times Square. Don't miss writing news copy about that! ...
<b>News</b> Corp. Says MySpace Losses Unsustainable | Peter Kafka <b>...</b>
That big Myspace relaunch we read about last week? That's all fine and good. But the troubled Web property is a...really troubled Web property, its News Corp. parent stressed today. And it needs to get its act together before it gets ...
Fox <b>News</b> On Christine O'Donnell - Mediate.com
The midterms are over, and while the GOP regained control of the House, the coronation of the Tea Party movement is still up for debate. Sure, a number of Tea Party candidates won their races, but perhaps the most visible -- Delaware ...
bench craft company
Even FOX <b>News</b> Not Hiring Christine O'Donnell
FOX News not doing something is always a banner news item. They also didn't burn down the Empire State building today or march naked through Times Square. Don't miss writing news copy about that! ...
<b>News</b> Corp. Says MySpace Losses Unsustainable | Peter Kafka <b>...</b>
That big Myspace relaunch we read about last week? That's all fine and good. But the troubled Web property is a...really troubled Web property, its News Corp. parent stressed today. And it needs to get its act together before it gets ...
Fox <b>News</b> On Christine O'Donnell - Mediate.com
The midterms are over, and while the GOP regained control of the House, the coronation of the Tea Party movement is still up for debate. Sure, a number of Tea Party candidates won their races, but perhaps the most visible -- Delaware ...
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Even FOX <b>News</b> Not Hiring Christine O'Donnell
FOX News not doing something is always a banner news item. They also didn't burn down the Empire State building today or march naked through Times Square. Don't miss writing news copy about that! ...
<b>News</b> Corp. Says MySpace Losses Unsustainable | Peter Kafka <b>...</b>
That big Myspace relaunch we read about last week? That's all fine and good. But the troubled Web property is a...really troubled Web property, its News Corp. parent stressed today. And it needs to get its act together before it gets ...
Fox <b>News</b> On Christine O'Donnell - Mediate.com
The midterms are over, and while the GOP regained control of the House, the coronation of the Tea Party movement is still up for debate. Sure, a number of Tea Party candidates won their races, but perhaps the most visible -- Delaware ...
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The Obama tax plan has been fodder for much controversy, and tax planning for the rich - those who are making money and stand to get hit with Obama taxes - is the new cottage industry for any CPA whose clients face increased taxes for earning in excess of $250,000.
Obama Taxes Affect Roughly 7% of Residents Making Money
The Wall Street Journal reveals that about 7% of American taxpayers - 3.8 million - fall into the bracket of making money in excess of $200,000. Their tax burden translates into 62% of all federal taxes received. Under the Obama tax plan, a good number of deductions are slated for phase out, while other sources of making money, such as capital gains and also dividend rates, would be taxed at a higher rate.
When Making Money is Penalized, Money-Makers Engage Tax Planners
While the DOW is plunging below 6800, those few who are still making money are not taking the threat of Obama taxes hunkering down. Instead, tax planning for the rich - or those purported to be - is a new cottage industry that has clever CPAs give their clients some startling advice.
ABC News quotes one successful attorney who unabashedly states that at this point the biggest goal is to get the reportable income below $249,999.00. The lawyer's rationale - why bother working hard to subsidize those who are hardly working - resonates with many who are making money and have not jumped on the Obama Administration bandwagon.
Another well to do business owner, a dentist, has determined that putting in less hours, seeing less patients, and taking off more time will get the reportable income just under the $250,000 mark. Sure, it also means laying off staff, but this is the nature of business. When making money is penalized, a decrease in productivity is tacitly rewarded.
Is the Law of Unintended Consequences at Work?
The Obama tax plan may have sounded reasonable on paper, but when fleshing it out with real life American taxpayers, it would appear that penalizing anyone making money is not going to go as well as was hoped. Perhaps the president forgot that not all of the money makers are actually democrats.
While Oprah and George Clooney might not mind paying extra, the upper middle class and those raking in just barely more than $250,000 - at the expense of long nights, working on weekends, and not seeing the family as much as they want to - may not appreciate having their making money penalized.
Perhaps it is the law of unintended consequences that will find many of these folks cutting back, which in turn not only reduces the hoped for tax revenues, but also contributes to the pool of unemployed, as small business owners are letting employees go.
Sources
http://online.wsj.com/article/SB123561551065378405.html?mod=djemEditorialPage; http://abcnews.go.com/Business/Economy/story?id=6975547&page=1
