Archive for the ‘Running Your Business’ Category

Breaking Even On The Front End

Writen by Robin J. Elliott

When you have a service or a product that is bought many times over, it makes sense to pay to get a new customer. For example, I showed a hair salon owner client of mine how to invite high-end potential clients for a hair free cut and blow wave. His cost was negligible; however 82% of them were so impressed with the quality of his work that they became regular customers. A Tree Surgeon may offer a free service in order to obtain long-term customers. An accountant or lawyer may offer a free initial consultation.

Combine the above with a Joint Venture and you can create the opportunity to access a large base of potential customers, especially if you have a consumable product. If your research and experience shows that most people who try your product go on to consume it on a regular basis over a period of time, why not ask JV partners to advertise your product and keep 100% of the first sale income for their trouble? Or they might want to give it away to their clients as a gesture of thanks for loyal patronage. The clients who like it can be directed to make all future purchases from you.

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Small Business Congratulates President Obama

In a moving and historical ceremony, President Barack Obama and Vice President Joe Biden took the oath of office at a time when the nation faces many challenges and uncertainties. None-the-less, President Obama’s inaugural address was hope-filled and encouraging as it reminded Americans that our nation has overcome many extraordinary challenges in the past. The Small Business & Entrepreneurship Council (SBE Council) congratulates President Obama and Vice President Biden and pledges to work with the Administration in their efforts to advance policies that leverage the national assets and strengths the President referred to in his address.

In his speech, President Obama noted our deep national assets, as well as market opportunities that continue to exist for U.S. goods and services: “We remain the most prosperous, powerful nation on Earth. Our workers are no less productive than when this crisis began. Our minds are no less inventive, our goods and services no less needed than they were last week or last month or last year. Our capacity remains undiminished.”

SBE Council President & CEO Karen Kerrigan noted that entrepreneurs are in tune with this thinking, and the President’s optimism: “Small business owners and entrepreneurs are the individuals President Obama so described in his speech – those who are the ‘risk-takers, the doers, the makers of things.’ Indeed, more than ever, our nation needs the innovative activity, the hard work and energy that small business owners bring to the economic recovery table,” commented Kerrigan.

She added, “They are and remain the ‘men and women obscure in their labor, who have carried us up along the long, rugged path towards prosperity and freedom,’ as President Obama so eloquently described in his speech.”

SBE Council is hopeful that President Obama will keep these words in mind as he considers his policy options and priorities over the next several months. Small firms are struggling, and they require policies that enable capital formation and access; health care reform initiatives that give them more choices in the marketplace while lowering costs; regulatory policies that are sensible and that do not impose new cost burdens; opportunities to access overseas markets; a workforce that is skilled and flexible; and an economic climate that supports investment, and business growth.

Karen Kerrigan
President & CEO

Small Biz Startup 2009-01-20 05:01:00


YES, WE CAN!

While Waiting At The Airport

Writen by Larry Galler

One week after the recent announcement of heightened airport security I had to take a flight. I heard about long waits going through security so I arrived at the airport two hours before my flight. Naturally, when one arrives with plenty of time, there is no one in line but if you arrive late it seems as if everyone in the world is going somewhere that day. I whisked through security and had plenty of time to sit and observe. As much as everyone likes to complain about air travel I’m always in wonder that something as complex as an airport let alone the entire air travel industry, actually works as well as it does.

So there I was, observing a microcosm of the air travel industry. A little while after I arrived, two crewmembers arrived. Little by little, other crew arrived. They introduced themselves to each other. It was apparent that none of the crew had met each other before. Yet, as I boarded the plane, I was aware of how well they worked together as a practiced, coordinated team.

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Online Degree Programs

As you are well aware of the fact that nowadays everyone wants to study in the best universities around the world. However, as they can’t afford the expenditures, so they have to kill their wishes and have to complete the studies from their own country. But now, the internet has become so vast that the word “impossible” is almost ended.

Now, due to the internet while sitting at your own home you can study whatever you want from your desired university of any country.  There are many popular universities present around the world. Some of them are offering a number of online degrees; you can easily select one of them. The most preferred programs that are selected are the “information technology management” and “cfa exam prep.”

Master in information technology management is mostly preferred by the students who have done IT students and the business professionals. Through this program, they can easily combine their managerial skills with the technical acumen to get the IT leadership role. Apart from this, the program acts as a bridge through which you can easily combine the business qualities with the IT skills and can progress a lot in your life.

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Small Town Sidewalks Big City Business

Writen by Nola Redd

At first glance, you wouldn’t think the park would have anything to do with a small business. I’d like you to take a deeper look, however.

I recently became quite perturbed regarding the lack of sidewalks on Henderson Road. I live directly across the street from the Henderson soccer fields, which backs up ? via some lovely wooded trails ? to Henderson park. On the west side, which crosses over 285, there are sidewalks. On the east side, which leads to downtown Tucker, there are not. In fact, the street leading towards Tucker not only carries a great deal of traffic but has an almost nonexistent curb.

I penned a journal entry berating the lack of accessibility to the park from the plethora of nearby neighborhoods. I ranted on the growing obesity problem in America. Only after I completed the journal entry did I realize the effect the lack of sidewalks has on Tucker small businesses.

Despite its close proximity to Atlanta, Tucker still carries that small town feeling. Local renovations will heighten that sense. And the quantity of small store fronts only adds to the feeling.

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Social Networking Resource For Small Businesses

One of the key ways for entrepreneurs and small businesses to succeed is to connect and share knowledge with others in their field. Increasingly, this is being done online using social networking websites.

RedWire is one such online community devoted solely to entrepreneurs and small businesses. It is a place to connect with other entrepreneurs for collaborative knowledge sharing, and a tool to expand your contacts and draw upon a greater pool of resources.

RedWire allows you to create a profile, list events and groups, and access content from experts in all areas of business.

You can check out the community at Redwire Nation

Five Tips For First Time Entrepreneurs

Writen by Audrey Hoffman

It seems so long ago that I started my first business. Since that time, I’ve created several successful businesses and learned a lot of lessons along the way. There are several things I wish I would have known in the early days of my entrepreneurial efforts that I hope will help some other first time entrepreneurs on their path to success.

You’ll Work Harder for Yourself than You Ever Have for a Boss

If you think owning your own business is simple or means you get to lounge around all day long, think again. While this may be an end result after a lot of hard work, it will certainly not be the beginning of your business. You will work long hours, long nights and at times you’ll feel overwhelmed at the amount of effort owning your own business can take. But, also know that owning your own business and working hard for yourself can be one of the most satisfying feelings of your life.

Don’t Confuse Setbacks with Failures

They say there is no successful business owner who hasn’t failed with at least one business before they started the one that “struck gold”. It is important that you take each failure you encounter on your path to success as an opportunity to learn something.

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Keeping A Partnership Alive And Thriving

Writen by Bette Daoust, Ph.D.

What are the best methods for keeping a good business relationship?

Once you have a business relationship in place, you need to work on that relationship to keep it intact. As a matter of fact, people nurture their business relationships more than they do their families! The first and most obvious method is to follow up with questions and requests in a timely manner. This rapid response to queries does more for the relationship than sending out regular information. Customers or business partners are really impressed with response rates.

Can you imagine asking a person in a retail store a question about the product you are about to purchase and they say they will get back to you in a minute but actually finish their phone call, chat with a few others in the store and then start another project before getting around to the answer. It is likely you would walk out on such a situation. The same is true when forming solid relationships with customers and partners. The sooner you respond, the more it is likely that they will want to do business with you.

Likewise, the partner will need to nurture the relationship. Relationships are two-way streets.

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Creating A Winning Balance Sample Sheet

Writen by Shaunta Pleasant

There are many important documents in the life of the business owner, but finding a quality balance sample sheet is one of the most important.

Financial documents such as the balance sample sheet can play an integral role in the overall health and well being of the business, and it is important for every business owner to know where to find this balance sample sheet.

Places To Find A Balance Sample Sheet

One of the best places to look for this balance sample sheet is on the internet. After all, anyone who has ever been online no doubt knows just how much information can be found there.

There are a many web sites where such a balance sample sheet may be found, and the smart business owner may want to download several of these balance sample sheet in order to have a good variety to choose from.

Detailing Enough To Provide Complete Information

Of course, downloading a balance sample sheet is only half the battle. The other half will be customizing that balance sheet to the need of your own business.

Each business is unique in many ways, and it is very unlikely that the first balance sample sheet you find will completely serve your needs.

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Growing Your Lawn Care Business The 4 Areas Of Focus

Writen by Chestin Salisbury

For the most part, the majority of businesses today have the common goal of wanting to grow. This means more customers, more profit, and ultimately more money for the owner.

No matter the industry you’re in or the type of business you run, there are really only 4 ways to achieve this objective. While there are many ways to approach these 4 areas, it’s important to keep them all in perspective as you work to grow your lawn care business.

Here are the 4 main areas of growth and some ways to achieve success in each:

1. Attract more new customers.

This one goes without saying. It’s impossible to grow a business, let alone be successful in business if you’re not constantly adding new customers. Customers are the lifeblood of any business and adding new ones should be a constant focus for any business owner that desires to be successful.

There are countless methods for attracting new customers and this holds true for lawn care companies as well. Here are a few ideas that work particularly well for the green industry:

  • Door hangers, flyers, or leave behinds done in areas where you already have existing clients.
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    Some Tax Wisdom from Minnesota

    Confronted by a tough economy, Minnesota Governor Tim Pawlenty (R) has an interesting idea – tax relief business.

    As reported on TwinCities.com on January 16, Pawlenty called for a variety of business tax cuts in his State of the State address.

    The key measures were reducing the corporate income tax rate from 9.8 percent – which is third highest among the 50 states – to 4.8 percent and allowing businesses to expense the cost of capital expenditures in the year the assets were purchased.

    These would go a long way in boosting business and investment in Minnesota – though his proposed six-year phase-in on the corporate tax cut is way too long, and will only serve to delay the economic benefits.

    Other seemingly more targeted measures included $50 million in small business tax credits; a 25 percent refundable tax credit for small-business owners that reinvest in their firms quickly; and a capital gains exemption for qualifying investments in small businesses.

    On the “Small Business Survival Index 2008,” which ranks the states according to their public policy climates for entrepreneurship, Minnesota came in at a dismal 46th. These Pawlenty tax cuts would clearly improve the frigid policy climate for business in Minnesota.

    Raymond J. Keating
    Chief Economist
    Small Business & Entrepreneurship Council

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