It's surprising to learn that few small businesses are embracing social networking.
Social networking sites such as Twitter and Facebook can be a cheap form of advertising for small businesses with limited marketing dollars, so one would think they would automatically be operating in thissphere. And, in light of these tough economic times, when just about everybodyneeds to be out there networking, you would think more small businesses wouldbe plugged into social networking?
Not so, according to a survey released Thursday andreported on Reuters.com: www.reuters.com/article/smallBusinessNews/idUSTRE59759L20091008
In the survey, conducted for CitiBank Small Business, three-quarters of small businesses say they have not found sites such as Facebook Twitter and LinkedIn helpful for generating business leads, or expanding business in the past year.A whopping 86% said they have not used social networking sites for information or business advice, the survey also said.
In my former Milwaukee Journal Sentinel business column, I featured several small business owners who are successfully building their brands through social networking. One example is Joe Woelfle, the owner and CEO of Blatz Market &Liquor in Milwaukee. He has built a loyal fan base by tapping into Facebook tomarket his Milwaukee liquor store. Joe talked about how he uses Facebook to post updates about new products he's offering.
Based on such reporting, I held the view that small business owners were increasingly tapping social networking as a resource for marketing their products and connecting with consumers.
But now, based on this new survey, I realize that's not thestory at all. The Reuters.com piece notes that many small businesses are focused on bottom-line issues such as generating sales and managing cash flowand that social networking isn't a priority.
Unfortunately, the little guys don't have that kind of time and resources to devote to social media, especially in a tough economy.
While I think it can be advantageous for small businesses to tap into social networking, I also realize that it's better for them to take time to figure it out and develop a strategy before taking the plunge.
Since launching my website and blog last week, I feel as though I've officially arrived as an independent journalist/freelance writer. I’ve even picked up my first freelance assignment, which could lead to a long-term, free lance contract.
The entrepreneurial side of me likes the idea of hanging out my own shingle and putting into practice some of the things I've learned from years of writing about entrepreneurs and small businesses. But the practical side of me worries about being broke.
For those of you who aren't aware, I took a voluntary buyout from the Milwaukee Journal Sentinel in July after 19 years as a reporter and columnist.
To tell the truth, I'm a little nervous about my ability to bring in enough money as a freelancer to help pay my family’s bills. It's a big adjustment when you've been accustomed to a nice, steady paycheck for most of your working, adult life. Fortunately my husband is a bank executive who makes a good salary and has health insurance. Millions of people who freelance aren’t as fortunate.
Since venturing out here on my own, I'm finding that life as a freelancer is a tough hustle. Let me tell you, “It’s hard out here for a Freelancing Sister.”
While this is the economy for freelance workers as more employers are tapping such workers to avoid the costs associated with hiring permanent staff, the pay can be sporadic, which means you literally have to string together jobs to make any real money.
“It’s having an array of diverse projects that you regularly bill for. That’s where networking comes in. That’s were a lot of self-discipline comes in, having a savings,” says Jenn Turner, director of Milwaukee’s Bucketworks, which provides a supportive and connecting environment for freelancers from the art, theatre, dance, business technology and leadership communities.
“Let’s say you get one big payout from one big job, some freelancers will go and buy an investment plan so that they have dividends coming in.”
There are people out there who are finding success in the freelance market. One of them is Lydia Dishman, a freelancewriter/blogger from South Carolina, who happens to be one of my Twitter pals.
She contends that freelancers shouldn't put up with “penny-ante” pay and should charge every dime of what they're worth, factoring in the time they spend working on a piece or a project.
Read more about Lydia's thoughts on negotiating the freelance economy on her blog,"The Other F Word, which stands for freelance, BTW: http://lbdcommunications.blogspot.com/2009/05/on-negotiating-freelance-economy.html
There's a natural inclination to want to charge less as a new freelancer because of self-doubt and lack knowledge and experience, Jenn, of Bucketworks, explains.
“It’s intimidating asking people for what you think you’re worth,” she said.
That’s why both Lydia and Jenn urge freelancers to give a lot of thought to what fees they intend to charge.
Navigating the freelance landscape and figuring out how you’re going to make money is no easy feat. Thank goodness there are pros out there like Lydia and Jenn who are willing to share their advice.
How about those of you who are established freelancers? What tips and advice can you offer on how to become a successful freelance entrepreneur? I’d love to hear your thoughts. Right now, I sure could use some guidance.