PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Small Business Accelerator

By at 6 October, 2018, 9:53 am

Tips, Trends and Resources for Entrepreneurs

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.

Get Ready to Shop Small: November 24, 2018

#ShopSmall 

Once again, SBE Council is a partner of Small Business Saturday.  It’s time to get your business ready! To get started, visit the Small Business Saturday 2018 resource page here.

Marketing, Branding and Sales 

5 Proven Steps That Will Help You Create a Powerful Brand Identity, CrowdSpring. “A strong brand identity isn’t just a vague idea bandied about by big companies with deep marketing pockets. It’s a critical component of any business’ longevity and success.” 

How to Create an In-Store Experience that Beats Out Amazon, Small Business Trends. “Amazon Prime members get free shipping, but Amazon actually loses more than $1 billion a year on the program. They make up for it with increased transaction frequency, but no matter how great their warehousing capabilities are, they still can’t compete with retailers when it comes to face-to-face service and personalization.”

7 Steps to a Memorable New Venturing Marketing Rollout, Startup Professionals. “It’s time to be proactive in finding customers, engaging them in two-way conversations, and listening carefully to their message, as well as projecting yours. It’s not the size of your budget that makes you memorable – it’s the size of your connection with real customers who can multiply your efforts.”

SCORE Webinar (Live):  Can Customer Engagement Increase Your Profits?

October 11, 2018

1:00 p.m. ET

The key to a successful business: customers. Let’s face it, without customers you’d have no business. Yet, for a new or growing business, your budget can often be tight, and determining the best way to engage customers can be challenging. This is especially true in our fast-paced world and shorter attention spans.

In this webinar, presented by Kristie Arslan, Entrepreneur-in-Residence with SBE Council, the  discussion will focus on how to help improve small business interactions with customers to boost your bottom line.

You will learn:

● What you need to do to establish a strong digital presence for your business

● How to attract and engage customers with content

● Tools & tips to convert online customer engagement into money in the bank

To learn more, or to register for FREE, please visit here.

 

8 Tried and True Marketing Ideas that Still Work, Small Biz Daily. “A diverse strategy in marketing allows a campaign to reach the largest audience possible. Sticking to only digital marketing can alienate consumers that are not glued to their devices for hours per day.”

6 Keys to Maximizing Your Content Marketing Impact, Startup Professionals. “What we call “marketing” has changed from a focus on “selling” customers with push marketing, to a focus on providing value early and in every way possible, such that customers are drawn to you as a trusted provider of value.”

Uber’s Powerful Rebrand and What Your Business Can Learn From It, CrowdSpring. “Brand identity constantly evolves and changes in public opinion and bad press can tarnish a company’s brand.  That’s exactly what happened with Uber when it rebranded for the second time in three years.”

The One Thing You Should Be Doing to Improve Your Email Marketing, Business News Daily. “What people want is a more personal approach. In fact, according to Experian Marketing Services, personalized emails delivered 6 times higher transaction rates (clicks, opens, etc.), but 70 percent of brands don’t use them.”

Human Capital and Operations

Why Employee Opinions Matter and How to Get Feedback, SBE Council Big Ideas for Small Business®.  With unemployment at historic lows, the job market is tight. Many employers are searching for that competitive edge to make their workplace more appealing than other businesses. One way to retain employees while building a culture that will attract others is “to learn what employees think and address their concerns.”

10 Ways Your Business Can Save on Operational Costs, Small Biz Daily. “When it comes to running a business, you may uncover a lot of hidden costs that can hinder your success and profit margins. Luckily, there are things you can do to reduce your spending and be more financially savvy.”

Helping Employees with Student Loan Debt, Small Business Insider/Big Ideas for Small Business®.  One of the biggest financial challenges facing many employees these days is student loan debt: “It may be millennials with their own loans, or it may be older employees with loans they’ve taken to put their children through school.” There are currently more than 44 million borrowers who owe $1.52 trillion in student loan debt.

IRS Issues Guidance on Business Expense Deductions for Meals & Entertainment, Forbes. “As part of the Tax Cuts and Jobs Act (TCJA), there have been changes to the treatment of certain business-related expenses, including travel, business meals, and entertainment.” The IRS has issued guidance about these changes.

Marketplace Trends

November Online Sales Will Eclipse December Totals This Year, Report Says, Small Business Trends. “The newly released infographic reveals that this year’s Christmas day will be one of the biggest shopping days alongside Black Friday, Cyber Monday and Green Monday. But November online sales could grow nearly 60 percent year-on-year since Black Friday to Cyber Monday deals are spread out throughout the month. This essentially makes November a bigger shopping month compared to December.”

5 Ways Blockchain Technology is Transforming Business, Small Biz Daily. “Entrepreneurs and large corporations are finding ways to improve and overhaul existing processes using blockchain, and in this article, we will explore some of the ways it could impact or be applied to your business.” 

Access to Capital and Finance 

SBA’s Access to Capital Programs, SBE Council-Forbes Books Radio. How much do you know about the Small Business Administration’s (SBA’s) lending and capital access programs? Bill Manger, Associate Administrator for the SBA, Office of Capital Access, joined SBE Council-Forbes Books Radio where he covered the various programs that help small business access capital, including SBA-guaranteed loans, micro-loans and SBA’s Lender Match program, which is a free online tool to help small businesses connect with approved lenders.  Listen to the 20 minute podcast here.

6 Common Misconceptions About Angel Investors, Bplans. “The question on Quora was ‘What do investors ‘get’ that other people don’t?’ I answered that question from the point of view of angel investors, specifically … not just investors.”

Thought Leadership and Success

5 Reasons Not to Follow the Lean Startup Process for Your Next Idea, Entrepreneur. “While one cannot deny the merits of the lean process, the bigger lesson is that the lean startup methodology is not the holy grail of startup success. What sounds great in theory is extremely hard to practice.”

The Five Hour Rule Used By the Most Successful People, Startup Urban. “One of the most impeccable habits every successful entrepreneur, rather successful people, have is the habit of reading.”

PopSockets Endured Astonishing Growth by Focusing on People, Business News Daily. “In 2010, Barnett walked into a fabric store looking to solve a problem and walked out with a multimillion-dollar idea. In three short years, he went from selling 30,000 units from his garage to 35 million – an astonishing growth rate of 71,424 percent.”

 

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