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This week’s small business news review found that Wix will now offer Google apps, a new report on small business ownership, a government “oversight” in making payments to small contractors, new ways to recruit talent, and the status of a subscription-based razor blade company after one year.

• Help Wanted 21st Century Style Recruiting talent has flip-flopped with the adoption of social media, notably LinkedIn. Now, instead of putting an ad out and waiting for responses, small biz owners comb social sites first to find viable candidates. From executive level to front line workers, employees are being aggressively courted through technology.
• US Gov’t Short-Changing Small Businesses?         Small businesses that contract with the federal government have been missing out on fees due to them from the General Services Agency. Now the agency owes over $3MM as a result of incorrect cancellation fees.                                
• What Makes Small Businesses Thrive?                   If you think entrepreneurs go into business for themselves for the money, you’d be wrong. Emyth’s 2013 State of the Business Owner report reveals the primary motivator for self-employment and some myths behind the way small biz owners grow and thrive against larger competitors.         
• Wix Becomes Google Reseller       The free website builder, widely used by small business owners, will begin offering low-cost Google cloud apps. Entrepreneurs with a Wix website can upgrade social media capabilities, chat functions, file management, and more.

Cheeky Entrepreneur          What started as a wise-cracking video about a monthly razor blade subscription has turned into a 10-million-view juggernaut that has attracted almost $10 million in venture funding. The Dollar Shave Club opened with 12,000 orders in its first 48 hours and now employs 24 people.

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This week’s small business news review found the SBA is reducing small business counseling, big banks are lending to small businesses again, Google is getting into the lending game, an entrepreneur turns a rude encounter into cash, and what it takes to turn your small biz into reality show gold.

• Big Banks are Lending    Large lenders like Bank of America have been approving slightly more small business loans than in the past. “Big lending” is up 6% over last year from banks with over $10 billion in assets. Smaller banks are lending more aggressively as well – approving over 50% of small biz loan applications in April.
• Search Google For a Loan            Lately Google has been investing an alternative lenders who finance small businesses not eligible for a loan from traditional banks. After leading a $17 million investment round for On Deck Capital last week, the search engine giant is putting up a significant portion of a $125 million round of funding for peer-to-peer lending site, Lending Partners.     
• Turning an Unpleasant Experience into Cash       A Colorado woman , inspired by an encounter with a rude patron at a local eatery, began a campaign to encourage others to be nice to one another. Starting with a t-shirt she wore to a homeowners association meeting, Kris Wittenberg has built a “social experiment” slogan into a niche business.
• Is it still the SBA?                If you’re looking for counseling from the Small Business Association and your company has less than 50 employees, look elsewhere. In an effort to stimulate economic growth, the SBA is pushing a new training program for entrepreneurs managing mid-size companies. But it’s cutting back on support for small businesses.
• Small Biz Reality Stars            Think your business has what it takes to be the next “Pawn Stars” or “Duck Dynasty”? Small businesses are becoming targets for reality shows broadcast on networks from the History Channel to OWN. Find out what producers look for.

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This week’s small business news review found that new premium rate requests are shocking small biz owners, the latest jobs report may indicate improvement, protecting personal assets should start early, small businesses have access to capital concerns, and one company’s effort to broaden its marketing.

• Small Biz Access to Capital           Where are small biz owners finding capital these days? Is access to capital still providing a stumbling block to growth? For those struggling to find money, what are the impacts on business? Check out this infographic, which provides some quick answers to those questions.
• Protecting Personal Wealth From Business Liabilities      As small business owners build personal wealth, asset protection becomes a challenge. Liability insurance and asset protection plans provide some protection but, from a legal standpoint, there are conditions that still put personal assets at risk. There are some fundamental practices every entrepreneur should follow to protect personal assets from business risks.
• Potential Insurance Costs a Big Concern     Small biz owners are anxiously awaiting new rate quotes from insurers once the Affordable Care Act kicks in next year. Many have withheld hiring, investment, etc. Concerns range from being able to offer coverage to all workers to whether available coverage will be adequate.
• Economy Improving?       The jobless rate fell to its lowest level in five years, according to Friday’s jobs report. Economists were looking for an increase. Are the latest results a sign that the US economy is continuing to steadily grow?
• Pay Raise for Tattoos      In an effort to broaden its branding, one realty company is offering a unique way to increase exposure. So far, 40 employees have signed up for it.

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There are so many facets to running a small business that sometimes even minor tasks chew up valuable time. Thankfully our digital business world provides many solutions to traditionally time-consuming activities. Sure, outsourcing certain tasks is an option, but many entrepreneurs are DIY mainstays so they’re often looking for digital tools to help run their businesses. If you are a do-it-yourself small biz owner there are five tech tools that you should include in your arsenal.

Business Plan Tools

To be successful and manage growth effectively you should have a written business plan. Whether you need a business plan template or fully-interactive business plan software, many of the options available should provide all the necessary components to get a startup off the ground or help get financing for existing businesses. Most of the software programs provide calculators help compute important figures such as break-even point or tax calculations.

Document-to-Cloud Scanner

As data storage moves from local servers to the cloud, filing printed documents has gotten easier. There are several digital filing products available that can be used to scan receipts, invoices, and other paper documents. To store digital copies in the cloud requires a service such as Google Docs or Rackspace. At the office you’ll need a scanner to convert printed documents and upload the digital version to a cloud storage provider. Cloud storage of your paper files saves space and provides easier document management.

Webinar Services

If market education is part of your marketing strategy, webinars can be very useful to engage your prospects. Small companies can deliver a large impact through the use of webinars. With the ability to present materials and engage with a global audience, small biz owners interact with their markets more efficiently and effectively. Several of the highly-rated webinar providers allow audience members to provide feedback that can be used to develop future webinars.

Virtual Meeting Host

Today’s small businesses interact with clients, partners, and other stakeholders in distant locations. Travel costs can be avoided by conducting meetings online. Webex, GoToMeeting, and other virtual meeting hosts provide screen sharing, VoIP, data sharing, and other interactive features that put you in front of stakeholders and allow seamless verbal and digital communications.

Project Management

Efficient file sharing capability can be essential for small companies that use remote professionals like programmers, website developers, and virtual assistants. Files can be shared through cloud storage providers for non-regulated businesses or onsite servers for companies that must follow regulatory guidelines. Planbox and other software-as-a-service (SaaS) providers help small biz owners manage work flow, assignment distribution, and task progress. Some programs also integrate social media and private messaging.

Today’s small biz owners have advantages that allow them to compete with larger competitors. Although implementing these tech tools may require a learning curve when first using them, once you’re comfortable with these tools, you’ll spend less time managing routine activities and more time thinking of ways to grow your business!

Disclaimer: Motoza does not represent nor endorse any of the products or services mentioned in this post. We encourage readers to investigate available options prior to purchase.

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This week’s small business news review found a multi-million dollar fashion icon emerging from her garage, Google is dropping its affiliate network, the economy is stalling new businesses, companies may increase part-time workers, and companies that avoid I-9 requirements are hurting small biz owners.

• Improving Economy Stalling Startups     The recently released Index of Entrepreneurial Activity revealed fewer startups last year. The Kauffman Foundation, which conducted the study, believes the improving economy is suppressing small biz openings because of a greater number of available jobs.
• Bikinis Go From Vulgar to Elegant            From “scraps of used cloth and sliced cow bones” to 30,000 bikinis per month, a Brazilian entrepreneur has taken fashion swimwear by storm. Stars from Nicole Kidman to Lady Gaga have worn her. One-time landscape architect Lenny Niemeyer is now the name to know in Brazilian fashion.
• Is Obamacare Creating a Hiring Dilemma?           With the new rules expected to hit companies with 50 or more ‘full-time’ employees next year, some near-threshold businesses are considering a shift to hiring more part-time employees. But the consequences associated with part-time work are creating a dilemma for those companies that want to hire this year.
• Google Shuts Down Affiliate Network – Again       The search engine announced it will be closing its Google Affiliate Network “over the next few months”.  The move has surprised some but not all digital advertising experts. The company prefers to work directly with merchants as the digital advertising market changes.

I-9 Cheaters Get an Edge When Hiring        Companies hiring illegal immigrants are finding it easier to survive than those that follow the rules. “Unless we fix the immigration system, small businesses are going to continue to operate at a disadvantage with companies that aren’t following the law,” says one small biz advocate.

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Looking for another way to get noticed digitally? Foursquare provides a geo-centric social medium that can be used to strengthen existing customer relationships while cultivating new ones.

Retail, personal services, and food & beverage industries are a good fit for foursquare’s technology. The site’s appeal is in its local search functionality. Small business owners can use it as another cost-effective social media tool in their marketing efforts. Foursquare can be used to map your business, announce a new product arrival, connect customers through friend-linking, and build loyalty through the site’s features. The site’s mapping capabilities, similar to Google Maps and others, displays your ‘location’ on a local map alongside a listing of nearby businesses when a search term is used.

Provide Updates

Small biz owners can post updates on their foursquare account. Users who have previously checked in to your location or who are visiting your location via foursquare for the first time can view announcements, events, special offers, or even funny anecdotes. Providing updates accomplishes two marketing objectives: 1) keeping your market informed about your business and 2) providing exposure through convenient, timely notifications.

Offer foursquare Specials

The site provides exclusive promotional opportunities through its Specials feature. Small businesses can offer users unique promotions when they check in to your location. Users unlock a Special through a foursquare check in which boosts your location’s virtual presence. Specials can be one-time offers such as a daily 2-for-1 deal or can build loyalty such as a free product after ten ‘check ins’.

Announce Your Mayor

Publicly acknowledge the foursquare visitor who checks in to your business most often (called a ‘mayor’). Post the announcement on your Facebook page and tweet it to the world. You can boost your appeal by acknowledging your customers, encouraging others to sign up on foursquare, and recognizing a loyal customer.

Use Tips and Comments as a Guide

Users can give ‘tips’ to friends and make general comments about your company. Take the time to routinely view visitor posts. What are you doing right? Which products are perceived negatively? Monitoring user activity can be a valuable source of customer feedback. Small biz owners can use agile marketing strategies to modify messaging, promotions, and other marketing components to respond to market behavior.

Foursquare users can search for specific specials, leave comments or tips, and link with friends – all of which provide engagement opportunities with your customers and prospects. Find effective (or unique) ways to generate check-ins. The more check-ins your business receives the higher visibility  your location will achieve. Business owners can also advertise through foursquare. The site has opened a pilot phase for several ad products. This feature may not be available to all businesses; we encourage you to learn more through the website.

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This week’s small business news review found small businesses seeking the right customer relationship management (CRM) product, one company’s lead generation strategy, positive vibes from small biz owners is slowing, small business loan funds went to repaying TARP, and the Federal SHOP program will be delayed.

• Small Biz Optimism Declines – According to the National Federation of Independent Business (NFIB), March showed a decline in the positive outlook of small business owners. Although job creation entered its fourth consecutive month of growth, six of ten survey categories decline or remained unchanged. Most notably, only 4% of owners surveyed indicated that now is a good time to expand facilities.
• Small Companies Look to CRM Technology – Today’s small businesses are looking for ways to better manage customer and prospect relationships. Technology is providing answers but not every CRM platform is a fit for small companies. Customer support has become an important differentiator.
• One Approach to Solving the Lead Generation Question – Way to – Small business owners are concerned about higher wages in the wake of President Obama’s State of the Union pledge to raise the minimum wage. Some are looking at tablet technology to lower the impact of higher labor costs.
• Banks Used Small Biz Funds to pay TARP – A government watchdog group released a report revealing 137 community banks that used taxpayer funds aimed at stimulating small biz to repay the Troubled Asset Relief Program bailout debts. The Treasure authorized $30 billion to extend loans to small businesses. Only $4 billion was spent but $2.7 billion went to banks that turned around and used $2.1 billion to repay high-interest debt.
• Small Biz Insurance Program Delayed – The Small Business Health Options Program (SHOP) was due to begin in October but the Obama administration just announced plans to delay implementation. The program, intended for businesses with 100 or fewer employees will now start next year.

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By now you’ve heard about Twitter. We recommend using Twitter as a small biz tool for most industries. Statistics show increased Twitter use by consumers and B2B buyers for pre-buy research over the past three years. As a marketing channel, Twitter can be used to build brand awareness and engage prospects.

If you’re considering the use of Twitter in your small business marketing, check out these strategies to help make this medium work for you:

• Listen  Read user posts to find comments about anything related to your company, industry, product or solution, etc. Review comments to identify underlying trends or market opportunities. Effective messaging points in marketing campaigns can be found through Twitter.
• Participate ⎼ Answer a question, respond to a comment, or provide a resource. Providing genuine assistance with prospect needs or customer issues through Twitter can build a connection with prospective customers and strengthen relationships with existing customers.
• Advocate ⎼ Announce any connections with social causes through Twitter. Tweet about the company’s involvement and share event details. Cause marketing works through many channels and Twitter is no exception.
• Promote ⎼ Announce contests, sales, or other promotions. Special events work well on Twitter because of its quick updatability. One strategy that works is to post unique details about an event or cause through several tweets, which will allow to connect repeatedly with fresh information.
• Share ⎼ Share your customers’ experiences. Post various details over a few tweets about your customers’ buying experience, user experience, and satisfaction levels. Better yet ⎼ link with satisfied customer accounts to connect with potential buyers through their social circles.

Like other marketing channels, Twitter has strengths and weaknesses but, for the right audiences, it can be a valuable marketing asset for your small business. Give us a call or drop us an email to find out how Motoza can build your company’s brand through Twitter.