October 2009 - Posts
Small Biz Newsmakers: Karen Mills, SBA Administrator
President Obama recently outlined his proposal to help small business owners secure funding during these difficult economic times. President Obama urged Congress to increase the maximum size of SBA loans and also pledged to support community banks. Karen Mills, Administrator of the U.S. Small Business Administration, discusses this proposal and other issues currently effecting small business owners.
Community Banks
In response to the increasingly stringent lending policies of commercial banks, some small business owners are turning to community banks to help them survive. We'll meet two entrepreneurs in Westwood, New Jersey who are using their local community bank to help them work through their financial troubles. Find out how a community bank may be able to help you when a larger bank can't, or won't.
Panelists
--Paul Merski, Chief Economist and Director of Federal Tax Policy for the Independent Community Bankers of America
--Norm Brodsky, Inc. Magazine columnist and author of "The Knack: How Street-Smart Entrepreneurs Learn to Handle Whatever Comes Up"
--Susan Steinbrecher, founder and CEO of the management consulting firm Steinbrecher & Associates
Small Biz Inspiration
The owners of Foxy Auto & Truck Repair in North Reading, Massachusetts are definitely not your typical mechanics. See how Sally and Sheila Dawson, two sisters who grew up in their father's auto repair shop, decided to start their own garage right across the street and are finding quick success in a traditionally male dominated business.
40Billion.com is a new peer-to-peer lending site that connects business owners and investors. Simply create a fundraising profile with your company's information and funding needs. Your company can then be viewed by potential investors.
"Never Eat Alone" - Keith Ferrazzi
"Close Like the Pros" - Steve Marx
"Take the Cold Out of Cold Calling" - Sam Richter
"Selling to Big Companies" - Jill Konrath
"Getting to Closed" - Stephan Schiffman
Source: SalesTeamTools.com
Short-term employment is pretty much a given at College Hunks Hauling Junk. Omar Soliman and Nick Friedman started the business as a summer job while they were in college and to this day, most of their employees are students who only work a few months at a time. Despite the abbreviated length of service for many of the men and women, Soliman and Friedman still invest time in hopes of building future leaders. The business' motto is "Let Tomorrow's Leaders Haul Your Junk Today." There are four core values within the company and they are non-negotiable. Each garbage truck is run as a small business and each team decides how to budget their time, energy, etc. The teams are also responsible for referrals, marketing material and the disposal of junk. Employees are entitled to bonuses and they're also encouraged to speak openly about the business and offer up ideas. Soliman and Friedman want to empower their employees for the future.
Panelists
-Harleen Kahlon, General Manager of the Personal Finance division at TheStreet.com
-Robert Walsh, Commission of the New York City Department of Small Business Services
Shine A Light
New Mexico's Sacred Wind Communications has been voted the most inspiring small business in America. The company, which provides communications services to the Navajo Nation, is the winner of the NBC Universal and American Express "Shine a Light" contest. CEO John Badal will join us on set to tell us a little more about his unique business.
Spooky Small Businesses
Halloween is almost here, and in honor of that we'll take a look back at one of the most unique companies ever featured on "Your Business." After years of performing autopsies in the L.A. County Coroner's Office, Vidal Herera founded 1-800-Autopsy, a company that started out doing autopsies, and now does everything from rent props out to Hollywood movies productions and sell fancy couches made out of rebuilt coffins.
Clicky Web Analytics provides real-time feedback to help you monitor your site's traffic. You can track a variety of things such as the number of visitors, how much time is spent on your site, and even see how people were referred to your site.
1. Location and equipment
2. Inventory
3. Salaries and benefits
4. Marketing
5. Professional fees
Source: WSJ.com
Rachel Taylor is an enthusiastic entrepreneur and inventor, but she wasn't getting the kind of sales or exposure with her product, the Clever Clip, that she wanted. Enter AJ Khubani, CEO of Telebrands, the company behind those infamous "As Seen on TV" products like the Ped Egg and the Jupiter Jack. Khubani saw potential in Rachel's Clever Clip and signed her, which means turning over the rights of her Clever Clip to Telebrands to take over sales and marketing, the main component being an "As Seen on TV" commercial and a test marketing campaign. If the commercial test goes well in a few local markets, Telebrands then launches the commercial nationwide and gets the products into stores like Walmart and Target. If the product does well, the inventor gets a small percentage of the sales but sales are frequently in the millions. It may seem like a lopsided agreement, but Khubani takes all of the risk and spends the money upfront and the inventor sits back and cashes the check. We'll follow Rachel through the process of partnering with Telebrands and find out if the commercial test goes well
Panelists
--Divya Gugnani, CEO of Behind the Burner and a former venture capitalist
--Allan Grafman, CEO of All Media Ventures, a consulting and advisory firm for media companies and private equity investors
The Credit Crunch
As the credit crisis wears on, many small business owners are having a hard time finding traditional funding. George Cloutier, CEO of American Management Services, and Todd McCracken, President of The National Small Business Association discuss how the credit crisis is impacting different sources of funding.
Elevator Pitch
Russell Smith pitches the Glare Zapper to the panel. The Glare Zapper is a strip that protects uncomfortable and unsafe glare from distracting drivers while they are driving. Russell is looking to raise capital to expand marketing.
1. Focus on convenience
2. Manage inventory
3. Creative promotions
4. Added value
5. Strategic partnerships
Source: FastUpFront.com
Outright.com provides free web-based bookkeeping services. Registered users can track expenditures, create profit and loss statements, and even prepare their taxes.
Small Biz Makeover
After running a successful design studio in Haiti, Catherine Charlot moved to the United States and started a business creating eco-friendly clothing and accessories out of old clothing, leftover fabric, and even broken umbrellas. While her products have received positive reviews, Catherine is struggling to keep her business afloat in this tough economy. Charlot freelances for other designers to supplement her income, but she would like to figure out how to focus on her own venture. Catherine will sit down with our panel of experts and discuss some helpful strategies to help her boost her business.
Panelists
--Jerry Silberman, founder and CEO Corporate Turnaround, a company that helps small business get out of debt and avoid bankruptcy
--Phil Town, investment advisor and author of "Rule #1: The Simple Strategy for Successful Investing in Only 15 Minutes a Week!"
Dollars & Sense: Securing Government Contracts
Each year the federal government offers billions of dollars in contracts for small businesses. Joseph Jordan, Associate Administrator of Government Contracting and Business Development, provides advice on how small business owners can secure valuable government contracts.
Elevator Pitch
Bill Scott, founder of VisiLift, pitches his VisiLift Elevator to the panel. The VisiLift Elevator is a standardized, integrated elevator built for use in homes. Bill is looking for capital to expand his manufacturing and marketing efforts.
Build a Stronger America is a new initiative launched by the Kauffman Foundation. The site aims to provide a unified voice for small business owners. Registered members have access to the latest entrepreneurial news and can find out about upcoming events that may be of interest.
