March 2009 - Posts
Where's The Money? Finding Funds For Your Business
In this special edition of "Your Business," we'll take a look at how small business owners are dealing with the credit crisis. See how entrepreneurs are using a variety of alternative funding methods such as peer-to-peer lending, microlending, and angel investing as a replacement to traditional bank loans. Find out what kind of alternative lending strategy would be the best fit for your business and how you can go about securing that much-needed capital.
Panelists
Phil Town, personal investment advisor and author of "Rule #1: The Simple Strategy for Successful Investing in Only 15 Minutes a Week!"
Kenneth Yancey, CEO of the SCORE Association, a national nonprofit organization dedicated to helping small business owners.
Profit Margin: Securing a Loan
Bryan Stevens, principal with Business Borrowers Alliance, provides some added tips on how entrepreneurs can secure a loan for their small business.
Samsung 2263DX
-Dual screen monitor
Fabrik Simpletech [re]Drive
-Energy efficient external hard drive
Kensington Wireless USB Docking Station
- Wireless USB docking station
Logitech Illuminated Keyboard
- Ultra-thin backlit keyboard
Microsoft Explorer Mouse
- State of the art wireless mouse
Source: Inc. Magazine
TripIt.com provides a number of free services to simplify to your busy travel schedule. Registered users can send their flight information, hotel reservations and meeting schedules to TripIt.com and the site will build a master itinerary with maps and directions.
I cleaned out my closet this past weekend and I came across a horrific suit from the 1980s. The shoulder pads were too big, the waist was too small, and the bright orange and green fabric was anything but just right.
The 1980s were not only a frightening time for fashion, the decade also ushered in one of the worst recessions on record -- even worse than the one we find ourselves in now.
So, in an attempt to look on the bright side of life, I'd like to point out that the economy could be in worse shape than it is right now.
It could be 1980.
CONTINUED >>
In these tough economic times entrepreneurs are doing everything they can to stay alive. See how three well-known New York restaurateurs, an Orange County, California bike shop, and a Los Angeles party planner have all reinvented their businesses to survive, and are now thriving in a down economy.
Panelists
--Jennifer Hill, Vice President of Astia, a non-profit organization which helps female entrepreneurs secure funding.
--Paul G. Lewis, serial entrepreneur, founder of four companies, two of which he took public and two of which were acquired by Fortune 500 companies.
Profit Margin: Business Turnaround Tips
Wayne Rivers, co-founder and President of the Family Business Institute and published author, provides advice on how businesses can turn around their fortunes in these difficult economic times.
Elevator Pitch
Jeff Gabriele, CEO of Ingenuity Express pitches U*neaks, patented customizable footwear with windows and socks with content that align with and show through the windows. He is looking for capital to expand distribution channels, purchase additional licenses, and ramp up marketing efforts.
1. Increase the average sale
2. Revise collection schedules
3. Examine all expenses
4. Look into a line of credit
5. Re-negotiate with vendors
Source: SCORE
For small business owners without an IT department, computer troubles can be a huge drain on your resources.
Woopid.com provides thousands of free video tutorials to help you deal with common tech issues. Whether you're having problems with your wireless network, or you just want to learn how to use all the functions on your new cell phone, this site has you covered.
The federal government has been pouring money into failing financial behemoths with what appears to be little to no oversight. Executives at these major financial firms that caused the collapse of the financial system are even getting bonuses for jobs not well done.
But just mention some help for small businesses and the "we-need-scrutiny naysayers" crawl out of the woodwork.
CONTINUED >>
Small Biz Newsmakers: The Tax Debate
Will the Obama Administration's proposed tax plan provide a much-needed boost to the economy, or cripple the small business community? We'll hear from tax experts who state their claims for both sides of the discussion.
Misreading Your Customers
Running a Massachusetts restaurant has been a trial-and-error process for owners Chris DiMambro and Keith Dupuis. The pair tried to upscale their establishment in the past year, but it didn't sit too well with their customers. The Main Street Grille was a popular hangout for sports fans and local residents alike, but new menus, fresh flowers, candles and higher prices actually resulted in a loss of business. The restaurant has now returned to its roots and customers are letting Chris and Keith know they're happy with the change. It's a back to basics approach for the business.
Panelists:
--Jon Chait, Partner with Dace Ventures
--Darren Hardy, Publisher and Editorial Director of SUCCESS Magazine
Learning from the Pros: Recession Survival Tips
Rod Kurtz, Senior Editor for Inc. Magazine discusses strategies that CEO's of successful companies such as Intuit, Zappos, and Whole Foods have used to survive these difficult economic times. Find out how the strategies employed for large companies work can work for your business.
Outright.com is a new service that provides free bookkeeping to small businesses. You can track your expenses, taxes, and invoices all through a web-based program.
1. Domestic production
2. Cleaning services
3. Software
4. Business cards
5. Mobile phone service
Source: BusinessWeek.com
Earlier this week I hosted a panel for NJ Entrepreneur about turning hurdles into opportunities.
The room was filled with entrepreneurs, many of whom said that although the economy is a worry, as business owners they're used to dealing with challenges.
Paul Lewis, a serial entrepreneur who founded four companies (two of which he took public, and two of which were acquired by Fortune 500 companies) is working on his fifth company. He had some heartbreaking but wonderfully inspiring (and quite funny in the way he told them) stories about the many challenges his companies have had to overcome.
CONTINUED >>
I was recently raving to a friend about the wine selection at a local wine shop. He told me he knew about the place and agreed it was top notch, but he also said he no longer shops there.
Turns out my friend feels the wine shop staff is "overly nice."
Huh? I said to myself.
CONTINUED >>
A year ago, Micki Clark had no time to enjoy her Colorado horse ranch. She was too busy commuting 60 miles to Denver to the office of Communiqué, her family owned real estate and marketing firm. When the housing market collapsed, much of Communiqué's business dried up. Clark was forced to take drastic measures to save the business. She got rid of her office space and set up a teleworking system with her employees. Clark is now saving thousands of dollars on overhead as Communiqué's staff communicates via teleconferencing, VoIP, and monthly meetings at a local restaurants. Find out how telecommuting can work for your business.
Panelists
--David Margalit, Deputy Commissioner of the New York City Department of Small Business Services
--Kimberly Weisul, editor of BusinessWeek Smallbiz
--Jeff Zbar, author, columnist, and consultant specializing in home offices and teleworking
Dollars & Sense: Productive Meetings
--Kim Zoller, President & founder of Image Dynamics, a total-solution outsourced training and development resource company, provides some tips for having productive meetings.
Elevator Pitch
--Rosemarie Monaco, founder of CarTatts, designers of vinyl adhesive vehicle graphics for consumers, organizations, and corporations, is looking for capital to license art and pop culture logos, obtain original art, and expand her marketing efforts.
The Small Business Administration is podcasting helpful lectures and speeches on their homepage. You can check out disucssions on topics such as creating a business plan and locating financing.
Western Digital Caviar Green Power Hard Drive
Solio Magnesium Edition Hybrid Charger
Critical Link Edgebox
SoyPrint Cartridge Toner
Dell Optiplex 960 Desktop
Source: Entrepreneur.com
This week my father came to the taping of the show. He's an entrepreneur and an investor. My mother was an entrepreneur. Both of their fathers were entrepreneurs. My brother is one too. And so am I.
Clearly, there's something in our blood.
CONTINUED >>
I know banks are tightening the screws on lending but before you head over to your local loan shark, let's think outside of the business-financing box for a second.
There are a few sources of money we haven't thought about -- credit unions and microlenders.
These are not traditional pathways to money for small businesses, but things are changing.
CONTINUED >>
Protecting intellectual property and new inventions is extremely important for small business owners. Spencer Brown, serial inventor and the founder of Rent-A-Green Box, an eco-friendly moving company, knows something about patents. Over the years he has patented more than 100 of his inventions, and he knows the process as well as anyone. Find out how small business owners can protect their valuable inventions.
Panelists
--Erica Duignan-Minnihan, CEO of Minnihan Consulting which provides financial advisory services to early stage companies looking to raise capital equity for expansion.
--Divya Gugnani, CEO of Behind the Burner, advisor to several startups and established brands, and member of the Board of Directors for Health Plan One.
Learning from the Pros: Tony Hsieh & Craig Newmark
--Tony Hsieh, CEO of Zappos.com, and Craig Newmark, founder Craigslist, discuss the strategies they have employed to take their businesses from tiny Internet startups to international brand names.
Dollars & Sense: Providing Healthcare
--James Gelfand, Senior Manager of Health Policy for the U.S. Chamber of Commerce, talks about how small business owners can provide comprehensive and cost-effective healthcare for their employees.
Elevator Pitch
John and Aly Boyd, co-founders of Cheesecake Aly, Inc., pitch FreeseCake to the panel. Freesecake is a 100% scoopable and freezable cheesecake made with natural dairy products. They are looking for capital to automate their facility and expand their marketing efforts.
1. Personally check finances
2. Background checks for every hire
3. Surprise audits
4. Encourage employee vigilance
5. Mandatory time off for each employee
Source: WSJ.com
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