PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Small Business Accelerator: Tips, Trends and Market Intelligence for Entrepreneurs

By at 19 January, 2019, 1:26 pm

Effective Communication and Success

Everyone can work on their communication skills.  Even the best communicators strive to get better. Being a better communicator pays dividends for your business and personal life. As noted in this Inc. article on the power of effective interpersonal communication skills, Warren Buffet is dead on when he explains the weight of its importance:

“In a recent video, Buffett told a young entrepreneur that the way to become worth 50 percent more this year than you were last year is to naturally invest in yourself. More specifically, hone your communication skills, both written and verbal.”

Effective and authentic communication skills come from working on them and maintaining a positive, grateful and supportive attitude. Make sure you surround yourself with positive people to ensure these attributes rub off, or are continually affirmed. I’ve learned to limit my time around negative or bitter people (if I must engage for business purposes or projects, it’s cordial but limited to the time needed to transact) and I am blessed to have a very big network of friends, colleagues and many entrepreneurs and small business owners who continually fuel my positivity. That does not happen by accident – after all, birds of a feather flock together. The law of attraction is real!

If you need to work on your positivity, here are 9 Things Positive People Do Every Single Day from Addicted To Success. Remember, practice makes perfect – or positive in this case!

One of my favorite experts who advises startups is Marty Zwilling, CEO & Founder of Startup Professionals. In a recent blog post, he affirms the importance of effective communication for any entrepreneur who wants to succeed, and reviews six aspects of communication where entrepreneurs must learn to excel.

While effective communication is one key attribute of successful entrepreneurship, there are several others, including a desire to consistently learn and stay on top of the ever-changing marketplace. In that spirit, this week’s Small Business Accelerator provides helpful content in this area, as well as our regular slate of resources that focus on startups and entrepreneurship.

Happy & positive reading!

Karen Kerrigan, President & CEO

 

Sales, Marketing and Branding

5 Retail Lessons from Holiday 2018, Small Business Trends. “Consumer spending for holiday 2018 hit a six-year high of $850 billion according to the Mastercard SpendingPulse report. Online shopping grew 19.1% year over year. Overall, retail spending growth was propelled by strong sales of apparel (up 7.9% from 2017) and home improvement (up 9%). What can retailers take away from this year? Here are 5 things we learned in 2018.”

Prices Ending in .99 Help Online Merchants Sell More, Study Finds, Small Business Trends. “As a business, how you price the products and services you offer will in great part dictate the long-term success of your company. The simple act of pricing something with .00 or .99 can have a considerable impact on the purchasing decision of your customers.”

Email Marketing Metrics You Should Measure, Small Biz Daily. “Email marketing is a constant learning experience; if you don’t pause to learn and improve from your previous email campaign, you will not be utilizing email marketing to its full potential.”

SCORE WEBINAR

The Power of Tiny Marketing Actions

January 24, 2019

1:00 p.m. ET

We often plan marketing in huge tidal waves: large launches, huge social media campaigns and big advertising spends. The truth is, the most powerful marketing is consistent marketing, in tiny little actions every day.

In this webinar, author and business coach Pamela Slim will break down the marketing myths and teach you how to:

● Identify your best marketing channels.

● Choose specific marketing tactics that work for your business and your audience.

● Define a series of Tiny Marketing Actions (TMAs) that you can execute in 15 minutes or less each day.

● Plan and track your TMAs.

Learn more about this event or register for FREE here.

Marketplace Trends

7 Essential Trends that Will Shape Product Design in 2019, CrowdSpring. “Gone are the days when fashion trends could be measured in decades. Or a telephone was a one-time, long-term purchase. Now, new technologies supplant older ones every single year; and, in some cases, even faster. Today’s successful products have an even greater need to differentiate than in prior years.”

Millennials: 1 in 6 Now Have $100,000 Socked Away, CNBC. “Despite many of these young Americans coming of age a decade ago during the worst financial crisis since the Great Depression and despite being saddled with high student loan debt, millennials appear to be getting their financial lives in order and taking money matters more seriously.”

Startups and Entrepreneurship

25 Passive Income Ideas for Entrepreneurs, Small Business Trends. “Passive income is a business strategy that allows you to sell products or services on auto-pilot, so you can essentially earn money without doing extra work. It is understandably becoming increasingly popular with entrepreneurs who want to support a comfortable lifestyle without working seemingly endless hours.”

How Startup Investors Can Utilize AI to Make Smarter Investment Decisions, Forbes. “AI can allow investors to determine how early stage startups will perform and can very quickly create a summation of a startup’s probability for success by analyzing its revenue growth, market size, industry experience, among other factors. It can analyze data to determine what statistics will ultimately result in success.”

Creating the Next Big Startup Takes More Than Just Passion, Startup Professionals. “In summary, the best product or service is a deep-featured one that innovatively meets customer needs, comes with a great total customer experience, puts customers in the driver’s seat, and has a positive societal impact. Then just build a solid plan, find a great team to implement, and execute well to build the next big startup, have fun, and leave a great legacy.” (That’s all there is to it.)

Baby Boomers May Be Your Biggest Startup Competitors, Startup Professionals. “The percent of entrepreneurs who are Baby Boomer starting a business since 1996 has grown from 14.3 percent to 24.3 percent last year…In every one of the last 15 years, Boomers between the ages of 55 and 64 have had a higher rate of entrepreneurial growth than Gen-Y, aged 20–34.”

Small Business Insider

SBE Council’s weekly “Small Business Insider” newsletter keeps entrepreneurs up-to-date on the latest trends, policy, and economic news impacting entrepreneurship and the growth of small businesses!  Sign up here.

 

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