PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Small Business Accelerator

By at 3 March, 2019, 5:57 pm

Tips, Trends and Market Intelligence for Entrepreneurs

By Karen Kerrigan-

March is Women’s History Month, and at SBE Council we honor the many trail-blazing women entrepreneurs who have disrupted various industries and launched countless startups over the years, which has been critical to boosting America’s innovative know-how, competitiveness and economic dynamism.

According to The 2018 State of Women-Owned Businesses Report by American Express:

●  There are 12.3 million women-owned businesses in the United States. In 1972, when there were only 402,000 women-owned businesses, which was 4.6 percent of all firms.

●  Since 2007, the number of women-owned businesses has increased by 58 percent.

●  In 2017, 1,821 net new women-owned businesses were launched every day. Women of color founded 64 percent of those new businesses.

Thankfully, America is blessed with many resources to help women pursue their dream of business ownership, and successfully grow once they launch. A few of these include the nationwide network of Women Business Development Centers, SCORE, Female Founders Alliance, and many others whose content and events I link to and promote each week.

During the course of the month, my colleagues and I will be celebrating the many women entrepreneurs who have helped to pave the way for the explosive growth in women’s business ownership. Follow along on Twitter @KarenKerrigan @SBE Council, as we share their stories and honor their legacies!

Karen Kerrigan is president & CEO, Small Business & Entrepreneurship Council   

Management and Operations

Beware! 60% of Businesses Lose Their Data Through Printed Security Breaches, Small Business Trends. “According to the Global Print Security Report, 60% of businesses in the UK, US, France, and Germany suffered a print-related data breach in the last year. The data loss related to these breaches costs companies an average of more than $400K. For small businesses, the loss may not come out to this large sum, but nevertheless, they are there.”

Are Your Small Business Hiring Practices Discriminatory? SCORE. “If a job candidate who doesn’t get hired suspects they were rejected for a reason that has nothing to do with their ability do the job, they could sue your business for discrimination in hiring. That’s something no business wants to suffer.”

6 Keys to the Best Social Media Platform for Business, Startup Professionals. “The best marketing programs today for small businesses are the “genius of the AND,” including traditional print and video advertising, complemented by proactive efforts in a selection of the new social media domains. Don’t put all your marketing eggs in one basket.”

Hiring for Your Startup: Do You Play it Safe or Go With Your Gut Feel?, Forbes. “Today it seems to be less about impressive resumes and more about culture fit, but how do you go about finding the talent you need to help grow your business?”

What Small Business Owners Should Stop Doing to Stay Sane

SCORE Webinar – March 5, 2019 – 2:00 p.m. ET

The key to a thriving business is growing profit or the bottom line, not just sales. What if business owners could stop doing unprofitable activities, work less—and make more money?

This webinar, presented by professor, author and speaker Dawn Fotopulos, will identify four key areas where the business owner can shift priorities to improve profitability almost right away—while relieving time burden from their daily activities.

She will explain why and how you should STOP:

●  Ignoring your financial statements – Learn the basics of reading your profit and loss statement.

●  Offering loss leader products or services – Find out how to identify profitable products and services

●  Over-servicing unprofitable customers – Understand who are your profitable and unprofitable customers

●  Ignoring existing customers – Power profits are generated from existing relationships, not new customers. Learn how to grow your high-potential existing customer base to relieve the burden of new customer acquisition.

For more information or to register for FREE, click here.

Startups and Entrepreneurship

Are You Ready to Start a Business This Year?, MSN. “So what types of businesses are currently hot for entrepreneurs?”

Best Dropshipping Products to Sell Online, Small Business Trends. “Dropshipping is the name given to an ecommerce model which enables retailers to purchase products individually from wholesalers, who ship them directly to their customers. Rather than having to fork out hundreds of dollars of large amounts of inventory, retailers simply partner with a drop shipping supplier and list their products for sale. Entrepreneurs can therefore sell items online without having to carry any inventory.”

The Best Platforms to Launch Your E-Commerce Side Hustle, Bank of America. “Take some time to explore all the options. By choosing the solution that best fits your budget, product mix, and target customers, you’ll put your side hustle on the road to success.”

8 Strategies for Winning as a Freelancer or Employee, Startup Professionals. “In essence, as a contractor, you are a consultant who is competing regularly for new work, and you constantly have to differentiate your offering from other candidates, including price. In addition, like an entrepreneur with a new business, you have to factor in all the indirect costs previously covered by employers, including training, health care, and time off for vacations.”

When is the Best Time to Make the Leap from Your Day Job to Entrepreneur? Entrepreneur. “This can be a tough question because there’s no ‘right time’ to make this leap, no one-size-fits-all solution, no checklist to tick off to know, right then and there, that it’s finally time…No, you don’t have a checklist to know ‘you’re ready,’ but you can still use one to know you’ve ‘covered the basics.”

How to Start a Successful Photography Business: The Complete 10 Step Guide (2019), CrowdSpring. “For many people, photography isn’t just a way of capturing a memory. Photography is a fulfilling way to express yourself. It’s a way to interpret the world and make the invisible visible. And for many, it’s a way to make a living.”

Success and Self-Improvement

Surround Yourself with These Three Positive Influencers, Success. “This isn’t about networking with successful people to get ahead, nor is it about surrounding yourself with people who always seem cheerful and happy. It’s about surrounding yourself with people whose positive traits amplify your own. You want to choose people who serve a variety of purposes in your life.”

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