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Selling Imported Goods within the U.S.; Get Started with this Small Business Checklist
Caron Beesley
Post date: 11/12/2009 - 09:07

Selling imported goods within the U.S.

can be a lucrative business opportunity. High demand imported products such as

artisan crafts, furniture and even food and beverage products such as olive

oils, wine, etc. represent a significant market opportunity for savvy business

owners. Margins of up to 700% can be lucrative indeed.

If you are interested in importing and

selling overseas goods into the U.S.

market - whether you are actually based in the U.S.

or not - you will need to do your research regarding both the country of export

and the country of import (the United States).

Here are some business and regulatory

tips to guide you through the process of selling imported goods in the U.S.

Before

you Do Anything - Check Import Rejection Laws and Trade Barriers

In addition to determining the market

opportunity for a particular product or range of imported products, be sure to

check U.S. trade barriers

and local in-country laws to be certain that you can actually export your

chosen goods out of the country of origin into the U.S.

While the U.S. is very import friendly, it

does have stringent safety and quality controls that don't exist outside its

borders. Likewise, foreign nations sometimes restrict the export of religious

ornaments, rare or protected goods. For example, certain animal by-products

such as furs and ivory as well as fake designer goods are banned or are

governed by export restrictions.

Read about import goods rejections and

trade barriers on Export.gov here. If you wish to import or sell

agricultural products into the U.S.,

the Food Safety and

Inspection Service provides a checklist and other information to help you

comply with the laws that govern the import of meat, poultry and egg products.

For more information about trade

agreements, refer to this guide on

Business.gov.

Formally

Set up Your Own Business

Consider formalizing your business

entity before you start pursuing importing opportunities and engage in any

regulatory practices. Read these 10 Steps to

Starting a Business for a step-by-step guide to the planning, financial and

legal steps involved in starting a business.

If you are a foreign national and plan to import and do business in the U.S., read Starting a Business in the U.S. as a Foreign National for guidance on tax and legal obligations.

Build

Relationships and Network on the Ground in the Export Country

As with all wholesale procurement, you

will want to meet and greet with the producer or distributor of the product(s)

you will be selling. Try to establish whether the company you are dealing with

has export experience, and request references. Refer to these resources for Doing Business

Abroad

to ensure your business travel is well planned.

Consider

Hiring a Customs Broker

Many people who are in the business of

importing goods into the U.S. choose to utilize a customs broker to help

facilitate the laws and regulations that apply to your business, including

licenses, taxes, duty fees, etc. A customs broker prepares all the documentation

needed for importing goods,

just as a freight forwarder does for exporters. You can read more about customs

brokers here. You can also search

for a certified customs broker at the *National Customs Brokers and Forwarders

Association of America.

Check

Whether you Require a License or Permit to Import Certain Goods

Many imported and exported products are

regulated by federal agencies. If you import or export any of the types of

products listed by the government here, you may be

required to obtain specific licenses and permits or complete additional

paperwork (the link also provides information on how to get the appropriate

licenses and permits). A customs broker

can also help with this aspect of importing goods.

Selling

Imported Goods - Retail and Distribution Options

How will you sell your imported wares?

There are a number of options from re-selling your products to niche

independent stores to selling direct at fairs, festivals and markets (get tips

on starting and operating a concession stand in these two posts - part 1 and part 2). You can also

set up your own retail store. Read How to Start a Retail Business - A Step-by-Step Guide for more

information.

Online retailing or 'e-tailing' is a

useful option if you happen to be based outside the U.S.

and wish to sell to the U.S.

market. But be sure to set up your site using a U.S. domain and host it on a U.S

server. Read Starting and Growing an Online Business: An Entrepreneur's Checklist for tips about

starting an online business operation.

Additional

Resources

*Note: Link directs reader to non-government Web site.

Going Beyond the Shot Gun Approach; 5 Tips for Optimizing Your Non-Profit’s Fundraising Efforts
Caron Beesley
Post date: 11/10/2009 - 08:52

Raising funds to support the

philanthropic mission of any non-profit organization can be a time consuming

chore often fraught with trial and error.

While splashy one-off fundraisers

(otherwise known as 'episodic funding') can generate a large chunk of

charitable change they can also consume much needed resources for months on

end. At the other end of the spectrum, 'ongoing' fundraising tactics, while easier

to execute, oftentimes don't generate the required financial rewards.

To succeed in

fundraising, your non-profit must diversify its efforts to strike a balance

between episodic and ongoing fundraising activities that ensures multiple

streams of income for the medium and long term. This means having a long term

plan.

Consider

these five tips and tactics for optimizing your non-profit's fundraising activities:

1. Tell Your Story - Create a Case Statement

Much like a

business elevator pitch (only longer), a case statement is a brief one or two

page document that clearly informs potential donors about who you are and how

their donations to your cause can make a positive difference. It is the story of your cause, and the part

played by your donors to support that cause.

Your case

statement is a useful tool for focusing your message and objective,

particularly when communicating with new donors - especially those who have a

history of philanthropy and know what they are looking for in terms of a

compelling and emotional cause. It can also be plugged into campaign messaging

and in-person solicitation efforts.

According to *Enterpreneur.com, your case statement should

address why you are in business, what outcomes you anticipate, how your

organization is different, how you intend to achieve your goals, and what major

accomplishments your non-profit has achieved. It should also include the

history, philosophy and financing basis of the organization.

2. Target Your Marketing - Start with your Network and an

Understanding of its Motivation

Some very

basic marketing planning can help you zoom in on the right donors and avoid a

shot gun approach to your fundraising efforts.

Start by

building a picture of your current personal

network - your sphere of influence. This will likely include early

volunteers or board members. Next, determine what it is about your cause (the motivator) that appeals to them and

to their demographic. Using this profile data, develop a strategy for reaching

other potential donors outside this early 'inner circle'.

The tactics

you employ should be repeatable and reusable as your sphere of donors grows. Be

sure to assess the success of your approach and re-visit your strategy

frequently to ensure you are on track with your goals.

3. Write a Fundraising Campaign Plan

Assuming you

have written a business plan for your non-profit, drill down one step further

to develop a fundraising campaign plan for the year ahead. This is an

invaluable exercise in ensuring your tactics are aligned with your goals as

well as your available resources.

Be mindful of

your target market as you write your plan - your best bet for securing funds

from donors is to restrict your episodic fundraising activities to two to three

campaigns per year. More than that and you risk alienating your supporters with

too many contribution requests.

Don't forget

to plan out your strategy for ongoing initiatives too - this will include

everything from cause marketing activities to grant solicitations to

maintaining newsletters, attending and exhibiting at events, and other

brand-building activities.

(Read my earlier post - Tips for Finding the Right Blend of Funds for your Non-Profit - to get a picture of the role played by episodic funds and ongoing

funds in your non-profit business plan).

4. Understand the Role of Social Media

From Facebook

and Twitter to blogging, it's hard to ignore the potential of social media as a

low cost tool to support the fundraising and outreach activities of

non-profits. But take time to understand how it can fit with your goals and the

time investment. And, develop a plan for implementation before you start any

online dialog with your potential donors.

Read these

three articles to get tips on your non-profit social media strategy:

5. Leverage the

Resources of Other Non-Profits

Lastly, there are many resources to

help non-profits achieve their fundraising and philanthropic goals, not least

of which are those provided by other non-profits and government organizations

(even those traditionally associated with for-profits such as the Small Business Administration and *SCORE).

*Idealist.org, for example, lets you register your

non-profit and provides access to non-profit resources and information. You can

even create your own Web page, seek volunteers and interns, advertise on the

events page, network in forums, and more. They also offer in-person non-profit

career fairs and other events to help organizations network and grow.

Traditional small business support

groups such as SCORE are also a great resource to help non-profits start and

grow. Find SCORE and other free in-person assistance for your non-profit here.

Additional Resources

Other resources that can help you in

your fund-raising efforts, from sourcing funds to writing grant proposals,

include the following:

  • Business.gov's Non-Profit Organization Start-up Guide - This site collects links to programs and services to help

    non-profits find opportunities available to them from the federal government

    including grants and financial assistance, tax information, government sales

    and surplus, and more.

  • *The

    Center for Non-Profit Success - Here you'll find training and resources to help

    non-profits succeed.

  • *Foundation

    Center - This is a non-profit that connects

    non-profits and grant makers. It also provides resources and advice for

    starting and managing a non-profit.

  • *Writing

    a Grant Proposal -

    From Summary to Budget

  • USA.gov for Non-Profits - This site is the online version of

    what many companies offering CFDA assistance services use to advise their

    clients. It is available for FREE to all who wish to reference it. It has

    specific information for non-profits divided into 3 sections: grants/loans,

    management/operations, and tax information.

  • *About.com

    Non-profit Portal

    - Covering everything from starting up, fundraising, and managing volunteers to

    marketing your non-profit, About.com's Non-Profit Guide is an invaluable and

    resource-rich Web portal.

  • *Non-profit

    Guides

    - This site provides free Web-based grant-writing tools for non-profit

    organizations, charitable and educational organizations, public organizations,

    and other community-minded groups.

*Note: Hyperlink directs reader to non-government Web site.

Message Edited by CaronBeesley on 11-10-2009 07:52 AM
Thinking of Starting a Blog? Tips to Help You Start, Maintain & Grow a Small Business Blog!
Caron Beesley
Post date: 11/03/2009 - 08:57

The online social media revolution that

has bought us Facebook and Twitter actually started back in the late 90's when

the term 'blog', short for 'weblog', entered the lexicon.

Since then the activity of blogging has

exploded and it was in May 2005 that BusinessWeek

proclaimed that *Blogs Will

Change Your Business. They certainly have.

Why

are blogs important for your business?

Blogs provide business owners with

unprecedented ways of reaching and engaging with large audiences in a way that

the traditional one-way information push of a company Web site could never do.

Not only this, but blogs can help put a

human face to your business while showcasing your knowledge and passion for

your chosen field. For example, restaurant owners can share recipe secrets.

Just about anyone from a landscaping business to an IT security company can

share tips of the trade that connect them with their customer base.

And unlike the static content of a

business Web site, blogs are collaborative and invite comment - a great way to

engage with and solicit feedback from your customers!

Blogs can even be lead generating. I

read and monitor blogs religiously and have nurtured leads and networked with

businesses that I would not have known existed, had it not been for the viral

marketing effect generated by their blogs.

Of course, if you are thinking of

starting a blog you need to have an underlying strategy in place to ensure it

is a success. Here are four things to

consider before you enter the blogosphere:

1. Identify a Purpose,

Goal and Intention for your Blog

While you

obviously want to promote your business, don't be over-promotional in your blog

content strategy. Decide early on what you want to accomplish with your blog -

and this should drive your content.

Most blogs are

typically centered on positioning businesses or business owners as thought

leaders in their space or for sharing information and tips that readers find

useful. For other ideas on how to shape your blog strategy, including the use

of case studies and interviews, take a look at this article - '*5 Winning Post

Ideas for Your Small Business Blog' - from *OPENForum.com.

Once you have

defined your goal, be sure to adhere to it. Consider publishing your blog

objective on your blog home page. For example, the objective of a hypothetical

company - JJ's Landscaping Services - might be to provide tips that help consumers

maintain a thriving garden in all seasons, which could be summarized and

published as:

The

Better Garden Blog

Tips and Tools from our team of experts

to keep your garden looking its best year round!

2. Getting Started

- Blog Software

Once you have decided

to start blogging, you will need to consider the software options available for

hosting your blog.

Many social

media experts advise businesses to be wary of some of the free blog tools

available, since their basic features don't offer integration with existing

business Web domains or allow for brand customization.

Truth be told,

however, if you are just getting started with a blog, free blogging software

can be a cost-effective and easy solution for many small businesses. If your

blog does take off down the road, you might want to consider migrating to blog

software that is installed on your domain and integrated with your Web site.

And don't forget to devise a communication plan to let your readers know that you

are moving hosts!

3. Commit to Blogging

Regularly and with Relevance

There are two

tell tale signs that a blog has lost its way - no posts for two weeks or more,

and content that has veered off course. Neither will give a favorable

impression of your company.

If you can't

commit to posting at least 2-3 times a week, then blogging is not going to work

for your business. And this is something to consider before you even start your

blog. A good way to keep posts regular is to share duties with others. This

also adds a diversity of voices.

Having an

editorial calendar can also keep you on track. Written in advance (for the

coming month or quarter), an editorial calendar should include not just the

working title of upcoming posts, but a summary of the objective of each post

too. Also include hyperlinks to other resources that can help you craft your

post quickly and efficiently when it comes time to write.

Don't forget to

include placeholders for topical posts that spring up at the last minute. For

example, in the case of our hypothetical company - JJ's Landscaping Services -

topical posts that address current issues such as protracted weather conditions

can keep your blog relevant and compelling.

4. Develop a Plan

to Generate Traffic to your Blog

Last, but by no

means least, generating traffic to your blog is critical. The trouble is, many

bloggers either do nothing to leverage the tactics available to them, or they

go overboard and saturate their blog pages with links and social media icons to

drive inbound traffic.

There are many

traditional and non-traditional ways to drive traffic to your blog - from

ensuring you have RSS feeds built in to adding a link to your blog from other

customer touch points such as your email signature and main business Web site.

This article

from *Louis Gray - '*10 Pointers for

Generating Traffic to Your Blog' - is essential reading to get any blogger

started in thinking about ways to promote their blog content and drive inbound

traffic.

Happy blogging!

Additional Resources

*Note: Hyperlink directs reader to non-government Web site.

Message Edited by CaronBeesley on 11-03-2009 08:02 AM
Why Your Business Needs an Elevator Pitch (and Tips on How to Target it to your Audience)
Caron Beesley
Post date: 10/29/2009 - 07:57

Whether you are on a trade show floor,

making a sales pitch, or seeking investment, perfecting your elevator pitch can

be one of the most important things your business can do. From the moment you

start-up (when no one has ever heard of you), having a well rehearsed and

compelling elevator pitch can help buyers, clients and potential investors get

to know you quickly.

More than simply explaining your

product, industry, or 'big idea' a business elevator pitch is essentially how

you speak about your business to others in a way that engages and excites.

As business expert Chris O'Leary

states, '...an effective elevator pitch is

designed to give the audience just enough information that they will have a

sense of what you are talking about and want to know more.' (*www.elevatorpitchessentials.com)

Adapt

Your Elevator Pitch to Suit Specific Audiences

A savvy entrepreneur should be prepared

to develop and modify their elevator pitch to meet the needs of the audience

they are engaging.

If, for example, you are pitching your

product to a passerby at a tradeshow booth, you will need to craft quite a

different pitch than the one you would deliver to a potential lending

institution or investor who will quickly weed out ill-prepared and poorly

planned business ideas or propositions based on an elevator pitch alone.

Three

Elements of an Effective Elevator Pitch

To help prepare your elevator pitch

(whether to secure investment for your business or to communicate your sales

proposition) you need to take a three-step approach and address these key

elements of your business:

1. 'What is the problem or 'pain' in the marketplace that your

business addresses?' A good way to

address this element is to ask a question. For example:

Did you know that the average small business wastes

approximately $1,250 in energy costs each month simply because electronic

assets are left to operate on maximum power 24 hours a day?

2. 'How does your business or its product solve this problem?' And, in this

case, the (purely hypothetical) answer might be:

With our patented energy usage monitoring system - ElecTrack

- business owners can monitor energy consumption across all their electronic

assets and remotely deactivate non-business critical equipment and appliances

when not in use.

3. If you are developing an elevator pitch to help communicate

your sales proposition, you should ask yourself: 'What is the main benefit you give?' For

example:

ElecTrack can help you save thousands of dollars a year on

your business utility bills.

Alternatively, if you are seeking investment in your

business the third element should be - 'What do you need to bring your solution to reality?' For example:

We need $1.2 million in funding to get to

the point where the company is self-sustaining. This should happen during the

third quarter of our second year. For the purposes of start-up, we're seeking

$500,000 of initial funding. I am the CEO with 12 years senior sales and

business development experience in the energy efficiency sector. Our Technology

Director has 20 years of electrical engineering and software development

experience and has led the development and patenting of ElecTrack. If we hit

our numbers, we expect to expand our market base into Europe and Asia, within three years.

For specific help on creating your

elevator pitch for investors, take a look at this You Tube *video clip from business

planning expert Tim Berry. He provides tips on how to craft your pitch, what

your goals should be, and perhaps most importantly, what your investors want to

hear.

Get

Feedback and Practice Your Pitch

Another element in the process is to

get feedback on your pitch from fellow stakeholders, employees, or someone not

as close to the business as you are. Modify your pitch based on this feedback,

and then rehearse and familiarize yourself with it. This absolutely involves

reading it out loud. As a goal, aim for delivering your pitch in 30-45 seconds,

longer than that and you'll need to head back to the drawing board.

You could also try writing key words or

phrases from your elevator pitch on a prompt card that you can pull out before

meetings to refresh your memory.

Additional

Resources

  • *Developing an

    Elevator Pitch

    - Links to more resources as provided by the New York State

    Small Business

    Development Center

    (NYS SBDC).

  • *Effective

    Elevator Speeches that Leave a LastingImpression

    (SCORE)

  • Business Planning Tutorials from Business.gov guest blogger and business planning expert Tim Berry

  • Small Business Marketing Guide from

    Business.gov

    - Tips, tools and lots of information to help you market your start-up or small

    business.

  • How to Write a Business Plan

    - From free training and templates to business planning guidance, these

    resources are specifically designed for small business owners and

    entrepreneurs.

*Note: Hyperlink directs reader to non-government Web site.

Message Edited by CaronBeesley on 10-29-2009 08:04 AM

Need Help Starting a Business? Get the Right Kind of Advice & Take Control of Your Start-Up!
Caron Beesley
Post date: 10/27/2009 - 08:11

'I need help starting my business!' - is a common cry from many budding small business owners.

And it's no wonder. Starting a business is a huge step for any entrepreneur to undertake, and requires careful planning as well as business smarts and the right advice.

While there are many useful online resources for businesses to help with start-up planning, preparation and management - including this one from Business.gov, '10 Steps to Starting a Business' - there is nothing quite as valuable as in-person assistance.

This can take many forms, from the counseling and resources provided by organizations such as *SCORE and Small Business Development Centers (SBDCs) to the small business assistance offered by local SBA Offices.

If you are starting a business, you should also consider seeking out specialist advice and help for three key business functions:

1. Tax and Accounting

2. Marketing

3. Business Administration

Why? Simply because these are often overlooked at the outset and each have a strategic part to play in the planning and growth of your business. They are also functions that many start-ups either don't have the know-how or time to commit resources to.

That's why getting your arms around each of these functions early on, with the help of specialists in each of these areas, can put you in control of your business and competitively positioned for success.

Here are some pointers to help you source the right kind of help.

1. Tax and Accounting Advice

I doubt there are many small business owners - whether they are independent contractors, home-based businesses, or employer firms - that enter business understanding their tax obligations. It is critical that you seek independent tax advice from a specialist.

Many variables affect your taxes - from the way you structure your business, to where you work, and whether you employ help.

Consulting a tax specialist early on in the start-up process will save you headaches over time.

The good news is that it needn't involve a significant amount of upfront expense. Many tax specialists will offer an initial consultation free of charge (with the hope of winning your business over the long term). This can be a great resource for start-ups who just need some initial guidance - at zero cost. Check your local business directories for small-business tax specialists in your area and give them a call. You'll be surprised to find how amenable and helpful they can be.

Read more about small business taxes and resources that the government provides here.

Likewise, it's worth consulting an accountant. Why? More than just a bookkeeper or manager of your finances, a good accountant can provide solid financial advice to help you steer your business in the right direction, guide you on managing risk, tax planning, as well as provide advice on personal finance management. Read '*How to Choose an Accountant for your Small Business' from *www.gaebler.com for great tips on why you need an accountant and how to find the right one for your start-up and future business needs.

2. Marketing Support

Many business owners are reticent about spending start-up capital on marketing when, in fact (for the most part), a higher percentage of your overall business budget should be spent on marketing during the start-up phase than any other time - anywhere between 5-8%.

But if marketing was not your best subject at business school - where do you start? This is another area where expert advice and assistance can help.

There are many options for start-ups when it comes to marketing support, that needn't break the bank. You might just want to work with someone who can give you the outline of a marketing plan that you implement yourself; or, you can engage with someone who can plan and implement a marketing strategy. Whatever your needs, here are a few you options to consider:

  • Hire an Independent Contractor or Marketing Freelancer - Not hire, as in put on payroll, but seek out the services of a consultant. Contracts can be hourly, project-based or on a retainer (you pay a flat monthly fee and can use their services as needed). The only overhead incurred is the consulting fee and any costs associated with the tactics that you choose to implement.Try to find a contractor who has experience in your industry. The best way to find contractors is through referrals from trusted sources in your community or industry. If you go this route, be sure to read this guide to Hiring Independent Contractors to understand your tax and reporting obligations.
  • Work with a Marketing Agency - Far from being reserved for the big- budgets of larger business, many smaller independently owned marketing agencies can be flexible to most budgets and needs. They often draw on the services of freelancers - which helps keep costs low, and pass the savings on to clients - and because they work with several clients you can benefit from the broader experience of knowing what works in your market. Again, seek out recommendations from your network and small business peers in your industry or community.

Check out this Small Business Marketing Guide from Business.gov for more tips.

3. Administrative Support

Business administration -- from managing your business expenses to maintaining inventory to proofing and formatting your sales pitch in PowerPoint - can be a time-consuming affair that many small business owners could do without.

These demands have led to the growth of 'virtual assistants' (VAs). These are self-employed individuals who use their own office equipment and software to serve you from anywhere between $20-$50 an hour.

They can help start-ups and growing businesses stay on top of the mundane everyday tasks of keeping the administration side of your start-up flowing smoothly, but they can also be drawn on for marketing support - and at a much lower cost than hiring a personal assistant.

Whether you need occasional or ongoing assistance, outsourcing to a virtual assistant can save you money and time - whatever your line of business.

Read this excellent *article by Wendy Maynard that explains how VAs can be the 'savior of small businesses' and find out more about VA s from these associations:

Additional Resources

 

*Note: Hyperlink directs reader to non-government Web site.