Small Business News: Small Biz Strategy

What’s your small business strategy…you’ve got one, right? It’s the difference between success and failure and should be one of the first decisions you make about your business. Creating a strategy encompasses how your business markets, delivers services, manages costs, uses tools and, in general, tells its story. If this sounds like a pretty big deal, it is! Check out the links below covering the many aspects of small business strategy. And then tell us…what’s your small business strategy?

Planning

How to engage with your customers. Whether you’re talking about customers who enter your bricks and mortar establishment or visitors that frequent your Website, engagement is the key. In this post, we look at how this happens in the new social media environment, including a big infographic with more insight about how to drive and engage customers with your brand. MyBeakSocialMedia

What Bob Seeger can teach you about business strategy. Making your message both easy to understand and compelling may be the biggest challenge your small business faces. As the Bob Seeger song says“What to leave in, what to leave out.” What are you leaving in and what are you leaving out in your small business message? Are they the right things? What do they mean to your business strategy long term? Duct Tape Marketing

Do you have what it takes? To engage in the kind of strategy that will make your small business a success, you’ll have to have the right stuff. Don’t worry! No one is necessarily born with all these skills, but this article looks at some real weaknesses that could put your success at risk.Open Forum

Self-development

5 strategies to improve productivity. Planning for your successful small business doesn’t just involve long term strategy about how to grow and position your company, but also short term strategies about managing your own productivity. Are you happy with the amount of work you get done each day? Do you allocate the right amount of time for every aspect of your business? If not, here are some steps to improve today. Today’s Admin

Case Studies

Why you need social media: The Naked Pizza story. Does your small to medium sized businessreallyneed social media as part of your marketing strategy? It does if you plan to have a meaningful conversation with your customers about your brand and what you stand for. In a world of infinite choices, no matter what you’re selling, your message had better be something more. And your strategy had better involve telling someone about it. BizSugar

Spotting and exploiting small business trends. An important part of your business’s ongoing strategy must be to remain on the lookout for trends that benefit your business brand. When the British press earlier this month reported the official wedding cake for Friday’s royal wedding to be“a floral-themed fruitcake with cream and white icing frosting” U.S. fruitcake makers saw a surge in business. What trends are you missing and how could you market your business better when fate smiles upon you?WSJ

Marketing

How to find a brand ambassador. One of the best strategies for building your business or your brand can be to find a brand ambassador who will share what you do with their network and generate buzz without you having to lift a finger. One of the best reservoirs for such ambassadors can be your employees, but finding the right employees to fulfill this role can be more complicated than it looks. Inc.com

Financial

Controlling your legal costs. Not all strategy is marketing, and a cost containment strategy is equally important if you want your small business to succeed, especially in those lean early years. While many of your costs can be easily figured out in advance, legal costs can sometimes be a challenge. Mike Periu offers this explanation for the problem and a strategy for correcting it.Open Forum

Sales

What’s your e-mail marketing strategy. E-mail marketing can be a very effective way of connecting with customers and eventually generating interest and sales if done correctly. But without a strategy, your best intention for creating an effective e-mail marketing campaign may not be enough. Consider this list of important tips to include in any e-mail marketing campaign.Capture Commerce

What is your sales strategy…really? Blogger Gary S. Hart explains this should NOT be the same old“better features, greater performance, more revenue, bigger cost reductions, higher ROIs” crap everyone has been trying to cram down customers’ throats for years. Because a true sales strategy for your small business, Hart writes, must be so much more. Here are some tips to get you started.  Sales du Jour

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65 Small Business Mobile Applications You Must Check Out

The response to my article 101 Small Business Web Applications You Must Check Outwas overwhelmingly positive! Thank you for all the awesome suggestions and comments.

I decided to write this second article based on all the additional recommendations I received, with the emphasis on mobile applications focused on helping small businesses. Some of these mobile applications are completely free and some of them are freemium (free for basic version, then you pay for an upgraded version).  Which mobile apps do you love? What other apps are the real deal that we might have missed?  Send us your comments and suggestions!

Here is the list of categories we will cover in this article:

• Sales Management
• Human Resources
• Communications
• Networking
• Web and Social Media
• Mobile Payment
• Productivity
• Information Technology
• Legal
• Presentation
• File Management
• Finance

P.S. You will meet some of these awesome mobile companies atBizTech {Mobile}on May 12, 2011!

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Sales Management

Roambi:Thisallows users to get the latest business intelligence on their phones. Users can import data from an Excel spreadsheet to Salesforce or SAP. Cost: FREE to $99/user/year

Salesforce:Salesforce allows users to view and edit sales information, log sales and service activities, and receive new leads and customer requests. Cost: FREE

Kinito:This allows users to create, read and update sales accounts, contacts, leads, and opportunities. Cost: FREE

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Human Resources

OmniFocus:Allows users to track tasks by project, place, person or date. Cost: $19.99/user/year

Daylite Touch:Allows users to combines tasks, calendars, projects, opportunities, and contacts for the team. Cost: FREE

iTimesheet:Allows users to keep track of time spent on projects, clients, and billings. Users can also back up timesheet data to an FTP server, or export to Excel format. Cost: $5.99/user/year

HoursTracker– Time Sheet:This allows users to track time spent on projects and view earnings, including different rates for different tasks. Cost: $2.99/user/year

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Communication

Skype:Skype allows user to make and receive free Skype-to-Skype calls and converse via instant messaging. Cost: FREE

Google Translate:This allows user to translate words and phrases in more than 50 languages. Cost: FREE

Fuze Meeting:Allows user participate in online meetings and see real-time screen sharing while talking on the phone. Cost: FREE

Voice Broadcast:Allows users to record audio content to send to multiple users immediately or at a future time. Great for keeping colleagues and team members up to date with quick voice messages. Cost: FREE

Yammer:  Yammer allows user to share ideas, get answers and stay connected with colleagues through multiple communication feeds in your company. Cost: FREE

WhatsApp:This allows users to to exchange messages without having to pay for SMS. Cost:$0.99/user

HeyTell:Allows users to leave voicemail with friends and coworkers. Cost:FREE

Word Lens:  Word Lens allows users to instantly translate Spanish to English using a camera phone. Cost: FREE to $9.99/user

PGI Mobile:Allows users to host and record audio conferences using mobile phone. Users can see who’s talking, lock calls, and adjust or mute audio. Cost: FREE

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Networking

WorldCard Mobile:Allows users to scan business cards and export to iPhone or Outlook contacts. Cost: $5.99

Card Munch:Allows users to take a photo and submit your business card. Each business card will be transcribed, edited and reviewed by virtual workers to guarantee accuracy. Cost: FREE

Bump:Allows users to use their phone to bump another phone. If both people confirm that the match is indeed correct, contact information will be exchanged between phones. Cost: FREE

Hashable:  Hashable allows users to track their business relationships; record meetings, calls and intros; and exchange business cards. Cost:FREE

Linkedin:  Allows users to access their Linkedin professional network and contacts on their phones. Cost:FREE

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Web and Social Media

Analytics Apps:Allows users to view and build reports based on Google Analytics data. Cost: $6.99/user

Twitter:  Allows users to get instant updates from friends and industry experts and tweet from multiple accounts. Cost: FREE

Facebook:Facebook allows users to update status, browse News Feed and view friends’ Profiles from their phones. Cost: FREE

GoDaddy:  Search and buy domains.Cost:FREE

Domainr:  Search and buy domains. Cost: FREE

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Mobile Payment

iSwipe:Allows users to process major credit cards payment on a mobile phone. Cost: FREE

Square:  Allows users to collect credit card payments by plugging a reader into a phone or iPad. Cost: 2.75 percent per transaction

Cimbal:  Allows users to pay using a smartphone in the store, online and person-to-person anywhere Cimbal is accepted. Cost: Free between individuals

Venmo:Allows users to pay with iPhone, Android or Blackberry. Cost: FREE

Paypal:Allows users to pay and manage Paypal account using iPhone, Android or Blackberry. Cost: FREE

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Productivity

Whiteboard Capture:  Allows users to filter pictures of whiteboards to remove undesirable artifacts and get a near-perfect digital image. Cost: $1.99/user

Evernote:  Allows users to save ideas and notes in text, voice and photos and access from any device. Cost:$FREE to $5/user/month

Mindjet:  Allows users to capture and share ideas on the go, and transfer mind maps to and from Mac or PC. Cost: $7.99/user

iShare:  Allows users to connect to Microsoft SharePoint Server, giving them access to their corporate documents, tasks and meetings from anywhere. Cost: FREE

Awesome Note:Allows users to organize notes and to-do lists in folders, create custom lists and schedules, attach photos, and sync with Google Docs or Evernote. Cost: $3.99

SmartTime Pro:  Allows users to manage appointments, and fit additional tasks around them. Cost: $4.99

Things:  Allows users to manage to-dos, notes, due dates and projects. User can also schedule tasks and manage priorities using custom tags. Cost: $9.99

Bento:  Allows users to manage personal or business data by organizing information using templates for contacts, projects, to-do items and customer information. Cost: $4.99

Convert ~ The Unit Calculator:  Allows users to convert and calculate units. Cost: $2.99

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Information Technology

Jump Desktop:Allows users to remotely access Mac or PC systems. Remote applications can be controlled with simple gestures to zoom, pan, click, scroll and type with ease. Cost: $19.99/user

FTP On The Go:Allows users to view, edit and download files from an FTP server. Cost: $6.99/user

Wyse PocketCloud Pro:Allows users to access their terminal, server or supported PC virtually. Users can view and manage Windows desktop remotely. Cost: $14.99/user

Network Utility Pro:Allows users to check performance and status of the corporate servers using network tools including ping and TCP/IP port scans. Cost: $0.99/user

1Password:  Allows users to securely store important passwords and information. Cost: $9.99/user

Tap Forms Database:Allows users to create and edit built-in or custom database forms on the go. Cost: $6.99/user

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Legal

Patent Finder:  Allows users to search the entire U.S. Patent and Trademark Office (USPTO) database for issued patents and patent applications, and email saved PDFs of search results. Cost: $4.99/user

Right Signature:  Allows users to sign contracts, proposals and NDAs from the phone. Cost: FREE

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Presentation

Keynote Remote:  Allows users to control your Keynote (Apple) slide presentation on your Mac from your iPod touch or iPhone. Cost: $0.99/user

Keypoint:Allows users to build, play, share and export presentations on a mobile phone. Cost: $1.99/user

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File Sharing and Management

PDF Reader Pro:  Allows users to create and access high-quality PDFs and other files on a mobile phone. Cost: $0.99/user

Box.net:Allows users to access files from anywhere and securely share content. Cost: FREE

Mobile Phax:  Allows users to use mobile camera to capture and clean up documents, convert them to multipage PDFs, and email them to others. Cost: $4.99/user

Dropbox:Allows users to sync files between computers and upload photos from a mobile phone. Cost: FREE

FileMagnet:Allows users to transfer files from a desktop computer to mobile. Cost: FREE

Quickoffice® Mobile Office Suite:  Allows user to access and edit MS Word documents, Excel spreadsheets and other files for access to remote or local files. Cost:$9.99/user

Documents To Go:Allows user to create and edit business documents; modify, create, or view Microsoft Word docs, Excel spreadsheets, and PowerPoint presentations; and access PDF, iWork, RTF and Google documents and graphics files. Cost:$9.99/user

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Financial Management

InerTrak:  Allows users to manage time spent on projects, hourly rates, and billed/unbilled time and money. Good for contract workers or anyone who works on multiple projects on a hourly basis. Cost:$4.99/user

Minibooks:  Allows users to manage client records, record time against projects, generate invoices and track payments. Cost:$14.99/user

Timewerks:  Allows users to keep track of billable hours and materials spent on projects, create reports and send invoices. Cost:FREE to $9.99/user

Omni Invoice:  Allows users to create sales quotes and customer invoices from anywhere and email them directly to customers. Cost:$4.99

iXpenseIt:  Allows users to record and track business and personal expenses, and create expense reports and summaries that include photos of receipts.  Cost:$4.99/user

Mobile Receipt:  Allows users to take high-quality photos of receipts; automatically adjust for character recognition; and create and email formatted PDF, RTF, or text expense reports. Cost:FREE

Currency:  Allows users to get the latest exchange rate information for over 90 currencies and 100 countries. Cost:$4.99/user

Currency Exchange– Currency Converter:  Allows users to convert dozens of international currencies using the latest exchange rates. Cost:$0.99/user

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Small Business News: Online Marketing Mindset

Many small businesses are on the Web these days, which means, out of necessity, that online marketing must be part of the small business owner’s strategy. Though certainly no small business owners should be under the illusion that simply throwing up a Website is sufficient to launch their business on the Web, few may have fully considered what marketing online really entails. Do you have a blog, a social media presence on Facebook and Twitter, a YouTube or other video channel, etc.? You get the idea! Do you know what you’re up against? Here’s just a sample of the things you need to consider on your way to an online marketing mindset.

Overview

Commenting is great, but don’t overdo it. Paul Wolfe looks at the comment, the basic weapon in the social media arsenal of all online marketers and asks, have we gone too far? Commenting can be a great part of your marketing strategy, but what happens if it degenerates into a“comment love-in?” Want to know how to avoid this social media marketing trap? Read on. One Spoon at a Time

Finding your online niche. Online marketing gurus are quick to layout a road map for Internet marketing success. But the truth of the matter is that online marketing, like every other aspect of your business model, must be developed over time. There are no shortcuts, no simple solutions, and no one-size-fits-all strategies. Developing your unique online marketing strategy is the first step to success. Bloomberg BusinessWeek

Why Google remains key to online marketing. You may have heard plenty about the new social media revolution, but make no mistake. If your business model still depends on organic online search marketing in any way to bring customers to your Website, then your fate remains in the hands of Google. Online entrepreneurs can complain about the shadow cast by the world’s most used search engine, but ignore factoring Google into your business model at your own risk.WSJ

Strategy

A whole new way of marketing. What Seth explains in this post (though he doesn’t mention online marketing at all except when referencing Google) is that this new approach of reaching your customers over the Internet is about more than just tools. It’s also about changing your outlook. Worried about drawing millions to your site? Don’t be. Think micro markets instead of the masses, and you’ll start to get an idea of where these things are going. Seth Godin’s Blog

Tricks for getting your Website found. Of course, drawing attention to your business Website, presumably the place where your products or services are available, is among the most important things you can do as an online entrepreneur. The solution to getting your small business site found by potential customers is Search Engine Optimization, the process of getting more traffic to your Website via search engines and it’s more involved than you think. Bloomberg BusinessWeek

Trends

The future of online video marketing is here. Actually, it’s been here for some time, arguably, with YouTube and other video sharing sites making it easy to share marketing messages about your business with the world. Now Google, which owns YouTube, plans to take things a bit further with an effort to broker video advertising on the site. Let’s see what happens.WSJ

PR and marketing pros now prefer social media. A recent poll suggests activity heating up among PR and marketing professionals on Twitter with many anticipating increased activity on Facebook in the near future. As you plot your online marketing strategy, be sure to consider both of these platforms as a great place to spread your brand’s message or better yet have others spread it for you. Check out the free Webinar at this link for more.BizReport

News

Travel and tourism industry leverage online marketing. The reason for the move of the travel and tourism industry into online marketing provides perhaps the best reason for small businesses to be there as well. As Kasem Thianthongdee, managing director of Metropoint Bangkok, explains, potential customers are looking for travel and tourism choices online, so that’s where marketers for the tourism industry must be as well. Where are your customers today?The Nation

Even politicians market themselves online. This article from a local Massachusetts news source shows how online marketing has moved beyond big brands and national political races to grassroots local campaigns. If local politicians can use online marketing to bring their message to a local audience (or a national audience) why can’t you do the same for your business?TheDailyGrafton.com

Resources

Online marketing workshops give aid. If all of this is a bit too overwhelming, workshops all around the world are springing up to help you get your business online and to help you learn the online marketing techniques that can lead to success. Here is one such workshop coming up in Bundaberg, Australia. Look for an opportunity near you to help get your business marketing online.NewsMail

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5 Reasons to Add Video To Your SMB Blog

Last week we let you know it was official–social media boosts exposure and traffic for SMBs. We even talked about how small businesses see a bigger return from social media than their larger counterparts. Huzzah! With that in mind, it’s time to look at how small business owners can use social media channels to their full potential.

And one of the best places to start is by looking at your SMB blog and finding new ways to capture attention.

As a small business owner, one of the most effective ways to get involved in social media is to start a blog. Through blogging you’re able to establish yourself as an industry authority, you build a community, increase your exposure, and you give the search engines a reason to visit your site regularly. You’ve probably been using your blog this way for some time now. And that’s great! But it’s time to up the ante. How do you do that? By adding video to your blog and creating a new way to interact with users and show off your brand.

Below are 5 reasons why you should add video to your small business blog. You don’t have to be scared.

1. A different way to express yourself: Ever take a step back and look at your blog only to feel like it doesn’t “sound” like you? You know that when you talk about your business and your industry in person, you’re full of excitement, your hands flail and you’re overwhelmingly passionate about it. But, for some reason, you’re having a hard time translating that into print. If that’s the case,this is a perfect opportunity to connect with customers directly by using video and allowing yourself to simply talk to your audience. Grab a Flip camera, turn it on, and be you. Talk about the things you love about your company, what you think needs to be changed in your industry, where you thinkthings are going, etc. When you “just talk” you’re able to connect with people on a different level.

2. You create a more personal community: Not only does video change the way you express yourself, it also changes how your audience responds to you. When someone can hear your words and look into your eyes while you’re speaking, it creates a much more personal connection than simply publishing words on a page. Strategically using video to talk about sensitive industry topics or to explain your stance on a controversial issue can really help you win over your audience and let them see where you’re coming from. As a SMB, if you’re looking to create a highly personal connection with your audience, try throwing in some video and letting them see you every once in a while.

3. Another way to respond to customer issues: One of the most successful ways to use videos is to create product tutorials or use it to address customer hiccups. Sure, you could write a blog post about how to attach a basket to your child’s bicycle and it would probably be helpful, but it would be even more helpful if you included a video. A video that showed each step and let people know what it was supposed to “look like” as they were going through the process. As Prasad Thammineni noted in his post oncreating winning small business videohe noted that customers want to know how a product or service works before purchasing it. Using video is the perfect way to show them and to help them feel more comfortable.

4. You create another rankable asset: When we talk about getting involved in social media, one of the goals is always increased exposure– both from the user-side and the search engine-side. The more quality “stuff” you give Google to rank, the more likely it is that a potential customer will find you when they do a search related to your business. And this is where creating videos for your blog (or Web site) can really separate you from the pack. By hosting your videos on YouTube, on Vimeo and on other online video sites, you give yourself more rankable assets and increase the odds that you’ll show up for important keyword-related searches. Google knows that users love video and we’re starting to see it appear more and more in the results pages. As a SMB, the fact is you can’t always compete on a page-level with Fortune 100 companies who are given extra authority simply for being a large brand. However, by using video and appearing in the universal results, you can find new ways to outrank them by claiming your territory in video, images, news, etc. When you can’t get in the front door, try the window.

5. You get used to speaking on camera: You probably don’t have hopes of a mainstream film career, but you still want to show people you can be comfortable on camera and in front of an audience. Why? Because when a local reporter or someone in your industry wants to talk to someone for a news story, you want that person to be you. And by showing them you have a history of delivering (and not freezing up on camera), you increase the odds that the person they’ll want to talk to is you!

Those are some of the big benefits to adding video to your small business blog. And don’t forget! If you are going to use video (and you should), you’ll also want tocreate transcripts for your videosto help the search engines understand what you’re talking about.

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Social Media Boosts Exposure& Traffic for SMBs

Want some good news for your Wednesday? How’s this: If you’re a small business owner who is investing time in social media, chances are you’re beating out your medium- and large-sized counterparts in benefits. How’s that feel? Pretty good, right? And that was just one of the statistics that came out of the2011 Social Media Marketing Industry Reportput together by Michael Stelzner of Social Media Examiner.

Michael’s report polled 3,342 business owners and analyzed their experiences with social media. What he found was that SMBs using social for local marketing saw significant boosts in exposure, traffic and sales. Not bad.

More than 90 percent of marketers surveyed responded they view social media as being important to their business, with the self-employed set finding it even more useful. Sixty-seven percent of self-employed marketers, and 66 percent of SMBs with 2 or more employees, were more likely to“strongly agree” with that statement.

What are marketers getting from social media? The leading benefit of social media for small business is increased brand awareness, as cited by 88 percent of marketers. Other benefits cited were:

• Increase Traffic– 72 percent
• Improved Search Rankings– 62 percent
• New Partnerships– 59 percent
• Better Sales– 48 percent
• Reduction in Marketing Costs– 59 percent for self-employed, 58 percent for SMBs
• Twice as likely to find qualified leads

Or, in other words, social media is taking what used to be a fractured set of the population and connecting them to the people who can help their business. When you take an entrepreneur who previously worked in isolation out of his basement selling vinyl records and introduce him to the world of social media, suddenly his business is more search-friendly, more profitable and better connected because he’s no longer cut off from resources. Through social media and tools like Twitter, Facebook and blogging he’s able to reach out and build awareness like never before. The result of that, as this data set captures, is pretty major.

But to benefit from social media, you need to spend time there. Unequivocally, the numbers showed that the business that invests more time in social media sees more results. These relationships take time to work up, which translates to investing many hours per week, over a long stretch of time, to see social media’s true benefit. For example, the survey found that 52 percent of marketers who spent 6 hours a week engaging in social media saw lead generation benefits and that 45 percent of marketers who have been in social media for 12 months or less created new partnerships as a result of their interactions. If you’re looking to justify your social media time, those seem like pretty good numbers to know.

If you have any questions as to whether or not social media can“work” for your business and what your participation needs to look like to achieve different goals, I’d recommend you check out Michael’s2011 Social Media Marketing Industry Reportsurvey because it really does house a lot of really interesting statistics that I haven’t seen published elsewhere.

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5 Ways to Repurpose Content for Social Media

A picture may be worth a thousand words, but an article can be worth even more, if you know what to do with it. Content is the hottest marketing tool right now, but there are some secrets about how to use it that many marketers don’t want you to know.

1. Start With an Article

There are many ways to use a single article, but your blog is the best place to start.  The more content you put out, the more search engines like you, and the more reason people have to keep coming back to your blog. Aim to write 300- to 600-word posts as often as you can, but no less than three days a week.

2. Repurpose It for Article Marketing

Now take one blog post and re-write it for article distribution websites likeeZineArticles.  Make sure you choose reputable article distribution sites. The benefit of having your content on the higher-ranking article distribution sites is that people who don’t already know about your blog may find you when searching for a topic, as these sites rank high for results. For example, if yousearch for “updating your investment property,” one of the first search results is from eZineArticles. That could be your article.

The key in repurposing content for different sites is to make changes— perhaps come at it from a different angle. You might lengthen it (some sites require a minimum of 1,000 words, so you’ll have to make it longer for these sites).

With each article you publish on article sites, be sure to include an author bio with a link back to your site so people can learn more about your business.

3. Convert It to Video

Another way to get extra mileage out of a single piece of content is to turn it into a vlog (video blog). Simply talk about the topic you wrote about and enhance it in a brief video. Upload toYouTubeandVimeoand you’ll get even more traffic.

4. Perfect the Presentation

Even converting your content into a brief slide presentation and uploading toDocstocandSlideSharecan put you in front of new potential customers. If the content is valuable enough, you can even charge people to access it.

5. Share Socially

Now you can use Facebook and Twitter to share your content, wherever it lands. Post your blog’s RSS feed to both your company’s Facebook Page and your Twitter stream. But also create conversations around the content. If you’ve written an article on common mistakes businesses make, tweet the question “What’s the biggest mistake your business has made?” with a link to the post. You’ll not only get eyeballs, you’ll get engagement.

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Helping Women Entrepreneurs Get Angel Capital

The relative difficulty that women entrepreneurs have in finding financing for their businesses has long been a topic of concern. Now a new project is aiming to improve women’s access to capital by mentoring and training women to become angel investors and eventually fund other women’s companies.

Pipeline Fund, a social venture fund founded by Natalia Oberti Noguerathat invests in women-led for-profit social ventures, recently launched its Pipeline Fund Fellowship, theNew York Timesreports. ThePipeline Fund Fellowship will trainwomen philanthropists to become angel investors through education, mentorship and practice.

The 10 women fellows will learn about due diligence, term sheets, valuations, board governance, and other aspects of evaluating a company for investment. They will each be matched with an experienced angel investor, including both men and women, to serve as a role model. Finally, they’ll apply what they learn to real life; at the end of the program, the entire group will select a women-owned social venture to receive a $50,000 investment.

Oberti Noguera, whose website describes her as dedicated to improving the visibility of female changemakers in the media, told theTimesshe launched the Fellowship to improve funding options for women and help address the lack of women in venture capital.

The 10 fellows (you can view the full list at thePipeline website) come from a diverse range of industries. Each fellow pays $1,000 for the program and also commits to investing $5,000 toward the overall $50,000 investment in the chosen startup.

I think the low amount of capital needed to participate in the fellowship is one of its best features since it opens the program to women who might not otherwise participate. As women, too often we achieve success in business without fully understanding the details of finances. We leave it to someone else, or we’re shy about asking how certain elements of financing really work for fear of admitting our ignorance. And for many women, talking about money openly just “isn’t done.” (One fellow interviewed by theTimesnoted that, although women business owners often network and seek advice from each other, the one area they are still reluctant to discuss with each other is financing, raising capital and investing.)

Getting more women involved in angel capital can only be a good thing. One of the benefits of obtaining an angel investor is not just the money, but the experience and mentorship an angel can bring to your business. Angels typically have some experience in the industries they invest in, so their advice and guidance can be especially meaningful to an entrepreneur. If your angel is a woman who’s been through the same kinds of startup and growth challenges you have, so much the better. Angels who can relate to the women heading companies they invest in will be uniquely poised to help them grow.

TimesauthorAdriana Gardellawill be following the progress of the fellows as they go through the program.

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Abandoned Dialogue

For a while there at one of my earlier jobs it seemed like management got all touchy-feely.

All of a sudden they wanted to know what I thought, what I felt, what I had to say. It was sort of fun for a while, and it felt like maybe some changes might occur as a result, but after a few weeks you could tell they regretted opening this can of worms and all of our thoughts, feelings and suggestions went right out the window as we returned to business as usual.

The above cartoon wasn’t far behind.

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Small Business News: Small Biz Legal Views

Legal issues are the part of running a small business some entrepreneurs hate the most. But attention to legal issues large and small will save you money, time and could even be the difference between success and failure. We’ve assembled some great content on the topic, so be sure to have a look at the post below and offer comments if you have something to add.

Startup

Picking your small business legal form. As you put your company together, many decisions are required, among them the legal form your company may take: sole proprietorship, partnership, S-corporation, LLC. But a recent study suggests that, despite conventional wisdom, the legal form a company initially chooses is far more likely to persist at least through the first four years and possibly through the life of the business than was previously thought raising the stakes of the original decision abouthow a business should be organized.WSJ

Why the legal organization of your small business matters. Since data now indicates the choices made early on about a small business’s legal structure are likely to stick, it’s important for small business owners first starting out to fully understand the future tax and other implications when choosing how to organize their startup. A host of factors make it unlikely business’s legal form will change meaning the choices made now are likely to follow a business into the foreseeable future…and possibly beyond.SunHerald.com

Report on the life-cycle of small business startup? Here is a full report prepared on behalf of U.S. Small Business Administration’s Department of Advocacy with more details on the way in which small businesses choose an initial legal form. The report challenges some long-held theories about the life-cycle of most small businesses from startup to maturity and may give some insight for new small business owners about how to organize their startups for the long haul.SBA

Insurance

How much insurance does your small business need? This recent article from a Midwest news site lists a comprehensive guide to insurance for the small business owner. The overview can be used as a starting point for what can be a very intimidating part of operating a small business: making sure your business is fully covered while at the same time choosing the coverage options that make the most sense for your small business. Consulting an insurance provider and your attorney can help you make some of these tough calls too.Southeast Missourian

Taxes

How knowledgable are tax officials when it comes to tax law. Not very, if you happen to be running a small business in Australia, according to this report from a national broadcaster. In the piece, Inspector General of Taxation Ali Noroozi admits,“The common theme that runs through all of them is this common theme of lack of technical expertise tax law and applying and also an understanding of the taxpayers’ business.” One of the areas where tax auditors receive many complaints is in their treatment of small businesses.Australian Broadcasting Corporation

Regulation

Keeping up with rule changes. A constant challenge for small businesses, no matter where in the world they may be found, is to keep up with local regulations to be sure they are not only in compliance but that they make the necessary decisions to avoid or dilute disastrous costs or penalties due to changes in local policy. Such is the case with a new Pensions Act in the UK going into effect 2012. Are you keeping up with changes in local regulations that may impact your small business?FreshBusinessThinking.com

Policy

State of Delaware dumps small business loan stimulus plan. It might sound like a good idea at first. Have the state treasurer deposit state funds into small federally insured banks over the next 18 months freeing up extra funds banks could then use to make loans to small businesses. A host of concerns raised by the state’s Cash Management Policy Board put an end to the proposal and it’s unclear what guarantee leaders were given that funded banks would trully begin loaning again.Bloomberg BusinessWeek

Resources

Online small business legal advice abounds. Have a legal question about your small business? In the old days you might have browsed the Yellow Pages looking for a local attorney. Nowadays, just fire up your laptop or Web enabled mobile device and you’ll find both attorney listings and free legal advice online. This article is about one such leading resource in the field, but with a bit of practice you can locate many sites containing both small business legal information and contact information for attorneys online.Thomson Reuters

Ohio small business seminars feature legal, other advice. Small business legal advice will be among a variety of topics to be tackled in a series of seminars kicking off next week and sponsored by the Ohio Department of Development. Other topics during the series, which is being offered free to the public, will also include topics like accounting, insurance and e-commerce.Cincinnati.com

News

New Jersey business attorney helps businesses network offline. The idea of networking and building relationships has gained new prominence with the coming of social media. But Ken Kaplan, owner of Kaplan Law, Somerville and Warren, NJ, along co-founder Rea Wilke, professional life coach and CEO Your Life Now in Bridgewater, have put together a very unique small business group. Is there room for one in your community?MyCentralJersey.com

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Small Business News: Small Biz Financial Update

Important financial news continues to break. And we follow it all here in theSmall Business Trendsnewsroom. The latest stories are on overdue changes and ongoing disparities disproportionately impacting small businesses. No matter what the business or what the tools you use to deliver your products or services to your customers, financial issues impact all small businesses and your ability to be profitable.Small Business Trendscontinues to advocate for small businesses on policy issues, but it’s equally important to know the realities as they are rather than how we wish they would be in order to allow you to continue operating your small business successfully into the future. It’s up to you. Enjoy!

Policy

Onerous tax reporting rulefinallyrepealed! Well, it took long enough, but an onerous tax reporting rule that crept in with controversial U.S. health care legislation has finally been repealed. President Obama has signed legislation that eliminates an expanded 1099 mandate which would have hit small businesses especially hard given the involved reporting requirements.Bloomberg BusinessWeek

What a long strange trip it’s been. One of the most surprising things about the expanded 1099 reporting rules recently consigned to oblivion by a stroke of the presidential pen is how long they took to be repealed. Practically a poster child for excessive and unnecessary government regulation which was bad for small business, the rules were first reported in May of 2010 but have taken nearly a year to eliminate despite bi-partisan support. Bloomberg BusinessWeek

Taxes

Small biz compliance cost still disproportionate. Despite the importance of small business to the economy, here in the U.S. at least, small business owners still face many disadvantages including a higher cost per employee for tax compliance. If you want to get an idea of just how uneven things are, check out the chart at the above link and get a better idea.Small Business Trends

Why tax anxiety remains high. It’s bad enough that small businesses spend disproportionately more for tax compliance, but plenty of other tax anxieties occupy small business owners’ minds as well. Like the fact that the IRS seems focused on small businesses when scrutinizing returns and that companies hiring independent contractors, many of them small startup businesses, are often being targeted. The solution? Vigilance and engagement from the small business community. Open Forum 

Lending

Is small business lending getting better or worse? Our own Joel Libava weighs in. With varying news reports from different quarters, it seems clear funding available to small businesses, at least from traditional banks,mustimprove if the economy is to continue its recovery. There are plenty of people involved in this effort, but how long until small business owners and entrepreneurs can expect real improvement?Small Business Trends

Self-development

Business, profit and people. The last of these three MUST be the starting point for any small business, insists John Mariotti, but before you discount this philosophy as unrealistic or romantic, consider that, according to John, business and eventually profit flow directly from the efforts and needs of people. Neither business nor profit are an afterthought. Instead, they are a direct result.Open Forum

10 unconventional tips for managing finances. From tithing to designating a part of your money for fun, these are tips that can be applied by the entrepreneur or small business owner and some, like making your competitors into partners, is directly related to how you run your business today.Everything Finance

News

Canadian youth organization launches entrepreneur competition. The Canadian Youth Business Foundation has announced a development fund to be available to Canadian entrepreneurs between the ages 18 and 35. The fund was established in cooperation with another successful local business and is an example of a community still dedicated to helping new businesses thrived.Flock Free Nation

Tools

Save marketing budget with simple online tools. Mariam Noronha talks about her experiences with a social media site very near and dear to our hearts here atSmall Business Trends, our sister siteBizSugar.com. In fact, saving marketing costs by using a variety of free online tools to do the job is a great way to handle costs in the early days of your business. Don’t pay for services and products you might be able to get for free. TheOneOfAKindPreneur

Tips

Keep track of your friends. Have you kept track of all the people who have helped you in the launch of your business venture? It might be a good idea in case these folks feel entitled to a piece of your company down the road when you’re rich and famous. Keeping track of those who help you along the way may be good planning in the event this translates into a demand for equity in the future.WSJ

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Small Business News: Business Bloganalysis

Small business blogs have become a cornerstone of online entrepreneurship, but is blogging still an important consideration for your small business? We think so! After all, blogging is a great way to create online visibility for your product, service or brand and can be a great way to put a face and personality on your company too. Today’s roundup looks at the viability and ongoing state of small business blogging. What can it do for your business today?

Case Studies

Want more evidence business blogging works? Then read this post. Barry Meehan of Worldwide Cycles describes not only the dramatic impact creating a blog on his independent bike shop but also how he went about creating his business blog, finding content, establishing a voice and creating that delicate balance between promoting his business and not coming across as too salesy. He also uses Twitter and Facebook.BikeBiz

Three examples of successful B2B blogs. Business to business is another place where blogs can really deliver and you don’t have to look too far to find some good examples. See how a distributor of fencing and mesh, a chain management company and a corporate incentive program manager all successfully upgraded their online image with a blog.Business2Community

Tips

The five W’s of successful business blogging. No need to ask yourself any longer whether small business blogging will help your venture. It will, says Deborah Sweeny. And creating a successful blog may be much simpler than you think. Just answer these five basic questions and you will be well on your way to creating a successful blog that builds a powerful presence for your brand.Forbes

Research

Want to know more about blog power? This insightful post is chock full of data not only about the businesses and brands already maintaining blog presences on the Web but about the number of blogs already out there and about the advantage they offer for those who use this powerful tool. If you have any doubts about the importance of blogging for your small business, who won’t after reading further.Australia businessreview

Social Media

Marketing your blog to a larger audience. Of course, one of the best things about blogs is the“foundation,” as UK construction marketing blogger Peter L. Masters describes it, that they provide to promote your message via social media. You can share your blog posts over a nearly unlimited number of social media sites once it has been published and Peter gives some specific examples here.Construction Marketing UK Blog

12 tips for boosting your blog. Learning to make the most of your blog posts while marketing them via social media is another important part of the equation. Created specifically for our sister site BizSugar.com, here are 12 tips likely to improve the performance of your blogs posts whether in our community or on other social media sites. Hope it will help others master the art of marketing your blogging through social media.  BizSugar Blog

How to

How to master small business blogging. Once you’ve looked over the data and decided to give blogging a try, how do you get started? Learning to blog for your business is not as hard as you might think. This post gives those interested in taking part a simple step by step introduction that should have you up and bogging for your business almost as soon as you finish reading!FreshBusinessThinking.com

Sales

How to improve conversion. It’s all about the sales. We’ve said before that the power of blogs lies in the their ability to build your brand. But what most entrepreneurs really need from day one is sales. Check out these tips for improving sales conversion. How many could you apply to your business blog today to add to your business to business sales.MindMulch.net

Conclusion

10 things to consider before getting started. Sure we’ve given you a lot to think about and now here’s some more. Before you start your business blog (assuming you haven’t done so already) check out Niall Devitt’s awesome tips for getting your blog right. Warning: don’t let yourself obsess over these and never get started.Bloggertone

Blogging dos and dont’s. Want to make a last review as you prepare to launch your small business blog. This blog will represent your business, so be sure to avoid any mistakes that could really cost you with your customers. In this post, Michele Welch gives us one more guided tour of the best and worst to watch for in your blogging efforts.Technshare

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CHART OF THE WEEK: The Cost of Small Business Tax Compliance

Today is tax day in the United States. And in honor of that auspicious event, this week’s chart looks at the cost of small business tax compliance.

Although it probably won’t surprise most of you to learn, it costs much more on a per employee basis for smaller businesses to adhere to federal tax regulations. The figure below shows the results of astudy of the cost of complying with U.S. income taxconducted on more than 7,000 companies that met the IRS definition of a small business– a C corporation, S Corporation, or partnership with up to $10 million in assets.

CLICK for Larger Chart

The study’s authors combined the cost of both money and time spent on adhering to tax rules, estimating the cost of time at $45.50 per hour.  When they combined the time and money spent on adhering to the tax rules, they found steep economies of scale in tax compliance.  As the figure shows, businesses with one to five employees averaged $7,274 per employee to adhere to federal tax regulations, while businesses with more than 50 employees averaged only $296.50 per worker.

For those keeping score, the study found the largest cash cost of tax compliance was for tax preparer time, while the largest time burden was for keeping records.

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Small Business News: Online Business Brief

Whether your business or functions basically online or off, today the Web probably plays a role of some kind. Whether it’s simply to be sure your business is found when potential customers search for products and services you provide in your region or to make sales from a business that is completely online with no real physical place of business doesn’t matter. The need to understand online business is critical for most small business success these days. How important is online business to you?

Policy

Will defeat of net neutrality really hurt small business? The jury is still out. While proponents of‘Net Neutrality” insist that without it small business Websites may be harder to access, other insist these predictions of doom and gloom for small businesses are exaggerated. What are your thoughts? Will changes in the“Net Neutrality” regulations have an impact on your business?USA Today

SEO

Why your business must worry about Search Engine Marketing. You don’t need to have a Web-only business to use search engine marketing. In fact, in the era that has seen the decline of phone books and even newspapers as a means for getting local information, the need for sharing your business with an online audience becomes ever more critical. Search Engine Tutorials

How to create“authority” for your business online. When we talk about“authority” online, we are usually talking about how search engines perceive your Website. The way search engines perceive your blog may impact the kind of business you get and the kind of brand you created for your business. Knowing the best will help you improve how your business is being perceived.SEODesignSolutions.com

Eight tools that make a difference. The bottom line is that just because your business is online, doesn’t that everyone will find you there. The key to marketing your small business online is basically the same as the key to marketing it off. You must let potential customers know where to find you. One thing that can help is the right tools.Abnormal Marketing

Blogging& Podcasting

The importance of business blogging for online marketing. In the age of search engine upgrades like the Google Panda update, one kind of business communications continues to be successful and effective: blogging. To learn more about the best tips for making your business blog stand out from the crowd, be sure to read Ivan Widjaya’s post on the topic.Noobpreneur

How podcasting provides yet anoher online marketing tool. Here’s an overview of podcasting and an interview with blogger Hector Cuevas about the power of podcasting to bring an increased audience and potential leads to your Website. Do you view podcasting a valuable tool for reaching new potential customers?Timo Kiander

Social Media

To tweet or not to tweet. There is no simple answer to this question. But the fact is that social media like Twitter etc. can be used in many ways for your small business, including as a resource for valuable business information and to monitor what folks may be saying out there about your business or brand. If you want to learn more about how Twitter can help your business, read the full post above.Forbes

How successful is social media? Has it helped you personally build your business? In the end, your online business is like any other. The important thing is to determine what solutions work for your business. What kind of marketing brings the best return? Social media also lends itself to a variety of options from marketing to networking to customer service. Is it right for your online business?SEO GEEK

Online Video

Video can boost your small business. Don’t forget the video option when it comes to creating marketing material for your online business. If you’re not yet sure what video can do to promote your business or how it differs from other online content you may use in your marketing efforts, please read the post above.Small Business Bliss

Final Thoughts

The online world is a whole new realm. A cautionary note as your business explores the online world: be careful as you begin. Anyone who has been in business for any length of time knows that a small business owner puts part of their personality into their business and establishes a personal connection with customers. But in the online world, concerns over privacy are being raised. Watch how much you share with your customer (and the rest of the online world).Global Copywriting

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Let Your Story Cut Through the Noise and Clutter

“The universe is made of stories, not of atoms”~ Muriel Rukeyser

On January 5, 2007, I was sitting out on my lanai looking out at the lake and golf course in Ft. Myers, Florida. I was officially and unexpectedly in between careers and jobs, living in a town where I literally knew one person. I had made a voluntary career transition in August 2006 and decided to embark on yet another adventure in my life–one that did not turn out the way I had anticipated.

I was stunned, uncertain and yet strangely excited. The question came into my head,“What do you really want to do, not what do youhaveto do?”I really wanted to start my own company using all of my gifts, talents, passion and expertise to help others and do what I do best: teach, guide and train. On February 4, 2007, I launched Train with Shane. I just celebrated 4 years in business.

That defining moment on the lanai led me on the most exciting, nerve-racking and challenging ride of my life.

My storyline?

“Deborah Shane is a tenacious‘career revivalista’ who has transitioned through several careers. She has transformed herself from a rockin’ singer, published songwriter, teacher and award-winning radio sales professional to a gutsy author, entrepreneur, speaker, radio host and expert.”

We know that stories are the most powerful way for people to connect with each other. We all love stories because we all have them and can relate to them. The plot, the characters, the setting, the conflict, the resolution, the moral is the oldest from of telling and sharing experience, wisdom and history that we have. Today, storytelling is one of the most effective approaches to use in brand recognition and development.

Telling a story to drive home a theme or point is so powerful and lasting that it can cut through all the noise and clutter to grab someone’s attention very quickly.

Consider:

• The courage and perseverance of Erik Weihenmayer, the first blind adventurer to summit all seven of the planet’s highest mountain peaks.
• The innovation and vision of Ray Kroc of McDonald’s to revolutionize fast food.
• Sara Blakely getting over her fear of sales to make Spanx the success it is today.

There are thousands of these stories that come out of the lives of real people that drive home the lesson, principle and moment of clarity that come when we take that leap of faith to do what we are driven to do.

Here are 3 ways you can build a story and your brand connection with people at the same time:

1. Identify your life shapers and turning points.We all have specific moments in our lives when things shifted and changed–moments that shaped our ideas and were turning points in our lives. Think about five of those moments in your life and what lesson came out of each that makes you who you are today. Use that to craft a story.

2. Think of random situations or occurrences you were involved inor witnessed that greatly moved you and why.Craft a story around what you saw, thought, felt or learned.

3. Talk about things, issues, causes that you are passionate about and why.We all have charities, causes and things that we want to be a part of and align ourselves with. Craft a story around how these led you to do something.

What’s your story?Find it, tell it, share it and celebrate it.

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10 Quotes To Examine Your Business By

This series is underwritten by UPS.Discover the new logistics. It levels playing fields and lets you act locally or globally. It’s for the individual entrepreneur, the small business, or the large company. Put the new logistics to work for you.

Inc Magazine held its Growco conference April 6 -8, 2011.  I attended— and the speakers were excellent.  So I picked out 10 quotes to make you think harder about your own business and where it’s headed:

• “Instead of being‘heads down’ we should be‘heads up’ so we can spot trends”This is according toJosh Linkner,  the Founder of ePrize, a venture capitalist, and now bestselling author ofDiscipline Dreaming.If you don’t stop and look around you, you miss the big picture.  You can’t look ahead. Are you taking time to look“up” in your day?

• “I have no good ideas. I‘steal’ them from my staff.”Said by Duane Jebbett, CEO of Rowmark, a plastics maker from Ohio.  The point here is NOT about taking credit for your employees’  ideas.  It’s actually the opposite— it means to empower your staff to think and solve problems on their own.  So, are you encouraging your employees to come up with good ideas?  And do you adopt their ideas, or do you ignore them because they are not your own, as if their thinking doesn’t count?

• “Get comfortable marketing on the Splinternet.”The‘Splinternet’ refers to the splintering Internet, meaning…  people increasingly get access to content and to your brand using multiple  devices and multiple platforms.  So said Shar VanBoskirk of Forrester Research.  For more, read from the Forrester blog: Proof the Splinternet is RealandThe Splinternet Means the End of the Web’s Golden Age. The critical question is:  are you customizing your content, products and marketing messages to be seen and experienced by your customers no matter the device  (iPhone/iPad, BlackBerry, Android) and no matter the platform (Facebook, XBox)?

• “Technology has enabled small companies to do amazing things,”says Phil Simon, a technology consultant who helps  companies optimize their use of technology, and author ofThe New Small.  Phil’s comment reinforces a refrain regular readers of this site know well.  Technology has the power to give small businesses bigger reach and bigger profits.   Is there some repetitive low-value-add activity that you could automate?  Have you even looked around lately to see what technology solutions will help your business be more efficient, or operate faster or cheaper?

• “When a business has mojo you want to be associated with it.”Bo Burlingham, author ofSmall Giants: Companies That Choose To Be Great Instead of Big, went on to liken business mojo to charisma that a person might have.  Mojo makes your business seem attractive and desirable.  People want to work in it, they talk about it, they think of it when it’s time to buy.  Does your business have mojo (charisma)?  What would give it mojo— a fresh brand identity, or a unique twist to your product, or something else?

• “Stop trying to get people to like you– instead care about THEM.”This quote is courtesy ofKeith Ferrazzi, author ofNever Eat Alone. He emphasizes showing others how you can help them when you communicate or interact. When you write emails or approach a sales prospect, are you emphasizing what you can do to help THEM succeed— or is it all about you?

• “Buying a killer domain name in our industry was important.”This was said by Seth Newman, President ofEnvelopes.com, in the context of a session on constraints to growth.  Getting an easy-to-remember, single word domain name was one of the growth strategies for Envelopes.com.  According to Newman, the company  paid $400,000 for the domain name and rebranded the company (it previously was called Action Envelopes— not nearly as memorable).  Are you prepared to invest and make bold moves to grow?

• “Entrepreneurship is not for the faint of heart. Balanced people don’t change the world.”This is byChris Guillebeau, author of The Art of Non-Conformity.  Chris’s point wasn’t to deliberately work yourself sick.  Rather, work with a sense of urgency and embrace life and your work to the fullest, to the point that it satisfies you.   If you are not satisfied, change it.  Are you satisfied with the mix of time you are devoting to your life and to your business?  If not, how would you change it?

• “Your employees can sense when you’re not engaged. It hurts your company.”That’s according toMike Faith, CEO of Headsets.com and avowed customer service fanatic.  He says you have to stay interested, energetic and involved.  Are you as interested in your business today as you always were?  Or have you checked out already? If so, find a way to get your excitement back.

• “Resistance to change is often just a lack of clarity.  Ambiguity is the enemy of change.“So saysDan Heath, co-author ofSwitch: How to Change Things When Change is Hard.  He was referring to change in the context of organizational leadership and employees.  It’s not that employees may not want to change.  They may just not understand what change you want, or why, or how to go about it.  Are you being as clear as you can be when explaining to your team what should change and why?

Some quotes above were paraphrased, based on note-taking during the live event.  For more quotes and coverage read Inc.com Editor Mike Hofman’s“5 Takeways from Growco.”

Photos above:

(1) have netbook, will travel at GrowCo (the author’s work set up at the conference);

(2) panel discussion with Mike Faith, Steve Kimball, Phil Simon, Bo Burlingham (l to r); and

(3) Inc.com Editor Mike Hofman with Chris Guillebeau

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Small Business News: Small Biz Finance Info

Small business finance issues are central to success. Why? Because without proper financial management, most businesses, no matter how much revenue they generate, would be doomed to failure. So, we’ve assembled this collection of small business finance information to help you manage this most important aspect of your company. Enjoy!

Management

Small business financing still big issue with local chambers. Take this announcement for a seminar on small business financing to be offered by the Anderson County Chamber of Commerce in Clinton, TN. Finding ways to allow operating small businesses and startups to access business financing has become a major focus among small business advocates. How important and realistic is a quest for better business financing in today’s economy? What alternatives exist?knoxwnews.com.

Cash flow issues key problem for small business. A key problem with small businesses continues to be cash flow, says a recent study from American Express OPEN. The survey says concerns over cash flow remain even as many small businesses move into growth mode after a long struggle. Possible explanations?gaebler.com

Trends

Could the strength of local economies impact small business lending? That may have been exactly what did happen in Massachusetts where, according to recently released data, small business lending fell far less during the economic downturn than it did nationwide. The reason, states a story on the topic, is that a strong local economy had a direct impact on the amount of small business lending being approved.Boston.com

Rapid growth puts strain on finances. When small business owners fail to properly anticipate how fast their companies will grow and then over-commit as orders or clients roll in, the result can be high employee turnover and poor cash flow. Talk about being a victim of your own success! Here’s more on the topic for you to consider.Sydney Morning Herald

Investment

Help your customers finance your products. Want to sell to a customer who may not have the money right up front? Why not help them finance their purchases with a program extending credit on your latest product or service? See how one company is already doing this on a truly massive scale to open and secure a huge market. Could you do the same?The Economic Times

Funding your small business with a 401 (k). Read one entrepreneur’s startup story using this increasingly popular approach to funding. When banks (and every other traditional financing option open to entrepreneurs in the past) seem to be failing to meet the need, some perspective small business owners have turned to a more creative approach. Warning: This approach is somewhat controversial and has apparently resulted in greater scrutiny here in the U.S. from the Internal Revenue Service.WSJ

Taxes

Tax decisions that could cause you grief. A big part of the financial planning for your small business these days must, out of necessity, involve planning for small business taxes. Unfortunately, some decisions recommended by financial advisors may, from time to time, cost you more in trouble with tax authorities than they will save you in terms of reduced taxes. Beware. Massachusetts Society of Certified Public Accountants

Avoid the tax gap squeeze. As the tax season comes upon us, it may be helpful to remember the importance of financial management for your business as far as changes in the tax code are concerned. Here in the U.S., it should come as no surprise that tax restructuring can sometimes impact small businesses disproportionately. Here,Small Business Trendsfounder Anita Campbell talks about how to avoid one such“squeeze” awaiting some small businesses and how to take your business out of the vice.Open Forum

Policy

A bailout for small business? A bit of wishful thinking here about how to make bailouts serve small businesses, the real engines of economic recovery, has Scott Shane, Professor of Entrepreneurial Studies at Case Western Reserve University, speculating about the shape of a bailout that would really work. The first steps: study the private company credit market and figure out a policy that will keep banks lending even in the depths of a recession.Bloomberg Businessweek

Why“broad-based” tax cuts are the real key to helping small business. Jeff Cornwall, professor of entrepreneurship at Belmont University, has these thoughts about a proposed bill to give tax breaks to angel investors who provide capital to startups. Jeff has repeatedly argued, along with other experts, that tax cuts for consumers would be much more helpful for stimulating small business growth than improved access to capital.The Entrepreneurial Mind

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