PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

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

By at 2 June, 2018, 11:08 am

Here’s 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.

Branding, Marketing and Sales Growth

Small Business Branding: What Color Says About Your Business, CrowdSpring. “According to a study examining the effect of color on sales, 92.6% of people surveyed by the CCI: Institute for Color Research said that color was the most important factor when purchasing products. Another study showed that people make a subconscious judgment about a person, environment, or thing within 90 seconds. That judgment was influenced, in 62%-90% of examples, by color alone.”

E-mail Design Best Practices for Small Businesses, Small Biz Daily. “A study from Marketing Land states that 77% of the users preferred to receive permission-based marketing messages via Email. If you have a business, then you should consider running email marketing campaigns and make the most of your marketing strategy.”

How to Attract Customers Online, Web.com. “If you want your ecommerce website to compete with Amazon, the first step is getting more customers to visit your website. The good news is, it’s not that hard to do. If you’re not sure how to attract customers online, read on for an ecommerce marketing plan that will help your sales soar.”

Valuable Strategies to Generate Business Referrals and Increase Sales, CrowdSpring. Many startups and small businesses leave referrals to chance. Don’t do that. “If you don’t have a referral marketing strategy in place, you’re giving up a substantial amount of revenue. Referrals from happy customers represent your best opportunity to grow revenue and profits in your business.”

9 Revenue Models that Can Keep Your Business Thriving, Startup Professionals. “Based on traditional research, getting new customers is five to ten times harder than getting additional revenue from existing customers. Thus the subscription model (low fixed monthly payments), has become the norm for new products and services…If you are an entrepreneur not using this model, it may be time to consider a pivot.”

Getting to Global: Is Your Small Business Ready? EX-IM Bank. “The Getting to Global initiative is a public/private partnership that unites business executives, government entities and industry experts to empower small to medium-sized companies to sell more online and overseas.” Check out the resources and basics for going global.

 

SCORE Webinars (FREE)

Intellectual Property 101: What You Need to Know for Starting and Growing a Business

JUNE 5, 2018 – 1:00 p.m. ET

Understanding intellectual property (IP) is an important skill for anyone starting or growing a business.  Your business name, products, services, and other technical and creative works are usually protected by one or more forms of IP:  patents, trademarks, copyrights, and trade secrets.

Having a working knowledge of how IP protects the various parts of your business and helps you create and maintain a competitive advantage over your competition is absolutely essential for your long-term success.

To register for this webinar, or to learn more about the content that will be covered, click here.

 

Startup Shortcuts: 10 Ways to Jumpstart Your Small Business

JUNE 7, 2018 – 1:00 p.m. ET

Starting a business today is both easier than ever and more complex. While technology has lowered costs, there’s increased competition from across the globe.  In this webinar, Rieva Lesonsky and Barry Moltz will provide you with plenty of tips and tricks to help you launch your small business and give you an edge over any competitors.

To register for this webinar, or to learn more about the content that will be covered, click here.

 

Operations and Management

The Good, the Bad and the Ugly About Getting Paid in Cryptocurrency, Barbara Weltman/SBE Council. “The financial markets are all abuzz about cryptocurrency. But as a small business, should you be accepting payment in this virtual currency? A growing number of companies, including a number of small businesses, accept Bitcoin; a list of them was last updated in March. There are certainly pros and cons to consider before you move ahead in this area.”

Elite Business Secrets Revealed: Use These 6 Technologies, Small Business Trends. “Faster than ever before, business processes across industries are being simplified by cloud-based applications and software. This new wave of technology is affordable, easily accessed, and designed with ease of use in mind. Businesses of any size, in just about every industry stand to reap the benefits of this technology—without the right tools at your disposal, your business is likely wasting money and billable hours on tasks that have been streamlined by cloud-based apps.”

LLC vs. PLLC: Which Structure is Right for Your Business? Small Biz Daily. “As a professional, you may want to opt for the liability protection and flexibility that a limited liability company (LLC) offers, as opposed to forming a corporation or partnership. But in many states, professionals whose jobs require licensing by the state aren’t legally allowed to form an LLC. Instead, they must form a professional limited liability company (PLLC).”

Foreign Cyber Actors Target Home and Office Routers, FBI. “The FBI recommends any owner of small office and home office routers power cycle (reboot) the devices. Foreign cyber actors have compromised hundreds of thousands of home and office routers and other networked devices worldwide.”

Preparing for Retirement When You’re a Business Owner, SBE Council/SAP. “75% of Americans underestimate their retirement savings needs. As a business owner, you often don’t have the benefit of someone else’s HR department evaluation retirement benefit options and setting up a plan for you. SBE Council highlight steps you can take to start out on the right foot.”

Startups and Entrepreneurship

Best 12 Tips for Your New eBay Store, Small Business Trends. “Selling products on eBay makes for one of the quickest and easiest ways to start a business. However, creating a successful business around eBay requires more than just signing up for an account and listing a product or two. You have to consider your inventory, marketing and extra services to optimize your shop’s processes. Here’s a guide to help you make the most of your eBay business.”

What Everybody Ought to Know About Franchise Consultants, The Franchise King. “*The secrets I’m about to share (probably) aren’t going to win me any popularity contests with any of the 2000+ franchise consultants who peddle franchises these days. But everybody (you included) ought to know about franchise consultants. Because if you’re on the hunt for a franchise, you’re probably going to come across at least one of them.”

Don’t Let Outdated Innovation Myths Limit Your Career, Startup Professionals. “Everyone knows that starting a new business, or even keeping an old one competitive, requires innovation. But in my role as a mentor to many aspiring entrepreneurs, I find many who never start because they assume that they don’t have what it takes to be innovative. Chances are, they have accepted one of the common myths that keep innovation outside their range of thinking.”

Trends in the Marketplace

Introducing the YouEconomy, Success. “The YouEconomy is the result—and now the supporter—of this desire to recreate ourselves. We no longer have to fit into a corporate mold that lasts a lifetime. Nor do we need to stick with the field we studied in college or the job title we’ve worked under for five years. The YouEconomy has returned our power of choice.”

People are Fleeing Silicon Valley for Arizona, Nevada, Texas and Idaho, Mercury News. “The heart of the nation’s tech sector, the astronomically expensive Santa Clara County, leads the state in residents looking to move out of town, a new report found. Using property searches and census data, analysts at realtor.com found that a larger share of residents are leaving Santa Clara County — home to tech behemoths Google and Apple — than any other county in California. Nearby San Mateo County, where Facebook is headquartered, came in second, just ahead of Los Angeles County.”

Personal Improvement and Success

6 Relationship Strategies that Propel Your Business, Startup Professionals. “Overall, the breadth and depth of your relationship networks is more critical to your business success than your ability to define and build the perfect solution. These relationships empower you to confidently and aggressively take risks, continually innovate, and recover from losses and setbacks along the way.”

Entrepreneurs: Remember That Who You Spend Time With is Who You Become, Forbes. “We often distinguish our business and personal lives, convincing ourselves that it is okay to be one way at the office and another at home. The truth is that there is no such separation, and to think otherwise is pure folly.  Personal consistency is all we have, and therefore must surround ourselves with people we trust, respect, and admire in every aspect of our lives. Doing so will not only make you a better person but a better leader.”

Learning from Netflix: How to Build a Culture of Freedom and Responsibility, Knowledge @Wharton. “Companies operate in uncertain environments. In order to confront unexpected challenges and seize emerging opportunities, they need to have a culture that balances freedom with responsibility. That is a lesson that Netflix learned as it developed rapidly as an organization where employees know how exactly they create value for customers and for the company.”

 

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