Posts Tagged ‘Small Businesses’

When Does A “Virtual Office” Set-Up Make Sense?

April 25th, 2012 admin

When does a virtual office set-up make sense … and for whom? For example …. using virtual office packages from Packet8 or iTeleCenter.

Small businesses and home offices appear to be the best candidates (improved cost effectiveness, “big time” presence and reach, and efficiencies gained) … true or false?

Short answer … true.

As for when it makes sense … and for whom?

I would say a virtual office set-up makes sense when you need to be mobile and can actually add more value by doing so, i.e. costs would be incurred by requiring you and your employees to be at a specific location for a specific required time. Or, to improve the productivity of an already existing dispersed group.

To illustrate the advantages of a Virtual Office here’s a testimony from Mark Adams of MergingDesign.com ……

“My company is a marketing/design agency, and being virtual works wonderfully for us. It started out of necessity six years ago because we simply couldn’t afford office space in the beginning. But it turns out that allowing designers and programmers to work out of their home office is a great benefit that helps us attract experienced talent. We use Packet 8 Virtual Office and most of our clients don’t even realize we’re virtual. And we use IM, Email, BaseCamp, shared servers, etc.

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SBI! Community

March 10th, 2012 admin

SBI! Case Studies

The SBI! private forums provide friendly, helpful support from other Site Build It! users. Help is available from folks who are in the same place as you. This peer-to-peer support gets you over the humps along the way in a stress-free environment. Help is available even for advanced questions. The forums are a business-building support community ready to help you succeed.
The SBIX! weekly newsletter brings you the latest news from SiteSell and around the Web, highlighting only what you “need to know,” and saves you time. You won’t have to worry about keeping up with the latest online marketing developments. We do it for you. You’ll stay informed but not bogged down so you’ll be able to continue focusing on your business.
The tortoise approach symbolizes SBI!’s steady-and-sure approach. It’s definitely not GRQ (GetRichQuick) and keeps you from getting distracted by false promises or dead-end tools and strategies that end up costing more money. Experienced users will appreciate avoiding time-wasters that don’t help you succeed. Think of it as a simple, direct, hype-free path that leads to success.
SiteSell.com was established by Dr. Ken Evoy in 1997. His series of books have helped hundreds of thousands of entrepreneurs and small businesses.

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BRAND YOURSELF

March 1st, 2012 admin


You don’t have to be a Fortune 500 corporation to have a ‘brand‘–sure, we associate the branding process with products/services such as “Brillo” , “Subaru” , “Apple” or “H.&R. Block”, but we can all create and market ourselves and our small businesses with a Personal Brand.

Your brand is your identity. Build your brand based on who you are, and what you want your company to say, to mean, to represent.

What message do you want your company to convey? This is part of the branding process. You can create a logo that ties-in with the message you want to send to your clients and potential customers.

For example, if you run a small kiosk that sells coffee in a busy office complex, you might want to convey “speedy service” with “quality” coffee. Maybe the coffee cup in your logo is flying quickly through the sky? Or, maybe to suggest that fresh brewed aroma, you create a bag of coffee beans that looks professional, but fun.

Everything you do in your small business should be all about your brand. If someone approaches you and wants to pitch a product to you to sell in your store, make sure it is appropriate to your brand.

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SBA Applauds Treasury Action to Bolster Secondary Market for Small Business Loans

February 13th, 2012 admin
More on the SBA Loan issue. An SBA press release yesterday announced that the Treasury and Federal Reserve has taken steps to make pooled SBA loans more attractive to investors. The result will likely mean banks that were out of SBA lending will get back in. This is a good sign for small businesses in need of capital.

WASHINGTON, Nov 25, 2008 (BUSINESS WIRE) —
A plan by the Treasury and the Federal Reserve to improve market conditions for asset-backed securities – including those composed of SBA-backed small business loans – should be welcome news to credit-hungry small businesses across the country, said U.S. Small Business Administration Acting Administrator Sandy K. Baruah.

The plan, announced today by Treasury Secretary Henry Paulson, establishes the Term Asset-Backed Securities Loan Facility, or TALF, to breathe new life into a secondary market that essentially ground to a halt in October. The TALF would make loans to investors who purchase asset-backed securities made up of small business loans guaranteed by SBA, auto loans, student loans, or credit card loans. As a result, lenders will find it easier to sell the loans they make, and use the proceeds of those sales to make new loans.

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Discover Small Business Watch

February 9th, 2012 admin

40% of Small Operators Expect Less Holiday Business This Year

The Discover Card Small Business Watch is a monthly index measuring the relative economic confidence of U.S. small business owners who employ less than five employees, a segment that consists of 22 million businesses producing more than a trillion dollars in annual receipts. The Watch is based on a national random survey of 1,000 small business owners. It is commissioned by the Discover Business Card.

The Discover Small Business Watch continued to decline for the third straight month, dropping below 70.0 for the first time since the Watch was established in August 2006. The index fell 3.9 points in November to 67.5.

“Small businesses are continuing to feel pressure in this weakening economy,” said Ryan Scully, director of Discover’s business credit card. “The number of owners having trouble paying their bills is the highest we’ve seen since April and more than half of owners are cutting back on their business development plans, which is an all-time high.”
November Key Findings:
– 44 percent of small business owners have experienced cash flow issues over the last 90 days, up sharply from 38 percent in October.

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As the Pain Trickles Down…

February 2nd, 2012 admin
Many small businesses are created in order to serve the needs of the larger corporate sector. High end restaurants and caterers, decorators, landscapers etc. are not needed as many large companies disappear and those still afloat trim their spending to show they are feeling the pain to their stockholders. Those who lose their jobs are cancelling child care, house cleaning, lawn maintenance, music lessons, you name it. All of this leads to harder times for a wide array of small businesses.

Jacksonville is a case in point. All of the lost jobs in our formerly large development and home mortgage related industries have a direct effect on local businesses. All of those cancelled holiday parties add up and we are seeing a lot of clients who are likely to go out of business in the coming months despite best efforts to hang on. Read this article from Reuters called Small Businesses Feel Wall Street’s Pain.
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Top Tips For Small Businesses To Survive The Recession

January 29th, 2012 admin

Here are some tips for small businesses to survive the recession …. courtesy of the everywoman network:

1) Know your cost base.

What costs are fixed (ie, costs that you HAVE to pay) and what are variable (ie, that are essentially optional or that fluctuate with sales). Splitting costs in this way will help you to pay what needs paying and cut back on what doesnt.

2) Good credit control

Dont let your clients use you as a bank, if they want a loan for goods or services – thats where they need to go! You should be paid to the terms on your invoice, or earlier. Start a policy of telephone chasing outstanding invoices when they are X days overdue, then follow it up with a letter. Make sure your invoice terms are clear on your invoices.

4) Asset finance

Think about whether you really need to pay upfront for an asset or piece of equipment, could you lease the equipment? perhaps over the short term until you are sure its required or that your business finances can support a longer term commitment.

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CRM For Small Business ….. What Works Best?

January 16th, 2012 admin

Contact management for small businesses is a big deal …. often having abig impact on your bottom line. Afterall …. how well you connect and stay in contact with customers (and potential customers) ….. track and manage your sales and marketing data …. and drive business to your company is crucial to your overall income numbers.

Here is a quick “Guide” with strengths and weaknesses of three CRM software packages I’m comfortable recommending:

Salesforce.com …….

PROS: Integration with dozens of 3rd party tools including marketing automation. Hands down the most powerful import functionality of all CRMs my test group ever used. Salesforce.com allows you the most flexibility with mapping of data ….. and gives you full control of what data gets overwritten, merged, and updated. It is also easy to use and quick to navigate.

CONS: Expensive compared to other alternatives. Little to no contractual flexibility.

SugarCRM ……..

PROS: Nice interface and powerful customization, most powerful if you count the ability to edit code. Flexible contract terms. More cost effective than Salesforce.com in the OnDemand version …..

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IRS Tax Calendar for Small Business

January 15th, 2012 admin
The IRS 2009 Small Business/Self-Employed Tax Calendar is stocked and ready to go. With its professional illustrations, in-depth business tax information, and day-to-day reminders for which business taxes are due when, the 12-month wall calendar has always been a popular item. The calendar is FREE. Small business and self-employed taxpayers can also download the business tax dates and reminders directly to their Microsoft Outlook calendars, and access the calendar via electronic organizers and portable hand-held devices.

New 2009 topics include:
• The 2008 Economic Stimulus Act
• Section 179 Expensing
• Minimizing Identity Theft
• Disaster Recovery for Small Businesses

To order, visit https://webaccess.unf.edu/exchweb/bin/redir.asp?URL=http://www.irs.gov/businesses/small/page/0,,id=82780,00.html on IRS.gov or call the National Distribution Center at (800) 829-3676. Early orders are being accepted for the Spanish version. The tax calendar will be available online at www.irs.gov/formspubs/lists/0,,id=97819,00.html by early December and in Spanish (Pub 1518SP) by mid-November.
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The Best Online Discussion Forums For Small Business Owners

January 8th, 2012 admin

You may have other online discussion forums for small businesses that you’d suggest …. by all means add them as a comment in reply.

Here’s a few to wet your whistle and get you started:

spotabusiness.com
linkedin.com
biznik.com
businessownersideacafe.com

They are all free …. and you get out what you put in. Participate regularly as a contributer (offer assistance/information in discussions) and/or ask questions for yourself. You can get useful information for your own purposes … as well as network with other small business onwers for potential B2B joint ventures.

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Senator Schumer Unveils $700M Small-business Stimulus Plan

January 5th, 2012 admin
An article from New York Newsday describing the Schumer plan that would waive fees for SBA loans to make them more attractive and get more banks involved. According to the Senator, (The SBA)”must play a bigger role because 65 percent of U.S. banks have tightened their lending standards for small businesses and 70 percent have raised their interest rates, making it harder for small businesses to get loans. The plan if it is supported would be part of the next economic stimulus package we are all hearing about. Read the article here.
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Joe The Plumber & The Small Business Tax Issue

January 4th, 2012 admin

When it comes to taxes this election and Obama vs McCain … just what does it mean to be “Joe The Plumber” or any small business owner for that matter?

If the problem we have in the country is a lack of jobs (unemployment numbers have been increasing, but this is one of many issues), should we be increasing the taxes of the job producers (remember Small Businesses create the most jobs in the US)?

Most small businesses don’t have the mythical $250,000 income (though they may make over $120k at which point McCain’s plan would save them more in taxes). But most small businesses don’t have any employees either. The small businesses that do have multiple employees likely fall into this category (250K earniners).

How much income should the business be throwing off before the owner is comfortable expanding their staff? Probably somewhere around 250k when you consider employee expenses (salary, taxes, insurance, etc), risk of a future downturn, and the owner’s personal income?

If you’re comparing with vs without Obama’s plan, then the number is $250k. But if you compare how much better off you are with Obama vs McCain, then the number is around $120k (see link).

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