Questions Every Small Business Must Ask Their Credit Card Processor | Getentrepreneurial

August 24, 2015 ~ knjohn ~ Leave a comment

Signing up with a credit card processor is a big step for small businesses. It allows small business owners to accept more forms of payment, which in turn drives revenue by making it easier and more appealing for customers to shop in the store. Before signing an agreement with a credit card merchant service processor, however, it is important to get all of your questions answered so that you know you are putting your business in the best position moving forward.

Start by inquiring about and understanding any contract requirements, as well as any processing rates as they relate to various types of cards. Get these rates for all cards, including corporate and rewards cards, in writing, so there are no surprise increases down the road. In addition, talk to your processor about American Express transactions, as well as the procedures for fee deductions from your account and if they offer next day funding. Finally, research a potential processor and consult other small businesses about their merchant solutions so you do not get stuck in a situation that does more harm than good.

How to Create an Effective Business Marketing Plan | Business News Daily

July 2, 2015 ~ knjohn ~ Leave a comment

A marketing plan may not be at the top of every new business owner’s to-do list, but it should be. While a business plan helps map the direction for your company, a marketing plan helps your company understand how to get there by detailing important steps on the road to creating customer relationships.

“The single most important thing for a small business to include in its marketing plan is a very clear understanding of its customers and its competitors,” said Robert Thomas, professor of marketing at the McDonough School of Business at Georgetown University.

Though a marketing plan can be formal or informal, at a minimum it describes who your customers are, where they get information, and how you are going to reach them. Thomas said the development of a marketing plan requires four specific tasks:

8 Advantages of Being a Small Business Owner Now | Small Biz Trends

June 29, 2015June 29, 2015 ~ knjohn ~ Leave a comment

The past few years have seen an opportunistic and favorable business environment and it looks like thankfully it is poised to continue.

Here are the advantages of being a small business owner … now.

Technology Tools

In no other time has technology made it easier for us to do business, communicate and grow on such an efficient and far reaching scale. The Web, email marketing, social media, plug-ins and apps allow us to organize and focus communication. and to help people in ways that save us time and energy and improve efficiency.

The cloud offers front end management of tasks, while many small service companies still juggle paper spreadsheets and calendars to stay organized.

The Best Cities to Work for an Entrepreneur | Inc.com

May 8, 2015 ~ knjohn ~ Leave a comment

We’ve seen, and run, plenty of stories about which cities are the best to start and build a business. But how about the employees? What are the best cities in which to work at a small business?

WalletHub recently crunched those numbers, using a combination of factors meant to represent the environment for small businesses as well as a region’s overall economic environment. Overall, the South and West seem to host more businesses that are hospitable to their employees, while cities in the Northeast generally don’t appear in the rankings until much further down. At number 10, Boston was the highest-ranked city in the Northeast, well below Austin, Omaha, and Raleigh. San Francisco came in 23rd; San Jose was number 34.

The metro areas that ranked the best for their small business economic environments were:

How To Attract Talent To Your Small Business | Getentrepreneurial.com

May 7, 2015 ~ knjohn ~ Leave a comment

It’s safe to say that to a large extent the success of a business depends on the talents involved in running its operations. In order for your small organization to expand, you’ll need both strong, responsible workers and individual talents that will help you push your business offer into the next level. Here are 5 smart tips on how to attract talented employees to a small business.

Offer a wider responsibility scope

In smaller companies, employees wear many hats and have much more influence over company policies. And that’s something that should serve as your main selling point – talented employees are ambitious and when choosing between two opportunities, they’ll pick the one that offers a wider scope of responsibility.

When talking to prospective employees, make your expectations clear and delineate their daily tasks and long-term goals. If you spot a real talent, try to get to know this person to learn what their background and career goals are – only then you’ll know how to make an offer that is too good to be true.

Is Your Small Business at Risk for a Cyber Attack? | All Business

April 7, 2015 ~ knjohn ~ Leave a comment

Cybersecurity is in the news lately, with President Obama recently proposing legislation that would set federal standards for notifying consumers about data breaches. Consumers aren’t the only ones worried about a cyber attack: Small business owners, too, are concerned, says a recent report from the National Small Business Association (NSBA).

More than nine out of 10 small business owners in the study cited cybersecurity as a concern. This is not an unfounded fear: Half of them report they’ve already suffered a cyber attack, with 61 percent of those attacks taking place in the last 12 months.

What happened to these entrepreneurs as a result of the attack? A service interruption was the most common problem, followed by the business website going down. In addition, 19 percent had either their business credit cards or bank account hacked.

The cost of cyber attacks is also on the rise. In 2014 the average cyber attack cost a small business $20,752, a substantial increase from the average of $8,699 an attack cost businesses in 2013.

How Do You Rebuild A Small Business After It Collapses? | Forbes

March 18, 2015 ~ knjohn ~ Leave a comment

Things could not have been worse for Bill Cromedy. His partners in the Philadelphia contracting firm had suddenly left, leaving him with little but the chair he sat in and a cloud of industry rumors about what had caused the company to split.

Cromedy knew that rebuilding the business would mean countless hours, as well as competing against his former partners. Cromedy could easily have walked away—many others would have. But now, just a few years later, Advantage Contracting is going strong once again, and the lessons he learned along the way continue to fuel his success.

How does a small business come back from such adversity? Cromedy began his path to recovery by looking inward. What he found can serve as a template for overcoming entrepreneurial catastrophes of any magnitude.

Small Businesses Are Going on a Hiring Binge | Bloomberg Business

March 10, 2015 ~ knjohn ~ Leave a comment

(Bloomberg) — Sterling Risk Advisors, an Atlanta-based property and casualty insurance broker with 86 employees, has added 13 workers since June and will probably hire 10 to 15 more this year.

“We are committed to growing,” said Doug Rieder, 50, president and co-founder. “We feel a lot better about business. We are pretty bullish right now.”

Small business, responsible for most American job creation, is finally gaining momentum, giving an expansion approaching its sixth anniversary some legs and leading an acceleration in job creation. Confidence is near a post-2007 peak for small companies, construction is recovering and credit conditions are easing.

Questions to ask before starting a business in 2015 | mashable

February 16, 2015 ~ knjohn ~ Leave a comment

Ready to launch your own business in 2015? You’re not alone: Each year at CorpNet we see an uptick of new businesses formed in January. The New Year marks a new beginning, and what can be more fulfilling and exciting than making things happen with your own business?

As a serial entrepreneur myself, I wouldn’t trade the opportunities and exhilaration for anything in the world, but I also realize that launching and running a business isn’t for everyone. While you can’t prepare yourself for every aspect of the entrepreneurial lifestyle, here are six important questions to ask before you quit your day job and dive in:

1. What’s your motivation?

People are drawn to start their own business for a variety of business. Some hate having a boss, are tired of the morning commute, and feel they can do it better on their own. Others want to see the startup riches: get sold to Google, get tons of cash and retire early.

Why Obama’s 2016 Budget Has Small-Business Boost Written All Over It | Inc.com

February 2, 2015February 2, 2015 ~ knjohn ~ Leave a comment

President Obama is set to send his 2016 budget proposal to the newly Republican-led Congress as early as Monday, and news of what’s in it has already begun to emerge–namely, plans for spending increases.

While small businesses could expect a slight economic boost from more government spending, experts say, the budget debate is likely to be weighed down by intense partisan rancor that may offset any potential gain. Among other events, there’s a threat of more skirmishes over the debt ceiling and another government shutdown.