Social networks, like Facebook and Multiply, can be very addictive for many people as they spend, or waste, their time interacting with friends and family online. But the application can be very productive, or profitable, for enterprising individuals and organizations.

Use Facebook, or the social network of your choice, to improve your public standing, credibility and reputation amongst your peers, colleagues, and consumer/customer base.

Here are some tips.

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For small-to-medium enterprises (SMEs), social media can supplement traditional marketing campaigns and boost products and services’ presence in the attention of targeted market segments.

Anyone or any business can create a social media account online for free, however it should not be seen as without cost. Time, manpower, promotions, contests, among other resources, needto be considered.

Here are some lessons in social media for small and medium enterprises.

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Entrepreneur and owner of 5 small businesses in Chicago, IL, USA–Jay Goltz shares 10 factors that impede the success of small business or enterprises.

Among the top reasons Mr. Goltz listed include, operational mediocrity, poor efficiencies and poor accounting.

Check out a summary of the full list:

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