This article at CNNmoney.com outlines the loan program, and how, for the nearly 5,000 who participated, it may have been worth the struggle. But the bottom line? Overall, it was a flop that had U.S. Sen. Olympia Snow (a primary supporter of the bill) calling for its termination five months later.
This article at CNNmoney.com outlines the loan program, and how, for the nearly 5,000 who participated, it may have been worth the struggle. But the bottom line? Overall, it was a flop that had U.S. Sen. Olympia Snow (a primary supporter of the bill) calling for its termination five months later.
The tips are: 1) Going where the growth is (meaning targeting clients in growth industries like medical and technology); 2) Ally with other businesses that offer complementary services; and 3) Using online tools to provide useful, educational content to prospects.
One of the tips I would add—and something I always heard from the hundreds of small business owners I've talked to over the years—is to dedicate some time every day to sales efforts. It's easy for small business owners to get so caught up in the day-to-day operations that sales activities never get crossed off the to-do list.
]]> Was landing new clients one of your new year's resolutions? If so, you need to read this Wall Street Journal article that outlines the three best ways to win new clients.The tips are: 1) Going where the growth is (meaning targeting clients in growth industries like medical and technology); 2) Ally with other businesses that offer complementary services; and 3) Using online tools to provide useful, educational content to prospects.
One of the tips I would add—and something I always heard from the hundreds of small business owners I've talked to over the years—is to dedicate some time every day to sales efforts. It's easy for small business owners to get so caught up in the day-to-day operations that sales activities never get crossed off the to-do list.
]]>1) Absorb the anxiety. Communicate quickly, openly and clearly about any challenges your organization faces.
2) Move quickly. Don't put off cutting costs -- even if it means laying off employees. This signals to your remaining staff that you are doing your part to protect the business.
3) Keep things light. Keep a calm attitude in the office, and make sure your staff lets loose once in a while. Laughing on the job helps calm anxiety.
For more information about managing workplace anxiety, click here.
]]> The more your employees hear about cash flow problems and recession-level unemployment rates, the more anxious they grow about losing their own jobs. Maybe you can't guarantee great cash flow through the recession, but you can manage the anxiety effectively. Here are a few tips from a recent BusinessWeek.com story:1) Absorb the anxiety. Communicate quickly, openly and clearly about any challenges your organization faces.
2) Move quickly. Don't put off cutting costs -- even if it means laying off employees. This signals to your remaining staff that you are doing your part to protect the business.
3) Keep things light. Keep a calm attitude in the office, and make sure your staff lets loose once in a while. Laughing on the job helps calm anxiety.
For more information about managing workplace anxiety, click here.
]]>1. 2010 Census. When it comes to government grants and programs, population counts matter. Make sure your town finds a way to make every resident count by attending meetings and helping canvas the town. After all, this census could affect your business for the next 10 years.
2. Healthcare reform. As we kick off the new year, new healthcare reform legislation has a few provisions that could affect rural business owners, such as student loan forgiveness for rural doctors. Click here for a straightforward summary.
3. "Shop Local" campaigns are growing. In 2009, small towns put an emphasis on buying from local businesses, and this is expected to grow in 2010. Before to get involved in any shop local campaigns in your area, and improve your customers' experience to attract more business while you're at it.
Click here for more rural small business trends to keep an eye on this year.
]]> When it comes to the latest news in the small business world, rural entrepreneurs don't need to know everything that goes on in the big city. The fact is, small-town business owners have different concerns to deal with. Here are a few trends for rural small business owners to keep an eye on in 2010:1. 2010 Census. When it comes to government grants and programs, population counts matter. Make sure your town finds a way to make every resident count by attending meetings and helping canvas the town. After all, this census could affect your business for the next 10 years.
2. Healthcare reform. As we kick off the new year, new healthcare reform legislation has a few provisions that could affect rural business owners, such as student loan forgiveness for rural doctors. Click here for a straightforward summary.
3. "Shop Local" campaigns are growing. In 2009, small towns put an emphasis on buying from local businesses, and this is expected to grow in 2010. Before to get involved in any shop local campaigns in your area, and improve your customers' experience to attract more business while you're at it.
Click here for more rural small business trends to keep an eye on this year.
]]>Laid off? Start a business from home. Looking for a place to trim expenses? Stop paying rent and just work from home. It makes sense.
Even if your business has a physical location, working from home just works, but only if you have the tools necessary to get the work done (like a fast Internet connection).
Actually, there's a lot more to working remotely, which is why we wrote an entire manual on the topic in the current issue of MyBusiness. Check out the Essential Guide to Flexible Work Arrangements to maximize working from home (or a coffee shop or a hotel lobby) for yourself and your employees. The guide features tips for managing a virtual workforce, rules to follow when working from home, pointers for interviewing at-home workers and more.
]]> The home is the new hotbed of entrepreneurial activity, boasts this Wall Street Journal article. In fact, the article explains, more than 52 percent of businesses are home-based.Laid off? Start a business from home. Looking for a place to trim expenses? Stop paying rent and just work from home. It makes sense.
Even if your business has a physical location, working from home just works, but only if you have the tools necessary to get the work done (like a fast Internet connection).
Actually, there's a lot more to working remotely, which is why we wrote an entire manual on the topic in the current issue of MyBusiness. Check out the Essential Guide to Flexible Work Arrangements to maximize working from home (or a coffee shop or a hotel lobby) for yourself and your employees. The guide features tips for managing a virtual workforce, rules to follow when working from home, pointers for interviewing at-home workers and more.
]]>The tips run the gamut, from testing your e-mail and online marketing efforts more to experimenting with social media. My favorite tip is from Michael Port, author of The Think Big Manifesto. He encourages small business owners to increase their likability factor. "Strive to be your best, most authentic and likeable self and you will be well on your way to becoming the obvious choice for your potential clients," he says.
The tips run the gamut, from testing your e-mail and online marketing efforts more to experimenting with social media. My favorite tip is from Michael Port, author of The Think Big Manifesto. He encourages small business owners to increase their likability factor. "Strive to be your best, most authentic and likeable self and you will be well on your way to becoming the obvious choice for your potential clients," he says.
1) There is no free advertising. Committing your business to a social media following takes a great amount of time and attention to detail. If you don't have the time to commit to reaching out through Web platforms, hire someone who does.
2) Look at the big picture. Social media and traditional marketing should work together for your benefit. While social media promotions are becoming necessary, they are not something into which you want to dump all your money and time, but neither is traditional marketing -- you must find the right balance for your business.
For more on balancing your budget, click here.
]]> With the new year upon us, it's time you take a serious look at your marketing budget -- but that doesn't mean you have to break the bank. According to a recent article on NFIB.com, finding the right mix is important, so make sure you consider these two points before you assign an arbitrary percentage to your marketing budget.1) There is no free advertising. Committing your business to a social media following takes a great amount of time and attention to detail. If you don't have the time to commit to reaching out through Web platforms, hire someone who does.
2) Look at the big picture. Social media and traditional marketing should work together for your benefit. While social media promotions are becoming necessary, they are not something into which you want to dump all your money and time, but neither is traditional marketing -- you must find the right balance for your business.
For more on balancing your budget, click here.
]]>"Don't believe the hype," he says. "Understand what fits your business."
If a lot of your customers are online, then setting aside some time for social media might be beneficial. On the other hand, if you run a B2B operation or your company targets the older population, you might be wasting the time you spent setting up that Facebook or Twitter account.
Determining that you need a social media presence is just the first step; then you need to figure out how to use it. The article has guidance on that, too.
]]> A lot of small businesses are jumping on the social media bandwagon, opening Facebook groups and Twitter accounts to reach out to current and potential customers online. But that doesn't mean social media is worth your time, Neal Schaffer explains in this Wall Street Journal article."Don't believe the hype," he says. "Understand what fits your business."
If a lot of your customers are online, then setting aside some time for social media might be beneficial. On the other hand, if you run a B2B operation or your company targets the older population, you might be wasting the time you spent setting up that Facebook or Twitter account.
Determining that you need a social media presence is just the first step; then you need to figure out how to use it. The article has guidance on that, too.
]]>The business section of a bookstore or library is overflowing with new titles, so how do you know which ones are worth the cover price and which aren't? Inc's list of Best Books for Business Owners of 2009 is a good place to start.
The editors at Inc. did the hard work of sorting through all the titles that came out this year to arrive at 14 worthwhile business books on topics ranging from innovation to social media to customer loyalty.
]]> There's not a day that passes at MyBusiness headquarters that we don't get a new book from a business publisher. A recent one that I recall was a healthcare survival guide, but a quick flip through it was all it took to realize it offered nothing new or groundbreaking for small business owners.The business section of a bookstore or library is overflowing with new titles, so how do you know which ones are worth the cover price and which aren't? Inc's list of Best Books for Business Owners of 2009 is a good place to start.
The editors at Inc. did the hard work of sorting through all the titles that came out this year to arrive at 14 worthwhile business books on topics ranging from innovation to social media to customer loyalty.
]]>Retirement ended early and the company is now undergoing major damage control. Lesson to be learned: don’t hire your friend unless they know what they are doing and would be a good job candidate friendship notwithstanding.
Retirement ended early and the company is now undergoing major damage control. Lesson to be learned: don’t hire your friend unless they know what they are doing and would be a good job candidate friendship notwithstanding.
]]>1. Just because you hire a lawyer, doesn't mean the customer will pay.
2. Collection agencies charge on a percentage basis, and track down your money by calling and writing letters to your client.
3. Most lawyers won't take on collection matters because small business owners don't like to pay by the hour, and the percentage of earnings is too small to warrant the case.
4. Most collection lawyers take on clients with hundreds of files; rarely will they take on one individual case.
5. In Illinois, a corporation can file a claim without an attorney if the claim is $2,500 or less.
6. Don't wait too long to turn a bill over to a collection lawyer or agency; that way there's still money to get.
For a complete run-down of these six points, read Jay's story here.
]]> Tired of waiting around for one of your clients to pay up? Your initial instinct might be to turn to a lawyer or a collection agency, but make sure you have all your facts straight first. The New York Times' Jay Goltz put together these six points for small business owners to consider when collecting receivables:1. Just because you hire a lawyer, doesn't mean the customer will pay.
2. Collection agencies charge on a percentage basis, and track down your money by calling and writing letters to your client.
3. Most lawyers won't take on collection matters because small business owners don't like to pay by the hour, and the percentage of earnings is too small to warrant the case.
4. Most collection lawyers take on clients with hundreds of files; rarely will they take on one individual case.
5. In Illinois, a corporation can file a claim without an attorney if the claim is $2,500 or less.
6. Don't wait too long to turn a bill over to a collection lawyer or agency; that way there's still money to get.
For a complete run-down of these six points, read Jay's story here.
]]>As outlined in this New York Times article, the proposals include a tax credit and a temporary elimination of capital gains for small businesses that create new jobs. Obama also proposes leftover money from the 2008 bailout package be used to help unfreeze credit lines for America's job creators.
Of course, Obama's speech today was just step one in a long process of making these efforts a reality for small business. Stay tuned to NFIB.com for updates on these small business stimulus efforts as they happen.
As outlined in this New York Times article, the proposals include a tax credit and a temporary elimination of capital gains for small businesses that create new jobs. Obama also proposes leftover money from the 2008 bailout package be used to help unfreeze credit lines for America's job creators.
Of course, Obama's speech today was just step one in a long process of making these efforts a reality for small business. Stay tuned to NFIB.com for updates on these small business stimulus efforts as they happen.
In lieu of bonuses and raises at Proforma Worldwide Support Center, a printing and promotional products franchise in Cleveland, executives have vowed to scrape snow off of all 100 employees' cars at least once a month this winter. They're also treating workers to breakfast once a month. "Pretty much everyone is working harder than ever, and it's a way to thank people," company president Greg Muzzillo told the Wall Street Journal. Check out the article for more creative alternatives to holiday parties and perks for employees and clients.
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