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Online Store Opens First Physical Store

Online Store Opens First Physical Store | Running A Small Business | Scoop.it
Coastal Contacts Inc., Canada’s biggest online eyewear store, is just the latest e-tailer to get physical.
Rick Grantham's insight:

Historically, since the inception of the internet, companies have entered the online market as a way to increase sales and grow their companies.

 

Companies that only sold on the internet never thought about opening a physical store, as the concept contradicted the ideals of the online world.

 

Now, we are seeing online retailers opening physical stores. To be honest, I think starting on the internet is the best way to find out if your idea works. The investment is a lot smaller and if you succeed, then you can think about branching out.

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Running A Small Business
A small business requires extra focus, as owners do not have large-scale resources like conglomerates.
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That special something: Why promotional products work for small businesses

That special something: Why promotional products work for small businesses | Running A Small Business | Scoop.it
Marketing is a hard beast to crack, regardless of which industry you work in and especially for small businesses.  (That special something: Why promotional products work for small businesses.
Rick Grantham's insight:

The truest part of this article is that people are getting accustomed to getting marketed to.  In my opinion, they maybe also become numb to it.  Do you even notice 90% of the ads on most web pages anymore?  Probably not.  You need to be creative to make an impact.

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Drinking The KoolAid At Google's 'Take Your Parents To Work Day' - Forbes

Drinking The KoolAid At Google's 'Take Your Parents To Work Day' - Forbes | Running A Small Business | Scoop.it
Google's latest nod to its Millennial workforce? 'Take Your Parents To Work' Day brings Mom and Dad to campus--and they're very, very impressed.
Rick Grantham's insight:

OK.  This is a first for me.  Never heard of a "Bring you parents to work day".  It kind of stands out.  Indoctrinization?  Absolutely.  But also pretty clever.  What do you think?

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The 2013 Top Ten Technology Trends for Business

The 2013 Top Ten Technology Trends for Business | Running A Small Business | Scoop.it
From big data and cloud infrastructure to scenario modeling and gamification, PwC’s 2013 Global Digital IQ Survey unveils today's crucial business IT trends.

Via ThePinkSalmon
Rick Grantham's insight:

It's time that all entrepreneurs, big and small budgets, tap into the technology that is available.

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5 Tech Solutions For Common Small-Business Problems

5 Tech Solutions For Common Small-Business Problems | Running A Small Business | Scoop.it
By Lisa Wirthman As technology levels the playing field for small businesses, more companies are making the connection between strong IT investment and improved business performance.
Rick Grantham's insight:

I really get tired of reading all the articles about all the problems and pitfalls for small business owners. Like you, I want to read more about quantifiable solutions.

 

This article was recently published on Forbes and Lisa provides both the problem that she has identified along with a solution that is realistic.

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How to Protect Your Product or Idea When Pitching It to a Company

How to Protect Your Product or Idea When Pitching It to a Company | Running A Small Business | Scoop.it

When you're shopping around your ideas, nondisclosure agreements can offer some protection. But they can't guarantee your intellectual property will be safe from copycats.

Rick Grantham's insight:

 

You've thought up a new invention or a time saving technique and you want to bring it to market.

 

You know that you do not have the resources to manage the marketing, distribution, manufacturing, further research and development, so you contact a company to inquire whether they might license the product or buy it outright.

 

But how do you protect yourself? How do you know the company won't take the product and build it themself?

 

How can you prove that it is in fact your product and that it is proprietary?

 

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Understand Your Accounts

Understand Your Accounts | Running A Small Business | Scoop.it
It is important that you understand and can analyse the financial statements of your business so that you can manage and control your finances and make more informed decisions armed with facts, not intuition.
Rick Grantham's insight:

 

Do you have a basic understanding of the financials of your business?

 

You don't have to be an accountant, but at the same time, you should have rudimentary knowledge, so that you can make decisions such as capital expenditures, making payroll, and choosing a new location.

 

Simple cash flow charts can let you know how you are doing,

 

 

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Tim Marston's comment, February 23, 2013 6:26 AM
I could defo improve on my accounting skills...!
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Loans & Grants | SBA.gov

Loans & Grants | SBA.gov | Running A Small Business | Scoop.it

"SBA offers a variety of loan programs for very specific purposes. Take some time to study the programs described in this section, to see if you qualify to participate."

 

Rick Grantham's insight:

Everyday, I see ads all over the place for books to show entrepreneurs where to find loans and grants.

 

Personally, if you have to pay for the book I say stay away from it. Most times, the books are outdated and you could have found more current information yourself by checking government agency sites and even local or state business development pages.

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Mixing Business and Personal Expenses on Credit Cards

Mixing Business and Personal Expenses on Credit Cards | Running A Small Business | Scoop.it
Small business owners who use personal credit cards for their business expenses could be asking for trouble without even knowing it.
Rick Grantham's insight:

Times are tough and business loans are scarce. As a result, many small business owners turn to using personal credit cards to finance their company expenses.

 

And while, if you are a sole proprietorship or DBA, it may seem like it doesn't matter if you mix the two, there are some pitfalls waiting to happen.

 

It is understandable that sometimes it seems like the only way to pay the bills is through the use of personal credit. But before taking that path, learn about the true costs first.

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Seth Godin: Why Small Businesses Fail

Seth Godin: Why Small Businesses Fail | Running A Small Business | Scoop.it
The famous marketing expert explains how small businesses can hone their market efforts.
Rick Grantham's insight:

Don't expect any long drawn out interview here. Brevity seems to be the key focus.

 

But, is it worth a read, and if you are not sure of who Seth Godin is, he is the founder of Squidoo and the author of several books.

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Tim Marston's comment, February 23, 2013 6:26 AM
Interesting stuff from a master marketer...
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The 10 Hardest Things About Running a Business

The 10 Hardest Things About Running a Business | Running A Small Business | Scoop.it
Ask any small business owner what the hardest aspects of running a company are, and you’ll likely get a wide range of answers. Some people
Rick Grantham's insight:

There's a huge gap between reporting to a boss and being your own boss. Yes, you may have all the talent in the world and you may be highly experienced, but all small business owners feel the pain of making the shift from employee to owner.

 

You have many more tasks to complete and will not have knowledge of tasks that you would have referred to another department at work.

 

If one of these ten tips can help you, then your time is well-spent reading them.

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Small Business Time Management Tips

Small Business Time Management Tips | Running A Small Business | Scoop.it
Rick Grantham's insight:

As a small business owner, do you have any idea how much your time is worth?

 

We get caught up in menial tasks and even ones that we should be delegating to others. We try so hard to run the business that we have no clue how much an hour of our time costs.

 

Take a look at the infographic in this article and see if you can identify with some of these time wasters that seem important to the business.

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When Marriage and Work Collide | TIME.com

When Marriage and Work Collide | TIME.com | Running A Small Business | Scoop.it
Even the best of marriages will likely struggle under the pressures of a shared workplace. The key is to define your domain and find common ground outside the office.
Rick Grantham's insight:

Surely, it sounds romantic for a couple to work together in business.

 

There are hundreds, probably thousands of examples of businesses that are family-run and they have been doing so for decades.

 

But what makes a husband-wife team more difficult than, for example, a father and son or two sisters? A marriage is involved and that makes the business even more high stakes than ever.

 

I found this case study that provides excellent tips for a couple thinking about working together. It does say a lot about how a marriage can be affected by a new business.

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14 Apps To Help You Run Your Business From Your Smartphone ...

14 Apps To Help You Run Your Business From Your Smartphone ... | Running A Small Business | Scoop.it
... they also give you some juicy insights and details about the app. Click to Enlarge Image. small business apps Running a Small Business From a Smartphone · Running a Small Business with Mobile Apps — Brought To You By Desk.com ...
Rick Grantham's insight:

Decent list of apps for the small business owner.  Is anyone else surprised not to see a spreadsheet or word processing app on the list?  The times they are a changin'

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6 Reasons Why Small Businesses Should Use Point of Sale Software

6 Reasons Why Small Businesses Should Use Point of Sale Software | Running A Small Business | Scoop.it

POS Software is a must for companies that sell physical products. Without these crucial statistics, money is lost, time is lost, and the business is not doing what it should.


Via Ashok Ramachandran
Rick Grantham's insight:

 

I have said all along that small business owners lack the resources of huge companies. One area, though, that they should investgate is having software that interfaces with their computers in order to determine profitability, identify weaknesses, and of course maintain a healthy cash flow.

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Ashok Ramachandran's curator insight, February 11, 2013 10:55 PM

Check out the free open source Unicenta oPOS, OpenBravo and other PC-based POS software featured on this site.

Tim Marston's comment, February 23, 2013 6:24 AM
I 100% agree on this Rick
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Online Store Opens First Physical Store

Online Store Opens First Physical Store | Running A Small Business | Scoop.it
Coastal Contacts Inc., Canada’s biggest online eyewear store, is just the latest e-tailer to get physical.
Rick Grantham's insight:

Historically, since the inception of the internet, companies have entered the online market as a way to increase sales and grow their companies.

 

Companies that only sold on the internet never thought about opening a physical store, as the concept contradicted the ideals of the online world.

 

Now, we are seeing online retailers opening physical stores. To be honest, I think starting on the internet is the best way to find out if your idea works. The investment is a lot smaller and if you succeed, then you can think about branching out.

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Rick on Facebook

Rick on Facebook | Running A Small Business | Scoop.it
Married father of 5. Hobbies include ALL Florida Gator sports.
Rick Grantham's insight:

If you haven't already connected with me on Facebook, come on over and ask your question. As you will notice, I do interact with others, and encourage you to put up your spreadsheet queries.

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Tim Marston's comment, February 23, 2013 6:25 AM
its great to see you on Scoopit Rick
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Organized Home Office

Organized Home Office | Running A Small Business | Scoop.it

 

Find inspiration to carve out a neat space of your own. Convert an awkward little nook into a home office by installing sturdy shelves."

Rick Grantham's insight:

I know space is at a premium if you work out of your home.

Getting things organized and having a dedicated space for the business is often a problem. But, there are some easy ways to organize the area and prevent clutter.

I like this presentation because it is visual, as well as textual.

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Question? - Should I move my business out of the house to make it grow?

Question? - Should I move my business out of the house to make it grow? | Running A Small Business | Scoop.it
Q: I have owned a home based business for five years. I have seen associates move their home based businesses out of the house and wonder if I should do the same.
Rick Grantham's insight:

I must admit ... this article is old. But, I figured it was still relevant today.

 

Many small business owners start in their homes and wonder when they should move out to a real office space or warehouse.

 

There are some excellent tips here to help make that decision.

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Learn the Rules Regarding Employees Using Personal Vehicles

Learn the Rules Regarding Employees Using Personal Vehicles | Running A Small Business | Scoop.it
If you have employees, they may use their car for business purposes, perhaps to make sales calls, make deliveries, or pick up supplies or equipment.
Rick Grantham's insight:

Many small business owners allow their employees to drive their own vehicles. Especially if the business is run out the home, the owner is not always in a position to provide a company car.

 

But, what are your responsibilities in this regard? Do you have the right insurance to cover employees?

 

Also, how do you reimburse employees not only for gas and parking, but for depreciation of the vehicle?

 

While it does seem advantageous cost-wise to let staff drive their own vehicles, you should weigh the pros and cons very seriously before choosing.

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Small Business and Self-Employed Tax Center

Small Business and Self-Employed Tax Center | Running A Small Business | Scoop.it

"Find it Fast! Know what you're looking for and want to find it fast? Select business topics using our A-Z listing, or by business type such as sole proprietor, corporation, etc."

 

Rick Grantham's insight:

We all get concerned when we have to file our income taxes. And, running a small business can be even more frightening, since we may not be familiar with the tax code.

 

But, don't fret because the IRS has compiled all the information in one handy spot for you to review and download.

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15 Ways to Overcome Overwhelm - Small Business Bonfire

15 Ways to Overcome Overwhelm - Small Business Bonfire | Running A Small Business | Scoop.it
If you're looking for a way to beat the stress of overwhelm, try implementing one of these tips.
Rick Grantham's insight:

Do to-do lists become your nightmare? Are you afraid of your to-do list?

 

Believe it or not, your to-do list can ruin your time management and hurts your business. Having a list of required work is a great step to organizing, but it takes more than a list to be effective.

 

Lists require prioritization and clarity.

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How to Start a Business in Mississippi

How to Start a Business in Mississippi | Running A Small Business | Scoop.it

"This handbook is intended to provide a basic guide for information and sources of assistance on starting and operating a business in Mississippi.  Throughout the handbook, references are made to federal, state and local agencies if more detailed information or other materials are required. "

Rick Grantham's insight:

If you are thinking about leaving your job and starting your own business, there is considerable amount of preparation in the beginning stages.

 

While this article was written by the State Office of the Mississippi SBDC, it is pertinent for anyone contemplating taking the entrepreneurial leap.

 

Even running a home business has its trials and pitfalls.

 

Have a read and so how the handbook can help you.

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Small Firms: LinkedIn Works, Twitter Doesn't

Small Firms: LinkedIn Works, Twitter Doesn't | Running A Small Business | Scoop.it
Six out of 10 small-business owners say they think social-media tools are important for growth, but while 41% singled out LInkedIn as having the most potential to help their companies, most weren't impressed with Twitter.
Rick Grantham's insight:

 

Many small business owners feel that they don't have the time or the knowledge to invest in social media.

 

In truth, however, whether a business enterprise is online with a website, or offline in a bricks and mortar situation, social networking is helping to build brands, communicate with existing customers, and uncover new customers.

 

Reading the stats in the article and understanding how others have leveraged social media sites to their benefit was a real eye-opener for me.

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