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By Bill Gormley Acquisitions and mergers are a part of business – especially for a small company. Let’s say you’re a small company with a GSA Schedule contract and you’re bought by a larger company, or merged with another small company. What happens to your contract? This is an important question not only from the perspective of continuing to do business with the government, but also from the perspective of continuing to get paid by the government. Here are the rules, according to Carolyn Alston, General Counsel at...
I travel every week, and I often schedule a car service to go to the airport. The last several times I’ve gotten the same older gentleman who is charming without being over-bearing with conversation. (I don’t like too much chit-chat.) When we get to the airport, I ask “What do I owe you?” Each time I get the same response, “Pay me whatever you like.” I thought he was joking at first, but when I asked him again and got the same answer, I realized he was serious. I...
Former president and military strategist Dwight D. Eisenhower said it best: “The plan is useless; but planning is essential” And that’s as true for businesses as it is for armed combat. Whether or not you need a formal business plan document for your business, you can always benefit from good planning. This post is about five principles of good planning that can help every business. Including yours. 1. It’s about results The purpose of business planning is better business: More money, better management, teamwork...
Did you know that over 65% of all small businesses use credit cards on a regular basis but less than 50% of those cards are actually in the business name? Are you putting your personal credit and personal assets at risk too? Let’s review some of the most compelling reasons why you should apply for a business credit card for your company. First, co-mingling personal resources like credit can jeopardize the protection of the corporate veil. If you believe you are fully protected because you are incorporated think again! The alter ego...
Sales today often hinges on a website. You need some sort of presence online to participate in the many marketing channels available. While you can build a site or page within Facebook or other walled gardens, as they are often called, your best strategy will entail having your own presence directly on the Internet. Various studies from sources like eMarketer, Selling to Small Business, and other authorities show that approximately 50 percent small business owners either do not have a website or dislike their website. I started to ask clients...
Marketing is crucial for small business owners. But all too often, we approach marketing in a haphazard fashion, adding a new element to our marketing mix “on the fly” without stopping to think about whether it makes sense for our overall business goals. It’s great to keep your marketing fresh and up-to-date by marketing your business in new avenues. But if you don’t take the time to assess each part of your marketing mix and how it fits into the larger scheme of things, you could be wasting time and money—and not...
Small businesses that move from one state to another probably won’t face the kind of *problems that Boeing, headquartered in Washington, is currently experiencing in trying to open a new plant in South Carolina. However, small businesses still have an array of legal and practical concerns that need to be addressed when they relocate. Why relocate? There are some compelling reasons to move from one state to another. Maybe you want milder weather. Maybe your significant other takes a job across the country. Or maybe you have...
At the Ohio Small Business Development Center we conduct numerous training sessions throughout the year to educate small business owners on various business topics including strategic planning, marketing, successful selling and product commercialization to just name a few. Yet of all these, and the ones I haven’t mentioned, undoubtedly the most important element of business development is the market research we cover in our basic business 101 overview. Here Michael Bowers, Regional Director of the Ohio Small Business Development Center...
Women-owned businesses have always had a place in the world of government contracting. Earlier this year, however, the Small Business Administration (SBA) implemented a new program that is designed to provide more contracting opportunities for women-owned businesses. As of April 1, 2011, agencies may now set aside contracts specifically for women-owned small businesses (WOSB) and economically disadvantaged women-owned small businesses. According to the Federal Acquisition Regulation (FAR) amendment,...
In 2011, the savviest business people know that visitors like to recommend and share content with their own networks. So I have two questions for you: Does your website or company blog have buttons on it to give readers a way to share your content on social media sites like Twitter, Facebook or LinkedIn? Give yourself a big pat on the back if it does. When was the last time you changed those social sharing buttons? If you haven't changed them in over 6 months, then it's time for a tune-up. You see, the whole world of social...
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by AshleyC, Community Moderator on Wednesday, July 20, 2011 - 17:00