PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Business Intelligence: Tips, Trends and Resources for Entrepreneurs

By at 31 December, 2020, 10:19 am

By Karen Kerrigan

COVID-19 RELATED TRENDS & NEWS

6 Ways to Prepare for the Next Round of PPP, Inc.

The refundable loan program aimed at small businesses will be available to both first-time PPP recipients as well as to those who’ve already received a PPP loan but experienced significant revenue losses in 2020. The new law further expands the slate of expenses eligible for forgiveness, and restores the deductibility of PPP expenses, among other things.”

3 Industries Venture Capitalists are Betting on in 2021, Inc.

“Despite the hardships of this year…this seismic shift will create massive opportunities for innovation. Every aspect of our lives has been turned upside down–which provides an opening for entrepreneurs to step in and redefine how we live, earn, and spend.”

The Pulse of Small Business: An Industry Breakdown, SBA Office of Advocacy.

“While economic conditions have improved from the spring, industries impacted the most at the beginning of the pandemic continue to be the hardest hit. The total share of small businesses negatively impacted declined from 51% in the first week of the survey to 29.7% the week of November 16th.”

9 Ways to Make Innovation Happen in This Time of Need, Startup Professionals.

“The current pandemic brings new challenges which need to be addressed. There is no more time for excuses, no reasons to postpone, ignore, or otherwise assassinate innovation in your organization. Whether you manage an entrepreneurial startup or a multinational conglomerate, the pressures are unprecedented. Are you now unleashing your team’s full execution abilities?”

GROWTH WITHOUT BARRIERS: This Week’s Podcast

STARTUPS AND ENTREPRENEURSHIP

Head, Heart and Hands: 3 Essentials for Startup Success, Bplans.

“Thomas Edison famously said, ‘Genius is 1 percent inspiration and 99 percent perspiration.’ Much has changed since Edison’s day, but sweat equity is still the most effective kind of startup capital.”

6 Lessons Most Entrepreneurs Only Learn on the Street, Startup Professionals.

“These street smarts, if you acquire them early, can save you a lifetime of pain. It pays to build relationships with an advisor or mentor, or work in the real business world for a while, before you strike out on your own journey.”

How to Build a Successful Subscription Business Model, Bplan.

“If you’re launching your own online business or need to pivot your business model, you should consider implementing a subscription service. Read on for a full rundown of how to turn traditional software, eCommerce, or a service-based business into a subscription offering.”

8 Business Lessons You Need to Learn Before Repeating, Startup Professionals.

“These are all crucial business lessons that are best learned by reading, not repeating. If you see the symptoms in your own startup, there still may be time for recovery, or it may be time to jump ship before disaster strikes.”

MARKETING AND SALES

SCORE WEBINAR: 2021 Hottest Business Markets Trends

January 7, 2021 – 1:00 p.m. ET

We all know 2020 was not a typical year for small businesses, and the factors that impacted us this year will continue to affect us in 2021.

But, while we’re still facing a lot of unknowns, there are some things we do know. And we’ll discuss them in this webinar.

Join this timely webinar, presented by small business expert and best-selling author Rieva Lesonsky, where you’ll learn about the breakthrough small business ideas and industries that are breaking through and reaching consumers. You’ll find out about America’s changing demographics, attitudes, and consumer behaviors, and how your small business can best adapt and address them, such as:

● The industry that’s soaring right now and how small retailers can take advantage

● How restaurants can transform their operations

● Which consumer behaviors have shifted, and how you can reach those customers

● How COVID-19 has created entrepreneurial opportunities

● How to pivot your small business to address changing consumer demands

Whether you’re a startup entrepreneur or have owned your business for years, you’ll want to learn how you can adjust to and take advantage of today’s changing marketplace.

Learn more, or register for free here.

3 Trends Marketers Can Use to Supercharge Demand in 2021, Inc.

Customer expectations have made a permanent shift, with many expecting more convenience, authenticity, and personalization than ever. Marketers have to embrace these needs if we’re going to represent our brands effectively this coming year.”

Creative Ideas for Local Brands to Run Paid Ads in 2021, Small Biz Daily.

“Though organic marketing strategies such as Search Engine Optimization (SEO) and organic social media strategies work, they take a lot of time to show results. So, if you are looking for a quick boost of traffic and leads for your local business, then paid advertising is something that you should consider.”

5 Simple Tips to Use Video Reviews to Grow Your Business, Small Business Trends.

“Adding simple reviews can increase sales, as 63% of customers are more likely to purchase from a site that has reviews.  Written reviews can help your ecommerce store flourish, especially if your products cost less than $100.”

3 Ways to Better Optimize Your Ecommerce Website, Small Business Trends.

“When your business operates using an ecommerce website, your main goal should be to have your website encourage anyone who visits to make a purchase and then make it as easy as possible for interested parties to complete their transactions. Sadly, not every online business knows the best ways to do this.”

How to Reinvigorate Your Outreach Approach in 2021, Bplans.

“If your bottom line has been hurt by lost clients and revenue, then you need to double down on an outreach approach. Although tweaking your strategy will take some time, it’s an investment that will enrich your value proposition for potential and even current clients. After all, your offering could be exactly what people need to solve their own pain points. Start landing deals again by adjusting your outreach expectations with these 5 steps.”

The 7 Biggest Design Trends for 2021, CrowdSpring.

“In fact, we believe that product packaging design trends this year are more important than ever before. The Covid-19 pandemic has had a huge impact on packaging design and the packaging industry. And, your packaging is not just a selling tool that helps you build a strong brand identity for your business.”

OPERATIONS AND MANAGEMENT

How to Develop Better Foresight to Combat Chaos, Bplans.

“Why is foresight such a crucial ability for leadership during turbulent times? Because good leaders know how to cut through the chaos to focus on what’s important. This ability is even more critical during times of disruption like the pandemic because everyone on the team is experiencing high levels of chaos, emotion, and stress. A calm leader who can cut through the noise and provide direction can ease employees’ minds.”

Should Employers Make the COVID-19 Vaccine Mandatory? Business @Wharton.

“As the effort to immunize Americans against COVID-19 begins, companies are debating whether to make the new vaccine mandatory for employees. But Wharton management professor Iwan Barankay thinks there’s a better way to achieve compliance. He said easing access and applying a bit of social pressure will encourage more employees to get their shots.”

3 Technologies to Help Small Business Adapt in 2021, Small Biz Daily.

“COVID-19 has irreparably changed the way the world does business in less than a year, and it shows no signs of letting up. Small businesses have had a tough journey in 2020 but they are flexible in some ways that larger businesses aren’t. The fact that small businesses are not yet established works to their advantage when it comes to restructuring processes to be more coronavirus-friendly.”

-friendly.”

IRS Issues Standard Mileage Rates for 2021, Internal Revenue Service.

“The Internal Revenue Service today issued the 2021 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.”

Karen Kerrigan is president & CEO of the Small Business & Entrepreneurship Council.

 

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