America’s SBDC Blog

A “Forbes 100 Best Websites for Entrepreneurs”

Technology means growth: Lessons from SMEs

February 24, 2014

It is widely known that small and medium sized enterprises (SMEs) play an important role in the vitality of local economies around the globe. I was recently reminded just how important SMEs are as growth engines of our economies.

Microsoft commissioned The Boston Consulting Group to conduct an independent study, which surveyed more than 4,000 SMEs in five of the world’s largest and most diverse economies: the United States, Germany, China, India and Brazil. The objective was to look at the economic impact of IT on small businesses today.

The study found that tech-savvy SMEs outperformed SMEs using little technology in innovation, job growth and increased revenues over the last three years. SME leaders using technology have grown their businesses and reduced costs, and one important factor seems to be increased worker productivity. (more…)

Get Your Website Found

February 24, 2014

When it comes to getting your small business website found online, finding the most effective ways to drive traffic to your site can be a bit confusing. It’s easy to fall victim to trends in SEO (Search Engine Optimization). They are quick fixes that sometimes offer temporary results, but ultimately end up hurting your site’s success.

Instead of sketchy SEO tricks and shortcuts, focus on creating long-lasting results by adhering to these best practices for getting your site found online:

Create fresh and interesting content. When writing content for your site, consider what visitors want to know. Put the customer’s needs first, and you’ll get the chance to say what you want after you cultivate loyalty. Use relevant keywords. People enter specific keywords in search engines to find the products and services they want. Do some research to discover commonly used keywords for the products and services you offer, and include them in your site’s content.

Write for real people.Those search engine spiders that crawl the Web for keywords aren’t going to buy your products or services. When including keywords in your content, write naturally – like you would speak to customers and prospects. Avoid awkwardly cramming keywords into your content in a wayward attempt to boost SEO. (more…)

Why Care About Intellectual Property? IP: The Forgotten First Step

February 19, 2014

When starting a business, many assume intellectual property (IP) is merely an incredibly expensive legal concept that does not apply to them; or worse, too many people believe IP is something that can be put off until later. It should be known that every company has IP and innovation, and the time to identify and decide upon a strategy to protect your IP is at inception.

Every business has IP

IP can be found in 100% of businesses and is not just for tech businesses or inventors.  Simple items like business or product names, customer lists, and blog or presentation content are IP. Innovation (or IP) is often a business’ most valuable asset, particularly during startup, and must be coveted in the same way as your tangible office assets (e.g., computers, cash, products, etc.). You would not leave the company office unlocked with these items out in the open; IP or intangibles need to be treated with the same care as physical assets.  (more…)

Success Story: Texas

February 18, 2014

State: Texas
Center: Del Mar College SBDC in South West Texas
Client: Bella Abastta

Bella Abastta, fresh out of high school, is a young and ambitious entrepreneur seeking to venture outside her family’s business. Her love for fashion motivated her to negotiate the purchase of an existing boutique that offers an eclectic variety of stylish and trendy women’s clothing and accessories.

Bella, who had no established credit, limited knowledge in purchasing and operating a business, was asked to present a Business Plan including a financial analysis. The purpose of the plan was to help the leaseholder transition over the lease and help Bella purchase the business.

Celia Garza, Business Advisor with Del Mar College SBDC encouraged Bella to participate in training seminars offered by the SBDC. Training seminars helped her become familiarized with fundamental business essentials such as start-up, marketing and financial statements. After attending business training and working closely with Celia, Bella was able to complete a Business Plan and generate a 3-year Financial Projection Plan. (more…)

What is a proprietary lending program?

February 12, 2014

Benetrends+bannerad.jpgAlthough the structure of proprietary lending programs can vary, typically your funding partner will work with one or more banks to set aside a block of money to be used exclusively for your franchise concept by providing loans to your candidates.  Proprietary lending programs can simplify your funding issues, increase candidate’s confidence in your system, project a strong brand image and catapult your unit growth.

Having a program partner gives you much more control over the funding process.  Your concept is “underwritten” so that the lender becomes well educated regarding your franchise. The lender needs to understand the nuances contained in your concept: how it works, why it works, what makes a location successful and what obstacles need to be avoided or overcome.

A proprietary lending program will establish the appropriate “credit box” or set of criteria through which your clients will be analyzed to ensure the greatest likelihood of success for funding approval.  In addition, because your lending partner knows the credit requirements, prequalification’s are much quicker, which can save you from wasting your valuable time should a candidate be determined to be un-fundable. (more…)