PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Small Biz Accelerator: Tips, Trends and Business Resources for Entrepreneurs

By at 25 March, 2018, 1:25 pm

Spring has arrived!  What facets of your business operations are in need of a clean up, or simple adjustment, to better compete in the growing economy? This week’s “tips and trends” selected by SBE Council president & CEO Karen Kerrigan cover the spectrum of business topics and “how to” content to help your small business or startup succeed.

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Branding, Marketing and Sales

10 Practices to Compete in the New World of Marketing, Startup Professionals. “The world of marketing is changing faster than technology these days…For all those entrepreneurs and startups who can’t yet afford a new age marketing agency, it’s impossible to keep up with “best of breed” marketing activities and strategies.”

50 Small Business Advertising Ideas, Small Business Trends. “Today’s entrepreneurs have more options than ever when it comes to small business advertising ideas. So even if you can’t afford a national TV ad or a full-page spread in this month’s Vogue, you can still get your message in front of relevant customers without blowing your entire budget.”

Why Beautiful Design Isn’t Always Best for Small Businesses and Startups, CrowdSpring. Sometimes simple or “unattractive” websites work. “The important lesson for small businesses and startups: focus on building a foundation of meaningful, relevant content before you worry about making things pretty.”

 

National Small Business Week Virtual Conference

May 1-3, 2018

The U.S. Small Business Administration and SCORE Association will host a free, 3-Day Virtual Conference during National Small Business Week. The conference will take place Tuesday, May 1 – Thursday, May 3 between 12:30 pm ET – 6:30 pm ET each day. Registration is free to the public. A schedule of live events will be sent to registrants via email. Practical advice on current business strategies, meet other business owners, and chat with industry experts! The Virtual Conference offers all the best parts of an in-person conference, but without the hassle of traveling.

 

Markets and Growth Opportunities

Mexican Shoppers Driving Digital Demand for International Retailers and Mobile Purchasing, The Financial. “78% percent of Mexican consumers confirm having made an online international purchase, mainly from the United States (73%). According to surveyed respondents who purchased from an international retailer, 36% were driven by lower prices, and 44% wanted unique products not found from Mexican retailers.”

Modern Day Women: The Power House That Invests, Engages and Influences, Nielsen. “In the U.S. alone, women make up just over half of the population, and they’re accountable for over $39 trillion dollars. That puts them in charge of 30% of the world’s wealth, and the number is growing.”

The U.S. Metro Area with the Biggest VC Returns is not Silicon Valley, Axios. “While startups around Silicon Valley get the most venture capital funding, the biggest returns for investors come from companies in the Chicago metropolitan area — with an 8.5x return during 2010-2017.”

Startups and Entrepreneurship

Report Reveals the Costs of Starting a Restaurant, Small Business Trends. “With the right cuisine and operations, you can get your share of the $799 billion in total industry sales reported for 2017.”

This Sneaker Startup’s Explosive Growth Comes from Artist Partnerships, Fast Company. “Koio’s goal is to tap into very different audiences, making the case that high-end sneakers fit into different aesthetics and lifestyles. The shoes look just as appropriate among JonBoy’s edgy downtown clientele as they do among the beachy crowd that loves Quincy Davis.”

How to Pitch Your Startup to a Venture Capitalist, Knowledge @Wharton. (Article and Podcast) “Before the first meeting with a potential investor, the entrepreneur should be able to sharply define the company’s business model and have the right team in place. That means doing the required homework and answering important questions: Is this a lifestyle business? Is it a cash-producing business? What’s the short-term vision? What’s the long-term goal? Could the business be worth $1 billion someday?” And that’s just the beginning.

Business Startup Checklist, BPlans. “We’ve broken the tasks down into manageable categories and included links that will help you complete each stage of getting started.”

Operations and Management

Accountants Versus Book Keepers – What You Should Know, SCORE. “As a small business, managing your finances is no small task. Since one of the main reasons businesses fail is due to poor cash flow management, it’s also why you need help.”

6 Strategies to Raise Employee Happiness and Loyalty, Startup Professionals. “According to a recent study from Deloitte, happy employees have been shown to be up to 20 percent more effective in the workplace than unhappy employees, as well as far more loyal and productive.”

How I Stopped Wasting 12 Hours a Week on Email, Forbes. “Studies have shown that 81% of us check email outside of work; almost 60% monitor email on vacation; and 55% check it after 11pm on a regular basis. When we’re at our desks, it gets worse: The average worker checks email 11 times an hour and spends almost 30% of the workweek on email.”

The Entrepreneur’s Guide to Setting Up Your First Website, BPlans “Creating a personally branded site or business website as a new entrepreneur is the first step to selling products and crafting a reputation. Having your own website helps you create content, list products and ultimately establish yourself as a household brand name in your niche.”

Success and Inspiration

She Was Told ‘No’ 100 Times. Now This 30 Year Old Female Founder Runs a $1 Billion Dollar Business, Entrepreneur. “So much of success is knowing when to stay the course, even when you’re met with rejection after rejection. 30-year-old Melanie Perkins has been launching creative businesses since she was a teenager.”

5 Self-Sabotaging Behaviors to Avoid, Success. “When plans go awry, an insecure person points a finger at other people. A thoughtful person, however, owns mistakes and seeks to learn from them to avert them in the future. That often requires introspection and honest self-appraisal. With enough practice, you can learn to recognize your own thought patterns and change them before they cause bad behaviors.”

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