PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Small Biz Accelerator: Tips & Trends News Highlights and Resources

By at 15 July, 2017, 11:29 am

The past week’s roundup of “How To” articles, educational resources and future events, business news and success stories recommended by SBE Council President & CEO Karen Kerrigan.

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Startup Success and Entrepreneurship

Stop Waiting for Your Billion Dollar Idea and Do This Instead, Fortune. “What wannabe entrepreneurs often fail to see is that you don’t have to aim to be a billion-dollar company, start a new market from scratch, or create a breakthrough product. You can start with something you already love and know well, copy the existing products out there, and focus your energy on creative marketing.”

Defining Success is a Crucial First Step for Entrepreneurs, Inc. “Before you start a company, there are many crucial steps to take. One of the most important is to develop a definition of success that you can measure your company against, because if you haven’t defined success for yourself, you’ll have no way of gauging whether you’ve achieved it.”

How To Validate a New Product Idea (Fast), The Small Business Expert. “So you think you’ve got a great product idea. What’s next? Validating your product idea is a crucial early step in any new business venture – one that helps to avoid wasted time and money on a product that in reality, nobody actually wants.”

U.S. Census Bureau Updates Its Business Builder Tool, Small Biz Trends. “The CBB tool is a suite of services that provide selected demographic and economic data from the Census Bureau. The data is tailored to your needs in an easy-to-access and use format.”

The Best Way to Handle Customer Complaints, Bplans. “If you’re thinking about starting up a small business or you’ve just recently launched, fantastic customer service is undoubtedly on your radar. You want your customers to come away from an experience with your company having seen you in the best possible light.”

Marketing, Branding and Sales

What Small Businesses Need to Know About Digital Behavior, Business Insanity Radio (PodCast). “Many of us have been on the internet for over 20 years, but consumers’ digital behavior is changing and now your company’s marketing needs to change with it; we’ll show you how.”

How to Maximize the Effectiveness of Organic Social Selling, Small Biz Daily. “The Internet provides customers with access to countless products and the best part is that there are no physical boundaries for them to deal with. This allows customers to make the buying decisions without any additional considerations.  Plus, customers now have the ability to make decisions based on content, comments, and reviews provided by their peers.”

Alibaba Launches Network to Match U.S. Businesses with Chinese Consumers, Small Biz Trends. “The network will help U.S. small businesses easily connect with merchants operating within Alibaba’s ecosystem, meaning small businesses can now reach the more than half a billion consumers on Alibaba’s platforms”

TradeSource: Harnessing Global Opportunities, Upping Your Export Game, Census Bureau. New tools from the Census Bureau as well as upcoming seminars on exports compliance and other resources on operating successfully in the global marketplace.

Why Small Businesses Should Get Involved in Building the Community, Smart Hustle. “An effective community engagement strategy, however, is lacking in many startups. They simply see themselves as a point of market transactions, rather than a communal, connecting force. If you’re not making an impact in your community, through providing a service, an experience, or even volunteering works, then why are you even there?

Why Good Design is More Important Than Ever for Your Business, crowdSPRING. “The most successful companies know there are compelling reasons to prioritize design to improve the odds of success. Good design creates meaningful first impressions, helps you differentiate yourself from your competitors, can solve problems, and boosts brand awareness and the bottom line.”

Operations and Management

The Pop-Up Employer: Build a Team, Do the Job, Say Goodbye, New York Times.  What is a flash organization? Technology has made it easier to bring people and experts together to do project work.

Tips to Keep Your Business Profitable, Small Biz Daily. “Productivity gains require constant analysis and evaluation of resources and employees. You must be willing and able to adapt to the changing economy to maximize your company’s profit potential, even changing the original business plan if necessary.”

10 Business Idea Assertions Mask the Real Challenge, Startup Professionals. “Everyone agrees that the goal of innovation is positive change, to make someone or something better. Entrepreneurs need it to start, and established companies need it to survive. The front end of innovation, or “ideating” is the energizing and glamorous part. Execution seems like behind-the-scenes dirty work.  But without the reality of execution, innovative ideas really have no value.”

3 Smart Ways to Increase the Value of Your Business, Biz Journals. “Most small business could see a boost in their valuation of more than 25 percent if owners identified ways to strengthen or fix operational elements of their organization, according to data from CoreValue Software, a company in New Hampshire.’

Policy and Small Business

How Tax Reform Will Help Small Business and Grow the Economy, SBE Council (Written Testimony Before House Ways and Means Committee). “Transforming the system to one that is simple and fair, while allowing business owners to keep more of their earnings, will translate into major gains for our economy including quality job growth.”

6 Ways States are Creating Small Business Hot Spots – and Creating Jobs, CNBC. “Here is a look at six key factors that make states attractive to small business, according to experts and entrepreneurs.”

Trump Delays International Entrepreneur Rule, Small Biz Trends. “To make matters worse for foreign entrepreneurs looking to use America as a beachhead, the Federal Register notice of the delay will be published tomorrow.  It’s thought to be the first step in rescinding the rule completely.”

Trends in the Market

In Social Sports, It’s About Camaraderie, Not Competition, New York Times. “The Sport and Social Industry Association said its 65 member companies has revenue of about $66 million in 2015, the most recent data available, with 1.2 million participants in leagues.”

Beauty Buzz: Millennials Drive Soaring Sales of Beauty Products, Small Biz Daily. “One industry that seems to have a fast track from startup to being bought for millions by large corporate conglomerates is the beauty biz. And right now, that business is on fire.”

Inspiration and Self-Improvement

Thinking About Giving Up? Read This First, Inc.  “What do J.K. Rowling, Walt Disney, Albert Einstein, Vincent van Gogh, Thomas Edison, and Dr. Seuss have in common? They all failed miserably before they became successful.”

13 Things Mentally Strong People Don’t Do, Success. “Reaching your greatest potential doesn’t require you to work harder by adding desirable habits to your already busy life. Instead you can work smarter by eliminating the routines that erode effectiveness and siphon off mental strength.”

6 Ways to Learn from Failure, and Beat Success Odds, Startup Professionals. “Everyone agrees that establishing and maintaining a company-wide learning culture is not so easy. It requires an ongoing commitment and effort from top executives and leaders at every level, with a focus on the following key principles.”

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