PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Small Biz Accelerator: Tips, Trends and Resources for Entrepreneurs

By at 11 March, 2018, 12:03 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.

Marketplace Trends and Growth Opportunities

The Top Franchise Trends for 2018, The Franchise King.  All you need to know about the trends driving franchising, general growth for the industry in 2018 and the best growth sectors in franchising based on market trends.

Where Small Town America is Thriving, Forbes. “We have identified the stellar small places — metropolitan areas with populations between 12,800 and 300,000 – based on wages, and wage growth and job creation from 2007 to 2017. Even as most smaller towns have seen rather tepid job growth, these cities at the top of our list are outperforming not only their same-size counterparts, but some major urban competitors as well.”

Home is Where the Profits Are, Small Biz Daily. “There are plenty of opportunities for entrepreneurs in the home décor, design and remodeling markets. Older Americans are either downsizing, fixing their current homes before they move into smaller ones, or remodeling them to make them more accessible, while millennials are buying homes (many in need of repair) to fit their growing families.”

Where the Profits Are: 2018 Hottest Wedding Trends, Small Biz Daily. “The wedding industry is not slowing down anytime soon—there are about 2 million weddings a year the U.S. The good news for entrepreneurs: In general the wedding business is primarily still a local one, and according to a report from TheKnot.com, many of the vendors in the industry are hardworking small businesses.”

Operations and Management

7 Modern Business Values that Lead to Sustainable Profits, Startup Professionals. “As an entrepreneur, it’s never too early to set the culture you need for a thriving business, as well as thriving employees, customers, partners, and vendors. In fact, in my experience, cultures are very hard to change, so if you don’t get it right the first time, the road ahead will forever be difficult.”

10 Pro Tips for Building an e-Commerce Business with Fulfillment by Amazon, Small Business Trends. “Essentially, using Fulfillment by Amazon allows you to free up the time you would have spent packing and shipping orders so you can focus on other areas of your business. So you have to be strategic with how you use that time for things like marketing, fine-tuning your shop and completing administrative tasks.”

Mistakes to Avoid When Building an App for Your Startup, Small Biz Daily. “Developing an app is another one of those tasks that has immense benefits for your startup, so much so that you cannot delay it any longer. However, it is a rather expensive undertaking that requires a significant amount of resources.”

Branding, Marketing and Sales

Is Your Small Business Ready for the Mobile Revolution? Small Biz Daily. “Have you noticed more customers lately asking if you accept Apple Pay or Android Pay? You’re not imagining it. Smartphones are becoming more integrated in our lives every day, and customers are beginning to expect that even small businesses keep up.”

4 Ways Mom and Pop Businesses Can Outshine Their Bigger Competitors, SBA. “These days, Mom and Pop businesses face many challenges as they compete against larger retailers and service providers with expansive budgets. But Mom and Pops have some strengths bigger companies don’t. By leveraging them, they cannot only compete successfully but also excel.”

How Illustrations Can Boost Your Small Business Marketing, CrowdSpring. “Marketing encompasses every communication your business has with your customers and target audience. Visual marketing is becoming more important because it offers rich storytelling and people process and remember visuals better than words.”

Finance and Access to Capital

The Good, the Bad and the Ugly of Funding From Friends, Startup Professionals. “Most experienced entrepreneurs and investors can recount a horror story of families and friendships torn apart by money lost on someone else’s dream. In these cases both the entrepreneur and the friends are the fools. Don’t be one or create one.”

How Will Venture Capital Change in the Next Decade? Forbes. “In the world of venture capital, there will be more winner-take-most markets versus the niche markets of today.”

Upcoming Webinars

Cybersecure My Business Webinar: Know What Recovery Looks Like

National Cyber Security Alliance (NCSA)

March 13, 2018

2:00-3:00 p.m. ET

Join NCSA and our partners to learn about how to recover from a cyber incident. Resources are available to help you improve the cybersecurity of your business. Visit staysafeonline.org for more information.

Click here for more information and to register.

 

SCORE LIVE Webinar: Three Ways to Boost Your Bottom Line

March 15, 2018

1:00 p.m. ET

Do you ever feel like you’re overwhelmed and scared to take a serious look at the numbers side of your business? In this webinar produced by SCORE, a resource partner of the U.S. Small Business Administration, you will learn:

● The relationship between prosperity thinking and poverty thinking

● The difference between profits and cash

● How the timing of inflows and outflows of money affects your business

● How to have your business money serve your personal life

Register

 

Startups and Entrepreneurship

5 Motivations that Bode Well for New Venture Success, Startup Professionals. “According to a study by the Wharton School of Business, in a survey of 11,000 MBA graduates over many years, those running their own businesses ranked themselves happier than all other professions, regardless of how much money they made. So what are the right motivations, and how do you candidly assess your own?”

3 Proven Branding Strategies You Can Utilize for Your Startup, Smart Hustle. “Brand recognition is essential since customers decide on their purchase based on emotional attachments to a particular brand and perceived quality.”

 

Success and Inspiration

Need Reasons to Be Optimistic? Read This, SBE Council/Susan Solovic. “A New York life survey reveals that parents who are also small business owners are more optimistic about the future of their children than American parents in general. Seventy-seven percent of small business owner parents believe that when their children become adults they will have a better standard of living then they (the parents) currently have. This is a full 10 percentage points higher when compared to the country’s parents in general.”

Why the Most Successful Entrepreneurs Say “No,” CrowdSpring.  “While it might seem counterproductive for an entrepreneur to say no to people or opportunities, it’s actually one of the most important characteristics of being a successful entrepreneur. The things you say no to are often the catalysts that give you the time and focus to succeed.”

He Started His Company for $10,000. He Sold it For $600 Million Five Years Later, Inc. How RXBAR grew into a $600 million dollar company with no investors.

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