Pitfalls of online marketing

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When you decide to take the plunge in the maelstrom of online marketing you soon discover that the waters are infested with plenty of sharks! There are lots of people online offering you every kind of 'sure-fire' 'get rich' scheme or system, simply guaranteed to earn you a fortune whilst you sleep!

Of course, the truth is is completely different. So, before you take the plunge be sure to ask yourself a few questions:

1. What are other people saying about the individuals making the claims - check on Google and elsewhere but be sure to check out sites that aren't just repeating the claims. Many of these schemes are like multi-level marketing scams and so there are lots of folk promoting the schemes hoping to earn referral revenues of the back of them.

2. Also, do they have a proper business address and contact details? A genuine business will have these displayed on their site. Do a search in business directories for them and you can check out UK companies on the Companies House website. Basic searches are free so you can find out of the company is real and some basic information about it.

3. Check them out on WHOIS to see who owns the web domain as it will list some contact info. Does this match up to what is displayed on their site?

4. What are they actually claiming - and are they asking you to pay a fee for their product (DVD's, eBooks or even 'turn-key' solutions). Usually, the claims will be extravagant, offer lots of resources for free or at greatly reduced prices, and have lots of pop-ups when you try to close the page in your browser. All these shout out 'STAY AWAY', so move on and avoid them in future.

So, how do you find genuine online marketing help and advice? Well, like anything worth having you pays your money and get what you paid for. Nothing worth having is going to be free in the world of business. So, you will have to pay and the question is 'what will I get for my money?'. Be sure that you will get something worth having before handing over precious cash that your business needs.

One way to find advice and service worth paying for is to check out reputable sites such as The Guardian and The Times, as well as business sites such as Business Link or Federation of Small Business. Look for articles on marketing companies and then check out their web sites (usually listed in the article). Also, visit your local library and check out business directories or visit your local Business Link centre.

Another way is to network with other local businesses and ask them who they recommend. Certainly, you need to do lots of research before leaping in and spending hard-earned cash on engaging an online marketing company or signing up for some scheme you came across on the web.

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Finance for the would-be entrepeneur

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Starting out in business is stressful enough in an of itself but one area that generates more stress than most s that of finance. If you are rich or have lots of spare cash then its probably not an issue. However, for the average entrepreneur, its a major issue.

For myself, it was the biggest issue and the greatest hurdle to overcome. I had no ideas coming up with ideas and over the years i have tried various things.Most never got beyond the first stage, i.e., dreaming about some great business idea that would make me, if not rich, at least as no worse-off than I was working for someone else. Some got a bit further, like the time I started out as a freelance photo-journalist. I put together a great portfolio, visited magazines and publishers and got myself some commissions. Despite persuading my bank manager to give me a line of credit (overdraft, business credit card etc), I eventually hit upon that big hurdle that we all face... cash flow. Unfortunately, the ups and downs of the work and the lack of finance meant that I was soon over-burdened by debt. I couldn’t afford to ride out the ups and downs of commissions and I was also penny-pinching, not able to invest in the equipment I needed, or promotion & marketing my business. Soon I had to go back to my old job of nursing and that meant even less time available for promoting myself etc.

Eventually, I had to abandon the dream of being a world-famous photo-journalist, all because of insufficient finance, as well as others reasons, but that was the man one.

So, what about this time? Well, this time I managed to find myself a ‘business angel’ who gave me start-up finance and is supporting me in the early stages of the business. Its not a huge amount of money but it has managed to get the business started by paying for the all-important stock and initial marketing & promotion. Now I need to secure more substantial funding and that will probably mean approaching my bank. I’d like to think that out there are some grants I could tap into but as yet I haven’t found them.

However, one thing have found very helpful is Business Link. They offer a range of advice services, helpful leaflets and documents, seminars and workshops, most of them free of charge. They also offer support and encouragement. They cover topics such as tax, VAT, marketing, health & safety, importing goods, exporting goods, environmental and efficiency issue etc. Well worth a visit and I recommend speaking with them before you even set out on the road to setting up your business so that you get the right help and advice. After all, if you make a mistake then it could be expensive to put it right. By networking through Business Link you will meet others who are in the same boat as you. You may think of them as competitors but they could also be customers, or possibly even partners.

As regards finance, they will be able to point you in the right direction too. As well as speaking to your local Business Link staff, also speak with your bank manager before you start out as they usually have a business advisor who will help you work through the questions you should be asking yourself, as well as offering discounts on services and usually, free banking for 12 - 18 months.

If you are a young person (aged 18 - 30) the Prince’s Trust may help with grants, advice and support. If you're unemployed, they can to help you set up in business. You could also qualify for a low-interest loan, regular help from a business mentor and more.

Government grants may be available, depending on your location and business idea. Again, check out the Business Link site.

So, in finishing, let me say that getting the finance right is perhaps the most important aspect to making your business a success. Pay more attention to this area than almost any other because it will be the key to your success (or failure). Good luck and be sure to share your experiences.

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