Posted on May 14, 2012 by Mary Kay
Posted in Compliance, eCommerce, Employee Benefits, Funding & Finance, Legal, Payment Processing, Payroll, Planning, Sales & Marketing, Technology, Workforce
Hear, hear! National Small Business Week is almost here! We’re looking forward to honoring and empowering small businesses nationwide as part of the Small Business Administration’s (SBA) weeklong celebration in Washington, D.C.
Those of you who can’t make it to the District can still access all the information, sessions, and takeaways from the conference via streaming session webcasts, courtesy of SBA. So whether you’re at National Small Business Week in person or you’re there in entrepreneurial spirit, make sure to tune in all week for lots of great business information!
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Posted on May 8, 2012 by Mary Kay
Posted in Leadership, Technology, Workforce
Entrepreneurs and small businesses make a powerful impact every day across the U.S. Whether it’s in its community, in the economy, with philanthropy, or through innovation, it’s clear that “small business is anything but ‘small,’” as the Huffington Post notes.
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Posted on May 1, 2012 by Mary Kay
Posted in Leadership
What type of person comes to mind when you think of an entrepreneur? Bill Gates in a garage in California, a rebellious Steve Jobs in the 1970s, or Mark Zuckerberg starting the company whose website you may very well have open right now? While it’s very easy to equate entrepreneurship with a certain energetic youth, they are not always mutually exclusive.
Recent data squashes the stereotype of an older workforce set in its ways and showing little interest in emerging technologies or ideas. They are, in fact, the ones starting businesses right alongside younger self-starters. Take for instance that in 2003, the 65+ demographic had a self-employment rate of 26.9 percent, compared to just 7.2 percent among the 25-34 year-old folks. And every year from 1996 to 2007, entrepreneurial activity was one-third larger for Americans between the ages of 55 and 64 than those aged 20-34, according to a study from the Kauffman Foundation.
Older entrepreneurs have the advantages of deep industry knowledge and experience, plus years of building professional networks that give them an edge over their younger counterparts. Because of these trends, the U.S. very well could be “on a cusp of an entrepreneurship boom – not in spite of an aging population, but because of it.”
Posted on April 23, 2012 by Mary Kay
Posted in Funding & Finance
Two business owners in our neck of the woods have found an innovative way to find business funding, even in a tough economy and a risky field of business. Instead of focusing on investors and banks, they put their sights on beer brewing giant Samuel Adams.
Chris Spinelli and Jon Mervine, founders of ROC Brewery Co. in Rochester, NY, looked into Samuel Adams® Brewing the American Dream, a philanthropic program that assists small-business owners in the food and beverage industry. Not only did the program grant them a three-year microloan, but it also continually provides them with mentorship and direct access to seasoned professionals in the brewing business. Read more about their story here.
Posted on April 17, 2012 by Mary Kay
Posted in Funding & Finance
Facebook’s hefty $1 billion acquisition of photo-sharing platform Instagram has inspired droves of entrepreneurs to reach out to investors in the hopes that they will become the next big-ticket startup. But with visions of Tumblr and Foursquare dancing in their heads, many small-business hopefuls haven’t put much thought into their revenue model, and thus lose appeal to potential backers, according to TK Kruegler of Wasabi Ventures. His advice: “Remember, you’re in this to make money. If your startup isn’t focused on how to make money, you’re not doing it right.” Some other tips as you prepare to pitch investors or seek alternative funding resources include:
Have another means of income (for the time being). It’s common for businesses to not see cash come in for a few years. In the meantime, have financial resources that are independent of your business venture, and learn more about when to expect a profit.
Stay humble. There is and always will be an entrepreneur out there who’s smarter, more business-savvy, and more driven than you. Don’t let it deter your business goals. Instead, let it motivate you to do better.
Be passionate. Building up a business can take time, but also be discouraging at certain points. Stay mindful of why you started your business in the first place.
Get more information on all things funding and finance here.
