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Traditional Crowdfunding Can Help Vets Start Businesses

April 11, 2013
Veteran crowdfunds for franchise, hires six employees 

Many veterans come home to a persistent high unemployment rate and a mountain of debt. They’re not welcomed by banks for small business loans because of their bad credit, their lack of assets and at the beginning, no cash flow. However, certain franchises are inexpensive to get into, and finding the kind of money that veteran Larry Colley needed to acquire an air conditioning service business can be relatively easy via crowdfunding.

Through the veteran themed crowdfund platform Sprigster, Colley found $4000, and soon after hired six people. This is surely one of the best ROI for jobs on record.

For determined veterans seeking to start a small business in a local setting, the help of friends, neighbors, veterans groups and eager consumers can quickly turn a well conceived dream into reality, with a built-in fan base. (more…)

When to Put a Bullet in a Business

April 4, 2013

You went into the venture with the highest of expectations. Then, you invested time, money and considerable effort. You may have a company that has been in operation for years. Now tough times have hit and you need a solid objective means of determining whether to pull the plug. Consider a few factors before you make the decision and watch out for thoughts that seem logical but actually distract you from good reasoning.

This, too, shall pass

You need to determine whether your business is caught in a permanent downtrend or just the bad stretch of a business cycle. In the former situation, you may be making the best buggy whips on Earth, but it is likely time to wind things down or steer your business in another direction. I encountered a classic example of this situation when internet-based companies started taking business away from mom-and-pop travel agencies.

One owner of an agency was working 60 hours per week and making less than she would bagging groceries. I asked her why she continued in the business and she replied that it was all she knew. While I was sympathetic to her situation, she did not have a good reason for staying in business. She could have to work for someone else and made more money with fewer headaches. Or she could have used the internet to help her evolve into a new business. (more…)

3 Easy Ways to Get Attention on Twitter

March 20, 2013

It might seem intimidating to communicate a message in 140 characters, especially for those getting started with Twitter. That’s completely understandable. After all, no one likes their thought to be cut short.

But it doesn’t have to be difficult for you to successfully use Twitter for your business. Here are three easy to implement ideas that will make your tweets sing and help you get the attention you deserve.

1. Imitate the pros

Not sure what to say in so few words? If you’re having trouble, check out some headlines from your favorite magazine, newspaper, or news website. Great headlines pique reader interest, get right to the point, and leave readers wanting more—that’s what your tweet should do too! Simply follow the headline formulas the pros use by swapping out their topics for yours. (more…)

4 Essential IT Tips for an Office Move

March 20, 2013

When planning a relocation, many business owners underestimate the time and cost required to successfully transfer IT. In fact, they should be a primary consideration. If an employee or two is missing a desk because of furniture holdups, you can likely make do, but delays in getting your staff connected to phone and internet service are not so easily resolved. Fortunately, with a bit of background knowledge and preparation—and these four tips—you can sidestep the most common IT problems related to moving an office.

1. Consider Your Bandwidth Budget

Before submitting an offer for that new space, call around to several internet and phone service providers and find out if they service the location you’re considering; whether they can deliver the bandwidth and quality of service you require; and what the associated costs are. Then you can make an informed decision about the true expense of the space you’re considering.

Internet and phone service options vary greatly by location, so your monthly charges for these can change significantly when you move. For example, if you’re currently paying $150 per month for a high-bandwidth, fiber-optic connection, only to find that fiber service is unavailable in your new building, you might end up paying $1,000 or more per month for the same amount of bandwidth over a copper line. (more…)

Why Your Small Business Has the Motivational Edge

March 20, 2013

Are you looking to hire employees this year, wondering how you can keep the employees you do have from heading off for greener pastures, or struggling for ways to keep them motivated?

Sometimes it seems like small businesses are at a distinct disadvantage when it comes to hiring, motivation and retention, compared to big corporations that can offer higher salaries, posh benefits plans and luxurious settings. But a recent article by McKinsey (targeted, ironically, at big companies) points out the advantage small businesses have that they may not realize.

McKinsey looked at how business leaders can develop and encourage top performers in their workforce and found that, while both IQ and EQ (emotional intelligence) are important skills for bringing out the best in your team, what truly matters is the “meaning quotient” (MQ) – in other words, offering them the chance to do work that’s meaningful to them. (more…)