Are You Wasting Your Most Precious Asset To Save Money?

 

You have 24 hours in a day & once it’s gone it cannot be recovered. Unfortunately, you’re probably wasting some of it with the belief that you’re saving money.

Many business owners, you might be one of them, don’t place a dollar value on their time and because of this they spend valuable time doing tasks that they don’t like to do, that they don’t think anyone else can do as well as they can and doing stuff that doesn’t help them build their business.

Some of the things small business owners do that they really should not do are:

  • bookkeeping
  • website development for their business
  • search engine optimization (SEO)
  • pay per click advertising
  • video marketing
  • website legal documents (if they even think the they may need them)
  • and more

Bookkeeping

Bookkeeping is a chore that every business owner has but in most cases you are better off hiring an accountant to keep your books who then either does the taxes or hands them off to your tax preparer.

It’s unlikely that you are aware of the tax law changes that happen each year that may affect your business, it’s a task that you probably don’t like to do and it is a task that does not directly help you grow your business.

Website Development

Many small business owners choose their domain name, choose their web host and build the site themselves or hire some local kid or relative to build a site for them without putting a marketing plan in place first.

The sites are rarely mobile friendly which will hurt you in the search engine rankings starting on April 21, 2015.

Very few of these sites are easy to optimize for the search engines.

The platform on which you choose to build your website makes a difference on how easy and expensive it is to make search engine friendly. Even though most of the CMS’s are free, some of the plug-ins used to make them search engine friendly have a cost associated with them.

You may also need a person that is skilled in the use of these different CMS platforms to get the most out of them.

If the sites are done by a graphic designer, they may look very pretty but that does not translate into a good user experience or conversions, especially on mobile devices.

The hosting platform that you choose for your website may or may not be completely compatible with your CMS and the various plug-ins that you will need to use to get the site to function the way you want it to.

In addition to the functionality of your website, the hosting platform you choose plays a role in how secure you can make your website from hackers.

Search Engine Optimization (SEO)

On page optimization is very important and most DIYers and their friends do not have the skillset needed to optimize for the search engines in today’s environment. This is especially true when it comes to local search.

Unfortunately, Google and the other major search engines are placing more emphasis on paid advertising and local search so even if you get the top spot in the organic search results your listing may be half way down the page and a lot of searchers don’t bother looking below the fold.

Local business owners must have quality websites that rank well in addition to having their citations (name, address, phone number, business description and website) in as many relevant local directories as possible to show up in the local plus customer reviews in the local directories to show up high in the local search listings.

Social proof (your business reputation and your social media presence) is an important ranking factor and how well your website looks on a mobile device will also be an important ranking factor when the new algorithm is put in place on April 21, 2015.

Pay Per Click Advertising

This marketing method can bring highly targeted traffic to your website very quickly if you know what you are doing.

If you don’t know what you are doing or you hire someone to manage your PPC marketing for you and they do not structure your account properly, you can either lose money very quickly or your cost per acquisition could be much higher than it needs to be.

You may not have the marketing budget to pay a good PPC manager what they are worth if you’re spending less than $5000 per month on PPC. In cases like this, you might try to get them to agree to a profit sharing arrangement.

Video Marketing

Video marketing is something that you cannot ignore in 2015. It’s estimated that 57% of all Internet content that’s consumed this year will be video and by 2018 they are forecasting that 80% of all Internet content consumed by the end-user will be delivered by video.

YouTube is owned by Google and it is currently the second most used search engine (Google is the most used search engine.) and it delivers nothing but video.

Optimized YouTube videos that rank well on YouTube will usually do well in the Google search results too.

When you place variations of your YouTube optimized videos on Daily Motion and Vimeo, they may show up well in the Google results too.

Conclusion

Too many business owners either take the DIY approach or they look for the cheapest approach possible instead of looking for a professional that can give them advice based on best practices as they exist today.

One area that is overlooked by a lot of small and medium-sized businesses that have a presence online is the legal policies they need to protect themselves and their business.

A few try to remedy this by using boilerplate policies that they find online but these can be dangerous because the FTC views these policies as a legally binding contract. If you use a boilerplate policy on your website and it is using an inaccurate or outdated language, instead of protecting you that policy can be used against you in a court of law by the FTC.

If you choose to create and market your web presence without the help of professionals, you may be putting both your business and personal assets at risk because businesses that sell to US consumers are under the jurisdiction of the FTC even if their business is located outside of the United States. (The FTC powers are so broad that articles of incorporation and country boundaries mean nothing to them.)

Share this with your friends or business associates then leave a comment below.

Are You Wasting Your Most Precious Asset To Save Money?

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