America’s SBDC Blog

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Is Revenue-Based Financing Right For Your Business?

November 26, 2012

The lending environment continues to be tight with banks holding potential borrowers to strict standard. As a result, businesses have begun to explore new ways of obtaining financing. One such method is called revenue-based financing (RBF). Is this type of financing right for your business?

How does it work?

The lender issues a loan and the interest payment is based on the company’s revenue over a specified length of time. For instance, the small business would pay the lender 2-5% of revenues each month. If revenues drop from $30,000 to $20,000, the borrower owes $400 as opposed to $600 in the prior month, which is based on a 2% interest rate. Therefore, it is conceivable for the company to pay no interest at all if the revenues went to zero for one month. (more…)

3 Places to Find Inspiration for Content

November 21, 2012

You’re sitting in front of your computer, hands ready to go on the keyboard, and then you freeze. You know you need to write something engaging, whether it’s for your website, your blog, or a Facebook post, but you have absolutely no idea where to begin.

It’s okay. We’ve all been there.

So where can you go for inspiration when you are stuck? Here are 3 ideas:

1. Look to others in your industry

One of the best ways to find inspiration is to look at what others in your industry are talking about. Can you offer a different viewpoint or advice on a topic? (more…)

Free Market Research For Any Business

November 19, 2012

Insights for Search, one of my favorite free market research tools just got a major revamp and is now part of Google Trends so let’s take a look at how a business can use it to make better decisions.

The premise of the tool is that it can help answer important questions about your business using all the searches that people do on Google. For example, by counting how many people in different cities are searching for words related to the flu, like ‘couching’, ‘headaches’ and ‘fever’, Google is able to build a map of regions where there are outbreaks of the flu.

For your business, it can help answer important questions about seasonality, regional preferences and rising trends. (more…)

How to Unplug

November 16, 2012

Recently a colleague asked if I’d been on vacation, since I looked so relaxed (which speaks volumes about my usual demeanor, I guess). Laughing, I told him that it was my daughter who had been on vacation — two weeks at summer camp.

We chatted about how, as parents, we seem to have little time to take it easy and enjoy. I joked that I hoped to maintain at least the look of relaxation when my daughter returned. He just smiled and said, “Press save,” and went on his way.

Press Save.

So what does this phrase have to say to you as a manager, parent or not? Plenty! We’re still in the midst of difficult days and it’s easy to forget the fun times when we hit the office. It’s especially important that you take care of yourself now, so that not only can you survive the long haul, but also help your team do so. (more…)

Internet Marketing for Beginners: Part 2 – Generating Sales

November 14, 2012

This article is the second in a series on Internet Marketing for Beginners. In the first article, I discussed setting a proper online goal. A website should either generate sales, leads, or support for an existing customer base. This article will focus on the first goal: Generating Sales.

Some of you may think ALL websites should generate sales. However, in my opinion, only a few should consider that their goal. When I say, “generate sales,” I define that phrase as allowing someone to put a product in a “shopping cart” and paying for it online. The merchant has only to ship it at that point.

The majority of you don’t need a shopping cart. Basically, those who sell high-priced items or services rarely need a shopping cart. Examples would include realtors, repairmen, consultants, etc. (more…)