Introduction to Crowdfunding for Entrepreneurs

Last week I wrote a blog entitled, “Need Money? Try Crowdfunding“. The Small Business Administration (SBA) offers many free online training courses to help business owners succeed. One of their latest training videos is called, “Introduction to Crowdfunding for Entrepreneurs.”

SBA’s Office of Entrepreneurship Education provides this self-paced training exercise as an overview of crowdfunding (also commonly referred to as ‘crowd financing’ or ‘crowd sourced capital’). The highlighted next steps at the conclusion of the program will help you apply what you have learned and engage you in the process of crowdfunding.

The course is free, online and takes 30 minutes. If you have time, you can click here to participate – http://www.sba.gov/sba-learning-center/training/491091. System Requirements: Acrobat Reader, Adobe Flash Player. Classes will not play in iOS devices due to Flash limitations.

SBA Announces Winners

I’m all for rooting for others. It gets my entrepreneurial spirit in gear. I always think: If they can do it, so can I.

I mentioned the SBA’s Small Business Week in an earlier blog. If you weren’t able to attend, here’s the information about the winner and runner-up of Small Business Person of the Year.

In my blog, Sometimes Business Owners Need a Pick-Me-Up, I mentioned that hearing positive stories from others like you can spark your flame and get the gears moving againg. Inspirational stories can inspire you to greatness. That’s why we share – so that others can know and feel the excitement and exhuberation of success that we sometimes feel.

Congratulations to John Stonecipher, Noah Leask and Kari Block. Their success and innovations are helping all small business owners. Their success is our success.

To read more about the winners, click here.

National Small Business Week –You Should Go!

Small businesses are the lifeblood of our country. Using the SBA’s definition of a small business – any company that could range up to 1500 employees with receipts up to $21 million – we can see how restaurants, specialty shops, construction companies and wholesalers are helping our economy thrive.

For the first time, National Small Business Week events will be held in multiple cities starting June 17, 2013. The cities below will feature one day of events during National Small Business Week. The week will culminate with the NSBW awards ceremony in Washington, DC. Speaker and schedule information for the events will be updated on a regular basis on these pages – http://www.sba.gov/nsbw/.

The cities are Seattle (June 17), Dallas (June18), St. Louis (June19), Pittsburgh (June 20), and Washington, DC (June21). As part of National Small Business Week, the U.S. Small Business Administration takes the opportunity to highlight the impact of outstanding entrepreneurs, small business owners, and others from all 50 states and U.S. territories.  Every day, they’re working to grow small businesses, create 21st century jobs, drive innovation, and increase America’s global competitiveness.

Every year since 1963, the President of the United States has issued a proclamation announcing National Small Business Week, which recognizes the critical contributions of America’s entrepreneurs and small business owners. More than half of Americans either own or work for a small business, and they create about two out of every three new jobs in the U.S. each year.

Speakers this year include: Karen Mills, SBA Administrator; David Steward, Founder and Chairman, World Wide Technology; and Angie Hicks, Founder and Chief Marketing Officer, Angie’s List.

The event is free, however registration is mandatory. If you live in or near one of these fine cities, you should try to attend.

For more information, visit http://www.sba.gov/nsbw/

Learn How Your Small Business Can Sell To the Government

I’ve written a few blogs on becoming an 8(a) certified small business so we can compete in the  government’s marketplace. Just recently the Small Business Administration (SBA) shared a video on how small business owners can learn how to sell their products or services to the federal government.

The SBA has a Size Standards Tool (http://sba.gov/size-standard-tool)you can use to determine if you qualify as a small business. Before you use the tool, you may want to find the NAICS codes that apply to your area of expertise and business profession. NAICS means, North American Industry Classification System, which is the standard used by Federal statistics agencies in classifying business establishments for the purpose of collecting, analyzing and publishing statistical data related to the US business economy. http://www.census.gov/eos/www/naics/index.html

A couple of other links mentioned in the video to assist small businesses are:

http://sam.gov (System for Award Management)

http://sba.gov/contracting

http://sba.gov/gcclassroom

However, one of the major themes that run through our experiences is networking. Just as any organization, the federal government is a group of people. As the saying goes, “People do business with people,” not with a business. So, make the calls, forge the relationships and work them.

You don’t have to be a large company to sell your products and services to the federal government. You just need to learn how and get to know the right people.

Top 10 Business Tips from Successful Entrepreneurs

If you are a frequent reader of our blogs, you’ll notice that we like to share videos. Since most of us are busier than we’d like to be, it can sometimes be easier to view or even listen to information.

The U.S. Small Business Administration (SBA) and the U.S. Postal Service offer Delivering Success, a video of interviews with successful business owners who share the lessons they have learned about owning a small business.

In this video, several businesses share their tips for business planning and becoming successful.

Thank you to Scottsdale Education Center, Optimal Lifestyles, BKG, Blue Sky Spaworks & Gallery, CakeLove, Savvy Gourmet, Superior Chocolates and Fairytale Brownies for sharing their tips.

What are the top 10 business tip?

  • Get a mentor
  • Test your idea
  • Hire quality
  • Stay on your game
  • Focus on your mission
  • Develop partnerships
  • Plan for the future
  • Set goals
  • Stay focused
  • Protect your brand

Watch the video to hear more in-depth detail about how to utilize these wonder tips.

http://youtu.be/j3bMX8jErDo

 

Do you agree with these tips? What will you add to the list? Let me know what you think.

You Are Never Too Old to Start a Business

Who says you can’t start a business after retiring from your job? Who says you can’t start a business in your later years? The other morning in my inbox I received a great piece of information from the American Association of Retired Persons (AARP). Yes, I receive AARP communications because they have a wealth of information for me and to share with you.

The email contained information on a short, 30-minute online course called, “Encore Entrepreneurs: An Introduction to Starting Your Own Business” which is sponsored by both AARP and the SBA. This course is designed for individuals planning to start a business after earlier career endeavors.

You can view the online course or download and print the text-based accessible version in PDF. Unfortunately, it is not available on all mobile devices, as the presentation is in Adobe Flash.

If you aren’t quite ready to just sit back, relax and enjoy your retirement, consider starting a business. It can even be a small and/or part time. Use at no cost to you, the SBA’s Small Business Learning Center to research and plan out your next new endeavor!

Good luck!

 

SBA Assistance for Women-Owned Businesses

The SBA is a useful resource for small businesses. If there is an office in your area, please take advantage of their services. If meeting face-to-face is difficult, peruse the information they have available online.

If your business is woman-owned and you need business, marketing or financial assistance, then you should visit the “Women-Owned Businesses” area of the Small Business Association’s (SBA) website. Useful information includes:

Starting Your Business

  •  Writing a Business Plan
  •  Registering a Business
  •  Licenses & Permits
  •  Laws & Regulations
  •  Preparing Business Taxes

Growing Your Business

  • Hiring Employees
  • Employee Benefits
  • Employee Incentives
  • Marketing a Business
  • Exporting

Financing Your Business

  • Estimating Start-up Costs
  • Financing Basics

Mentoring & Training

  • Find a Business Mentor
  • Online Training
  • Finding Local Resources
  • Learning about the WOSB Program

Don’t be afraid to seek help when you need it. Use the SBA and their resources whenever you need them. They can help your business grow.

What is a D-U-N-S Number?

The SBA is a useful resource for small businesses. If there is an office in your area, please take advantage of their services. If meeting face-to-face is difficult, peruse the information they have available online.

Before you can bid on government proposals, you need to obtain a Dun & Bradstreet, or D-U-N-S, Number. This is a unique nine-digit identification number for each physical location of your business. D-U-N-S Number assignment is free for all businesses required to register with the federal government for contracts or grants.

What do I need to get my D-U-N-S Number?

When registering for your D-U-N-S Number, you will need the following on hand:

  • Legal name
  • Headquarters name and address for your business
  • Doing Business As (DBA) or other name by which your business is commonly recognized
  • Physical address, city, state and ZIP Code
  • Mailing address (if separate from headquarters and/or physical address)
  • Telephone number
  • Contact name and title
  • Number of employees at your physical location
  • Whether you are a Home-Based Business

How do I get my D-U-N-S Number?

Good news! Getting your D-U-N-S Number is easy. Visit D-U-N-S Request Service to obtain more detailed instructions on applying for your D-U-N-S Number.

Also, see the FAQs for obtaining a D-U-N-S Number and visit Central Contractor Registrations (CCR).

For more information about the D-U-N-S Number, click here for a downloadable document.

Customer Loyalty: Simple Ways to Win Them Over

Do you receive the Sunday newspaper? Where I live, the Sunday newspaper is filled with news and feature articles. It also has an abundance of sales advertisements and coupons. Wal-Mart, KMart, Target… they have the same three products on sale. Which store do you choose?

There is a one-dollar coupon for Wal-Mart, which is closer to your home. You have a 99-cent coupon for KMart, but they have double coupon day. Then the kicker is Target – if you buy four of this product – which is on sale cheaper than the other two – you will also receive a five-dollar gift card at the register.

On yesterday’s SBA.gov blog, guest blogger Rieva Lesonsky is CEO and President of GrowBiz Media discussed “Creating Customer Loyalty Programs.” Some of the ways she mentions are:

  • Distribute rewards cards
  • Offer discount programs
  • Give a gift
  • Create a VIP program
  • Hold events
  • Use mobile apps
  • Get personal

If you are looking for a way to get and keep loyal customers, you must be very creative in the way you market to them. You also must think of ways to reward them for their loyalty. In doing so, they will share their commitment with family and friends, which can create new customers for you.

Click here to see “Creating Customer Loyalty Programs and let me know what you think… – http://www.sba.gov/community/blogs/creating-customer-loyalty-programs.

Build Your Business Plan Online with SBA’s Free Step-by-Step Tool

The SBA is a useful resource for small businesses. If there is an office in your area, please take advantage of their services. If meeting face-to-face is difficult, peruse the information they have available online.

Do you have a business plan?

Most business owners are only required to have a business plan if they are seeking financial assistance from banks or other lenders. However, all business should have a business plan.

A business plan is a road map that sets the direction for your business.  It outlines how you plan to make sales and grow revenue. It sets your business goals, why you believe they are achievable, and it provides detail on how you plan to reach those goals. Additionally, it provides the background information about your business, the owners, employees and other pertinent information.

Business plans are used as decision-making tools and are dynamic as your business grows and goals are achieved. A well-drafted business plan can help you become business credible. A business plan doesn’t guarantee “success” however, it can reduce the odds of failure.

SBA’s Business Plan Tool provides a step-by-step guide to help you get started. Not only can you save your plan as a PDF file, you can also update it at any time, which makes this a living plan to which you can often refer.

The tool can be found here – http://www.sba.gov/business-plan/1.

Below is just one of the many informative videos provided by the SBA.

So what are you waiting for? Get busy!

SBA Announces Contracting Program for Women-Owned Small Businesses

The SBA is a useful resource for small businesses. If there is an office in your area, please take advantage of their services. If meeting face-to-face is difficult, peruse the information they have available online.

If you are a woman-owned small business (the standard size is 500 or fewer), the SBA has a contracting program. The new Women-Owned Small Business (WOSB) Federal Contract Program was fully implemented in 2011, with the first contracts awarded the fourth quarter of fiscal year 2011. Read the excerpt below from the press release in 2011:

“Implementing the Women-Owned Small Business contracting rule has been a top priority for the Obama Administration and SBA,” said Administrator Karen Mills. “Women-owned businesses are one of the fastest growing sectors of the economy. As we continue to look to small businesses to grow, create jobs and lead America into the future, women-owned businesses will play a key role. That’s why providing them with all the tools necessary to compete for and win federal contracts is so important. Federal contracts can provide women-owned small businesses with the oxygen they need to take their business to the next level.”

The WOSB Federal Contract Program will provide greater access to federal contracting opportunities for WOSBs and economically-disadvantaged women-owned small businesses (EDWOSBs). The Program allows contracting officers, for the first time, to set aside specific contracts for certified WOSBs and EDWOSBs and will help federal agencies achieve the existing statutory goal of five percent of federal contracting dollars being awarded to WOSBs.

Every firm that wishes to participate in the WOSB program must meet the eligibility requirements and either self-certify or obtain third party certification. Regardless of their certification method, WOSBs must also upload required documents proving their eligibility to a secure online data repository developed and maintained by SBA.

To qualify as a WOSB, a firm must be at least fifty-one percent owned and controlled by one or more women, and primarily managed by one or more women. The women must be U.S. citizens and the firm must be considered small according to SBA size standards. To be deemed “economically disadvantaged,” a firm’s owners must meet specific financial requirements set forth in the program regulations.

For more information on the Women-Owned Small Business Program or to access the instructions, applications or database, please visit www.sba.gov/wosb.

SBA: Developing a Marketing Plan

The SBA is a useful resource for small businesses. If there is an office in your area, please take advantage of their services. If meeting face-to-face is difficult, peruse the information they have available online.

Developing a Marketing Plan

Marketing takes time, money, and lots of preparation. One of the best ways to prepare yourself is to develop a solid marketing plan. A strong marketing plan will ensure you’re not only sticking to your schedule, but that you’re spending your marketing funds wisely and appropriately.

What can a Marketing Plan do for Your Small Business?

A marketing plan includes everything from understanding your target market and your competitive position in that market, to how you intend to reach that market (your tactics) and differentiate yourself from your competition in order to make a sale.

Your small business marketing budget should be a component of your marketing plan. Essentially, it will outline the costs of how you are going to achieve your marketing goals within a certain timeframe.

If you don’t have the funds to hire a marketing firm or even staff a position in-house, there are resources available to guide you through the process of writing a marketing plan and developing a market budget.

Bend Your Budget When Necessary and Keep an Eye on ROI

Once you have developed your marketing budget, it doesn’t mean that it’s set in stone. There may be times when you need to throw in another unplanned marketing tactic — such as hosting an event or creating a newspaper ad — to help you reach your market more effectively.

Ultimately, it’s more important to determine whether sticking to your budget is helping you achieve your marketing goals and bringing you a return on investment (ROI) than to adhere to a rigid and fixed budget.

That’s why it’s important to include a plan for measuring your spend. Consider what impact certain marketing activities have had on your revenues during a fixed period, such as a business quarter, compared to another time period when you focused your efforts on other tactics. Consider the tactics that worked as well as those that didn’t work. You don’t have to cut the tactics that didn’t work, but you should assess whether you need to give them more time to work or whether the funds are best redirected elsewhere.

Granted, some tactics are hard to measure — such as the efficacy of print collateral (brochures, sales sheets, etc.), but you need to consider the impact of not having these branding staples in your market tool kit before you reign in your graphic design and print funds.

Marketing plans should be maintained on an annual basis, at a minimum. But if you launch a new product or service, take time to revisit your original plan or develop a separate campaign plan that you can add to your main plan as an addendum.

At the end of the day, the time spent developing your marketing plan, is time well spent because it defines how you connect with your customers. And that’s an investment worth making.

Additional Resources

Provides information to help you develop your marketing and plan and review sample marketing plans.

Offers tips to help you research, plan, develop and price marketing campaigns.