Helping Women Prosper...

How to Write a Business Plan

2011-12-13T08:25:00.000-08:00

By Jeanette Mulvey, BusinessNewsDaily Managing Editor

While it may sound complicated, a business plan is nothing more than an organized outline of your idea of how your business is going to function. And experts agree: you need one.

“A business plan is like a road map,” explained James Jacobs, the retired president of a Dallas-based financial services firm and a SCORE (Service Corps of Retired Executives) advisor. “It’s a road map that helps you identify where you want to go and how to get from point A to point B.”

A business plan should include a variety of pieces and some will be more detailed than others depending on the kind of business you’re running and your reason for writing the business plan.

There are certain pieces of the business plan that are must-haves:

Executive Profiles
Business Summary
Marketing Plan
Income and Expense Projections

There are several resources available to assist you in creating a business plan. Business plan templates abound on the Internet, many for free. SCORE offers a comprehensive, free plan on its web site.

There are also a variety of books on the subject available at the bookstore, library or from your local Small Business Development Center (SBDC).

There are also business plan software programs — starting at round $100 — that will walk you through the process by asking you questions and generating a formal business report. The software is particularly useful for the financial portions of the plan.

“Unless you have a background in finance, that part of the business plan can be most difficult,” said Dolores Stammer, Regional Director of the New Jersey SBDC at Centenary College in Hackettstown, N.J.

Stammer strongly advised that future business owners approach the financial part of the business plan by breaking down their total sales expectations into individual sales.

“Once they see how many of something they need to sell in a week, they often realize their total revenue projection is impossible,” she said.

Knowing why you’re writing your business plan is also important, Stammer said.

“If you’re writing it because you’re going to apply for a loan, then you need to be very specific in the financials,” Stammer told BusinessNewsDaily. “If you’re writing it to keep yourself focused on your goals, then you should be clear about what those goals are.”

Regardless of who will eventually read your business plan, it’s essential that you know it intimately,” Jacobs added. “Be confident. Know your plan inside and out. And, don’t just do it once. You should be reviewing your business’ strengths, weaknesses, opponents and threats [what business strategists call SWOT] once a year

Helping Women Prosper....

3 Big Expenses Your Small Business Can Cut Today

2011-12-12T07:54:00.000-08:00

By Patrick Egan, BusinessNewsDaily Contributor

Money, as they say, does not grow on trees. In business — as in life — it’s a lot easier to save a dollar than to earn one. Here are three big ways you can cut your budget and increase your bottom line.

Marketing—Getting your dollar’s worth

There’s no end to the number of ways you can publicize your business’s name and products. But not all expenditures yield the same return, and small businesses need to recognize that.

“No enterprise is immune to advertising mistakes,” said Dan Weinbach, executive vice president with the Weinbach Group, a marketing and public relations firm based in Miami. “But the impact these mistakes have on smaller organizations is more severe, as their dollars are limited.”

Weinbach recommends that small businesses think twice before spending money on sponsorships, congratulatory ads, one-time mailings and holiday cards.

[For more: 5 Marketing Costs You Should Cut Today]

Payroll costs — Finding the right person

When looking to cut waste, it’s a safe bet to start with your biggest expense: payroll. And the first step to cutting payroll expenses may simply be getting the person with the right skills into the job.

That’s because the cost of filling a position can run anywhere from 20 percent to 150 percent of the job’s salary. Those figures include far more than the cost of some ads and new business cards. Every minute of training and orientation and interviews saps precious time from the business. And that is a price of hiring, said Richard Deems, founder of WorkLife Design, an organizational consulting firm.

Making sure you hire the right person for the job will ultimately save you money.

“We hear all the time, ‘I’m not attracting the people that I want,’” Deems told BusinessNewsDaily. “Words are crucial to getting the right people,” he added, explaining that help wanted ads too often don’t get the job done.

Crafting an effective ad seems pretty simple, according to Deems’ business partner and wife, Sandra Deems.

“What do I want to get off my desk and onto someone else’s?” Sandra recommends using bullet points, not prose, to make sure you’re clear.

Once you’ve got quality people in-house, you have to pay attention to worker retention. While all workers appreciate a fatter paycheck, the real challenge is keeping your employees motivated.

Benefits — Attracting better employees

Offering benefits will help you attract better employees. However, you should be prudent about how you spend your benefits dollars.

“When businesses boom, they spend a lot of money on perks,” said Janet Boulter, founder of the Center Consulting Group. “They think that’s what they need to do to retain employees.” But she says that’s not true.

The biggest, and most delicate, employee benefit is health insurance. Boulter suggests transparency in discussing the subject with employees. Tell them exactly how much it costs.

“Employees get this perception that businesses can afford it. They believe it’s an entitlement,” Boulter said. By letting employees know the costs and having some input on what’s important, businesses can save money by tailoring their insurance to the needs of their employees.

Done properly, a conservative approach to benefits can save money today and help avoid layoffs when times get tough. It is also important to make sure you apply for for the health insurance tax credits mandated with health care reform. The credits begin in 2011.

5 Ways to Grow Your Business (On a Budget)

2011-12-06T08:49:00.001-08:00

Credit: Dreamstime.com

Now that your company is up and running, it's time to expand. Growth is every business owner's goal, but expanding your business is not always easy. Luckily, building your business doesn't necessarily have to break your budget.

According to Steve Smith, business coach at GrowthSource Consulting, growth starts with a discovery process.

"Sit down and look at the three primary areas where growth will occur. There are a lot of things you can do on a one-time basis, but before they can work, you need to ask yourself what you want this business to be. Have a vision that's real," Smith said.

Here are five ways to grow your business – inexpensively.

Give something away. — No matter what kind of business you're operating, take a look at your competitors and see how you are unique. Jessica Swanson, founder of Shoestring Marketing, encourages small business owners to tap into your unique selling propositions.

"It's very important that you begin to grow an email list, so offer an incentive. If you sign up, you get a freebie. That way, you also give readers information about what your company is all about," Swanson said.

Giving away a freebie, even from your website, is a great way to reach out to prospects.

"If you're not marketing-savvy, your best bet is to make sure the freebie is of interest to your prospects. Then, you can also upsell inside of that freebie by offering related items," Swanson said.

Get smart about your online presence. — It's time to take a serious look at your business website. Laura Posey, small business growth expert at Dancing Elephants Achievement Group, encourages small business to go beyond a basic page.

"It's not enough in today's market to be lazy about your website. You need a way for people to bring their business to you," Posey said.

Posey encourages business owners to entice their site visitors with a call to action.

"Whether visitors can purchase online, download something or contact you, it's important that every page on the website has an action to take," Posey said.

Consider a joint venture partnership. — Once you've established the ideal client you want to go after, the next thing to do is find other business that are trying to serve the same end user.

"First, you'll have a partner to share your marketing costs with. If you can find two or three partners, you have expanded your network for prospects," Smith said.

Looking for a collaborative relationship will also help you hone in on your niche market.

"As you expand your network, figure out your niche and market to that. Make sure that your message is consistent and is going to people who need it," Smith said.

Reach out to your target market. — Social media is a huge component of marketing, but what about the basics? According to Jim Hunter, founder of Foursight Consulting, you can spend a lot of time on social media and not get the results that you need.

"Most people rely on passive word of mouth — hoping that the message will get across. Small business owners need to be proactive by getting out and meeting prospects, learning about them and creating relationships," Hunter said.

Hunter recommends going to places where your target market is, such as conferences or networking events.

"The only reason to go out and market is to get a return. Get clear on who is most likely to buy from you right now," Hunter said.

For example, Hunter worked with an insurance agent that was trying to reach a minority group. He researched the neighborhood, purchased inexpensive door hangers and hired high school students to leave the hangers.

"That's how he launched into his target market. Now, he's very successful in that area," Hunter said.

Ask for referrals. — Set up an incentive program to offer current customers a reward, cash or gift for any customer they can refer.

"Offer the program in a postcard or direct mail piece, a flyer that is handed to the customer when they make a purchase, as a link on your website, or in your invoices," Hunter said.

This is a positive cash flow way of investing in that no money is spent on marketing until the customer is sold and a sale is created.

"It's a great way to grow if you have existing customers," Hunter said.

By Jennifer Vishnevsky, BusinessNewsDaily Contributor

5 Mistakes Female Business Owners Make

2011-12-05T09:47:00.001-08:00

Female business owners have a lot going for them. For one, women are starting new businesses one-and-half times faster than men. They are also leaders in using their businesses to give back to the community. Still, there are many unique challenges to running a business and some key pitfalls female business owners, especially, should avoid.

Sales specialist Julie Steelman has some advice on how women can avoid these common mistakes. She is author of a new book, "The Effortless Yes: Get the Sales You Want and Make All You'll Ever Need" (Franklin-Green Publishing, 2011), which features a seven-step approach to help sales-averse entrepreneurs to learn a new way of selling.

Steelman shares her solutions to the top five business mistakes women make.

Mistake 1: Running your business impulsively
It's great to have heart, intuition and creativity. But those don't necessarily lead to profit and profit growth. If you're averse to numbers, think of your financial statement as a garden. Your money needs care, watering, weeding, fertilizing and pruning. Don't avoid looking at your sales numbers or how much you've spent. Money is the life force of your business. Tend to it.

Mistake 2: Setting prices too low
Some female owners set their prices according to what they think their customers will pay — and then resent them for paying too little. Instead, come up with a price that takes into account the percentage you want to make on each sale, how much your costs are, "invisibles" such as the things you do above and beyond the call of duty for customers, and how much your competitors are charging. Consider whether you'll focus on volume selling or selling less at a higher price. Find a price that feels right to you, one that you can broadcast with 100 percent confidence.

Mistake 3: Avoiding sales and selling
Here's something many female owners don't know: Women are natural-born salespeople. Being a masterful salesperson requires many of the traits women possess innately, such as great communication, a strong conscience, and the desire to serve. It's time to rethink selling, because you can't run a successful company if you don't have robust and growing sales. Think of selling as a conversation. Be enthusiastic and genuine. Share stories about how you and others were transformed by using your products and services. Help your customers solve a problem.

Mistake 4: Underutilizing social media
Do your eyes glaze over when you hear the phrase social media? Change the way you think about it. Think of social media as a way to help others and provide value to your customers and potential customers. If you post blogs, videos and podcasts, that's fine. But those one-way communiqués don't start conversations. Instead, host interactive events, chats and conversations that engage your customers and serve their needs. If you're a social media novice, it's time to learn how to really take advantage of it and hire someone to help you do it.

Mistake 5: Getting by instead of getting ahead
When you start using some of the smart tools that the big boys of business use, you'll find all the money you'll ever need. Female business owners sometimes feel that making payroll and earning a small profit is good enough. You deserve much more, and you can get there by mapping out a plan for this year that increases last year's revenue by 25 percent. Figure out how many sales you need in each month, taking natural fluctuations into account. For low sales months, plan promotions that will help you meet your sales quota for that month. Having the goal of increasing your business by 25 percent each year will change the way you feel about yourself and your business.

By BusinessNewsDaily Staff

5 Things You Should Do Now to Ride Out the Recession

2011-12-01T10:35:00.001-08:00

Credit: Brett Critchley | Dreamstime.com

The latest developments in the economy are enough to make anyone nervous. For a small-business owner, the uncertainty can keep you up all night. You can't control Wall Street's roller coaster ride, but there are some things you can do to ride out this latest wave of economic turbulence.

Malcolm McRoberts, senior vice president of small-business services at Deluxe, has some advice for small-business owners. Deluxe is a company that provides small-business services and products such as Web design, Web hosting, and forms and checks. Here are five tips from McRoberts:

Rise above the negativity. Many argue that Standard & Poor's recent downgrade of the nation's credit rating was politically driven rather than based on the country's inability to manage debt. Some argue the U.S. economy has been growing slowly and consumer spending habits are steadily rising. Now is a good time to revisit your company's business plan and have an open discussion with customers and employees on next steps for the remainder of the year.

Turn to current customers. Now is the time to focus on your current customer base, its needs and what has worked in the past. Consider revisiting or instituting a customer rewards campaign or a referral program offering discounts on future products or services.

Focus on affordable marketing. Small-business owners do not need to spend a fortune on marketing. For less than $5,000, you can refine your search engine marketing (SEM), redesign your online ads to better showcase your company's products, design a new logo and more.

Hold off on hiring. Given the unpredictable economic climate, it's probably best to hold off on any major staffing increases unless your revenue truly warrants it.

Examine your cash flow and find a financial adviser. Talk to your accountant or bookkeeper and come up with a plan in the event of a dramatic dip in sales. Investigate loan options now, just in case you need one. Find an experienced business mentor, someone who is a third party, who is able to offer you financial advice.

Deluxe is currently running a contest called Project REV 2012 in which small-business owners and entrepreneurs can enter to win $15,000 in Deluxe marketing products and services.

5 Ways to Grow Your Business During the Recession

2011-11-28T07:15:00.001-08:00

Credit: Dreamstime.com

While most companies are focused on surviving the recession, smart companies are making efforts to grow during the recession.

Thor Harris, small business wealth expert and president of Percepture, a marketing, branding and strategic media relations company, gives BusinessNewsDaily readers advice on how to expand your business while others around you are floundering.

Expand your sphere of influence. Networking is key. Set a goal of attending an outside event where you can make new business contacts two nights a week. Do not attend industry-focused networking events. There are too many similar people looking for the same potential clients at these kinds of events.

Cut the fat out of your current budget. Look at everything you can trim that is nonessential and reevaluate your entire budget.

Tap in to your attorneys and accountants for business referrals. Remind your contacts that you will give them a percent of any new business they throw your way. Same with your current clients, ask them for recommendations and referrals.

Use social media tools. LinkedIn is an excellent way to tap into new prospects, but most people don't use it or know how to. Learn how to use LinkedIn.

Take a break. Running your own business is hard. Take one full day off a week and turn everything off. Recharging your personal batteries is a must.

Harris has managed public relations and innovative marketing programs for some of the world's largest companies and best-known brands — including Daimler-Chrysler, Sony, Foot Locker, The Islands Of The Bahamas, Ingersoll Rand, Konica Minolta, Century 21 and ChevronTexaco. He sits on the Board Member of the American Red Cross, Business Marketing Association, and the New Jersey Entrepreneur Network and is a member of the NJ Technology Council and the American Chemical Society.

By BusinessNewsDaily Staff

Small Business Matters

2011-11-15T08:20:00.001-08:00

Do you have the mindset to be an entrepreneur? Many of our veterans do.

In fact, of the 24 million military veterans in the U.S, four million are small business owners.

Moreover, statistics show that the success rate of these veteran-owned businesses is higher than other startups - perhaps a reflection of the discipline, skills, and leadership experience acquired in military service.

Providing further help, there are a number of tools and services from the SBA, VetBiz and other non-profit organizations specifically designed to help veterans with the formation and expansion of their business ventures.

This following list summarizes some of the general business guides, financing options, incentives, and other resources available to help veteran-owned businesses succeed.

Getting General Business Advice

If you are a current or prospective veteran business owner, familiarize yourself with the SBA’s Office of Veterans Business Development (OVBD) Web site - here you can find assistance, outreach and support for veterans interested in starting or expanding a small business.

Financing for the Veteran-Owned Small Business

In the past 20 months, the SBA approved more than $250 million in loan guarantees to more than 2,800 veterans and their spouses.

Much of this funding comes from the SBA’s Patriot Express Pilot Loan. Launched in June 2007, the program is a streamlined loan product based on the agency’s SBA Express Program, but enhanced with guaranty and interest rate characteristics.

Loans are available up to $500,000 and qualify for SBA’s maximum guaranty of up to 85 percent for loans of $150,000 or less, and up to 75 percent for loans over $150,000 (up to $500,000).
The loan can be used for business purposes, including start-up, expansion, equipment purchases, working capital, inventory or business-related real estate purchases.

For more information about the loan, qualification criteria, and how to get started visit the Patriot Express home page here.

For information about other available loans from the federal government as well as programs in your state, use this government-developed Loans and Grants Search Tool.

Franchising Incentives for Veteran Entrepreneurs

If you want to be your own boss but are wary of the startup risks, buying a franchise offers an appealing alternative.

For veterans considering buying a franchise there are also added incentives. The VetFran program, started by the International Franchise Association, provides financial incentives to veteran franchise buyers that are not available to civilian franchise investors. Some of the 200 participating franchisors waive training fees, others discount franchise fees, but all agree to offer incentives for veterans.

A current list of participating companies and the discounts these franchise systems offer is available on this Web site, www.franchise.org, under 'VetFran Directory.'

If you like the idea of a franchise, make sure to do your research first. This guide provides helpful advice on buying and evaluating a franchise and also includes information on how to avoid common scams.

For more click here

The big push for small business is jobs

2011-11-14T10:34:00.001-08:00

The SBA's chief lays out the steps Washington is taking to create jobs on Main Street.

FORTUNE -- Small Business Administrator Karen Mills' Washington D.C. office overlooks a railroad where trains whiz by hauling freight. It's a reminder, she says, that American industry is still working. These days we could use that reminder. American manufacturing is in the tank, and small business lending -- a much-cited economic driver -- fell again in the second quarter, on the heels of a lackluster five years. On the upside, loans backed by the Small Business Administration are on the rise, with banks breaking records in SBA lending last year. Mills sat down recently with Fortune's Anne VanderMey to talk about what her office is doing to give small business a leg-up and help bring American unemployment back down to earth. Edited excerpts:

Q. What are the SBA's big projects right now?

A. Well, the big push is jobs. As you probably know, half of the people who work in this country work for small businesses. And it's more than that, because two out of every three net new jobs come from small business. So we mean it when we talk about small business being the engine for the economy. We are focused, and have been from day one, on making sure that these small businesses have the tools that they need.

What can the government to do drive that job creation?

It's not government that creates jobs; it's small business. Our job is to make sure they have the access to capital, the access to contracting opportunities, and the help, advice and mentoring that they need to go out and be successful.

So we're providing capital, we're providing mentorship, and we're doing it in conjunction with existing infrastructure that is out there instead of reinventing the wheel. We're working with big companies like IBM (IBM) and GE (GE) to find ways to help small business thrive as part of their supply chains. We're also developing public-private partnerships like Startup America, which Steve Case is leading, that provide mentors for entrepreneurs.

We've streamlined the website, boosted our venture capital-style small business investment fund, cut in half the time it takes for small businesses on a government contract to get paid, and cut the licensing time for a loan down from 18 months to less than six. We also just closed a record year in SBA lending -- $30 billion. In October 2008, the credit markets just froze, and small businesses were telling me, "I need a loan to save my businesses." We stepped in with the Recovery Act and raised our loan guarantees to 90%. That was exactly the right medicine, because our loan volume came rushing back. We were also able to bring back about 1,200 banks that hadn't made a loan since 2007. So now you had more businesses with more local points of access. They could walk in and say, "Well, if you don't want to just give me a loan, how about a loan with an SBA guarantee?" With the passage of the Small Business Jobs Act, we're continuing these 90% guarantees that have led us to a record quarter. This really is the best year ever in SBA history.

But loan volume for the smallest businesses, the ones asking for loans less than $150,000, actually fell 13% in the last two years. Is that a concern?

Exactly right. Our loan buying has been at record levels, but there are still gaps. One of the gaps is in the smallest loans and in the underserved communities. So we saw this about a year ago and we launched two important programs, Small Loan Advantage and the other is called Community Advantage. The objectives of both are to open up points of access and streamline the paperwork, without increasing the risk. We wanted to make small loans easier for the banks, where bigger loans can be more cost-efficient.

We've also opened up our flagship 7(a) lending program to community development financial institutions. Those lenders operate right there in the community and these are the people who know who's the great entrepreneur -- the one who we really should back, even if it doesn't look on paper like a traditional loan. That expanded access is going to provide more opportunity for these smaller businesses in these more underserved communities.

For more click here.

My Grand Experiment: Turning Off AdWords

2011-11-10T10:47:00.000-08:00

By PAUL DOWNS
Monday, October 24, 9:36 a.m.: As I explained in my last post, I recently found myself with a surprising new problem: all the work we can handle. Because our backlog of orders is as high as I want it to be, I decided to take the opportunity to run an experiment: What would happen if I stopped running Google AdWords?

I have been spending $500 per day on sponsored search, and I believe the results have been well worth the money: $1.8 million in sales as of this morning. But I also believe this is a rare opportunity to see whether AdWords is doing the heavy lifting in our marketing or whether our search engine optimization efforts are yielding results as well.

In January, I started keeping track of the number of inquiries we get each day. The most we have received in a single day has been seven, which has happened three times. There have been 11 days when we received no inquiries. The daily average is 2.65. The weekly number has ranged from eight to 22, with an average of 13.5. So far this year, we have had a total of 569 inquiries.

My own prediction is that our number of inquiries will fall below average, and I would be surprised if it’s not a significant drop. If the number remains close to the average, it would imply that I could be spending a lot less on AdWords than I am now (here’s a previous post I wrote about my experiences with AdWords). I can’t tell you how many times I’ve heard from so-called S.E.O. experts that there is no need to pay for traffic, that I could just run a good S.E.O. campaign and the inquiries would come for free. The experts imply that people tend to ignore the paid links at the top of the page, in favor of the free links further down. I am deeply, deeply skeptical about this. And that’s why I’m running the test, starting today.

2:41 p.m.: We get a call from a furniture dealer in Tampa who is looking for a table with a logo. He says he was told to call us by a client who went to Google to look for tables with logos. He couldn’t remember whether the client had searched this week or not. Out of curiosity, I checked the search string “logo conference table.” We are the fourth and fifth free listings. Nos. 1 and 2 are competitors, and the third is an irrelevant result. Score one for S.E.O.

5:30 p.m. No other calls today.

Total for Monday: one inquiry.

Tuesday, October 25, 8:45 a.m.: I find an e-mail from a potential client who submitted our Request For Info form through the Web site at 8:35 the previous evening. He’s looking for a 12-foot square conference table. I search Google for “square conference table” (using Safari) to see where we land, and our “square and u-shaped tables” page is the eighth free listing on the first page of results. I’m loving the preview feature that Google has added to its results pages — to the right of each result is a gray arrow. Roll your mouse over it, and you see the whole page that the link points to. It’s a fast way to see what you are getting into before you click a link.

My salesman, Don, follows up with the potential client by e-mail. It turns out it’s a monastery where the monks have taken a vow of silence; the client requests that we not communicate by phone. Also in my in box this morning is an e-mail from a guy who wants me to convert a walnut tree in his backyard into a dining set. This most likely came through our old Web site, which listed lots of dining furniture. I send him an e-mail with a link to a lumber dealer who can evaluate the condition of the tree for him and give him the news that it takes several years to process the lumber before anything can be made from it.

5:30: No more calls or e-mails, and it’s time to go home.

Total for Tuesday: two inquiries. Week to date: three.

Wednesday, October 26, 9:39 a.m.: Incoming phone call from a local seminary. (Hmmm. The second inquiry this week from a religious organization.) The seminary is looking for a U-shaped table. The caller says he searched Google and found our site. I tried a search for “u shaped conference table” (using Chrome) and found that we were the top free listing.

5:30: No other action. Calling it a day.

Total for Wednesday: one inquiry. Week to date: four.

Thursday, October 27, 3:56 p.m.: An e-mail arrives from a possible client. I call her and learn that she searched “conference tables,” which returned a bunch of cheap-looking stuff she didn’t like. Seeing the suggested search string listing at the bottom of the page, she clicked on “custom conference tables” and found us. We are the top free listing for that search. When I first designed the new site, I imagined that “custom conference tables” would be a very heavily searched phrase, but our search stats reveal that “boardroom tables” gets more than 100 times as much traffic. I have since added a landing page to the site that specifically shows boardroom tables. This shows up near the top of the second page of free results. We do extremely well with “custom boardroom tables” — it’s the first free result — but unfortunately it gets less than 1 percent of the traffic that “boardroom tables” gets.

Total for Thursday: one inquiry. Week to date: five.

For more information go here

Search for Business Licenses and Permits

2011-10-31T07:51:00.000-07:00

Every business needs one or more federal, state or local licenses or permits to operate. Licenses can range from a basic operating license to very specific permits.
Regulations vary by industry, state and locality, so it's very important to understand the licensing rules where your business is located. Not complying with licensing and permitting regulations can lead to expensive fines and put your business at serious risk.
How to Get Licenses and Permits
SBA.gov's Business Licenses and Permits Search Tool allows you to get a listing of federal, state and local permits, licenses, and registrations you'll need to run a business.
In the search box below, type in the location of your business, and choose from a list of common small business types. Click "Search" and you'll get a results page showing federal, state and local licenses you'll need along with links to web pages, application forms and instructions. For local permits, links to local government websites and contact information are provided.
If your type of business is not listed, select "General Licensing" and follow the links to your state and local licensing agencies to find licensing requirements for your specific businesses.
For more information go to SBA

Developing a Marketing Plan

2011-10-27T10:23:00.001-07:00

Marketing takes time, money, and lots of preparation. One of the best ways to prepare yourself is to develop a solid marketing plan. A strong marketing plan will ensure you’re not only sticking to your schedule, but that you’re spending your marketing funds wisely and appropriately.

What can a Marketing Plan do for Your Small Business?

A marketing plan includes everything from understanding your target market and your competitive position in that market, to how you intend to reach that market (your tactics) and differentiate yourself from your competition in order to make a sale.

Your small business marketing budget should be a component of your marketing plan. Essentially, it will outline the costs of how you are going to achieve your marketing goals within a certain timeframe.

If you don't have the funds to hire a marketing firm or even staff a position in-house, there are resources available to guide you through the process of writing a marketing plan and developing a market budget.

Bend Your Budget When Necessary and Keep an Eye on ROI

Once you have developed your marketing budget, it doesn’t mean that it’s set in stone. There may be times when you need to throw in another unplanned marketing tactic -- such as hosting an event or creating a newspaper ad -- to help you reach your market more effectively.

Ultimately, it’s more important to determine whether sticking to your budget is helping you achieve your marketing goals and bringing you a return on investment (ROI) than to adhere to a rigid and fixed budget.

That's why it's important to include a plan for measuring your spend. Consider what impact certain marketing activities have had on your revenues during a fixed period, such as a business quarter, compared to another time period when you focused your efforts on other tactics. Consider the tactics that worked as well as those that didn’t work. You don't have to cut the tactics that didn't work, but you should assess whether you need to give them more time to work or whether the funds are best redirected elsewhere.

Granted, some tactics are hard to measure -- such as the efficacy of print collateral (brochures, sales sheets, etc.), but you need to consider the impact of not having these branding staples in your market tool kit before you reign in your graphic design and print funds.

Marketing plans should be maintained on an annual basis, at a minimum. But if you launch a new product or service, take time to revisit your original plan or develop a separate campaign plan that you can add to your main plan as an addendum.

At the end of the day, the time spent developing your marketing plan, is time well spent because it defines how you connect with your customers. And that's an investment worth making.

Making Your Website Mobile Friendly

2011-10-17T10:39:00.000-07:00

As more consumers use their smartphones and other mobile devices to search for places to eat and shop, small businesses without a mobile version of their website could be losing potential customers and revenue.

Just having a website isn’t enough, said Alex Kutsishin, chief executive of FiddleFly, which helps companies tweak their websites for the mobile Internet. “Searching a website that’s not optimized for mobile is like having to stop and pull out cash in the E-ZPass line,” said Kutsishin. “It’s all about convenience right now.”

According to a mobile Internet report issued by Morgan Stanley, more users will connect to the Internet from mobile devices than desktop PCs within five years. As the popularity of mobile search continues to grow, Kutsishin predicts Internet search providers like Google (GOOG: 579.28, -12.40, -2.10%) and Yahoo (YHOO: 15.79, -0.12, -0.75%) will rank websites without a mobile site lower in search queries. The search engines are going to “make sure they feed customers the most credible information on the most convenient platform, which is why being mobile is important,” says Kutsishin.

Because they are viewed on much smaller screens, mobile websites need to designed specifically for use with the “mobile thumb.” That means people need to be able to reach any part of the mobile website with their thumb while holding the phone in one hand.

“A sign that it’s a good mobile site is if you don’t have to turn the phone sideways or zoom in,” said Kutsishin. He also advised the buttons on a mobile site be bigger, the fonts larger and zooming shouldn’t be necessary to click on a link or feature. The site also has to be quick to upload information, images and videos—users need to be able to find the most important information as fast as possible.

Read more

If you need some help with your website we can help you.

Small Business Innovation Research Program

2011-10-03T07:30:00.000-07:00

SBIR is a highly competitive program that encourages small business to explore their technological potential and provides the incentive to profit from its commercialization. By including qualified small businesses in the nation's R&D arena, high-tech innovation is stimulated and the United States gains entrepreneurial spirit as it meets its specific research and development needs.

Competitive Opportunity for Small Business:

SBIR targets the entrepreneurial sector because that is where most innovation and innovators thrive. However, the risk and expense of conducting serious R&D efforts are often beyond the means of many small businesses. By reserving a specific percentage of federal R&D funds for small business, SBIR protects the small business and enables it to compete on the same level as larger businesses. SBIR funds the critical startup and development stages and it encourages the commercialization of the technology, product, or service, which, in turn, stimulates the U.S. economy.

Since its enactment in 1982, as part of the Small Business Innovation Development Act, SBIR has helped thousands of small businesses to compete for federal research and development awards. Their contributions have enhanced the nation's defense, protected our environment, advanced health care, and improved our ability to manage information and manipulate data.

SBIR Qualifications:

Small businesses must meet certain eligibility criteria to participate in the SBIR program.

American-owned and independently operated
For-profit
Principal researcher employed by business
Company size limited to 500 employees

The SBIR System:

Each year, eleven federal departments and agencies are required by SBIR to reserve a portion of their R&D funds for award to small business.

Department of Agriculture
Department of Commerce
Department of Defense
Department of Education
Department of Energy
Department of Health and Human Services
Department of Homeland Security
Department of Transportation
Environmental Protection Agency
National Aeronautics and Space Administration
National Science Foundation

These agencies designate R&D topics and accept proposals.

Three-Phase Program:

Following submission of proposals, agencies make SBIR awards based on small business qualification, degree of innovation, technical merit, and future market potential. Small businesses that receive awards then begin a three-phase program.

Phase I is the startup phase. Awards of up to $100,000 for approximately 6 months support exploration of the technical merit or feasibility of an idea or technology.
Phase II awards of up to $750,000, for as many as 2 years, expand Phase I results. During this time, the R&D work is performed and the developer evaluates commercialization potential. Only Phase I award winners are considered for Phase II.
Phase III is the period during which Phase II innovation moves from the laboratory into the marketplace. No SBIR funds support this phase. The small business must find funding in the private sector or other non-SBIR federal agency funding.

SBA Role:

The US Small Business Administration plays an important role as the coordinating agency for the SBIR program. It directs the 11 agencies' implementation of SBIR, reviews their progress, and reports annually to Congress on its operation. SBA is also the information link to SBIR. SBA collects solicitation information from all participating agencies and publishes it quarterly in a Pre-Solicitation Announcement (PSA). The PSA is a single source for the topics and anticipated release and closing dates for each agency's solicitations.

For more information go to www.sba.gov

2011-09-29T13:29:00.000-07:00

Untapped Potential for Expanding Women's
Entrepreneurship Holds Promise to Grow the U.S. Economy

Jobs and economic escalation will follow as more women break through
"glass walls" to start high-growth ventures

Women who are capable of starting growth companies that serve global markets may be the nation's secret weapon for achieving sustained economic growth.

Research shows that startup companies -- particularly high-growth startups -- are the most fruitful source of new U.S. jobs and offer the economy's best hope for recovery. However, despite the fact that about 46 percent of the workforce and more than 50 percent of college students are female, and that women have risen to top positions in corporate and university hierarchies, they represent only about 35 percent of startup business owners. Their firms also tend to experience less growth and prosperity than do firms started by men.

"Overcoming the Gender Gap: Women Entrepreneurs as Economic Drivers," a new paper released today from the Kauffman Foundation, explores the reasons behind lower business startup rates among women and proposes actions that would help to realize the promise of female entrepreneurs in escalating the economy.

Developing a Marketing Plan

2011-09-26T10:57:00.000-07:00

What can a Marketing Plan do for Your Small Business?

Bend Your Budget When Necessary and Keep an Eye on ROI

At the end of the day, the time spent developing your marketing plan, is time well spent because it defines how you connect with your customers. And that's an investment worth making.

For more information go to www.sba.org

Preparing Your Finances

2011-09-21T07:34:00.000-07:00

Before you head to your bank or credit union to apply for a loan, be sure that you understand your situation and your options. What are your startup costs? At what level of revenue will your business break even? And how does SBA assist new businesses when it comes to financing?

Understanding the Basics
Have you thought about how you are going to fund your business? When considering financing options, it’s a good idea to have an understanding of your financing needs as well as the types of options that available to help you start and...

Breakeven Analysis: Know When you can Expect a Profit
Breakeven analysis is a tool used to determine when a business will be able to cover all its expenses and begin to make a profit. For the startup business, it is extremely important to know your startup costs, which provide you with...

For more go to www.sba.gov

Business Law & Regulations

2011-09-17T06:57:00.000-07:00

Do you have to be an attorney to open and run a small business these days? The answer is no (although you shouldn’t hesitate to consult one if you have a sticky legal question). This section helps you with the day-to-day legal issues that could affect your small business.

Industry Laws & Regulations
A variety of laws exist that govern how business is conducted in general, and in specific industries. You should review each topic in this section to acquaint yourself with the laws that pertain to your small business.

Employment & Labor Law
Whether you hire your own employees or independent contractors, you will need to have a solid understanding of federal and state labor laws covering everything from benefits and wages to discrimination and harassment. These...
Handling Legal Concerns
It makes good business sense to know how to handle legal issues that impact your business. Not all legal matters require a lawyer, but they do require understanding. Sometimes the best way to protect yourself and your business is to...
Understanding Fair Practice
While many businesses will do almost anything to gain an edge on the competition, it is important to understand antitrust laws so that you do not risk your business's integrity while gaining customers. Antitrust laws make it...

For more information visit www.sba.gov

Green Marketing

2011-09-14T12:45:00.000-07:00

If you are already competitive in terms of price, quality and performance, adding "green" claims and eco-labels to your marketing strategy may enhance your brand image and secure your market share among the growing number of environmentally concerned consumers.

Start your green marketing campaign by ensuring your green claims are credible. Do this by having your product certified that it was produced in an environmentally sound manner. Once certified, use the eco-labels from the certifying organizations to help consumers make educated choices. The links below can help you learn how to get certified!

Green Your Products

Read the Environmental Protection Agency's (EPA) guide Greening Your Products which describes how to introduce new and improved green products.
Certify your offerings as being "green" products.
Evaluate your product packaging to reduce waste.

Advertising and Eco-Labeling

Regulations for green marketing and advertising.
Add "green" claims and ecolabels to your marketing strategy.
Learn the top six eMarketing tips for marketing to green consumers over the Internet.

Market Research

The following resources will help you get started researching consumer attitudes and behaviors toward green products.

Environmental E-Market Express

Provides current environmental market research data, international trade leads and events.

Talk the Walk

Offers research and statistics on consumers’ attitudes and behaviors in the context of successful green products and sustainable lifestyle marketing strategies.

Green Consumers: A Growing Market for Local Businesses

Explains how local businesses can better serve green consumers.

Green Food Claims

Reports on how self-declared environmental claims have mislead consumers about a food's green credentials.

Understanding Environmental Literacy in America

Provides information on consumers' understanding of environmental issues and the need for further environmental education.

Consumer Reports: Greener Choices

Supplies information on buying greener products that have minimal environmental impact and meet personal needs.

For more information go to www.sba.gov

Running A Business

2011-09-13T08:33:00.000-07:00

Daily Business Operations

A lot of factors contribute to a well-run business, ranging from finances to marketing, sales, human resources, and the technology that you employ to keep your business functioning smoothly. This section includes topics that will help you with day-to-day activities.

Insurance and Preparing
Your Business for an
Emergency

Emergencies and accidents are unavoidable and unwanted circumstances that can grind your productivity to a halt. Be sure that you protect your business from the unexpected.

General Information

This section contains general topics about running your business – things that you might not need to know right now, but spend a few minutes here to see what applies to you today and what might be important in the future.

Building the Corporate Structure
of Your Business

Now you’re ready to get down to the nitty-gritty. After you incorporate your business, you’ll need to choose a location and possibly acquire equipment. And if your business grows beyond what you can handle yourself, you’ll need to hire employees.

Working with the Government

Your business is on a new playing field if you’re positioned to do business with the government, whether at the federal, state or local level. To get started, you’ll need to validate your status as a small business, and ensure that you meet tax obligations.

Eligibility & Size Standards

For more go to www.sba.gov

Financing a Business

2011-09-12T09:30:00.000-07:00

Financing is an integral part to getting your business off the ground and growing it over time. That's why SBA has provided several free online courses to help you become familiar with your financing options, including an introduction to accounting, a guide to SBA’s Loan Guaranty Programs, and an overview on how to prepare a loan package.

Podcasts
SBA business financing podcasts offer expert insight and guidance about your business money matters. Financing podcasts offer advice on topics ranging from traditional loans to grants, bonds and investor-based venture capital.

Online Courses for Financing Your Business
Knowledge about the finances of your business is essential to its success. About These Courses Several free online courses are offered by the SBA to help prospective and existing entrepreneurs understand basic finance and...
SBA Delivering Success: Financing
The U.S. Small Business Administration and the U.S. Postal Service bring you Delivering Success—video interviews with successful entrepreneurs who share the lessons they've learned about owning a small business. The...
SBA Low-Interest Disaster Loans
Following a disaster, the U.S. Small Business Administration (SBA) partners with FEMA to help disaster survivors. The SBA offers low-interest disaster loans to homeowners, renters and businesses of all sizes.

For more information go to www.sba.gov

What are the Small Business Size Standards?

2011-09-08T09:37:00.000-07:00

What are the Small Business Size Standards?

Your business might be eligible for programs that are reserved for small business concerns. To qualify, your business must satisfy SBA's definition of a business concern, along with the size standards for small business.

SBA defines a business concern as one that is organized for profit; has a place of business in the U.S.; operates primarily within the U.S. or makes a significant contribution to the U.S. economy through payment of taxes or use of American products, materials or labor; is independently owned and operated; and is not dominant in its field on a national basis. The business may be a sole proprietorship, partnership, corporation or any other legal form.

SBA has established numerical definitions, or "size standards," for all for-profit industries. Size standards represent the largest size that a business (including its subsidiaries and affiliates) may be to remain classified as a small business concern. These size standards apply to SBA’s financial assistance and to its other programs, as well as to Federal government procurement programs when there is a benefit available to qualifying as a small business concern. Also, the Small Business Act states that unless specifically authorized by statute, no federal department or agency may prescribe a size standard for categorizing a business concern as a small business concern, unless such proposed size standard meets certain criteria and is approved by the Administrator of SBA.

Based on the analyses of relevant industry, program and other factors, SBA’s Size Standards Division makes recommendations to the Administrator for developing or revising size standards. The Small Business Act authorizes the SBA’s Administrator to establish small business size standards. In general, SBA, for each industry, examines the following primary factors in developing or revising the size standard.

Industry structure
Federal procurement – small business share in federal contracts SBA also considers the following secondary factors
Technological change
Competing products from other industries
Industry growth trends
History of the activity in the industry
Impacts on SBA programs

SBA also considers public comments on proposed rules before issuing any final rule.

You can find size standards for your business, and information on how SBA establishes, reviews and modifies its small business size standards in accordance with the Small Business Act and related legislative guidelines at the following resources.

for more go to http://www.sba.gov/content/what-are-small-business-size-standards

Conducting Market Research

2011-08-18T08:52:00.000-07:00

To run a successful business, you need to learn all about your existing and potential customers, your competitors and the economic conditions of your marketplace. Market research is the process of gathering and analyzing consumer and economic data to help you understand which products and services your customers want, and how to differentiate your business from your competitors.

Market research can also provide valuable insight to help you to:

Reduce business risks
Spot current and upcoming problems in the current market
Identify sales opportunities
Develop plans of action

How to Conduct Market Research

It's often difficult to know where to begin when making decisions about a business. A little planning can go a long way, so your first step should be to learn more about how to conduct market research. This article from AllBusiness.com provides basic information on how to conduct market research as well as related articles that can be helpful for you you to make informed decisions about starting, growing and managing your business.

Market Research Basics

Sources for Market Research Data

The federal government collects a wealth of data and information about businesses, industries and economic conditions that can aid in conducting market research. The following sources for market data can provide starting points for learning more about your customers and competitors.

Business Data and Statistics

These statistical sources are often used for secondary market research. Secondary research is the most widely used method of collecting data and involves summarizing or synthesizing existing research from sources such as books, magazine articles, white papers, websites, etc.

International Markets

Are you interested in taking your business global? These resources will help you to research potential international markets for your products or services.

Market Research Guide for Exporters
Identifies resources for business owners seeking to sell their products abroad.
Country Market Research
Reports on trade issues in countries across the globe.
BuyUSA.gov
Helps U.S. companies find new international business partners in worldwide markets.

Green Business Markets

Being "green" isn't just a good business practice. It's a multi-billion dollar industry. These resources will help you learn about marketing to environmentally-conscious consumers.

Environmental E-Market Express
Provides current environmental market research data, international trade leads and events.
Talk the Walk
Offers research and statistics on consumers' attitudes and behaviors in the context of successful green products and sustainable lifestyle marketing strategies.
Green Consumers: A Growing Market for Local Businesses
Explains how local businesses can better serve environmentally-conscious consumers.
Green Food Claims
Reports on how self-declared environmental claims can mislead consumers about a food's green credentials.
Understanding Environmental Literacy in America
Gives information on consumers' understanding of environmental issues and the need for further environmental education.
Consumer Reports: Greener Choices
Provides information on buying greener products that have minimal environmental impact and also meet personal needs.

for more information go to = http://www.sba.gov/content/conducting-market-research

Area nonprofits support minority businesses

2011-08-02T10:05:00.000-07:00

Diversity
Atlanta Business Chronicle - by Martin Sinderman , Contributing Writer
Date: Friday, July 29, 2011, 6:00am EDT

Related: Human Resources

WEDA: Program Director Carolina Ramon says demand for group’s services is up.

Metro-area minority and women-owned enterprises (MWOEs) have a number of resources they can turn to in order to get their businesses up, running and successful.

Originally established in 1992 as the Women’s Entrepreneurial Center of the Metropolitan Atlanta Coalition of 100 Black Women, the Women’s Economic Development Agency (WEDA) is a nonprofit, bilingual (English/Spanish) organization that provides free and low-cost coaching and education to startups, with a focus on low to moderate income women in the 28-county Atlanta metropolitan statistical area.

Since 1996, WEDA has assisted more than 17,000 entrepreneurs in the formation of more than 1,500 small businesses

CREATING A SOCIAL MEDIA MARKETING PLAN

2011-07-14T11:24:00.000-07:00

What is Social Media? Social media refers to websites that allow people and businesses to interact online by sharing news, updates, comments, photos and more. Small businesses are now using social media as a marketing resource-it is a way to communicate personally with customers to increase loyalty and sales for low- or no-cost.

Using Social Media Effectively: In order to make social media marketing effective, you need to commit time to using it, updating it, and keeping your followers interested.Don't take on more than you can handle, and make sure you have reliable internet access to use the different tools that are available. Then, follow our guide to make your social media efforts a win for you and your business.

If you have 5 minutes a day:
Find your business on online review sites such as Yelp.com, CitySearch.com, orGoogle Places (most businesses are included automatically) and be sure that your location, phone number, hours, and other information is up-to-date. Add photos of your business or products to entice customers who find your profile. Then, start monitoring the reviews that people leave about your business. Encourage your loyal customers to leave a good review for your business on the site. This strategy is important for every small business, as over 70% of customers now use online reviews to make decisions.

If you have 20 minutes a day:

Add Facebook and Twitter to your strategy. Start a Facebook fan page or Twitter account for your company and post about new products, sales and promotions 3-4 times a week. Keep your "friends" interested by offering tips that are relevant to your business industry. For example, a salon could offer a tip on good hair care one day, and provide information about a service or sale the next.
Log-on to your account daily to see if your customers responded to your posts. Be sure to answer all comments and replies, whether they are good (say thanks!) or bad (address their concern). Just like you would in person, listen to what your customers are saying-you can use this information to create a new product or service.

If you have 30 or more minutes a day: Increase your number of online followers with the following strategies:

a. Include links to your Twitter and Facebook profiles in your brochures and other print materials

b. Make a sign promoting your sites and place it in your location

c. If you have an email list or Website, include links there, too!

d. Become friends with potential customers in your target market

e. Become active on blogs that your potential customers may read. For example, a restaurant in Miami might leave comments on blogs about Miami nightlife or dining.

Remember, if you can't commit enough time to manage a social media account, it's best not to open one. Potential or current clients can get discouraged when they find your business profile, only to find outdated information.

Get Started Now!

Looking For a Small Business Loan?

2011-07-13T10:08:00.000-07:00

ACCION USA IS A TRUSTED LEADER IN SMALL BUSINESS LENDING

ACCION USA is a microfinance organization that offers small business loans up to $50,000 and credit and business advice to small business owners who cannot access traditional credit. Whether you own a home based business, a retail store, or you're looking for a small business startup loan, ACCION USA is here to help.

SMALL BUSINESS LOANS UP TO $50,000

ACCION USA puts affordable business within your reach. And, with ACCION USA'scompetitive interest rates and no fee to apply, there's never been a better time to get a small business loan.

Learn more about our small business loans

FINANCIAL AND BUSINESS ADVICE

Looking to learn more about building good financial habits and business management techniques? ACCION USA can help. Our online resources and workshops make it easy to learn at home or in your community.

Financial Education Resources
Find a workshop near you
Search our library of useful Financial Tip Articles
Click here ACCION USA

Thinking About Starting a Business?

2011-07-09T09:23:00.000-07:00

Thinking About Starting
If you’re thinking about starting a small business, you should start by weighing the pros and cons, so that you can make a wise decision. The resources in this section are essentially a toolkit to guide your decision-making process.

Follow These Steps to Starting a Business
Starting a business involves planning, making key financial decisions and completing a series of legal activities. These 10 easy steps can help you plan, prepare and manage your business. Click on the links to learn more.

Step 1: Templates for Writing a Business Plan
Use these tools and resources to create a business plan. This written guide will help you map out how you will start and run your business successfully.

Step 2: Get Business Assistance and Training
Take advantage of free training and counseling services, from preparing a business plan and securing financing, to expanding or relocating a business.

Step 3: Choose a Business Location
Get advice on how to select a customer-friendly location and comply with zoning laws.

Step 4: Finance Your Business
Find government backed loans, venture capital and research grants to help you get started.

Step 5: Determine the Legal Structure of Your Business
Decide which form of ownership is best for you: sole proprietorship, partnership, Limited Liability Company (LLC), corporation, S corporation, nonprofit or cooperative.

Step 6: Register a Business Name ("Doing Business As")
Register your business name with your state government.

Step 7: Get a Tax Identification Number
Learn which tax identification number you'll need to obtain from the IRS and your state revenue agency.

Step 8: Register for State and Local Taxes
Register with your state to obtain a tax identification number, workers' compensation, unemployment and disability insurance.

Step 9: Obtain Business Licenses and Permits
Get a list of federal, state and local licenses and permits required for your business.

Step 10: Understand Employer Responsibilities
Learn the legal steps you need to take to hire employees.

Startup Resources
There are a number of available programs to assist startups, micro businesses, and underserved or disadvantaged groups. The following resources provide information to help specialized audiences start their own businesses.

http://www.sba.gov/content/follow-these-steps-starting-business

Environmentally-Friendly "Green" Business
Home-Based Business
Online Business
Self Employment
Minority Owned Business
Veteran Owned Business
Woman Owned Business
You can save money when starting or expanding your business by using government surplus. From commercial real estate and cars, to furniture, computers and office equipment, find what you need for your business in one place.
http://www.sba.gov/content/follow-these-steps-starting-business

4 Ways to Use Less Paper at Your Business

2011-06-28T07:22:00.001-07:00

If you look in the trash can or – let’s hope — recycling bins at many businesses, you’ll probably find a ton of paper. Paper is one of the most common waste products at most businesses, and thus one of the biggest sustainability opportunities many small businesses have.
Cutting down on paper waste isn’t as easy as you’d think. For one thing, paper itself is relatively cheap, so business owners might feel like there’s little economic incentive to reduce it. Moreover, it’s hard to change perception that paper use has little environmental impact. But that’s not true: Recycling 1 ton of paper can save 7,000 gallons of water and enough energy to power the average U.S. home for six months, according to the Environmental Protection Agency. Reducing paper use in the first place, then, can save a lot more.
Cutting down on paper waste should be viewed as high priority on your sustainability checklist, just like saving energy or reducing water use. Here are four ways small businesses can cut down on their paper use.

1. Use printers that allow for double-sided printing. You can halve the amount of paper used by printing documents on both sides of paper. Some laser printers offer double-sided or “duplex” printing as a standard feature so you can easily set it up through your computer’s printer option features as the default mode. Others make it more tedious or impossible. Check into this capability before purchasing a new printer.
2. Repurpose used paper into notepads. Despite your best efforts, odds are you still have plenty of paper printed on one side that goes to waste. Collect this paper over time and turn it into small notepads for scratch paper. Many copy shops and office supply stores offer this service for less than a dollar per notepad, or you can bind them yourself by purchasing padding compound.
3. Cut down on junk mail. Junk mail to businesses accounts for a huge amount of needless paper waste. There are several strategies for stopping junk mail from being delivered to a business, which we’ve outlined before.
4. Go “paperless.” More businesses that traditionally rely on lots of paper for transactional purposes are finding ways to greatly reduce it. Some mortgage lenders, for instance, now put loan documents on jump drives and allow for electronic signatures to avoid printing out dozens of pages. Other businesses make PDFs of documents they want to save electronically rather than printing them out.
Of course, you still need paper for various things. So when you do buy paper products for your business, look for paper with a high post-consumer recycled content, such as 60 percent or even 100 percent. This greatly reduces the number of trees cut down, gallons of water used and amount of carbon dioxide emitted to make that paper.

Why is it important to have a (good) website for your business?

2011-06-16T08:02:00.000-07:00

Nowadays it is almost instinctive for any business to create a website. Basically every person that is asked if a business should have one would doubt very little to reply affirmatively. But when asked “Why?” the doubt starts to grow.

It is so simple and so powerful that is hard to imagine why not, but in this humble post we will try to explain why it is not only important to have a website but a good one.

Before the internet was born businesses used strategies to promote themselves like having a big sign on top of the store, advertise on newspapers or TV, mail coupons or fliers, have a nice window display and rely on the happy customers to spread the word about it. This strategies are still being used today but they are moving online.

Having a website for your business is like opening a new virtual office or store. Visitors will come in, look around and eventually convert to customers or leave. It doesn’t matter if you sell shoes or plumbing services. Visitors will come in, and if your website works properly, you will get new customers.
And the beauty is that not only are you opening a virtual office for visitors around you but for a world wide audience. You might have the biggest sign on your town, but from two miles away it is hardly ever seen. You might have the biggest ad on the local paper but no one will call you from out of state. A website can open a business virtually unlimited opportunities.

The value of an internet presence is much more tangible for retail stores since they are opening their doors 24/7 to customers all over the world without much hassle. If your store is in Kentucky you wouldn’t care to ship your products to Bangladesh, there is almost no difference that shipping it to New York. For a small investment your possible customer base is expanded borderless.

So, what will a site provide you? First of all, presence. If you have your website it will be there when someone is looking for your products or services. It will also let you tell the story, it is not just a phone or address in the Yellow Pages but a display of what you want to tell your customers. If they have a warmer feeling about your website they will pick you instead of the competition, the battleground has changed. And lastly, it is a great tool to communicate with your patrons. Not only you can tell your message to them, but you can also hear them back, receive feedback about your work and how to improve it.

With the present status of the internet the communication is not only between you and your customers, but between them. The mouth to mouth marketing has moved to social networks like Facebook and Twitter. If you fix computers and someone was happy about your work they will talk about it and your site can be the hub of that information, and if someone was unhappy you can prevent the word from spreading by just saying sorry.

It is now clear that you must have a website. The quality and functionality of it will depend on your budget and willingness but if it is just a free one with the business description and a phone you are on the right track.

November 20th, by Diego

Microloan Program

2011-06-08T09:42:00.000-07:00

What is a Microloan?

The Microloan Program provides small, short-term loans to small business concerns and certain types of not-for-profit child-care centers. The SBA makes funds available to specially designated intermediary lenders, which are nonprofit community-based organizations with experience in lending as well as management and technical assistance. These intermediaries make loans to eligible borrowers. The maximum loan amount is $50,000, but the average microloan is about $13,000.

How Microloan Funds May Be Used

Microloans may be used for the following purposes:

Working capital
The purchase of inventory or supplies
The purchase of furniture or fixtures
The purchase of machinery or equipment.

Proceeds from a microloan cannot be used to pay existing debts or to purchase real estate.

Technical Assistance

Each intermediary (lender) is required to provide business training and technical assistance to its micro-borrowers. If you apply for microloan financing, you may be required to fulfill training and/or planning requirements before your loan application is considered. This business training can be helpful to you as you launch or expand your small business.

Terms, Interest Rates, and Fees

Loan terms vary according to:

The size of the loan
The planned use of funds
The requirements of the intermediary lender
The needs of the small business borrower

The maximum term allowed for a microloan is six years. Interest rates vary, depending on the intermediary lender and costs to the intermediary from the U.S. Treasury. Generally, these rates will be between 8 and 13 percent.

Collateral

Each intermediary lender has its own lending and credit requirements. Generally, intermediaries require some type of collateral as well as the personal guarantee of the business owner.

Contact Your Local Microloan Intermediary

Small businesses interested in applying for a microloan should contact an intermediary in their area, since all credit decisions are made on the local level. The Microloan Program is available in selected locations in most states. For more information contact your local SBA District Office or review the attached file for a list of participating intermediaries by state.

Tags: SBA Loan Programs

7 Small Business Marketing Tips

2011-06-07T08:09:00.000-07:00

Advertising, Sales and Marketing

1. Don't Advertise Like a Big Business
Big businesses advertise to create name recognition and future sales. A small business can't afford to do that. Instead, design your advertising to produce sales ...now. One way to accomplish this is to always include an offer in your advertising - and an easy way for prospective customers to respond to it.

2. Offer a Cheaper Version
Some prospective customers are not willing to pay the asking price for your product or service. Others are more interested in paying a low price than in getting the best quality. You can avoid losing sales to many of these customers by offering a smaller or stripped down version of your product or service at a lower price.

3. Offer a Premium Version
Not all customers are looking for a cheap price. Many are willing to pay a higher price to get a premium product or service. You can boost your average size sale and your total revenue by offering a more comprehensive product or service ...or by combining several products or services in a special premium package offer for a higher price.

4. Try Some Unusual Marketing Methods
Look for some unconventional marketing methods your competitors are overlooking. You may discover some highly profitable ways to generate sales and avoid competition. For example, print your best small ad on a postcard and mail it to prospects in your targeted market. A small ad on a postcard can drive a high volume of traffic to your website or generate a flood of sales leads for a very small cost.

5. Trim Your Ads
Reduce the size of your ads so you can run more ads for the same cost. You may even be surprised to find that some of your short ads generate a better response than their longer versions.

6. Set up Joint Promotions with Other Small Businesses
Contact some non-competing small businesses serving customers in your market. Offer to publicize their products or services to your customers in exchange for their publicizing your services to their customers. This usually produces a large number of sales for a very low cost.

7. Take Advantage of Your Customers
Your customers already know and trust you. It's easier to get more business from them than to get any business from somebody who never bought from you. Take advantage of this by creating some special deals just for your existing customers ...and announce new products and services to them before you announce them to the general market.

Also, convert your customers into publicity agents for your business. Develop an incentive for them to tell associates and friends about the value of your products or services. An endorsement from them is more effective than any amount of advertising - and it is much cheaper.

Each of these 7 marketing tips provides a simple, low-cost way for any small business to find customers and generate sales quickly.

What Obama’s Budget Means for the S.B.A.

2011-06-06T08:35:00.000-07:00

In recent weeks, President Obama has traveled the country calling for renewed government spending to foster small-company innovation, but on Monday his administration unveiled a Small Business Administration budget (pdf) for 2012 that limits growth in its most important program, government-guaranteed general business loans. It proposes making cuts, modest and substantial, to other S.B.A. programs as well, and would eliminate two initiatives altogether. Still, over all the cuts are not as drastic as the administration may want to convey.

All told, the Obama administration seeks $985 million in new spending for the agency — or $818 million for small-business programs, after subtracting funds for administering disaster loans, an S.B.A. function that is only marginally related to the agency’s small-business mission (and one that fluctuates wildly in response to events). That is just over half of what it received for these programs in 2010, when the agency was engorged with supplemental stimulus money to spur lending and borrowing.

Congress has yet to pass a budget for fiscal year 2011, and unless it does, spending will remain at 2010 levels, excluding the stimulus money. If $818 million still seems like a big number — should Congress bless the administration proposal, it would be the highest annual appropriation for the agency, in nominal dollars, since at least 2000 — it chiefly reflects the higher cost of subsidizing loans, rather than an expansion of the agency’s services.

In the general business, or 7(a), loan program, the S.B.A. guarantees 85 percent of loans up to $150,000 and 75 percent of loans up to $5 million. The S.B.A., like all federal agencies that make or guarantee loans, must account for the cost of that lending in its annual budget by projecting the share of loans likely to fail and then spreading that cost across the entire pool. For loans made from 2005 to 2008, “the collateral that people had, particularly real estate, was quite inflated,” said the S.B.A. administrator, Karen G. Mills, in a conference call with reporters. “And as a result of those assets really not having the value that they did in that time, we are seeing losses from that cohort in the portfolio.” Those losses have driven up the cost of the subsidy, which is currently shared by taxpayers and S.B.A. lenders and borrowers, who pay a fee on each loan.

For its fiscal year 2012, which will begin in October 2011, the administration is asking for a subsidy that would permit up to $16.5 billion in 7(a) lending. That is $1 billion less than what the S.B.A. sought for fiscal year 2011, and less than it loaned in calendar year 2010, when extended Recovery Actprovisions made 7(a) loans unusually attractive by raising the guarantee to 90 percent and eliminating fees. Demand for 7(a) loans has fallen sharply since those provisions expired at the end of last year, said Ms. Mills, and while the agency expects an uptick, it doesn’t expect to have to turn borrowers away. (Even in pre-recession years, 7(a) lending did not top this ceiling.) But, she added, the S.B.A. already charges borrowers and lenders the most it is allowed by law, so if Congress appropriates a smaller subsidy, the agency will be forced to guarantee still fewer loans. “The subsidy only lasts for so many loans, and that restricts our ability to meet market needs,” said Ms. Mills.

The agency’s microloan program would be hit harder. Microloans are small loans to very small businesses, typically in low-income areas, made by nonprofit organizations with money borrowed from the S.B.A.; the nonprofits also provide training and other technical assistance to borrowers.* The Recovery Act essentially doubled the amount of money the S.B.A. had to loan to microlenders, which quickly absorbed the extra funds. But that, too, has been spent, and as with guaranteed loans, the subsidy expense of making microloans has risen substantially, said an S.B.A. spokesman, Jonathan Swain. The agency will seek to cap its lending at not more than $25 million, the same limit in place for 2011 but well below the $40 million actually provided in both 2009 and 2010. The administration’s budget also proposes a deep cut in funding for the counseling that accompanies microloans — $10 million, down from $22 million in 2010.

Adding to the pressure on these programs is the Small Business Jobs Act that became law last September, which noticeably raised the top loan sizes for most guaranteed loans and microloans. In the microloan program particularly, where demand for loans could easily outstrip supply, larger loans may well mean fewer loans, further constricting the program’s reach.

In the conference call, Ms. Mills stuck to the theme of making difficult choices that Mr. Obama has sounded in recent speeches. “It’s critical that as we go forward with our budgets, we continue to support small business,” she said. “We have to make sure that they can find ways to grow and innovate and create jobs as we come out of the recession, and there’s still work to be done.” But, she added, “even agencies like the S.B.A. have to tighten our belt, too.” The administration apparently believes that there is more political mileage to be gained at the moment by emphasizing its willingness to hurt the ones it loves over its commitment to helping small businesses create jobs — a summary of the budget sent to reporters highlighted the 45 percent cut from 2010 levels, even though the stimulus funding was an extraordinary circumstance.

The president’s budget also proposes spending less on business counseling.Small-business development centers, which are jointly paid for by the S.B.A. and state or local governments, would receive $10 million less from the S.B.A., a cut of nearly 9 percent. The agency would also eliminate a separate small counseling program for the sorts of very small businesses that might be eligible for microloans, as well as a drug-free workplace program, which together would save $9 million. Other counseling programs, including Score, would maintain their funding levels or see slight increases.

Programs that help disadvantaged businesses win government contracts, which have seen big funding increases under the Obama administration, would see modest increases next year.

Ms. Mills said that cuts to microloan technical assistance would be offset by money from the Recovery Act, and that the jobs act provided $50 million to small-business development centers, which they could use to soften the blow in 2012. Still, she said, “this is what belt-tightening is about. Everybody across our 900 small-business development centers is going to do what we’re doing at headquarters and in the field, which is find out how to do more with less. That’s what taxpayers are expecting of us.”

But C. E. “Tee” Rowe, president and chief executive of the Association of Small Business Development Centers, said the centers have already used money from the jobs act to hire more advisers to do more counseling. Moreover, he contended, a cut in federal funding would lead to a cut in state funding. “The state government looks at it as a situation where they’re required to come up with less matching funds, so they will,” he said. “It’s a reduction in both sides.”

Connie Evans, president and chief executive of the Association for Enterprise Opportunity, a trade group for microlenders, criticized the cuts to programs serving the smallest, poorest businesses. “The initiative that the administration has announced recently seems to emphasize high-growth, high-tech businesses,” she said, “and it seems to not grasp the idea that innovation takes place in low-wealth communities as well. And these entrepreneurs need support. Businesses that receive support from microenterprise development organizations have a higher survival rate than the average business and create three to five jobs on average.”

On Capitol Hill, the Democratic leaders of the small-business committees expressed cautious support. “The president has, again, submitted a budget for the Small Business Administration that allows the agency to meet its mission, after years of being under-funded and unable to help small businesses,” Senator Mary Landrieu, Democrat of Louisiana, said in a statement. However, she also signaled she would fight the cut in funding for small-business development centers, which she described as a “lifeline that we must strengthen not weaken.” Representative Nydia Velázquez Democrat of New York, called the president’s S.B.A. proposals “a starting point.”

But Senator Olympia J. Snowe of Maine, the ranking Republican on the Senate small business committee, chastised the Obama administration for seeking more money “for salaries, operating costs, and the administrator’s Executive Direction budget” — which, she pointed out, has nearly tripled since 2008. “If the president can find areas for spending cuts within the programs that directly reach America’s entrepreneurs,” Ms. Snowe said through a spokeswoman, “he should be able to find areas for cuts within the agency’s overhead expenses.”

By ROBB MANDELBAUM

*Microlending should not be confused with the late and troubled America’s Recovery Capital loan program created by the stimulus, in which the S.B.A. fully guaranteed small bank loans to “struggling yet viable” businesses.

Find Business Loans, Grants & Other Financial Assistance

2011-06-02T07:23:00.000-07:00

Federal, state and local governments offer a wide range of financing programs to help small businesses start and grow their operations. These programs include low-interest loans, venture capital, and scientific and economic development grants.

Use SBA.gov's Loans and Grants Search Tool to get a list of financing programs for which you may qualify. Please note that many small businesses do not qualify for government grants. For more information, visit Facts About Government Grants. Additionally, check out the resources below to learn more about small business financing programs.

Videos to Help Small Businesses Export

2011-06-01T07:34:00.000-07:00

President Obama set an ambitious, yet attainable goal of doubling US exports by 2015, and small businesses are leading the way. Often, the only tools a business needs to sell their goods and services overseas are a website and a broadband connection.

At the SBA, we are working to increase the number of small businesses that export, and the number of countries they ship to. Our approach is simple: Identify. Prepare. Connect. Support. We start by identifying small businesses that are interested in exporting. We then work to prepare these companies for the process by connecting them with overseas markets, and supporting them with loans and counseling.

The SBA recently teamed up with Inc. Magazine and AT&T to produce a video series with tips and tricks to help businesses grow and create jobs through exporting:

For Video Click Here

Additional videos are posted at www.inc.com/exporting, and you can learn more about exporting on our website www.sba.gov/international.

SBA, Inc. Magazine and AT&T Join Forces to Promote Exporting by U.S. Small Businesses

Writing a Business Plan

2011-05-31T08:55:00.000-07:00

Now that you’ve decided that you’d like to open a small business, you should put your thoughts down on paper. This way, your business idea is expressed in a plan – a living document that outlines every critical aspect of its operation. This step might sound intimidating, but it’s important. So let’s get started!

Essential Elements of a Good Business Plan
A business plan should be a work in progress. That's because your business will evolve over time, and be influenced by outside factors such as the economy and local conditions. Even successful business owners should maintai...

Finding a Niche: Make Your Business Plan Stand Out
Trying to tackle a wide market is usually too broad of a scope for any but the largest companies to handle. As a smaller business, it's often a better strategy to try to divide potential demand for offerings into manageable...
Templates for Writing a Business Plan
What goes into a business plan? There is no single formula for developing a business plan, but some elements are consistent throughout all business plans. Your plan should include an executive summary, a description of the...
Why Do You Need One?
Do you really need to make a business plan? The short answer is yes. The importance of a comprehensive, thoughtful business plan cannot be overemphasized. Many factors critical to business success depend upon your plan: outside...

Read more at www.sba.gov

Smart phone users interested in starting or growing a small business

2011-05-26T10:16:00.000-07:00

WASHINGTON - Smart phone users interested in starting or growing a small
business can now find helpful resources at their fingertips via a new SBA
mobile application from the U.S. Small Business Administration.

"Increasingly, smart phones are the vehicle through which Americans access
information. This is certainly true of many entrepreneurs and small
business owners and this new application ensures they will have access to
SBA's resources and programs - literally at their fingertips," said SBA
Administrator Karen G. Mills. "Greater mobility fits with the new
user-focused SBA.gov launched recently, and is another example of the steps
we are taking to do a better job of connecting entrepreneurs and small
business owners with the tools to help them start or grow their businesses
and create jobs."

Developed and donated as a gift by Palo Alto Software, Inc., the SBA mobile
app will make the search for extensive resources more efficient, whether
users are starting a new business or taking an existing business to a new
level. The app will first be available for the Apple iPhoneR, with future
versions for other smart phone platforms.

"Palo Alto Software's mission is to help small businesses succeed. We've
developed this mobile application for the SBA because we understand the
importance of having the right tools and resources when starting or growing
a business," said Sabrina Parsons, CEO of Palo Alto Software. "Ideas can
strike entrepreneurs at any moment, and having useful resources available
through mobile devices could be the impetus that begins the next big
company."

The mobile app will help users connect with SBA district office staff and
SBA-affiliated counselors and mentors who can provide free, personalized
small business assistance. The user-friendly format of the app will help
answer questions such as: How do I start a business? Where can I go in my
area to get free help with writing a business plan? And where do I begin
finding funding for my business?

The SBA mobile app also features a built-in startup cost calculator to help
estimate the costs associated with getting a business off the ground, plus
an SBA partner locator to help users find SBA offices, Small Business
Development Centers, Women's Business Centers and SCORE.

Users will also have mobile access to SBA video content and social media
alerts to provide them with tips on the go. This will include live updates
from the SBA's YouTube channel and from SBA's Twitter feeds. The free
mobile app can be downloaded from the SBA's website at
www.sba.gov/content/sba-mobile-app.

List Of Small Business Ideas

2011-05-26T10:12:00.000-07:00

Are you so incredibly passionate to start a business and are looking for a list of small business ideas to answer the million dollar question, “What business should I start?” Well, you’ve come to the right place…

www.weda-atlanta.org helps thousands of people every day – people just like you – come up with profitable small business ideas and begin to learn how to start a small business.

Whether you’re looking for home business ideas, internet and online business ideas, or even looking for franchises to buy, we’re here to help.

If you’re like most of our visitors, you were born with an entrepreneurial flame. An unquenchable thirst to be in business for yourself. You’ve dreamed of learning how to start a small business forever…working for yourself…building something that matters…and making some money!

But yet, something has kept you held back…

Maybe it’s a fear of failure. The fear of not succeeding has simply paralyzed you. A lack of confidence has “frozen” any chance of your getting started.
Or maybe it’s a lack of capital. Not having enough money to fund a startup or sustain one’s family during the beginning phases of the business are concerns that keep many of us locked behind our desk in a nine-to-five grind. Or worse.
Or maybe you just don’t know where to start – you have limited business ideas. Believe it or not, many potential business owners never get started because they have trouble coming up with a list of small business ideas. They lack that special creative spark that ignites the entrepreneurial flame.

While all three of the above startup concerns are valid (and need to all be addressed), the purpose of this website is to help you with the last point – coming up with that elusive list of profitable small business ideas.

You see, once you find the right business idea, the rest of your fears – the obstacles standing in your way – become much easier to conquer.

The Right List Of Small Business Ideas

Learning how to start a small business and growing it into a sustainable venture isn’t easy. Sure, the scam artists out there (and there are thousands) want you to believe you can make money without the blink of an eye. That’s pure B.S. It’s hard work. But you’re absolutely up for it.

This is your vision and some honest elbow grease is a small price to pay for reaching your lifelong dream. You know that – and you’re up for it.

Okay – back to the list of small business ideas and what’s holding you back. Based on our experience and plenty of honest feedback from our visitors, it’s the business idea that serves as the fulcrum to help tilt your entrepreneurial teeter totter in the right direction.

Breaking Through – Achieving Business Success

Have you ever surprised yourself by accomplishing something you didn’t think you could? Maybe the success was the outcome of sheer effort. Or did it almost seem effortless – like you were guided to success by an invisible coach who calmed all of your fears and doubts and allowed you to focus on the one thing that mattered…your success.

What we’re trying to say is that if you’re passionate about your small business ideas, there’s very little that can stand in your way. It’s the passion you have for your business that will help you conquer your fears and finally learn how to start a small business that you always wanted.

This is where we can help. The MySmallBiz.com site lists hundreds of categorized small business ideas to help you brainstorm and research what business you want to start. That’s pretty much all we do here…write about the best small business ideas to help you brainstorm the concept that gets you excited and most importantly – gets you started.

Get started in small business today! Happy Capitalism!

By MySmallBiz.com

Helping Women Prosper...

How to Write a Business Plan

3 Big Expenses Your Small Business Can Cut Today

5 Ways to Grow Your Business (On a Budget)

5 Mistakes Female Business Owners Make

5 Things You Should Do Now to Ride Out the Recession

5 Ways to Grow Your Business During the Recession

Small Business Matters

The big push for small business is jobs

My Grand Experiment: Turning Off AdWords

Search for Business Licenses and Permits

How to Get Licenses and Permits

Developing a Marketing Plan

What can a Marketing Plan do for Your Small Business?

Bend Your Budget When Necessary and Keep an Eye on ROI

Making Your Website Mobile Friendly

Small Business Innovation Research Program

Competitive Opportunity for Small Business:

SBIR Qualifications:

The SBIR System:

Three-Phase Program:

SBA Role:

Developing a Marketing Plan

What can a Marketing Plan do for Your Small Business?

Bend Your Budget When Necessary and Keep an Eye on ROI

Preparing Your Finances

Understanding the Basics

Business Law & Regulations

Industry Laws & Regulations

Green Marketing

Green Your Products

Advertising and Eco-Labeling

Market Research

Running A Business

Daily Business Operations

Insurance and PreparingYour Business for anEmergency

General Information

Building the Corporate Structureof Your Business

Working with the Government

Financing a Business

Podcasts

What are the Small Business Size Standards?

What are the Small Business Size Standards?

Conducting Market Research

Area nonprofits support minority businesses

CREATING A SOCIAL MEDIA MARKETING PLAN

Looking For a Small Business Loan?

ACCION USA IS A TRUSTED LEADER IN SMALL BUSINESS LENDING

SMALL BUSINESS LOANS UP TO $50,000

FINANCIAL AND BUSINESS ADVICE

Thinking About Starting a Business?

4 Ways to Use Less Paper at Your Business

Why is it important to have a (good) website for your business?

Microloan Program

What is a Microloan?

How Microloan Funds May Be Used

Technical Assistance

Terms, Interest Rates, and Fees

Collateral

Contact Your Local Microloan Intermediary

7 Small Business Marketing Tips

What Obama’s Budget Means for the S.B.A.

Find Business Loans, Grants & Other Financial Assistance

Videos to Help Small Businesses Export

Writing a Business Plan

Essential Elements of a Good Business Plan

Smart phone users interested in starting or growing a small business

List Of Small Business Ideas

The Right List Of Small Business Ideas

Breaking Through – Achieving Business Success

Insurance and Preparing
Your Business for an
Emergency

Building the Corporate Structure
of Your Business