Bankruptcy Attorneys. Good Business For This Economy?

I was meeting a client for lunch last week with another business associate. The client had just finished a meeting next to the restaurant with one of her clients, a bankruptcy attorney. My associate noted that they must be very busy these days, and what a good business for this economy.

From the outside looking in, that statement might make a great deal of sense.  And this is the surface logic that many small business owners can use to get into a new business. Not that becoming a bankruptcy attorney is a great start up, but that lot’s of people look at a business from the out side in, rather than the inside out to determine if it’s a good idea to pursue.

The truth is bankruptcy attorneys have been busy, but because of the high volume of work, and lot’s of law firms getting involved in bankruptcy because their core business fell off, it’s highly competitive and extremely cost sensitive.  Those are not good traits of a new business opportunity.

Most law firms that are doing well, offer a portfolio of legal services. This allows them to service a much broader cliental in areas that are more relationship driven, and less transactional. A good example is our Internet Marketing client, a Grand Junction law firm, LaCroix and Hand P.C.  Instead of focusing on one area of law, they offer services from Business law to DUI representation, and bankruptcy.

For a different industry like a restaurant, this may mean offering new items to attract new customers, adding a breakfast menu to a restaurant that traditional serves just lunch and dinner can bring in new revenue and customers. And that customer can then come back for lunch and dinner as well. Its very relationship driven and multi transactional.  And that’s one of the keys to a solid business idea.

Look at some of the greatest business success stories over the last 15 years. E Bay, Facebook, Google, Sport’s Authority. They are all relationship driven and multi transactional.

So when you are dreaming of your new business, and dreaming is were it all starts, do spend some time asking and researching to determine if it will be relationship driven (returning customers)  and multi revenue stream

Related articles

• Make Yourself Indispensible to Your Clients (sellinginnovation.wordpress.com)

Listed on: <a href=”http://www.dmegs.com”>link directory</a>

Winning Business awards

A long time client and friend, Matt Shoup has just published a book, “Become an award winning company”. It was number 1 on Amazon for marketing and P.R. books for good reason.

Matt takes you through his 7 steps to winning awards, which he has become an expert at. Most businesses want to win awards, but few have the know how.  Matt also takes you through his journey as a young entrepreneur, starting his painting company on a show string, and growing it to over 2 million dollars in revenues in a few years.

A large part of his success is his ability to generate valuable P.R. for his company, M and E Painting through his process of applying for and winning awards.  In his book, available here  http://www.amazon.com/Become-Award-Winning-Company-Entrepreneur/dp/0983811709

Winning awards does so many great things for your business. It can increase your conversion on sales, it can increase your number of leads, it will help you recruit better employees, and it will even help your web site ranking.

Do yourself and a friend a favor, buy this book and implement the 7 steps.

Start up companies in Colorado

Start up companies in Colorado.

Several new start up ideas taking form in Colorado you may want to keep an eye on.

Meta Social Web, is a new concept for business owners who need to promote both their social media and their web sites. The concept is to form a community of local business owners who can support each others Internet presence through viewing the businesses Social media pages. They can then choose to “like”  their facebook page, follow them on twitter, add them on linked in, and even give them a review on a search engine, all from one page.

In addition to that, once they have viewed another members sites they can email them and let them now they did,  and ask that they do the same for their business. There are no requirements to like, follow, or what ever. It only gives business owners the opportunity to be more visable, and pick up real followers in their area.

An interesting feature is that as a member you will be able to add a special offer, which other members can tweet, or share on Twitter or Face book.  I can imagine the value of 10 to 50 companies or company owners doing that for a business.  This feature is part of there upcoming 1.1 relaease due out next week.

There are lots of on line services that will add followers and likes and such. The challenge is most of them add low to no value followers.  This services promises to deliver the local businesses and business owners who are actually interested in your services.  You can see more at meta Social Web

I was invited in as a partner, and have accepted, as I like the concept so much.

Do you have a start up in Colorado you would like us to look at?  Just email me, or leave a comment.

Networking Groups in Colorado

The question is,  is it worth the time to join a “networking” group to promote your business?

There are many different type groups to join in Colorado. Meetup.com has 100′s just in in the Denver area.  Then you have the Pay to join groups like BNI  and the Chambers that often have their own internal “leads” groups.

We would like to hear your experiences in these groups. Which groups really work, and how to make the most out of joining a networking group in Colorado.

Bussiness in Colorado Blog

Image via Wikipedia

The business in Colorado blog will be covering issues and events that direct effect Colorado businesses.

We might cover tax issues, government issues, marketing programs, hire and H.R.  Just about anything goes as long as it relates to owning, or managing a business.

Recently we were interested in a Colorado government hearing to determine if they State of Colorado should regulate, or license Roofing companions. Seems like a no brainier to me. Every year we hear the reports of home owners being victimized by out of state roofing companies after a big storm.

One individual asked to testify in favor of the measure was Jerry Hughes of Stellar Roofing and Solar in Denver.  Stellar is a BBB member and about as certified as a roofing company can get.  If credible local business owners are asking for some registration for their industry, shouldn’t we be listening?

When you read the Better Business Bureau web site, and listen to the news, you just have to wonder why this has not been done years ago. It’s like gas prices, people scream and politicians react when the prices get high, but once they go down, we all forget about it.

Registration for Roofing companies just makes sense.

<a href=”http://www.hypersmash.com”>Hypersmash</a>

Hello world!

Welcome to WordPress.com. After you read this, you should delete and write your own post, with a new title above. Or hit Add New on the left (of the admin dashboard) to start a fresh post.

Here are some suggestions for your first post.

1. You can find new ideas for what to blog about by reading the Daily Post.
2. Add PressThis to your browser. It creates a new blog post for you about any interesting  page you read on the web.
3. Make some changes to this page, and then hit preview on the right. You can alway preview any post or edit you before you share it to the world.