THE GOLDEN RULE: New Age Business Tools

SHARE   |   Monday, 11 May 2015   |   By Nelson Letshwene
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Starting a business today is not like in the past. With youth unemployment so high, it is important that the youth use tools that are available to them to start new businesses. In the old system, the four Ps of marketing were impossible to avoid; these being Product, Price, Promotion, and Place.
Place has literally been made void by the advent of the internet and new apps which allow you to sell your products literally from anywhere in the world. Jeff Bezos of Amazon demonstrated that when he moved his warehouse as far away from metropolitan areas as possible, and became the leading bookseller by using new age business tools.
Price has also been transformed by systems like e-bay, olx in South Africa, bid-or-buy,  and other auction sites that literally allow customers to set their own prices. Old style in store promotions have been replaced by new technology promotion systems on line.
The only thing that remains from the 4P matrix is product and service, even though some products such as books have also been digitised and can travel wirelessly.
One of the major obstacles to starting a business is funding. This is being overtaken by a new system called Crowd Funding. There are several sites now where an entrepreneur can source funding through crowdfunding. Most young people have thousands of Facebook friends and twitter followers. These can easily be invited to your crowdfunding platform, and if they each contributed say $5 to your initiative and you gave them some digital product or benefit in return, the age of looking for funding could be over. Crowdfunding allows an entrepreneur to raise funds without giving up equity or amassing debt. When facing the prospects of your loan application being rejected by banks and other financial institutions, you can turn to crowdfunding. It is necessarily an easy platform, but with dedication and learning how it works, you can raise your funds that way.
Just like all things, including some that I will suggest in this article below, it is vitally important that you take your time to study a system, and figure out how it can benefit you and your business.
The fact is we don’t have to be stuck with old systems. I know this because I managed to self-publish three of my books on CreateSpace and make them immediately available on the amazon.com platform as well as on the Kindle platform. This system has allowed me to skip the old publishing systems. There are many other tools that entrepreneurs should use and I suggest some here below.
The requirement for computing and storage can be overcome with apps like Dropbox and Evernote, which can be accessed from any computer wherever you are.
It is clear that Facebook, Twitter, You Tube, Pinterest, Instagram, etc have taken over the promotion aspect in business if they are used properly beyond personal status updates. Another app that is useful to entrepreneurs is Mail-Chimp, which allows you to send professional emails without cc-ing and exposing your client’s email addresses to being harvested by spammers.
If your business is still in the boot of your car, you don’t need to be carrying a credit card machine. Square is a minuscule credit card reader that attaches to your smartphone, and you don’t have to miss sales because your clients don’t carry cash. You register for this on squareup.com. This is the direction where business is going.
For those who think they need to have a website, sites like Worpress.com make it easy to blog and use your blog as your main website. Anyone can use it without the need to know programming. This can also be linked to all your social media accounts like Facebook, LinkedIn, etc.
The age of change has come and no one has to be stuck with old systems anymore. Explore, examine, interrogate, engage.
To your success! Follow the blog on www.thegoldenruleblog.wordpress.com or follow me on twitter @101silverline



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