The single biggest opportunity for entrepreneurial businesses in your lifetime

The new Fab Four – Amazon, Apple, Facebook and Google – have changed the world for the better, especially for entrepreneurial businesses. From being able to find exactly the product you want without having to leave your armchair, being able to tap into enormous communication power from a device in your pocket, to accessing the whole world’s knowledge and intellect, and being able to link with over 2 billion far flung people.

Never have the opportunities been so great. If Facebook was a country it would have the biggest population on the planet – and you can reach them all.

And yet regulators, particularly in Brussels, seem determined to control how we use the internet to learn, interact, reach customers, shop and travel. If you have been persuaded by politicians and the media that that Fab Four are evil, don’t pay their taxes and are out to control you, think again.

Regulators are the enemy of hard working entrepreneurial business owners. I cannot remember a time when they have put up so many barriers to prevent the technological advances of the past 10 years from being used to create wealth, increase productivity and offer opportunity to a generation that is struggling to build assets.

Now if you are thinking: ‘What’s he on about, Facebook is just for sharing photographs of my kids with friends and family’, you are missing the point.

Facebook is, in fact, the single biggest opportunity for entrepreneurial businesses in your lifetime. And what’s more you can access most of its power for free.

Take a second and think about that. You can put your business, product or service in front of 2 billion people virtually for free. Their reach is enormous. But so is their data analysis, which will only get smarter. Information is power and one of the biggest businesses in the world wants to share – for free – the information they collect, and reward you with even greater reach and reporting capability if you do so.

Unimaginable as little as ten years ago. Overlooked by most people. Incredible.​

​Here is just some of what is on their ‘all you can eat buffet’:

  • Business pages for each of your brands, products or services (who needs a website!)
  • Closed and secret groups for your clients and VIP members (for which you can charge admission)
  • A messenger service which you can enhance with bots to automate interactions with your clients and send them content and news
  • Live streaming of your workshops, seminars and Q&As
  • A powerful advertising platform which you can use to target your exact client avatar
  • Somewhere to post a video of your cat (I made that up, no one would do that!)

No wonder the regulators want to control and constrain them. Power has shifted. Anyone with a computer and a broadband connection can now use the opportunity offered by the internet and Facebook to create a digital business and access customers anywhere in the world. If you are working way too hard for mediocre results then creating a digital version of your product or service and tapping into the power of Facebook is a must.​​​​​

Noel Guilford, Principal at Guilford Accounting
Noel Guilford is the principal of Guilford Accounting a small business accountancy practice specialising in advising owner-managed businesses on current accounting, finance, and tax matters. You can reach him via email at noel@guilfordaccounting.co.uk or by phone at 01244 660866. He is the author of the 'Figure it out - an entrepreneurs guide to understanding your business numbers' which you can obtain by visiting guilfordaccounting.co.uk.​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​ His latest book, How to Build a Successful Business' will be published in 2018.

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