Buy Local Sells – Even Online
CNN recently reported that small businesses around the country are looking to their local communities for more than just their patronage–they’re looking for “shareholder” type support for the long-term and it is paying off.
A restaurant owner in Hudson, N.Y. severely hit by the credit crunch during renovations of his establishment was literally saved by his local patrons. He came up with incentive “VIP dollars” package which patrons bought into in droves.
He was able to raise $25,000 in six months and finish his restaurant’s renovations. The bonus: his VIP customers patronized his establishment in healthy numbers in order to cash in on their VIP privileges/points. You can read more about that story here.
As online business owner your virtual “community” is just as important.
Think of the process you go through to find a good graphic designer, virtual assistant, accountant, or copywriter. Among your key considerations are time, trust, and cost. You don’t want to spend a lot of time looking for service providers or vendors but you want the best person you can get within your budget.
The wise thing to do in most instances is to turn a network of trusted peers, clients and friends for recommendations. If you’re already involved with mentorship groups or have a circle of contacts you communicate regularly with on social media forums like twitter then that’s your “community.”
Don’t underestimate the role this community will play in building your business. Beyond the marketing benefit of promoting your business in social media forums, etc., the relationships you develop through conversations and the brand awareness you develop through sharing your expertise can all help to contribute to your bottom line.
You have a stake in the communities within which you network. Your next client, contract or supplier could come from this network. How are you contributing to the vibrancy of your networks and what are some of your favorite small business networks?
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