SBA Gives You a Lifeline

June 15th, 2009

The program was announced last month and was given the name of ARC for American Recovery Capital loans. You can apply for this short term loan up to $35,000 to established small businesses with cash-flow problems.

Borrowers will have five years to repay, and the SBA will pick up the interest payments. Question you will be asked when applying for ARC can be found here and you can see if you’reeligibility. Contact your lender and they can help you determine if you’re a candidate for the ARC Loan.

Resources and tools that will streamline your business process:

June 11th, 2009

Web conferencing is all about making your business and your people more productive, saving time, money and resources so they can generate more sales and profits. In keeping with this spirit, here are some other resources to save your company time. 

Caveat: By mentioning these resources, we are not necessarily endorsing them or assuming any responsibility for how they deliver their services, or how well they work for you. Rather, we hope that these resources will be valuable, and that they will point you in the right direction, and stimulate new thinking. .

Have you visited Office Depot lately? Through a partnership with UPS, you can ship UPS right from the store. It may save you a special trip. Supposedly the rates are the same as UPS store.

Check out www.officedepot.com too. They really are trying to make things easy for business. You can order printing and copying services.  Don’t overlook the wonderful online Business Center resource that provides you with business form templates and advice for starting and running your business. Click on the first 2 sections on this page. http://www.officedepot.com/businesscenter.do  There are forms to protect your physical and employee assets, financial planning and valuation, marketing and business advice, taxes and much more. 

You can simply download the forms, and you’re ready to go. It’s a great starting point, if you want to customize them. The Small Business Handbook is invaluable for any business to have on hand. It covers everything you were afraid to ask, and more. It is a great starting point for raising issues.

Hiring Resources:

June 5th, 2009

How do you find good employees? Always a challenge. Most employers find that employee referrals are often the best source for qualified candidates. Some even offer a small employee incentive for referrals that are hired and stay with the firm for 3 months or more. This is great if you don’t have a full time human resources department or limited management time for interviews, or if you need special skills, really quick.

Here are some other avenues you can try. Your industry trade association may have an online job board or an email newsletter where you can post your job opening, for little or no cost. This ensures that you get the best qualified people, without having to sift through tons of irrelevant resumes. You may even be able to post the job listing anonymously.

Depending on the nature of the job, you may also find Craig’s List (www.craigslist.com) to be a great resource, especially for entry level jobs or to attract a younger workforce, or even for temp positions. Certainly you can also place a help wanted ad in your local newspaper or community weekly, for a small fee, which is usually much less than the major daily papers.

There are many online job boards, like www.monster.com, www.hotjobs.com, www.dice.com (for tech jobs), www.hirestrategy.comwww.asae.org and www.idealist.com (for association or non-profit jobs). There is usually a nominal fee for posting jobs to these websites. You can also add a careers or jobs section to your website. 

The trick about hiring is starting with the right job description. Be specific about the skills you are looking for. Don’t put all your wish list items in there. If you have budget constraints, put the salary in the ad. It will save a lot of guesswork and allow candidates to self select. You will negotiate salary based on skillsets.  

Quick Software Tricks that Help You Create Brochures, Business Cards and Even Barcodes.

May 27th, 2009

Chances are you haven’t explored the full breadth of your software capabilities.

Microsoft Word and desktop publishing software like Publisher, InDesign, and Pagemaker all have built-in templates for everything from business cards to brochures.

PowerPoint, a great tool for presentations and teleconferences, also has stored templates, and allows you to import design elements and backgrounds.

Microsoft provides free, fun downloadable templates for parties, dinners, and holiday themes at office.microsoft.com/en-us/templates/default.aspx

Here is a Microsoft link for a business plan template:

www.microsoft.com/mac/resources/templates.aspx?pid=templates

Here is a Microsoft link for great resumes:

office.microsoft.com/en-ca/templates/default.aspx

Another resource you can use is on Office Depot’s online Business Center.

http://www.officedepot.com/promo.do?file=/guides/papertemplates/papertemplates_od.jsp

There you will even find templates for balloons, bumper stickers, index dividers, media, post cards, tent cards, binders, greeting cards, tickets, and tri-fold brochures. These are a great place to start, allowing you to customize the design with your stored logo.

Avery labels (www.avery.com) also provides printable templates and downloadable easy-to-use Design Pro software.  You can access all sorts of clipart images. There is also a tool for curved text. There is easy photo editing software. And something that you rarely find without special software, the ability to serial numbering and create bar coding. There is also a feature that makes mail merge easy.

There is no time like the present to get started with these projects. Search online for templates before you begin. It will help guide you, ensure there are no key omissions, save you time, and ensure a professional looking piece.

Leveraging the “Green” Factor to Your Bottom-Line

May 25th, 2009

Going “green” is big business today. Not only is going “green” an environmentally responsible approach for businesses of all sizes to take and one that is the current rage, but going “green” can leverage profit dollars to your bottom-line too.  

First, what exactly do we mean by having your business go “green”? When we talk about “green”, we mean making a concerted effort to save our natural resources concerted action. Actions such as:

  • Saving on paper supplies – consider going digital for all of your internal office correspondence thereby saving on office supply costs and saving trees at the same time.
  • Lowing office energy consumption – lower your thermostat in the winter and raise it in the summer.  Consider using an electronic programmable thermostat to lower your energy consumption when people are not in your office in the evenings and weekends.
  • Recycling drink bottles – get your employees to sort their lunch trash and recycle bottles and cans. Encourage the use of environmentally friendly alternatives to Styrofoam cups.
  • Using recycled paper - whenever possible use recycled paper in your print marketing materials saving trees and forests.
  • Using biodegradable alternatives - replace plastic packaging and plastic shipping materials with new biodegradable “plastic-like” alternatives. Many of these new alternatives do not cost more and warrant your consideration.
  • Driving less – drive less by consolidating the trips that you do need to make in your car saving fuel, mileage expenses, and decreasing air pollution in your city.
  • Using mass transit or considering car pooling – save money, conserve our natural resources, and lower air pollution all at the same time.
  • Buying Energy Star products – when you need new appliances or heating and cooling systems purchase those with the Energy Star label for increased efficiency and lower energy consumption.  You’ll recover your initial investment and then start saving money in just a few years.
  • Stopping the Use Aerosols – use office and beauty products that are aerosol free. Consider letting your cleaning staff know to limit the use of aerosol based cleaning products in your office as well.
  • Limiting your travel by teleconferencing – not only will you minimize the pollution you would normally create in traveling but will make a significant savings on travel expenses improving your bottom-line significantly. 

What’s Your Vision?

April 26th, 2009

Global companies enjoy a far-reaching influence. They operate on several continents, in multiple markets, and to a multitude of different customer groups. These global brands have plentiful resources that can support their entry into numerous markets, and boast vast expertise and financial reserves to sustain the company through initial losses.

However, there is one more component of an effective global brand: leadership. It might be the most important component. Leadership with vision can turn a middling global company into a powerhouse.

Many very powerful global brands have legendary leaders; those leaders that frequently change up the status quo and push through barriers in order to get to the next level. In other words, those CEOs have vision.

Vision requires that CEOs lead effectively, represent the brand to everyone they influence, understand branding, and are able to nurture the company (and brand) in order to get the best results. Becoming this sort of CEO will not happen overnight, however, CEOs can get on the fast track by paying special attention to the vision or branding they develop for their company.

Over 70 percent of the market "capitalization" of companies on the Nasdaq "is contributed by the intangibles, of which brand equity is the important element." However, in order for companies to continue to utilize this "equity," branding or vision must become more mainstream and must be an activity practiced by all parts of a company. Branding must use internal corporate communications. What better use for a CEO’s vision than internal communication practices? A CEO that can communicate their vision and their ideas on branding should do so, not for the customer base, but for the employees. How else are they to understand what the company is attempting to do?

  1. A CEO’s vision of the brand (or the CEO’s ideas for brand) must be stated upfront. This is not something to be kept a secret.
  2. This vision and branding must have strong support not just from the CEO, but from all of corporate management. Everyone needs to be on the same team.
  3. The corporate strategies must align with the branding strategies and vision of the company. Or the branding will fail.
  4. Branding must be allowed to support "organization-wide cross-functional training, which nurtures the right mindset, skills and resources." Why else would you train employees except to further the brand?

Moreover, "when the CEO and the corporate management team actively involve themselves in and nurture branding, the above roles of branding can be effectively utilized. By being a strong brand evangelist, a CEO can define and defend the actions of a brand."

This is the CEO’s vision.  This is why companies go global and become larger than life. They benefit from a leader with a vision on how to go about developing the brand.

Do you have a vision? Now might be a great time to start thinking seriously about just what that is.

The Difference Between Leadership and Management

April 24th, 2009

The biggest mistake many business people make is to assume that, because they are the boss or the head of a department, they know what they need to in order to manage people effectively. This is just not true.  And although managers and leaders do require many of the same skill sets, the training required to be proficient at either leadership or management (or both) is quite different.

These basic skill sets are vital to managers:

  • Can this individual build rapport?
  • Can they set goals?
  • Can they give honest constructive feedback?
  • Can they make the tough decisions?

And this is just the tip of the iceberg of skills required of good managers. However, adding anything more to the list would be foolish unless it is customized to a particular industry or business.

How to do that? Sit down and brainstorm a list of tasks that are absolutely necessary to manage employees working for your particular company or industry.

After that, the most important step toward becoming a bona fide manager is to change your mindset, because even though you are a leader, this does not mean you are going to manage people well.

Thus ask yourself what management styles you’ve experienced in your work history. Which of those styles have you relied on the most to manage? Is it the best choice? If you want to know the best management style, why not do some research? Why not read some book about being a manager? See how these books mesh with your management style. There are multiple management styles out there, so make sure you take a look around before picking the one that you intend to follow. Some managers focus on an employee’s weakness, sure that their weakest point will be trained to be their strength, and some deal only with an employee’s strengths, sure that the greatest growth will come from there.

It’s a matter of perspective and more than likely, dependent on the industry in which your company does business. Specialized jobs require strong skill sets, which are then utilized most effectively. Less-specialized jobs can take an employee’s weakness and train it into their greatest strength.

At any rate, business owners who neglect quality management training for themselves or those they hire to manage employees do so at their peril. Management is an art, and in the past few decades, has become somewhat of a scientific endeavor. There are many best practice textbooks available and even more different management styles to choose from.

Talk It Up and Make It A Habit

April 22nd, 2009

AZBiz.com talks about the importance of consistent communication with your employees. 

"In the past few months, we have all seen drastic shifts in both our economy and the way we do business on a daily basis.

When change occurs, it’s natural for employees to feel unease and doubt. It is imperative that employers communicate with employees to address a multitude of questions and concerns. Among other benefits, ongoing communication helps establish and maintain a sense of connection and community among employees - a ‘we’re in it together’ mentality."

Lauri Huff, a communications specialist with Raytheon Missile Systems in Tucson, Arizona, presents a list of four ways to improve and standardize communications with employees.

1. The sooner the better

"Communicate in a timely manner. As soon as possible, the internal communications team should meet with business leaders to determine what messaging needs to go out, to whom and over what time period. The sooner the messaging begins the better. Each day that goes by the door is opened for increased unease among employees. It’s important to remember that messages in these situations don’t always have to be negative. There may be positive news to convey as well."

2. Just the facts

"State the facts without promising a solution. Messages from leadership should outline what is taking place, how outside actions may affect the business and the employees, and what the business is doing overall to counteract the events. This isn’t the time to get creative with messaging — just put forward the facts."

3. Tackle front-line issues

"In times of economic stress, employees will contact the Human Resources department to discuss concerns. Human Resources should be on the front line for hearing the employee "hot topics" and learning which topics need to be addressed in messaging. In an economic crisis, employee fears can center on losing a house, job, or healthcare and other benefits. To ensure that all employee concerns are addressed, human resources representatives should be involved with message planning from the start."

4. Resources-a-plenty

"Tap into existing resources. Many businesses provide employees with a variety of resources to assist in stressful times. If on-site services aren’t available, you should promote outside assistance. Assistance can include stress management, creating work–life balance, how to plan for retirement, and treating co-workers with respect in times of stress. Placing employees in control of their physical and mental health will empower them to make choices that can alleviate their concerns.

Be consistent and diverse with your communication methods. Whether you use a mass e-mail or traditional mail, digital signage, or a flyer or a poster, messages should be updated as necessary."

Consistent communication is the cure for skeptical employees and an ever-shifting business environment. When businesses are communicating effectively, their chances at surviving and thriving in the current economic recession improve drastically.

The Emergence of the Web in Business Communications

March 11th, 2009

As radio advertising takes a nosedive, businesses are still looking askance at the Web. Can it really become an advertising channel replacement? Do consumers really look to the Web to find products and services?

To those questions, I say yes, and here’s how:

1. Your web site is the new brochure or catalog. Rather than ordering a catalog via an 800 number, or requesting an information kit from operators standing by, consumers are going to the Web to browse Internet product listings and reading information kits online. Is your web site just a placeholder? Do you provide all the information to your Web audience as you do your radio or television audience? If folks didn’t make it to the trade show, can they download the same print materials from your web site? Why not?

2. Your web site tells your customer why you’re the solution for their problem. Can you give away a report or white paper that showcases your strengths in the exact problem area your clients are experiencing? That goes much farther than a radio ad asking folks to call your toll-free number.

3. You offer new information from your web site each month that helps your clients make important decisions. This can be in the form of a newsletter, a blog, even Twitter. When consumers realize that you’re more interested in providing them with quality information rather than making a quick sale, they’ll sign up to your mailing list. (These are your clients! They will buy stuff from you!)

4. You develop products and services that you’ve developed from listening closely to your client. A web site isn’t a place to just talk about what you think is interesting. For a business interested in developing quality life-long clients, your site should be interactive. Can your clients request information from you? Can they contact you with problems? Do you listen and then respond in kind?

5. A web site works all the time. Unlike a radio ad that you must pay to run 24-7, a web site is up and for a monthly hosting fee, is available to clients whenever they need it. It’s not as expensive as television advertising, and if you’re working hard to stay relevant by producing information your clients can use, a web site can actually bring in more clients than traditional print, television, and radio ads combined.

As the Web continues to grow, and as social media continues to expand at such a fast-paced rate, the opportunities for communicating your business message online will only increase.

FAIL: What To Do When Communications Don’t Work

March 9th, 2009

We’ve all been there. A memo gone awry and people’s feelings are hurt. A three-hour meeting in which nothing is accomplished and the time is wasted. A seminar that doesn’t make sense to your employees or managers and confuses them more than anything. It happens.  What are you going to do about it?

First, don’t panic.

Remember that communication is a time-honored tradition among our species. We all have our issues with it. If it was you that caused the communication breakdown, try to find out what didn’t work. Was it the delivery? The presentation? The timing? The food? If it was the audience that didn’t respond well, was the information presented in a way that was confusing? Did it apply to them? Did they already know what you were talking about?

Second, interact, rather than shut down.

Talking to the party affected is the best approach. Be respectful and polite. Ask questions that require them to give you specifics. “How could I have improved that speech?” “What part of my memo was offensive?” “Is there any way I can improve how I communicate with your team?” Once you find out the answers, do something with them. Don’t just file them away and forget about it.

Third, figure out action steps on the feedback and implement it immediately.

If you need to make amends, that comes first. If you have problems looking people in the eye in one-on-one meetings, work on it. If you mumble when you give instructions, don’t do it anymore. If you’re writing is riddled with malapropisms and rhetoric, rewrite it. The best way to rectify a bad communication scenario is to take steps so that it is never repeated and to let the other party know you are doing so.

Fourth, try and try again.

Communication doesn’t happen on one try. You have to try and try again and again. It’s an ongoing process and doesn’t just go away because you want it to. Continually working on your communication processes will help you to become a better communicator, believe it or not. Not doing anything will help you become a better bad communicator. It’s true.

Most business owners find that communication success is not static in their offices. It’s a continual process that moves and turns with a rapid pace. Accepting that is a good solid first step. Then, you can move on to making sure that every time you write or speak, people understand you. It’s an honorable goal.