America’s SBDC Blog

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Helping Your Clients Get Access To Capital

September 8, 2015
By Rick Burgess, CEO, Connect Lending

America is built upon our entrepreneurial spirit. This spirit is what drives our great country to innovate and endure adversity in challenging the ways businesses are managed. Every day, individuals embark on setting up a business to capitalize on the advantages our great country has to offer. With changes to regulations, additional requirements and limited lending practices, traditional bank loans aren’t always available, and may not be accessible for the everyday business.

Connect Lending

Fortunately, there are numerous types of alternative lending solutions in the marketplace. But, finding them by simply walking into your local bank or credit union isn’t going to be fruitful. Connect Lending provides an online platform to match small business owners to the right lender for their business solution. When using our platform, review these key factors with your client to ensure a smooth process for securing a loan:  (more…)

Turning Ideas Into A Business

September 7, 2015
PA-Success-Upper-DeskSuccess Story: Pennsylvania
  • Bucknell University SBDC
  • SBDC Counselor: Dilip K. Shah
  • Client: Upper Desk, Inc. – SBDC client since 2010

“The SBDC is like a one-stop shop providing tools to educate employees, encourage economic growth, develop products and help fulfill professional aspirations.” – Rod and Stephanie Phillips, Upper Desk, Inc.

Impact of working with the SBDC: Seeking to turn his ideas into a successful business, Roderick Phillips and his daughter Stephanie sought help from the specialty Engineering Development Services at the Bucknell University Small Business Development Center (SBDC). Staff and students at the SBDC assisted him with patent and market research, product development guidance, and even some engineering design assistance with Upper Desk products still in the pipeline. (more…)

Networking? Yes, It Still Works!

September 4, 2015
By Anissa Starnes, Director, National Organizations for Constant Contact

There is no way to calculate the magnitude of new connections that are made every day on social media platforms like Facebook and LinkedIn, but what about face-to-face chance meetings? Do those still happen? Absolutely!

You never know when your next best client may be standing right next to you in the line at the grocery store or at the local farmer’s market or sporting event.  You should always have your 30-second elevator speech prepared to market yourself and your services, in case someone is a potential client. And let’s face it, most people are potential clients — either themselves or someone they know.

Another trick is to always have business cards with you even if you aren’t officially “on the clock.”  Even with the rise of social media connections, old-school printed business cards still work. They can serve as a reminder to the person that you just met that they need to reach out to you, and sometimes that reminder comes later, when they pull the card out of their purse or pockets when they get home.

Master networkers are always on the lookout to make connections with people and for people and you can do it too.  Here is a blog post with more tips on becoming a master networker:
blogs.constantcontact.com/networking-secrets.

Sustainable Financing for Small Business

September 2, 2015
Financial-SolutionsBy Terry Crispen

Going green and recycling may be old concepts but that does not diminish their effectiveness in helping to achieve sustainability.  Oftentimes, we only associate sustainability with the environment, but sustainability is much more than that.  Sustainability is what should drive business decisions today and into the future. The Great Recession, largely caused by markets that were unsustainable, dealt a blow to consumers and businesses. Analysts estimate that more than 170,000 small businesses ceased operations during the Great Recession.  Now that the economy is rebounding, it is more important than ever for small business owners to remain focused on sustainability.

Today, alternative online lenders are the new rage in the financial world.  They promise speed and often deliver in three days or less. The temptation is great for small businesses to access funds in such a short period of time.  But are they making a sustainable business decision?  Once interest rates reach the 20%-40% range, the cost of getting access to fresh capital severely limits a company’s ability to perform and grow long term. Although alternative online lenders offer quick access to capital, the high interest costs make the solution unsustainable for many businesses.  (more…)

Traditional Polish Comfort Food Comes to Vermont

September 1, 2015
Vermont-Pierogi-CafeSuccess Story: Vermont

“Throughout the workshop and in the many follow-up meetings with Deborah Eibner, I was supported and equipped with an invaluable set of tools and strategies that changed my rough idea into a clear vision.” – Viktor Witkowski, Owner, Pierogi Me! and Pierogi Café

Impact of working with the Vermont SBDC:  With the help of VtSBDC advising, Viktor Witkowski has melded his traditional Polish culinary roots with a solid business base, giving his company a stable platform for continued growth. What started as a home-based kitchen business quickly needed space to grow. Witkowski worked with his SBDC advisor to find suitable commercial kitchen space, as well as a small restaurant space to help the growing company expand. His plans continue to become reality as he puts the finishing touches on Pierogi Café in Quechee, where he plans to be serving fresh Polish pierogi soon. He also moved into a commercial kitchen and is ramping up his retail sales while streamlining product packaging.

Read the whole story, and learn more about the Vermont SBDC and Pierogi Me! and Pierogi Café.