Jumpstart Your Business

Very simply put, this represents your life line of support and should comprise the following types of resource: Lawyer: Insurance Broker; Accountant; Major Vendor(s); Business Advisors (SCORE, SBDC); SBA or other government entities;

Pay attention to your competitors and the steps they will be taking in reaction to the economic downturn. Most of your competitors will tend to lower investment in advertising and marketing in tough times when the opposite is the right strategy. Many will downsize and let experienced employees go and this may be a source for you to tap into. They also tend to drop prices rather than create additional value and this may be the place where you can capitalize on their weaknesses..

I am attaching a very interesting article that talks to this topic. Any small business owner who is not looking at networking sites as a way to expend the reach of the business is missing a good bet.

http://forpros.lowes.com/viewArticle.cfm?articleID=1352

The official U.S. Government Link where you can find compliance information, contacts to multiple government sites and forms.

The National Business Association where you can get information on your likelihood of obtaining an SBA guaranteed loan.

The U.S. Census Bureau where you can find population, housing, economic and geographic data.

SBA Online counseling and training for entrepreneurs and startups.

SCORE Free counseling and business plan preparation

Legal advice, forms, contracts and other legal stuff

Are you considering going into business? Do you want to increase your chances of success? Then here are ten tips to help you do just that:

Here is a story about using a web strategy to thrive in this frosty economy. Check out this link for Bristly Thistle

• It enhances the credibility of your business
• It is a good place to create a great first impression
• It gives you a 24 x 7 presence
• You get immediate exposure to new markets
• It levels the playing field, no-one knows how small you really are.
• You can get there before your competition
• It another way to easily grow revenue
• Advertising on the Internet is cheaper than TV, radio or print.
• You have potentially more coverage than with traditional media
• It provides an inexpensive way to give excellent customer service

If your A/R is a significant percentage of your income, you may want to do some further analysis to understand how far out are the accounts - 30, 60, 90 days? Here are some tips to reduce the size of the accounts receivable:

PAU, France (AFP) - The mayor of a French village has issued a decree banning residents from dying in his territory unless they own a spot in the overcrowded cemetery.

• Try to negotiate longer terms for your Accounts Payable (e.g. increase a 30 day window to 60 days)
• Bill customers more quickly (just a couple of days help) so you can speed up the collection process which improves your cash position significantly.
• Schedule accounts payable on a weekly basis to avoid late charges or double billing.