Archive for the 'Tip of the Day' Category
June 22nd, 2009, 1:00 am by Jan Norman, small-business columnist
The Women’s Presidents Organization is starting a second chapter in Orange County and will host a new-members reception on 11:30 a.m. June 24 at Madison Street Partners, 8105 Irvine Center Drive, suite 1250 in Irvine.
 To qualify, women must own a service business with at least $1 million in annual revenues or a product business with $2 million in revenues. Average revenue of current WPO members is $13 million.
For more information, contact Debra Valle, chairwoman of Orange County II Chapter, 562-493-4801.
“During these economic times, members count on each other to help them with some of the toughest decisions they have faced in over a decade,” Valle said. “What they get from WPO is a trusted group of experienced entrepreneurs who offer their wisdom, resources and solutions in an upbeat and positive manner. WPO enhances competitiveness and accelerates growth, employment and economic impact.”
If you have a resource, tip or strategy to help small businesses, send it to me at jnorman@ocregister.com. If I use it, I’ll give you credit and link to your web site.
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Posted in: Events • Tip of the Day • Top posts • Women entrepreneurs • Women Presidents Organization | Post a Comment »
June 18th, 2009, 1:00 am by Jan Norman, small-business columnist
Winmark Business Solutions provides online tools and resources to help small businesses protect themselves against all  types of business fraud.
Among the articles:
- Five quick steps to protect a retail business from fraud
- Software tools that detect and deter fraud
- Defensive detection and documentation for the destruction of old records and safe retention of important documents
- Phony disbursements by employees
The site also provides information about starting a business, finance and marketing.
Winmark Business is a subsidiary of Winmark Corp., a franchisor of such brands as Play It Again Sports and Once Upon a Child.
If you have a resource, strategy or tip to help small businesses, send it to me at jnorman@ocregister.com. If I use it, I’ll give you credit and link to your web site.
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Posted in: Technology • Tip of the Day • Top posts • online business resources • Winmark Business Solutions | Post a Comment »
June 17th, 2009, 1:00 am by Jan Norman, small-business columnist
Union Bank has revamped its online resource center for women and minority business owners by providing an array of useful content to help these specialized  businesses.
Content includes:
- Financing for woman-, minority- and service-disabled veteran-owned businesses: Details options for obtaining loans, lines of credit, and other products to help entrepreneurs start and grow their business.
- Supplier diversity: Aims to increase the types of businesses from whom Union Bank buys products and services.
- Certification Center: Describes qualifications for Women’s Business Enterprise or Minority Business Enterprise certification and provides contacts to help business owners start the process.
- Resource Center - includes informational articles by Union Bank executives, a link to Union Bank’s quarterly newsletter, Small Business Focus, and a list of organizations and agencies that are helpful for new small businesses.
- Women/Diverse Associations: Provides extensive lists of the associations and organizations that cater specifically to women and diverse audiences.
- Frequently Asked Questions: Provides answers to several questions regarding financing and loans.
If you have a resource, tip or strategy to help small businesses, send it to me at jnorman@ocregister.com. If I use it, I’ll give you credit and link to your web site.
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Posted in: Finance • Run your business • Tip of the Day • Top posts • Women entrepreneurs • Union Bank | Post a Comment »
June 16th, 2009, 1:00 am by Jan Norman, small-business columnist
Referrals are one of the most cost effective and simple ways to gain new business, and yet many small business owners don’t get nearly as many as they should. Yodle.com, an online local advertiser, offers these tips and ideas about how to get referrals.
FOUR MYTHS ABOUT REFERRALS
1. Great customer service alone will make your clients refer people to you. Unfortunately, most people expect great customer service these days (and you always provide great service) so they are not necessarily inclined to mention good service to others.
In actuality, people are more likely to mention bad service to their friends than any good service they’ve had.
2. People who are close to you are great people to refer business to you. You would assume that this would be the case, and it certainly can be, but you must always educate those close to you on how to look for referral opportunities so that they refer the type of customers you want.
3. You should always ask for the referral at the end of a transaction with your client. You should constantly be asking for referrals!
There is no set time to ask for a referral. You should ask any time the opportunity presents itself.
4. Looking for referrals in an indirect manner reduces stress and is normally the best way to get referrals. Though this may work every once in a while, typically, if you don’t ask for it, you won’t get.
HOW TO ACTUALLY GET REFERRALS
1. ASK!
Don’t be afraid to be direct about asking for referrals. Also, ask regularly to maximize the amount of referrals you can generate. A great technique is to view every client you work with as though your sole purpose is to get a referral. This will not only keep you cognizant about getting them, but it will make you more service-oriented as well.
2. Create a referral program. Offer service credits as an incentive to your clients who send you new business.
It can be as a discount on their next service or a credit to their account, or any other trigger that will help entice people to refer new customers to you.
3. Spread the word. Send a description of your referral program to all of your satisfied clients. It also doesn’t hurt to send it to all past clients; it’s not only a great way to get referrals, but you can also rekindle old relationships.
4. Don’t ask for a referral when presenting a bill.
5. When asking for a referral, also ask for a testimonial from the client. It’s great for web sites.
6. Ask people who perform complementary services to you. For example, if you are a contractor, why not ask an electrician or plumber who may be on the same site?
7. Have some type of collateral material handy to provide clients with that describes everything you do.
If you have a strategy, resource or tip to help small businesses, send it to me at jnorman@ocregister.com. If I use it, I’ll give you credit and link to your web site.
Other small-business tips…
Posted in: Marketing • Tip of the Day • Top posts • business referrals • Yodle.com | Post a Comment »
June 15th, 2009, 1:00 am by Jan Norman, small-business columnist
The new I-9 form that must be used for all employees hired after April 2, is still causing confusion for some businesses, says Sunny Lee, a senior
 Sunny Lee consultant on the California Chamber’s Labor Law Helpline.
Lee provides some of the basics:
1. You are not required to have existing employees complete the new I-9 form if they have a complete I-9 form is on file.
2. You can’t accept an employee’s identity documents that are expired, but that applies only to new hires.
3. There’s no grace period for a job applicant who has applied for work authorization but has not yet received it. Under the old I-9 regulations, new hires were able to work by showing the employer a receipt that they had applied for an initial grant of work authorization. That receipt was then good for 90 days.
The new regulations, however, have done away with that provision, and the employee must check the box in Section 1 that he/she is already authorized to be employed.
4. A Spanish version of the I-9 form may be used only in Puerto Rico. In California, Spanish-speaking employees may be given the Spanish form as a translation guide, but the English form must be completed and retained as the I-9 record.
CLICK HERE to get a downloadable Handbook for Employers (effective April 3, 2009) from the U.S. Citizenship and Immigration Service. The guide now includes color pictures of the acceptable documents as well as useful information about I-9 requirements and commonly asked questions and answers.
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Posted in: Employees • Government rules • Tip of the Day • Top posts • I-9 forms • U.S. Citizenship and Immigration Service | Post a Comment »
June 12th, 2009, 1:00 am by Jan Norman, small-business columnist
Barry Diller’s IAC/InterActiveCorp. is an Internet company that is parent to 35+ innovative start-ups like Citysearch, Vimeo,  CollegeHumor, Urbanspoon.
These companies can provide a wealth of helpful advice for this year’s startups as America’s attention shifts to growing business organically—through start-ups as well as acquisitions.
A Backup Plan Won’t Bring Bad Luck:
 Kara Nortman “When you start a business, think about the ideal funding for the company, but have a back-up plan if you don’t get it or you only get a fraction of it. For example, if you plan to raise $5M to get your ideal project off the ground and properly marketed, you should also have a back-up plan as to how you would build a smaller, compelling first stage of the product, how you will market it virally, how you will convince people to work for nothing.”
– Kara Nortman, VP of Mergers & Acquisitions, IAC
Patience Weathers the Storm:
“Be patient. If you have a product or service that you believe in and it addresses a real need, it will be identified when the market turns around but make sure that you’re focused on genuine value creation. Now is not the time to create a start-up purely with the hope of flipping for quick profits.”
– Craig Smith, CEO of ServiceMagic
Make Your Job Boring:
 Josh Abramson “The best advice I received as an entrepreneur was that I needed make my job ‘boring’ by hiring people to take over all of my day-to-day tasks so that I could have more free time to think about the bigger picture. Had I just continued to try and do as much as possible by myself every day, it would have taken us much longer to grow the way we did.”
– Josh Abramson, President, CollegeHumor.com
Give Employees “Ownership”:
“Set the right culture from the beginning and make everyone feel like they have real ownership and like they are part of a mission. While everyone needs to pay the bills and dreams of the big payout, culture can go a long way towards motivating employees towards a cause during difficult times.”
– Kara Nortman, VP of Mergers & Acquisitions, IAC
Find Your Strength, Not Someone Else’s:
 Ricky Van Veen “Just because you started the company and you’re the boss, that doesn’t mean you’re a good manager. Likewise, just because you’re in charge of any other aspect of the company, this doesn’t mean you have the skill set for it. Be honest with yourself about what you’re good and bad at early on and save yourself a lot of hassle down the road.”
– Ricky Van Veen, Editor-in-Chief of CollegeHumor.com
If you have a resource, tip or strategy to help small businesses, send it to me at jnorman@ocregister.com. If I use it, I’ll give you credit and link to your web site.
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Posted in: Entrepreneurship • Startup • Tip of the Day • Top posts • CollegeHumor • IAC/InterActive Corp. • ServiceMagic | Post a Comment »
June 11th, 2009, 1:00 am by Jan Norman, small-business columnist
An updated edition of the workbook, How to Really Start Your Own Business, is available free from SCORE, a nonprofit national group of small-business counselors and The Company Corporation.
More than 500,000 copies of the first edition of the book have been distributed through SCORE’s 370 offices nationwide or downloaded from The Company Corporation web site.
Click here to download. The one drawback is that you have to give your contact information.
The workbook describes how to move from a business idea to a business plan. It includes simple exercises to think through planning, choosing a business structure, financing and start-up operations.
If you have a resource, tip or strategy to help small businesses, send it to me at jnorman@ocregister.com. If I use it, I’ll give you credit and link to your web site.
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Posted in: Startup • Tip of the Day • Top posts | Post a Comment »
June 10th, 2009, 1:00 am by Jan Norman, small-business columnist
GM made seven classic management mistakes synonymous with all struggling companies according to Gregg Landers and Peter Iannone, Southern California directors at the professional services firm of CBIZ MHM.
 Gregg Landers Here is their list:
1. FAILURE TO READ THE “TEA LEAVES.” Management often fails to develop a sense of their “leading indicators. Key market indicators such as trends in suppliers, customers, competitors or elsewhere provide insight into what lies ahead for your business.
In the case of GM there were signs for years that change was coming. For example Toyota was becoming a dominate player, increasing environmental awareness pushing for some sort of alternative energy solution or better targeted mix of smaller cars. Also, foreign automakers (and even Ford) have long been able to redesign their models in a quicker cycle than GM. The ability to redesign quickly and cost effectively can be critical when it comes to reacting to changing consumer demands.
2. FAILURE TO MANAGE CASH FLOW. GM has long had the high fixed costs of unions etc.
No easy answer existed to the problem but ultimately their failure to address those high fixed costs are what killed the cash flow in the sharp downturn. The old adage of “cash is king” is true no matter how big or small you are. Every business needs to develop a cash flow tool that is available in a timely fashion and meaningful to them.
3. LACK OF AND INABILITY TO COMMUNICATE CORE MISSION. Senior management must be able to effectively communicate to employees and key customers what actions they are taking, how it relates to their core mission and how it enhances their competitive and financial position.
They need to be able to clearly state how the hard actions taken today help all of the stakeholders (employees, customers, shareholders, debt holders etc.)
 Peter Iannone
4. OVERANALYSIS AND SLOWNESS TO ACT. Paralysis by analysis is a painful way to go. This happens when management pours excessive time into the analysis of the problem, rather than taking quick action toward fixing the problem or finding an alternative strategy to survive. GM clearly was stuck in paralysis and was unable to respond in a timely manner.
5. LACK OF A VIABLE PLAN B. Most well run businesses have a contingency plan: what do you do if sales suddenly drop for example. If GM had a contingency plan, other than government aid, it was hard to see by their actions.
6. PLAYING DEFENSE INSTEAD OF OFFENSE. You never win the game by only playing defense. GM knew trends were changing and they stayed clinging hard to their old lines and ways.
They were playing defense and trying to protect their turf. Every team needs to play defense from time to time, but while that’s happening they must be getting their offensive strategy in place so they can advance and hopefully win the next battle. GM failed to do this.
7. NOT PAYING ATTENTION TO COMPETITOR CHANGES. Toyota was on the rise for the past few years, clearly doing something right. Ford, the only survivor of the Big 3 auto makers to date, was clearly doing some things right toward managing their cash flow. Companies like Hyundai were offering to take the new car back if a customer lost their job.
These are all examples of things GM should have been paying more attention to (even if it meant backward engineering to catch up). Now, in hard times you are seeing companies like Fiat try to make moves, or the little known company in China looking to buy the Hummer line.
Anytime there are dramatic changes in the environment there are opportunities that arise; if you don’t pay attention you may wake up one day and find there is a new sheriff in town.
The bottom line is GM should have put more attention on what actions to take based on their changes.
If you have a strategy, resource or tip to help small businesses, send it to me at jnorman@ocregister.com. If I use it, I’ll give you credit and link to your web site.
Other small-business tips….
Posted in: Bankruptcy • How to • Meltdown • Run your business • Tip of the Day • Top posts • CBIZ MHM | 1 Comment »
June 9th, 2009, 1:00 am by Jan Norman, small-business columnist
Layoffs are a business reality in today’s recessionary economy, says Kristin Tillquist, author of Capitalizing on Kindness: Why 21st Century Professionals Need to be Nice. “Record layoffs around the country, the worst level since the Great Depression, are causing
 Kristin Tillquist stress, decreased productivity, lawsuits, and toxic workplace environments.”
But there are ways to preserve and bolster relationships and business prosperity in spite of this unfortunate economic necessity, she says.
“Kindness is the key to making layoffs more humane and less painful for everyone involved” Tillquist says. Simple methods greatly help the person being laid off, giving them the type of treatment that preserves their dignity – above all, treat them like they are simply retiring not like they are being fired.
But what about those remaining after a round of layoffs? othing is more disconcerting to those left behind than a suddenly-empty desk with no explanation from the bosses and no chance to say goodbye to their colleagues, she says. “The very health of your business is dependent on maintaining a positive – and hence more productive – work environment. So showing consideration during layoffs is not just kind; it’s a recessionary survival tool for your business.”
To help business owners and bosses deal with layoffs, Tillquist offers five tips for a kinder layoff:
- Say you are sorry for their loss.
- Thank them for their past service.
- Let them stay on for a few days after the layoff notice.
- Offer to help with their professional transition.
- Let their colleagues say a proper goodbye; a farewell luncheon?
If you have a strategy, tip or resource to help small businesses, send it to me at jnorman@ocregister.com. If I use it, I’ll give you credit and link to your web site.
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Posted in: Jobs • Tip of the Day • Top posts • Kristin Tillquist • layoffs | Post a Comment »
June 8th, 2009, 1:00 am by Jan Norman, small-business columnist
The Women’s Summit 2009 on June 18 will offer Orange County women business owners, networking, business matchmaking and educational workshops, according to Sallie Salinas, director of the Institute for Women Entrepreneurs, which hosts the event.
The summit will be from 7:30 a.m. to 5 p.m. at the Sheraton Park Hotel, 1855 S. Harbor Blvd in Anaheim.
Admission is $129 including the “Leaders of Distinction Luncheon.” Speakers will include Susan Solovic, CEO of SBTV and author of Girls’ Guide to Building a Million Dollar Business; Linda Hollander, author of Bags to Riches; and Michelle Steel, member of the California State Board of Equalization.
“Our goal is to empower women entrepreneurs to access the power within through highly motivational presenters and networking opportunities,” Salinas says.
The IWE is an economic development program of the Rancho Santiago Community College District and is a U.S. Small Business Administration-sponsored women’s business center.
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Posted in: Events • Tip of the Day • Top posts • Women entrepreneurs • Institute for Women Entrereneurs | Post a Comment »
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