Tips from March 15, 2010

The Small Business tips today discuss different types of blog posts to attract visitors and receive comments.

1. Competitions - Read: FREE GIVEAWAYS. Encourage people to comment on your blog to interact, share ideas, or discuss your post, and offer a giveaway for the most insightful comment.
2. Interesting/Quirky Information - Share a unique story or interesting link on your blog, and discuss. Ask your readers if they've heard of your information/link. Encourage a discussion.
3. Debate - Pose two debating topics or opinions to your readers, and let the comments fly. State the facts for each, and again, ask your readers what they think.
4. Lists & Resources - If you are posting a good amount of information with links and resources for your followers, your readers will comment with compliments, or with their own suggestions. For those resources you include, email them to inform them you are including them on your blog. They will most likely leave a thank you comment.
   

Daily Overview: Comments will appear on your blog when you engage your readers. Post useful information. Pose questions. Interact!

We post these small business tips to our employee's Twitter account each day, Monday through Friday. This is a reposting of those tips.

Tips from March 12, 2010

The Small Business tips today discuss employee taxes.

1. If you have employees for your business, a variety of taxes will be withheld from their income. Remind your employees of the taxes upon hiring.
2. Some taxes withheld from employees' pay are: Social Security, FICA, Medicare, and federal and state income taxes.
3. Employees aren't the only ones who have taxes taken out. Businesses and employers must match the FICA and Medicare taxes and pay them along with employees.
4. Don't forget those who are out of work! Businesses are required to pay federal and state unemployment taxes.
   

Daily Overview: Taxes withheld from employers and employee salaries go towards different organizations. Keep this in mind, and look for returns when you file taxes.

We post these small business tips to our employee's Twitter account each day, Monday through Friday. This is a reposting of those tips.

Tax time for small businesses is typically very stressful. With the April 15 deadline approaching, now is the time (if you haven't already) to get started on preparing your taxes. While researching for this week's tax tips and blog, I came across many tax tips that I didn't know about. Check out my Top 10 Tax Tips!

1. File Your Tax Return for Free - The IRS Free File program provides free federal income tax preparation and electronic filing for eligible taxpayers through a partnership between the IRS and the Free File Alliance LLC, a group of private sector tax software companies. Free tax preparation and filing via online software is available to anyone with a 2009 Adjusted Gross Income of $57,000 or less. If that’s you, head to the IRS website and choose from a list of approved tax preparers, and get started. If you aren’t sure which preparer to use, answer a few quick questions and the Free File program will suggest some matching companies. (read more at Precept Law Group)

2. Go Green - Federal and state governments are throwing money at small businesses in the form of tax incentives for environmentally friendly initiatives--from solar panels to energy-efficient washers and dryers. In Georgia, for example, a new Clean Energy Property Tax Credit program will dole out $2.5 million a year over the next five years, says Peter Stathopolous, a director at accounting firm Bennett Thrasher PC in Atlanta. In some states, small-business owners can use green credits to offset both corporate and personal tax bills. For a comprehensive list of incentives, check out the Database for State Incentives for Renewables and Efficiency. (via Forbes.com)

3. Employ Your Children - Doing business with family has its challenges, but at least it comes with a tax benefit or two. Putting Junior on the payroll means he's qualified to begin contributing to a Roth IRA, a smart way for him to start saving for retirement. Another perk: Assuming your boy stays in the business, by putting him on the payroll you are essentially shifting a portion of the company's income into a lower tax bracket--his. You also receive a larger tax deduction for a dependent earning a wage than one who doesn't, notes Richard Dauman, a principle at Bessemer Trust. (via Forbes.com)

4. Deduct Your Business Startup Costs - Every new business incurs start-up costs for a variety of things such as market research, training, and fees paid to consultants, accountants, and attorneys. The good news is that most of those costs are deductible, but the bad news is that the rules for deductibility and timing are not as clear as those for operational expenses. Section 195 of the Internal Revenue Code is the main provision related to the deductibility of start-up costs. According to this section, deductible start-up costs are those that would be deductible if they were incurred by an existing business. (continue reading at The Enrepreneurial Advocate)

5. Depreciation is Your Friend - "Be sure to maximize the depreciation deductions available by using the Section 179 immediate deduction of certain fixed assets and the 50 percent bonus depreciation for purchasing new assets," said Claude A. Titche III, CPA, Tax Partner at Beene Garter in Grand Rapids, Mich. "Quicker depreciation expenses save tax dollars for other important purposes. Remember that you only get to deduct the cost once. A current deduction is better than a deferred deduction." (via Moore Stephens North America Inc.)

6. IRS Resource for Learning About Business Taxes - Bootstrapping entrepreneurs need as many low to no-cost resources as they can get their hands on to start and run their businesses. A good, free resource for start-up tax information to check out is the IRS Virtual Workshop. The surprisingly modern interactive site is designed to help new businesses owners understand federal tax obligations and procedures. Users can choose from nine different lessons. (continue reading at Precept Law Group)

7. Watch Out for Surprises From Out of State - "Small business owners need to review their state filing requirements for income tax, personal property or sales and use tax," advised Joel Rothenberg, CPA, Tax Partner at DiCicco Gulman and Co. in Boston. "The states are very aggressive in enforcing their laws and small business owners need not only be aware of the rules in their home state but determine whether their activities in other states trip a filing requirement." (via Moore Stephens North America Inc.)

8. Check, Check, and Re-Check - Re-examine every purchase, every expense you made in 2009. Make sure you've taken all the business tax deductions you are entitled to: expenses you didn’t record in your ledgers, expenses you didn’t think were deductible, “personal” expenses that qualify as business expenses. Neither the IRS nor your accountant is going to know about a deduction you forgot to take. It's entirely up to you. (via PowerHomeBiz.com)

9. Take Advantage of the New Rules for Business Losses -  "Small business owners need to plan for their net operating losses (NOLs). An election must be made at the time the 2009 tax return is filed to either carryback or carryforward the current year NOL. The taxpayer needs to look at the tax rates and income levels in the prior years. If they were not substantial and income is expected to increase in the future, it may be better to carry the loss forward," said Stacey J. Dell, CPA, Tax Partner at Mohler, Nixon & Williams in Campbell, Calif. (via Moore Stephens North America Inc.)

10. Report Large Cash Payments - Listen up, members of the under-the-table crowd: Cash transactions greater than $10,000 must be reported to the IRS, via Form 8300, say AGH's Blue. That mandate goes for payments with cashier's checks, traveler's checks and money orders as well. Part of the information you'll need to complete a Form 8300 is the social security number of the buyer. (Beware buyers that give you push back--they may not want to be on the IRS' radar screen.) One weird caveat: While selling personal real estate doesn't require a Form 8300 filing, selling a mobile home does. (via Forbes.com)

Finally, one last big THANKS to Kyle Durand, an entrepreneurial adviser and legal expert on all things small business. Kyle has been the source this week for our tips, and has given us great advice to pass along to you. His business, Precept Law, specializes in helping small businesses legally. Find some great tax tips on the Precept Law blog . Visit Kyle Durand at www.entrepreneurialadvocate.com and www.preceptlaw.com , or join his conversation on Twitter at http://twitter.com/kpdurand .

Tips from March 11, 2010

The Small Business tips today discuss types of tax audits.

1. Correspondence Audit: Simple procedure. The IRS requests you to document an item on your return by a specific date. Routine test for compliance.
2. Field Audit: The dreaded audit. IRS asks for documentation of various items on your return and meet with an IRS agent for thorough review of records. Be prepared to answer questions and have all paperwork needed.
3. Taxpayer Compliance Measurement Program Audit: Lengthy and detailed. Document and provide proof for every single item in your return. IRS and Congress use this for research and statistics, and are arbitrary regardless of how careful and perfect your tax return is. 
4. Criminal Investigation Audit: Suspicion of tax evasion. The IRS will try to prove you have purposefully not paid your income taxes. If they are successful, you can face large fines and jail time. If you face this type of audit, you should retain qualified legal counsel.
   

Daily Overview: There are several types of audits, from complex reviews to cover every aspect of your business to simple requests for a survey. Don't panic if you hear you are being audited. Stay calm, find out all the information, and proceed from there.

We post these small business tips to our employee's Twitter account each day, Monday through Friday. This is a reposting of those tips.

Tips from March 10, 2010

Are you collecting the maximum tax breaks from the stimulus law passed last year? Here are the 5 best business tax breaks.

1. Bonus depreciation. Allows a business to deduct 50% of the cost of a new asset in the year it is placed in service.
2. Section 179 expensing. A small business can elect to expense up to $250k of the cost of qualified assets.
3. Net operating losses. Under the new law, most businesses can elect to carry back losses for up to 5 years, instead of the usual 2 years.
4. Discharge of business debt. The stimulus law allows businesses to recognize discharge of indebtedness income over 5 years, rather than all in 2009.
5. Exclusion of gain on the sale of qualified small business stock. Increased to 75% for any gain from a sale between Feb 09 and Jan 11.
   

Daily Overview: Keep the 2009 stimulus law in mind when you are calculating your taxes this year. 

Big thanks to Kyle Durand for his excellent tax advice this week and help in writing today's tips. Need legal advice?  Visit Kyle Durand at www.entrepreneurialadvocate.com and www.preceptlaw.com.

We post these small business tips to our employee's Twitter account each day, Monday through Friday. This is a reposting of those tips.

Tips from March 9, 2010

With many business tax returns due on April 15th, the Small Business tips today discuss common tax return errors and how to avoid them.

1. The most common business tax return error is also the easiest to avoid – make sure the return is signed by a company officer.
2. According to the IRS, the #2 business tax return error is failing to include the correct tax ID number. Is yours correct?
3. Incorrect sequencing or missing forms are easily preventable return errors. Review the instructions for each return one last time.
4. Late or inaccurate election to be treated as an S corporation. This is a big one, because an invalid election will mean your corporation will be subject to double-taxation for the year.
   

Daily Overview: With correct preparation and execution, tax time doesn't have to be stressful. Be prepared, organized, and turn to help if you need it.

Big thanks to Kyle Durand for his excellent tax advice this week and help in writing today's tips. Need legal advice?  Visit Kyle Durand at www.entrepreneurialadvocate.com and www.preceptlaw.com.

We post these small business tips to our employee's Twitter account each day, Monday through Friday. This is a reposting of those tips.

Tips from March 8, 2010

The Small Business tips today discuss tax deductions for small businesses.

1. Business Travel – Deduct your transportation, accommodations, and business-related expenses from your taxes. Combining business and pleasure? Only deduct costs that are business related as long as more than half of your trip is dedicated towards work.
2. Equipment – Need new machines, equipment, or other necessary supplies to keep your business running? Deduct these necessities from your business taxes.
3. Rent – Keeping your business under a roof comes at a cost. Deduct your cost for rent to lower your taxable income.
4. Salaries – What you pay your employees is a necessary expense for your business. Keep records of your employee salaries, and changes throughout the year, and deduct these expenses.

Daily Overview: “Ordinary and necessary” expenses for your business can be deducted from your revenue to reduce your taxable income. Stay organized throughout the year.

We post these small business tips to our employee's Twitter account each day, Monday through Friday. This is a reposting of those tips.

Tips from March 5, 2010

The Small Business tips today discuss handling conflict management.

1. Engage in active listening. There are two sides to every story, and listening to others will help in understanding what the problem is, and open up ways to solve the issue at hand.
2. Pay attention to others. Conflicts involve more than one party. Take the time to listen to both parties, and try to understand where each is coming from.
3. Arrange a meeting between the parties involved in the conflict. A mediation session will allow both parties to confront each other in a controlled setting to talk out their problems.
4. Communicate clearly. A conflict will never be solved without clear, honest, and open communication.
   

Daily Overview: Be a leader when it comes to conflict management and take control of the situation. You will gain respect.

We post these small business tips to our employee's Twitter account each day, Monday through Friday. This is a reposting of those tips.

Tips from March 4, 2010

The Small Business tips today discuss managing emotions when dealing with other people.

1. Emotion= Energy in MOTION. You are expressing outwardly what you are feeling. Once you start, it is hard to stop.
2. Take a step back from a potentially emotionally charged situation. Gather your thoughts, take a deep breath, and decide how to proceed with the situation.
3. Keep a journal. Writing down feelings is a good way to let out how you are feeling emotionally, and to gather your thoughts. It also helps to keep your emotions in check.
4. Talk to those friends and family members that you trust. When you can confide in someone and discuss your true feelings, it helps to express your feelings in a safe way.
   

Daily Overview: Keep your emotions in check, especially at the workplace. Losing your cool can be detrimental to your image.

We post these small business tips to our employee's Twitter account each day, Monday through Friday. This is a reposting of those tips.

We use "people skills" each day during every interaction with others.  Interactions in the workplace generally have a professional manner, and are typically analyzed and scrutinized. Look no further if you desire to boost your personal skills, be confident in the office, connect with others to establish rapport, and understand your reasoning for miscommunication. Follow these Ten Commandments for People Skills in the Workplace.

1. Thou Shall Not Complain
Don't complain! The workplace will be a stressful environment at times. Complaining at work takes away from productivity and invites negativity to take over. At least half of the people you complain to at work will not care, and some could even think that you got what you had coming. If you're frustrated with something while at work, save it for personal time.

2. Thou Shall Smile
Smile and say cheese! Smiling is part of the foundation for outstanding people skills. It shows the world that you are friendly and approachable. Additionally, a little known trick is to smile when you are talking on the phone, especially when making sales calls. Although the person on the other end cannot see the smile, they can hear it through your tone of voice and how you speak.

3. Thou Shall Actively Listen
Be an active listener! Listening is an important part in conversing with others. While one party speaks, the other is listening. While you may hear what others are saying, it does not mean you are actively listening. Hear words, process the information, and react. This is especially important in the workplace. Receiving orders from the bosses requires active listening. You don't want to miss out on any important information!

4. Thou Shall Show Appreciation for Others
Show that you appreciate others! In the workplace, many people typically handle one project. In this scenario, people skills play a major role when dealing with others to achieve a common goal. When a co-worker gives extra effort in a project or piece of work which you have benefited from, it is respectful and important to let them know you appreciate their work. A simple "Thank You" or "Hey great job there" will work. If you want to go above and beyond, inform your superior of his or her work, or take your co-worker out to lunch.

5. Thou Shall Not Forget Names
Don't forget names! Remembering names is important in all aspects of business. When you are trying to close a sale, using the customer's name is a way to remind them that you are paying attention to detail, and them specifically. Name recognition at work is important to make others feel appreciated, wanted, and involved.

6. Thou Shall Go Above and Beyond
Go above and beyond! Have you made any sacrifices for others (customers, clients, or co-workers) lately? Going the extra mile for others in your workplace will not only get more done, but add extra value for your work. Spending an extra five to ten minutes on a project for some extra added touches, or extending a courtesy phone call will show appreciation and your kindness.

7. Thou Shall Never Gossip
Don't gossip! Gossip is a killer in the workplace. Spreading treacherous rumors about a co-worker in order to get ahead or bond with another is detrimental to all. Gossiping tarnishes others' reputations, and separates the cohesiveness of your workforce. Avoid gossip at all costs. You never know who is listening.

8. Thou Shall Not Interrupt
Don't interrupt! In the workplace, many ideas are shared and exchanged between multiple co-workers. Regardless if you believe an idea is excellent or poor, hold your tongue. Interrupting shows very little respect for others. Be polite and allow others to finish their train of thought before commenting on others. Remember, be helpful and do not attack when providing constructive criticism.

9. Thou Shall Be Confident
Be confident! Confidence is key when it comes to interacting with people, especially in the workplace. Meeting with superiors about a big project will get your nerves going, but it is important to not let it show. Be confident in your actions and around people. Hold your head high and be prepared for any and all situations that could be presented to you. Heed this warning: Too much confidence is frowned upon. Be confident, not cocky.

10. Thou Shall Self Assess Thy People Skills
Always evaluate yourself first! Do you know how strong your people skills are? Or how weak? Self assessments help judge your progress with knowing what you can do and how you can relate with others. Additionally, self assessments gauge your skills at the workplace. If you find yourself struggling with your people skills, reflect on these commandments to find out ways to improve.

Use these guidelines when communicating, relating, and speaking with others in the workplace. Mastering your people skills will help with miscommunication or misunderstandings at the workplace. You'll connect with others, establish rapport, handle confrontation professionally, and learn to give constructive criticism effectively. Do you have any pointers on personal skills?

Tips from March 3, 2010

The Small Business tips today discuss nonverbal communication.

1. Smile! Showing your pearly whites invites people to your conversation. It also generates a positive vibe and environment to share ideas.
2. Eye contact is crucial. It shows that you are paying attention to what is going on around you, and that you are listening to the conversation. Eye contact will engage others to interact with you in conversation as well.
3. Stop fidgeting! Nervous hand gestures, such a foot tapping, folding hands over chest, hair twirling, or just anything awkward will generate negativity and uneasiness in others.
4. Nod your head while others are talking.  They will know you are listening, and acknowledging that you understand what is taking place.
   

Daily Overview: You can communicate to the world without speaking. Keep these nonverbal cues in check the next time you are speaking.

We post these small business tips to our employee's Twitter account each day, Monday through Friday. This is a reposting of those tips.

Tips from March 2, 2010

The Small Business tips today discuss how to improve people skills.

1. Pay attention to others. Observe, acknowledge, ask for their opinions and beliefs, and make eye contact.
2. Everyone loves humor. Be clever, make people smile and laugh. They might not remember the joke, but will remember how you made them feel.
3. Don't complain. Spare your grievances. Keep your negativity to yourself to avoid boring others and giving yourself a bad reputation.
4. Be appreciative. Find positives in every situation. Tell people you appreciate them through encouragement, praise, and welcoming gestures.
   

Daily Overview: Improving your people skills well help in creating and enhancing professional and personal relationships.

We post these small business tips to our employee's Twitter account each day, Monday through Friday. This is a reposting of those tips.

Tips from March 1, 2010

The Small Business tips today discuss how to assess people skills.

1. Casual conversation helps bring people skills to light. Take note of various actions, reactions, body language, and topics in a natural setting.
2. Someone's answer to a "what if" question can tell you a lot about them. Ask about real life situations. Remember their reactions and what they'd do in that situation.
3. Watch someone's interaction with others, and gather a group of observers to watch as well. Ask other observers about the interaction to get other, unbiased opinions of how it went.
4. Conduct a self assessment. Ask questions on what people think about themselves: strengths, weaknesses, organization, coaching, listening & communication.
   

Daily Overview: To assess someone's people skills it's best to compare your own observations against what they think of themselves. Communication is a large part of these skills. Take note of these assessments, and work to improve them. Stay tuned tomorrow!

We post these small business tips to our employee's Twitter account each day, Monday through Friday. This is a reposting of those tips.

Tips from February 26, 2010

The Small Business tips today discuss businesses in the art industry to start NOW!

1. Photography: Weddings, graduations, senior portraits, head shots, and more. Photographers are always in need. If you have a great camera and a good artistic, eye, start your own photography business.
   
2. Interior Design: Use your artistic talents and skill to start an interior design business. Take a few classes if you want to brush up on the latest trends. Start on your own home, then use those pictures as an example for your portfolio.
3. Home Entertainment Designer: Many homes are starting to install home entertainment systems. Research popular models and designs and start a business of your own.
4. Take your creative hobbies and turn them into art. Pottery, candles, paintings, and portraits are great pieces of art that have value and can be sold.
   

Daily Overview: The art industry is always thriving. People are constantly redecorating, looking for change, and a way to represent themselves in their atmosphere.

We post these small business tips to our employee's Twitter account each day, Monday through Friday. This is a reposting of those tips.

Starting a small business is an exciting time for entrepreneurs, especially if it is in an industry that they love. Taking a hobby or interest and turning it into a business is a common trend for many entrepreneurs. Having the love and dedication that small business owners need to start their business is important, but you can't make common mistakes to keep your business from success. An important step in starting your own business is knowing your industry.

An industry is defined by Princeton as, "the people or companies engaged in a particular kind of commercial enterprise." It is important to know specifics about your industry for many reasons. Knowing your industry will not only help your business succeed, but also give you an edge on your competition, and provide banks and other lenders information that they need to make an educated decision about loans for your business.

So what do you need to know?

Industry Participants
You need to know who is selling in your industry. Most importantly, you need to know the different types of businesses that are selling in your market. For example, make sure you know whether big name chains are infiltrating your industry, or if smaller businesses are dominating.

Competition
You absolutely must know your competitors. They are the individuals who will either make or break your business. You should know your main competitors and a few specifics of their business. This includes: strengths, weaknesses, products, distribution tendencies, finances, reputation, pricing, and more.

Distribution Patterns
Know every step on the path between suppliers and users. Who uses distribution companies? Manufacturers? Retail stores? Door to door? Telemarketing? Analyze the success rate of each of these different strategies. Also, keep in mind that the Internet has changed the way distribution works. You can find out specifics on different companies through various websites. Additionally, Internet sales have skyrocketed in the past years and have created new distribution channels and processing.

Buying Patterns
Buying patterns include factors or key selling points which lead to a consumer's decision to make a purchase. These factors include: service, support, price, sales staff, training, software, delivery, brands, and reputation. Understand what is working for your industry, and what is not.

Trends
Know what is popular, and what is not. Gain an edge on your competitors by knowing and providing consumers what is desired and wanted right now. Know the environment, especially when the trends change.


Entrepreneurs must have a grasp on their business' industry before opening its doors. You need to know what is working in your industry and what is not, who your competition is and what they offer, and patterns of your consumers.

Tips from February 25, 2010

The Small Business tips today discuss businesses in the health industry to start NOW!

1. Home Health Care: The Baby Boomers are getting older, and so are their parents. Many are turning towards home health care to take care of their parents when times are tough and money is tight.
2. Yoga Studio: The yoga trend is here to stay. Take a class, and get certified to be a yoga teacher. Find out more information at your local gym or park district.
3. Personal Trainer: If you have medicine, physiology, or kinesiology experience, get certified to be a personal trainer. Start your own business and use friends and family as your first clients.
4. Catering/Personal Chef: People need help on dieting who are struggling with their weight. Start a healthy catering business or start a healthy eating business with diet guidelines and healthy recipes.
   

Daily Overview: The health industry will always be around and popular. Capitalize!

We post these small business tips to our employee's Twitter account each day, Monday through Friday. This is a reposting of those tips.

Tips from February 24, 2010

The Small Business tips today discuss businesses in the personal improvement industry to start NOW!

1. Self Improvement: Personal improvement is a growing industry. Whether it is weight, personal problems, or a hobby that needs improvement, reach out to people.
2. Business Consultant: Help others who are struggling with their businesses by providing resources and guidance.
3. Tutor: With colleges getting harder and harder to get into, tutoring is a great field to delve into. If you have an education background, or information on a specific topic, reach out to students.
4. Staffing Agency: Many people lost their jobs and are looking for ways to break back into their industry. If you have many contacts, start a staffing agency.
   

Daily Overview: People are always looking to improve themselves. Reach out and provide help to those who want it.

We post these small business tips to our employee's Twitter account each day, Monday through Friday. This is a reposting of those tips.

Tips from February 23, 2010

The Small Business tips today discuss businesses in the financial industry to start NOW!

1. Small Business Financial Adviser: Help businesses save money by planning, budgeting, & re-evaluating their finances. 
2. Personal Accounting: During the rough economic situation, people are having a hard time adjusting their personal finances.
3. Retirement Consulting/Planning: Baby boomers are preparing to retire. Help them out & give them financial advice.
4. Tax Adviser: Tax time is quickly approaching! Ask family, friends, & community if they need assistance.
   

Daily Overview: People have questions about their finances in this economy. Provide them with answers with your business.

We post these small business tips to our employee's Twitter account each day, Monday through Friday. This is a reposting of those tips.

Tips from February 22, 2010

The Small Business tips today discuss businesses in the technology industry to start NOW!

1. Smartphone Apps: iPhone, Blackberry, Droid, and Google Phones, these smartphones are taking the world by storm. Capitalize on the trend by designing and creating your own app. iPhones alone have over a billion downloads, and thousands of apps. 
2. Software as a Service (SaaS): With small businesses looking to save money, start your own SaaS business today. SaaS deploys software applications across your business so you don't need separate licenses for each computer.
   
3. Education Technology: With the stimulus bill, many schools are receiving new state of the art education tools. One of the most popular are "smart boards" which are interactive white boards. Create new interactive programs, or handle distribution of various education technologies.
4. Website Design: Every business needs a website to establish their web presence on the web. Use your design and web skills to construct websites for various businesses.
   

Daily Overview: Technology is a major part of business and personal life. People are always in need of software, technology upgrades, and new programs.

We post these small business tips to our employee's Twitter account each day, Monday through Friday. This is a reposting of those tips.

The Small Business tips today discuss various forms of financial resources.

1. Your Pocket: If you want to start a business without taking out any loans, you can use your own money. It may be costly for you personally, but the benefits from your business could prove to be a good investment.
2. Friends & Family: Ask those who are close to you for a loan or to invest in your business. It would be a simple way to receive financial resources without going through a bank or other institutions.
   
3. Business Loan: A start up business loan from the bank or a lending institution is a way to receive the funds you need from a local institution. Find out more from your financial advisor or a local bank.
4. Small Business Association: The SBA is available to help small businesses locally. Visit the SBA website for tips and locations in your area.
   

Daily Overview: Obtaining cash to maintain and grow your business is one of the most complex and important ideas for small businesses. Find out more information here.

We post these small business tips to our employee's Twitter account each day, Monday through Friday. This is a reposting of those tips.

Tips from February 11, 2010

The Small Business tips today discuss how to find customers.

1. Chamber of Commerce: Introducing your business at your Chamber of Commerce will give you a start in connecting with other small businesses in your area. Additionally, ask for a link on your Chamber's website to yours about your new business opening. Use the support and organization in your favor to find customers in your area who are passionate about the small business cause.
2. Networking: Use your friends, family members, and business contacts to your advantage. Talk to them about your new business, and ask if there are any contacts they know that you can network with. Don't forget about social networking online as well!
3. Competition: As silly as it sounds, some of the best places to find your customers is by researching your competition. Find out what they are doing wrong, and what their customers are dissatisfied with. Use that to your advantage when starting out on your next marketing campaign.
4. Host an Event: Draw attention to yourself and your business by doing something for others. Hosting an event is simple and you can find great tips about hosting an event here.
   

Daily Overview: The only way you can get customers is to put yourself out there. Network, interact, and plan big!

We post these small business tips to our employee's Twitter account each day, Monday through Friday. This is a reposting of those tips.

Everyone has seen the start-up of a small business in movies or television. It all seems like a piece of cake, right? You take a great idea, find an abandoned location, declare that you're starting a business, and in a few weeks, your business is filled with products, people, and money. In reality, that is never going to happen (unless you're Uncle Jesse from Full House starting up the Smash Club).

Starting a business takes time, and lots of it. When you have a great idea, there's no time to lose. Start acting to launch your business is immediately. Most businesses average a 9-12 month planning and organizing process before opening its doors. Use the timeline below as a guide to track your progress on your start up business.

NOTE: This is a guideline. Every business is different. Use this as a basic template to see our recommendations on what to do for a start-up. Some businesses many not need all these steps. Some may need to delve deeper into certain aspects. Every start up business is unique.

8-12 Months Before Opening Your Doors

1. Choose your business based on an idea, skills, and business focus
2. Research your idea thoroughly
• Target audiences
• Possible locations
• Various markets
• Competition
3. Brainstorm a name for your business; check to see its availability and register
4. Apply for licenses from your city, county, state, and/or industry
5. Find your key advisers
• Bankers (set up budget and business plan)
• Lawyers, attorney (legal purposes)
• Insurance brokers (liabilities for employees)
6. Choose your business location
• Design a layout
• Find out about zoning permits
• Review leases with attorneys
  
7. Look into business organizations for networking and advice
   
• Chamber of Commerce
• Industry associations
• Small Business organizations
• Main Street Groups
8. Determine your business goals and mission statement
   

4-8 Months Before Opening Your Doors

1. Revisit your business plan for revisions and to add to it
• Marketing ideas
• Advertising campaigns
• Social media campaigns
2. Decide on business type (Sole proprietor, Partnership, Corporation, etc)
3. Revisit your banker
• Discuss final budget
• Set up payroll
• Discuss financial obligations
4. Create a petty cash fund for emergency
5. Draft a "back up" plan
   

0-4 Months Before Opening Your Doors

1. Double check business licenses and insurance
2. Arrange movers, Internet installation, telephone installation
3. Open business bank accounts
4. Set up "Grand Opening" marketing and advertising campaigns
• Throughout community
• Chamber of Commerce meetings
• Online announcements
5. Draft employee handbook
   
6. Hire employees
• Write copy for job postings
• Interview employees
7. Contact IRS for Federal Employment ID Number
8. Contact your state for State ID Number
9. Apply for seller's permit
10. Contact state for tax forms, employment requirements
11. Contact state for mandatory posters in the office
• Fair compensation
• Sexual harassment
• Safety
12. Order supplies, office furniture, and equipment
    
13. Determine business specifics (hours, email address, etc)
14. Train employees
15. Set up Website
16. Set up Social Media
• Facebook
• Twitter
• YouTube channel

As stated, every business is different. Take these general guidelines to heart when starting up your business. If you have any business suggestions for start-ups, feel free to comment or shoot me an email for my next start-up blog at cheryl@gowithabc.com.

Tips from February 10, 2010

The Small Business tips today discuss the first things to do when starting a business.

1. Business Plan: You need to plan out how you will operate your business, your financial forecast, strategic business goals, and more. 
2. Hire an Accountant or Financial Adviser: There are many complicated financial issues that go into owning your own business, and these professionals will be able to help you out. 
3. Open a Business Bank Account: Separate your personal and business finances with an organized filing system. Don't forget to keep track of your finances at all times.
4. Join a Support Group: Joining a group, like a local business advice center, Chamber of Commerce, or trade organization will provide you with peer support from others who have been in your shoes before, as well as additional contacts for networking opportunities.
   

Daily Overview: Getting organized and connected are the two things you need to do first when starting a business.

We post these small business tips to our employee's Twitter account each day, Monday through Friday. This is a reposting of those tips.

Tips from February 9, 2010

The Small Business tips today discuss legal issues when starting a small business.

1. Keep legal! Know what the laws are specific to small businesses, but also learn what tax breaks there are! Find more here.
2. Your business should be defined well. Sole proprietor? Partnership? Corporation? What's it matter? Find more here.
3. Bad things happen to businesses too. How can you prepared for unforeseen problems? Business insurance! Find more information here.
4. Your name is your brand, protection is important. Copyright, trademark? Which do you use and why? Find out more information here.
   

Daily Overview: Legal issues can be complicated for new entrepreneurs. Preparing ahead of time = protection! Find more information about various legal issues here.

We post these small business tips to our employee's Twitter account each day, Monday through Friday. This is a reposting of those tips.

Tips from February 8, 2010

The Small Business tips today discuss types of business to start that are economy-specific.

1. Debt Collection: A very unpleasant job to say the least, but in a tight economy, bills go unpaid and there is always a need for debt collectors.
2. Job Search Agency: Are you personable? Outgoing? Have a number of contacts in your industry? This could prove to be a great business to start
3. Computer Security: If you're computer savvy, look into this industry. You would be protecting networks and systems against unauthorized use and abuse.
4. Energy Auditors: A great job for the green-friendly people. Businesses and homes need help to save money by reducing energy costs.
   

Daily Overview: Start a job that this economy NEEDS. Find your niche based on your experience and get started!

We post these small business tips to our employee's Twitter account each day, Monday through Friday. This is a reposting of those tips.

Retail shops are one of the most common small businesses in America today. To compete with the other boutiques, mom & pop shops, and, yes, even retail chain stores, it is important to appeal visually to your customers. An appealing and motivating storefront window will grab people's attention and attract them to your store. Let's take a closer look.

Recognition
To make a name for your business, you need to be recognized by customers, potential customers, or people who were referred to your business. Without being recognized, who will notice you? You need a few simple things to be recognized.

• Business Name- Stating the obvious, your business name must be prominently displayed for all to see.
• Logo- Your logo is what will help people "brand" your image in their brain. More on logo's in a bit.
• Business Information- Don't go too overboard with using your business information as a part of your storefront design. It is important to have your store hours, address, phone number, email address, and/or website on your storefront for simple information. This information is typically on the door to businesses, but it is important to be there nonetheless. Make sure it is professionally constructed, and that all the information is current.

Enticement
What you display in your storefront windows is what people outside will know, understand, and see about your business. There needs to be enticement, or something to lure customers in your business, as a part of your storefront window display. The goal of your storefront window is to get people to act upon their feelings that you evoke from your display. You must create a need for people to get curious about your store and want to enter.

• Logo- Each business needs to have a logo, regardless of how simple or complex it is. Your logo should be unique, brand your business, and easy to recognize. Find more tips on creating a logo here.
• Product Placement- Your storefront window should give a sample of what you are providing inside your business. Having a few of your products in your window is a good way to entice customers to enter. Include a wide variety of products: fairly inexpensive, costly, new shipments, sale items, and best sellers. The most important product in your storefront window is the one that sets you apart from other stores.
• Aesthetic- Your storefront display needs to be pleasing to the eye. Spacing, colors, design, and layout are all important factors. Glass shelves are a great way to blend in with the glass for the storefront window. Also, you could try to hang various parts of your display from the top of your window ledge with just a few hooks and fishwire. Create a theme for your design so that the colors and layout will coordinate with your products.
• Keep Your Display Unique- People will notice any changes in your storefront display. It is important to make it unique to you and anything important going on in your business or in the world around you. Change it up for holidays, big events, important sales, and season. Make sure to meticulously plan your next design before you start to deconstruct your old display. Don't forget: changing your window is a free advertisement.

Storefront window displays can be an excellent first impression on a potential customer if you plan, design, and execute correctly. Plan ahead, show off all the right stuff, and lure your customers in the store with your logo, product placement, and design. Get creative!

Tips from February 5, 2010

The Small Business tips today discuss common public relations (PR) mistakes.

1. Poorly Written Press Releases: Incorrect format, improper grammar and punctuation, and misspelled words contribute to a poorly written and structured press release. Don't send something out to the public and media that is not grammatically correct. 
2. Over-Hype: Hype and excitement is important, but too much is over dramatic and will draw negative attention towards your PR campaigns.
3. No Purpose: Press releases announcing petty, unimportant things related to your business doesn't convey a positive image and people will stop listening to you.
4. No Plan: Releasing a press release to the public without a proper follow up plan is a huge mistake. You need to know what to do to proceed, who to direct questions to, and have a backup plan.
   

Daily Overview: Sending out poor press releases for the wrong reasons with no plan will turn your campaign into total disaster. Avoid this by strategic thinking, processing, and planning ahead.

We post these small business tips to our employee's Twitter account each day, Monday through Friday. This is a reposting of those tips.

Tips from February 4, 2010

The Small Business tips today discuss common marketing mistakes.

1. Weak Message: It takes people a few minutes and thought to figure out the marketing message you are trying to send. 
2. Focus On You: Talk only about your products, services, and business rather than what you can do for clients.
3. No Call to Action: You attract potential customers to be interested, but do not motivate them to act on their needs and wants and bring revenue to your business.
4. Lack of Follow Up: You receive a potential customer's contact information, but store it instead of following up and close the sale.
   

Daily Overview: A vague advertisement with little motivation and follow up is no way to market to customers. Avoid this by engaging with consumers, strong marketing collateral, and following up. More next week.

We post these small business tips to our employee's Twitter account each day, Monday through Friday. This is a reposting of those tips.

Everyone makes mistakes. For businesses, mistakes can be the deciding factor for staying in business or closing their doors forever. Many novice small business owners make the same mistakes within the first year of opening their business that causes them to have to close down. Find the top five mistakes and what you can do to prevent them below.

Mistake #1) Putting Your Heart & Soul Into Your Business, But NOT Your Head
It takes  great deal of passion to start a small business. In fact, many small businesses are a result of a passionate idea or organization. It is important to have the strong feeling to get the business off the ground. Unfortunately, that is not enough. As much passion and drive you have for your business, it is important to also think about other factors for your business, especially your finances. Passion doesn’t pay the bills. You need to have a plan from the get-go to be able to determine if you business is simply a passion-driven idea, or something that is lucrative and will be able to keep its doors open. Talk to a business consultant, Chamber of Commerce, or network with other small business owners to have a resource and guidance for starting up a small business. Your heart and head need to work together.

Mistake #2) Inaccurate Financial Planning
It is every new business owner’s dream to have the cash flowing as soon as you open the doors. Reality is, that doesn’t always happen. Cash flow is essential to having a successful business, and it starts from when you start the process of opening your business. Aside from the start up costs of finding a building, purchasing or manufacturing products, and hiring employees, you need to keep in mind that there are other factors in determining costs and cash flow. One of the most important aspects of planning for your business financially is building a customer base. Without one, you will have no incoming cash flow or profit, and more than likely will have to close your doors. Building a customer base is not an easy task and takes time and energy. Experts suggest having at least six months of cash saved on reserve in case of hardship for your business. It is better to plan ahead for problems and have money saved in the back in case of emergency. Lack of plans could lead to the lack of your business.

Mistake #3) Going into Business Blind
So, you have an idea for your business, a great idea in fact, money for start up, and money set aside for hardship. If you think you’re good to go, think again. One of the biggest mistakes new small businesses make is going into business without knowledge of your market. It is vital to do simple market research. Before choosing a location for your business, you should do some investigating. Find out about the community where you want to start your business: trends, socioeconomic information, demographics, and most importantly, where your competition is. Remember, pricing and product placement is important. Once you find the area you want to set up camp, delve deeper into the community. Start attending Chamber of Commerce meetings. Get to know other local small business owners to network. Infiltrate yourself into the community in a positive manner.

Mistake #4) Not Knowing Your Business
You NEED to know your business. This is more than just phone number, address, and other contact information. Your "elevator pitch," a two minute summary and attention grabber about your business to a potential customer, is important to have. It is not necessary to memorize your elevator pitch, but you should know it well enough to be able to tell others at a moment's notice. Business cards are important to have on you at all times when opening a new business. Also, think ahead of possible questions that people might ask you. Know the answers to those questions. Your business' history is equally as important. Remember that you got into your business and opened it for a reason. Channel your passion for your business when talking about your business. Don't lose sight of what moves you.

Mistake #5) Not Assuming the Role of Small Business Owner
Having a job is one thing, and owning a small business is completely different. Owning a small business is more than a job. You need a completely different set of skills to own and run your own business than you need to perform well at a job. First and foremost, you need an entrepreneurial heart, goals, and the ability to dream big. Unfortunately, it doesn't end there. There are many technical aspects that small business owners need to know, including how to keep finances, legal issues, and employment issues. You can learn these entrepreneurial skills by networking with other small business owners, reading entrepreneurial based books, or talking to small business counselors.

Using your heart and your head are important when opening a small business. You need the passion to keep your business going, especially during the rough times. You need a business mind and entrepreneurial skills to keep your business open. Many small businesses fail within the first year, most of which because they make one of these five mistakes. Take measures to prepare for these mistakes in advance, and avoid them at all costs.

Wal-Mart has set on an endeavor to break into the Chicago retail market yet again. A location has been proposed in Chatham, a town on the South Side of Chicago, for a second Wal-Mart within Chicago city limits. There are people that have voiced their opinions against Wal-Mart. Some believe that there will be no tax revenue for the city, no net job increase, Wal-Mart will drive down wages, and, most importantly, destroy local businesses. Wal-Mart and its allies refute the accusations, saying that the neighborhood and its area residents should be the ones who decide on the fate of the mega mart. Truthfully, the South and West sides of Chicago don't have very many options for their necessities and few resources. The Chatham Wal-Mart is one of the suggested solutions.

The Story
All businesses, including ones that are already established, need to have support to get the business started on the right foot. This can be done through public relations, marketing efforts, words of mouth, or through community groups.Wal-Mart created an online group in favor of the big box store opening in Chatham , but after taking a closer look, the "group" turned out to be nothing but a PR ploy from the Chicago Chamber of Commerce and a consulting firm in the Chicagoland area.

The imaginary community group was discovered by Chicagoist writer Kevin Robinson, after writing several articles discussing the new Wal-Mart. Finally, after much investigation, Robertson produced evidence of the false group and made it public on the Internet. His investigation started with an individual who would leave comments on his blog under then name "Chatham." Chatham would repeatedly read Robinson's blogs and comment in favor of the new Chicagoland Wal-Mart. Additionally. Chatham would lash out at strangers leaving comments that differed from his opinions. Finally, after a regular commentator accused Chatham of being a "paid Wal-Mart/Daley, PR spammer," Robinson took the investigation into his own hands.

After tracing the URL that was associated with Chatham's name, Robinson found himself at Our Community, Our Choice, a website which promoted the opening of a Wal-Mart in Chatham, which noted that it was supported by the Chicagoland Chamber of Commerce. Delving further Robinson contacted the email address associated with Chatham's comments, and traced the IP address to Serafin and Associates, a Chicagoland consulting firm that manages the PR for Wal-mart's campaign in the area.

Robinson contacted multiple people, one of which being the Regional Director of Media Relations for Wal-Mart, Tara Stewart. She would only answer five written questions from Robinson regarding the issues, and since the Chicagoist only does interviews face to face, Stewart resulted in a dead end.

Robinson was directed to the Government Relations Director at the Chicagoland Chamber of Commerce, Michael Mini. The interview proved to answer more questions than Mini answered himself. Mini reaffirmed the position for Our Community, Our Choice, which is their "advocacy to gain support," and it was "set up as a way to communicate with people." Furthermore, Mini admitted that he was not surprised thatSerafin and Associates were using their IP address to make such comments on his blog, but couldn't comment on why he didn't find it surprising. The most surprising comment came after Robinson asked Mini if he lives inChatham, or Chicago for that matter. He could only say, "no comment."

What This Means
America’s Best Companies was founded on the belief that small businesses are the backbone of the American economy. In Chicago, right in ABC’s backyard, the addition of another big box store could prove to be detrimental to the small businesses in the area. Local stores, boutiques, and mom & pop shops would be eliminated by the big-box store, therefore costing hundreds of Chicagoans their jobs. Chicago’s rich culture is filled with small shops and unique businesses, which might be lost with an addition like this. We need to ensure that small businesses stay in business, continue to flourish and boost our economy.

The bottom line here is that Wal-Mart's sleazy campaigning and promoting strategies is getting the big-box store nowhere. The negative press that they are receiving for Robinson's work is astounding, with much thanks to the Internet. TheChicagoist article has been tweeted, linked to, and mentioned in many blogs and articles since its release last week. The Internet has proven yet again to be a tool for getting the word out, and hopefully the word will spread so a secondWal-Mart is not built in Chicagoland thanks to an imaginary group to promote the big-box.

Tips from February 3, 2010

The Small Business tips today discuss common social media mistakes.

1. Incomplete Profile: People won't know who you are or be able to find things in common to make a connection or network.
   
2. Fake Friending/Following: One way relationships on social media is an awful way to network. Create a two way relationship with REAL people that you want to get to know. 
3. Selling by Spamming: Bombarding your business pushes customers away. No relationship? No clients. Connect first, promote later.
4. Lack of Measurement: You need to measure so your business doesn't put time & energy in campaigns that are failing.

Daily Overview: Creating one way relationships is the biggest mistake businesses in social media make. Avoid this by an active profile, creating two way relationships, and gauging what works.

We post these small business tips to our employee's Twitter account each day, Monday through Friday. This is a reposting of those tips.

Tips from February 2, 2010

The Small Business tips today discuss common SEO mistakes.

1. Duplicating Content: Your content is plagiarized, and not original. You lose the optimization of the words on your website if they are not original.
2. Poor Design & Usability: Broken links are killers for SEO. Come up with a creative, yet useful design that your visitors will be able to navigate.
3. Same Meta Description on Each Page: To the SEO world, your websites have the same content. Your meta description should be specific and unique to every page.
4. Over-stuffing Keywords: You are essentially spamming your own website, as it becomes unreadable in SEO terms. This could get you blocked/banned from some search engines or sites, such as Google.
   

Daily Overview: Trying to manipulate SEO to get your website better rankings leads to many mistakes and poor rankings. Avoid this by having a knowledge of the SEO world, track your website, and fixing keywords and meta tags.

We post these small business tips to our employee's Twitter account each day, Monday through Friday. This is a reposting of those tips.

Tips from February 1, 2010

The Small Business tips today discuss common website mistakes.

1. Poor Maintenance: Broken links, "404 file not found" error messages, and links leading to the wrong place is frustrating for your website visitors.
   
2. No Contact Information: A website is important for every business, and lacking contact information is detrimental. Address, email, and phone number are crucial.
3. Poor Navigation: Dead pages, no links to your homepage, and disabling the back button on your browser is not only frustrating for visitors but also for web designers.
   
4. Outdated Information: Old business hours and addresses are misleading to website visitors and potential customers. Old information hurts business, not encourage it.
   

Daily Overview: Poor upkeep & maintenance are the two biggest mistakes businesses make for their website. Avoid this by testing your website and updating information.

We post these small business tips to our employee's Twitter account each day, Monday through Friday. This is a reposting of those tips.

Tips from January 29, 2010

The Small Business tips today discuss marketing to Generation Y via incentives, instant gratification, & innovative new products.

1. Generation Y is a big fan of free gifts or free trials. They are open to try new things, especially if they are free. Gen Yers don't appreciate or value the dollar, but they are big fans of free products.
2. New products that help Gen Yers interact, organize, & stay connected are hot items. In fact, Gen Yers expect and appreciate products that will work to their advantage.
3. Gen Yers appreciate & will take part in incentive deals. Buy one get one half off deals catch their eye. With little careful spending habits, Gen Yers will actually purchase more to receive savings.
4. Impulse purchasing is a frequent habit of Generation Y. Instead of going to the store knowing what they need or want, Gen Yers will browse and impulsively buy something they did not necessarily need. They crave instant gratification.
   

Daily Overview: Gen Yers like products that are new, popular, and will help their lives. Give them a free trial, and they could be hooked for good.

We post these small business tips to our employee's Twitter account each day, Monday through Friday. This is a reposting of those tips.

Sometimes known as the Millennials, Connecteds and Unreachables, Generation Y is compromised of individuals in their 20s and younger, or born in 1982 or later. They are an important generation to understand because they are comprised of 71 million Americans who spend over 200 billion dollars annually. They're taking over the Baby Boomers as the largest percentage of the working world. Gen Yers are hard to reach as a whole, yet one of the largest markets to make purchases. The best way to market to Generation Y is to not market to them, instead, establish a connection.

As a Gen Yer, I can tell you that we are a very unique group to understand, and an even more complicated group to know how to market to. Gen Yers are a product of Baby Boomers, and we were raised in a different way than any other generation. Baby Boomers raised us to be optimistic, live our lives first and work second, and that we can do and be anything we want to. Talk about optimism! Now that Gen Y is older, it is becoming increasingly difficult to market to this generation because of how they were raised.

So, how do you market to them?

1. Establish a Connection. Businesses will never get anywhere with Generation Y unless they communicate to them directly and specifically. Talking at them will do no good. A connection has to be made. Start a conversation, reach out to Gen Y and ask them what they want.
2. Cater to Gen Y. When you want Gen Y to buy into products and services, these elements have to fit certain qualifications. There must be a minimal cost (Gen Y have a "free spending" attitude, but not much money to spend), good quality (they won't pay for something that won't last), fast service (time is very valuable for Gen Y; don't waste any) and provide an experience (give them something worth remembering and talking about).
3. Be Authentic. Gen Y has experienced 9/11, wars and in addition to nearly every marketing scheme in the book. They will know what is real and what is not when presented with your marketing. Be genuine.
4. Get Endorsed by Their Friends. Gen Y listens to businesses to a degree, but the majority of them listen to the media and celebrities for what is popular. Also highly regarded are their social networks, their friends and other internet friends. Getting the seal of approval from who they listen to will help reach Generation Y.
5. Be Connected. Social media is a key communication tool and almost a way of life for Gen Y. If you have a good product they'll tweet about it. If you have a bad product then you can expect to see rants on Facebook statuses. Stay connected to Gen Yers by making a Facebook Fan Page and a Twitter account to reach out to this generation.
6. Engage Gen Y. Street teams are becoming increasingly popular for ways to interact with Gen Y. Get out into the world, approach them, and make the connection by communicating.
   

Companies Who've Successfully Marketed to Gen Y

Let's take a look at what companies have successfully marketed to Gen Yers in the past decade. Apple, Trader Joes, Mountain Dew, and Red Bull are just a few companies that come to my mind.

Apple clearly understands how to market to Gen Y. With the development of the iPod, iTunes, iPhone, and Mac, they reached out to Generation Y. Apple offers trendy gadgets with a "new" version of the products every few months or so, keeping up with the trends and Gen Yers "having to have" it. Also, iTunes gave Gen Yers music almost instantly for a low price to put on their iPods.

Red Bull is another business that understands Gen Y. You can see Red Bull representatives driving through towns, especially college campuses, promoting the energy drink with a uniquely decorated car featuring a giant bull and can on the top. Red Bull uses street teams to get Gen Yers excited about their product and hands out free cans and gets involved. Seeing the Red Bull car triggers excitement for a free can. Red Bull evokes the excitement by being labeled as a trendy and exciting product among Gen Y.

As a Gen Yer, I will be brutally honest. I DVR my favorite TV shows just so I can fast forward through my favorite commercials. I listen to my iPod in the car, and if by chance I am listening to the radio, I change the station once I hear a commercial. The way to market to me? Get my attention. Do something that I will remember. Communicate to me by giving me what I want instead of what you think I want.

Tips from January 28, 2010

The Small Business tips today discuss marketing to Generation Y via word of mouth.

1. Generation Y wants an "experience" when they try out a new product. This can be done easily with a street team handing out free samples to promote your business and product. Get them involved than simply trying a new product and get them talking.
   
2. Gen Yers want the new, trendy, cool thing to have. Once they get something that they think is cool or new, they will talk about it and spread the word. Create the angle that YOUR product/service is something that everyone wants to have.
   
3. Gen Yers are likely to accept something that is sprung upon them. A street team who approaches Gen Yers are likely to try a product and be involved. Interact with them, and make the first step to reach out to them.
4. Social media is a big channel for word of mouth marketing. Tweets and Facebook statuses are crucial for spreading popular trends and experiences with products. Don't forget this channel!
   

Daily Overview: Approach Gen Yers in a "I've got something cool you MUST try & have" attitude. Communicate to them that you have something that you know they will like, and other people will like.

We post these small business tips to our employee's Twitter account each day, Monday through Friday. This is a reposting of those tips.

Tips from January 27, 2010

The Small Business tips today discuss marketing to Generation Y via print media.

1. Generation Y is unique, as in they are attracted to those ads that are wild, unique, and catchy. Something typical but with a catchy slogan will not grab their attention. The action and focal point needs to be BIG.
2. Gen Yers are more likely to listen to ads that involve people of their age or generation that they can relate to. Try to tie in the sense of "I understand you" when targeting Gen Yers.
3. Forget newspapers for Gen Y. Magazines are the most popular print media that they will connect with, read, or even care about. Magazines tend to have celebrities on the cover and lure Gen Y with fashion, advice, and trends. Advertisements in this medium are likely to be seen. 
4. Gen Yers value their technology and computers. Remember this when printing your ads. If possible, make your ads formatted to be able to work online as well.
   

Daily Overview: Gen Yers turn to magazines for their print media. The bigger the celebrity or gossip on the cover, the more popular the magazine will be. Look to advertise in the popular youth magazines first.

Tips from January 26, 2010

The Small Business tips today discuss marketing to Generation Y via mainstream media.

1. Generation Y follow celebrities. When they see their favorite actor endorsing a product or service, they will pay more attention. Keep this in mind when you are trying to reach them through mainstream media. Familiar faces mean more attention.
2. Gen Yers don't watch the news as much as other generations. They news get their news from MTV, websites, social media, or others. If you're going to market to them via TV, make sure it is on a channel that appeals to the younger generations. 
3. To market to Gen Y, it is important to have an emotional connection with them. You need to create a sense of belonging to attract their attention. Use Gen Yers in your ads to depict your product/service as trendy, hip, or that "everyone is doing it."
4. Gen Yers go see movies frequently. Check out your local movie theater and see if they have advertisements during the previews (many theaters nowadays do).
   

Daily Overview: Mainstream media is a great place to market to Gen Y as they follow the popular trends and crave the emotional connection.

We post these small business tips to our employee's Twitter account each day, Monday through Friday. This is a reposting of those tips.

Tips from January 25, 2010

The Small Business tips today discuss marketing to Generation Y via social media.

1. Generation Y is always online, always connected, and always involved. Their primary form of communication is online and they would rather connect with each other through gadgets than in person.
2. Gen Yers are heavily into Facebook and MySpace. They update their page frequently and visit these pages often. This is where to start when targeting Gen Yers in social media.
3. Chat rooms are another place that Gen Yers are found. They communicate frequently online via computers or other gadgets, like a cell phone. Chat rooms are a great place to get Gen Yers buzzing about your product or service.
   
4. Gen Y is the first generation to grow up with social media and the Internet at their fingertips. They know the Internet the best. Gen Yers hate being sent garbage email, spam tweets, or Facebook viruses.
   

Daily Overview: Use social media to market to Gen Y by being active. Create the relationship with them. They ARE out there. Offer fun, and they will respond to you.

We post these small business tips to our employee's Twitter account each day, Monday through Friday. This is a reposting of those tips.

A majority of Americans have the same few resolutions when the new year rolls around: lose weight, eat healthy, spend more time with family and friends. If you are a small business owner, you NEED to have resolutions for your business as well. With high hopes for the economy in 2010, contribute to your small business' hard work for success this year by abiding these three resolutions.

1. Push for Progress
A new year brings new beginnings, new policies, new goals and new habits. In 2010, push yourself and your employees for success and progress. For small business owners, this means clearly planning assignments, projects, and objectives. Communicate to your employees what you expect from them before pursuing any project. Also, small business owners should take control of progress by conducting multiple mini reviews throughout the course of the year. Reviews help small business owners communicate to their employees what they are doing right, what they should be doing, and how they can improve. Provide constructive criticism in a way that is not condescending. For employees, take responsibility for your work. Be attentive and productive. Work hard independently, and know what is required of you before embarking on a project. Work efficiently, but complete the work accurately and completely. Take reviews and critiques seriously. Constructive criticism is important and very valuable information as an employee. Receiving praise for great work and things to work on are excellent ways to encourage hard work and progress.

2. Prioritize
It's pretty safe to say that a small business that is not organized will not be successful. Organization is key, and prioritizing is the first step. Even the simplest things need to be prioritized, such as checking emails, calling clients back, balancing the checkbook, and specific projects. Set a schedule for yourself and plan out your day, every day. Having a set schedule will help you realize where you are wasting time, and what you can do to change your habits and be more productive. For example, while it is important to check your social media sites for your business, it is not important to check up on your chickens and cows on Farmville . Keeping an orderly schedule will not only help you use your time efficiently, but you will get more stuff done and keep your company continually progressing (see #1).

3. Stop Procrastinating
There really is no time like the present. Procrastinating is a habit that most Americans have, and it is one that you CAN change. Start off by learning how to manage your time and prioritize (see #2). Once you can master these skills, you are well on your way. As a small business owner, there must be things that you have always wanted to do but have been putting them off for various reasons: not enough time, not enough money, unsure of the outcome, fear of doing something big. Conquer that fear. Living one day at a time is important, but so is not regretting what you should have done. Move to a bigger space. Expand your product line. Increase services. Take time off work and go on vacation with your family. Stop talking, planning, and thinking. Do it!

As you've noticed, resolution number three depends on number two, and number two depends on number one. Essentially, once you make the decision to start pushing your business towards progress and success, you can start to work on prioritizing and procrastinating. All three of these resolutions will help your business, your employees, and yourself.

My 2010 resolution for America's Best Companies is to write about what YOU want to hear, and to give you clear, useful, and exciting information. Feel free to email me, cheryl@gowithabc.com, with suggestions, questions, complaints (I'm not perfect), or ideas. Happy 2010!