by
Eric PrattThere's been a lot of hype lately over
Social Media. Many businesses are rushing to build a
Facebook page, get a
Twitter account, and build a network on
Linkedin. While the jury may still be out on how measurable returns are and what industries have had the best success I think there is another format that can provide instant returns and metrics.
Most of you probably know
Craigslist and
Ebay.
Craigslist is very basic but highly successful internet classified site. Ebay is the top dog in online auctioneers. You may have bought or even sold personal items through Craigslist or Ebay but have you ever thought about generating
revenue and
profits for your business?
Obviously this is most relevant to companies that sell a good and carry inventory. If you have inventory you have no doubt dealt with stales or dead inventory. What if you could slowly get rid of unneeded product, increase cash flow, and invest nothing on the front end? That's what Craigslist and other sites can do.
Let me give you a real life example that you can apply your specifics to. My Dad lives in WA and owns a transmission shop,
Snohomish Transmission. Over 20-some years he has piled up a lot of car parts. Some of them very valuable, the pack rat in my Dad always saves stuff in the event he might have a use for it later. Many of his parts, especially the hard to find specialty parts, are very rare.
