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5 Steps to Practice Safe Crowdfunding

August 5, 2014

Money doesn’t grow on trees. Hard work is the key to success. You would be hard pressed to find someone who hadn’t heard these lines growing up. But some of these erstwhile truisms need altering ever since online crowdfunding has taken the world by storm. For a case in point, look at the man who managed to raise more than $50,000 on Indiegogo to make potato salad. Potato salad! He raised $49,990 more than his $10 goal.

This example is to illustrate that people on the Internet have money to spend. But unlike a simplistic campaign that goes viral, designing a legitimate campaign is hard work. If you are looking to raise capital to launch a product, then crowdfunding might be right for you; and with a little patience, and by following the steps below, it will have definitely been worth the effort. You’ll be practicing safe crowdfunding in no time!

Step 1: Identify your intellectual property

First things first: identify your intellectual property (IP). IP is not limited to the tech industry; any and every company has IP, including yours. Launching an idea into the world exposes you to more than just some wise guys leaving disparaging comments. It enables anyone to access your campaign, and with enough capital, that person can recreate your product if you haven’t taken the necessary steps to protect it. If they successfully bring it to market before you, then you can kiss your baby goodbye.  (more…)

Young Veterans Show Strong Interest in Business Ownership, Creating Quality Careers As Earnings Far Outpace Those Of Average Vets

August 4, 2014

boots.jpgIn the third of a series of articles investigating who is buying and selling small businesses in America, BizBuySell identifies how military veterans are faring in the business-for-sale market.

It’s no secret that U.S. military veterans are a force to be reckoned with in the nation’s small business economy. But according to the latest research, both older and younger veterans are emerging as major players in the buying of small companies.To better understand todays’ business-for-sale market, BizBuySell.com recently commissioned a demographic study of individuals engaged in buying or selling a small business. The study, which surveyed more than 2,000 buyers and sellers, highlighted several trends that are shaping today’s market.

One of the trends the survey revealed is that a surprisingly large number of veterans are shopping for small businesses. According to BizBuySell’s study, 13 percent of prospective small business buyers listed themselves as veterans.  (more…)

Success Story: Missouri

July 8, 2014

large red digging equipmentJaymie Mitchell, proposal operations manager, Schultz Surveying & Engineering, Inc. (SSE), is originally from Waseca, a small town located south of the Twin Cities in Minnesota. She still pronounces certain words with an unmistakable Minnesota accent.

Stan Schultz, owner and founder of SSE, is also from the small town of Doniphan in southern Missouri. Like many small-town entrepreneurs, Schultz realized his employment options were limited, so he struck out on his own, opening the company doors of then-Schultz Engineering Services, Inc. in 1997 with just one employee in an abandoned farm house at the edge of Poplar Bluff. He regularly pulled all-nighters and his wife and parents frequently pitched in to make the business work.

And work it has. SSE has grown to an approximately $5 million civil engineering, materials testing, surveying and water treatment systems firm employing more than 45 engineers, surveyors, materials testers and support staff in a main office in Poplar Bluff with additional offices in Branson, Lake Ozark and Doniphan.  (more…)

Find out what’s trending on Google search

July 7, 2014

Google Trends isn’t just for monitoring the search trends of your favorite television shows, it can also be used for your business. It’s a free online tool that can help you learn about your customers’ interests. You can use it to answer questions like:

  • How popular is a search query on Google?
  • How has the popularity of this search changed over time?
  • Where in the world are people searching for this?
  • What related topics are growing in search popularity?
  • What search queries have grown significantly in popularity?

This can be valuable information for your business. By understanding how people search Google, you can make smart decisions about how to market your business, both online and offline. For example, if you were researching for a bakery business, you’d see that people searching for “red velvet”  are looking for cake. But, they also search for “red velvet cupcakes,” “red velvet frosting” and “red velvet cheesecake.”  This can give you ideas how to expand your website, and possibly your menu offerings.  (more…)

7 Steps to Declare Your Independence

July 3, 2014

As Independence Day quickly approaches, I’ve been giving thought to how this special day celebrates the American spirit to break free, and not only in the political sense. We are a nation built on “start-ups” and entrepreneurship. Our forefathers, and in many cases our grandfathers, grandmothers, parents or great grandparents, came to America to break free and pursue what was, and still is, considered “The American Dream.”

For them and for us, the word freedom represents many things. It can mean that you decide how hard to work and how far you will take your success. It can mean your own schedule. It can mean life… on your terms. It all needs to start somewhere though with a fearless leap, whether big or small, towards independence.

Here are some steps in declaring your independence:

1. Figure out what you are interested in as well as your unique skill set. If you are really interested in a certain area, you will, and may have already, authentically tapped into a targeted community of like-minded individuals. They are your customers/clients. Give them what they want and need.

2. Do your research. Is there a market for what you offer? Are you filling a need? Who are your competitors and how are you differentiating yourself? There are many sources for market research. The ASBDC provides clients free research packets that can serve as a portion of your overall due diligence.  (more…)