PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Small Biz Accelerator: Tips, Trends and Resources for Entrepreneurs

By at 3 December, 2017, 1:27 pm

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

 

Strategy, Management and Operations

10 Strategies for Leaders to Drive Disruptive Change, Startup Professionals. “How is it that only a few business leaders and entrepreneurs seem to drive exceptional results and disruptive innovation in this rapidly changing market economy (marketquake)? These few seem more adept at executing market and technology turns, not just incremental evolution. They consistently take bold steps to stay ahead of the curve, often contrary to conventional wisdom.”

6 Costly Employment Contract Mistakes, Young Upstarts. “When you hire others to work for you, employment contracts are vital to outlining what is expected of employees, the terms of their employment, company policies, ownership of intellectual property, and certain financial agreements.”

The Importance of Changing Your Company Offerings, GrowThink. “So take a moment today to think about your next iteration. What can your company start offering to add value to customers? What expertise do you have internally that you haven’t yet shared with the world? Figuring these out could be just the positive change you and your company need.”

10 Ways Leaders Can Help Employees Find Meaning at Work, CrowdSpring. “Waking up day after day without a connection to our work beyond the transactional relationship of a paycheck is demoralizing and unsustainable.”

Susan Solovic: 6 Key Areas for Improvement if You Want to Be the Industry Leader, SBE Council/Susan Solovic. “You may sometimes feel that you’re on a treadmill and not making any progress, but that’s simply because incremental improvement is often difficult to see at close range. When you step back and look at the history of your company, you’ll see how far you’ve come when you give your business the care and feeding it requires. Here are six areas in your business that need constant attention. You can’t ‘stand pat’ on any of these.”

5 Elements to a Successful Partnership with Your Spouse, Smart CEO. “Of the 28 million US small businesses, the Harvard Business Review says 3.7 million are owned and operated by a married couple. There are important implications for those businesses, because as we know from the US Census, the divorce rate is approximately 50 percent.”

7 Things to Know About Backing Up Data, Small Business Bonfire. “Data backup is essential to the running of any business; it is one of the most important aspects but also one of the most ignored. Backing up data is the process of making a copy of your files, to be used if the original copy disappears or is lost. The copy of the file is normally stored in a secure location different to the original.”

APPLY TODAY! National Small Business Week Awards

National Small Business Week is April 29-May 15, 2018.  Are you a small business owner with an amazing success story to tell? If so, submit your nomination today for the 2018 National Small Business Week Awards. All nominations must be mailed or hand delivered to the nearest SBA Office no later than 3:00 p.m. ET on January 9, 2018. Consult the Awards Guidelines for details.

Consult the Awards Guidelines for a list of National Small Business Week Awards, eligibility criteria, selection process, evaluation criteria and how to submit a nomination package.

Click here for more information.

Trends in Entrepreneurship and the Market

Are Makers the Future of Small Manufacturing? Small Biz Labs. “The thrust of the report [by the National League of Cities] is that ‘maker-entrepreneurs’ –  individuals or micro-businesses who create (either by design or fabrication) and sell tangible products – are potentially the future of manufacturing.”

The Cities With the Most Self-Employed, Small Biz Labs. “A new report from the Stephen S. Fuller Institute at Virginia’s George Mason University shows that Miami has by far the most non-employer businesses per capita in the U.S. (click on chart to enlarge).”

3 Big Trends in Small Business for 2018, SCORE. “Customers expect excellent service, clear value and an overall pleasant experience when they complete a purchase. The tools and techniques to achieve that small business standard, though, have changed greatly over the years.”

Will Alexa Be Your Next Employee of the Month? Susan Solovic. “Did you hear the news about Amazon’s Alexa? The company is targeting businesses to adopt the popular voice-activated assistant.”

Startups Ideas and Success

10 Top Revenue Models Drive Viable Businesses Today, Startups Professionals. “Every business needs to develop a revenue model even before a product. The alternatives range from giving the product away for free (revenue from ads), to pricing based on costs, to charging what the market will bear (premium pricing). The implications of the decision you make are huge, including brand image, funding requirements, and long-term business viability.”

7 Questions to Ask Yourself Before Considering a Subscription Box Business, Bplans. “Most shopping will be done online in the near future – and subscription ecommerce will be a vital part of it…Surely there are as many types of subscription businesses as there are entrepreneurs who stand behind them. Every business is unique.”

4 Key Questions to Identify Your Ideal Startup Site, Startup Professionals. “Since 2006, the number of startups founded and funded outside of California, Massachusetts, and New York, has grown by almost 65%. So don’t let location hold you back, but you need to go in with your eyes open. It takes more than a dream and passion to build a business.

Success Stories and Inspiration

Why Being an Immigrant is the Ultimate Entrepreneurial Experience, TechStars. “I worked 20 hours each week, the maximum allowed to work on campus as a full-time student, all while triple majoring in math, computer science and computational science. I had time only for working, studying, eating, and sleeping. Between university and founding Leanplum (Seattle ’12), I worked at Google for five years. When I left, I knew I was giving up the security of a work visa and paycheck, both of which I’d come to heavily rely on.”

How Brian Scudamore Grew 1-800-Got-Junk One Truck at a Time, Ramon Ray/Small Biz Trends. “Scudamore, who recently spoke with Small Business Trends as part of our exclusive Smart Hustle Report, started his company with just a single truck. And he eventually grew it into a $400 million company with more than 2,000 trucks across Canada, the U.S. and Australia.” (Podcast)

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