23 Jul 11 1:28 am
Affiliate marketing isn't a waste of money if done right for a small business. The thing is though, it all depends on what type of small business we're talking about. Do they have their own product line (or lines), are they based online of offline? Do they advertise or sell? There are so many more questions.
The reason it matters is because if they revenue source is strong enough, all that's needed to fix the finances (according to your article) is just some practical saving advice. Cut expenses and liabilities. That's it. This can nearly always be done to a certain extent. And since the revenue source is strong enough, no extra income is needed so you wouldn't need affiliate marketing.
On the other hand if the revenue source is low because the particular market is in a downer at the moment or something. Still see if costs can be cut (obviously is less is being produced/sold), you can make a cut on storage and production costs. But what I think would be more suitable for a small business, especially a local one, is to NOT branch off into affiliate marketing unless its relevent the same niche they're in. Better yet, see if they can start up another similiar product line? Or do some sort of extra sales/services.
Eg. Say we're talking about a guy called John who's a masseur and he has his own store. Lately things have been down for him, so he started cutting costs where he could. Now to create some more income, because he's already got his speciality (and hopefully a list of clients too as a bonus, because he definitely should be recording them), he can do things like offer discounts just to get business coming in again. If he wanted extra income sources and people entered his stores, he could sell massage oils or something. He can do things like that on the side. He could go to local markets and sell massage oils. He could go to big companies and offer his services as a masseur to workers (some big companies do this once per week where they have professional massage services coming in to look after their employees - I also know at big poker tournaments they do this as well, so he could even speak to a big casino in the area). I'm just spewing these ideas straight out of my head, but they can increase income, without having to opt for something like affiliate marketing in random niches, and not even being at an extra cost (just more effort going OUT to get people, rather than hoping they come in). Once you hook them in once, they'll be back if you did well.
If he really wanted to do affiliate marketing, then he's best off to make a site on what he specilises in, because by sticking in this circle of speciliaty, he can always cross promote and build his main business at the local shop.
Just my two cents...