Small business owners interested in finding out how to start using social media should join the Tweet Chat #sbbuzz on Feb 23^rd, 8-10PM (EST).

Tweet Chat on Small Business Success

Anita Campbell, Editor of Small Business Trends, will moderate the discussion to provide additional insight on how to effectively use social networks to generate results.

SBBuzz is a Twitter Chat that allows people to follow a group conversation across Twitter using the hashtag #sbbuzz for search filtering and adding their comments using the hashtag to create a stream of conversation.

For instructions on how to participate in the SBBuzz Tweet Chat, you can go to http://sbbuzz.wordpress.com/instructions/

Pre-tweet Radio Show with Anita Campbell

Prior to the Tweet Chat, Anita will be interviewing Shashi Bellamkonda, “Social Media Swami” (Director of Social Media) here at Network Solutions and Founder of Happenings, Advice and Technology Thoughts, and small business owner, Dr. Alan Glazier, join Anita Campbell for an in-depth discussion on the results of the Small Business Success Index. This special episode will be followed up with a TweetChat at 8:00PM EST including @ShashiB and @smallbiztrends using the hashtag #SBBuzz@SBBuzz.

If you haven’t heard of the Small Business Success Index or SBSI, the SBSI Index measures how they are doing in six key areas of business: capital access, marketing and innovation, workforce, customer service, computer technology and compliance.

To download a copy of the Small Business Success Index and also find out how your business scores on the six key dimensions of small business success, visit www.growsmartbusiness.com.

And of course, don’t forget to join us and Anita on the #sbbuzz chat on Tuesday, Feb 23 from 8-10pm EST!

In the most recent edition of the Small Business Success Index™ (SBSI), the core theme and finding of the report, in its third edition, is centered around “Creativity as a strategy for success”. This third wave of the report, sponsored by Network Solutions® and the Center for Excellence in Service at the University of Maryland’s Smith School of Business also reported that social media adoption by small businesses has doubled from 12 percent to 24 percent in the last year.

For a more in-depth look at the social media findings, there is a great post on Small Business Social Media Adoption Doubles in 2009 at GrowSmartBusiness.com.

Highlights on Small Business Creativity Strategy

From the report, the executive summary mentions how “Small businesses are highly successful in getting referrals from existing customers, but struggle to be creative and differentiate themselves.” The major ways that small businesses differentiate themselves from competitors are:

• Superior customer service (78 percent)
• Higher quality products and services (76 percent)
• Creative ideas to address customers’ needs (65 percent)
• Lower prices (44 percent)

Among these four areas of differentiation, superior service and creativity are correlated with competitive success, while quality and low prices make little difference to small business success.   Perhaps everyone claims to have high quality, making it a marginal strategy for differentiation, while cutting prices is not sustainable for small enterprises that lack the economies of scale to keep costs low.

Being creative is a success strategy for differentiation, but where do small businesses get new ideas for how to grow?  The most common source is customers (68 percent).  Other popular sources include:

• Newsletters and trade journals (52 percent)
• Competitors (50 percent)
• Employees (45 percent)
• Suppliers (41 percent)
• Conferences (38 percent)
• Books (37 percent)

Still, there are challenges for small businesses

From the introduction in the report “The SBSI ranges from 0 to 100, and is currently 75, which can be viewed as a “solid C”.  This level is unchanged from a year ago, and other data reported here suggest that the prolonged recession has restrained the ability of small businesses to improve their situation.  While the overall numbers are largely unchanged, small shifts are occurring on selective indicators of success.  For example, small businesses feel more successful in getting their customers to help find new business for them and in keeping their staff productive.  It would seem that customers and employees alike are doing their best to help small businesses deal with tough times.  This wave of the SBSI provides considerable detail on how the economy is affecting small businesses and how they are responding.”

The report goes on to note “a major obstacle small businesses face today is in the highly important area of capital access, which consists of a small business’ ability to meet short and long range financial needs.  The report for this wave sheds light on this problem, with details and trends on how small businesses finance their needs and how the capital crunch affects owners personally.  This wave of the SBSI also provides depth on other issues and opportunities for small businesses, including the triggers of entrepreneurship, where small businesses get new ideas, the rise of social media as a marketing and management tool, and the global reach of small enterprises.”

To read the rest of the report and download a copy of the Small Business Success Index and also find out how your business scores on the six key dimensions of small business success, visit www.growsmartbusiness.com.

nsBizTip #11

On the Eleventh Day of Business Tips Network Solutions said to me
Practice good communication skills.

Building relationships is critical to the success of any business. How you communicate is just as important, if not more so, than the product or service you are trying to sell. As a small business owner, you need to be able to talk with confidence to your customers, vendors and employees and also interpret types of non-verbal communication.

Be aware of non-verbal cues
When you meet someone, you have just ten seconds to make an impression on them. Elements such as eye contact, a firm handshake, facial expressions, body language, and a calm speaking voice are all part of the interaction. Pay attention to the other person’s non-verbal cues and adjust your approach, mirroring their style, accordingly.

Take care with electronic communications
Recognize the difference between what messages can be delivered electronically (i.e., via email, text or voicemail) versus what must be discussed in person. In general, you should save more emotional matters for face-to-face discussions. Conversely, you should learn how to become more concise with your electronic communications to ensure that you are clear and to the point when delivering facts or outlining action items.

Communicate confidently
Whether speaking or writing, use logic and state the facts to support your opinions. Use goal-oriented language and avoid unnecessary storytelling.

Stay connected with employees
Opening a dialogue with employees will improve operations and morale. Ask your employees what kind of changes they would like to see – they may understand what makes the company tick better than you do. Encourage regular meetings with employees – a short daily huddle, regular team or staff meetings, periodic one-on-one meetings, and/or staff retreats.

Collect customer feedback
Ask your customers to complete a brief survey about their experience with your products or services. This reassures them that you are continually looking for ways to better serve their needs.

Communication is a two-way street. The only way each side can get the desired outcome is by taking the time to specify goals, the associated objectives to meet them and any foreseeable barriers. By following the tips above, your communication will be more effective and command attention.

Stay tuned for more 12 Days of Business Tips. In the meantime,

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the Twelve Days of Business Tips Holiday Sweepstakes
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Day 11 Prize:
nsWebAddress™ – a 100 year domain from Network Solutions (prize value $999.00)

Entries for Day 11 sweepstakes are closed. Click here for more 12 Days of Business Tips.

Three Methods of Entry:
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1. commenting below; and/or
2. posting a “tweet” – must include hash tag #nsBizTip; and/or
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