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Tuesday, September 20, 2011

Google+'s Business Potential

Google+ has recently opened its website to everyone, dropping the invite only field trial, as reported on September 20 by Brian Womack of Business Week. Previously, Google has been known as a popular search engine. It began adding more features to its repertoire, becoming a one-stop-shop for people to search websites, images, news articles, blogs, and have access to email, share word documents, link to their YouTube account, and now social media.

According to John D. Sutter, CNN columnist, "Google Plus gained an estimated 25 million users by early August." These figures pale in comparison to Facebook and Twitters fan base, but Google+ has just begun releasing apps that separate it from other social media sites. Their newest release is called Hangouts, where groups of 2-9 people can gather and watch each other, hold a conversation, or watch a YouTube video together. There is also the option to record the session.

I believe this feature is an innovation to the world of entertainment. It extends the role of YouTube much further, creating a live "Internet Television" broadcast system. Not only can people watch your pre-recorded material on YouTube, but now they can watch you live. By incorporating a voting and commenting system, you can take your act real-time and gain valuable feedback and criticisms to improve your material.

Google+ is also working on incorporating features "showing friends what's on a users computer screen, such as photos or lesson plans; sharing drawings on a digital sketchpad; and incorporating Google Docs, including word processing documents" (Womack, 2011). By providing these features, the door is not only open to the world of entertainment, but the world of business as well.

As an entertainment business student about to graduate, Google+ is opening the door for myself and others to use social media in a whole new way. It will improve how long distance business meetings will take place by providing real-time sharing and face-to-face interaction so that nobody will have to miss important information. By linking computer-to-computer sharing or Google Docs, others in the meeting can keep up with the presenter, see and hear what they are seeing and hearing, when it should be seen and heard.

Hangouts, on the other hand, provide a unique opportunity for artist to fan interaction. The transparency factor proves more real, bringing the fans into the artists world through the live broadcast. This is a perfect opportunity for people working in the realm of promotions. If the hangouts are opened up to a large enough audience, fans can see their favorite performer make a special announcement, or a select number of winners can see their favorite artist perform a closed show from his/her home. It can create transparency as much as selectivity. Since Google+ has circles, artists can group their fans into regions so they can deliver special messages to a targeted audience, rather than as a broad message across a fan page or group.

These tactics prove more efficient for business professionals because it brings prospect of supply and demand all in one central meeting place. It bridges distance, making people feel closer, yet can block out unnecessary audiences if the timing is not right. Since people can add you and you do not need to add them, you can feel out what type of person they are before adding or block messages from them. This proves to be a more efficient way of targeting your desired audience.

Thursday, September 8, 2011

Finding Financing For Your Start-up

There are many ways to find financing for a start-up business offline as well as online. Before an investor will offer money, there are important tips an eager business owner should follow in order to obtain money.

One website that will provide desired financing is the Opportunity Finance Network (www.opportunity finance.net). This company is focused on linking CDFI's to finance low-income people living in urban, rural, and Native communities in order to help them "join the mainstream." The type of financing that is described on the website focuses on "loans and investments that range from $100,000 to $3 million, in terms lasting from 3 to 10 years." In order to qualify for financing, a person must fall into a category of low-income or low-wealth in an urban, rural, or Native community. Opportunity Network is striving not only toward lending, but also toward knowledge sharing through conferences, relevant industry information, and availability to donate.

Other websites, like Associantion for Enterprise Opportunity (www.aeoworks.com), focus on microenterprise. They encourage entrepreneurship through new initiatives. AEO focus on Voice, Catalyst Initiative, Capacity Building in the Southeast, and Green Economy. Voice refers to AEO's effort for awareness, interest, and impact of it's members and small entrepreneurs. Their Catalyst Initiative is geared toward spurring growth of micro enterprises in the US. The Capacity Building in the Southeast is aimed at pushing effectiveness and efficiency at the state and national levels regarding advocacy and operations. Lastly Green Economy identifies planet friendly opportunities. New entrepreneurs can find financing by linking up with micro enterprise organizations and being mentored through the process of developing a business plan and the necessary information needed to create the big picture of a start-up. Through AEO and their partners, members (after paying $250) are included in a network of small business owners with acess to help in order to grow and prosper. AEO provides relevant industry information, with goals of helping their members reach financial stability.

These are two of many websites aimed toward small business financing and support. Getting help through other corporations or even learning the process in school will help entrepreneurs become successful business owners.