Home Wealth Project
Extensive Research On How To Build Wealth From The Comfort Of Your Own Home.
Steps and Strategy: It’s About a Niche and Productivity
Jan 27th
Small business owners often shoot from the hip, do what others will not do and sometimes attempt to accomplish monumental tasks in small amounts of time with limited resources. I respect the ambition. We have things like the telephone, the car, the ipod because of this frontiersman like ambition. But there is a process to everything.
As John Mariotti says in, “You Can’t Rush The Harvest:”
“After the right steps are taken the crop grows and matures.”
While he was talking about government programs, spending and job creation, it holds true for business development. So, instead of diving in head first, take a few strategy steps first.
Here are two areas to consider: Niches and Productivity.
Niche It And Make It Stick
In “How To Find A Market Niche That Makes Money” Ivana Taylor says:
“It’s counterintuitive to think that by focusing on a smaller market you will actually make more money, but it’s true.”
Niches give you a chance to focus on a target market. That focus means you can truly know your entire market and create solutions that resonate with them. Instead of having an “every man” product, you can effectively create the “go to” solution for your niche.
Focus is powerful. The problem is small businesses are often slow to accept the power of niches and choose to serve everybody. Well, Walmart type companies have everybody covered, you can afford to niche and take care of specific markets.
Lean, Mean Productivity
We are not factories, but productivity matters to us just like any other company. Are you getting the best bang for your buck? Are you making the most of the time that you pay for? How much are you getting done?
Even if it’s a one man or one woman business, you still want to know that your tools, your independent contractors, your late night efforts are saving you time and making you money. You want to know that it’s worth it. And there’s only one way to know.
In “Pride And Productivity: A Win Win Combination,” John Mariotti says, “If you want productivity to be good—and get better—then measure it and manage it.” You have to track your efforts. And you have to manage the work.
But how?
For businesses with employees, managers are important. That’s their role. They need to understand the business, the team and the company goals. Then they are responsible for inspiring, informing and managing the outcome.
For solopreneurs you have to manage yourself. And that means tracking your efforts. I suggest a time sheet that documents how many hours you spend on each task and the end results. This way you can see if you truly save money by designing your own website, being your own bookkeeper, and developing your own marketing strategy without the support of an experienced team.
I use an app to measure my activity (so that I can track it in my phone—iTimesheet). And it has been an eye opener. This data helps me understand which activities cost the most and make the most.
Remember, the cost of time always counts.
Niche Photo via Shutterstock
Steps and Strategy: It’s About a Niche and Productivity
View full post on Small Business News, Tips, Advice – Small Business Trends
Consumer Confidence: It’s a Bit Murky Out There
Jan 26th
As small business owners in a recession, we eagerly await any news that consumer confidence is rebounding to normal levels. But looking at consumers as one undifferentiated mass is a big mistake. As the latest BIG Research Consumer Intentions & Actions survey uncovered, consumer optimism may be on the rebound among some groups, while it’s falling among others. Knowing what your customers think is key to successfully marketing to them.
BIG surveyed consumers in four age brackets:
- Silent (born 1945 or earlier)
- Baby Boomers (born 1946 – 1964)
- Gen X (born 1965 – 1982)
- Gen Y (born 1983 – 1993
Gen Y (there are various “definitions” of the age of this generation) was the most likely to be feeling confident that the U.S. economy is going to return to its pre-recession days. More than one in three (36.7 percent) of Gen Y felt this way. At the same time, Gen Y was also the most likely to feel uncertain about the future of the economy (37.5 percent).
Generation X was close behind its younger cohorts, with 35.8 percent feeling that the economy will bounce back, and 33.9 percent feeling uncertain.
More pessimistic were the Baby Boomers and Silents. Only 29.5 percent of Boomers and 26.8 percent of Silents felt that the economy will bounce back to its former days. In contrast, 39.3 percent of Silents and 37.9 percent of Boomers believe the economy will never recover. (33.9 percent of Silents and 32.5 percent of Boomers were uncertain.)
Least pessimistic? Generation Y—just 25.8 percent felt the economy will never recover, and only 30.3 percent of Gen Xers felt the same.
What’s the reason for the different attitudes? And more importantly, how can your understanding of them help you market to the different age groups?
Silents: Silents lived through or were closely affected by periods of hardship. Some lived through the Great Depression, and all grew up in the shadow of World War II, so they are used to saving and sacrificing. So their pessimistic attitudes may reflect the attitudes they were raised with. To market to this generation, focus on value—not just cost savings, but products and services that are worth the price.
Baby Boomers: Born and raised in unprecedented economic good times, Boomers have taken hard knocks in this economy. They’ve seen their retirement plans decimated and since many of them are caring for aging (Silent generation) parents, they’re shouldering their parents’ financial burdens as well. Add to it the return of adult children to the nest, and Boomers are feeling pretty squeezed. But Boomers still want to treat themselves, so marketing to them should focus on how your product or service can save them time or money, how it can enable them to enjoy life (the way they feel they deserve) or how it can give them a well-earned break.
Generation X: Generation X is in the throes of marriage and parenting and are at the prime of their work careers. This is the stage when consumers, no matter the economy, have to make lots of big purchasing decisions—buying homes, planning weddings or gearing up for babies. Gen X has high expectations for success but a lower budget to achieve it. Target these stressed-out consumers with products and services that help them feel good about themselves without breaking the bank. And be aware that they’re fully tapping the power of the Internet to find and share the best businesses and the best deals.
Generation Y: While they may be the most optimistic, Gen Y has less money to spend than the other groups, simply due to their life stage. However, because they have fewer commitments, they may have more disposable income. Target them with products and services that help them connect to their peers while still being affordable for their limited budgets. One option that can work well for Gen Y is offering different price packages for your product or service. Pricing at a basic level, mid-level and premium levels can appeal to their budgets as well as to their beliefs that eventually, the premium level will be within their reach.
Learn to target the different generations in your marketing, and you’ll see sales that will have you feeling a lot more optimistic about the economy.
Stormy Economy Photo via Shutterstock
Consumer Confidence: It’s a Bit Murky Out There
View full post on Small Business News, Tips, Advice – Small Business Trends
It’s A Stick-Up: Gimme Your Bandwidth!
Dec 23rd
So I’m at the airport and for whatever reason my super-duper smartphone, which is apparently from the not-too-distant future, just will not find a signal.
Okay, no big deal, except that apparently everyone around me is busily typing away, being productive (or not), and enjoying some sort of WiFi that has shunned me and my poor little gadget.
What I wouldn’t have done for five minutes of good, strong WiFi. Would I have gone as far as the criminal in this cartoon? Probably not.
Err . . . probably.
It’s A Stick-Up: Gimme Your Bandwidth!
View full post on Small Business News, Tips, Advice – Small Business Trends
It’s Only a Case of Viral Marketing
Dec 3rd
Viral marketing is apparently the holy grail of advertising now. Post a video of something funny, awkward or hopefully both, and hope that you’re the next big Internet sensation.
Still, you’d think people in advertising would be able to craft a term a little more friendly than “viral.” It sounds like something that’s going to keep you on the couch with some chicken soup for a good week.
And it’s that observation that led to this cartoon.
It’s Only a Case of Viral Marketing
View full post on Small Business News, Tips, Advice – Small Business Trends
It’s Always Been About the Relationship
Nov 30th
It’s Always Been About the Relationship
This content from: Duct Tape Marketing
Marketing podcast with Mari Smith (Click to play or right click and “Save As” to download – Subscribe now via iTunes or subscribe via other RSS device (Google Listen)
Lots of marketers question the ROI of this tool or the impact of using social media in this way, when the real filter in marketing is and always has been the ability to create and foster relationships.
In fact, you can make decisions about which social media platform you should dive deeper into by simply asking this question – could this platform help us build deeper relationships with our customers? If you can answer yes to that question than you should jump in and figure out how to use it for this purpose.
I think the proliferation of social media and the accompanying ease at which you can build “friends” muddies the fact that the foundational elements of true relationship are platform neutral – the real payoff comes from the relationship mindset.
I visit with master relationship builder and author of The New Relationship Marketing: How to Build a Large, Loyal, Profitable Network Using the Social Web
The new relationship building refers to best ways to employ the new social tool set to do the kind of relationship building that’s always been a crucial aspect of effective marketing.
Mari has built an international business on the back of social media tools by understanding like few others just how powerful these tools can be in the hands of someone that gets it’s all about the relationship. (Okay, she also works her tail off too.)
There is much to learn about how to use the new breed of online tools for good by reading The New Relationship Marketing, but I would urge you to also pay great attention to what Smith does online and off and she’s such a great example of practicing what she preaches.
You can listen to the show by subscribing the feed in iTunes or a variety of other free services such as Google Listen (Use this RSS feed) or you can buy the Duct Tape Marketing iPhone app. (iTunes link – Cost is $2.99) or
View full post on Small Business Marketing Blog from Duct Tape Marketing
Jeff Haynie of Appcelerator: It’s About People and Relationships
Nov 25th
If you want to get in front of your customers and prospects today, you’ve got to be where they are, which is on their mobile device. And Jeff Haynie believes that to build a great company, it’s about people and relationships. “People aren’t just employees, they are partners, investors and the whole ecosystem that it takes to build a successful, fast-growing company.”
In this interview, Brent Leary spoke with Jeff Haynie, whose platform and services company enables Web developers to build applications for mobile, tablet and desktop platforms, to learn how smart entrepreneurs are tapping into the power of mobile apps to transform their businesses.
* * * * *
Small Business Trends: Tell us a little bit about Appcelerator.
Jeff Haynie: This is my third venture-backed startup. We are focused on mobile app platforms and helping companies build mobile and tablet solutions.
Small Business Trends: Speaking of mobility from a different perspective, you moved from Atlanta to Silicon Valley to start Appcelerator. Why did you have to make the move? There are a lot of folks starting technology businesses outside of Silicon Valley.
Jeff Haynie: You can start a business pretty much anywhere today. For me, having raised money before, building a great company is about people and relationships. As much as social networks help us amplify relationships, it’s no replacement from sitting across from somebody and having a heart-to-heart discussion.
I felt the best place for our business was being in the heart of where disruption and innovation and capital happen. A wise investor told me a while back, if you want to be an actor, you go to Hollywood. If you want to be a stockbroker, you go to New York. If you want to be a technology entrepreneur, you come to Silicon Valley.
Small Business Trends: Do you think you could have created Appcelerator in Atlanta, or would it just take a lot longer?
Jeff Haynie: I don’t think every business needs to follow these rules, but for our company, I don’t think we would have been able to do [in Atlanta] what we have done [in Silicon Valley]. Often in new companies, it’s about getting great people that are experienced and understand how to build high-gross companies. Those people aren’t just employees, they are partners, investors and the whole ecosystem that it takes to build a successful, fast-growing company.
Small Business Trends: What are some of the main trends businesses should be aware of in creating mobile applications to engage with their customers?
Jeff Haynie: It’s increasingly about getting in front of alternate screen devices–smartphones, tablets, smart televisions. We are going to see a lot more of that with surface computing and telematic and wall-based computing. People are calling this the post-PC era.
The PC’s not dead, but we are seeing that more and more capabilities and opportunities exist with the devices in your pocket that are always available and always on. And the ability to build mobile applications that enable companies and their employees is low-cost and available today.
That is the big opportunity businesses have to expand both their business, especially if they are a SaaS or a software company, and their productivity.
Small Business Trends: Are you surprised at the speed of acceptance of tablet devices?
Jeff Haynie: On one hand, yes, if you look at how fast the iPad resonated. They are now selling in revenue terms more in iPads than in their existing desktop and laptop line. That’s in less than 18 months of a product’s introduction into the market.
But on the other hand, no, in the sense that we in the technology community have always imagined these devices. We have always talked about ebooks and tablets and slates. The costs have dramatically come down, and combined with high-speed data networks and the widespread use of public Wi-Fi, that is a perfect storm for these devices to dramatically change the way we work, the way we consume content and the way we interact with business and consumer-based systems.
Small Business Trends: What about the adoption of app marketplaces?
Jeff Haynie: Again, there’s a perfect storm from external factors. Apple has helped the world understand how to buy things digitally. Apps have been somewhat removed from the traditional process of [software] distribution and maintenance, which has really helped oil the machine.
When you see the richness of what you can do with apps, it doesn’t mean Web content is going to get killed. It just means a lot of new opportunities for businesses.
Small Business Trends: What does the Amazon Android Marketplace mean for the way we embrace applications on mobile devices?
Jeff Haynie: It’s a great opportunity for everybody. Amazon has a phenomenal consumer transaction engine, combined with Web services infrastructures, which is a bigger and bigger part of their core business. That is going to propel the adoption of applications, and it provides a great community from a distribution and marketing standpoint.
In the early days, the Internet was great because anybody could produce a web page. It was problematic because it was impossible to find all of the websites in the world, until Google came along and created a business model to make money through driving search.
That’s what is happening in the marketplace right now. It’s still a little messy, but I think mobility [is going to create new] business models.
Small Business Trends: For companies that are just starting to think about creating mobile apps aimed at engaging customers, what are some things they should be aware of?
Jeff Haynie: We recommend companies start with strategy and understanding the mobile way. Mobility is not just taking your website or content and miniaturizing it. You have to ask, How does mobility impact my business and what can I do to take advantage of that?
Think about the insurance industry. All the insurance companies are making reporting accidents using mobile devices much better. The impact is driving costs down from a call center standpoint and faster turnaround in capturing all of the necessary data. That transforms the business, creates a much better relationship with the customer and ultimately creates efficiency and top-line capabilities you don’t have with a call center or with the traditional process.
[They] are not just thinking about, OK, I just look up where my closest agent is or how to find the website of my insurance provider. Businesses small and large need to look at mobility as a tool for transforming their business.
Small Business Trends: Where can people learn more about what you are up?
Jeff Haynie: Our website, Appcelerator.com.
This interview is part of our One on One series of conversations with some of the most thought-provoking entrepreneurs, authors and experts in business today. This interview has been edited for publication. To hear audio of the full interview, click the right arrow on the gray player below. You can also see more interviews in our interview series.
[To listen to audio, click this icon]
Jeff Haynie of Appcelerator: It’s About People and Relationships
View full post on Small Business News, Tips, Advice – Small Business Trends
Google + For Businesses: At Long Last, It’s Here
Nov 9th
After much anticipation, we’re finally seeing Google + Pages for business. They function much like Google personal profiles do: you can update your status, add people to Circles, host video Hangouts (video conferences) with others, and interact with other brands and people.
Think of a Google + business Page as a mini website for your business, with social networking features built in, and hosted by Google.
The Official Google Blog says:
“For businesses and brands, Google+ pages help you connect with the customers and fans who love you. Not only can they recommend you with a +1, or add you to a circle to listen long-term. They can actually spend time with your team, face-to-face-to-face.”
Google launched the new Pages with several brands as examples, including The Muppets, H&M, and Zen Bikes, all of which already have followers in the thousands.
What’s In it For Google
As you might expect, Google wants to make Google + as integrated as possible with other Google products. So the following two features are not that big a surprise:
The first feature is called Direct Connect. If you are searching on Google for a brand, simply put the + symbol before your search term to find the direct link to the company’s Google + Page (if they have one). You’ll automatically follow the company by searching with the new “+ company name” if you choose this option, and be taken to its Google + Page.
The other feature is simply that Google + Pages (and Profiles) appear in Google search. In searching my own name, my Profile was the first result. I’m not sure if this is a good thing or not. But at the very least, if you regularly update your Profile, it seems like a good way to connect with other Google + users.
What’s In It For Small Businesses
The new Pages provide another online place for any business, including small businesses, to get exposure to new potential customers as well as to connect with existing contacts. Melinda Emerson, The Small Biz Lady, set up her business Page today. Emerson said:
“My team and I grabbed my Page for my SmallBizLady brand because we believe in the long term integration strategy of Google +. And we want to be a part of it.”
With Google’s Direct Connect forging a link between its Plus + product and Google search, small businesses have more opportunity to be found. Also, you’ll have the ability to target different segments of your audience through Circles (think different “circles” for Prospective Customers, Women 18-35, Men 60+, or even Employees). That means you’ll be able to target messages much easier to different demographics or groups of people. You can also see what conversations are going on in each of your circles — great for market research.
Some Drawbacks
There are a few drawbacks at this early stage of Google +. One is the lack of vanity URLs. Right now, your profile URL looks like this: https://plus.google.com/u/1/112445753792040250232/posts. I’m sure Google will get around to putting in user names or brand names in this, but for now, it’s unsightly. And long and non-user-friendly.
Google + Pages are also lacking analytics, and I’m sure that will be addressed as well. But for now, I want to know why I should put more effort into using Google +, and analytics are a great way to convince me. After all, if I’m getting traffic to my Google + Page, and analytics show it, then it may be worth my while.
Jesse Stay, author of Google + for Dummies said:
“Plus Pages aren’t going to be exactly like Facebook Pages – that may be the “con”, per se, since they don’t have near as many features. They don’t allow more than one admin to use the interface, there are no social media management tools that you can interface yet, which makes management of these Pages much more difficult. However, I expect Google to fix these issues soon and iterate quickly…It’s worth it right now to get in early while the buzz is strong so you can build an audience now on this new network.”
With over 40 million signups in the first few months since Google + launched, adding Business Pages, which many of us have been waiting for, should only boost those user numbers. But will it be the Facebook Killer? Only time will tell.
Ready to jump on the Google + bandwagon with your business? Sign up here.
NOTE: it appears that you must first have a Google account to create a Google + Business Page.
Google + For Businesses: At Long Last, It’s Here
View full post on Small Business News, Tips, Advice – Small Business Trends
Obama Benefits From Good Luck Internationally, But Domestically It’s a Different Story
Nov 2nd
When a president takes office, sometimes luck is on his side, other times not.
Internationally, much progress has been made in bringing down some of America’s top enemies. The death of Osama bin Laden lifted spirits briefly but now seems like a distant memory. Muammar Gaddafi had long taunted the U.S., and the president’s patience and support of Libyan rebels has resulted in the dictator’s demise. Similarly, persistence paid off in the pursuit of American-born terrorist Anwar al-Awlaki. Soon U.S. forces will leave Iraq. These international events are positives for President Obama.
The stock market zoomed on October 27 as a long-sought agreement by European leaders to boost the bailout fund for struggling economies. While the Dow has been on a roller coaster ride this year, overall the market has recuperated nicely from its doldrums earlier in the year. This latest international news helps.
President Obama has said the country must tackle its greatest challenge as a nation: rebuilding our economy. He connected this task with the successes of the military, saying we need to create jobs with the “same urgency and unity that our troops brought to their fight.”
Meanwhile, fortune has not been on the president’s side domestically. International successes often do not translate into domestic success. President Obama inherited a down economy that has not truly recovered. On the one hand, the recession helped him defeat his Republican challenger since the party in power usually takes the blame when the economy tanks. However, since unemployment has not improved all that much, the president needs an economic recovery or else his reelection prospects will be grim. Just ask George H.W. Bush.
President Obama has tried a number of initiatives with mixed results. The SBA has largely proven effective in providing capital to startups and growing businesses. However, less than half of the banks eligible to take advantage of the Small Business Lending Fund did so, and a number of those institutions used the available capital to repay their TARP obligations, which was not how the money was intended to be used.
The president’s first stimulus plan spent a lot of money, but did not yield the anticipated results in jump-starting the economy. His opponents argue that the initiatives have made things worse, and the fact that the country’s deficit has gotten larger does not help in the long term. He is having trouble selling his current jobs package.
Still, scaling back on the expense of the war in Iraq should reduce military spending significantly, and the president is likely planning an exit strategy for Afghanistan – if one is possible without hurting U.S. security. The new StartupAmerica is getting off the ground with a goal of stimulating economic recovery.
The entrepreneurial spirit remains part of the fabric of America. The president is doing everything he can to harness it and help small businesses, which generate a majority of the new jobs in the economy.
Obama Benefits From Good Luck Internationally, But Domestically It’s a Different Story
View full post on Small Business News, Tips, Advice – Small Business Trends
It’s Your Biz: A Good Book for Startups
Oct 15th
That’s it! You’ve finally decided to start that business. Your friends and family are supportive and think that you can really set the world on fire with your Italian restaurant, cupcakes or hunting knives. You’re all fired up and ready to go.
But wait! Before you go headfirst into your new life and new venture, take a couple of hours and read through Susan Solovic’s new book It’s Your Biz. I received a Kindle review version of the book from the publisher a little while ago. I’m not going to be able to give you detailed descriptions of the book or the chapters because the Kindle version doesn’t lend itself easily to that.
You may have seen Susan Solovic (@SusanSolovic) on television because she makes appearances on ABC News, Fox Business News and MSNBC as a small business contributor. The last time I saw her on TV, she was sharing her experiences as a woman in business and what the future for women in business held.
You’ll get much of this same common-sense advice in It’s Your Biz. Solovic doesn’t hold back on telling it like it is. There are several pieces of advice that I’ve gleaned so far that will give you a flavor for what I mean:
- Write a business plan yourself. It doesn’t matter if it’s on a paper bag, as long as it clearly communicates the who, what, where and when of your business.
- Build your business for the future. I heard Susan mention this bit of advice while we were on a radio show panel together. The next day I completely reworked my business plan to reflect this concept. Most of us build a business we can run today. We don’t plan or create the systems that will allow other people to do the things that we are doing ourselves today. It’s basically the same advice you’ll get in the books E-Myth and Built to Sell: Build a turnkey business machine – not just a job for yourself. Brilliant.
- Don’t be influenced by friends and family. At one extreme, friends and family will push you to start a business without realizing that you are the one taking the risk. They don’t want to squelch your dreams or to make you feel bad. And so you listen to their encouragement without doing the necessary research and fail. At the other extreme, friends and family may not support you at all. This is your business – make your own decision after you do the work and gather the evidence to support it.
These are just a few nuggets of advice from the first section of the book. There are many more where that came from.
Who should read this book?
If you’re just thinking about going into business for yourself, this is a great book to get into before you jump into the entrepreneurial pool.
If you know someone who is thinking about getting into business for themselves, this book makes a terrific gift. It will show your support and give you both the opportunity to go through the book together and discuss it.
Coaches and consultants who work with startups would also get some benefit from this book. I read a lot of books about startups. Sometimes they all seem to run together, but I always get something worthwhile out of each.
Overall, It’s Your Biz is a great book to read if you’re thinking about starting a business, or even if you already have a business and want to review all the basics to make sure that you’re on track. With the new year approaching, this is a great gift and business book to review and reference to grow your business.
It’s Your Biz: A Good Book for Startups
View full post on Small Business News, Tips, Advice – Small Business Trends
Women Owned Businesses Have Come a Long Way But It’s Not Far Enough
Oct 12th
How do women-owned businesses differ from companies owned by men? Not as much as they used to, according to a recent study from the SBA’s Office of Advocacy. “Business ownership no longer can be analyzed simply on the basis of the owner’s gender; businesses owned by women and men more and more share the same general development patterns,” write the authors of “Developments in Women-owned Business, 1997-2007.”
Between 1997 and 2007, the report found, women’s share of total U.S. firms increased from 26 percent to almost 29 percent; during the same time frame, men’s share dropped from 55 percent to 51 percent. As of 2007, the top four revenue-generating industries were identical for businesses owned by women, men, and by women and men together; they were construction, manufacturing, wholesale trade, and retail trade.
But there is still one area in which women-owned businesses differ from those owned by men: Women-owned firms were less likely to have employees. In 2007, more than 88 percent were non-employer firms.
Employment is on everyone’s minds right now, and a separate report from the Ewing Marion Kauffman Foundation, “Overcoming the Gender Gap: Women Entrepreneurs as Economic Drivers,” suggests that with the right kind of help, women-owned businesses could become drivers of employment and stimulate the economy.
The Kauffman report found some similar gaps between men- and women-owed companies. For starters, while startup companies, especially high-growth startups, are the biggest source of new U.S. jobs, only about 35 percent of startup business owners are women. In addition, their startups are less likely to grow than those owned by men: Just 36 percent of women-owned startups in the report had employees, compared to 44 percent of those owned by men.
Lesa Mitchell, Kauffman Foundation vice president and author of the report, says that while women are breaking through the glass ceiling, they seem to be encountering “glass walls” that keep their businesses from expanding. As a result, three years after startup, just 19.8 percent of women-owned businesses in the Kauffman report make over $100K annually, while 32.8 percent of men-owned companies do.
Of course, some women (and men) may prefer to keep their companies small. But for those who want to grow, what steps would help them? Mitchell says:
1.) Establishing support networks early in the startup process is one way to position your business for growth. Joining the board of a company in your industry is one way to do this.
2.) She also urges successful women entrepreneurs to become role models and mentors for younger ones.
3.) And she urges more networking and collaboration between startups and bigger, more successful firms.
Networking seems to be a common thread when it comes to helping women-owned businesses thrive. In Forbes’ latest list of the best cities for women in business, the cities that topped the list had several things in common: a supportive legal environment, government procurement goals for women- or minority-owned firms, resources like the SBA’s Women’s Business Centers, and the presence of women’s business organizations to provide networking and support.
Women are often called “naturals” at networking, and most women business owners I know are pretty good at it. But to power your business to the next phase, you need to take networking to the next level. Don’t just network within your comfort zone: Get out of it.
Depending on your business’s needs, that might mean hobnobbing with angel investors or even venture capitalists. It might mean getting comfortable at male-dominated industry events or conferences, or meeting key people at companies that are much bigger than yours. Whatever you’re hoping to achieve with your business, there is someone out there who can help you do it—but not if you don’t get out there and meet them.
Image from Christian Kieffer/Shutterstock
Women Owned Businesses Have Come a Long Way But It’s Not Far Enough
View full post on Small Business News, Tips, Advice – Small Business Trends
