America’s SBDC Blog

A “Forbes 100 Best Websites for Entrepreneurs”

Create a 2013 Email Marketing Plan

February 21, 2013

There in no better time than the beginning of a year to get strategic about your marketing efforts… and no better way to do it that by creating a plan for the year ahead.

If you’re like most small business owners, email marketing is just one part of what you’re doing while running your business. By creating a plan now, you can make your life easier when trying to juggle everything that come along with running your business—filling orders, waiting on customers, and the million other things that demand your attention.

Think about your approach to email marketing. When you sit down to create an email, are you as prepared as you’d like to be? Do have a clear understanding of what you’re looking to achieve, how you’re going to achieve it, and how you’re going to measure your results? (more…)

5 Ways to Avoid Legal Bill Sticker Shock

February 18, 2013

Have you ever received a legal bill totaling twice the amount of the initial estimate? Unfortunately, legal bill sticker shock can happen easily for business owners and entrepreneurs who are busy starting and running companies rather than monitoring legal price tags. One way to avoid the shock of an unexpectedly high legal bill is to just expect to pay much more than you are quoted; but, there are better ways that ensure that you know approximately what your bill is going to be before you even receive it.

1. Avoid paying for a learning curve.

Talk to several lawyers before you hire someone. You want to be certain the lawyer you hire has the experience you need. Ask specific questions to determine if the lawyer has handled similar cases to or matters as yours—and what those outcomes were. Lawyers interested in your case are likely to give you some free advice. Take advantage of it. They may offer free insight on things to consider when forming a company or the best approach to a piece of litigation. Ultimately, you should go with your gut: Hire someone who is interested in helping you and someone with whom you are comfortable. (more…)

Does Your Business Need an Emergency Fund?

February 15, 2013

After a hurricane or other natural disaster, many businesses find themselves severely compromised or crippled in the wake of its destruction. The devastating events surrounding Hurricane Sandy are a reminder of the costly impact that such disasters can have on a business and its ultimate sustainability. While it is impossible to predict when a disaster will strike, having an emergency fund can be a critical safety net in keeping your business afloat and running both during and after a storm.

Should a natural disaster or other unexpected devastation force your business to shut or slow down, access to immediate cash can help you keep going without further delay. Availability of cash also hedges against risk of submerging into an endless cycle of debt that can often stem from using credit cards for tending to immediate repairs and recovery. While emergency fund goals vary depending on each business’s income and expenses, it is typically recommended that a business put aside enough funds to cover at least four to seven months’ worth of expenses. (more…)

A New Year and New Approach to Evaluating Your Tech

February 13, 2013

We’re only a month into 2013 and if you’ve yet to make a resolution for your small business, consider assessing your technology. Evaluating how technology investments are serving your business requires a fair amount of thought and energy, but the pay-off is worth it since the process sheds light on exactly which changes must be made to increase business success.

When assessing your technology to determine how well it supports your business objectives, try structuring the process by analyzing the following three technology priorities:

Productivity and collaboration – Technology should help employees get things done, share information and work well as a team. Ask employees if they notice any patterns of inefficiency in workflow and their daily work tasks. Doing a thorough audit, will help you identify duplicate processes or tasks. Consider whether the programs they use integrate well with respect to internal and external communications. Also, observe how employees communicate with one another, which tools they use most frequently and if they spend unnecessary time determining if their colleagues are available. You may come to find that enhanced productivity solutions that work across various devices like tablets, PCs and smartphones will help your employees work better and smarter. (more…)

Bad Days, Family Wisdom, and Entrepreneurship

February 13, 2013

One of the joys of fatherhood is discovering the insights and blunt wisdom of children’s books. My eleven-year-old daughter, Truitte Rose, used to have a favorite book titled “Alexander and the Terrible, No Good, Very Bad Day” by Judith Viorst. I couldn’t read it to her enough. It chronicles a day in a boy’s life where nothing goes right.

I too had a bad day last week at my company, Corporate Rain. I hit my chair dealing with client crises, fighting a cold, losing a valued associate, dealing with a minor credit card fraud, and reading a dense legal contract. On the side of my desk there was a Mt. Everest of overdue sales calls I needed to get to. And this was before noon. I was frustrated. I was angry. I was having a terrible, horrible, no good very bad day.

As an entrepreneur, I’ve learned that a day like this can be dangerous, not because of the circumstantially difficult day, but because of my internal reaction to it. (more…)