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.

Posted by Lena Anthony on January 22, 2010 11:37 AM

Ah, the new year. A time for fresh beginnings. And after a year like 2009, who couldn't use a fresh start? If you're still pondering goals for your business in 2010, check out Entrepreneur.com, which offers advice from 10 experts on the bottom line-boosting resolutions small business owners should make—and keep—this year.

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.

Posted by Lena Anthony on January 5, 2010 09:06 AM

Earlier this year, we introduced the concept of pop-up stores to MyBusiness readers through the story of Jonah Staw, CEO of Little Miss Matched (littlemissmatched.com). Instead of opening up a permanent location to sell his children's accessories, he opened up temporary locations, or pop-up shops.

He got a great deal on a short-term lease, saved on overhead costs and was available for his customers when and where they needed him most—during the busy holiday season in the shopping mecca that is Manhattan.

This BusinessWeek article points out the fact that the concept of the pop-up shop isn't new, it's just more viable this year than in the past. The article talks to experts about when a pop-up shop makes sense and how to get the word out to customers in such a short window of time.

Posted by Lena Anthony on November 23, 2009 02:45 PM

A few weeks ago I grabbed coffee with an old friend, who is in the process of launching his own consulting firm. Mid-way through the conversation, I started to feel like he was trying to sell me on his business. When I asked why, he said, "The more people I present my ideas to, the better I get at communicating my business -- and the more customers I'll have."

I couldn't help but think about that conversation when I read this post on TechDrawl.com. At the end of the day, no matter how great your vision or business plan is, you have to be able to sell it to other people, including family, friends, advisors, investors and the customers themselves. According to the post, "Selling the vision is the number one skill entrepreneurs don’t spend enough time perfecting."

What are you waiting for? Get out there and practice!

Posted by Megan Pacella on November 4, 2009 04:12 PM

For me, networking is like going to the dentist. I know it's good for me, but it's uncomfortable and unpleasant. I'm sure a lot of small business owners out there feel the same way. Networking is one of those business activities that you have to do, but at the time, it can feel so fake, awkward—and unfruitful.

Well, your next attempt at networking won't be if you follow the networking tips in this Wall Street Journal article. The easy-to-follow, anyone-can-do-it tips are excerpted from the forthcoming Wall Street Journal Complete Small Business Guidebook, which will be released by the end of the year.

Posted by Lena Anthony on October 26, 2009 12:58 PM

There's nothing that turns me away from a business faster than the feeling that someone is trying to "sell" me. Perfect example: Last week I was in the process of purchasing a new cable television package, when the sales representative I was speaking with started pushing me to upgrade to a more expensive package. She made me so nervous that I was making the wrong decision about the product she was offering that I decided against cable television altogether.

As it turns out, according to this BusinessWeek.com article, I'm not alone in my aversion to the hard sell. The small business owners in the story have seen their sales skyrocket since they changed to a soft sell sales tactic. Their strategy? Just put yourself in the customer's shoes and treat them how you want to be treated when you're shopping. It sounds simple enough, but many businesses feel that an overpowering sales method will get them further in the end.

For more on changing your sales tactic, click here.

Posted by Megan Pacella on October 21, 2009 05:20 PM

Long before I was an editor for a small business magazine and knew anything about the issues facing small business owners, I remember thinking it was odd to see a sign in a small gift shop that said, "5 percent discount if you pay cash."

Of course, now I understand exactly why a merchant would offer such a discount—because that discount is cheaper than the fee the merchant pays when a customer uses a credit card.

Credit-card fees are a huge hassle for small business owners. They're hard to understand, they're always changing, and they're different for everybody. Congress is trying to streamline some of the regulations that apply to credit-card processing fees, but in the meantime, there are some steps you can take to reduce the fees on your own. If you're in NFIB, you can sign up with Solveras Payment Systems, which offers reduced negotiated rates for members. If you're not an NFIB member, you should definitely read this BusinessWeek article about the owner of Dollhouse Bettie, a San Francisco lingerie boutique.

With some dedication, she negotiated better terms with her credit-card processing company, which she estimates will save her $4,000 a year.

Read the article to find out what hidden fees she got reduced or removed, and then check your last statement for similar charges. You may be due some savings, too.

Posted by Lena Anthony on October 19, 2009 02:13 PM

After reading this post, you should publicly thank the folks who run SmallBizTrends.com. Because of them—and their post titled "33 Highly Useful Presentation Tools"—your next presentation is going to be awesome.

I'm embarrassed to say I didn't recognize a single one of the tools, but I'll definitely be checking some of them out. Like Toufee, which allows users to create flash files—no flash experience required. Or Animoto, which turns ordinary photos into video.

One caveat, despite what the title to this post says: You probably shouldn't use all 33 tools for your next presentation. That might leave all of your audience members' heads spinning, which is probably not the goal you were going for.

Posted by Lena Anthony on September 28, 2009 04:26 PM

Lucky for me, my car hardly ever needs repairs. Problem is, when it does, I have no idea where I can get the best service for my money. So last night when I needed a mechanic, I did what most consumers do: surfed the Web for customer reviews. When I found a review site where 10 people posted about the cheap prices and timely repairs at one auto shop, I knew where to take my car.

Recent Niehlsen research indicates that 70 percent of consumers trust the customer reviews they read online, just like I did. And that means your online presence is more important than ever. But putting yourself out there comes at a risk, says this Bmighty.com article. When dissatisfied customers take their anger to the Web, your small business' good name can quickly become tarnished. Looking for ways to nip those controversies in the bud?

The article suggests checking your social media profiles regularly to scan for negative feedback. Then, engage in any negative conversations to address the concerns of your disgruntled customer and let potential customers know you care. Also, recruit your loyal customers to put the good word out about your business online. Finally, be sure to react appropriately early, and publicly to clear up your good name.

Posted by Megan Pacella on September 8, 2009 02:18 PM

I recently bought my first house, which meant I was in the market for household necessities like lawnmowers, weed eaters, grills and washing machines. Obviously price helped me whittle down my choices, but I think the reason I'm still happy with all of the purchases I made is because I did a lot of research beforehand. And when I say I did a lot of research, I mean I read page after page after page of customer reviews online.

Who needs a salesman or witty copy when you have 300 happy (or unhappy) customers who can sell something for you? That's the question Backcountry.com President John Breese asked—and answered—when his company developed a robust Web site that allows customers to shop for outdoor gear and interact with each other through reviews, stories from the trenches, Q&A's, photos and more.

Check out this BusinessWeek.com interview with Breese to find out his secrets to turning customer reviews into a customer experience.

Posted by Lena Anthony on September 2, 2009 08:33 AM

Panera might not be a good example of a small business, but how they're coping with the recession is a lesson all small business owners should heed: Instead of slashing prices, the casual chain restaurant is introducing higher-end items like lobster to attract customers.

It's a similar story we heard from the owners of Ampersand Designs, whom you can read more about in the October/November issue of MyBusiness. Laura Street, cofounder of the jewelry company, says it best:

“With the economy being what it is, there’s not a lot of money floating around to buy jewelry. Our customers know what they get is one-of-a-kind and special. It’s a smart way to spend your money.”

Whether it's jewelry or lobster, the fact is consumers are looking for better, more meaningful ways to spend their money. Check out the Wall Street Journal article on Panera's new practices to learn more.

Posted by Lena Anthony on August 26, 2009 04:04 PM

Nailing sales presentations is more important now than ever. But crafting a killer presentation takes a lot of practice. If you haven't brushed up on your sales skills lately, there's no need to worry. BusinessWeek.com lists 15 ways you can screw up a sales pitch in this article to keep you on top of your game. Here are a few that stick out:

Misspell words. It only takes a few clicks to spell check your work. Don't forget to read each slide carefully to make sure you didn't slip up anywhere.

Misuse photographs. If a photo is too small to enhance your presentation, don't use it. Blowing it up to fit will distort the image and make it blurry, thus distracting your potential clients.

Look disheveled. Arriving in a wrinkled shirt and yesterday's jeans is the fastest way to turn off a client. Make sure you look clean and polished before you arrive.

For more major presentation donts, check out the article.

Posted by Megan Pacella on August 25, 2009 04:35 PM

I am definitely guilty of what this article on smSmallBiz.com describes:

"Potential customers go shopping on their site, like what they see, and put merchandise in the shopping cart. But somewhere during the checkout process, they 'abandon' their cart and depart the site, sometimes never to return."

But I can't pinpoint why. Sometimes the shipping ends up being too much, and I just can't justify the expense. And sometimes I fall into the trap of online shopping being all too easy: It's so easy to "add to cart" but clicking "complete order" is so much harder.

The article explains some of the reasons shoppers have for abandoning their cars on your Web site, as well as some steps you can take to stop this from happening.

Posted by Lena Anthony on August 24, 2009 02:24 PM

It seems that lately, more and more business experts are discussing the importance of collecting customer feedback. Sure, that sounds like a great idea, but how do you gather testimonials from your most loyal clients without coming across as pushy or annoying? This article from smallbiztrends.com lists the least intrusive channels through which you can collect customer feedback:

Company E-mailings: If a customer has already subscribed to your company newsletter, use it as a means to ask for feedback. Simply post a call-out at the bottom asking subscribers to rate your business.

Order Confirmations/Follow-Ups: Follow up with customers after they do business with you to make sure they were happy with your service.

Ask Them to Create Their Own: Hold a contest for the best customer testimonial. Have customers create videos, images, audio or any other medium to express how they feel about your company. Award free products or discounted services to the customer with the most creative method of giving feedback.

Offer Incentives at Check-out: Hand customers a comment card when they check out and tell them they'll receive a discount coupon for filling it out before they leave.

For more on customer feedback, check out the "Listen Up" feature in the April/May issue of MyBusiness.

Posted by Megan Pacella on June 9, 2009 11:43 AM

Times are tough, sales are down and who doesn't love a giveaway? In a slowdown, businesses might be tempted to offer freebies and giveaways to get customers in the door, but this Wall Street Journal article warns that their good intentions could backfire.

If you asked me, I'd say go for the giveaway gimmick. I love a good freebie, and you'll have my business for life. Just ask my auto repair shop, which offers freebies via its monthly newsletter.

But if you ask some experts, they'd say to think before you advertise the words "FREE FREE FREE." They say you run the risk of coming off as cheap, which is a problem because once the promotion is over, your customers may be wondering where all those great deals went.

One of the keys is to make the promotion enticing enough.

I interviewed Lou Aaron, a restaurateur in Boise, Idaho, last week for a story I'm writing on customer feedback. During the interview, it came up that he's been running promotions specifically to help combat the economy. His latest one? Come in for lunch or dinner on Tuesdays and Wednesday and your meal might be free (he chooses the lucky diners at random). It's a cheap and easy way to get customers through the door, he told me.

Posted by Lena Anthony on February 9, 2009 03:30 PM

If you haven't nailed a sales pitch in a while, don't start pointing fingers at the economy. Sure, executives are watching their pennies more closely than ever, but you can only win new business if you can prove that your services will save potential clients money. Not sure what you're doing wrong? Check out this Forbes.com article for some answers. Here are a few presentation killers to watch for:

Keep it simple. Using a detailed Power Point presentation is a quick way to lose your audience. Keep text to no more than six bullet points, and use no more than six words for each point.
Touch, turn and talk. Never turn your back to your audience. Use a pointer to call attention to your visual, and make eye contact with your audience when you talk.
Get feedback. When your presentation is over, don't just summarize your points and leave. Ask your audience to voice any concerns, so you have time to disprove their objections.

Want the short version? Check out "In Pictures: 10 Presentation Killers."

Posted by Megan Pacella on January 27, 2009 12:16 PM

The last thing you probably think potential customers want to hear in this economy is a sales pitch about why they should work with your business. And you're probably right. That's why you should read this Entrepreneur.com article on "comfortable selling."

The article is written for women in business who shy away from making a sales pitch, but I think the tips transfer well to any business trying to establish new relationships in this current economy.

Posted by Lena Anthony on December 2, 2008 11:19 AM

Increasing your marketing budget and raising prices may seem like the exact wrong thing to do in today's gloom-and-doom economy, but it's actually not a bad time to do both, says this New York Times article.

Spending more on marketing, it argues, makes sense because your competitors are probably scaling back—so your marketing message has a better chance of being seen and heard by new customers.

As for raising prices, the rationale goes that whether there's a recession or not, the fact is that costs are increasing for businesses. As long as businesses can continue to prove the value to customers, the increase shouldn't scare anyone away.

The current issue of MyBusiness covers the basics of raising prices without losing customers. Check out the article here, and check back in a few weeks for the next issue of MyBusiness, which features the "Essential Guide to Recession-Proofing Your Business."

Posted by Lena Anthony on November 12, 2008 10:37 AM

We all know the good that social media (blogging, social networking sites, wikis, Twitter) has brought small businesses. But have you thought about the bad? Steve Ranjbin, owner of The Rooz Cafe in Oakland, Calif., has and he calls it Yelp.

In this New York Times article, Ranjbin complains that sites like Yelp.com, which allow users to share their experiences at local businesses, are not as business friendly as he—and any business owner—would probably like.

An excerpt from the article explains why:

"Mr. Ranjbin, who said that amateur reviews can hurt his business, said some had misquoted him or called his employees names, but that Yelp had refused to take these comments down. Yelp rarely removes reviews, even when advertisers complain, preferring to let the crowd have its say."

So how do you protect your business against the naysayers out there?

Easy—don't give them anything to complain about. Treat every customer who walks through your door like they're a reviewer from the New York Times. And pass that message along to employees, too.

Posted by Lena Anthony on May 21, 2008 09:30 AM

My neighborhood gas station has stopped posting the price of gas. Instead, the sign says:

Regular: An arm
Mid-grade: Both legs
Premium: First born

Even if you don't run a delivery business, by now you've probably felt the pressure at the pump. But have you figured out how to offset the increase in prices? Wilton, Conn.-based Wave Hill Bakers is dealing with the rising cost of fuel—and another commodity that's central to their business: wheat flour.

Sure, they've raised prices (a little) to compensate for the increased costs, but it doesn't end there, details this Wall Street Journal article.

Posted by Lena Anthony on May 7, 2008 02:48 PM

Where I live, we have at least two restaurants that cater to the chicken-fingers-are-my-favorite-food set. And yes, I frequent both of them—frequently.

Even though I've been going to both restaurants for years, I just noticed—this week, in fact—that they're basically the same restaurant, and, (here's the kicker), they both have the exact same "signature" dipping sauce. Of course, the sauces are called completely different things—probably to make people like me think they're completely different sauces. But they're not; they're exactly the same.

Which begs the question: Should someone get in trouble over this?

Geoff Williams tackles this subject in the current issue of MyBusiness in an article called "Coping With the Copycats." A recent New York Times article also covered this subject.

I guess it's a good thing we'll be talking about patents, trademarks and copyrights in the next issue of MyBusiness.

Posted by Lena Anthony on April 30, 2008 09:07 AM

When it comes to bad customer service, my husband holds grudges—bad ones. At the time of incidence, he's already drafting letters to CEOs in his head, wondering whether paragraph 2 or 3 would be the better place for the kicker—"Shame on you."

The most recent offense occurred at a restaurant. We didn't know it at the time, but we had fallen for what seemed like a great deal but was actually one of those, "Must read fine print" offers. We purchased a $100 gift card, which we gave as a present to a friend, and got a $20 gift card free. FREE!

But when we went to redeem it, we were told it had already expired. The fine print, you see, indicated that it had something like a 30 day lifespan, and we had just missed the deadline. Needless to say, we haven't been back since.

I recalled this bad customer service experience when I was reading this amusing New York Times article on rebates that are nearly impossible to redeem. The article itself doesn't have much to do with small business, but it offers a good lesson on offering your customers something for free.

If you extend an offer, do it all the way. Sure, your top line might take a hit, but what you gain in customer loyalty will more than offset the loss. If you can't handle that, then take the deal off the table. Trust me, you don't want a letter from my husband.

Posted by Lena Anthony on March 19, 2008 03:00 PM

45 days, 11 hours and 17 minutes. That's exactly how long it is until Christmas Day. Haven't started counting yet? If you run a business—especially a retail business—you should be. For many small businesses, the holidays are a crucial time of year, offering prime opportunities to rake in sales and build goodwill among customers and clients.

So how do you make the most of the Christmas rush? In an article in the Hartford Business Journal, Rhonda Abrams of the Gannett News Services outlines nine tips for holiday success. Here are a few:

•Send Christmas cards and gifts. Cards are an easy but inexpensive way to thank customers for their patronage and remind them about your business. Small tokens like a box of pralines or tin of popcorn show the people you work with every day—clients, suppliers and even employees—that you appreciate their role in helping your business thrive.

•Host parties. The holidays offer a great excuse to throw a party—and invite potential clients, referrals or people with whom you would like to network. Just go easy on the eggnog, and you might snag some great business for the new year.

•Create holiday specials and gift certificates. This is a perfect time to boost your business offerings through gift baskets and holiday packages, or build customer loyalty by selling gift certificates.

Posted by Emily McMackin on November 9, 2007 11:07 AM

Does size matter when you're trying to reel in a big client? No, according to a recent Entrepreneur.com/MSNBC article. In fact, the smaller your company is, the better, say small-business owners interviewed who do business with mega-corporations. Some of the reasons corporations prefer to hand their business over to smaller operations include:

•Fresh ideas and more creativity
•Closer attention to customer service
•Lack of bureaucracy

For those nervous about pitching their products or services to a big corporation, Gloria Irwin, who owns a one-woman promotional marketing firm that counts Harrah's Entertainment, Boyd Gaming and Isle of Capri Casinos among its clients, offers this advice: Don't apologize for your size—use it to your advantage.

Posted by Emily McMackin on September 28, 2007 10:35 AM

When I was in the sixth grade, my teacher came up with a brilliant idea that was sure to add big bucks to her teacher's salary: A battery operated steering wheel cover that would cool the wheel in the summer and heat it up in the winter. She put so much faith into her idea that she decided to apply for a patent after a few months of designing and perfecting the product. After putting hours into the project, she halted her plans to sell the creative car accessory, deciding that trying to sell the product would be too time-consuming and difficult.

Most have brainstormed about an innovative product at one time or another, but stopped after asking, “How will I sell this?” With the hassle of patenting products and appealing to executives, getting a new idea off the ground seems daunting and unobtainable. For tips about launching your brilliant idea, check out this article on Businessweek.com.

Posted by Megan Pacella on September 12, 2007 03:43 PM

If you're one of the 500,000 or so early-adopters who bought an iPhone after its launch in June, you're probably a little perturbed by the $200 price drop that was announced yesterday. Industry experts have always quarreled over whether Apple co-founder and CEO Steve Jobs is a genius or a madman, but they do agree on one thing: Apple customers are an extremely loyal bunch and always give the company a chance to redeem itself in their eyes.

However, as a small-business owner, you probably don't have the luxury to risk angering your customers, especially with sales mistakes that could have been easily avoided. Unless you posses Jobs' "reality distortion field," check out this Tools and Tips on NFIB.com to find out how to avoid making six common sales mistakes, including fearing the customer's reaction, rushing to judgment and approaching all complaints the same way.

Posted by Megan Goodchild on September 6, 2007 03:38 PM

OK, I know I'm about nine years late on this movie review, but I just have to get this off my chest. After watching a portion of "You've Got Mail" last weekend, I have decided that the movie does a great disservice to small-business owners.

In the movie, a small-business owner (Meg Ryan) closes her children's bookstore after a big-box bookstore (owned by Tom Hanks) moves in around the corner and steals all of her customers. And it wasn't just any bookstore, it was the bookstore her mother opened some 50 years ago and left to Meg Ryan's character, in what she thought were good hands, when she passed away. But she was wrong, because Meg Ryan barely put up a fight. All she did was complain and mope—when she should have been reaching out to new customers, carving out a new niche, figuring out new ways to offer personalized service that a big box couldn't touch. That's what real small-business owners do. They fight for their businesses.

Whether a big-box competitor is in your industry yet, you still have to be ready for them and be able to set your business apart (and above) the competition. That's what Tim Mikkelsen and Phyllis Wright-Herman, owners of MikWright LTD and featured in the current issue of MyBusiness, are doing with their greeting-card business. Even though they're small, they can stand up to the biggest competitors the greeting-card industry because they've found several ways to stand out.

Posted by Lena Anthony on September 4, 2007 10:27 AM

So, sales are slow? You've hit a dead end with your business? If either of these concerns have been weighing on your mind lately, it might be time to reinvent your business. Easier said than done, right? According to a Newsday article by Jamie Herzlich, pulling off this magic trick isn't as difficult as it might seem—as long as you take the proper steps and don't go changing your business willy-nilly. Herzlich recommends this strategy:

•Keep your eyes and ears open in the marketplace for signs about which direction to go
•Talk to employees, customers and suppliers to isolate the growth opportunities in your business/industry
•Evaluate your weaknesses and play your strengths, looking for joint ventures and strategic partnerships with complementary businesses
•Test new products/services on existing customers, then look for ways to expand your reach

Glean more insight on how to reinvent your business in our Dec./Jan feature, "Changing Lanes." We explore how owners of a bowling alley, a deli and a document storage and retrieval business took their companies from bust to boom.

Posted by Emily McMackin on August 10, 2007 09:17 AM

With so many corporate manufacturing plants moving overseas, it seems hard to believe that there is much room for small-business growth in the manufacturing sector. But a recent survey by the Kauffman Foundation proves otherwise. The survey found that manufacturing sales have risen 20 percent between 2002 and 2006 and 70 percent of all U.S. manufacturers have 20 employees or fewer.

So how are they managing to grow despite the overseas competition? According to this article by Phaedra Hines for Fortune Small Business, many successful small manufacturers are coming up with creative ways to produce products rapidly and keep customers happy.

Posted by Lena Anthony on May 16, 2007 10:15 AM

A couple of months ago, I decided I wanted to try to sell my computer on eBay. So I looked on eBay and saw that at least 30 other people—all who owned the same computer as I did—had the same idea. In order to sell it, I knew I'd either have some money on it—or make it stand out from the others. I needed a unique selling point. I decided that my computer was better than the other ones because I had never put any extraneous software on it or tinkered with any of the settings. Oh, and I'd provide free shipping. Solid gold, I thought.

Well, I sold it to a coworker's mom before I got to test the prowess of my unique selling point on eBay, but reading this blog post reminded me just how important it is to stand out from your competitors.

The post's author makes some good points about making your small business stand out among a sea of competitors. Go read it, and then fine tune your unique selling point—and then start selling it!

Posted by Lena Anthony on May 9, 2007 12:41 PM

I can't tell you how many times I've ordered something—usually clothes or shoes or—from the Internet and it arrived looking and fitting decidedly not how I thought it was going to. Would it hurt someone to give me the head's up that this shirt runs five sizes too small? Or that those shoes—ouch—hurt like they're made of needles?

Big online players like Amazon and Target have long understood the importance and necessity of customer reviews on their Web sites, and others are finally catching on, says this BusinessWeek article, which is chock full of statistics that all point to one thing: Reviews, pictures and comments from your customers can only help your sales.

And in the case of that horribly painful pair of shoes you sell? Well, hopefully you'll take the hint from your customers and discontinue them.

Posted by Lena Anthony on February 21, 2007 07:37 AM

In today's global economy, it might be business as usual for you to correspond on a regular basis with clients from around the world. However, if you are meeting face-to-face with international clients--especially for the first time--you should take time to learn a little about their culture as to not offend or miscommunicate. Today's Tools & Tips on NFIB.com offers some advice on global business etiquette, such as:

• Relationships are important. In most countries, businesspeople want to get to know you before getting down to business, particularly those from Latin America and Asia. Don't rush into business talk.


• Leave the trendy, loud clothes at home. Most of the world dresses conservatively in business, so dress appropriately modest. One exception is Hong Kong, where you might want to don a red tie or scarf--it is a much-appreciated symbol of good luck.


• Know when to kiss, shake hands and make eye contact. For the most part, you can't go wrong with a handshake in business circles around the world. However, how you shake hands does send a message: Americans tend to have a firm, quick handshake, with steady eye contact and a smile. But in Japan, this is considered a bit impolite--a light handshake is preferred. Always be prepared to bow or even to be the recipient of a hug or kiss in other countries.

Learning about the customs of different countries can be fun, and a little research can go a long way for your business.

Posted by Megan Goodchild on February 8, 2007 09:51 AM

"What did you do this weekend?" "Oh, raised $4.1 million in venture funding for my new Web site." I don't know about you, but I didn't have too many conversations like this in high school. Yet last week, investors announced they were sinking cash--and lots of it--into myYearbook.com, a site created by 17-year-old Catherine Cook that lets teens create their own digital yearbooks.

Teenagers today are proving that age isn't a barrier to the business world if you have a good idea and know how to execute it. The NFIB Young Entrepreneur Foundation hears stories of amazing young businesspeople all the time. Joe Pascaretta, a former winner of the Foundation's annual scholarship award, didn't waste his first semester of college skipping class and eating pizza. Instead, the University of Michigan freshman's landscaping firm grew more than 239 percent to gross more than $1 million in 2006. Kind of puts to shame that "B" in biology that I was so proud to earn my freshman semester.

Posted by Shannon McRae on January 29, 2007 10:48 AM

I bought a new purse at a local boutique this weekend, and when I went to the counter to pay, a big sign at the cash register got my attention: "10% off if you pay with cash."

Huh? I didn’t understand, but I wasn’t complaining. Then I read this article in the Startup Journal.

The store owners weren't trying to pull a fast one on the IRS, they were just trying to avoid paying outrageous credit-card processing fees.

According to the article, “a typical supermarket pays 24 cents in fees when a customer buys $40 of groceries with a debit card and a PIN. The fee rises to 35 cents for a signature-debit transaction and can be more than 50 cents when a customer uses a plain-vanilla credit card."

The article goes on to detail the many ways that business owners are trying to avoid the high fees, inclduing "steering" customers toward PIN-activated debit transactions. Or in the case of the local boutique that sold me the new purse, giving customers an incentive to pay with cash.

NFIB is also aware of the high fees that merchants pay for credit-card processing and offers negotiated rates with MasterCard and Visa to members who participate in the Solveras Credit-Card Processing Program.

Posted by Lena Anthony on January 23, 2007 03:09 PM

None of us can see into the future (and that's not a bad thing when you think about it). But if you're working hard, yet feel like you're not getting anywhere with your business, good news. Forget about predicting the future. New research from Six Disciplines Corporation finds that success might can be boiled down to just five attributes.

Small Business Trends Blog editor Anita Campbell recently revealed the traits most often shared by successful businesses with 10 to 100 employees. The first four are no surprise: a strong leadership team, the ability to attract and retain quality employees, a disciplined approach to business and strategic use of technology. But like Campbell, you might be surprised by the fifth: the wise use of trusted outside providers.

If you're trying to do it all yourself, relax--and seek help. The smartest businesspeople know that no one knows everything. Find advisors you trust and tap into their knowledge. Your future will look brighter.

Posted by Shannon McRae on December 13, 2006 02:39 PM

When I was in high school, I worked at my parents' small business some during the summer. I filed, answered phones, drove my little brother to swim practice--you know, important stuff. My dad did let me write a few press releases, but I can't remember if he ever sent them to anyone (hopefully not). When I compare my work in a small business to what the teenagers in this StartupJournal.com story do, I'm embarrassed. These young people are doing more than helping their parents--they're running small companies themselves. Far beyond your average lemonade stand, one 15-year-old is even in negotiations to have her product sold at Wal-Mart.

The cover story of the Dec./Jan. issue of MyBusiness explores the link between your childhood and your business. Some researchers suggest that genetics play an important role in whether someone "makes it" as an entrepreneur. But like the young people in the StartupJournal.com story, the small-business owners we spoke to told us hard work and dedication give you a better chance at success than having the perfect small-business genes.

The NFIB Young Entrepreneur Foundation works to help young people cultivate their entrepreneurial skills. Through programs like Entrepreneur-in-the-Classroom and the NFIB Young Entrepreneur Awards, the YEF is doing its part to ensure that young people have the tools they need to succeed in business—regardless of their DNA.

Posted by Shannon McRae on December 4, 2006 10:30 AM

A month after I bought a pair of jeans at a local store, I started getting phone calls from them, telling me that they had a new shipment come in or a sale was about to start. The first time, I thought, "Aw, that's nice." The second time, I didn't think much of it either. But by the third time, I was annoyed. What's with all the attention? I just bought a pair of jeans.

There's no doubt that excellent customer service is a cornerstone of running a successful small business, but can you go too far? Yes, say the people interviewed for this Wall Street Journal article.

From cosmetic counters to sit-down restaurants, the best of customer-service intentions can easily go awry. So how do you prevent crossing the line from attentive to intrusive?

"Customers like to be acknowledged and treated respectfully, to feel as though their presence is welcomed," the article says. But you also have to acknowledge that "there's a fine line between catering to customers and annoying them, and that line is made even thinner by the fact that what delights one shopper may repel another."

Posted by Lena Anthony on October 31, 2006 02:20 PM

Five years and one day ago, Chuck Call, CEO of Albuquerque-based ICx MesoSystems, could have never guessed how his business would change. In the five years since the terrorist attacks of Sept. 11, the company has sold about 600 of its air-sampling devices, which are capable of sniffing out bioterrosim agents, to federal, state and local agencies, driving up ICx’s sales this year to $7 million.

According to a story in USA Today, the events of 9/11 caused the homeland security business to boom. The industry now accounts for more annual revenue than the movei-making or music industries.

Though corporations have been the big winners of government contracts, small businesses have gained their share of new business as well. In the last fiscal year (which ended in June) small businesses accountd for 33 percent of all contract dollars spent by the U.S. Department of Homeland Security. That exceeds the U.S. Small Business Administration's goal of having 25 percent of all contracts go to small companies.

Posted by Shannon McRae on September 11, 2006 04:25 PM

If you have customers, don't miss the guest columnist's post on the Small Business Trends blog. Author Mary Hunt offers 5 Do's and 5 Don'ts when selling to women small-business owners. Most of the advice is common sense but it's always good to be reminded of basic selling tips.

Hunt urges sellers to protect their "cyber karma" since women use word-of-mouth referrals far more than men. "Email and blogs have upped that communication ante. Make sure they leave your office, phone call or website happy--or at least not ticked," she writes.

She also offers a good piece of advice when selling to any customer (male or female): Don't overlook the power of "thank you."

Posted by Shannon McRae on September 6, 2006 08:07 AM

I'm not someone who quotes movies a lot. But there is one line from "The Shawshank Redemption" that has always stuck with me: "Get busy living or get busy dying"--or something like that.

A recent post by Small Business CEO blogger Steve Rucinski reminds me a lot of that line. As Rucinski points out: Those in business have two alternatives--get better or get worse. "While the thought of status quo might seem comforting," he writes, "status quo is really decay in sheep’s clothing."

A lot of small-business owners (and their employees) are resistant to change. The familiar is safer, easier. But it's not always innovative. "We are on the threshold of an entirely new way of thinking about change. Soon, there will be a generation that will resist the lack of change. Are we ready to manage people who think that way?"

Posted by Shannon McRae on August 23, 2006 09:51 AM

Pete Luetkenhaus, owner of Pete's Drive-In in Wentzville, Missouri, knows the secret ingredient for a long-lasting business: It is loyal customers.

This week, Luetkenhaus was featured in the St. Louis Dispatch for celebrating his 40th year in business. His restaurant, which started out as a root-beer stand and is now known for its country-style breakfasts and fried chicken, has become a landmark off of Highway 61 in Wentzville. Thanks to the patronage of repeat customers, it has managed to stay afloat, despite all the fast-food restaurants down the road.

"It's a gathering place," says Luetkenhaus, who still works six days a week and makes time to chat with locals who frequent the Drive-In.

Want to learn more about building a loyal customer base? Discover what another small-business owner, Scott Kremp of Kremp's Florist in the Philadelphia area, is doing to find and keep customers in our "Simply the Best" feature in the August/September Manual.

Posted by Emily McMackin on August 4, 2006 07:41 AM

Do you have trouble figuring out how to price your products or services? Pricing mystifies many small-business owners, as a recent article in Business Week points out. The mistake many small businesses make is looking to the competition to determine what they should charge, instead of basing their prices on material and labor costs—and the value they provide to customers and clients.

Bad pricing decisions can kill growth and profits, but all many business owners need is a shot of self-confidence to show customers why their offerings are different, says Andy Birol, a financial consultant quoted in the story. Other suggestions include:

•Know the value your customers get from using your products or services and articulate that to them. Explain why the competition can't compare.
•Make sure any materials you buy or time you spend on a meeting or sale reflects in your pricing.
•Hire a knowledgable person who can help you track costs and forecast overhead.

If you're interested in learning more, check out our article, "The High Cost of Low Prices," in the Manual section of our August/September issue.

Posted by Emily McMackin on July 28, 2006 08:22 AM

Dream of having your product mentioned on Oprah? For some small businesses who lived through a mention on Oprah's Favorite Things, the dream becomes a reality--fast. An article on CNNMoney tracks a few to see what their instant success taught them.

Given just five days notice before its product appeared on the show, Pete Seltzer, CEO of Kashwére, anticipated a challenge. But after a Kashwere robe was mentioned on Oprah's Favorite Things, "for six consecutive weeks we could not get a call out, the phones were hammered and we did thousands and thousands of Internet orders."

MyBusiness tackled a similar topic when we found several businesses who'd spent 15 minutes in the spotlight. Read how fame affected their bottomline.

Posted by Shannon McRae on July 26, 2006 12:08 PM

Saying no to the request of a valued customer can be painful but necessary. Today's Tools and Tips column on NFIB.com offers advice from Darby Checketts, speaker and trainer to government agencies and hundreds of companies such as Gulfstream Aerospace, Intel and BlueCross/BlueShield of Arizona.

Checketts has devised a simple three-step process to avoid disappointing your customers by saying "no," as well as preventing the "occasional over-committment of a too hasty 'yes.' "

To let your customer down gently, Checketts suggests using the A-C-T principle:

• A: Acknowledge the customer’s requests and needs. A brief recap of what they asked for or an indicated appreciation of their point of view can buy you time to collect your thoughts, while reassuring customers that you heard them and understand their position.


• C: Ask questions probing the circumstances of customers’ inquiries or requests. “Before giving a knee-jerk answer, make sure you understand the why of what they're asking,” Checketts says.


• T: Tell them what you can do. Checketts notes that even partial solutions are better than a roadblock. They are a vast improvement over an otherwise negative response and indicate your willingness to work toward a mutually agreeable solution.

Posted by Megan Goodchild on May 22, 2006 09:51 AM

If you make a glaring mistake, your customers will most likely tell you immediately. However, some mistakes, while big, may never be brought to your attention--until it's too late.

Today's Tools and Tips column on NFIB.com discusses nine mistakes or negative aspects about your business that your customers will almost never alert you to. For example:

• You patronize me. I don't like the oversimplistic way you describe your product. I feel as if you're talking down to me. Lesson: Always ask your customer whether he or she wants more or less detail.
• I'd buy more if you asked me. I have so many needs, but you don't seem to recognize them. Maybe you offer products that would make my life easier, but I have no way of knowing. Lesson: Instead of simply describing your products to your customers, ask how you can help satisfy their needs.
• You're inconsistent. 90 percent of the time I know you'll do exactly what you promised. But it's the other 10 percent that I'm never sure about. Lesson: Aim for 100 percent consistency. If you're not going to be able to meet the customers' terms, let them know the minute you realize there might be a problem.
• I'm talking to the competition all the time. Face it: It's a dog-eat-dog world out there. I want to save money and time and get the best deal I can, so it's only natural that I keep looking for other suppliers of goods and services. Lesson: Ask your customers to provide regular feedback to you.

Posted by Megan Goodchild on May 18, 2006 01:53 PM

John Mann’s fuel costs have almost doubled in recent months, and the owner of Buffalo, N.Y.-based 1-2-3 Delivery may have to his raise prices to keep up. With 52 delivery vans and three large trucks, Mann, like so many other small-business owners, has been hit hard at the pump.

If you’re worried about absorbing higher fuel costs in your business this summer, it might be time to think about trading in some of your vehicles for cars that get better gas mileage. CNNMoney.com picks the most fuel-efficient cars in five categories. The article also includes easy ways to pinch a few pennies when you’re picking out a new car, like opting for a smaller V-6 engine over a V-8 and passing up the four-wheel or all-wheel drive option.

Posted by Shannon McRae on May 1, 2006 07:16 AM

When a business decides to downsize products or services, the transition period can require additional attention to avoid unhappy customers or lost transactions.

On NFIB.com today, Tamara E. Holmes offers advice on how to make the downsizing process go smoothly for you and your customers. If approached about the discontinuation of a particular product or service, Holmes suggests the following to help keep customers happy and confident in your business:

• Point customers to similar products/services. They might find that the new product or service works just as well for them.


• Don't stop abruptly.If you have regular clients or customers that depend on the product or service, give them time to prepare for the change.


• Offer an explanation for the change. By explaining that the product or service is unprofitable for you, you'll be letting the customer know that you're not just discontinuing it on a whim.


• Help the customer find the product or service elsewhere. While you're technically steering them away from your business, they'll appreciate the service and think highly of you. When they need other products or services that you offer, they'll be likely to remember you then or even recommend you to others.

Posted by Megan Goodchild on April 27, 2006 09:08 AM

"Negotiation is an art," writes Vicki Gerson on NFIB.com today. It can help your business in many ways, but is not an easy skill to master. Gerson encourages practicing your negotiation techniques with a mentor, business associate or friend first, and offers four negotiation styles commonly found in the business world:

1. Arguing the point:This is someone who focuses on logic, shows no emotions during discussions and sticks to rational arguments.


2. Seeing the outcome. Achievers like to control their own destiny; they like to plan their way to success and are willing to work hard to achieve their goals.


3. Hearing a new idea. A motivator focuses on creativity and encourages imagination and out-of-the-box thinking.


4. Grasping the benefit. In order to be successful in your quest, this individual must see the benefit for the company.

Posted by Megan Goodchild on April 18, 2006 08:41 AM