Small Business Success Index 5

Index Score^*		Grade
SBSI INDEX	73	C-
Capital Access	67	D+
Marketing & Innovation	65	D
Workforce	76	C
Customer Service	88	B+
Computer Technology	75	C
Compliance	92	A-
*Index score is calculated on a 1-100 scale.

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Archive for November, 2009

GrowSmartBiz Black Friday Deals for Your Small Business

November 27th, 2009 :: Steven Fisher

Yesterday here in the United States we celebrated Thanksgiving Day (celebrated in Canada on the second Monday of October) where we shared literally a feast of food.

The day after Thanksgiving Day is the unofficial start of the holiday shopping season. Almost everyone calls it “Black Friday”. Stores have crazy sales, in some places they open at midnight on Friday but overall it is a day that people can get great deals on things they would never get any time of the year anywhere else. This is why in the spirit of the holiday, Network Solutions has put together the following Black Friday sales for our Grow Smart Business readers to help your small business.

Black Friday Sales From Network Solutions

Here are four specific deals from Network Solutions for this Black Friday:

$100 of any $500 Purchase – Use Code GCXXX03353
$25 off any $150 Purchase – Use Code GCXXX03354
$50 off any $250 Purchase – Use Code GCXXX03355
$15 of any $200 Purchase – Use Code GCXXX03356
20% off Domains – Use Code GCxxx03353

Black Friday and Cyber Monday Deals from All Over the Web

Network Solutions has also put together a page called “Black Friday and Cyber Monday Deals” and it shows deals FROM ALL OVER THE WEB for Black Friday and Cyber Moday. You can also get our Black Friday badges to put on your site at http://growsmartbusiness.com/badges/

Keep checking Solutions Are Power and Grow Smart Business for deals and information this holiday season.

Photo Credit: DPetrus (Flickr)

Tags: Black Friday, Deals, Network Solutions Black Friday
Posted in small business | No Comments »

Happy Thanksgiving and some Black Friday sales for our GrowSmartBiz Readers

November 26th, 2009 :: Steven Fisher

Today on this the fouth Thursday of the month of November, those of us here in the United States celebrate Thanksgiving Day (celebrated in Canada on the second Monday of October) which has its roots in the first English settlers in North America and the thanks they gave for a good harvest preparing them for a hard winter ahead. Today, our harvest includes many trips to the grocery store to pick up a turkey or ham along with other yummy that is ready to be prepared and shared with friends and family. One of the traditions in today’s Thanksgiving is to is usually comprised of eating Turkey until you fall asleep on the sofa and in between watch the Macy’s parade and college football game.

One of the other traditions is the day after Thanksgiving which is the unofficial start of the holiday shopping season. Stores have crazy sales, in some places they open at midnight on Friday but overall it is a day that people can get great deals on things they would never get any time of the year anywhere else. This is why in the spirit of the holiday, Network Solutions has put together the following Black Friday sales for our Grow Smart Business readers to help your small business.

Black Friday Sales From Network Solutions

Network Solutions has put together some great deals for Black Friday 2009.

$100 of any $500 Purchase – Use Code GCXXX03353
$25 off any $150 Purchase – Use Code GCXXX03354
$50 off any $250 Purchase – Use Code GCXXX03355
$15 of any $200 Purchase – Use Code GCXXX03356
20% off Domains – Use Code GCxxx03353

Black Friday and Cyber Monday Deals from All Over the Web

Keep checking Solutions Are Power and Grow Smart Business for deals and information this holiday season.

Photo Credit: American Corners in Hungary

Tags: Black Friday, Thanksgiving
Posted in Resources, small business | No Comments »

Protecting Your Small Business Brand with Trademarks – A #GrowSmartBiz Interview with Brian Winterfeldt of Steptoe and Johnson

November 25th, 2009 :: Steven Fisher

I first met Brian Winterfeldt when he came to Network Solutions last year to give a great presentation on trademarks and IP for small business when he was with a previous firm. He joined Steptoe and Johnson earlier this year as a Partner in the Intellectual Property (IP) Group. Steptoe and Johnson is a general practice law firm with offices around the world. Brian is based out of the Washington, DC office and the IP Group is focused on identifying, registering and protecting a company’s IP. His focus within that group is as trademark attorney and helps companies of all sizes create, protect and enforce their brand assets. I recently had the opportunity to sit down with him and discuss how and why small business should work hard on a brand and protect it as a critical company asset. Here is a transcript of that interview:

Steve: As a self-proclaimed Global Brand Enforcer (cape not included) what is the overall process for small business to trademark their business?

B Brian Winterfeldt rian: Trademark protection should be a priority for any business, large or small. Ideally, the process should begin even before the business name and brand names are selected: potential trademark owners should conduct trademark clearance searches for the marks they may wish to register. At a minimum, US searches should be conducted, but if the business’s goods and/or services are likely to be marketed internationally, the business may wish to conduct searches in other countries or global searches as well. These searches, when conducted by experienced trademark attorneys, will indicate whether each mark should be registrable in each jurisdiction or whether there are any potential obstacles (for example, if another party has already registered the same or a very similar mark). The business may wish to select several potential marks and conduct searches for all of them to improve the chance that at least one will be cleared.

Once the desired marks are cleared, the business should proceed with filing trademark applications in the desired jurisdictions. Potential trademark owners should keep in mind that in the US, they will only be able to obtain trademark registrations if they are able to show use of each mark in interstate commerce, although they can initially file on an intent-to-use basis. After each application is filed, it will undergo an examination process, during which time the applicant may be required to revise the application and/or submit arguments justifying why the mark should be registered. Once the application has been approved by the examiner, it will proceed to publication, and if no oppositions are filed during a 30-day window, will then proceed to registration for use-based applications.

In addition to filing applications and pursuing trademark registrations, a business should also develop an enforcement strategy. Enforcement of trademarks – that is, putting a stop to infringing uses of a mark – is extremely important as a mark can be significantly weakened if its owner fails to enforce it – or in extreme cases rights can be lost entirely. Enforcement essentially involves determining which marks and elements of marks are most important to the business, monitoring the marketplace for potentially infringing uses, and then addressing these uses as they arise. A business’s trademark counsel can assist with all of these elements of enforcement.

The company should review its trademark portfolio periodically to ensure that the marks being protected and enforced remain in use and/or remain of value to the company.

Steve: What are the components or types of trademarks? How long does the process take to get a trademark?

Brian: The two basic types of trademarks are word marks, which protect only the verbal form of the mark, and design marks, which protect a graphic representation of a mark. Design marks may or may not be in color. Occasionally, businesses may wish to file for protection for non-traditional marks, such as colors, three-dimensional shapes, and sounds. However, small businesses that are just beginning to develop their trademark portfolios will likely want to focus on the word marks for their major brands and possibly design applications for their logos.

In the US, and in most international jurisdictions, applicants can file for their marks in one or more of 45 classes, depending upon the goods and services for each mark. The applicant will need to pay an additional fee for each class applied for in most jurisdictions.

The time needed to proceed from initial application to registration varies greatly, but can take anywhere from about one year to several years. The time will depend upon whether the mark is already in use, whether any amendments are required to the application, and whether the application is opposed after publication.

Steve: Since trademarks are just a US think what other things should companies do if they are international or want to protect their brand on an international level now and for the future?

Brian: Trademarks are actually not exclusive to the US! Most countries allow brand owners to apply for registration and protection of marks.

Once again, if a brand owner is considering selling its goods and services internationally, I recommend starting with a trademark search in the desired markets or globally to ensure that the desired mark is likely to be registrable in each of the desired markets. The company should also determine its major current and potential markets and should consider filing for trademarks in those countries. Companies that have a market presence in Europe should keep in mind that the European Community offers something called a Community Trademark (CTM), which allows for protection in each of the 27 EU member countries.

As companies, especially small businesses, are likely to need assistance with navigating the intricacies of the trademark application process in each international jurisdiction, they should work with the company’s US trademark attorney to coordinate with international counsel in each jurisdiction. Value is provided by experience working with the various international jurisdictions, in combination with knowing your company well and its goals.

Finally, companies filing for international applications should expand their enforcement efforts to include those jurisdictions as well, especially in key markets. International counsel can also assist with monitoring those marketplaces and addressing instances of potential infringement.

Steve: For a small business who always has many things that it needs to select in which to spend its limited budget on, what is the level of importance they should place on trademarks?

Brian: A company’s trademarks are among its most valuable business assets, and thus any budget should allow for some degree of expenditures on trademark protection. Each budget should have room for applications relating to the company’s core brands in its major markets or for maintaining existing registrations for such marks. If possible, the budget should also include a provision for some enforcement efforts to ensure that incidences of direct infringement can be discovered and addressed.

The company’s trademark counsel should be able to work within its budgetary constraints in order to develop an efficient portfolio management program that will meet the company’s protection and enforcement goals.

Steve: To wrap up I always like to ask a “five things” questions. So for you, what are five things a small business should look for in a trademark attorney

Brian: First, a small business should look for an attorney who is specifically experienced in trademark portfolio management, and who can point to successes in this area. The business should not hesitate to ask for references from the attorney’s current or past clients who have successfully obtained and maintained trademark registrations.

Similarly, the business should look for an attorney who is experienced with both prosecution (filing applications and obtaining registrations) and enforcement, with notable successes in the enforcement realm (which may include executed settlement agreements, abandonment of infringing marks, or favorable decisions in litigation).

In addition, a business should seek out an attorney who has a network of strong relationships within the trademark community. Even if the practice is limited to the US, attorneys usually need to work with outside investigators and search vendors, and those who have strong relationships with these vendors are more likely to provide quality, efficient, and cost-effective work. Also, businesses that are considering any international applications will want to ensure that their attorneys have strong relationships with international counsel.

As the landscape of the trademark field is changing rapidly these days, especially with the growth of the Internet, businesses should look for attorneys who are active in the trademark community, particularly through membership and leadership in the International Trademark Association (INTA) or other intellectual property organizations. Evidence of recent speaking engagements or publications in the field also demonstrates the attorney’s commitment to staying on top of cutting-edge developments in the field.

Finally, a business should look for an attorney who provides excellent customer service, who will treat a small business’s trademarks and portfolio with as much attention and care as that of a Fortune 500 company. Again, references from existing and past clients can provide useful information regarding the attorney’s commitment to service, as can evidence of pro bono trademark work for community organizations.

Tags: Branding, Brian Winterfeldt, small business, Trademarks
Posted in Branding, Business Law, Interviews | No Comments »

Social Media is a Two Way Street for Business

November 24th, 2009 :: Tobias Bray

I like social media and use it on a daily basis. However, there is one facet of this channel that looks remarkably old school. If you study marketing, you know that Baby Boomers like to shout messages at a target using a megaphone. You might also know that younger customers and prospects tend to not to follow or friend compaines that see a channel as a pure sales play and here is why…

We are creatures of habit and environment. We also carry certain assumptions with us that influence the way we interact with technology. Let’s say I meet someone at a networking event and we exchange cards. In that exchange there is an implied agreement that one of us might contact the other. When a business decides to move into the social media the same axiom applies and it has less to do with the company’s intent and more to do with its customer’s view of social media.

Your customers and prospects use social media everyday to interact with friends, They carry on conversations, they let people know what they are doing, they look for comments & reactions. This is the habit that influences how the world of Facebook, Twitter, Foursquare and blog users view your company. By entering into the social media spectrum, your business has extended its hand and said, call me anytime, I’m listening. Here are a few things to consider as you move your business into soical media.

1. Know Your Targets
The social media fire hose makes it easy to forget who is listening and why they started following your company in the first place. If you target a particular group, learn their behaviors and personalities before you start communicating with them. This will go along way to getting them to encourage others to follow you business.

2. Don’t Fall in Love With The Sound of Your Own Voice
Do we need to say anything more here? Have you ever attended a party and listened to someone talk about themselves for an hour? So enough about me. Let’s hear you talk about me for a while. Social media is 10% your business and 90% your customer’s world view.

3. Make it About Your Target
Do your best to convey information that is valuable to your target. When a customer or prospect follows you, they are doing it for a reason and that reason may not be to hear “I just bought a double pump latte – have a great day”. What can your target do with this information other than processes it or see it as an interruption? Depending on the age and technical ability of your target, they may not have a client that can filter out the dribble. Which leads to the fourth point.

4. Respect Your Target
I just mentioned processing a message. If your average target follows 500 people and each one of them tweets 30 times a day. In just eight hours, your target has spent 90 minutes processing those tweets. Respect your target’s time.

5. Plan Your Message
If your message is an offer, time the delivery of the message to be in sync with your target’s behavior. A Happy hour message at 6 am will most likely be ignored. Repeating it all day to the same group will cause people to stop following you. You only need to send something a few times. If it is important enough it will get noticed.

6. Most Social Media is For Short Messages
A few nights ago I watched as a stream of messages came across Tweetdeck rapid fire. A person I follow and might have partnered with decided to tell a story using Twitter for the third time in under a week – 23 tweets later, I stopped following him. Twitter is not a Blog. If it is that important, figure our how to say it in 140 characters and point your reader to a blog.

7. Solution or Commodity
Multi-million dollar solution sales are not transactions, they require time, effort and typically begin with a relationship. Short message type services are transactional and are better at driving commodity type sales. Look at the stats, follow the numbers. Decision makers with signature authority have more important things to do than follow 500 people who are tweeting 30 times a day. In eight hours that is 1,500+ tweets per hour. What is an executive’s time worth an hour? High value targets buy on relationships and typically use value added networks of people they know. Most of social media is a transaction based network.

8. Corporate Voices are Mostly Ignored
Social media is about relationships between like minded people and while corporate voices may have a lot to say, they don’t spend their days on the front line with customers and prospects. A genuine message crafted by your front line will will have far better reach then a missive from marketing simply because the front line spends more time with the customer. They get it. They talk the language. They have names that customers remember. The front line is your relationship.

Social marketing is a valuable tool that works well when the target is defined and the business understands that the front line is the key to the customer

In our next posting, we will talk about how to engage the front line in a way that provides the controls large companies require yet keeps the conversation organic.

Posted in Marketing, small business, social media | 6 Comments »

Enabling a World Class Communication Infrastructure for Your Small Business – A #GrowSmartBiz Interview with Jason Welz of Comcast Communications

November 20th, 2009 :: Steven Fisher

Welz Jason_web Many people have heard of Comcast and many readers of this blog might be customers of its television or Internet services. What many might not be familiar with is its growing business services group that works with thousands of small businesses. Recently at the GrowSmartBiz conference I got to meet Jason Welz, VP of Business Services, Comcast Beltway Region. In this role, Welz oversees sales and marketing operations efforts for Comcast Business Class services throughout the company’s footprint in Southern Delaware, Maryland, Virginia, Washington, D.C. and parts of West Virginia. Welz joined Comcast from Knight Enterprises, where he served as president and CEO of the privately held cable and telecommunications construction and integration firm. Before Knight Enterprises, Welz spent more than 10 years in executive leadership positions throughout the cable industry, including positions at Cox Communications and Time Warner Cable where he focused his efforts on supporting the growth of high-speed data services, telephony and business services.

I recently had the opportunity to sit down and talk about the increasing power and flexibility that small businesses have when it comes to putting in a communications infrastructure. Here is a transcript of that interview:

Steve: Jason, you have been working in the telecommunications and Internet fields for over a decade. Are we finally at a point where convergence of technologies and affordable bandwidth gives every small business the potential to compete with their larger respective competitors?

Jason: Absolutely. If you consider the rate of broadband adoption in the SMB arena over the course of the last decade, you can clearly see the way that the adoption curve, available broadband speeds and pricing have converged to make high capacity IP (Internet Protocol) services widely available and affordable to everyone. This availability and affordability allows small firms to do things from an IT and Communications perspective that were once limited to large firms with extensive human and technical resources.

Steve: What are the components, in your opinion, of a world-class communications infrastructure that all small business should have to compete in today’s world?

Jason: It starts with a solid and scalable physical infrastructure allowing a firm’s employee’s to communicate effectively both internally and externally. This includes reliable hardware and physical network equipment and a stable computing environment. From there, collaborative software applications and highly available, high capacity connectivity to the internet supported by a 24×7 service provider with feet on the street resources who can be onsite quickly should a problem arise. Lastly, security, reliability and Business Class support layered on top of that infrastructure, provide a sustainable environment for the SMB.

Steve: Businesses would expect to get Internet connectivity services from Comcast but one area that Comcast has been expanding into is its digital voice product. How does something like that take a small business to the next level?

Jason: The convergence of voice, video and data has become a given over the last 18-24 months and there is arguably not a single firm who understands these three applications and services better than Comcast. What Comcast has done is to take its leadership position in being a world class service provider of converged broadband services and created a Business Class offering combining these technologies into a highly affordable bundle of services while leveraging Comcast’s extensive and scalable network infrastructure to deliver them. In the coming months, Comcast will further combine these services and features to create an end user experience that’s second to none. These features, particularly in the voice arena, have only been available to very large enterprises with large IT and Telecom support organizations. The rapid evolution of these converged technologies has created an environment allowing SMB’s the same experience at a fraction of the cost.

Steve: Many small business customers have some sort of connectivity to the Internet and might be surprised the Comcast Business Services is available to them. What are some of the differentiators that they might not know about?

Jason: Three things come to mind. First, broadband and ultimately wideband over cable is one of the most cost effective and reliable methods of accessing the Internet for SMB’s. Secondly, Comcast bundles a fantastic suite of services including Hosted Microsoft Exchange, Sharepoint and McAfee Security suite into every Business Class connection we provide. These products help our customer’s save in excess of $1200 annually in their IT expenditures and give our customer’s the advantages of a cloud computing and software as a service platform traditionally only available to larger firms. Lastly, and most importantly, Comcast focuses on the value of our local presence in the communities we serve. This local presence allows us to provide a level of service that’s unmatched in the industry, while making a direct and positive impact in the business community every day.

Steve: To wrap up I always like to ask a “five things” questions. So for you, when a small business owner is looking to evaluate a provider for a full services communications solution, what are the top five things they should absolutely have in a vendor?

Jason:

Great value
Reliability
A partner relationship with a provider they can trust
Products and services that will grow as their business grows and needs change.
Being assured that the partner they choose is committed to the long-term and has sustainability – Their there when you need them!

Tags: comcast, GrowSmartBiz Conference, Jason Welz
Posted in Grow Smart Business Conference, Interviews, small business, Technology | 7 Comments »

Eight Things To Keep In Mind For Your Websites Search Engine Optimization

November 19th, 2009 :: Michael Dougherty

If content is King then your Search Engine Optimization efforts are your King’s Herald. The guy who is out there, once people are listening, giving out the valuable information about your King. But instead of the shiny horn and scroll of lineage, the Search Engine Optimization Herald uses text and links to allow the web crawlers, the cute name for the automated programs that source out websites and index their content in their lists.

Let me be clear, this isn’t the silver bullet that will push your website to the top page ranking. There are a lot of variables that get that there and with multiple search engines there’s more detail than can be fit in this list of eight things.

What we’re going to go over today are just a few things that will help helps search engines, like Google, be able to better index your site.

1. Title each page with your business name and section title. – Search engines use your title as the top link so it only makes sense you would have your companies name here. Don’t get too wordy and try to fill this space with extra words to try to help. You have between 60 to 70 characters (that’s letters, spaces, and symbols) so use that space wisely.

2. Use keywords on your pages that relate to that pages content. – This is where you leverage your key points in your content to, initially, draw attention to your content. You also want to take this time to also include words and two word phrases revolving around your industry and target markets.

3. Give each page a description based on the pages content. Ok, we’ve gone over the title and keywords, but the description is on more part of the sight that most people don’t keep in mind as they are looking at a search engine. By definition, this is the text that the search engines will display below the link to tell you a little about the site you are looking to find. By describing the content on that page, and a little about your company. Just like the title of your site, depending on the search engine you choose, you have roughly between 156 to 250 characters (letters, spaces, and symbols) to relay the information you want. This isn’t the place you want to get cute and fill it in with words that will boost your site. Your keywords are for that.

4. Name every image…photos and buttons. - This helps for more than search engines. This will help the disabled review your site. By namin>g the alt attribute, commonly referred to as the “alt tag”, you are giving a corresponding text title for every non-text element on your site. If this isn’t making sense, find your local web designer and they’ll go on for hours explaining it. Or you can just shoot me a message.

5.Give your site…a map- Site maps are great, because they help you organize your site as you go through the creation process, but they also provide a page of reference links for the search engines to review your site. The site map will also give viewers a place they can go where there a clean, and clear, direction to the content on your site without all the bells and whistles.

6.Breadcrumbs aren’t just for the birds. - Breadcrumb Navigation is often seen just below the header, and navigation (if it is horizontal), and just above the title of the content. It is a great way for visitors to see the path that took them to this page, but this also provides additional links, just like your site map, for the search engine web crawlers to use when indexing your site. Breadcrumb Navigation will often look like this:

Home > Main Content > Sub Content

7.Leverage free analytics tools. – There are paid analytics tools, but just if you are starting out there are tools like Google Analytics available to you simply for the time of setting up a Gmail account. This will help you determine where people are going on your site and what keywords are working for your site.

8.Remember your King. – The content of your site (the text, the links you create, and even images) help your search engine optimization as well. You may be able to get away with just a title, keywords, a description, and a single image, but you’ll get so much further making sure all of the things we talked about above are in line with the content on your website.

These are just a few efforts that you can implement early on, or even in your current website if you haven’t yet, to help make your site more appealing to web crawlers. Remember, this isn’t the silver bullet to the top page rankings, but it will help.

You can also reach me on Twitter by following me @wickedjava, or on Facebook at facebook.com/mcdougherty.

As all ways, if you have been reading, thank you and stay wicked.

Tags: entrepreneur, Generational Marketing, Grow Smart Business, GrowSmartBiz, Marketing, michael dougherty, search engine optimization, seo, Small Business Trends, social media, Startups, success
Posted in Resources, Web Design | 7 Comments »

Advice on Starting and Building a Great Business – A #GrowSmartBiz Interview with Jake Weatherly of Palo Alto Software

November 18th, 2009 :: Steven Fisher

PasLOGO_highres_web Many people might not be familiar with the name Palo Alto Software, but I bet if I said “Business Plan Pro” or “Marketing Plan Pro” you would probably say “oh, yeah, I have heard of that” or “I used that to kickstart my business plan process”. This is a credit to their branding and ability to be on almost every retail shelf where software is sold.

Jake Weatherly is VP of Customer Experience, which covers all customer service, support, retail presence and non-web sales efforts. He has been with the company since he was 19 as a part time employee while in college. He was the 12th person hired by Tim Berry, the company’s founder, President, and original author of Business Plan Pro. Over the years he has been responsible for everything from partner engineering, to product marketing, education, training, and product evangelism. I recently had the opportunity to sit down and talk about effective business planning and the role of software in helping small business owners grow their business. Here is a transcript of that interview:

Steve: Jake, Palo Alto Software has been around for over 20 years and as technology and business models have evolved, how has your product mix evolved to help businesses large and small?
Jake: For businesses large and small, the value of planning is about the process, not just the plan. Over the years our business planning and marketing planning lines have grown to include a UK version, products for nonprofits, social enterprise planning software, programs to write business plans in Spanish, a monthly recurring revenue model, and the list goes on. Our customers have benefited from our software constantly evolving with new technology, and we have made business planning exponentially easier and faster year after year.

Looking just at products and features, however, does not tell the true story. Our software catalog has evolved from an original focus on creating a document to become a comprehensive set of tools and services to help you start, run, and grow business. Sure we consistently help small business owners and executive teams all over the world obtain their start-up and subsequent rounds of funding, but our customers quickly realize that the value of planning lies in the process itself; it’s not just about creating the document. Business Plan Pro and Marketing Plan Pro help companies large and small take action and develop leadership in their respective markets. Palo Alto Software customers compare their monthly and quarterly achievements against what they planned, and as simple as it sounds, that’s the difference between achieving successful results versus being slow, reactive, and cumbersome in the marketplace.

Steve: Palo Alto Software has shifted its mission to not just providing software to help a business stay on track but to teach them how to be more effective with your tools. Could you elaborate on that more?
Jake: Simply handing off a tool and moving on to the next potential customer will not lead to long-term success. Our responsibility is clear; we help people succeed in business, and central to that role are our training, implementation, and support services. For entrepreneurs who wish to work with experts, we have a team of business success coaches who hold people accountable to achieve their objectives. For the do-it-yourselfers, we offer a vast library of training and help resources. Our support and product specialists are available to ensure successful implementation of ongoing planning and forecasting. The bottom line? Our customers are succeeding everyday by turning to us to help with starting, running, and growing their businesses.

Steve: You have adapted best practices of software as a service and the move to web based software. What are some things you are doing to build community or streamline the planning process with these kinds of offerings?
Jake: We have created web-based tools and a long-standing community of experts and entrepreneurs who contribute content that we make available for free on our websites www.Bplans.com and www.Mplans.com. We were early adopters of live and on-demand online training, we’re big in the blogosphere with our own blogs and partners, and we are part of the entrepreneurial community online using social networking technology like Twitter and Facebook. With these kinds of offerings we are able to be anywhere anytime and everywhere all the time. In the end, it’s about effective collaboration, and all of the stages of business from start-up to growth and maturity benefit from being part of the conversation instead of observing from the sidelines.

Steve: Many people are familiar with Business Plan Pro or Marketing Plan Pro. What are some other products and services that Palo Alto provides that small businesses should be aware of?
Jake: Very near and dear to my heart are our two latest products: Email Center Pro, and Start, Run, & Grow Your Business.
Email Center Pro helps companies respond to their customers quickly and accurately every time. It’s the result of five years of engineering for my support, customer service, and sales teams to decrease their email response time to customers. Before we created this SaaS offering, our customers were getting responses between 24 and 48 hours after asking their question – unacceptable. We now respond to customer emails in less than an hour, and so we released Email Center Pro just over a year ago to help people achieve the same results to manage customer email and get out from under their inboxes.

Start, Run, & Grow Your Business is huge. Years of discussions with hundreds of thousands of businesses about their needs and a solid history of quality partnerships brought the program together. Start, Run, & Grow Your Business combines best-in-class solutions with educational content to help you reach more customers, sell more products and services, and improve business productivity. Successful business owners today are using awesome logos; they’re sending email newsletters; they have great web sites, and they love learning from industry experts. Start, Run, & Grow Your Business delivers all of this for a super low price, and that means we will be working with more entrepreneurs than ever before. That’s really exciting.

Steve: To wrap up I always like to ask a “five things” question. So for you, what are five things a small business should consider when beginning the planning and forecasting process?
Jake: I am going to keep this one simple by focusing on actions and not words:

Start anywhere, and start now.
Forecast your sales and expenses and then regularly compare against what you achieve. Adjust your plan accordingly, and repeat the process.
Only do what you need now. Get to the other parts as you need them.
Don’t get stuck in the details. Remember to stay focused on the future.
Use the Internet, join the online conversation, and get out on the street to research your customers, your competitors, and build your strategies.

Tags: Business Plans, entrepreneurship, Jake Weatherly, Marketing Plans, Palo Alto Sotware, small business, Starting Business
Posted in Entrepreneurs, Grow Smart Business Conference, Interviews, small business, Technology | 5 Comments »

Financing A Business: Using Equity vs. Debt

November 16th, 2009 :: Gary Honig

At various times in the life of a company there are going to be requirements for outside capital in order to grow the business. Choosing which type financing vehicle is best for your company is very important. Deciding whether to seek equity capital or debt financing is the first step. Usually companies trying to get equity capital are very early stage with little or no real assets, while companies on their way to a steady growth curve use debt financing.

The equity route

As the owner of a business idea, plan, or company – you hold ownership to a subjective value called equity. The equity of any type of property whether intellectual or physical is the value someone is willing to pay for it minus any liability attached to it. In business that could mean the value of an entity today measured in time and money invested versus the value in the future measured by comparable growth.

Once the owner and investor determine the “valuation” of the equity, the owner can then sell parts of the equity in order to raise capital. There are a variety of methods you can raise equity capital (Seed, Angel, Venture) and you should learn the pluses and minuses for each. An equity capitalist is interested in picking a company that shows great potential. They are expecting that there will be significant growth due to their involvement. That could mean that the company will grow tenfold within five years.

Debt Financing

Securing capital through debt financing does not entail “selling” your equity, but instead works by “borrowing” against collateral assets. Debt financing is only available to business owners who have something of value that the lender can instantly liquidate. The debt finance company is not interested in becoming a partner, instead they are in business to make money from their money, letting you use it for periods of time.

Like equity financing there are a variety of methods available to raise debt financing. Traditional banking will always be the least costly source for your financing, but remember bankers are not in business to take on risk. When they ask for three years of company tax returns it’s because they want to see a steady reliable set of profitable growth numbers. Borrowing from the bank relies on two variables, the collateral that secures the loan, and your ability to repay the loan. You might have enough collateral, but if your business is losing money, the bank can’t expect you to handle the added expense of loan payments.

Many early stage companies turn to private commercial financing which is better suited to deal with riskier issues. Factoring companies use the loans you make to customers (invoices for finished work) as the collateral for their funding. Here the emphasis will be the creditworthiness of your customers rather than the credit of your company. Equipment leasing companies will allow you to purchase new equipment and pay for it over time, usually three to five years.

Finally,

When seeking outside capital, whether equity or debt, remember that certain sources are familiar and like to work with particular industries. Take the time to look around and be sure that the source you are considering is well-aquatinted with your type of business.

Tags: Business Tips, Grow Smart Business, Raising Capital, small business
Posted in small business | 11 Comments »

Streamlining Your Small Business Operations with Barcoding – A #GrowSmartBiz Interview with Grant Wickes of Wasp Barcode Technologies

November 13th, 2009 :: Steven Fisher

The world of barcodes could be thought of as a very dry topic and something we don’t think of and only notice when we are checking out at the grocery store. But Grant Wickes is passionate about his work and makes this an interesting topic and one that every small business should take a look at using. Grant is VP of Marketing at Wasp Barcode Technologies and he sees this technology as something that can truly streamline and transform a small business operations. I recently had the opportunity to sit down and talk about barcoding technology and what Wasp is up to. Here is a transcript of that interview:

Steve: Grant, Wasp Barcode has been around for over 13 years and as technology has evolved, how has thiskind of technology become accessible to small businesses?

Grant: I am amazed even today at how few small businesses deploy barcode technology. Over the last three years, we have conducted quarterly customer surveys. The results have consistently shown that, prior to buying our solutions, 90 percent of our customers have never automated with barcodes before. In almost every case, we are not replacing a new technology. Rather, we are replacing a manual process. I just don’t think business owners know how much barcodes can help their business, how affordable the solutions are, and how much time and money they will save using barcode technology.

Steve: Could outline for us the types of Wasp Barcode solutions that small businesses could utilize right now?

Grant: This is the fun part, since there are so many applications. There are small retailers – the local hobby shop, liquor store, card and gift store, apparel or shoe store – the thousands of local shops that serve local communities. These smart business owners use barcodes to accurately know what products they have on the shelf, how many they have, and what’s moving (and what’s not). These customers typically pay for the system in less then two months from increased sales.

Then there are the small warehouse, service companies (HVAC, plumbing, etc.), and parts/supply depots that carry inventory, which is resold or used on service calls. Many of these companies attempt to track their inventory in their head or struggle with Excel. As a result, their stock counts are constantly wrong or out of date, causing errors, wasted time and increased expenses. By using barcode technology, these companies keep an accurate count of what inventory is on hand, where it’s located, and even the cost of these parts. For example, we had an 18-man HVAC company save more than $40,000 per year after they implemented our barcoding solution, recouping their investment in one month.

As companies get a bit larger, say more than 50 employees, many assets that are used within the company such as computers, laptops, equipment, tools and even software are lost or misplaced. As a result, these companies lose time searching for items or spend money buying redundant assets. Using barcodes and asset tracking software, companies immediately know how many assets they have, which employee has them, and where they are located. For example, an IT support contract at an army base saved more than $30,000 per year in time previously spent tracking and auditing assets. Moving from pen and paper and an Access database, he easily paid for his barcode investment in less than one month.

Steve: What is the biggest advantage for small businesses using this kind of technology?

Grant: Small businesses are looking for technology that provides rapid improvement without costing a lot or requiring complex implementation. As you can see from the few examples I mentioned, the impact and return is felt in months. What’s terrific about barcodes is:

They’re simple and proven.
They are affordable.
They are easy to implement.

It’s a great message in today’s business climate: something that can quickly and effectively save time, save money and improve profitability.

Steve: There are many companies that don’t ship physical products but could benefit from this technology, like your time and attendance products. How does something like that work?

Grant: One of a company’s biggest expenses is its employees. That’s why using barcodes to track employees’ time can save money. Using a time and attendance system with badges, or even a “human barcode” (fingerprints), companies can save up to 4 percent of their annual payroll. This is achieved through accurate time calculation and eliminating “buddy punching”. Buddy punching is a term given when an employee punches in for their colleague when they may not actually be working. We had a 14-person manufacturing firm save more than $6,000 per year, which paid for our system in less than two months.

Steve: To wrap up I always like to ask a “five things” questions. So for you, what are five things a small business could do with Wasp Barcode Technologies that they may never thought of before?

Grant:

Save money tracking supplies like paper, pens, file folders – the things you use day-to-day in your business. You’ll be surprised at what you use – and how you can save big by making smarter purchasing decisions.
Save time auditing (counting and verifying) your company assets. Like when you clean your garage at home, you’ll be amazed how many things you’ve “lost” or misplaced that will save you thousands of dollars avoiding redundant purchases
Do more with less (or the same) people. Barcode automation allows your team to do more. Your business can grow without adding staff or become more efficient with the same staff
Start to work on your business, not in your business. With barcodes, reports can be generated to highlight trends. Use this information to make smarter business decisions.
Get mobile. Barcodes are not just tied to a PC. Now, web applications and mobile devices can scan barcodes, providing information you need immediately to improve your business.

Tags: grant wickes, small business, wasp barcode
Posted in Grow Smart Business Conference, Interviews, small business, Technology | 6 Comments »

Ted Murphy Gets #SmallBizCool

November 12th, 2009 :: Michael Dougherty

Here comes another #SmallBizCool from the floor of BlogWorldExpo 2009. This time around I get to talk to twitter and social media legend Ted Murphy about social media and security. Ted Murphy is well known for his his Twitter and Blog Marketing Company, IZEA.

At BlogWorldExpo 2009, Ted took a few minutes to explain social media is cool and give us the update on his latest product Sponzai.

You can learn more about Ted at his website IZEA.com and you can follow Tee on Twitter @tedmurphy

You can also reach me on Twitter by sending a message to @wickedjava, or on Facebook at facebook.com/mcdougherty.

As all ways if you have been reading, and this time watching, thank you and stay wicked.

Tags: #smallbizcool, BlogWorldExpo, conference, entrepreneur, Interview, Marketing, michael dougherty, small business, Small Business Trends, social media, success, Technology
Posted in BlogWorldExpo 2009, Interviews, small business, social media, Videos | No Comments »