America’s SBDC Blog

A “Forbes 100 Best Websites for Entrepreneurs”

Finding Government Financing for Young Entrepreneurs

July 31, 2012

Ah, youth — the time of a million great ideas that are a million dollars short of ever coming to fruition. Of course, if you believed that, you wouldn’t be an entrepreneur.

In truth, while finding financing for a business run by a young entrepreneur may be difficult, especially considering the current economy, it’s not impossible. In fact, some funding sources are practically designed for the unique needs of young entrepreneurs.

To the collective sigh of young entrepreneurs stateside, the Small Business Administration (SBA) offers several loan programs that don’t penalize you for lacking experience. Most of these programs are administered through banks and underwritten by the SBA, so make sure you ask your bank’s commercial loan officer about SBA-related options. (more…)

Young Entrepreneurs: How to Counter ‘Lack of Experience’ Concerns

July 25, 2012

It’s a common experience—we’ve all been told one thing, only to find the opposite holds true. And for many young entrepreneurs, this phenomenon comes to fruition when working with older business associates. Growing up, you may have been told, “Do not let anyone look down on you because of your youth.” But this doesn’t always hold up in the real world.

Because we live in a society that generally assumes people gain worthwhile experience over time—and for good reason, because it’s often the case—you’ll likely encounter potential investors, partners and even customers who will intimate (or vocalize) their concern about your youth and relative inexperience.

While this is the cross the young entrepreneur must bear, it doesn’t mean these opportunities are beyond your reach. As you pursue new business where your youth seems to put you at a disadvantage, try to include these points as you argue against a perceived lack of experience. (more…)

Responsive vs. Responsible

July 20, 2012

Do you know the difference between being responsive and being responsible? When it comes to government contracting, you have to be both.

Being responsive means giving the government exactly what it wants. When a government buying agency invites vendors to submit a bid, it has very specific requirements in mind. If the agency is looking for paper drinking cups, don’t submit a bid for plastic cups, even if you think the plastic ones would be better.

If the government wants the cups shipped in quantities of one hundred packaged in poly bags, don’t propose to send batches of five hundred in cardboard cartons. The time to offer alternatives is before the invitation to bid is issued. (more…)

Online Tools To Help Your Business Accept Payments Faster

July 16, 2012

Maintaining a positive cash flow is often one of the most difficult aspects of running a small business. Even when business is booming, that 30-day lull between sending an invoice and receiving payment can be the death knell for small businesses in perennial debt.

But thanks to relatively recent advancement in business-to-business electronic payments, you can cut the time making deposits at the bank and waiting for checks to clear, as well as streamline processes such as invoicing and collections.

We’ve identified some of the most common online financial tools that can help you keep your cash flow positive by cutting the time it takes to receive and deposit your payments. (more…)

3 Guidelines for Great Looking Emails

July 13, 2012

Putting the final touches on your latest promotion, invitation or newsletter? Here are three simple rules of thumb to make sure your emails look great before they go out the door.

1. Make it yours

No matter why you are emailing, your audience needs to know that the message is coming from you. Recognition not only helps you keep down spam complaints, but if you are trying to make a brand for yourself, it’s extra important. So, make sure that you:

Include your logo. Take the time to put it at the top of your email and resize it to make it fit appropriately.

Match your colors. Whether it’s the colors in your logo or the colors on your webpage, you should make sure that the color scheme remains consistent. (more…)