Understanding your competitors and monitoring their activity is key to your success.

In fact, I often point out that if you have no competitors, you may not have a market. Meaning that if you are planning to launch a new product or service, a lack of competitors might mean that no demand exists for your product/service.

Oftentimes for new offerings, your competitors are “indirect competitors,” meaning that they fulfill the customer’s needs with a different type of product or service offering. Conversely, direct competitors are those who fulfill the same need with a similar type of product or service offering.

Regardless of whether your core competitors are direct or indirect, you should always keep an eye on what they are doing. Mainly, so you can learn from them. If your competitors are able to acquire customers more inexpensively than you, you have a problem. Likewise, if competitors are able to generate more customer lifetime value than you, you will be at a distinct competitive disadvantage.

In this regard, there are three free tools I want you to know about.

The first is ChangeDetection.com (http://www.changedetection.com/).  ChangeDetection.com provides page change monitoring and notification services. It really couldn’t be simpler. You simply type in your competitor’s website addresses, and whenever it changes one of its web pages, you are immediately notified via email. Pretty cool. If one of your competitors changes its prices, or adds a new product or service, or decides to test new text to promote its benefits, etc., you are immediately notified.

The second cool tool is KeywordSpy.com (http://www.keywordspy.com/). KeywordSpy allows you to see how your competitors are marketing themselves online. Among other things, you can see the keywords that your competitors are advertising on, their estimate ad budgets, and what keywords they rank organically on. This analysis allows you to identify where your competitors are getting their best online traffic, so you can replicate it.

The final tool I want you to know about today is Compete.com (www.compete.com). There are two features of Compete.com that I really like. The first is that, using their “Compare Sites” tab, you can compare the traffic of up to 3 websites for a period of up to 2 years.

Using the “Site Profile” tab, you can see online traffic details of individual sites. Within the premium features of Site Profiling, you can see the demographic profile of site visitors and the sites that refer the most traffic to them.

This is really cool. To begin, knowing the demographic profile of your competitor’s customers could dramatically help in your marketing efforts. Secondly, if you know the sites which refer the most traffic to your competitors, you can contact them and try to get links to your website included there too, so you can “steal” some of this traffic.

Really understanding your competitors and leveraging this understanding will improve your marketing and operations. Similarly, in your business plan, showing a comprehensive understanding of your direct and indirect competitors positions you as an expert in your market, which is very appealing to investors and lenders.

By now most of you have seen Avatar.  The movie tells the story of a wounded ex-marine, thrust into an effort to settle and exploit an exotic planet rich in bio-diversity, who eventually crosses over to lead the indigenous race in a battle for survival.  Avatar is more than impressively entertaining, it is technical breakthrough.  The film has grossed and impressive $2,719,365,137 world wide so far.

An avatar is a digital, simulated representation of a person.  There are companies, like Second Life, where users can socialize, connect and create 3D virtual worlds.  In these simulated realities, one’s avatar can attend a trade show, keep up with technology, show off a new product and network with a very global reach.

The WSJ has published an interesting article on how entrepreneurs are beginning to do business by Avatar.

Full story at WSJ.

A strategically created and managed LinkedIn account can further your company’s credibility and visibility by increasing your website traffic, leads, and sales.  Linkedin is a valuable network of about 45 million experienced professionals.  All 500 of the Fortune 500 are represented in LinkedIn.  In fact, most of them are represented by director-level and above employees.

I’ve included a short video on how to take advantage of Linkedin networks.  In addition, here are several ways to grow your business with Linkedin:

- Build an online reputation
- Enhance your search engine results
- Meet key contacts in your field
- Locate funding
- Ask for advice
- Get business and sell products
- Promote professional identity
- Find online communities that align with your professional interests

There are a lot of great websites out there to assist entrepreneurs with their businesses.  I’ve provided a list of 20 great sites that you will find helpfull regardless of the phase your business is in.

Adweek Online
www.adweek.com
Adweek Online features the inside scoop on what’s going on in the marketing departments of high-profile companies and corporations.

Backpack
www.backpackit.com
Backpack is a web-based service that will make organizing your company’s information easy. Backpack allows you to make pages that can contain any combination of notes, to-dos, images, files and so on.

Business Owner’s Tool Kit
www.toolkit.com
Toolkit.com ephasizes problem solving.  This site features more than 5,000 pages of free cost-cutting tips, step-by-step checklists, real-life case studies, startup advice, and business templates to small-business owners and entrepreneurs.

Business Owners Idea Cafe
www.businessownersideacafe.com
Business Owners Idea Cafe includes numerous award-winning resources, along with practical advice, business news and humor.

Brandweek
www.brandweek.com
A leading source of news and information for the branding industry, it’s also the only online trade magazine to offer saturation coverage at all levels of the brand-activation process.

CPAdirectory
www.cpadirectory.com
CPAdirectory is billed as “the largest online database of Certified Public Accountants,” here you can search for CPAs by ZIP code, name, industry or area of specialty.

Customer Service Manager
www.customerservicemanager.com
If customer service is parmount in your business this site is for you. Here you will find an active community of customer service professionals, along with daily news, reviews, articles and resources aimed at improving customer service.

Entrepreneur.com
www.entrepreneur.com
This is an excellent site for entrepreneurs, featuring a solid collection of articles and tips from experts, plus hundreds of links to other entrepreneurial resources on the web.

Fambiz.com
www.fambiz.com
Fambiz.com is the internet’s leading website for owners and employees of family controlled companies. Managed by Northeastern University’s Center for Family Business, here you will find insight on every family run business topic imaginable.

Fundability
www.fundability.com
Fundability is a marketplace where entrepreneurs and investors can find funding success. Founded by entrepreneurs and investors, Fundability’s Company SnapShot, Deal Search Engine, and DiligenceRoom provide intelligent online tools for the savvy entrepreneur.

Google Checkout
www.googlecheckout.com
This online payment system works alone or as an alternative to systems already in place. Customers don’t have to share credit card information with merchants that use the system, and identity protection is increased.

Google Docs
www.google.com/docs
The folks at Google deliver a free web-based word processor and spreadsheet, which allow you to share and collaborate online. Google Docs accepts most popular file formats, including DOC, XLS, ODT, ODS, RTF, CSV, PPT, and more.

Hoover’s
www.hoovers.com
Hoover’s gives you access to up-to-date information about industries, companies and key decision makers. Great for professionals working in sales, marketing, business development, and others who need intelligence on U.S. and global companies, industries, and the people who lead them.

Internal Revenue Service
www.irs.gov
Business owners can get all of their federal and business tax information–not to mention forms–directly from the source. It’s also a good place to stay current on tax laws that affect business owners.

Mint
www.mint.com
Entrepreneurs can get help with the personal finances, money management and budget planning. In addition, Mint offers free financial planning software.

PayPal
www.paypal.com
Perhaps the best-known payment system, PayPal allows web sites to receive and send money electronically. Business owners and customers find PayPal easy to use–and secure.

Salesforce.com
www.salesforce.com
Easy-to-use web-based customer relation management tools for your entire company, including online solutions for sales, service, marketing, and call center operations.

Small Business Administration
www.sba.gov
Here you can learn how to start your own business and finance it. The site also provides information on business opportunities, local SBA offices, laws and regulations, and much more.

Survey Monkey
www.surveymonkey.com
Put your finger on the pulse of your customers with this free basic service. Create and publish custom online surveys to gather data you can use.

VentureDeal
www.venturedeal.com
Easy-to-use database with the latest information on U.S.-based venture-backed technology companies, senior management, company financings, and M&A transactions. Updated daily, this site offers a convenient way of accessing critical information related to business development, funding searches and venture capital investment goals.

A 7.0 magnitude earthquake struck near the Haitian capital of Port-au-Prince on January 12th. World Vision is already on the ground in Haiti assessing the damage and ready to respond with emergency supplies.

Here is how you can help. Visit World Vision and make a donation – this takes no time at all.

Your generous gift today will help provide emergency food and family survival kits, which contain things like:

* Emergency food
* Blankets
* Water cans and water purification tablets
* Cooking supplies
* Plastic sheeting for shelter
* Mosquito netting
* And more!

Donations will also provide for the long-term needs of children and families, rebuilding communities and restoring hope.

This past Tuesday, Warren Buffett and Goldman Sachs announced that they were donating $500 million to assist 10,000 small businesses in the U.S.

To begin, this is pretty cool. Any money invested in small businesses is sure to lead to more jobs and an improved economy. And even better when this money is not coming from taxpayer dollars.

However, what I found most interesting was where Buffet decided to invest the $500 million. I say “Buffett” and not Goldman Sachs, since Buffett’s Berkshire Hathaway Inc. is the largest shareholder in Goldman Sachs, giving me the impression that he was calling the shots on this one.

According to Bloomberg.com, the moneys will be allocated as follows: “$200 million to local community colleges, universities and other institutions to provide small-business owners with practical business education…. $300 million through a combination of lending and philanthropic support to community development financial institutions.”

$200 million to “practical business education” – that’s what rang out the loudest to me. As one of the greatest investors ever, Buffett knows first hand that entrepreneurs that succeed are the ones who have the right business education and training.

Successful entrepreneurs realize that they themselves are one of their organization’s greatest assets. As such, they constantly invest in themselves by taking courses, reading books, and upgrading all of their key skills.

Regarding the other $300 million, it is being provided to community development financial institutions (CDFIs). CDFIs generally provide financing and related services to individuals and small businesses in struggling or underserved communities. If you have or would like to start a business in one of these communities, go to CFDI Coalition website to find a list of certified CFDIs.

Written by Kim Castle | BrandU.com

You’re a conscious entrepreneur. You’re aware. You’re smart.

You’ve spent your life learning something, developing a real expertise. You’re good at it.

You have that white-hot burning desire that Napoleon Hill writes in Think and Grow Rich. You have a yearning to do good and change peoples lives. But nothing’s happening.

You’ve gone to the tele-seminars. You’ve studied the marketing. You did what “they” told you to do.

You’ve made a product. You’ve got a web site. You’ve gambled on Google Adwords and watched your account drain faster than a roulette table. And…not much to show for it.

So you…read all “the books.” You listen to all “the programs.”  You watch The Secret 157 times — so much that you could write your own book on the Law of Attraction.  And still… you’re not experiencing the joy and the financial success you want from the business you dream about.

It’s not your fault.

Take comfort…you’re not alone.  Entrepreneurs around the world are all in the same position as you. Feeling the same overwhelm of information, of their own ideas, of unfulfilled possibility. There’s just too much information today to do anything with it.

We live in an unprecedented age where the business playing field is completely leveled. Businesses large and small have access to the same information, the same distribution, and the same customers. In fact smaller businesses have the advantage. A smaller footprint means you can run faster.

But instead of thriving today, most entrepreneurs feel trapped in their own business and are sadly barely surviving. In fact, less than 44% of the one million businesses started in the U.S. ever survive to year four.

To make sure you are reliably able to leverage your knowledge, your skill, your expertise and your desire, and stay out of the 66% crash and burn pile, here are five reasons you may be going nowhere fast in your business and what you can do about it.

1. Information Overwhelm—Emphasis today is on sharing and leveraging knowledge.  It’s no wonder that information is raining down on you. Without a way to categorize the information and determine it’s it right for you at the right time, it’ll all seem great AND you will not be able to put it to great use in your business.

2.  Ideas Galore—With information at your fingertips comes unlimited possibilities.  There’s so much you can do now. So naturally you’ve got ideas left and right. Without a solid structure and some way to put your business ideas into context, all your ideas start taking on the behavior of a hungry child, “pick me, feed me.”

3. Baby Steps Lead to Baby Steps—With so much information, the easiest way to break through the noise and sell faster and harder is a term we call “the silver bullet”— the small steps that promise to solve everything.  After buying into one too many silver bullets, you realize they don’t take you where you want to go—long-term success.  As a result, you end up feeling frustrated and skeptical.  Without taking big steps for your big picture, you’ll stay right where you’re at—and before you know it, you’re going backwards.

4. Destination Unknown—With all this information there’s a lot of shifting unknown. This makes it hard to know where you’re going specifically in your business.  Today most entrepreneurs say, “I want financial freedom,” or “I want what that person has.”  Without picking a specific point that represents the success you want, you’ll never be able to get there and all you’ll have is the perpetual feeling that you’re not there.

5.    Jumping the Gun—The side affect of all this possibility is the misleading act of rushing to market before an entrepreneur has created a solid business.  A product or a website does not make a business. It is one thing that will always cause you to search for the next thing.  Delivering a service does not make a business.  It creates a job.  One that will keep you looking for the next customer. Both eventually become exhausting and eventually you run out of steam and burn out.

Take a breath. All is not hopeless. These mistakes and many others are easy to fix if you know the eight stages that a business must go through to reach reliable long-lasting success.

Just knowing these stages makes it easy to decipher the right information at the right time, put your ideas in perfect order, give you the ability to take bigger steps, define where you’re going, and know where you’re at right now.

You can create that business of your dreams confidently and reliably simply by taking the time to create a real business, then you can make the real money and make a real difference in the world.

So, stop the spin you’re in and learn these eights stages now.

World Vision

Give a goat. Goats nourish hungry children and families with healthy milk, cheese, and yogurt. Goats also give a much-needed income boost by providing offspring and extra dairy products for sale at the market.

A healthy dairy goat can give up to 16 cups of milk a day. Goat milk is easier to digest than cow’s milk and is an excellent source of calcium, protein, and other essential nutrients that growing children need. Goats are practical animals — flourishing in harsh climates while producing valuable manure to fertilize crops and vegetable gardens.

Teopista, an AIDS orphan and World Vision-sponsored child in Uganda, is proud of her first gift ever — two donated goats that will help provide her with a brighter future. “I was very happy when I got the goats,” says the 10-year-old. “They will be of use to us. We will get money from them. I thank World Vision for thinking about me, too.”

Written by Dave Lavinsky | Growththink.com

I got home for work the other day and sat down with my family for dinner.

“How was your day?” I asked my kids. My kids proceeded to tell me about how their days went. Everything seemed like it was going well.

So, I asked my son, “Did you get to practice lacrosse today?” As a bit of background, my son plays on a highly competitive lacrosse team, and if he doesn’t practice enough, he risks losing his position.

“No dad. I didn’t have time,” he replied.

Now this, unfortunately, is NOT an acceptable answer. In fact, according to Napoleon Hill, author of the famed book, “Think And Grow Rich,” what my son gave me was an alibi (or excuse) for not succeeding.

In his final chapter, Hill listed 57 alibis for not succeeding. The list started with the following:

• IF I didn’t have a wife and family . . .
• IF I had enough “pull” . . .
• IF I had money . . .
• IF I had a good education . . .
• IF I could get a job . . .
• IF I had good health . . .
• IF I only had time . . .
• IF times were better . . .
• IF other people understood me . . .
• IF conditions around me were only different . . .
• IF I could live my life over again . . .
• IF I did not fear what “THEY” would say . . .
• IF I had been given a chance . . .
• IF I now had a chance . . .
• IF other people didn’t “have it in for me” . . .
• IF nothing happens to stop me . . .
• IF I were only younger . . .
• IF I could only do what I want . . .
• IF I had been born rich . . .

Since I had just finished listening to the book (I constantly listen to books on tape while driving), the alibi “IF I only had time” was fresh in my head.

So, the correct thing to say to my son would have been, “You didn’t have time. That’s not an excuse. If  you really want to succeed at lacrosse, you would have made time.”

But, I didn’t say that for one simple reason. And that reason is that my son is just nine years old. He doesn’t need that type of aggressive coaching, yet.

But you, each of you reading this today, to you, I will stand by giving you a hard time for making any of these alibis. And as importantly, I hold myself accountable for every time I say I don’t have time or “if” this or “if” that.

These “ifs” are unacceptable. If each of us are going to achieve our true potential as entrepreneurs, we need to remove these alibis. We need to envision success, and create business and action plans to achieve it. And we must not stop there. Because our original business and action plans most like will NOT succeed.

Rather, we need to keep assessing our progress and modifying our plans until we achieve success. And never ever, along the way, can we get caught up in alibis. Since these alibis will kill our positive energy. They will take us down the wrong paths. And they will prevent us from achieving our goals.

For my son, I’ll give him five more years until I get tougher on him and teach him to stop making alibis. For you and me, let’s put our alibis behind us. And focus our energies on achieving massive success. And then, making sure the people we know and love also do the same.