Posted by Biz Central USA Marketing Team on May 26, 2009 under Small Biz and Entrepreneurship | 
Traditional means of marketing are not dead; in fact, they are still very much alive and proving to be effective. Tactics such as face-to-face networking and word-of-mouth is proof of this. When deciding on what business networking methods you will use, it is important to first, understand how networking can work for you. Second, research what groups are right for you. Third, make a goal for what you want to accomplish.
Business networking in the form of joining and meeting with trade groups, industry associations, chambers of commerce and similar organizations in person can flat out increase your bottom line. By meeting other professionals in person, on common ground and at a place of mutual interest, you will begin to form relationships among your community. Once you start building relationships and regularity among these groups, members will begin to remember you, your abilities and your expertise. The next time a member needs something in your field; they will remember you and therefore will probably reach out to your small business. In essence, you will form a loyal network of followers who may at some point need your business, refer your business or want to collaborate on a joint goal. Overall, business networking is a great way to reach out to your local community, gain new prospects, learn new methods and in the end increase sales.
The possibilities are endless when it comes to networking and the cost of membership is usually low, but to avoid wasteful spending and time, you must do your research. An easy place to start is to check out your local chamber of commerce. Stop by the city office or attend a meeting to learn a little more about them. By joining the chamber of commerce, you will be able to reach more local businesses and you will have an array of resources available to you. Businesses in the chamber of commerce will vary in industry, sector, demographics and capital, giving you a more versified group to interact with.
Another option is to join an industry related trade group or association. Many trade groups and associations are national, but have local chapters that meet regularly. Trade groups and associations will differ from chambers of commerce in that you will be networking with professionals in your industry, but not necessarily in your sector. The major benefits to becoming a member of a trade group or association is the industry related resources and educational opportunities that will become available to you. Determining what groups, associations, chambers of commerce etc. will require assessing your goals to point you in the right direction.
Defining your goals will help you make the most of your new membership. Is your goal to learn more about the latest industry happenings? Do you want to reach out to your local community? Are you looking to meet other professionals to collaborate with? Whatever your reason to join a group, association, chamber of commerce etc., there should always be a goal involved with it that will directly or indirectly help your business.
Integrating business networking into your marketing initiatives will prove to be a smart decision. You will increase your bottom line by gaining a presence in your community or region, staying educated in industry trends and earning more word-of-mouth recognition among your peers and future consumers.
Posted by Biz Central USA Marketing Team on April 28, 2009 under Small Biz and Entrepreneurship |
When it comes to small businesses, many companies may have the desire to do right by the planet, but many times they feel they are not capable of doing so because it is far too big of a task. This couldn′t be further from the truth. As a small business or even a large corporation, you can actually do big things to help the planet by barely doing anything at all. Solar water heating, HVAC systems and wind turbines aside, here are a few simple tips to get you started toward a more sustainable business.
First and foremost, reduce, reuse and recycle are three terms your small business should live by if you are interested in becoming a more eco-friendly organization.
- Reduce: Reducing your amount of waste is a great way of helping the environment. Using a computer and switching from print or direct mailing to email and digital collateral can be a great way of reducing the amount of paper and ink you use.
- Reuse: Instead of throwing things away, why not try to find other ways of utilizing them. For example, the handy note tablets that you write any and everything on. Rather than throwing out the table once all of the front pages are filled, use both sides of the paper.
- Recycle: Many of the materials your company uses everyday are made out of material that can be recycled, but because business waste management services can be so expensive, many companies choose not to use them. If this is the case, try to network with other local businesses and purchase the service in conjunction with them. This way you will be splitting the costs between multiple companies and networking at the same time.
Once your company has the three R′s (Reduce, Reuse, Recycle) set in motion, the next step is to make an effort to convert to more environmentally friendly office supplies and practices. Both large and small supply stores now carry many green, natural and organic products such as recyclable paper, CFL or LED light bulbs, natural base cleaners and low VOC paints, just to name a few. In addition to purchasing more eco-friendly products, analyze your current practices to see if you are making all efforts possible to reduce harm to the earth. Turning off lights when no one is in the room, shutting down power strips at the end of the day and refilling ink cartridges instead of buying new ones are a few ways to get started. Think about these things on a large scale. When purchasing supplies and changing your attitude it may seem insignificant to your company at first, but the effects can be greatly rewarding in the long run.
You have started following the three R”s, converted to eco-friendly office supplies and practices and you feel you are on your way to a more sustainable business. Finally, for all of the things you simply can”t control, such as daily commute, business traveling, electricity consumption and more, you can offset their carbon footprint. Services such as Terrapass, Carbon Footprint and Carbon Fund have great tools to calculate your business” carbon emissions. Once calculated, they will offer you tailored solutions to aide your company in becoming carbon neutral.
Running a green business is not only good for the environment, but it is also a benefit for your bottom line. Whether your company”s goal is to become a 100% sustainable business or to moderately practice environmental stewardship, taking action is the first step. In the end doing your part to save the planet may also be saving your company some real green!
Posted by Biz Central USA Marketing Team on March 31, 2009 under Small Biz and Entrepreneurship |
So you met the tax deadline and your feeling pretty good, but what happens if the IRS decides to audit you? Will you be prepared? According to IRS officials, the audit rate for small business taxpayers is higher than the overall rate because small businesses tend to have more compliance problems than other taxpayers. How do you know if you are at risk? Really, there is no way of definitively knowing this answer.
The IRS selects returns for examination in five ways: 1)Computer scoring by DIF (discriminate information function), a formula used to select returns for review, 2)National Research Project, 3)Local and national projects that look at particular areas, 4)Information matching, such as Forms 1099, 5)Related returns. If selected, it′s good to know that some audits are worse than others.
Three Types of Audits:
• A Correspondence Audit- by mail, asking for a straightforward answer (by mail) on less complicated issues, such as proof of deductions.
• An Office Audit- held in the IRS office, where you′ll be asked to produce receipts and other documents related to specific issues.
• A Field Audit- where the IRS agent comes to your home or place of business.
While tax professionals say it is unlikely the IRS will come knocking at your door, if you are choosen, it′s definitely not a good place to be. After all, audits cost time and money – two things most small business owners have in short supply. Therefor, the best thing to do is be prepared!
Preparing for an Audit:
• Always keep any business-related records including: canceled checks, invoices or sales slips, handwritten notes, receipts or petty cash vouchers showing any payments etc.
• Pinpoint problems backing up income sources or expense deductions. You′ll need to legally show your right to take tax deductions or other tax benefits claimed on your return.
• Retain the service of a professional. Hiring a seasoned professional can make this experience less painful and cost you less in the end.
A IRS audit is nothing to take lightly. Improper bookkeeping and faulty filings can lead to thousands of dollars coming out of your small business. In the end, the more prepared you are, the less likely you will be penalized with hefty fines and the more likely your business will succeed!
Posted by Biz Central USA Marketing Team on March 19, 2009 under Small Biz News |
In efforts to jumpstart the Recovery Act in ways of small businesses, President Obama and Treasury Secretary, Timothy Geithner, 
announced Monday that the Government will increase lending guarantees administered by the Small Business Administration and plans to spend $15 billion to bolster the secondary market.
Currently the SBA guarantees payment on 85 percent of a loan up to $150,000 and as much as 75 percent on loans of more than $150,000. The plan will increase this to 90 percent across the board. The increase reduces lender risks as an incentive to make loans. In addition, the plan also waives fees up to $75,000, which borrowers usually pay for the loans.
“Small businesses are at the heart of the American economy,” Obama said Monday. “This is going to be a first step” to help entrepreneurs.
Under the plan, the administration will also require the 21 largest banks getting government bailout money to provide monthly reports on how much they are lending to small businesses, and all other banks must make quarterly reports on such lending.
Treasury Secretary, Timothy Geithner, pushed forward to urge banks “to go the extra mile” to offer loans, stating “they bear a “social responsibility” to assist in the recovery because of their role in the financial crisis.”
As a small business owner, what are your thoughts on these first steps to recovery? How will an increase in loan guarantees assist you as an entrepreneur?
