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Small Business News: The Competitive Edge
Sep 8th
Small business is not for the faint of heart. And, while we’re on the subject, it’s not for those who want a predictable existence where everything stays the same. Making your small business work and then grow will require sharp thinking and decisive action. But most importantly, it will require a competitive edge. For any small business, survival will depend on going head to head with larger companies that are, in many cases, better financed and more experienced than you and coming out on top time and time again.
Tips
Don’t like change? Tough. Todd’s video post is brief and to the point but also happens to be the “top pick” by BizSugar visitor’s today. He’s got a great quote on change and a message that applies to everyone in small business today. Todd Youngblood’s “SE” Blog
Reaching those crazy-busy customers. No matter if you’re part of the sales force or the sales manager of an small to medium sized business or the owner of a little company trying to make that first sale, Tibor’s advice is to get used to dealing with busy prospects who have no interest in your product and no time to listen to your pitch. The Pipeline
Success Stories
15 entrepreneurs tell their stories. It’s safe to say most big businesses start as small ones so what we can learn from entrepreneurs who’ve built big and successful companies can be very informative to anyone starting their own small business. In this series of interviews, David Siteman Garland talks with 15 entrepreneurs who have succeeded in building $1,000,000+ companies. The Rise to the Top
Self-development
When David meets Goliath. S. Anthony Iannarino’s post aptly includes a photo of a slingshot, an obvious reference to taking on the big guy, a common experience for any small business owner or employee working for a smaller firm. Competing against larger established companies is a fact of life for small businesses, particularly startups, and succeeding against the odds is a matter of survival. The Sales Blog
Your attitude is everything. Whether you’re the guy out with prospects, customers and clients selling your own product as the head of your small firm or have a small sales force to do it for you, setting the tone with a positive attitude is critical. This post looks at how to cure your attitude as a sales professional, but as a small business owner you’ll be the lead sales person whether you’re the one going door to door or not. Sales Blogcast
Tech
Small town business survival. Martin Lindeskog interviews Small Biz Survival blogger and rural small business expert Becky McCray in this podcast covering the technologies and techniques that help small town businesses survive and thrive in the era of the Internet and how geography need no longer be a boundary for any entrepreneur. Ego
Contests
Have you contributed to the SugarTone Sweet Business Blogging Contest? The submission portion of the contest has ended but members of BizSugar.com and Bloggertone.com still have until Thursday to vote for their favorite blog or leave a compelling comment. The winning blogger will receive $350 in prizes and the winning comment $250. BizSugar Blog
Book Shelf
Clutch: Why Some People Excel Under Pressure But Others Don’t. Pierre DeBois reviews a book that could be about your business…or not. One thing for certain is that all small business owners face some level of stress and the trick is how the best respond. Small Business Trends
Competitive Selling: Out-Plan, Out-Think, Out-Sell to Win Every Time. Real success in small business comes down to being able to out perform the competition. And for companies short on financing and resources, this comes down to sales and lots of them. Good then that we have this book from professional sales trainer Landy Chase about the key to getting it right reviewed by Ivana Taylor. Small Business Trends
Conclusion
Giving yourself time to recharge. For Barry J. Moltz this means getting off of the Internet or off “the grid” as he calls it. But whatever it is that helps you rest and regroup is an important part of keeping that competitive edge. Without it, burnout will overtake the most dedicated entrepreneur and where’s the competitive edge in that. Your Business Unstuck
Small Business News: The Competitive Edge
View full post on Small Business News, Tips, Advice – Small Business Trends
America is Losing its High Tech Entrepreneurial Edge
Aug 2nd
Observers have long pointed to the United States as a shining example of entrepreneurship and innovation. In 2006, the Economist magazine gushed, “No country has mastered innovation and entrepreneurship as effectively as America.”
Perhaps that was once true, but it’s not anymore.
In a speech introducing the President’s new National Advisory Council on Innovation and Entrepreneurship, Secretary of Commerce Gary Locke said, “America’s innovation engine is not as efficient or as effective as it needs to be, and we are not creating as many jobs as we should.”
Recent data suggests that Secretary Locke is right. A study by the Information Technology and Innovation Foundation looked at the progress at innovation that 40 countries made over the past decade. The U.S. came in dead last. That is, whether they were ahead or behind us at innovation in 1999, the 39 other countries examined gained ground on us over the past ten years.
Fortunately, we were doing pretty well at innovation in 1999 so we still came in sixth in 2009. But the trend doesn’t bode well for the future.
Other studies also show our less-than-stellar innovation performance. A recent report by the Organization for Economic Development and Cooperation (OECD) looked at the per capita rate at which inventors in 38 nations filed for triadic patents – patents for the same invention filed in the United States, Japan, and Europe. The data shows that, in this event, we’re out of medal contention in eighth place, well behind countries like Switzerland, Japan, and Sweden.
Of course, while American business overall may be lagging in its innovativeness, our entrepreneurs might still be top of the heap at innovation.
The OECD data suggest not.
Looking at two measures – the share of companies less than five years old that file patents and the share of patents that went to companies under the age of five – across 13 industrialized countries, the United States came in third, after Norway and Denmark. While a respectable showing, it’s not where we need or want to be.
Moreover, the numbers have been getting worse, not better. As I explained in an earlier post, data from the U.S. Patent and Trademark Office shows that in 2001, 25.9 percent of U.S. patents went to small entities. By 2009, that number had dropped to 19.9 percent.
We aren’t investing in high tech start-ups the way we used to. In an earlier post, I pointed out the unhealthy trends in the U.S. venture capital industry. The number of deals made, capital invested, and exits are all down from their levels back in the mid 1990s, before the Internet bubble hit.
Venture capital accounts for less of U.S. economic activity than that of many other countries. As the figure below shows, in 2008, the U.S. invested a smaller share of its gross domestic product in venture capital than ten OECD countries, and a larger share than only twelve of them.
While the U.S. still remains a solid player at high tech entrepreneurship, the trend over the past decade makes it difficult to say that “no country has mastered innovation and entrepreneurship as effectively as America.”
America is Losing its High Tech Entrepreneurial Edge
View full post on Small Business News, Tips, Advice – Small Business Trends
Search Engine Optimization Company Offers Edge in Website Optimization and Link Building
Jul 21st
| New Pulse Management, a search engine optimization company, talks about their edge in the highly contested internet marketing industry saying its their… |
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Small Business News: What’s Your Edge?
May 15th
Believe it or not, your small business has an edge. No, you might not be as well-funded, well-connected or even as well-established as the big guys. But something convinced you to go out on your own. Something convinced you that you could compete. You are smaller, more agile, more adaptable than your larger competitors. And maybe more imaginative too. Don’t miss any opportunity to hone that edge. Or any tool that can help you do it.
Referrals
The best way to get new customers. It costs less and yet is probably more reliable than any other method imaginable as a tool to grow your business, especially in the beginning. So why do so few small businesses do it well? In this interview with John Jantch of Duct Tape Marketing we learn more about the technique that, more than anything else, will change the way you do business. The Rise To The Top
Teaching your business to market itself. “If we all know that referrals are the best, most cost-effective marketing strategy, then WHY OH WHY do we continue to leave referrals up to fate or some happy coincidence?” asks Ivana Taylor in the lead of her review of John Jantch’s new book The Referral Engine also discussed in the interview above. Small Business Trends
Startup
Think you can’t start a small business? Read this inspiring interview with Weldon Long and think again. After 20 years, as Long describes, “broke, homeless and drunk” including a 13 year stint in prison, he turned his life around to build an Inc.5000 company with more than $20,000,000 in sales. Entrepreneurship Interviews
From ex-felons to entrepreneurs. Business owner Todd Pemberton has a unique approach to rehabilitation. When ex-cons Pemberton has worked with get out of the clink, they often become small business owners of their own. He’s also hired some paroled ex-felons motivated by a very different kind of investment. Read his story. Inc.com
Social Media
What one tool should your small business consider using today? If asked, Becky McCray would answer social media, adding that, rather than being overwhelmed by the many possible channels out there, small business owners should focus on just one. And that one should be Facebook. Listen to the full podcast discussion. Bigg Success
Want to know the real power of social media to help small business? How about the story of how the 20 something Hampton, Iowa, entrepreneur of a shop known as Orange Possum who won a $5,000 small business grant just because supporters nominated her in an online contest and encouraged others to vote via Facebook. What could you do with social media to boost your small business? Need A Little Advice?
Marketing
Putting your eggs in one basket. In addition to e-mail and traditional marketing, there are many other solutions out there including guerrilla marketing and social media marketing. The success or failure of each will vary with the type of business you run and the market you are trying to reach. So be informed about your decisions. Prisma Graphic Blog
The secret to NoFollow marketing. With increased emphasis on preventing simple link building SEO strategies with use of NoFollow tags on YouTube and other social networks, don’t make the assumption these platforms are now not particularly helpful when planning your online marketing strategy. Business consultant Paul Rudo makes this recommendation when approaching at least one kind of NoFollow marketing. Small Business CEO
Policy
Progress in the movement to set limits on credit card interchange fees? On Thursday, the U.S. Senate passed a bill giving the Federal Reserve the authority to regulate interchange fees. But the bill must be reconciled with proposed legislation in the U.S. House before becoming law. Vantage Viewpoint
Here’s more on the effort to regulate interchange fees. But we wonder if it doesn’t just amount to intrusion into the marketplace to set limits making it a simple form of protectionism. What do you think? We’d love to hear. Leave your comments below. Small Business Trends
Small Business News: What’s Your Edge?
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Republicans Hope to Maintain Social Media Edge into Midterm Elections | PBS NewsHour | May 4, 2010
May 5th
| As part of a look at how both political parties are… and their allies are looking to harness new media in advance of this year’s elections. |
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Stocks edge lower at open; realty, metals down-Market News-Stocks-Markets-The Economic Times
Apr 22nd
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“Near term outlook on the market remains negative and will remain so until we see a resumption of higher-top higher-bottom formation on the daily… |
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Small Business News: The Bleeding Edge
Apr 15th
Are you an innovator? Is your small business on the bleeding edge — from technology to management, marketing to products and services?
Today’s edition of small business roundup for April 14, 2010 from the Small Business Trends team follows news and blogs looking at innovation in small business on every level so that you can mirror others’ success and create your own frontier of small business success.
Biz Tech
Small business owners and entrepreneurs abroad may have to wait for their iPad. The reason? Too much U.S. demand. Yahoo! News
Visit your customers online. What their Web presence can tell you. M4B Marketing
Get your product or service online in 5 minutes. No kidding. Na’ama Moran of Zappedy tells you more. Smallbiztechnology.com
Changes at Yelp. How the customer feedback site continues to evolve and listen to its stakeholders. Small Business Trends
Innovative small business. How to beat the big guy when he’s stealing your thunder. NYTimes.com
Operations
How not to grow your business A lesson in forecasting, partnership and management gone wrong. You’re The Boss
Who owns your business? And what does it mean for your success? Winning Workplaces
All in the family. Family businesses bring both unique opportunities and unique challenges. Here are some details. America’s Best Business Practices
Policy
Think government efforts will spur business growth? Watch these two interviews from Larry Kudlow. National Review Online
Where have your customers gone? They may be part of the 66 percent of Americans worried about high taxes. Rasmussen Reports
Startups
What goes into a successful startup. It may take more than a great idea. Sustainable Startup
Social Media
Are you one of those people who think social media for business is a waste of time? Then have we got the post to set you straight on the subject. Weblinx
Are you a social media superstar? Find out how to become one for your small business with Peter Shankman of HARO. The Entreprenette Gazette
Improve your Facebook engagement. Are you worn out by becoming a fan on hundreds of Facebook Fan pages? This is a terrific tutorial on how to declutter your news feeds so you can focus on what you really want to read. Social@Blogging Tracker
Small Business News: The Bleeding Edge
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Join The Immediate Edge
Apr 12th
| Are you looking for the key to take your Internet Marketing (and the money you make from it) to the next level, without the horror of learning… |
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Infogroup Offers Direct Marketers Cutting Edge Insight by Combining New Social Media and Interactive Products and…
Mar 29th
| , the leading… it is expanding its high impact marketing solutions to include social media and interactive products and services for small, medi… |
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Follow THE BIG LIST of social entrepreneurs on twitter p1 on Twitter
Oct 16th
| Peer sourced social entreprenuers on twitter currated by social edge and peer review in accordance to this criteria http://budurl.com/4enp socialedge -… |
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