Did someone cut the strings to your golden parachute? It’s happening to a lot of Americans, with the unemployment rate soaring to 8.1%, the highest in 25 years. So what do you do when you no longer have a golden parachute?
Well, you can join the ranks of those going into “forced entrepreneurship.” That’s what Mark V. Cannice, executive director of the entrepreneurship program at the University of San Francisco, calls the flood of people starting new businesses after being laid off.
Recessions are good times to start small businesses, and traditionally the number of small businesses has grown in these times. Examples include the recessions that spanned 1990-1992 and 2001-2003 (according to the Small Business Association).
But unlike in previous recessions, people are finding more reasons than ever to start a small business now. Here are 7 of those reasons.
1. Zero and Low-Cost Marketing
The internet has made it possible for just about anyone to market their small business for little or no cost. The more you know about online marketing, the less it costs.
2. Business Investors and Partners
The internet also makes it easier than ever to hook up with strategic partners and investors around the globe. You no longer have to fly to a foreign country to have a foreign partner.
3. Microlending Explosion
Thanks to the likes of Grameen Bank the concept of microlending has taken off. Now you can qualify for very small loans ($500-$35,000) with the help of the Small Business Administration.
4. No Stigma
While corporate employers used to view entrepreneurs with some disdain, these days large employers take a more positive view of startup activity. Having seen the positive and Darwinian-like effects of skunkworks and spin-offs, entrepreneurial activity is now seen as a positive factor in a resume.
5. Low Overhead Businesses
Many ex-employees are launching micro-businesses rather than small businesses. They are aiming to serve individuals and other small businesses instead of launching the next Google. When you’re developing a tiny business, the overhead is much lower.
6. Home Business Explosion
Home businesses, network marketing, MLM, and direct selling are all becoming far more acceptable to ex-employees. While these people may have been “snobs” about these businesses in the past, the extremely low overhead (average $200 a month) and the abundance of professionally-run home businesses encourages many to reconsider these opportunities.
7. Turn the Economy Around
The Bureau of Labor Statistics confirms that small businesses are some of the largest employers in the economy. Last year, according to the Bureau, 3.8 million companies were small companies with fewer than 10 workers, and they employed 12.4 million people, which is about 11 percent of the private sector work force.
Maybe you already have a small business. What caused you to start yours? Why should others join you in your entrepreneurial efforts?
If you enjoyed this post, please consider leaving a comment or subscribing to the feed to have future articles delivered to your feed reader.
Photo credit: Golden Parachute
Tags: golden parachute, recession economy, small business startup, start small business
What’s Your Small Business Brand?
I love to dig through “how to” books, ebooks, and newsletters on marketing, especially online marketing. I’ve read a lot of pages about a lot of marketing topics, and one question I always comes away with is, “What the hell is small business branding, anyway?”
Small Business Branding from John Jantsch
Sure, I’ve read all the books about it, but when it comes to small business branding is a completely different animal than branding for an international conglomerate. I recently came across a great definition of branding from John Jantsch that is perfect for small businesses. He says:
“I like to define small business branding as the act of intentionally becoming more knowable, likable and trustable - in a way, much more aligned with how we might think about a personality.”
To me that makes a lot of sense. After all, we can readily identify people by their personalities. For instance, a friend asks you, “Do you know so-and-so?” If the person has a strong personality, they immediately come to mind, and you reply, “Oh yeah, he’s the guy with the bulldog personality.”
Small Business Branding in One Sentence
The same thing can happen around your small business brand. If you could define your small business brand in one sentence, what would you choose?
In my personal life I am a complete horse-freak. I haven’t found too many horses I can’t love. I read, watch, and inhale just about every horse-oriented piece of information I can find. As with any industry, certain businesses in the horse industry are well-branded and others are not. Here is a mixed bag of one-liners from the horse world. I have heard more than one person say about each of these businesses or business personalities (please note these do not necessarily reflect my own opinions):
Country Supply: “Wal-mart for horses, without the service”
Meredith Hodges: “That mule lady on RFD-TV who outsmarts mules”
Pat and Linda Parelli: “Great ground work … do their people ever get on?”
Fly Predators: “Those bugs that eat flies.”
Smart Pak Equine: “Supplements custom-made for me, the lazy horse person”
Notice how each of these one-liners is a statement about the degree to which each of these businesses or business personalities is “knowable, likable and trustable.” Some are knowable without being trustable (Country Supply) while others are knowable, likable, and trustable (Meredith Hodges). Some are just knowable, like the Fly Predators.
What is Your Small Business Brand?
If you could make a one-liner brand for your small business, what would it be? How could you shape it so that if reflected your brand’s ability to be known, liked, and trusted? How does this affect what your business does, how it offers products and services, to whom it business markets, and with whom your business is associated?
Got a hot small business brand? Something fun or quirky? Tell us in a comment!
If you enjoyed this post, please consider leaving a comment or subscribing to the feed to have future articles delivered to your feed reader.
Photo credit: “So this mule walks into a bar …”
Tags: examples of small business branding, small business branding
Posted by Stephanie on Mar 27, 2009 in
Small Business Management 
How to Stop Watching TV and Get to Work!
According to the Merriam-Webster dictionary the definition of the word procrastinate is “to put off intentionally the doing of something that should be done.” The synonym procrastinate is “delay.” We can all probably think of a lot more words that resonate with procrastinate, like denial, distraction, and avoidance. Or here’s another list that might work: sleeping, eating, watching TV, chatting on the phone with friends, listening to the mp3 players, and taking out the trash. If any of the items on these lists distract you from doing tasks that will make you profitable in your small business, then it’s quite possible that you have a procrastination problem.
Procrastination? You’re Not Alone
But rest assured that you are not alone in having a procrastination problem. According to University of Calgary professor Piers Steel, more people than ever feel they chronically procrastinate. His study, published by the American Psychological Association, showed that in 1978 only about five percent of Americans felt they were “chronic procrastinators.” Now that figure has risen to 26% (and that’s only the people willing to admit that they have a problem!). The question then becomes, “Why do you have a procrastination problem?” Here’s a short list of reasons why you might be avoiding tasks you should be doing in your small business. You:
- are overwhelmed
- don’t know what to do
- feel someone else should do it
- feel the task is unnecessary even if required
- are already too behind on many other tasks
- would rather be doing something else
- don’t like doing the task
- can’t do the task perfectly so you don’t do it at all
And to this list you can, of course, add the fact that you didn’t have a happy childhood (or substitute your own personal favorite excuse). But what can you do if you have a procrastination problem but you want to succeed in your small business? The answer is simple.
Get a Buddy
Get a buddy who has a procrastination problem, too, and break your day into little bite-sized chunks. Look at your horrible list of tasks for your small business, which you’ve been avoiding like the plague, and pick a couple of tasks that can be done in one hour. Call your buddy and tell him, “Hey, I’m going to be doing two things in the next hour: responding to prospect queries and making my scheduled cold calls. What will you work on?” Once you and your buddy have a plan for the hour, synchronize your watches and get going.
Your goal is to complete your chosen tasks in an hour. If you finish early, then you get to take a break. At the end of the hour, call your buddy and compare notes. If you finished your tasks then pick two more for the following hour. If you didn’t finish your tasks, break your list down into smaller chunks and choose two smaller tasks for the coming hour, such as responding to just three prospect queries instead of all of them. Keep picking and completing items on your to-do list in this way for several hours. If you don’t have a whole hour to spend, then choose smaller tasks and work for shorter periods of time. You will be amazed at how this little technique can dissolve your procrastination problem in short order.
Chunk Down Your To-Do List
This approach of “chunking down” your small business to-do list and working with a buddy helps you get beyond your procrastination problem several ways. First of all, working with a buddy makes the occasion seem social and fun rather than tedious and boring. Second, by not looking at your whole list all the time, you avoid feeling overwhelmed. Third, by finishing two tasks every hour you have a wonderful sense of completion, which definitely trumps the lousy guilt that comes from procrastination. Finally, with this method you can’t fall back on the excuse that you don’t know what you do. You just pick two tasks and do them. It’s not rocket science and you may not always pick the two best tasks, but it sure beats sitting on your rear and procrastinating until the sun sets! Following the adage that “something is better than nothing,” this method means that you will have accomplished at least something productive in your small business by the end of the day.
Photo credit: stop watching tv
Tags: procrastination problem, productivity solutions, small business
Posted by Stephanie on Mar 26, 2009 in
Small Business Management 
“Genius. It is just attention to something specific. That’s all it is … so anyone who gives attention to any subject for a period of time will evolve in the direction of that understanding.” — Abraham-Hicks
Most of us wish we were geniuses but almost none of us feel that we are. Society tells us that the Einsteins of the world come along maybe once in a generation.
But you are a genius – we all are. At what? At being you. And that may be enough to help you create online success for your small business. Why?
Ever look around on the web and find that most online businesses are, well … boring? Loud? Obnoxious? And definitely unappealing? Ten-page ads are NOT appealing. Empty promises of making thousands of dollars in a few weeks – appealing, but not very realistic. This mass of unappealing web content is the result of people trying to be the model of success – but these people have forgotten to be themselves.
At the other end of the spectrum, look at what’s really a success online: social networking. MySpace, YouTube, Facebook. What’s that all about? These sites are about people being themselves. They show themselves as they really are–grungy, attractive, silly, sad, and smart by turns. Other people are really attracted by that authenticity.
Some MySpace users have over 1.5 million friends. Count ‘em. Yup, we said millions. What are they doing? Nothing but putting a spotlight on who they are. They are geniuses at being themselves, and that attracts.
You are also a genius at being you. So if you want to attract people online to your small business, be the genius that you are. Don’t hide your personality under a bush or cloak it in a lot of “expert” bull-pucky. Express yourself!
Whether you write articles, author a blog, put up a page on MySpace or post a YouTube video, the germ of success for you lies in your own genius.
The age of the guru is over. The age of “people like me” is here, now. People want to interact with people like them, people like you.
Whoever you are and whatever you’re situation, write about it so people can connect with you. Connecting is as simple as letting people know not just who you are, but how you are. Describe your situation and BE HONEST. Are you a mom stuck at home dealing with dirty diapers and toilet training but longing for some time and money for yourself? Then say so. If you haven’t washed your hair in three days because you don’t have time to, but you really want enough time and money to hire a babysitter, dress up for a few evenings of adult conversation and wine … then blurt it out!
If people can have 1.5 million “friends” online talking about their most recent fight with their boyfriend or a bad day at work, just think of what you can do with your home-based business by just being you? Blog, submit articles, write reviews, set up a business website, get a MySpace page … whatever. Just don’t lose your personality along the way.
As Coco Chanel, the grande dame of fashion, once said:
“How many cares one loses when one decides not to be something but to be someone.”
Photo credit: All the Pretty Things
Tags: online genius, small business
Meet Rick. I met Rick at the local smoke shop, aptly named “Smokes.” The first time I met him I knew I wanted to profile him on the Go Small Biz Blog. There’s something about Rick that makes people feel comfortable, an attitude of mellow attentiveness that really makes people come back. I did.
In this somewhat deflated economy, it’s important to highlight what is working for small businesses. Rick is working for Smokes. Since he has been working at Smokes, business has picked up 40%. Yesterday I visited with him at Smokes to find out what it is about him that makes people keep coming back and keep buying more. Here’s what he told me.
1. Blunt Honesty
A steady stream of customers came in while I was chatting with Rick, and I watched how he helped each one of them. He’s quick with his opinions and they are honest. One man asked to look at an item in the display case. Rick was happy to pull it out, but at the same time said, “That will fall apart on you right away. I would recommend this one,” pointing to a pricier model. The sheer matter-of-factness in his voice made it a no-brainer for the customer, who promptly followed Rick’s advice. Customers know Rick is honest, and are happy to follow his guidance, even if it means spending a few more dollars.
2. The Fuzzy Slipper Factor
People who walk into the store immediately feel comfortable. Even if Rick is helping someone else, he always greets any new person walking into the store and says he’ll help them soon. This may seem like a tiny detail, but how many times have you walked into a store only to be ignored by the salespeople, who are either helping other people or chatting amongst themselves? When Rick is helping you, even if there are other customers in the store, you never feel like he’s in a hurry or you are wasting his time. I call this the fuzzy slipper factor. Rick makes customers feel as comfortable as if they were wearing fuzzy slippers.
3. Informed Opinions
Everyone has an opinion, and many opinionated people can be difficult to listen to, but not Rick. Rick doesn’t just have opinions, he has informed opinions. He proudly pulled out a 2-foot tall water blue platic water pipe and told me that it had been broken. He pulled tried fixing it and pulling it apart with every tool at his disposal, including a hacksaw. But, being an educated microscope engineer, Rick finally figured it out. Rick likes to figure things out, which means that when he offers you an opinion, it’s usually the result of some personal experience or research. Despite the name of the shop, Rick doesn’t blow smoke up your you-know-what!
4. Don’t Sell the Unwilling Customer
The store recently started carrying electric cigarettes, which deliver nicotine through water vapor instead of smoke. Some people love the idea and some people hate it. Many a wife has sent her husband down to see Rick about getting electric cigarettes, mostly because the wives can’t stand the smell of cigarettes. The wives love the idea of an electric cigarette that has odorless water vapor instead of smoke. The hubbies are not so thrilled. One showed up in the store with a chip on his shoulder and the attitude, “OK, educate me!” Rick said he attempted to discuss the product with the man for a few minutes before moving on. No point in selling the unwilling customer. As a person who admits he’s “basically lazy,” Rick doesn’t expend effort that goes nowhere.
5. Help People
This is the biggie. Rick says that in every job he’s ever worked he has always been able to help people–a lot! When people show up to Smokes, he definitely has a friendly helpful attitude, whether they want an opinion on cigars or they want to buy a 2-foot water pipe. Rick may be an employee at Smokes, but he acts like he owns the joint with his level of caring. What’s the point? If you’re going to be in the store anyway, go ahead and care about the people who walk in. Don’t fake it till you make it, be for real. Don’t just be in your business to make a buck. Make a difference if you can.
Meeting Rick is kind of one of those “you had to be there” things. I can write a bunch of stuff about him, but I can’t really transmit that special something about Rick through words. You have to meet him. Or maybe you don’t. You have probably met the equivalent of Rick somewhere along the way.
The question is, how can you put more “Rick” into your small business to make it friendlier, more comfortable, more honest, and more attractive?
Tags: management, sales, small business, smoke shop
Some Small Biz Things to Think About
Getting tired of the usual crud that goes on in your office? Or the productivity that hasn’t been happening in your office lately? A lot of small business owners are just plain bummed because business is bad.
Well, maybe it’s time to shake up your thinking about your small business. Here are some small business to think about. These links point to some interesting blog posts on why social media king Chris Brogan uses coffee shops for offices, on why your small business brand can’t be like Batman, and why you can follow only one or two “teachers” at a time (or go crazy). Enjoy!
Chris Brogan Uses Coffee Shops for Offices
This blog post gives you a great reason to get out of the office. Chris says he rarely goes to his office south of Boston. He likes the easy accessibility of ideas in bookstores. If you need an idea, just stand up and grab a book. Flip through it, get inspired, and then sit back down with your coffee, laptop, iPhone, whatever, and get productive, creative, inspired … anything but bummed but where you business is now.
Check out Chris’ post here.
Why Your Small Business Brand Can’t Be Like Batmat
Rohit Bhargava makes a great point on his Influential Marketing Blog. He says that small businesses can’t brand themselves like Batman, which means being everywhere all the time. Batman has a tool belt with all kinds of tools. If Batman were a small business he would be on every social media platform all the time, spreading the brand message on Twitter, YouTube, Facebook, Ning, Digg, and more. Small businesses can’t afford to be Batman, according to Rohit, and I tend to agree with him. He points out that small businesses successful with social media have chosen a primary media in which to excel. He points to Comcast and Twitter as a prime example.
Check out Rohit’s post here.
Follow Few Teachers
As Sonia Simone says on her recent Remarkable Communication post, advice on “what to do” for you small business can end up being as numerous as grains of sand in a sandstorm. It’ll drive you crazy. Therefore, don’t try to follow every guru out there who tells you “Obey Me or Fail”! Instead, Sonia gives some tips on how choose the right small business guru for you and your business, and also how to follow productive cycles of learning.
Check out Sonia’s post here.
Photo credit: Renee thinks
Tags: Chris Brogan, small business inspiration, small business management
I mean that. If your butt’s not dirty then there is something wrong.
Taken in the wrong context that could be considered bathroom humor, but it sure made sense to me yesterday, when I took my horse to a team penning and sorting event. For those of you who don’t do horse and cowboy stuff, that means we paid good money to chase cows around for 90 seconds.
These pictures are a couple of my good friends who with me at the penning and also a shot of all the people, horses, and rigs at this event. What’s the point of all this?
There may be a recession but you wouldn’t know it at this team penning.
It wasn’t possible to capture all the horse-and-trailer rigs at this event in a single shot–there were that many people there. People were plunking down $200-$350 for a day’s worth of fun, not counting the cost of hauling their horses to the event, lunch, beer, and the daily overhead of owning horses.
In other words, people may be tightening their belts by not getting regular dental cleanings or skipping on groceries, but they are perfectly willing to pay out cold hard cash, and lots of it, to have some fun.
There are some things that people WILL NOT give up, even in recession.
Their point of view is exactly this: if your butt isn’t dirty (meaning you haven’t been sitting in the saddle and playing with cows) then something is really wrong! Sure, you have to make concessions in a recession, but these people are not giving up their horses or cows. To them, chasing cows around is cheaper and more fun than visiting a shrink.
As a small business how can this situation equal profits for you?
Look at your customers (or consider a new customer base) and ask yourself these questions:
- What is it that these people will NOT give up even in recession?
- What will people give up right away?
- What do your customers use as “therapy”?
- What do you offer that would be the equivalent of “comfort food”?
- Are you a discount version of something people want? Discount stores are thriving!
- Can anything you offer serve as a distraction from all the economic doom and gloom?
- Can you be a sideline service for something that people won’t give up? (The food vendor at the team penning is a great example.)
What are the indispensable products and services even during an economic downturn? How can you hitch your business to that bandwagon? Remember that we’re not necessarily talking about physically indispensable products and services. Think about how your business can be emotionally indispensable, like a security blanket or comfort food.
In a recent post I talked about the dentist who moved his business to a truck stop, where his trucker patients “required” his services because they were so much pain. Whereas regular patients are skipping dental cleanings, truckers in pain can’t skip a tooth extraction. The dentist brought his business to where his services were a necessity.
How can you do the same for your business? How can you serve the equivalent of the team penners in your industry? Have some ideas? Drop me a line!
If you liked the humor or knowledge in this post, please share Digg it, email it, or share it with your buddies!
Tags: horses, recession, small business, team penning
Posted by Stephanie on Mar 20, 2009 in
Small Business Humor 
Money, money, money!
Tired about hearing about the recession? Wondering whether you’re small business or your checkbook are going to benefit from economic stimulus? Just grateful it’s Friday so you don’t have to think about it anymore?
Here are some humorous quotables about money to send you into your weekend with a smile on your face! Enjoy!
“Money is good for nothing unless you know the value of it by experience.”
– P.T. Barnum
“Whoever said money can’t buy happiness didn’t know where to shop.”
– Gertrude Stein
“I’m living so far beyond my income that we may almost be said to be living apart.”
– e e cummings
“If you can count your money, you don’t have a billion dollars.”
– J. Paul Getty
“If you think nobody cares if you’re alive, try missing a couple of car payments.”
–Unknown
“If you’d know the power of money, go and borrow some.”
– Ben Franklin
“I am having an out of money experience.”
– Author Unknown
“Money is like manure; it’s not worth a thing unless it’s spread around encouraging young things to grow.”
– Thorton Hornton Wilder
Photo credit: Money, money, money
Tags: money, money quotes, quotes about money
Turn Your Small Business Model Inside-Out
Times of economic turmoil offer small business owners some of the best opportunities to see their businesses in a different light. Economic upheaval gives us an excuse (as if we need one) to examine our business model and, if need be, turn it completely upside down.
One enterprising small business owner, dentist Thomas P. Roemer, has done just that. While most dentists work out of traditional offices, Dr. Roemer works out of a building at the world’s largest truck stop in Walcott, Iowa. Roemer used to have a practice in the nearby town of Davenport, but recently decided to open up an office at the truck stop. Why? Because he has always gotten consistent business from long-haul truck drivers who were in pain and in need of immediate help. That gave Roemer an idea.
Go Where the Patients Are
While many doctors and dentists see their businesses shrinking as people try to save money by skipping regular checkups and dental cleanings, people in pain need immediate help. The truckers who call on Roemer need help now, and the truck stop gets 35,000 visitors per week. As Roemer puts it, “You have people walking in holding their jaws in pain. Treatment is not optional — they need to see a dentist, and they need to see me now.” Thus Roemer gets a steady stream of business from people who cannot opt for a cheaper solution because their pain is overwhelming.
Instead of attempting to bring patients into his practice consistently by scheduling regular checkups (a technique that doesn’t work well when people are reluctant to spend money), Roemer brought his practice to patients who are begging for help, no questions asked.
Can You Emulate Dr. Roemer?
Does this give you some ideas for your business? Does this spark ideas on how you might turn your business model inside out? Here are some questions you might ask yourself about your business and your customers:
- How can you go to where your customers are instead of trying to bring them to you?
- What are your customers willing to spend money on, no questions asked?
- When are your customers willing to spend money, no questions asked?
- Where are your customers when they might need your services?
- In what circumstances might your customers be more willing to hear what you have to say?
Can you pull a Dr. Roemer turnaround on your small business model?
Photo credit: Tooth-Brush
Tags: business model, Dr. Roemer, small business, small business in recession
Woof! Arf! Yip!
I am not ashamed to admit that I am a Chihuahua freak. We have two Chihuahuas and I love them both. I loved the movie “Beverly Hills Chihuahua,” especially the part where Chloe, the spoiled little rich-girl Chihuahua, gets lost in Mexico and ends up with a group of native Chihuahua dogs. These native dogs teach little Chloe, who can’t even yip to save her life, to find her bark. They teach her to express herself powerfully and in a way that is uniquely Chloe.
I love that part of the movie. I also know that “finding your bark” is one thing that many entrepreneurs and small business owners haven’t yet done. Your “bark” is your unique voice. It’s the way you express yourself and promote your business that makes you stand out from the crowd. In a time when people’s buying loyalty is at an all-time low, having a unique bark can help your small business not only retain its current customers but attract new ones.
The Man Registry
I recently stumbled onto a great website called The Man Registry. This website is devoted to grooms and helps them figure out what they need to do for a wedding. Truth be told, the website is for “stupid grooms,” a category into which many men fall. Unlike giddy brides, most grooms don’t get all excited about writing their vows, picking out items for the gift registry, or (heaven forbid!) doing the seating arrangements.
Nevertheless, grooms are required to participate in wedding planning in some form or fashion, and The Man Registry helps them do it with style and panache (and lots of humor). Here are just a few of the unique features offered on the site:
- Ask the Experts: Smart Answers for Dumb Grooms
- Groom 101: Stand Out
- How to Write Your Vows: A Game Plan
- Wedding Pranks: Get the Groom
- Wedding Night Sex: Hot or Hype?
The Man Registry also offers the chance to win a jumbo 64 oz. flask when you create a registry on the site. Finally, the site has a blog where big shots in the wedding industry regularly post tips and trends that grooms will want to know about. The Man Registry clearly has found its unique “bark” in the field of wedding planning.
How Can You Find Your Bark?
How can you find your bark? There are all kinds of avenues. The Man Registry obviously uses humor to attract people, and then follows up with truly practical and useful information for dumb grooms. Sixty-five percent of their promotional budget is pitched toward men but the remainder is aimed at women who want their grooms to be halfway intelligent. So humor is one way to have a unique bark. Here are some other ideas:
- telling stories and offering real case studies
- making use of sarcasm and ridicule (check out Despair, Inc.)
- offering jokes and humorous videos
- giving out tips list (knowledge in bite-sized chunks)
- using a theme (one site uses all Jedi-terminology to sell consulting services)
- posting innovative photos and graphics (one site uses cat postcards)
Questions for Small Business Owners Who Want to Find Their Bark
One way to discover your bark is to ask yourself, “What is the base premise of my business?” For The Man Registry, the base premise is that grooms are not the most intelligent wedding participants. The humor for the site flows from that base premise.
What’s the base assumption for your business? What important problem does your business solve? What questions do your services answer?
Now can you find your bark?
If you liked this post, please Share It by clicking one of the links below. Thanks!
Photo credit: Chihuahua_02
Tags: finding your voice, small business questions, the man registry
