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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…)

6 Simple Tips for Great Content Marketing

February 5, 2013

Content is currency on the Internet. It’s what people consume, share, and it’s what can help get your small business found. It doesn’t have to be difficult to shape content that is simply irresistible for your audience. Here are a few tips to keep top of mind as you consider what content to develop.

1. Write about topics people want to read

Your content should always have an audience in mind. That means you should have their needs in mind, too, not your own. Content marketing should provide something valuable. People want to read something that’s written about the things they’re thinking about (related to your business, of course) so ask yourself what concerns and delights your audience, then go from there.

2. Show people how to do things

Google’s Keyword Tool estimates that, each month, the phrase “how to” is searched 414,000,000 times and the phrase “how to videos” is searched 618,000,000 times. It’s clear that people are interested in learning “how to.” Create your own “How to” posts that discuss the things your organization offers, as well as anything else that your audience is interested in that can be related to what you offer. (more…)

Keep your current job, start a business!

January 29, 2013

Let’s be honest.  Walking away from a job with benefits and regular pay doesn’t seem like the greatest idea right now with the economy the way it is.  But think about this ideal situation: keep your current job while you start a business on the side.  This is commonly called “absentee” or “semi-absentee” business. Many people look would love this scenario, but don’t realize understand exactly what it means. Before you get started, here are four helpful tips as you search for that perfect absentee opportunity:

1. IN EMPLOYEES I TRUST: You will have to learn how to really “let go” and trust others.  Absentee businesses require employees. While you’re working at your regular job, you’ll need someone who can run the shop. There has to be at least a few trusted workers on site to operate the business, and it can be a challenge to find them. As a new business owner, you’ll learn quickly the importance of acquiring the face of your business – your employees.

2. LOCATION, LOCATION, LOCATION: Learn it, love it, live by it.  It will become your mantra.  In general, you can’t run an absentee business from your home office. You need to have a place where customers and clients go so they can purchase your product or service. As an absentee business owner, finding the right location to do business will be one of the most important aspects of your business. (more…)