Even though I call this the Brag Basket, it's not really about bragging. It's about sharing. I started this so you can introduce yourself, share some good news, or congratulate a friend.
The basket is open all weekend, from October 29-31, 2010.
Speak up and add yourself or another deserving soul in the comments. We all cheer, and everyone feels great. It lets you meet each other a bit. Reading each others' stories brings us a bit closer to being a community.
How does it work? You write a comment on this post, email me, tweet me, or comment on Facebook. You tell something great about your week, or you give applause to someone who did good stuff this week. Or you celebrate something wonderful that you tried that failed.
This is not an ad. (I delete the ads.) It's a conversation with friends. So jump in. And remember to cheer for each other.
New here? Take the Guided Tour. Like what you see? Subscribe.
Refresh Kittanning reaches out for ideas
[When Mike Rizzo explained the Refresh Kitanning story to me, I knew you would want to learn about it. Here is how people in one small town are taking an active approach to economic and business development. - Becky ]
My name is Mike and I created a community website to hopefully inspire growth and entrepreneurship in my home town in Western PA. After years of nothing happening in my home town of Kittanning, PA I wanted to see if there was anything I could do to ignite growth. I’ve meet with a lot of people and the desire to change things around seems to be there.
We created a website (www.refreshkittanning.com) in which people can share ideas on how to make the community better. We hope to use the collective power and talents of the community to improve upon and promote the advantages of their community to the world.
The initial topic asks what type of businesses community members would like to see in town. We expect to see a wide array of ideas, ranging from massive undertakings to simple suggestions. We can then take that feedback and ask local businesses about expanding into that area. We also hope entrepreneurs who visit the site will see a need and be inspired to invest in the community. I assume the majority of people would like to see a large innovative company such as Apple or Google open up a local office, but I have no problem starting small—as one job created is better than none.
The website has a few other features for businesses, which include a free directory listing and a commercial property listing. Local businesses can also submit news or announcements to the site. This site is not only about attracting new businesses; it’s also about helping current businesses succeed.
In the age of the Internet, I think the timing is right for a project like this. The low cost of living and low cost of doing business is very advantageous for businesses. There are many businesses out there who would have much better economies of scale if they we’re located in Western PA, compared to NYC or California.
We just launched the site and the major challenge is getting people to share their ideas. Remember this is town of about 5,000 in PA, and change is still a dirty word. We’ve seen four straight decades of population decline, yet even the local news paper has yet to run our story. So certainly there is a major challenge getting the project off the ground. However I think once the rest of the community starts seeing the benefits the site and movement will take off.
I also want to remind everyone you don’t have to be a resident to share your ideas—all ideas are welcomed. Anyone with entrepreneur aspirations is strongly encouraged to regularly check the site as they might find a great opportunity.
Take a look at www.refreshkittanning.com.
New here? Take the Guided Tour. Like what you see? Subscribe.
We created a website (www.refreshkittanning.com) in which people can share ideas on how to make the community better. We hope to use the collective power and talents of the community to improve upon and promote the advantages of their community to the world.
The initial topic asks what type of businesses community members would like to see in town. We expect to see a wide array of ideas, ranging from massive undertakings to simple suggestions. We can then take that feedback and ask local businesses about expanding into that area. We also hope entrepreneurs who visit the site will see a need and be inspired to invest in the community. I assume the majority of people would like to see a large innovative company such as Apple or Google open up a local office, but I have no problem starting small—as one job created is better than none.The website has a few other features for businesses, which include a free directory listing and a commercial property listing. Local businesses can also submit news or announcements to the site. This site is not only about attracting new businesses; it’s also about helping current businesses succeed.
In the age of the Internet, I think the timing is right for a project like this. The low cost of living and low cost of doing business is very advantageous for businesses. There are many businesses out there who would have much better economies of scale if they we’re located in Western PA, compared to NYC or California.
We just launched the site and the major challenge is getting people to share their ideas. Remember this is town of about 5,000 in PA, and change is still a dirty word. We’ve seen four straight decades of population decline, yet even the local news paper has yet to run our story. So certainly there is a major challenge getting the project off the ground. However I think once the rest of the community starts seeing the benefits the site and movement will take off.
I also want to remind everyone you don’t have to be a resident to share your ideas—all ideas are welcomed. Anyone with entrepreneur aspirations is strongly encouraged to regularly check the site as they might find a great opportunity.
Take a look at www.refreshkittanning.com.
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Categories:
community,
economic development,
ideas,
rural
How social media fits into your plan
Do you have a strategic plan or a marketing plan? If you do, that's the place to start with social media. It doesn't matter whether you are planning for a small business, a tourism group, or an economic development organization. You start in the same place.
1. Get out your plan and look over all the goals. Which ones lend themselves to social media? Can you see goals where social media would help?
2. Now, write the action steps that put social media to work on those goals. For example, if your goal is to become an authority on your niche, your daily action might be to find and tweet five relevant links, or to answer two related questions on LinkedIn.
3. Next, put those action steps on a index card, like a checklist.
4. Finally, set a scheduled time for your social media activity. Maybe the first thing in the morning, or 30 minutes after your lunch. Follow your checklist.
There you go. A four step way to integrate social media into your existing plans. And to do it without giving up your entire life to do it.
New here? Take the Guided Tour. Like what you see? Subscribe.
1. Get out your plan and look over all the goals. Which ones lend themselves to social media? Can you see goals where social media would help?
2. Now, write the action steps that put social media to work on those goals. For example, if your goal is to become an authority on your niche, your daily action might be to find and tweet five relevant links, or to answer two related questions on LinkedIn.
3. Next, put those action steps on a index card, like a checklist.
4. Finally, set a scheduled time for your social media activity. Maybe the first thing in the morning, or 30 minutes after your lunch. Follow your checklist.
There you go. A four step way to integrate social media into your existing plans. And to do it without giving up your entire life to do it.
New here? Take the Guided Tour. Like what you see? Subscribe.
Categories:
economic development,
entrepreneurship,
social media,
tourism
Do something worth bragging about
Even though I call this the Brag Basket, it's not really about bragging. It's about sharing. I started this so you can introduce yourself, share some good news, or congratulate a friend.
The basket is open all weekend, from October 22-24, 2010.
Speak up and add yourself or another deserving soul in the comments. We all cheer, and everyone feels great. It lets you meet each other a bit. Reading each others' stories brings us a bit closer to being a community.
How does it work? You write a comment on this post, email me, tweet me, or comment on Facebook. You tell something great about your week, or you give applause to someone who did good stuff this week. Or you celebrate something wonderful that you tried that failed.
This is not an ad. (I delete the ads.) It's a conversation with friends. So jump in. And remember to cheer for each other.
New here? Take the Guided Tour. Like what you see? Subscribe.
The basket is open all weekend, from October 22-24, 2010.
Speak up and add yourself or another deserving soul in the comments. We all cheer, and everyone feels great. It lets you meet each other a bit. Reading each others' stories brings us a bit closer to being a community.
How does it work? You write a comment on this post, email me, tweet me, or comment on Facebook. You tell something great about your week, or you give applause to someone who did good stuff this week. Or you celebrate something wonderful that you tried that failed.
This is not an ad. (I delete the ads.) It's a conversation with friends. So jump in. And remember to cheer for each other.
New here? Take the Guided Tour. Like what you see? Subscribe.
Categories:
brag basket
Holiday retail ideas
Small town retailers are getting ready for the 2010 holiday season, and we are all wondering, how will it go?
I can't answer that, but I can tell you a few things you can do right now to set yourself up for the best holiday season possible.
First, dress up your store for Thanksgiving. Make a human connection with real people who miss seeing Thanksgiving get any attention. Focus on family, connection, togetherness. Our liquor store always has a "wine for Thanksgiving dinner" display.
Second, make a plan to reach out to your customers during the holidays. If you use traditional advertising or nontraditional online tools, make a plan, have a theme, and work extra hard to connect with people. Too many of us lurch through the season with no plan, saying yes to random offers to buy ads or just reusing old ideas and old ads. Spend the time to make this year different and better. Call up a retail-minded friend and brainstorm!
Third, set holiday hours for your customers' convenience. The decisions you make about hours play a huge role in your total sales. If you are closed during weekends, you are missing out on big opportunities. You may need to get tough with yourself and your helpers and expand hours this season.
For those up against the big boxes and the online competitors, review these four ways to beat bigger competitors. They are especially relevant in the holidays.
Last year, John Tozzi with BusinessWeek asked for my ideas for holiday promotions. He shared some of my best ideas about shop local and authenticity as a key holiday promotion.
Now I'm asking you. What are your ideas to make this a terrific sales year?
New here? Take the Guided Tour. Like what you see? Subscribe.
I can't answer that, but I can tell you a few things you can do right now to set yourself up for the best holiday season possible.
First, dress up your store for Thanksgiving. Make a human connection with real people who miss seeing Thanksgiving get any attention. Focus on family, connection, togetherness. Our liquor store always has a "wine for Thanksgiving dinner" display.
Second, make a plan to reach out to your customers during the holidays. If you use traditional advertising or nontraditional online tools, make a plan, have a theme, and work extra hard to connect with people. Too many of us lurch through the season with no plan, saying yes to random offers to buy ads or just reusing old ideas and old ads. Spend the time to make this year different and better. Call up a retail-minded friend and brainstorm!
Third, set holiday hours for your customers' convenience. The decisions you make about hours play a huge role in your total sales. If you are closed during weekends, you are missing out on big opportunities. You may need to get tough with yourself and your helpers and expand hours this season.
For those up against the big boxes and the online competitors, review these four ways to beat bigger competitors. They are especially relevant in the holidays.
Last year, John Tozzi with BusinessWeek asked for my ideas for holiday promotions. He shared some of my best ideas about shop local and authenticity as a key holiday promotion.
Now I'm asking you. What are your ideas to make this a terrific sales year?
New here? Take the Guided Tour. Like what you see? Subscribe.
Categories:
entrepreneurship,
marketing,
rural,
Small Biz 100
Join us at SmallTown 140conf Nov 1
It seems like people from big cities forget that small towns exist, and that we have the same technology tools and social networks. We are on Twitter, Facebook, and other online networks together, but we have different face-to-face networks. We don't live the same lifestyle as big city people. We do business a bit differently. We are closing to the ground, so to speak. It's time to have a conversation about technology among small town people.
Our businesses, media, education and more are being changed by the "state of now" instant communications. We want to share ideas and successes and failures with each other.
All of this played in to the creation of the 140 Characters Conference SmallTown event that will be in Hutchinson, Kansas, on November 1.
Jeff Pulver, founder of the 140 Conference series, explains why a small town will host the next 140Conference.
The Wichita Business Journal gave this event some great coverage on their site:
And on Oklahoma Horizon, Rob McClendon gave a great pitch for the event. The Oklahoma Horizon crew will be there in Hutchison. (The pitch is after the interview.)
You don't want to miss it. If you can find a way, get there. In fact, take $40 off your ticket by using 140disc as a discount code on the registration form. Students can sign up for free student passes. And if you are not a student, but you need a free pass, let me know on the contact form. I have a few general passes left.
On October 20, I'll be speaking at the Detroit 140 Conference. I'd love to see you there, too.
New here? Take the Guided Tour. Like what you see? Subscribe.
Our businesses, media, education and more are being changed by the "state of now" instant communications. We want to share ideas and successes and failures with each other.
All of this played in to the creation of the 140 Characters Conference SmallTown event that will be in Hutchinson, Kansas, on November 1.
Jeff Pulver, founder of the 140 Conference series, explains why a small town will host the next 140Conference.
The Wichita Business Journal gave this event some great coverage on their site:
The best part of the event, McCray says, is the wide variety of people who come together with the common goal of learning more about how social media is shaping the business world.
“With that many industries, ideas cross-pollinate,” she says. “The resulting ideas are much cooler than what you came in with.”
And on Oklahoma Horizon, Rob McClendon gave a great pitch for the event. The Oklahoma Horizon crew will be there in Hutchison. (The pitch is after the interview.)
You don't want to miss it. If you can find a way, get there. In fact, take $40 off your ticket by using 140disc as a discount code on the registration form. Students can sign up for free student passes. And if you are not a student, but you need a free pass, let me know on the contact form. I have a few general passes left.
On October 20, I'll be speaking at the Detroit 140 Conference. I'd love to see you there, too.
New here? Take the Guided Tour. Like what you see? Subscribe.
Categories:
events,
rural,
social media
You are worth bragging on
Even though I call this the Brag Basket, it's not really about bragging. It's about sharing. I started this so you can introduce yourself, share some good news, or congratulate a friend.
The basket is open all weekend, from October 15-17, 2010.
Speak up and add yourself or another deserving soul in the comments. We all cheer, and everyone feels great. It lets you meet each other a bit. Reading each others' stories brings us a bit closer to being a community.
How does it work? You write a comment on this post, email me, tweet me, or comment on Facebook. You tell something great about your week, or you give applause to someone who did good stuff this week. Or you celebrate something wonderful that you tried that failed.
This is not an ad. (I delete the ads.) It's a conversation with friends. So jump in. And remember to cheer for each other.
New here? Take the Guided Tour. Like what you see? Subscribe.
The basket is open all weekend, from October 15-17, 2010.
Speak up and add yourself or another deserving soul in the comments. We all cheer, and everyone feels great. It lets you meet each other a bit. Reading each others' stories brings us a bit closer to being a community.
How does it work? You write a comment on this post, email me, tweet me, or comment on Facebook. You tell something great about your week, or you give applause to someone who did good stuff this week. Or you celebrate something wonderful that you tried that failed.
This is not an ad. (I delete the ads.) It's a conversation with friends. So jump in. And remember to cheer for each other.
New here? Take the Guided Tour. Like what you see? Subscribe.
Categories:
brag basket
Kansas entrepreneur event Nov 16 and 17
[Joy Marshall at the Center for Rural Affairs has been kindly bombarding me with info on the upcoming Kansas MarketPlace in Dodge City. That is practically next door to me, and I'm honored to be speaking. Here are all the details from Joy. -Becky]
By Joy Marshall
The Center for Rural Affairs in partnership with the Kansas Department of Commerce, is pleased to present the 2nd Annual Kansas MarketPlace: Opening Doors to Success conference. Join us Nov. 16 & 17, 2010 in Dodge City at the Dodge House Hotel and Convention Center.
The early bird registration fee is only $40 and includes conference materials, breaks, lunch and the Simply Kansas reception. Be sure to take advantage of the low rate and register by November 2. The registration fee after Nov. 2 is $60 and after Nov. 11 increases to $80. You can pay on line using a credit card or mail your registration form along with a check payable to the Kansas Department of Commerce.
We are excited by the amazing line-up of speakers. Check out the agenda for a listing of the topics. We will update KansasCommerce.com/MarketPlace with breakout descriptions soon!
New this year is the Youth Entrepreneur track. These breakout sessions are specifically designed for high school and college students interested in starting their own businesses. We have an energetic group of presenters to engage Kansas' future entrepreneurs.
EXHIBITOR and SPONSORSHIP Opportunities
Put your products and services in front of as many as 300 entrepreneurs at the 2010 Kansas MarketPlace: Opening Doors to Success conference. Join us Nov. 16 & 17 for the 2nd annual event at the Dodge House Hotel and Convention Center in Dodge City.
Visit www.kansascommerce.com/marketplace and click on the link to Exhibitor and Sponsor information. The price of an exhibit booth is the same as last year at $150 until Oct. 15 with the price to exhibit increasing to $250 thereafter.
Go the extra mile and market your business through a sponsorship to the 2nd Annual Kansas MarketPlace. Learn more by visiting the website at www.kansascommerce.com/marketplace.
Visit KansasCommerce.com/MarketPlace or www.cfra.org/marketplace/home for more information. Conference room block and rates are also available on the website.
For questions contact Joy Marshall, Center for Rural Affairs, (402) 614-5558 or joym@cfra.org or Becki Rhoades, Kansas Department of Commerce, at (785) 296-1847 or brhoades@kansascommerce.com
You can also follow us on Facebook at http://www.facebook.com/KansasMarketPlace.
New here? Take the Guided Tour. Like what you see? Subscribe.
By Joy Marshall
The Center for Rural Affairs in partnership with the Kansas Department of Commerce, is pleased to present the 2nd Annual Kansas MarketPlace: Opening Doors to Success conference. Join us Nov. 16 & 17, 2010 in Dodge City at the Dodge House Hotel and Convention Center.
The early bird registration fee is only $40 and includes conference materials, breaks, lunch and the Simply Kansas reception. Be sure to take advantage of the low rate and register by November 2. The registration fee after Nov. 2 is $60 and after Nov. 11 increases to $80. You can pay on line using a credit card or mail your registration form along with a check payable to the Kansas Department of Commerce.
We are excited by the amazing line-up of speakers. Check out the agenda for a listing of the topics. We will update KansasCommerce.com/MarketPlace with breakout descriptions soon!
New this year is the Youth Entrepreneur track. These breakout sessions are specifically designed for high school and college students interested in starting their own businesses. We have an energetic group of presenters to engage Kansas' future entrepreneurs.
EXHIBITOR and SPONSORSHIP Opportunities
Put your products and services in front of as many as 300 entrepreneurs at the 2010 Kansas MarketPlace: Opening Doors to Success conference. Join us Nov. 16 & 17 for the 2nd annual event at the Dodge House Hotel and Convention Center in Dodge City.
Visit www.kansascommerce.com/marketplace and click on the link to Exhibitor and Sponsor information. The price of an exhibit booth is the same as last year at $150 until Oct. 15 with the price to exhibit increasing to $250 thereafter.
Go the extra mile and market your business through a sponsorship to the 2nd Annual Kansas MarketPlace. Learn more by visiting the website at www.kansascommerce.com/marketplace.
Visit KansasCommerce.com/MarketPlace or www.cfra.org/marketplace/home for more information. Conference room block and rates are also available on the website.
For questions contact Joy Marshall, Center for Rural Affairs, (402) 614-5558 or joym@cfra.org or Becki Rhoades, Kansas Department of Commerce, at (785) 296-1847 or brhoades@kansascommerce.com
You can also follow us on Facebook at http://www.facebook.com/KansasMarketPlace.
New here? Take the Guided Tour. Like what you see? Subscribe.
Categories:
events
Small town wedding planner dreams big
[Continuing our series of small town business profiles, I'd like you to meet Shayna Walker, from Williamsburg, Virginia. I got to know her in the Third Tribe Marketing forums, where I am a proud affiliate. I think you'll enjoy her small town business story. -Becky]
By Shayna Walker
I established Williamsburg Wedding Design, a full-service wedding production company, in 2004 after moving from Los Angeles (the quintessential NON Small Town) to Virginia which was home to my alma mater, the College of William & Mary. I had a young family in tow: a (now ex) husband and twin 4-month-olds. We were looking for better cost of living, advancement opportunity with my ex-husband's auto insurance company and a more realistic lifestyle. Kids at my California high school drove BMWs to school and some had agents. I wanted my children to grow up with more perspective than that.
I applied years of experience in the hospitality industry and in customer service to a career as a wedding planner. It took me only a matter of weeks to see the benefits and drawbacks of starting a new business in a small town (Williamsburg has about 12,500 residents - there is a larger, geographically sprawling county around it of 62,000). Starting up was easy. Earning respect, however, was not.
In the first year I had a local florist tell a friend that I'd never be successful because I didn't dress like the rest of the ladies in business who were my age (I never have and never will wear a fancy hat to a client meeting, sorry). I pursued membership in a bunch of local business groups to network and establish relationships. Some were accepting and helpful. Others advertised as open to women in my demographic, but I found out quickly that they were social organizations for local families only. I was "invited" to attend meetings then never told where or when the meetings would take place until they had already happened. The small town social order was painful to learn and hard to overcome.
On the flip side, the wedding community in Williamsburg is very close knit. After a couple of years of proving that I'm good at what I do, that I support other local businesses and that I care about promoting the region as a wedding destination on a global scale, I achieved a sort of "expert" status among a lot of industry business owners. I rarely have to pay for advertising as referrals drive the majority of my planning sales, and I hear all the time from prospects and clients "everybody knows you".
Compared to Richmond, a nearby major market with over 160 venues where you can hold a wedding reception, we have a handful (maybe 20 if you're flexible with your definition of venue). Most of our sites can't accommodate more than around 150-180 guests, and most churches in the area aren't necessarily equipped to handle a high volume of non-member weddings. Williamsburg is a popular choice for brides because of its convenient location and popularity as a tourist destination. The contrast in availability of services and desirability can make it a difficult market for us in terms of sales, but it makes my services as a seasoned expert in the area much more valuable.
The scale of Williamsburg weddings is also what drove me to establish my blogs, and specifically the Life in Weddings business development site for wedding professionals. There is enough wedding planning business in Williamsburg to sustain a business, but not really enough for wild planning success. Life in Weddings fills in that gap for this single-mom and primary provider. I leverage the expertise I've developed locally to help other wedding professionals on a more global level. Through Life in Weddings, I plan to author and offer books, information products, training and consulting to other wedding businesses.
Understanding intimately how geography impacts our approach to business, I launched a 50-state research tour of bridal shows to promote Life in Weddings, and that was what led me to the Road to Success Challenge by Fairfield Inn & Suites. All of a sudden I'm not only an entrepreneur, but a regular business traveler as well. I'm hoping to win the challenge and apply the $20K grand prize to finishing up my dream tour and having my websites and blogs professionally branded complete with shiny graphics (my secret business-owner dream). I'm looking forward to becoming a wild success - and returning the love that Williamsburg has given me over the past 6 years.
New here? Take the Guided Tour. Like what you see? Subscribe.
By Shayna Walker
 |
Photo courtesy of |
I applied years of experience in the hospitality industry and in customer service to a career as a wedding planner. It took me only a matter of weeks to see the benefits and drawbacks of starting a new business in a small town (Williamsburg has about 12,500 residents - there is a larger, geographically sprawling county around it of 62,000). Starting up was easy. Earning respect, however, was not.
In the first year I had a local florist tell a friend that I'd never be successful because I didn't dress like the rest of the ladies in business who were my age (I never have and never will wear a fancy hat to a client meeting, sorry). I pursued membership in a bunch of local business groups to network and establish relationships. Some were accepting and helpful. Others advertised as open to women in my demographic, but I found out quickly that they were social organizations for local families only. I was "invited" to attend meetings then never told where or when the meetings would take place until they had already happened. The small town social order was painful to learn and hard to overcome.
On the flip side, the wedding community in Williamsburg is very close knit. After a couple of years of proving that I'm good at what I do, that I support other local businesses and that I care about promoting the region as a wedding destination on a global scale, I achieved a sort of "expert" status among a lot of industry business owners. I rarely have to pay for advertising as referrals drive the majority of my planning sales, and I hear all the time from prospects and clients "everybody knows you".
Compared to Richmond, a nearby major market with over 160 venues where you can hold a wedding reception, we have a handful (maybe 20 if you're flexible with your definition of venue). Most of our sites can't accommodate more than around 150-180 guests, and most churches in the area aren't necessarily equipped to handle a high volume of non-member weddings. Williamsburg is a popular choice for brides because of its convenient location and popularity as a tourist destination. The contrast in availability of services and desirability can make it a difficult market for us in terms of sales, but it makes my services as a seasoned expert in the area much more valuable.
The scale of Williamsburg weddings is also what drove me to establish my blogs, and specifically the Life in Weddings business development site for wedding professionals. There is enough wedding planning business in Williamsburg to sustain a business, but not really enough for wild planning success. Life in Weddings fills in that gap for this single-mom and primary provider. I leverage the expertise I've developed locally to help other wedding professionals on a more global level. Through Life in Weddings, I plan to author and offer books, information products, training and consulting to other wedding businesses.
Understanding intimately how geography impacts our approach to business, I launched a 50-state research tour of bridal shows to promote Life in Weddings, and that was what led me to the Road to Success Challenge by Fairfield Inn & Suites. All of a sudden I'm not only an entrepreneur, but a regular business traveler as well. I'm hoping to win the challenge and apply the $20K grand prize to finishing up my dream tour and having my websites and blogs professionally branded complete with shiny graphics (my secret business-owner dream). I'm looking forward to becoming a wild success - and returning the love that Williamsburg has given me over the past 6 years.
New here? Take the Guided Tour. Like what you see? Subscribe.
Categories:
entrepreneurship,
POV,
rural
Tourism meets social media at BlogWorld Expo
Because we are constantly working to bring tourism professionals together with social media tools for better marketing, Sheila Scarborough and I put together an entire track of tourism workshops at BlogWorld Expo this year.
In the Thursday, October 14 BlogWorld Tourism track, we're really excited to bring you four co-panelists who have real-world, practical application experience to share.
Ann Peavey saw the possibilities of social media - particularly Twitter - as a personable, friendly way to connect visitors with her beloved city of Seattle. She represents the Seattle CVB (Convention and Visitor's Bureau) as @SeattleMaven and will share how she uses dashboard tools like TweetDeck and keywords to be a virtual concierge for her city.
Jeff Hurt is a meetings expert at Velvet Chainsaw Consulting and he's worked with businesses and tourism organizations large and small to show them how to use social media to make on- and off-line gatherings much more useful and enjoyable. He knows how to drill down and find helpful resources and people, and he'll show you how.
Mike Bersabal brings current crisis communications expertise from his work at the Pensacola, Florida CVB during the recent BP oil spill - follow him @Mike_VstPcola. In response to the disaster, Florida tourism used social media to give visitors a more complete, up-to-the-minute view of beach conditions, and Mike will talk about that experience plus give tips about incorporating bloggers into your media outreach.
Stephanie Molina and the Beaumont, Texas CVB regularly win awards for their imaginative and forward-leaning approach to destination marketing. They're already experimenting with QR codes and are fearlessly curious about what will entice visitors to their part of Southeast Texas. Follow her as @Beaumartian, and hear Stephanie share her recent experience with adding online video to her tourism "toolbag," then dive in to hands-on video work with cameras generously provided by conference sponsor Kodak.
If you're thinking of dropping everything and attending, use code TC20 for 20% off your ticket.
If you're thinking about getting this on your calendar for next year, do it. Our preliminary talks with Rick Calvert, the founder of BlogWorld, are that we will be back again in 2011. Now is the time to schedule and budget for a trip to Las Vegas next fall.
Can't wait for next fall? Our Tourism Currents online social media course is available now.
New here? Take the Guided Tour. Like what you see? Subscribe.
In the Thursday, October 14 BlogWorld Tourism track, we're really excited to bring you four co-panelists who have real-world, practical application experience to share.
Ann Peavey saw the possibilities of social media - particularly Twitter - as a personable, friendly way to connect visitors with her beloved city of Seattle. She represents the Seattle CVB (Convention and Visitor's Bureau) as @SeattleMaven and will share how she uses dashboard tools like TweetDeck and keywords to be a virtual concierge for her city.
Jeff Hurt is a meetings expert at Velvet Chainsaw Consulting and he's worked with businesses and tourism organizations large and small to show them how to use social media to make on- and off-line gatherings much more useful and enjoyable. He knows how to drill down and find helpful resources and people, and he'll show you how.
Mike Bersabal brings current crisis communications expertise from his work at the Pensacola, Florida CVB during the recent BP oil spill - follow him @Mike_VstPcola. In response to the disaster, Florida tourism used social media to give visitors a more complete, up-to-the-minute view of beach conditions, and Mike will talk about that experience plus give tips about incorporating bloggers into your media outreach.
Stephanie Molina and the Beaumont, Texas CVB regularly win awards for their imaginative and forward-leaning approach to destination marketing. They're already experimenting with QR codes and are fearlessly curious about what will entice visitors to their part of Southeast Texas. Follow her as @Beaumartian, and hear Stephanie share her recent experience with adding online video to her tourism "toolbag," then dive in to hands-on video work with cameras generously provided by conference sponsor Kodak.
If you're thinking of dropping everything and attending, use code TC20 for 20% off your ticket.
If you're thinking about getting this on your calendar for next year, do it. Our preliminary talks with Rick Calvert, the founder of BlogWorld, are that we will be back again in 2011. Now is the time to schedule and budget for a trip to Las Vegas next fall.
Can't wait for next fall? Our Tourism Currents online social media course is available now.
New here? Take the Guided Tour. Like what you see? Subscribe.
Financing your start up business
THERE’S NO FREE LUNCH!
ALL MONEY HAS STRINGS ATTACHED
Financing Your Start-Up Business
Debunking the Myth of “Free” Grants
[I met Fred Patterson at the National Association of Seed and Venture Funds conference in Oklahoma City last year. He's back with another rock solid article on business financing. You can also download a PDF of this article, courtesy of Fred.]
By Fred Patterson
Photo provided by Fred Patterson.
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ALL MONEY HAS STRINGS ATTACHED
Financing Your Start-Up Business
Debunking the Myth of “Free” Grants
[I met Fred Patterson at the National Association of Seed and Venture Funds conference in Oklahoma City last year. He's back with another rock solid article on business financing. You can also download a PDF of this article, courtesy of Fred.]
By Fred PattersonIt’s the Urban Myth that won’t stay debunked. The Government will give you “free” money to start your business. It’s easy to get! All you have to do is ask them for it! Don’t know where to apply? Buy my book and find out! Only $69.95!
Uh-huh. Sure. That “Free Lunch” you’re looking for? Guess what? It’ll cost you $69.95 (plus shipping and handling)! There is no free lunch, folks. NO ONE is going to give you money without expecting something in return. It’s called the “WIIFM” factor. What’s In It For Me? There’s always a WIIFM. And all WIIFMs come with strings attached.
But there are different kinds of strings. And, guess what? If you can satisfy the WIIFM and are willing to manage the expectations of the string holders, money is available. It’s just never free, and never without those strings.
For perspective, let’s classify the different ways a business can be financed, after the owner has exhausted all personal funds, and bootstrapping (using generated revenues to finance all costs) is premature or insufficient:
Type of Financing | From Whom | WIIFM | Expectations |
Amateur | The 3Fs: Family, Friends and Fools | To support you personally | Don’t squander the money and embarrass them |
Grant | Government Agency or Foundation | Support their Mission by helping solve a problem | Perform and report your best efforts |
Debt | Banks (may be SBA guaranteed) | The Interest you pay them | Keep current on debt servicing or forfeit your collateral |
Equity | Angels or Venture Capital Investors | Build wealth via a significant return on their investment (ROI) | Take their advice whenever offered and provide that ROI |
Amateur financing strings are the easiest to manage, but can get tangled in a knot you’ll never untie if you’re not careful! All your “3F Investor” wants is to be proud of you. They also can be the most devastatingly impactful on your psyche if things go in directions they don’t approve of. Accept this money carefully.
Debt financing requires putting up collateral equal in value to the money provided, and having the ability to service the debt by making regular payments of principal and interest. It’s unlikely a start-up business (which is usually pre-revenue) can qualify for or want to incur debt! The SBA has been making big headlines recently by making more money available to small businesses by relaxing the qualifying criteria for their loan guarantees to the banks making the loans. This doesn’t help most start-up businesses, however. SBA loans are for established small businesses which can provide evidence of being able to service the debt. Definite strings here, as there’s ALWAYS collateral involved.
Equity financing rarely applies to start-ups. The equity investor is looking for a significant return on investment in a reasonable period of time. According to the SBA, fewer than half of small start-up businesses make it past five years. This means getting an Angel (invests their own money) or a VC (invests someone else’s money) to invest in you is convincing them that you’re a safe bet to not only survive, but that you’re very likely to make LOTS of money. Not only that but they’ll want you to either go public or be sold in some reasonable time frame. Why? Because their equity investment is in your private company’s stock, which is not convertible to cash without doing that! Remember, their WIIFM is to build wealth, not collect paper stock certificates.
Grants for small business
Which brings us back to those “free money” Grants. There are actually some Grants available for start-up businesses, but they’re not really free, and the money is not without strings.
The ONLY grants available for starting a business at the Federal level are those of the Small Business Innovation Research (SBIR) program. The WIIFM of the Federal Agency providing the money is that you solve a technology problem in an area that they identify which is pertinent to their Research and Development mission. Then they get “use rights” or a “royalty-free license” to what you develop. SBIR is intensely competitive, with only approximately 10% of the applications being funded. If you’re selected, you can get over $1M for these projects (over 2-3 years). You’re audited on how you spend the money, so it’s not, by any means, “free”. And they may require you to publish the results and share in the title to any patents you may file. Lots of strings. But the SBIR strings are manageable (with special protections for your ownership rights), as there’s no debt to service, and they don’t own a piece of you as would an equity investor. This small business program is not small potatoes, as close to $2.5 billion of projects are funded annually by eleven major Federal Agencies.
States sometimes get grants from the Federal government to use for economic development programs. Sometimes the States make this money available, in turn, as grants to local businesses or economic development agencies to satisfy their social and economic initiatives. Watch out for the strings, however, as sometimes these are really convertible debt or equity arrangements disguised as grants. If you don’t create the necessary number of jobs, or meet other milestones for (taxable) revenues or future outside investment, you may find you have to give the money back! Do some Google searching and contact your State’s Economic Development Agency to find out what might be available in your State or local community.
Foundations do sometimes provide grants to small businesses, but only when you can directly address their reason for existing with some benefit worthy of being publicized. Their main activity is usually fundraising to support their mission, and if your business can be “revenue positive” (the amount of money they can attract by having you involved is more than they’ll give you) then this type of grant is possible. Pick your Foundation Investor wisely, as these relationships may be public and controversial, and can be somewhat fragile.
Conclusions
So, let’s summarize. Financing your start-up business will not be easy. The high failure rate of small start-up businesses makes it risky for any investor.
Equity investors may take a chance on a proven entrepreneur who has a pre-revenue business idea, but they’re generally risk averse for anything other than a scalable big-marketplace sure-bet business model that can produce an exit with high ROI in a short timeframe. Not usually an option for early-stage start-ups. There is an organization that focuses on the problems of equity funding for start-up ventures: The National Association of Seed and Venture Funds (NASVF – http://nasvf.org).
Debt financing means putting at risk personal property that the bank really doesn’t want to own. They’re also risk averse, and may be very difficult to sign up, even if you’re willing to service the debt. Rarely an option for a start-up. However, once revenues are coming in, receivables line of credit options become available, as the customer invoice becomes the collateral. The SBA’s various loan guarantee programs become viable once the company is established and generating revenues. For information on these, see: http://www.sba.gov/financialassistance/borrowers/guaranteed/.
Grant financing is a very attractive option for technology companies who can respond to a Government need. For information on the Federal SBIR program, see the SBA’s official SBIR website at http://www.sba.gov/aboutsba/sbaprograms/sbir/. And find out what projects the Agencies are looking to fund today and in the near future at The SBIR Gateway (http://www.SBIRgateway.com). For State level grants, a website that does provide some information about this is http://usgovinfo.about.com/od/smallbusiness/a/stategrants.htm.
As difficult to accept as it might be, for many new business start-ups, Amateur financing is their only option. As Walter Cronkite used to say, “That’s the way it is.” But, for many businesses, that’s all that might be needed before revenues can be generated, and the business can be bootstrapped. There’s even a Bootstrapper’s Network (http://www.bootstrapnetwork.com) with information and resources to help you deal with issues in staying afloat without accepting outside funding.
So beware of offers to lead you to “Free Money” for starting a business, especially for a fee. Don’t be taken in by hucksters. There is no free lunch.
And watch out for the strings no matter what financing you take. Always be aware of the WIIFMs, and manage those expectations.
Come to think of it, satisfying WIIFMs and managing expectations is what Customer Service is all about too, but that’s another article!
As President of The Commercialization Funding Coach, Inc. (www.CFcoach.com), and known nationally as The SBIR Coach®, Fred Patterson has been coaching entrepreneurs and their companies with heralded success for over 25 years. Using his proprietary Funding Readiness Level (FRL)®, Fred prepares them for the process of finding and securing funding for growth.
Photo provided by Fred Patterson.
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Categories:
entrepreneurship,
finance
Share in the Brag Basket
Even though I call this the Brag Basket, it's not really about bragging. It's about sharing. I started this so you can introduce yourself, share some good news, or congratulate a friend.
The basket is open all weekend, from October 8-10, 2010.
Speak up and add yourself or another deserving soul in the comments. We all cheer, and everyone feels great. It lets you meet each other a bit. Reading each others' stories brings us a bit closer to being a community.
How does it work? You write a comment on this post, email me, tweet me, or comment on Facebook. You tell something great about your week, or you give applause to someone who did good stuff this week. Or you celebrate something wonderful that you tried that failed.
This is not an ad. (I delete the ads.) It's a conversation with friends. So jump in. And remember to cheer for each other.
New here? Take the Guided Tour. Like what you see? Subscribe.
The basket is open all weekend, from October 8-10, 2010.
Speak up and add yourself or another deserving soul in the comments. We all cheer, and everyone feels great. It lets you meet each other a bit. Reading each others' stories brings us a bit closer to being a community.
How does it work? You write a comment on this post, email me, tweet me, or comment on Facebook. You tell something great about your week, or you give applause to someone who did good stuff this week. Or you celebrate something wonderful that you tried that failed.
This is not an ad. (I delete the ads.) It's a conversation with friends. So jump in. And remember to cheer for each other.
New here? Take the Guided Tour. Like what you see? Subscribe.
Categories:
brag basket
Broadband perspective from telecommunications cooperatives
[I'm a rural telco cooperative customer, and I know so are many of you. That's why I'm publishing this guest post on broadband from Shirley Bloomfield, CEO of the National Telecommunications Cooperative Association. --Becky]
By Shirley Bloomfield
It's been called today's "essential service," with the transformative power of electricity and the telephone. High speed broadband Internet access ("broadband") has already altered the way Americans live, work and play-and new applications for our daily lives emerge constantly. Broadband's benefit to businesses, particularly small businesses, is clear, and while broadband can improve the lives of all consumers, access is especially important for those living and working in rural America.
Broadband access is critical for rural communities because it levels the playing field with urban areas. It helps rural-based businesses compete locally, nationally and globally, which aids economic development in small towns. Consider the farmer who monitors weather patterns online, or the rancher that can buy and sell livestock in markets far beyond his traditional geographic boundaries. Small business owners with limited human and financial resources can easily expand their customer reach through online advertising and transactions. As connected businesses expand their market presence, they can grow and create more jobs.
And that's just the tip of the iceberg. As the speed of online services increases, applications will continue to improve and be used more extensively by businesses and consumers. Innovation encourages more innovation, and small businesses are among those best equipped to capitalize on the potential of online commerce.
Put simply, faster Internet speeds save businesses time and money. Broadband connections enable the processing of high volumes of online transactions-at rates that are considerably more efficient and cost effective than with slower speeds such as provided by dial-up access. Broadband makes online training and telecommuting possible, which can attract potential employees and keep shareholders informed. In some cases, communities with broadband access can develop a pool of online workers which could attract information technology-based businesses like software development firms. All of these things contribute to the competitive edge of rural and small town communities, giving them a competitive edge in attracting and retaining business, which is absolutely essential to their continued viability.
Community-based telecommunications companies provide this critical broadband connection to rural consumers, businesses, governments, and anchor institutions like hospitals, schools and libraries. Small businesses themselves-originally established to bring communications service to areas deemed unprofitable by the larger telecom providers, local telcos have a vested interest in the economic development of their communities. They partner with other local businesses and civic entities to enhance the lives of local residents, or undertake such projects themselves.
Take Spring Grove Communications in Minnesota, for example. The telco recently built a stadium-style, 200-seat 3-D capable cinema that includes a stage for theatre presentations, public meetings, and other forums. The facility also has 900 square feet of office space. In addition to the movie offerings, the cinema has been the site of training seminars, a regional economic development authority meeting and online gaming contests. Located on the town's main street, the cinema has become a hub for activity and attracted interest to the area. In addition, the telco in 2004 purchased a blighted property next to its existing office and built a new headquarters building. But the facility houses much more than the telco offices, it is also home to the Spring Grove Public Library, a 24-hour fitness center (owned and operated by the telco) two community meeting rooms and three offices for local businesses.
Local telcos are also actively engaged in their communities' public safety, telemedicine, and education initiatives. Grand River Mutual Telephone in Missouri teamed up with a local police department to combat crime by installing a system that allows law enforcement officers to monitor strategically-placed security cameras virtually anywhere in the telco's service area-all made possible via a broadband connection, which Grand River provides free to member communities with a full-time city office. The company has been approached by several local business owners and farmers interested in placing cameras outside their own establishments to monitor the premises.
In the health care arena, Madison Telephone in Illinois recently initiated a community partnership with Community Memorial Hospital, which was experiencing extreme latency issues in data transmission due to an Internet connection it shared with other public facilities. Madison worked with the hospital to install a fiber optic network that provides an unlimited potential for bandwidth-rich applications like those needed to expedite the analysis and transfer of medial diagnostic information to larger hospitals and clinics in the region. Timely readings and diagnoses increase the effectiveness of the hospital's treatment and ultimately improve the quality of life of patients.
The telco also collaborated with a local school district to provide a fiber connection which delivered enhanced data services enabling the school to pursue online education opportunities for students residing throughout its challenging rural environment. The design was even promoted by the Illinois Telephone Association as an example of how its members can create effective public-private partnerships to address community needs. SkyLine Membership Corporation in North Carolina also demonstrated a commitment to education in its community with the awarding of $55,000 in grants funding SMART Board Interactive white board systems which help teachers bring more interactivity and collaboration into the classroom. The telco has been praised by its community's students, teachers and school administrators for helping to transform its schools into 21st century learning environments.
Despite the many challenges of serving these areas-notably the extreme high-cost of deploying network infrastructure over sparsely populated and often rugged terrain-local telcos are committed to delivering the reliable, high-quality broadband at affordable rates. To do this, small telcos rely on a proven system of cost-recovery mechanisms to ensure they are able to recoup the large financial investment necessary to build and maintain the networks that connect rural communities to each other and to the world.
A federal plan to expand broadband access to all Americans, known as the national broadband plan, threatens that cost recovery system and undermines small telcos' own efforts to make broadband available throughout their service territories-and to continue the initiatives that create jobs and improve the economic standing of rural communities. The national broadband plan puts rural businesses at the risk of an extreme competitive disadvantage. As written, the plan dismantles the cost recovery mechanisms that rural telcos rely on to build and maintain their broadband-capable networks. It also proposes to fund broadband speeds in rural areas that are 25 times slower than those in urban areas. Small businesses that rely on affordable high-speed broadband should support their local communications provider's efforts to alter the course of the national broadband plan. Doing so will help ensure businesses receive the broadband services they need to keep rural America a vital engine for innovation and prosperity.
Shirley Bloomfield is Chief Executive Officer of the National Telecommunications Cooperative Association, which represents more than 560 locally owned and controlled telecommunications cooperatives and commercial companies throughout rural and small-town America. Reach her at sbloomfield@ntca.org.
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By Shirley Bloomfield
 |
| Broadband discussion table at the Midwest Rural Assembly |
Broadband access is critical for rural communities because it levels the playing field with urban areas. It helps rural-based businesses compete locally, nationally and globally, which aids economic development in small towns. Consider the farmer who monitors weather patterns online, or the rancher that can buy and sell livestock in markets far beyond his traditional geographic boundaries. Small business owners with limited human and financial resources can easily expand their customer reach through online advertising and transactions. As connected businesses expand their market presence, they can grow and create more jobs.
And that's just the tip of the iceberg. As the speed of online services increases, applications will continue to improve and be used more extensively by businesses and consumers. Innovation encourages more innovation, and small businesses are among those best equipped to capitalize on the potential of online commerce.
Put simply, faster Internet speeds save businesses time and money. Broadband connections enable the processing of high volumes of online transactions-at rates that are considerably more efficient and cost effective than with slower speeds such as provided by dial-up access. Broadband makes online training and telecommuting possible, which can attract potential employees and keep shareholders informed. In some cases, communities with broadband access can develop a pool of online workers which could attract information technology-based businesses like software development firms. All of these things contribute to the competitive edge of rural and small town communities, giving them a competitive edge in attracting and retaining business, which is absolutely essential to their continued viability.
Community-based telecommunications companies provide this critical broadband connection to rural consumers, businesses, governments, and anchor institutions like hospitals, schools and libraries. Small businesses themselves-originally established to bring communications service to areas deemed unprofitable by the larger telecom providers, local telcos have a vested interest in the economic development of their communities. They partner with other local businesses and civic entities to enhance the lives of local residents, or undertake such projects themselves.
Take Spring Grove Communications in Minnesota, for example. The telco recently built a stadium-style, 200-seat 3-D capable cinema that includes a stage for theatre presentations, public meetings, and other forums. The facility also has 900 square feet of office space. In addition to the movie offerings, the cinema has been the site of training seminars, a regional economic development authority meeting and online gaming contests. Located on the town's main street, the cinema has become a hub for activity and attracted interest to the area. In addition, the telco in 2004 purchased a blighted property next to its existing office and built a new headquarters building. But the facility houses much more than the telco offices, it is also home to the Spring Grove Public Library, a 24-hour fitness center (owned and operated by the telco) two community meeting rooms and three offices for local businesses.
Local telcos are also actively engaged in their communities' public safety, telemedicine, and education initiatives. Grand River Mutual Telephone in Missouri teamed up with a local police department to combat crime by installing a system that allows law enforcement officers to monitor strategically-placed security cameras virtually anywhere in the telco's service area-all made possible via a broadband connection, which Grand River provides free to member communities with a full-time city office. The company has been approached by several local business owners and farmers interested in placing cameras outside their own establishments to monitor the premises.
In the health care arena, Madison Telephone in Illinois recently initiated a community partnership with Community Memorial Hospital, which was experiencing extreme latency issues in data transmission due to an Internet connection it shared with other public facilities. Madison worked with the hospital to install a fiber optic network that provides an unlimited potential for bandwidth-rich applications like those needed to expedite the analysis and transfer of medial diagnostic information to larger hospitals and clinics in the region. Timely readings and diagnoses increase the effectiveness of the hospital's treatment and ultimately improve the quality of life of patients.
The telco also collaborated with a local school district to provide a fiber connection which delivered enhanced data services enabling the school to pursue online education opportunities for students residing throughout its challenging rural environment. The design was even promoted by the Illinois Telephone Association as an example of how its members can create effective public-private partnerships to address community needs. SkyLine Membership Corporation in North Carolina also demonstrated a commitment to education in its community with the awarding of $55,000 in grants funding SMART Board Interactive white board systems which help teachers bring more interactivity and collaboration into the classroom. The telco has been praised by its community's students, teachers and school administrators for helping to transform its schools into 21st century learning environments.
Despite the many challenges of serving these areas-notably the extreme high-cost of deploying network infrastructure over sparsely populated and often rugged terrain-local telcos are committed to delivering the reliable, high-quality broadband at affordable rates. To do this, small telcos rely on a proven system of cost-recovery mechanisms to ensure they are able to recoup the large financial investment necessary to build and maintain the networks that connect rural communities to each other and to the world.
A federal plan to expand broadband access to all Americans, known as the national broadband plan, threatens that cost recovery system and undermines small telcos' own efforts to make broadband available throughout their service territories-and to continue the initiatives that create jobs and improve the economic standing of rural communities. The national broadband plan puts rural businesses at the risk of an extreme competitive disadvantage. As written, the plan dismantles the cost recovery mechanisms that rural telcos rely on to build and maintain their broadband-capable networks. It also proposes to fund broadband speeds in rural areas that are 25 times slower than those in urban areas. Small businesses that rely on affordable high-speed broadband should support their local communications provider's efforts to alter the course of the national broadband plan. Doing so will help ensure businesses receive the broadband services they need to keep rural America a vital engine for innovation and prosperity.
Shirley Bloomfield is Chief Executive Officer of the National Telecommunications Cooperative Association, which represents more than 560 locally owned and controlled telecommunications cooperatives and commercial companies throughout rural and small-town America. Reach her at sbloomfield@ntca.org.
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Sometimes No is the Best Way to Earn Future Business
By Erin Verbeck
Recently my husband and I experienced the epitome of poor customer service during an already stressful time when we were moving, selling one home and purchasing two others. This story is too good not to share as it has such a great lesson for small business owners.
We had been scheduled to close on an income property for four weeks. Knowing the date we were closing, we made several arrangements to have the property all set up to move in the day we closed. Not only had we loaded the Uhaul for my younger sister to move across country to begin a new life in the property, but we’d scheduled utilities to be set up so she could hit the ground running when she started her new job the following Monday. My parents had even made the 12 hour trip to town to help with the move.
The morning of the scheduled closing, we heard from our mortgage broker (via email) that there was an issue with the underwriter. Not only would we not be closing as scheduled, she didn’t know if we would be able to close at all. While both my husband and I were available via cell phone, the mortgage broker emailed us the devastating news. When asked why we just now heard there was an issue, the broker replied, “I don’t know. I guess you need to find another lender.”
By this point, the steam was rolling out of our ears. Not only did I have an irate sister whose entire life possessions were in a uhaul, we were closing on another property in one week that required the close of this property to go through on schedule.
Immediately my husband called a highly regarded mortgage broker, Rodney, who provided exceptional service in the past. Unfortunately because this move was a relocation, we were unable to work with him on this purchase.
After hearing the voice mail my husband left, Rodney knew he wasn't the guy to help us in this situation.
Yet despite it being an incredibly busy time for refinancing and an undoubtedly hectic schedule, Rodney promptly called us back to explain why he wasn't the guy for us right now and why we should stick with the existing mortgage broker in this situation.
Not only did Rodney solidify his expertise by saying no, he guaranteed a referral from us when any of our friends are looking for a mortgage broker. In my experience, 9 out of 10 times I don’t get a call back when someone decides my need isn’t one they can fulfill. Yet Rodney did and despite not solving our problem, he proved that he was worthy of our future business.
The lesson here, just because you're not the right small business for a client today doesn't mean you won't be tomorrow. You never know who your clients are connected to and who else they may refer to you. I know I appreciate it when someone is upfront and says no right away instead of overpromising and later failing to deliver. And I also appreciate a referral of who can help me.
As small business owners, you should be just as happy and interested to help a client whose business you're earning today as you are a client whose business you may earn in the future. Turn today’s “I’m sorry, but I can’t help you and here’s why” into a future “Yes, I can certainly help you.”
About Erin
If you see the red and blue flashing lights in your rear-view mirror don't panic. It's just Erin Verbeck, our Chief Joy Officer and resident brand police. She’s passionate about brands maintaining consistency in their identity and isn’t afraid to give them a brand sobriety test. With a MBA from one of the top business schools in the country and 10 years combined experience at Sabre Holdings, the parent of Travelocity as well as a top regional advertising agency, Erin has the chops to weigh in on all things marketing. She and her partner, Sarah Petty, give small business marketing ideas at their company, The Joy of Marketing.
New here? Take the Guided Tour. Like what you see? Subscribe.
Recently my husband and I experienced the epitome of poor customer service during an already stressful time when we were moving, selling one home and purchasing two others. This story is too good not to share as it has such a great lesson for small business owners.
We had been scheduled to close on an income property for four weeks. Knowing the date we were closing, we made several arrangements to have the property all set up to move in the day we closed. Not only had we loaded the Uhaul for my younger sister to move across country to begin a new life in the property, but we’d scheduled utilities to be set up so she could hit the ground running when she started her new job the following Monday. My parents had even made the 12 hour trip to town to help with the move.
The morning of the scheduled closing, we heard from our mortgage broker (via email) that there was an issue with the underwriter. Not only would we not be closing as scheduled, she didn’t know if we would be able to close at all. While both my husband and I were available via cell phone, the mortgage broker emailed us the devastating news. When asked why we just now heard there was an issue, the broker replied, “I don’t know. I guess you need to find another lender.”
By this point, the steam was rolling out of our ears. Not only did I have an irate sister whose entire life possessions were in a uhaul, we were closing on another property in one week that required the close of this property to go through on schedule.
Immediately my husband called a highly regarded mortgage broker, Rodney, who provided exceptional service in the past. Unfortunately because this move was a relocation, we were unable to work with him on this purchase.
After hearing the voice mail my husband left, Rodney knew he wasn't the guy to help us in this situation.
Yet despite it being an incredibly busy time for refinancing and an undoubtedly hectic schedule, Rodney promptly called us back to explain why he wasn't the guy for us right now and why we should stick with the existing mortgage broker in this situation.
Not only did Rodney solidify his expertise by saying no, he guaranteed a referral from us when any of our friends are looking for a mortgage broker. In my experience, 9 out of 10 times I don’t get a call back when someone decides my need isn’t one they can fulfill. Yet Rodney did and despite not solving our problem, he proved that he was worthy of our future business.
The lesson here, just because you're not the right small business for a client today doesn't mean you won't be tomorrow. You never know who your clients are connected to and who else they may refer to you. I know I appreciate it when someone is upfront and says no right away instead of overpromising and later failing to deliver. And I also appreciate a referral of who can help me.
As small business owners, you should be just as happy and interested to help a client whose business you're earning today as you are a client whose business you may earn in the future. Turn today’s “I’m sorry, but I can’t help you and here’s why” into a future “Yes, I can certainly help you.”
About Erin If you see the red and blue flashing lights in your rear-view mirror don't panic. It's just Erin Verbeck, our Chief Joy Officer and resident brand police. She’s passionate about brands maintaining consistency in their identity and isn’t afraid to give them a brand sobriety test. With a MBA from one of the top business schools in the country and 10 years combined experience at Sabre Holdings, the parent of Travelocity as well as a top regional advertising agency, Erin has the chops to weigh in on all things marketing. She and her partner, Sarah Petty, give small business marketing ideas at their company, The Joy of Marketing.
New here? Take the Guided Tour. Like what you see? Subscribe.
Categories:
customer service
A memorial Brag Basket
Even though I call this the Brag Basket, it's not really about bragging. It's about sharing. I started this so you can introduce yourself, share some good news, or congratulate a friend.
The basket is open all weekend, from October 1-3, 2010. Because we are having a memorial service for my father this weekend, I invite you to share a memory of someone important to you, as well as any regular brags.
Speak up and add yourself or another deserving soul in the comments. We all cheer, and everyone feels great. It lets you meet each other a bit. Reading each others' stories brings us a bit closer to being a community.
How does it work? You write a comment on this post, email me, tweet me, or comment on Facebook. You tell something great about your week, or you give applause to someone who did good stuff this week. Or you celebrate something wonderful that you tried that failed.
This is not an ad. (I delete the ads.) It's a conversation with friends. So jump in. And remember to cheer for each other.
New here? Take the Guided Tour. Like what you see? Subscribe.
The basket is open all weekend, from October 1-3, 2010. Because we are having a memorial service for my father this weekend, I invite you to share a memory of someone important to you, as well as any regular brags.Speak up and add yourself or another deserving soul in the comments. We all cheer, and everyone feels great. It lets you meet each other a bit. Reading each others' stories brings us a bit closer to being a community.
How does it work? You write a comment on this post, email me, tweet me, or comment on Facebook. You tell something great about your week, or you give applause to someone who did good stuff this week. Or you celebrate something wonderful that you tried that failed.
This is not an ad. (I delete the ads.) It's a conversation with friends. So jump in. And remember to cheer for each other.
New here? Take the Guided Tour. Like what you see? Subscribe.
Categories:
brag basket
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