Not too many years ago, may be five or six years now, I remember photographer Chris Becker (the Becker) talking about all the benefits of blogging. I remember thinking, hmmm... sounds interesting but more like a fringe thing to me. Well, within a year everyone had a blog and anyone who didn't was missing out.

These days, I get the same feeling about Groupon. I suspect that the current trickle of photographers who are using it may soon become a flood. But as with any new technology, it's easy to make painful and expensive mistakes. For this Business Coach, I'm drawing on the experience of those who've been there to hopefully save you hassle and help put money in your pocket.

For those not familiar with Groupon, it's a website where businesses offer a screaming deal to local customers for a short period of time. For example, a fancy restaurant may offer a $100 dinner for $30. Although the restaurant may lose money with each customer, because many Groupon deals are often purchased by 1,000 customers or more, it's a great marketing opportunity for the business.

This marketing does not come cheap; Groupon takes half of the money collected and then disburses the business's share over a period of a couple of months. Cash flow can take a hit as you ramp up to meet demand without having the cash in hand to pay for it. Not to mention the fact that you may be losing money with each purchase.

Of course, the hope is that the customers who do come in will spend much more than the original coupon. From all reports, many do just that. However, depending on how you structure your deal, there's a good chance that you'll get no additional sales, you'll attract the wrong clients, and you'll work your business into an early grave. So tread carefully!

Now that we've got the basics out of the way, lets talk about making Groupon work for you. Here's John Mireles' Rules for Groupon Success:

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