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Word of Mouth Marketing? Try World of Mouth!

Word of mouth is nothing new.  Many of our small business clients tell us they don’t need to “advertise” because word of mouth is their best tool.  The problem with word of mouth?  You have no control and until now you really didn’t know WHAT was being said (good or bad).  But the Internet has changed all of that.  Today your customers are talking about you, your business, your products and services…online.  Here is what you need to know.

by Herb Lawrence, ASU Small Business and Technology Development Center…Pushing Word of Mouth into Hyper Drive from the Delta to the Ozarks.

Back in the “dark ages” (during the 1980s) we used to say that if a customer had a good experience with your business they might tell 7 of their friends, but if they had a bad experience they would tell an average of 21!  Today your customers are going online with reviews, comments on their social media sites, and more telling everyone about their experience with your company.  Good and bad.  7 and 21?  Try thousands.

So What do Customer Online Reviews Mean for Your Business?

The Internet allows people to share their experiences with your business online to literally hundreds, even thousands of others.  The comments they make about you also influence others and can mean the difference in whether that potential customer comes to you…or your competition.  So who are these word of mouthers?  In today’s blog I have included several articles from eMarketer about the explosion in online discussions about businesses, what type of customers are using online sites to share and whether it actually influences others to make decisions.

Women and millennials are significantly more likely to make purchase decisions based on what others are saying.  If these are the people you want to connect with, it is worth taking some time to see how Digital Word of Mouth works and who is listening.

I also included an infographic published by Hubspot with some statistics about e-commerce, social media influence on consumers and what it means to your bottom line. Read the entire article “71% More Likely to Make Purchased Based on Referrals” by Mike Ewing.  What you need to know about e-commerce, your online customers and how they share.

Ecommerce Marketing Software – All-In-One Inbound Marketing Software
Word of Mouth is nothing new.  People have been sharing their experiences about your business way before the internet but instead of talking to one neighbor across the backyard fence they are able to reach thousands across their virtual fence.

If you want to learn more about how online marketing can help your business contact our consultants, Laura Miller or Robert Bahn at the ASU SBTDC (870) 972-3517 or email us at asusbtdc@astate.edu.  Our consultants provide FREE and confidential assistance to entrepreneurs and small businesses on a wide variety of topics.  Find out more about how we can help your business thrive online or off.  For more information see ASU SBTDC Consulting Services and get involved today.

The ASU SBTDC also offers a wide variety of low-cost training workshops to help our small businesses keep their marketing on track.  We will be offering:

• “Give them the Pickle! Customer Service in the Digital Age” on Thursday, February 16th from 1-4 pm at the Batesville Area Chamber of Commerce,
• Mobile Marketing on Thursday, February 23rd from 1-4 pm in Jonesboro, and
• Introduction to Social Media Marketing in Mountain Home, Tuesday, February 28th from 1-4 pm at the Baxter County Library.

For more information about these and other workshops visit our ASU SBTDC January-February Training Calendar and register today!. 

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Step by Step Guide to Create a Killer Pinterest Marketing Strategy

We received a lot of comments, shares, Google +s and thumbs up on our Monday blog article about the new Social Site Pinterest.  Since it was posted, several large bloggers have weighed in as well including Hubspot with an “Ultimate Guide” to using Pinterest for your business.  With so much interest, we decided to follow-up and pulled together some great, easy to read resources that will help you put Pinterest to work for your small business.

by Herb Lawrence, ASU Small Business and Technology Development Center…PINNING unique entrepreneurs every day from the Delta to the Ozarks

With so much interest right now in the online marketing world about the new social site Pinterest and discussions about how to leverage it for small business marketing, we wanted to share some of the “how-to” articles.  If you read our Monday article “Pinterest…What Does It Mean for Your Arkansas Small Business” we introduced our readers to this remarkable site and discussed how it could help businesses with visually appealing products reach a new audience. 

Since Monday, several “big-time” bloggers have weighed in on Pinterest, including Hubspot with a lot of great recommendations of their own that are worth sharing.  The Hubspot article,  “The Ultimate Guide to Mastering Pinterest for Marketing” by Pamela Vaughan gives a very concise, step by step guide to leverage Pinterest that is worth reading.  One point that is made that is extremely important for Pinterest is the ”Pinterest Ettiquette” section and her comment:

Pinterest Etiquette

“As with any site that is built around content curation, ‘pinners’ (Pinterest users) must be especially cognizant of citing the sources of their individual pins. And while Pinterest makes no direct statement that marketers cannot use the social network for promotional purposes, the site does discourage blatant self-promotion:

“Avoid Self Promotion | Pinterest is designed to curate and share things you love. If there is a photo or project you’re proud of, pin away! However, try not to use Pinterest purely as a tool for self-promotion.”

Couple this with Pinterest’s lifestyle vision, and what its means is that marketers need to find creative ways to promote their brand on the network and truly jive with its vision and user base. In other words, businesses should use the social network to showcase the lifestyle their brand promotes.”

In other words…using Pinterest to just say “BUY MY JUNK” is a non-starter!  Get creative and you will find Pinners who will love what you have to offer.

To read the entire Hubspot article as well as several other recommendations AND some examples of comments going around the “Twittersphere” see our Storify section below.

With over 3.3 million users so far this may be the rising social site of 2012 that can really help your business.  Are you using Pinterest for your small business?  We want to hear from you.  Leave comments, tell us your experiences and you opinions.  We would love to have you share your thoughts with our friends on Facebook as well.  Join the ASU SBTDC on Facebook and let us know what you think.

Want to learn more about leveraging Internet and social media marketing into your existing marketing plan?  Contact our ASU SBTDC business consultants, Laura Miller or Robert Bahn (870) 972-3517 or email them at asusbtdc@astate.edu and see how they can help.

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Pinterest, Another Social Site…But Can It Help Your Small Business Online?

Just when you thought it was safe to go into the virtual water…another social media marketing site is getting a lot of attention!  But before you say you don’t have time for yet another online time-suck.  This may be a a tool that can really put your business out in front of potential customers.  See what Pinterest is…what users are saying…and whether it is right for your particular small business.

by Herb Lawrence, Arkansas State University Small Business and Technology Development Center…Helping Small Businesses Evaluate Marketing Opportunities from the Delta to the Ozarks.

Oh no! Another social media site?   Before you hit that back button though answer these questions:

1. Does my business market to women?
2. Does my business have products or services that are visually appealing?
3. Would I like to create a buzz online about my products or services?

If you answer YES to these questions then take a little time to explore Pinterest.  Pinterest is a visual bulletin board for the Web that thrives on beautifully simple images that speak to viewers and…can get them interested in learning more about your business.  We have pulled together some brief articles, videos and other information about Pinterest to help you get a better handle on this site and why it may be just the ticket to grow your business.

Pinterest What is It? What Can It Do For My Small Business?

So, what do you think?  Are you currently using Pinterest? What makes it work for you?  We want to hear from you, leave us a comment and we will share your thoughts with our readers.

Of course before you jump headlong into “another social media site”  take the time to:

• Do your homework – take time to research Pinterest, how it is used, what seems to work and what doesn’t
• Join up as a user and take time to just watch what others are Pinning before creating a “business” account
• Decide how (or whether) it can fit into your current marketing efforts
• Whether you have the TIME to get involved and market effectively.
• Whether your product or service is visually appealing enough to create a buzz.

 So check out Pinterest and see if it is a fit for your business!

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Can the Internet REALLY Help Arkansas chiropractor Connect With New Patients?

Finding the Right Information at the Right Time for Good Decision Making.  The ASU Small Business and Technology Development Center can provide you with the resources you need.  In today’s article I wanted to share some basic research sources we found to help one local Chiropractor trying to determine whether Internet Marketing is right for him.  Here’s what we found.

by Herb Lawrence, ASU Small Business and Technology Development Center Director…Sharing resources with small business owners from the Delta to the Ozarks.

Although I realize that many of you who read this are not in the Chiropractic field, the information can be very helpful to anyone in a professional service, health care field to get a better idea of the tools available for Online Marketing.  I posted this information for several reasons:

First: We had been contacted by a local chiropractic office asking for information about Online Marketing for his clinic resulting in a search of resources to share that we felt were worth passing on through the blog.

Second: I am getting “addicted” to Storify as a great way to find, assemble, and provide comments on topics from blog site to pictures, tweets to video that can be easily embedded into our blog.

So, here’s our report:

Current Trends in Online Marketing for Chiropractors

Want to know more about the research assistance that is available to your small business through the ASU SBTDC?  Contact one of our Business Consultants, Laura Miller or Robert Bahn at (870) 972-3517 or email them at asusbtdc@astate.edu. and learn how we can help.

Do you use Storify?  If so what’s your thoughts?  I would love to hear from you.  Are you a Chiropractor leveraging Internet Marketing?  If so what tools are you using?  Share it with us and we will pass it on to our readers.  AND…Have a great weekend.

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Arkansas’ Premier Business Service Provider

A lot of our clients have told us “The ASU Small Business and Technology Development Center is the best kept secret in Arkansas!”  or “Why didn’t I know about what you guys do when I opened my business three years ago?”  Still other seem to confuse us with the U.S. Small Business Administration so I thought this was the perfect opportunity to let all of our readers better understand exactly what we do and how we can help you launch a new business or grow your existing one.

by Herb Lawrence, Arkansas State University Small Business and Technology Development Center, Helping Small Businesses Grow From the Delta to the Ozarks

Contact our business consultants, Laura Miller or Robert Bahn at (870) 972-3517 or email us at asusbtdc@astate.edu and find set up an appointment to meet to leverage the resources available to you through the ASU SBTDC.  For more information about our consultants go to ASU SBTDC Business Consultants.

We also provide a wide variety of low-cost training workshops during the year on a number of topics with information you can take back and put to work for you immediately.  See our Small Business Training Calendar and get registered today!

Are you on Facebook?  Join the ASU SBTDC Facebook page and claim $600 worth of  online training workshops at NO CHARGE just for “liking” our page! These eCourses covering 20 different topics from Accounting to Marketing, Craft Businesses to Business Plans.  Take advantage of these powerful courses at no charge as our gift for liking our page.

Not in Northeast or North-Central Arkansas?  See the Arkansas SBTDC Website to find the center nearest you.  with 7 offices around the state we have consultants nearby ready to help you with your business needs.

Outside of Arkansas?  Not a problem we have centers in every state just go to the ASBDC website to find the SBDC nearest you.

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The Social Media Blues and How to Cure Them

Our new Social Media Marketing Intern, Cierra Lee has written her first article  for the ASU Small Business Blog and is on her favorite subject: Social Media Marketing.  Don’t let the title scare you…there is no virus to get on your computer…instead she means mistakes your small business may be making with Social Media and…the CURE…

by Cierra Lee, Marketing Intern for the Arkansas State University Small Business and Technology Development Center…Serving up the Cure for Social Media Blues from the Delta to the Ozarks.

If your business is not reaping the rewards of social media marketing and all its glory, you may have contracted something I would like to call the social media virus. It’s a silent killer of most small businesses, quickly leading a company’s internet presence to a painful demise.   Though sneaky and often undetectable, the social media virus has several tell, tell symptoms in which you can use to determine your business’s social media marketing effectiveness.

V:  Symptom: Low Visibility

Causes: There is no way you can play the game if you’ve never even came up to bat. How can users connect with you if you’re not on the radar?

Treatment: Get connected. Set up your company Facebook, Twitter, Google+ and any other social media sites relevant to your company’s inbound marketing plan A.S.A.P.

I: Symptom: Little to No  Interaction

Causes: Not allowing or fostering conversation among users is tragic. Trust me, if you are not positively engaging users, someone will be sure to inject some negativity.

Treatment: Engage. Companies must enable all the features on their social media websites that allow users to interact with each other as well as with company representatives. Get a blog set up. Ask questions on message boards and encourage feedback to get people talking.

R:  Symptom: Lack of Resources

Causes: Selling is the goal but too much promotion can seem pushy. Social media websites are fun places for people to interact and share information (for free). Not being a reference or providing resources relevant to your company’s culture can make your page seem just like another advertisement.

Treatment: Provide users with resources. If you are a pet store, provide links to the coolest dog parks or tips for preparing for veterinarian visits. Establish your company and your site manager as an expert in your field. Users will see this as caring and useful, and want to revisit and, yes, eventually use your products and/or services.

U: Symptom: User Unfriendliness

Causes: Nothing is worse than going on a website and not being able to access quick links or even worse, having to decipher through tons of unorganized and random articles, photos and blogs. 

Treatment: Organize information. Keep in mind that much like in person, your social media site must make a positive first impression. Make sure that links and navigating are user-friendly and that your page is clean and exciting.

S:  Symptom: Failure to Socialize

Causes: The biggest ‘Whoooooa, Nelly!’ of social media marketing is neglect. The only thing worse than not being viral is being dormant. The latest news should not be confused with the oldest news. Who cares about deals you had in 2010? No one even cares about deals from 10 days ago.

Treatment: Socialize (present tense). To avoid being overlooked and long forgotten, set up a schedule to connect with users on your social media sites. Update twice a week at the least with relevant information.

For those of us who have contracted the social media virus, don’t worry! There is still hope. So before just rolling over and dying, here are few small business social media success stories. These businesses have managed to survive and thrive on their social media networks. Take a quick look at this article by Phil Mershon from Social media Examiner “9 Small Business Social Media Success Stories”  that should provide some inspiration!

Prevention, however, is the most effective defense against the social media virus. You must stay on top of social media trends in small business in order to ensure that your target market stays connected with you. Let the Arkansas Small Business and Technology Development Center be your doctor and sign up for Small Business training sessions today in our January-February  Small Business Training Calendar.  

Introduction to Social Media Marketing workshops coming to the ASU Newport Marked Tree campus in Marked Tree, AR on Thursday, February 2nd, and the Baxter County Library in Mountain Home on Tuesday, February 28th.  Click on the links for mre information or to register.

And take a look below for a few resources to make sure that your social media marketing efforts remain healthy and strong.  Nice article with resources  Social Media Trends for Small Businesses from Social Media Examiner.

Want to learn how the Arkansas State University Small Business Center can help improve your Online Marketing?  Contact one of our business consultants, Laura Miller or Robert Bahn (870) 972-3517 or email them at asusbtdc@astate.edu and find out how to take advantage of our free and confidential consulting assistance.

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Innovative Ways to Leverage QR (Quick Response) Codes for Your Small Business

Everywhere you look today you are seeing these squiggly little postage stamp signs, maybe you have even scanned some of them. But have you taken time to see how these codes can actually enhance your small business marketing efforts by combining off-line with on-line marketing? You will be surprised how easy (and free) this tool is to create and implement into your overall marketing strategy. We provide some handy resources today that you will want to learn about.

by Herb Lawrence, Arkansas Small Business and Technology Development Center, Scanning Small Business Success from the Delta to the Ozarks

Ain’t technology wonderful? The challenge for many small businesses though is to weed through the maze to learn what innovations can actually help their business grow. You can take these squiggly lines and make them an important part of your marketing team. Here are some articles we liked that will:

• Introduce you to QR Codes, 
• How to create them, 
• Where to put them and, 
• How to leverage them to grow your business.

Be sure to see the link to TrakQR a local Jonesboro, Arkansas business that has developed dynamic QR codes that will really make your marketing soar!

Want to learn more about how QR Codes can be integrated into your marketing strategy? If you are in the Northeast or North-Central Arkansas area contact the ASU Small Business and Technology Development Center consultants. Laura Miller, lead consultant or Robert Bahn our business consultant can help you put these tools to work.  All of our small business consulting is free of charge and completely confidential.  To connect with our consultants see our Small Business Consultant page or call us at (870) 972-3517 or email asusbtdc@astate.edu.

In Arkansas but not in our area? We have centers at 7 Universities around the state.  See our Arkansas SBTDC website to locate the center nearest to you.

Not in Arkansas? No problem we are part of a national association of Small Business Development Centers located throughout the country. To find the center nearest you go to our ASBDC website and put our experts to work for you.

What Arkansas Entrepreneurs Need to Know About Starting an Online Business

What could be an easier home-based business than to start an e-commerce, Online enterprise?  Talk about a “no-brainer”!  Afterall, all I need is a computer and an internet connection right?  Well before you rush out into the “virtual” market place take a minute to see what my friend Matt Smith, co-founder of BusinessPirates.com has to say.

by Herb Lawrence Arkansas State University Small Business and Technology Development Center Director…Helping Entrepreneurs With Business Decisions from the Delta to the Ozarks.

Over the last 6 months I have been a regular visitor to Kenneth Brown’s  Blog Talk Radio Show, Web2Connect.  Ken’s show delivers practical  marketing & sales information any small business can use.  If you aren’t tuning in check his website out and join me!

The other neat part of being a panelist on his radio show is that it allows me to make networking connections with professionals in many different fields from across the country.  Last Wednesday I “met” Matt Smith, co-founder of BusinessPirates.com a company in Scottsdale, Arizona created to help marketing and sales professionals through online video training.  I asked Matt if he would like to be a guest writer to our little blog and he graciously agreed.

In this post Matt discusses his favorite topic “Launching Online Businesses”.   Matt shares some great information that anyone considering starting an online, e-commerce business needs to know about before they launch.  Thanks Matt!

5 Tips for Starting an Online Business

by Matt Smith, BusinessPirates.com

Starting an online business is hard. Lower startup costs mean increased competition. Many entrepreneurs have misconceptions when launching their online business. Here are 5 tips that will help you avoid many of the common misconceptions and mistakes.

  1) Get the Website up fast and for under $1,000

 Most first time online entrepreneurs obsess about their website. The reality is a website is a living breathing asset. It grows and evolves over time. Just get the thing up fast and for cheap. This will save you from spending too much time and money on the first version. Once a domain is actually live Google starts scanning and indexing it so the sooner you are live the better. NEWSFLASH: No one cares about you or your site. Entrepreneurs are optimistic by nature and believe once they launch hundreds will come flooding to their site with cash in hand. The reality is no one will come to your site. So get the darn thing up already, stop obsessing about the button color, and start marketing that baby!

 2) The average conversion rate for an e-commerce site is 1%

 A conversion rate is simply the number of buys divided by the number of visits. For example if 100 people come to your site only 1 person will buy. Now that you know that you can begin to project traffic and sales for your site. Getting 1,000 people to your site needs to be your first goal. Launch the site then spend the rest of your time trying to get people to your site. You will learn what works and what doesn’t.

3) Use Email as Your Primary Sales Channel

 I love using email in the earlier stages of an online venture. If you can sell via email that means you can sell remotely and scale the business. I even suggest “selling” your product before you ever invest a dollar. Email 30 prospects and pitch them your product. If the response is good you can move forward. If the response sucks then maybe your idea sucks

 I recommend using Gmail for email sales because it is Free. Here is a Free Gmail Training course from my company BusinessPirate.com.

 4) Start Marketing BEFORE You Launch

 Marketing an online venture is probably the hardest part. (beyond offering something people actually want) Therefore start marketing right away. Claim your Twitter, Facebook, and YouTube profiles and start marketing. Use Timely to schedule your tweets and Facebook updates. Create a few rough YouTube videos with a link to your site in the description. Throw up a LaunchRock page to start collecting emails. Here is what we are doing with our other site VideoLark.com.

5) Your developer is KEY!

 If you are non-technical like myself you need to link up with a reliable developer. A web development services firm can work but it will get expensive fast. Start networking and asking friends about developers they have used in the past. Use LinkedIn or Meetup to find events where lots of developers hang out together. Like I mentioned earlier the site will evolve and grow over time so having the right reliable developer will make your life ten times easier.

 PRO TIP: Test your developer before committing to them. Give them a small project like the above page and give a deadline. If they pass the test move forward with another larger test. Keep testing and use small sprint projects before committing.

 PRO TIP: Use Keynote or Powerpoint to mock-up EVERY PAGE of your website. Most rookies have very limited info when contracting their first developer. If you mock-up every page you will see how much work is needed. Keep the first version simple. (I use Keynote and it allows you to make a click-able prototype of your site fast)

 Good luck!

Matt Smith is the co-founder of BusinesPirate.com. He was previously one of the BizDev guys at AppSumo and is currently getting his MBA from Thunderbird School of Global Management. His current venture, Business Pirate, helps educate sales and marketing pros through online video courses. When he is not playing on the computer he likes to exercise and eat raw fish in sunny Scottsdale, Arizona.

Nice post for anyone considering jumping into the Online marketing arena.  If you liked what Matt had to say, let me know and we will invite him to contribute other insights.  Just leave your comments below!

So, think online marketing may be right for you but not sure where to go now?  Contact our business consultants, Laura Miller or Robert Bahn for free, confidential consulting assistance.  Our experienced professionals can help with everything from feasibility studies to market research, business plan development to loan financing, and much more.  To find out more about the ASU Small Business and Technology Development Center’s free, confidential assistance visit our ASU SBTDC Consultants page and get started!

Are You Still on the Fence About Online Marketing…Some Stats You Need to Know

Small business owner in Arkansas? Not sure what this Internet Marketing is all about or if it is even worth wasting your time on?  Well here are a few statistics that might make you want to learn more, especially if you are a local business with local customers.

by Herb Lawrence Center Director Arkansas State University Small Business and Technology Development Center…Connecting with Entrepreneurs Online from the Delta to the Ozarks

 Running a small business is always a challenge and finding ways to connect with potential customers takes work.  You don’t have time to learn about Internet Marketing?  After looking at these statistics you may realize you don’t have time NOT to learn about Online Marketing!

10 Statistics Arkansas Small Businesses Need to Know

Are Consumers REALLY using the Internet for Business?

• During 2012 Internet users in the United States will grow by 3.1% that is over 239 million Americans and represents 75.6% of our total population!  Your customer and potential customers are Online…should you be?  With more than 3 out of every 4 Americans online the answer is probably YES
• 88.1% of all Americans online will research information about products or services online in 2012.  Will they find you?  And nearly 84% will make at least one purchase online this year.
• Your customers will be looking for you on their mobile devices in 2012…mobile internet users will hit 113.9 million in 2012 that is a 17% increase from 2011 and over 78 million will be MOBILE SHOPPERS.  Will they find your business on their smart phones or tablets?
• The fastest growing area of mobile will be tablets. Tablet users will hit 54.8 million in 2012 a 62% increase from 2011 and they will be using their tablets to find you.
• Social Media will still be important to small businesses. 2/3rds of all internet users use social networks and 90% of social network users will be on Facebook.  What is your social media marketing plan?  In the U.S. alone, Facebook will hit 143.4 million users in 2012, up 8.2% from 2011.

The statistics above came from a blog article dated January 5th from Hubspot.com blog “25 Eye-Popping Internet Marketing Statistics for 2012″.  Click the link to read all 25 stats and what they will mean for your business.

So those are interesting but I am a small local business why should I care?

• 97% of internet users in the U.S. get shopping information online and 51% of them say that they “Search/Shop Online…Purchase Offline!”  That means they are looking for the information before they get in their cars and come to your business.  But only if they see you when they SEARCH!
• 73% of all Online activity is “Related to Local Information”
• 70% of all online searchers will use Local Search to find OFFLINE businesses like yours
• For EVERY DOLLAR consumers spend Online…they spend $5-6 Offline that was INFLUENCED BY ONLINE SEARCHES!
• In one month Google logged nearly 3 BILLION Google Searches containing LOCAL terms (i.e. Nike Shoes in Batesville, AR, or Dentists 72501). 

The Local Search statistics above were taken from a blog by ezlocal.com  “Some Useful Local Search Statistics”  click on the link to read more information about local search.

The marketing take away for local small businesses in Arkansas is…You can’t avoid the Internet…well you can but your competition isn’t.   Your customers are using the internet, especially their mobile devices to find information about you, your business, your products or services and if you haven’t put Online Search Marketing as part of your overall marketing plan in 2012 they will find your competition.

Would you like to know more about how your small rural business can leverage Online Marketing, especially Local Search Marketing? 

Then join the Batesville Area Chamber of Commerce, Mainstreet Batesville, the ASU Small Business and Technology Development Center and our sponsors on Thursday, January 19th for “Get Listed Locally..How Small Rural Businesses Can Claim their Business Online” and make 2012 a profitable year for online search.  We will hold the 3 hour seminar twice on January 19th.  1-4 pm and again 6-9 pm at the Batesville Chamber.  Seating is limited to 15 attendees per session so reserve your seat today.  For more information about the seminar or to register see our web page Get Listed Locally and sign up now.

The ASU SBTDC also offers FREE, confidential consulting assistance to small businesses on a variety of topics, including Online Marketing and Local Search.  Contact our consultants, Laura Miller or Robert Bahn at (870) 972-3517 or email us at asusbtdc@astate.edu to see how we can work with your small business.  For more about our consulting assistance see our Business Consulting Services web page.

2012 is the year Arkansas small businesses need to claim their place Online to market to today’s consumers.  We can help you learn how!

What Can Arkansas Small Businesses Expect in 2012?

Forget those Mayans and their predictions for the end of the world in 2012, business experts have their own “scary” observations of what they think will be coming this year.  Uncertain economy, the search for funding, Technology explosions, mobile marketing via smartphones & tablets, social media (I know, it just will not go away) and the “Solo-preneur”.  See what a group of  business experts have predicted will drive small business success in 2012.

by Herb Lawrence, Arkansas State University Small business and Technology Development Center Director…sharing prognostications about small businesses from the Delta to the Ozarks.

Earlier last week I posted an article taken from the “gurus” of Internet marketing about what is coming down the pike in 2012 and what it will mean for small businesses.  I also made two promises:

• I would continue to share other predictions about 2012 and what it will mean to small business
• I would NOT make any predictions of my own.

So how do the predictions of my talking head sound to you?  Are these industry “thought leaders” (love that term) on the mark or all wet?  Love to get your opinion.  What do you think will be the “BIG THING” for small business success in 2012?  Stay tuned for our an upcoming blog where we talk about that term “Solo-preneurs” and how technology may open up a wave of low-cost start-ups from home.

What Arkansas Entrepreneurs Need to Know Before Starting a Home Based Business

Thinking about starting your own business in 2012 but not sure what direction to take?  For many Arkansans planning to strike out on their own opting to go the “Home-Based” route may be a good option and here is why.  In today’s ASU Small Business Blog we provide readers with some valuable resources to help them determine whether a home-based start-up makes sense for them.

by Herb Lawrence, Arkansas State University Small Business and Technology Development Center.  Helping micro-businesses launch successfully…from the Delta to the Ozarks.

Last week we posted a blog about “What Home Based Businesses Need to Know about Insurance”, written by our UALR SBTDC Business Consultant,  Whitney West.  Great practical article that home based business owners need to keep in mind about insurance requirements.  It was read by a lot of folks and shared widelyvia Facebook and Twitter.  Thanks to everyone who shared or retweeted the post!  

Apparently there is a lot of interest by Arkansas entrepreneurs in this option to a “brick and mortar” start-up.  I thought it would be worthwhile to provide some additional resources to anyone considering launching the next “Fortune 500″ company from their study.   Something appealing about going to work in your pajamas!

Here are some great resources that anyone planning to launch from home needs to consider BEFORE they jump in.

So, have you started a home based business?  How is it working out?  We would love to hear from you and have you share your thoughts.

Want to know more about how to launch a new business in 2012 (home-based or other)?  Contact the ASU Small Business Consultants for information.  Our free and confidential consulting assistance can help you go through the planning process.  For more information about how our consultants can help you, go to ASU SBTDC Consultants Page and see how Laura Miller or Robert Bahn can help you start.

We also offer a wide variety of training workshops including Starting a Business in Arkansas.  Make plans to attend our Starting a Business in Arkansas workshop on Tuesday, January 17th from 6-9 pm on the Arkansas State University campus and get the facts you need before you launch.  

For more information about Starting a Business in Arkansas workshop, visit our January-February Workshop page and get registered to improve the odds of a successful launch.

Marketing Major Joins ASU Small Business Team as Social Media Marketing Intern

The Arkansas State University Small Business and Technology Development Center has been fortunate to work with a number of very sharp interns from the College of Business over the years.  These undergraduate and MBA candidates have helped our consultants on a variety of topics  from market research and feasibility studies to financial analysis and loan packaging.  Several have gone on to work in banking, marketing, and other fields due to the time they spent with our small business owners.   This spring we have a new marketing intern, Cierra Lee who will be working with clients interested in improving (or launching) Internet marketing plans, especially in social media. 

Welcome Cierra Lee!  Learn more about Cierra and how the ASU SBTDC can help your small business with your online marketing needs.

by Herb Lawrence, Arkansas State University Small Business and Technology Development Center Director…helping small businesses connect with customers, online, from the Delta to the Ozarks.

I interviewed Cierra just before the Christmas Holidays and immediately realized that we were going to have a great new intern for the Spring, especially when I learned how interested she was to work with small businesses in social media marketing! 

Welcome to the ASU  SBTDC team Cierra!

Here’s a little about Cierra and her interests:

Cierra Lee, Social Media Marketing Intern ASU SBTDC

I am Cierra Lee, a graduating senior at Arkansas State University from Pine Bluff, Arkansas majoring in Marketing Management.  I have aspirations to become a Marketing Manager for either a fashion-oriented business in hopes to branch off into brand management or work within the marketing department of a non-profit organization. I wish to eventually start my own consulting business within the fashion industry and a college preparatory after school program for high school students in at risk communities. 

I applied for the Social Media Internship with the Arkansas Small Business and Technology Development Center (ASBTDC) this spring after hearing what a great learning opportunity it was from past interns and Dr. Shane Hunt, ASU College of Business Marketing Professor. I am aware of the increasing number of businesses who would like to reach their customers through social media’s exponentially growing fan base. I am excited to consult with businesses that are unfamiliar with the territory and who seek assistance in properly implementing social media marketing into their overall marketing plans.  I am equally excited to learn more about social media network development, market research, and business proposals among many other offerings within the ASBTDC Internship program here at Arkansas State University.

Cierra will be working with us through May 2012 and we want to make sure to give her some real-life experience helping small businesses with their online marketing plans.  Learn more about how you can leverage our free, confidential consulting assistance and put Cierra to work for your small business!

All of our interns work directly with one of our consulting staff when assisting our small business clients to ensure the highest level of assistance.  By working with our interns our staff ensures our interns receive the proper training and that our clients receive only the best assistance possible.

For information about the ASU SBTDC consulting assistance call us at (870) 972-3517 or shoot us an e-mail asusbtdc@astate.edu and put our experienced consultants to work on your team!  For more information about all of our consulting help see ASU SBTDC Consultants.

We also offer a wide variety of low-cost training workshops for small businesses and entrepreneurs on a variety of topics including social media marketing.  Find out about the workshops coming up in January-February at our 2012 Training Calendar and register today!

Welcome Cierra!  Looking forward to working with you to help our small businesses grow…from the Delta To the Ozarks!

Military Veterans: Your Best Source for A Quality Workforce

My smart phone went off early this morning and pushed a report from MSNBC letting me know that the  national unemployment had dropped to 8.2% as we added over 200,000 jobs last month.  Good news that the economy may be finally turning around. 

But the next message I received told a different story…while unemployment in general fell our military veterans,especially younger vets have a substantially higher unemployment rate than the national average.  Here are some stats on current veteran unemployment and what your small business can do about it.

by Herb Lawrence, Arkansas State University Small Business and Technology Development Center…Advocating for our Arkansas Heroes from the Delta to the Ozarks.

In an article in The New York Times, dated 17 December, by Shaila Dewan, “For Youngest of Veterans the Bleakest Job Prospects” our returning veterans are having a difficult time finding civilian work.  Here is an excerpt:

“The unemployment rate for veterans aged 20 to 24 has averaged 30 percent this year, more than double that of others the same age…compared with 12 percent for other vets.

The employment gap cannot be explained by a simple factor like lack of a college degree — despite their discipline and training, young veterans fare worse in the job market than their peers without degrees.

Employers and veterans seem to view each other as alien species. Managers, few of whom have military experience themselves, may fear the aftereffects of combat or losing reservists to another deployment. They may have difficulty understanding how military accomplishments translate to the civilian world.”

 Some specific stats comparing our veterans to the population as a whole:

• 30% of combat veterans 20-24 are unemployed – The New York Times,
• 14% of men in the general population out of work
• 8.6% National Unemployment rate as of November 2011 from Bureau of Labor Statistics
• 850,000 – How many veterans can’t find work right now,
• 250,000 – Number of Iraq and Afghanistan vets back home unable to find employment
• 350,000 – Number of NEW JOBS created in the U.S. in the past 3 months.

The good news is that Arkansas veterans unable to find work is substantially lower than the national average at 13%…the bad news?  It is 5% HIGHER than the state’s current unemployment rate of 8.0%.

 Stats and veteran unemployment infographic from Daily KOS blog dated January 3, 2012.

But, Arkansas small businesses can make a difference.  As the economy picks up, more small businesses are going  to add employees and the IRS is offering Returning Heroes and Wounded Warrior Tax Program to encourage them to hire vets. 

 If hiring a veteran because it is the RIGHT THING TO DO, isn’t enough, how about:

• New credit of 40% of the first $6,000 of wages up to $2,400 for employers who hire veterans who have been unemployed for at least 4 weeks Short-Term Unemployed Veterans,
• New credit of 40% of the first $14,000 of wages up to $5,600 for employers who hire veterans who have been unemployed for longer than 6 months – Long-Term Unemployed Veterans,
• Doubling of existing tax credits for long-term unemployed veterans with service connected disabilities.

As new positions are opened in your small business, make a point to hire a veteran…it is not only the right thing to do to honor these Arkansas heroes, it makes good business sense.  For more information on the Returning Heroes and Wounded Warrior Tax Credit program, download the file below.  Take it to your accountant and put Arkansas Vets to work!

We owe these Arkansas men and women a debt we can never repay, but we can at least make a point to start putting them back to work.  13% unemployment of Arkansas veterans when the state as a whole is down to 8.0% is unacceptable. 

 Do your part and hire a veteran.

The Arkansas Small Business and Technology Development Center is committed to working with our military veterans, especially our Arkansas National Guard and reservists as they return from active duty whether it is to find employment or to start a small business.  Military veterans and their families attend all of our Starting a Business in Arkansas workshops at no charge.  For information about upcoming workshops from the ASU SBTDC see our January-February Training Calendar. 

For information about workshops across Arkansas, visit our Arkansas SBTDC Website and find the center nearest you.

For more information about our assistance programs to Arkansas miliary veterans visit our website at Arkansas Veteran.com. You can also contact our office at the ASU SBTDC (870) 972-3517 or email me at asusbtdc@astate.edu.

Are you a military veteran looking for work?  We want to hear from you!  Share your experiences and thoughts in our comment section below and thank you for your service!

Helping Arkansas Entrepreneurs Turn Dreams into Reality

How our consultants at the ASU Small Business and Technology Development Center helped one Batesville, Arkansas entrepreneur turn his dreams into a new business.  Combining your dreams with our experience to create a winning team for entrepreneurs in North-Central Arkansas.

by Herb Lawrence, ASU Small Business and Technology Development Center Director…Igniting Entrepreneurial Spirit…from the Delta to the Ozarks.

How a Batesville Jeweler Found Help to Launch His New Business

Recently our Lead Consultant, Laura Miller, dropped in to visit with one of her clients in Batesville to see how his new retail store was coming a long.  Her client, Mr. Jonathan Freiert, the proud owner of Jonathan’s Fine Jewelry was happy to report that business was booming and that they had a good holiday season, even in this challenging economy.

Mr. Freiert had a 20 year history working in the retail jewelry business in Independence County and when his employer decided to close his store, Jonathan realized this was the perfect time to open his own retail venture.  When he decided to move forward with his plan, his first stop was to Citizens Bank in Batesville to find out about financing assistance.  The lender contacted the ASU SBTDC to find about assistance for his customer. 

In early January 2011 Laura contacted Mr. Freiert and began working on the project. 

Over the next four months Laura guided Jonathan through the process of:

• Conducting market research to include finding critical information on customers, competitors, local options and industry trends,
• Developing a realistic business plan that would keep him on track and demonstrate his abilities to a lender,
• From industry financial benchmarking data developing a realistic financial budget forecast with pro-forma income statements and cash flow studies,
• Locating options for financing the venture to include start-up costs, cash flow needs, and alternative sources of financing to create a realistic loan proposal for Citizens Ban by leveraging a U.S. Small Business Administration 7(a) loan guaranty.

 During that four-month period, Laura Miller worked closely with the commercial lender as well, answering questions and assisting the loan officer with the SBA paperwork to ensure the proposal moved smoothly though the bank and the SBA.

In April Jonathan learned the loan request had been approved and they would begin the closing process.  By June Jonathan’s Fine Jewelry was open for business and had its Grand Opening/Ribbon Cutting  in July.

The company created two full-time and two part-time jobs in Batesville. In all Jonathan and Laura had a total of 33 sessions with over 24 hours of contact and research time committed to the project by the ASU SBTDC staff. 

Definitely a Good Day’s Work for the ASU SBTDC, helping another business launch!

How can the ASU SBTDC Help You?

If you are in the Batesville area, drop in at Jonathan’s Fine Jewelry and say hello!  or keep in touch with their business by “Liking” them on Facebook at Jonathan’s Fine Jewelry or drop by their website at http://www.jonathansfinejewelry.net/

To learn more about how our experienced consultants to turn your idea into a profitable business…call Laura Miller or Robert Bahn at the ASU SBTDC (870) 972-3517 or email us at asusbtdc@astate.edu to get started.

For more information about our FREE and Confidential small business consulting assistance see our ASU SBTDC Consultant page and turn your dreams into reality.

To learn more about what it takes to get a small business started on the Right Foot…make plans to attend our upcoming Starting  a Business workshop in Jonesboro on Tuesday, January 17th or in Mountain Home on Tuesday, January 31st. 

For more information about the workshops or to register, visit either Starting a Business Jonesboro or Starting a Business Mountain Home and get moving in the right direction today!  Military veterans and their families always attend our Starting a Business workshops at no charge. 

What Should Arkansas Small Businesses Expect in 2012 with Online Marketing?

One fun part about a new year is reading all the predictions that the experts and “gurus” in different fields are preaching as the “next big thing” in this new year.  Over January I will share some of the predictions I have read that in my mind will have the biggest real impact on small businesses. 

Then at the end of the year we can see which crystal balls were right and which ones flubbed.  One thing I will promise is that I am NOT making any predictions EXCEPT that I will still be around to try to help our small business friends make sense of these new toys.

by Herb Lawrence, Arkansas State University Small Business and Technology Development Center Director…Helping Small Businesses with the Right Information at the Right Time from the Delta to the Ozarks.

Since everyone knows how much I love online marketing, let’s start with it.  Here’s the new buzz word I am hearing around the internet about Online marketing:

SOLOMO -  WHAT??? 

No, it’s not a song about Gondolas in Venice…SO-LO-MO stands for:

• SO – SOCIAL MEDIA
• LO – LOCAL MARKETING
• MO -MOBILE MARKETING

What will be drivers for small business marketing in the new year?  SOLOMO.  What it really means is that 2012 will be the year online marketing in all of its various shapes matures.  Our customers (and potential customers) are adopting these online tools in growing numbers, across all demographic groups to communicate and find information.  It is going to essential that small businesses, especially local businesses, learn how to integrate these into their existing marketing mix.

While researching social media marketing predictions for 2012, I came across this nice little video by Phil Simons on the Pitney Bowes Small Business Marketing Essentials blog called Small Business Marketing Trends for 2012  Part I SOLOMO Social Media 2.0

Phil is the author of The Age of the Platform and a contributor to the Pitney Bowes Small Business Essentials blog.  This short video is part 1 of a 3 part series (will share the other 2 as they come available) where Phil outlines why each area SO…LO…MO will be critical in the coming year for small businesses.  This particular video discusses the coming opportunities for Social Media and why small businesses, especially those who have been trying to ignore Social Media Marketing, will need to get in the game this year.

Small Business Marketing Trends for 2012 from Pitney Bowes Small Business on Vimeo.

I understand that this whole online marketing “thing” with all its various components can be very confusing and that many small businesses just don’t know what is important, what is a waste of time, or even how to make decisions about online marketing.  Hopefully the ASU Small Business team can help. 

ASU SBTDC Helps Small Businesses Grow

We offer practical workshops on a variety of topics including online marketing to help our small businesses find out what really matters to create an effective online presence.  Our January-February 2012 Small Business Training Calendar offers a number of workshops to help your business be more competitive. 

To see the entire list of workshops for the next two months and to register visit our January-February Small Business Calendar.

We also provide FREE and confidential one-on-one consulting to both start-up and existing businesses on a variety of topics.  Our consultants, Laura Miller and Robert Bahn have years of experience working with businesses in our area.  Visit our Small Business Consulting page to see how we can help your business and to set a time to meet with either Laura or Robert. 

Not in the Northeast or North-Central area of Arkansas?  Visit our Arkansas SBTDC website and find the small business center nearest you.

In the mean time…what are your predictions for 2012?  What do you think will be the “game changers” in marketing for this new year? I want to hear from our readers…leave your thoughts in our comments section and share your “Best Guess”.

Is Your Home Based Business Covered?

A lot of entrepreneurs on a limited budget opt to start their new venture from home, especially those in service related industries, since it can significantly decrease many of their start-up expenses.  But one expense that many home business owners don’t consider is insurance!  Just because you have home-owners insurance for your residence doesn’t mean that you are protected from business related liabilities. Here are some great tips from our guest blogger and Business Consultant from our UALR Lead Center, Whitney West that you need to consider.

by Herb Lawrence, Arkansas State University Small Business and Technology Development Center Director…Helping Home-Based Entrepreneurs Succeed from the Delta to the Ozarks.

One of the topics we cover in our “Starting a Business in Arkansas” seminars for entrepreneurs has to do with the advantages (and disadvantages) of operating a Home-Based business.  Many of our clients, especially those in service related industries, will opt to start their new venture from their home as a way to reduce costs. 

Unfortunately, one business expense they often overlook has to do with insurance.  After all, you have home owner’s liability coverage so that should be sufficient…right?  Well maybe not.  But, here’s what you can do to make sure this isn’t an issue.

Thanks to Whitney West, Business Consultant with our UALR Lead Center for being a guest blogger.  Whitney has a lot of experience helping small businesses in the Central Arkansas area launch their ventures and her insights into what you need to know about insurance for your home-based small business is worth reading. 

Insuring Your Home-Based Business

by Whitney West, UALR Lead Center Business Consultant, from the January 4, 2012 ASBTDC Biz Bytes E-Newsletter.

According to the Independent Insurance Agents & Brokers of America, 60 percent of home-based businesses lack insurance and risk potentially damaging losses.

“People do not realize that if the UPS guy comes to your door with a business package in his hand and slips and hurts himself, there is no coverage for that injury in their homeowner’s policy,” said Ryan Hanley, an insurance agent at Murray Group Insurance Services, in an Entrepreneur article on the topic.

So, what are the options for owners of home-based businesses who want to properly insure themselves? Depending on the type and complexity of your business, you can choose from one of three basic types of insurance, according to Entrepreneur’s Carol Tice.

• Rider to a homeowner’s or renter’s insurance policy. The most inexpensive home-based business insurance. Typically, this type is most appropriate for a one-person business without much equipment or many visitors.
• In-home business policy. A policy that covers a broader spectrum of business assets. This policy is usually a plan against injury or theft covering as many as three employees.
• Business owner’s policy. The policy for businesses needing more than $10,000 in coverage. Such coverage would insure against damage to or loss of business equipment/assets, liability of customer injuries, loss of critical records or malpractice.

To determine if your home-based business is insured or to ask further questions on what type of coverage you need, contact your insurance agent.

You can read more great articles about small business issues in our Arkansas Small Business and Technology Development Center E-Newsletter Biz Bytes.

How the ASBTDC Can Help Your Home-Based Business

Want to know more about operating a Home-Based business and how to make sure it is successful?  The ASU Small Business and Technology Development Center offers our 3 hour “Starting a Business in Arkansas” seminar on a regular basis and options for Home-Based businesses is just one of the topics we cover.  Our next “Starting a Business in Arkansas“ workshops will be held:

•  Tuesday, January 17th from 6-9 pm
•  at the ASU Delta Center for Economic Development on the ASU campus in Jonesboro. 
• Registration $30 per person, FREE to all Military Veterans and spouses

 We will also have a seminar coming to Mountain Home on Tuesday, January 31st from 1-4 pm at the Baxter County Library.  For more information about these workshops or to register (military veterans always attend SABIA at no charge) go to our Starting a Business page.

Our consultants, Laura Miller & Robert Bahn also provide FREE and confidential consulting assistance to start-up as well as existing businesses on a wide variety of topics.  To find out how our consultants can help you or to make an appointment click on ASU SBTDC Consulting.

In Arkansas but not in the ASU SBTDC area?  Our other centers around the state offer Starting a Business workshop on a regular basis throughout the state.  To find the Starting a Business workshop nearest you or to talk to a consultant in your area go to our Arkansas SBTDC website.

Are you operating a Home-Based business?  Would love to hear back from you about your experiences.  Just leave a comment to our blog and share your thoughts!

Wishing All our Military Veterans & their Families a Happy Holidays!

As the rest of us rush to get final preparations for the holidays…hitting the malls for those last-minute gifts, trimming trees, putting up decorations, worrying about budgets and all the other distractions that demand out time there are a group of Americans who, every year take time out to honor the fallen.

 by Herb Lawrence, Arkansas State University Small Business and Technology Development Center…Honoring Our Nation’s Veterans and their Families Across this Great Country

While I was going about my last-minute holiday activity today, I received a short e-mail today from my good friend and fellow veteran, Colonel (ret) John Brackin with a short but poignant message:

CHRISTMAS AT ARLINGTON CEMETERY

Rest easy, sleep well my brothers.

Know the line has held, your job is done.

Rest easy, sleep well.

Others have taken up where you fell, the line has held.

Peace, peace, and farewell…

As always, John has a habit of helping me re-order my priorities.  Especially thinking about a group of Arkansas National Guard who had just returned from Afghanistan in time for Christmas and another group who will be preparing to depart in early 2012.  For the returning soldiers this year should prove to be especially happy after so long a time away from their loved ones. 

This Holiday Season however, will be a difficult one for my many friends in the 39th Infantry Brigade Combat Team, Arkansas National Guard as they prepare to deploy to Afghanistan in early 2012.  This will make the 3rd combat deployment for this unit since 2005 for these Arkansans.  I am sure for many of these soldiers and their families this will be an especially difficult holiday as they look to an uncertain future.  All of them are in my family’s thoughts in this difficult time.

John’s e-mail about Arlington National Cemetary also reminded me of an event that has been held on these hallowed grounds for a number of years.  Every year a group of Americans take time away from their own holiday celebrations to honor our fallen heroes resting at Arlington. 

Each year growing numbers of thankful Americans trek to the cemetery to lay wreaths at the tombs of these soldiers, sailors, marines and airmen.  Below are two short videos about the event.  The first from a national news network in 2006 and the second from the ceremony in 2011.  I hope you will take a minute to watch these and reflect on the sacrifices made by those who sleep there.

While going to Arlington to participate may not be possible for many of us, we have our own Arkansas State Veterans Cemetery North Little Rockand those Arkansans deserve a wreath as well.

I would also urge our readers to think of our living veterans during the holidays.  The homeless veterans, those suffering from wounds received in combat both physical and mental, as well as those who are unemployed.  Arkansas National Guard and Reservists suffer a significantly higher unemployment rate than the population at large.  It is estimated that as many as 14% of Arkansas National Guardsmen and Reservists cannot find civilian jobs.  These Arkansans who stepped forward to serve their country so that you could pursue your civilian career are struggling to find jobs that will take care of their families.

If you are a small business owner or are involved in hiring for your organization, hire a vet…it is time to do something to show your gratitude for their service.

In 2012 I urge all of our readers to seek out ways to show your support for our military veterans in a tangible way…they volunteered to serve this great nation and need our help.  If you would like to know more about veteran programs through the Arkansas Small Business and Technology Development Center, and how you can get involved visit our Arkansas Veteran Webportal.  Make supporting our veterans a priority New Year’s Resolution in 2012.

Thank you to all our veterans for your service to this country…we are in your debt.

Getting Fans is Easy Turning Them into Customers Takes Work

If you are using social media sites like Facebook, Twitter, YouTube, LinkedIn or even the new Google + you know that getting fans, likers, followers, subscribers and connections must be an important part of your social media strategy but how do you get an active Fan Base and keep it growing?  Our friends at KISSmetrics, an Online Marketing and Metrics site has some easy suggestions you need to know.

by Herb Lawrence, Arkansas State University Small Business and Technology Development Center, Adding Small Business Fans on Social Networks from the Delta to the Ozarks.

Last week I posted several articles about the importance of understanding the “What Social Media Consumers Want” from you online sites and how you should incorporate the consumer’s expectations into your Facebook, Twitter, LinkedIn, YouTube or Google Plus sites.   The study I used posted in eConsultancy.Com provides some very useful insights into the mind of your social media consumer that you should consider as part of your marketing strategy.

To continue with these article on consumers using Social Media I found this wonderful Infographic from our friends at KISSmetrics.  KISSmetrics is an Online Marketing and Metrics company that helps clients get the most out of their Online Marketing efforts.  This great infographic prepared by Kristi Hines for KISSmetrics “The Importance of a Fan Base & How To Grow One” provides some very valuable insights into what it takes, regardless of the social media site(s) you are using to Find, Engage, Grow, and Profit from your Fan Base.  Thanks to Kristi Hines for writing this piece and to KISSmetrics for making it available to bloggers like me.

++ Click Image to Enlarge ++

Source: The Importance Of A Fan Base Infographic
So, why all this interest in growing fans on social media for your small business?  Here are a few stats that Kristi provided that should drive the point home to any of our readers, especially those small business owners trying to determine if Social Media Marketing is worth the effort.

What Social Media Consumers Have to Say About Your Business

1. 64% of Twitter users say they are more likely to buy from the brands they follow. 
2. 51% of Facebook users say they are more likely to buy from the brands they follow. 
3. 81% of Facebook fans said they feel connection/empathy with a particular brand. Only 39% of non-fans said they did.
4. 87% of Facebook fans said they are satisfied with a particular brand. Only 49% of non-fans said they did.
5. 38% of respondents reported that they would likely become a fan of a brand on Facebook if they saw a family member or close friend do so. 
6. 50% of small business owners reported gaining new customers through social media – most notably through Facebook and LinkedIn. 

Probably the biggest marketing takeaway from those stats: Your social media fans are SIGNIFICANTLY MORE LIKEY to feel a connection with your business than non-fans.

How the ASU SBTDC Can Help Your Small Business Grow

Learn more about growing your social media Fan Base at the ASU Small Business and Technology Development Center.  We offer a wide variety of hands-on, 3 hour training workshops for small businesses including Online and Social Media Marketing Fundamentals.  Check out our upcoming small business seminars for January-February 2012 and sign up today!

Want help with your social media marketing efforts?  In addition to our low-cost training workshops our consultants, Laura Miller and Robert Bahn provide FREE and CONFIDENTIAL consulting assistance to small businesses in our 15 county area of Northeast & North-Central Arkansas.  To learn more about our consulting help, see ASU SBTDC Consultants and make an appointment to visit us.

The ASU SBTDC also offers 20 eLearning Courses online on a wide variety of topics you can access from your computer.  These courses normally cost $30 each but we give them to our ASU SBTDC Facebook fans AT NO CHARGE!  Not a Fan?  Just click here, “Like Us On Facebook“,  like our page and access $600 of online workshops NO CHARGE!

In Arkansas but not in our territory?  Not a problem we have offices in 7 major universities around Arkansas. To find the center nearest you go to our state website Arkansas Small Business and Technology Development Center Network…just be sure to tell them Herb sent you!

Not in Arkansas?  we are part of a national Association of Small Business Development Centers in all 50 states.  To find the center nearest you go our ASBDC website and make a connection! 

To Make Your Social Media Sites Work You Have to Know What Consumers Want

Experimenting with social media marketing for your small business or organization and not sure how to turn it into a competitive edge?  The most important thing to know is  “What Consumers Expect Out of Social Media Sites”!  Continuing with a review of The Digital Divide blog article written by eConsultancy recently the writer accessed a survey of over 1,300 of your online customers to find out what they expect from you.  The results may be surprising.

by Herb Lawrence, Center Director ASU Small Business and Technology Development Center Bridging the Digital Divide One Small Business at a Time…from the Delta to the Ozarks.

Tuesday I posted an article 3 Reasons Your Social Media Marketing Isn’t Working based on a study by Chief Marketing Officer (CMO) Council that eConsultancy.Com shared on their site.  The argument that the writer from eConsultancy shared was that there is a disconnect between what marketing “professionals” think our fans, friends, followers, etc want and what consumers said they wanted. 

I wanted to follow-up with some additional information in the article and discuss what it means for small businesses trying to leverage social media to attract customers.  Bottom line according to the survey results:  Consumers are online AND they are Social!  If you understand what consumers want then you can use your social sites to connect by giving them what they expect!  Since many of your competitors are fumbling with this, it can give you a clear advantage for your business.

Consumers Are Social. According to the survey results:

• 80% said they were more likely to try friends’ suggestions because of social media,
• 74% said they use social media to encourage their friends to try new products/services that they like,
• 72% said they use social media to stay engaged with brands or businesses,
• 51% said they share product or service advice on Facebook,
• 40% said they want MORE engagement from brands and businesses online,
• 33% said that Great Service Online keeps them loyal to you,
• 32% said they connect with brands or businesses on Facebook to say something nice about the brand or business.

A big takeaway for your social media marketing effort that you may not be aware of is that online consumers like to talk to their friends through social media about brands and businesses.  They believe what their friends tell them about YOU and they like to share what they know about you with their friends!

• They don’t believe your advertisements they do however, believe what their friends say about you, online.
• They like to encourage their friends to try you IF they had a good experience (on the other hand they will also WARN their friends about your business if they had a BAD experience!
• If you provide advice on your site about your product or service they are going to share it with their networks as well.

How can you “encourage” your fans to talk your business up on their network?

Your social media sites, whether Facebook, Twitter, LinkedIn, YouTube, etc. have the potential to provide “WORLD of Mouth” through your customers…you have to give them a reason to spread it!

How does your small business encourage your fans, friends, followers, to help you spread the word about your business?  Would you like to learn more about leveraging social media to engage customers and get them to your cash register? 

At the ASU Small Business and Technology Development Center we can help!

Our small business consultants provide free, confidential consulting assistance to help improve your marketing efforts..online and off.   Read more here at ASU SBTDC Consultants to see how we can help and to set an appointment.  Contact Laura Miller or Robert Bahn at (870) 972-3517 or send them an email asusbtdc@astate.edu.

Our small business clients have access to a wide variety of low-cost training workshops on a number of topics including social media marketing.  Learn more about our ASU SBTDC Training Workshops and register today.

Finally we maintain an extensive market research database with current information you need to be successful.  Find out more about the types of market research we can provide and how you can access this information at no cost.  ASU SBTDC Market Research Assistance.

Arkansas Rural Tourist Related Businesses Should Be Leveraging Twitter

Our friend and fellow Internet marketer Joanne Steele with Rural Tourism Marketing posted a very timely blog article today on why small rural, tourist related businesses should explore the opportunities in reaching new customers with Twitter. Twitter is rolling out a number of new changes to their site that could make this social media site a real winner for our micro rural small businesses and here’s why:

by Herb Lawrence, ASU Small Business and Technology Development Center Director…Tweeting on Small Business Success from the Delta to the Ozarks.

I hadn’t planned on writing a blog article today but when I got Joanne Steele’s latest article on Twitter for rural small businesses I just couldn’t resist. While I have been a big fan of Twitter for several years, and use it extensively to market the ASU Small Business Center, I have not been actively recommending it to our small businesses because there just aren’t that many Arkansans out there a’Tweetin’. But for our small businesses involved in rural tourism, especially those who attract customers outside of Arkansas, Twitter may be just the tool they need to connect with more potential visitors.

Joanne has made a great reputation for herself over the years as a rural, tourist related marketing expert. One important feature of her blogs is that she understands the challenges of very small (micro) businesses in using online & offline marketing effectively. She knows they just don’t have the time or resources to spend, especially with social media so when she decides to recommend her readers look into Twitter, I realized that I should share her information with our readers.

Take a few minutes to read Joanne’s article, if you aren’t leveraging Twitter, I think you will realize it is time to learn more about this powerful 140 character micro-blog. Here’s the link to Joanne’s article:  “Its Time for Small Local Businesses to get Acquainted with Twitter”.   Time well spent, if you want to stay on top of social media marketing for your small business.

Are you on Twitter?  If so let me know, would love to follow you!  If you aren’t following the ASU Small Business and Technology Development Center on Twitter, consider this my invitation to connect!  ASU SBTDC Twitter.

The ASU SBTDC provides free, confidential consulting assistance to area small businesses on a variety of topics, including social media.  If you want to learn more about our free consulting assistance, visit our ASU SBTDC Consultants page and find out how to connect with our consultants, Laura Miller or Robert Bahn.  Or call them at (870) 972-3517, email asusbtdc@astate.edu.

We also offer a wide range of low-cost small business workshops including topics like social media.  To see a list of our January-February workshops and to register, visit our ASU SBTDC January-February Training Calendar.

If you aren’t subscribed to Joanne Steele’s great blog for small rural businesses, check her site out Rural Tourism Marketing… information that is worth hitting your Inbox!  From all of us at the ASU  SBTDC, have a great holiday season!

Know What Your “Fans” Want To Improve Your Social Media Marketing Results

You just can’t get away from Social Media anymore!  Online marketing, especially through social media sites like Facebook, Twitter, YouTube and now Google + has gone mainstream today.  Don’t believe it?  Spend the evening watching television, get pen & paper, then keep track of the number of commercials between 6:00 pm and 10:30 pm CST AND how many of those commercials include their social media sites.  Big or small, a growing number of companies are trying to connect with potential customers through social media and spreading the word about their sites in a variety of mediums.  

BUT…the question is:  What do those pesky potential customers EXPECT when they “LIKE” your brand and why should it matter?  Read the rest of the article and see the THREE THINGS FANS SAY THEY WANT!

By Herb Lawrence, Center Director Arkansas State University Small Business and Technology Development Center…”Liking” Small Businesses and Entrepreneurs From the Delta to the Ozarks in 2012!

Online or Offline…successful marketing is all about communicating with potential customers and delivering a message that appeals to the reader.  The problem with online marketing through social media sites such as Facebook, Twitter, YouTube, LinkedIn and now Google Plus is to really understand what your customer WANTS from you.

More and more small businesses today are trying to figure out how to use social media, especially Facebook as a way to expand their marketing efforts and to develop connections with potential customers.  Unfortunately many of these small businesses are not getting the results they hoped for when they launched their page. 

Why?  They haven’t bothered learn exactly what it is that their Fans want from the small business’s Facebook page.   I don’t know about you but I did not sign up for Facebook just to go “liking” business pages!  I signed up on Facebook as a way to communicate with friends, relatives, family and others. 

Obviously I do “like” a number of business pages but I “like” their page because I GET SOMETHING for my trouble!   In a recent blog post from Econsultancy.com “Consumers want “free stuff” from social, Marketers think they “want to be heard“, the writer discusses the disconnect between what business marketers (YOU) THINK your fans want and exactly what (THEY) Your Fans SAY THEY WANT!

A short but powerful article…the author, Vikki Chowney provides the results from 2 surveys from Chief Marketing Officer (CMO) Counsel:

• 1st survey was from over 1,300 consumers (your fans), versus
• 2nd survey of 120 Chief Marketing Officers and here’s what they found

If Your Social Media Marketing Isn’t Giving Fans These 3 Things…You May be Missing the Boat!

Your fans (consumers) said if you want to connect with them on Social Media they WANT:

• to be eligible for EXCLUSIVE OFFERS (67%)
• have an opportunity to INTERACT with other customers wh share the same experiences (60%)
• GAIN ACCESS to games or contests (65%)

Take away here is: If you want me to be involved with your social media marketing (and get me to make your cash register ring!) understand what I WANT from you!

The problem is the Chief Marketing Officers (YOU) think your fan wants:

• To be heard (41%)
• Want news or information about your product or service (40%)

Only 33% of Marketers who responded thought that they wanted Incentives or Rewards, and only 27% thought customers wanted special savings or experiences exclusive to followers. 

Bottom line:  There is a BIG disconnect between what us marketers THINK people want from Social Media and what our FAN HAVE SAID they want!  Getting more fans, having fans push the “like” button or leave comments is fine…but that doesn’t necessarily put cash in your cash register. 

Want to get your Fans to “like” your cash register?  Then start paying attention to what Fans say they expect from Social Media!

Now it is your turn! I would like to hear from our readers.  If you are a small business using social media, what do you do to connect with fans and what do they tell you they want from you?  If you aren’t a small business but you follow, Like or subscribe to small business social sites…WHAT DO YOU WANT from a brand? 

Want to learn more about leveraging Social Media Marketing for your small business?  The Arkansas State University SBTDC offers a number of hands-on workshops to help small businesses leverage online marketing and social media marketing more effectively.  Go to the ASU SBTDC January-February Training Calendar and sign up for a workshop near you! 

Wishing All of Our Friends A Wonderful Holiday Season! 

Here is our Holiday Gift to You!

On behalf of all of us at the Arkansas State University Small Business and Technology Development Center…Wishing All of our Small Business Friends a Happy Holidays and a Profitable New Year!

from Herb Lawrence, Laura Miller, Robert Bahn, and Lois Travis the ASU Small Business and Technology Development Center Staff Holiday Cheer from the Delta to the Ozarks.

What a year 2011 has been! Working with entrepreneurs and small businesses in our 15 county area of Northeast & North-Central Arkansas has been challenging and very rewarding! So many new friends we have had the pleasure to meet, and we look forward to working with many more in the coming year as we help grow small business success…one entrepreneur at a time.

I hope all of our readers, clients and friends no matter where you are have a great holiday season! I know my staff and I will be looking forward to enjoying this holiday time with our family and friends…I hope all of you have time to do so as well.

Of course the holiday season is a time not only to wish our friends a Happy Holidays….It is a time to exchange gifts! So I thought I would provide this gift to all of our readers.

As our way of saying thank you for your support in 2011 we are offering everyone $600 of Online Small Business training courses FREE of Charge!  Grab your FREE eLearning Courses at our ASU SBTDC Facebook Page Now!

 Our 20 Online eLearning Courses cover many core business topics with over 3,500 slides and 350 TOOLS/Resources for small businesses to put to use.

Normally our small business “students” pay $30 for each of the 20 courses, BUT as our gift we are providing all 20 to you at no charge!

Topics include:

• Starting a New Business,
• Crafting a Business Plan,
• Marketing 101,
• Pricing Strategy and Tactics,
• Finding Money to Start a Business,
• Creating Financial Projections,
• Accounting 101
• and many more!

To access any or all of these free online eLearning Courses just go to the ASU Small Business and Technology Development Center Facebook Page.  If you aren’t a fan yet, “Like” our page!  If you are already a Fan…just click on our Events Taband Claim your $600 gift from us! 

Know a small business who could benefit from these online courses?  Share this blog article with them…our Holiday Wish is to put entrepreneurial training and education in the hands of as many Arkansas Entrepreneurs as possible!  We appreciate your help.

• You can also learn more about the FREE and Confidential small business consulting assistance ASU SBTDC Consulting,
• Find our Cutting Edge Marketing Research Database Resources,
• Sign up now for all of our In Class Small Business Training Seminars in 2012!

Thanks again for all of your support to the ASU SBTDC in 2011 and HAPPY HOLIDAYS from the ASU SBTDC Team.

Sign Up Now for Our January-February 2012 Small Business Workshops

AND…receive an Early Bird Discount of 30-50% OFF!

2011 was a RECORD Year for the Arkansas State University Small Business and Technology Development Center ALL BECAUSE of the support we receive from our small business friends around Northeast and North-Central Arkansas!  IAs we wind down for the holidays, I wanted to take this opportunity to thank everyone who has used our:

•  FREE, Confidential Consulting Assistance,
• Accessed our extensive library of Market Research databases, and
• Attended our low-cost, cutting edge training workshops.  

 It is the entrepreneurial spirit that exists in our region of Arkansas that makes our job so enjoyable.

In 2011 the ASU SBTDC

•  Conducted 69 seminars on a wide variety of topics across our 15 counties,
•  With 935 attendees,
•  Over 3,155 training hours! 

That’s a LOT OF TRAINING!  Special thanks to our wonderful speakers, our great co-sponsors and partners, and especially to you for taking time out of your day to sit in on our sessions!

We will be showing our thanks to all of you in a very tangible way in our Monday blog we will be giving away over $600 in online eLearning training sessions that you can access from your home computer absolutely FREE as our holiday gift to our small businesses. 

That’s 20 courses you can access on a wide variety of small business topics that normally cost $30 each, yours at NO COST as our way of saying Thank You!  So make a point to check out our Monday blog to see how you can receive these free eLearning courses to help your business grow.

Today I wanted to offer all of our small business friends a special discount on our upcoming January-February 2012 small business workshops.  Our hands-on, 3 hour workshops for January and February, 2012 on a variety of small business topics have been posted to our website and we are excited about the training coming up.  Check our January-February Workshops here.

As a way to thank all of our small business friends, and to get the 2012 Seminar Season off with a bang we are offering a $10 discount as an early bird special to anyone who signs up for our seminars before NOON Friday, December 16th!  Here’s all you have to do:

• See our list of upcoming seminars – January-February 2012 Small Business Workshops,
• Pick the workshops that you want to attend,
• Determine the price schedule that is right for you (normal registration $35, co-sponsor members $25, ASU Faculty, staff and students $20)THEN TAKE $10 OFF your fee when you register,
• As long as you register BEFORE Noon Friday, December 16th!  

To register for any, OR ALL, of our upcoming seminars call the ASU SBTDC (870) 972-3517, Email us at asusbtdc@astate.edu or go online and register at ASU Seminars and get $10 off each seminar!

Our office will close at noon Friday, December 16th for the Christmas Holidays and will not reopen until Monday, January 2nd.  If you have registered before noon (even if you did not submit payment at that time) you knock $10 off your registration for every seminar you enroll to attend.  Just our way of saying thank you! 

Don’t forget to be watching for our Monday blog to grab your FREE 20 course eLearning Online training as well.  That’s a $600 value!  The holidays are a time for sharing and here at the ASU SBTDC we want to share the holiday spirit with all of our friends, fans, readers and small businesses throughout Northeast & North-Central Arkansas. 

Happy Holidays from the ASU Small Business and Technology Development Center Staff!

New Funding Program for Arkansas Businesses

Looking for funds for your Arkansas small business?  According to a recent article from Arkansas Business “Arkansas Gets $13 Million for Small Business Jobs” you may want to look into this program.  According to the article ”The state of Arkansas on Monday received $13 million from the U.S. Department of the Treasury’s State Small Business Credit Initiative to help create jobs through lending and guaranteeing loans to small and minority businesses.”   So are you eligible to access some of this $13 million for your business?  Read on:

by Herb Lawrence, ASU Small Business and Technology Development Center…Helping Small Businesses & Entrepreneurs Find Access to Capital from the Delta to the Ozarks.

Yes, Arkansas has been earmarked to receive $13 million to go to help small businesses in our state.  The funds are being administered through the Arkansas Development Finance Authority.  According to Governor Mike Beebe, “This program will help us encourage business growth in Arkansas and keep our entrepreneurial spirit strong.”   But before you call the Governor to ask when you can come by and pick up your share of the money you need to learn more about how it will be allocated, the different programs available through ADFA and the process.

Under the State Small Business Credit Initiative (SSBCI), ADFA has indicated that the money will be used to:

• Support and provide additional funding to its existing Arkansas Capital Access Program,
• Funding through its Bond Guaranty/Loan Participation Program,
• Risk Capital Matching fund,
• The Disadvantaged Business Enterprise/Small Business Loan Guaranty Program,
• The Arkansas Development Finance Authority Co-Investment Fund, and
• The Seed and Angel Capital Network.

Each of these programs seek to help small businesses with different sets of needs for funding.  Several of these programs are aimed at equity investment assistance, especially the Arkansas Risk Capital Fund that targets fledgling technology related businesses.  Other programs are aimed at encouraging traditional commercial lenders or economic development lenders to provide loan assistance to small businesses by providing them with “insurance” on these loans, especially in the area of access to working capital.

To learn more about the different programs and to see if your small business funding needs can be met by any of these programs visit the Arkansas Development Finance Authority’s website, go to the SSBCI pageand study the 6 programs listed on their page.  I would also encourage you to contact ADFA with specific questions related to your own small business funding needs.  Contact information at ADFA is available at the bottom of the SSBCI overview page.  I would strongly encourage any of our small business readers who are interested in finding out more about this program to contact ADFA for details.

One economic development lender, Alt Consulting has already been able to leverage one of these programs to provide funding to one of their clients.  To learn more about Alt Consulting and their micro loan programs, visit their website at Alt Consulting and see if you might find some funding opportunities through them.

A final take away for our small business readers…nowhere in the description of programs, use of funds, etc. did I see anything about the “G” word…Grants…  Don’t misunderstand the  SSBCI program is not a “FREE MONEY” program through Uncle Sam!  Leveraging any of these programs will require you to go through an application process to include demonstration that your business is economically viable, you will be able to repay any loans and that you meet a list of eligibility criteria that will be part of the program.  BUT… you will not know if you are eligible for any of these if you don’t ASK!

We will be following the ADFA programs and learning more about how our small business readers can leverage the SSBCI program so stay tuned.   

To learn more about the Arkansas State University Small Business and Technology Development Center and our programs to help grow businesses in Arkansas visit our Consultants Page ASU SBTDC Consultants, learn about our Market Research Assistance programs and sign up for our low cost Small Business Training Workshops.  At the ASU SBTDC we Grow Small Business Success…One Entrepreneur At a Time. 

To see if the ASU SBTDC can help your small business call (870) 972-3517 or e-mail us at asusbtdc@astate.edu.  And have a Happy Holidays!

Should Arkansas Small Retailers Be Open on Thanksgiving?

I hope everyone is gearing up for Thanksgiving holidays!  I  k now my staff and I are ready for a couple of days off.  But for many employees in retail, Thursday will be just another day at work.  Big Box retailers are opening on Thanksgiving in droves…should small retailers follow their lead? 

by Herb Lawrence, Center Director Arkansas State University Small Business and Technology Development Center…Growing small rural retailers from the Delta to the Ozarks for 27 Years!

While I was trying to close out work in preparation for Thanksgiving and a “well deserved” 4 days off, I received this interesting article from Entrepreneur Magazine’s online edition The Daily Dose.  Carol Tice contributed a very interesting article today “Retailers That Open on Thanksgiving: Is It Wrong?”

Take a moment to read the article it raises some interesting thoughts about:

• Our consumer driven society,
• Increase in Big Box Retail Stores requiring their employees to work on Thanksgiving,
• Backlash from some employees especially at Best Buy,
• Impact on Small Retailers..Whether to follow their lead to stay competitive.

You can read more about the Protest Movement from Best Buy employees here.  Best Buy Protests Opening on Thanksgiving.   Are they right?  Or is this just part of the cost of working in the retail industry?

I know for my family we are looking forward to the next four days as a way to relax from the normal stress of work, to connect with our family especially on Thursday when we have Thanksgiving dinner with my daughter, son-in-law and two grand daughters. 

However, I also know that:

1. We will eat out…Thank You to the restaurants who serve Thanksgiving Dinner so we can enjoy family time with our kids and grandkids,
2. And…since we will travel from our small town in North-Central Arkansas to Little Rock for dinner…I strongly imagine that my wife and daughter will take advantage of some shopping time to get ready for Christmas while my son-in-law, grand daughters and I watch some football on TV.

But what about our small business friends?  With so much competition today on small retailers to try to compete with big corporate retail outlets will they feel forced to open on Thanksgiving (and require their employees to come to work instead of having Thanksgiving with their families) just to stay competitive?  Should they?

Want to weigh in on this issue!  Feel free to leave a comment below or come to the ASU Small Business Facebook page.  We posted this issue as a QUESTION on our page and would love to get your feedback, especially if you are a small business retailer OR an employee.

Either way, from the entire Arkansas State University Small Business Staff and our families I hope you have a Happy Thanksgiving Day.  See you on Monday.

Santa Will Leverage Social Media this Year -

Can He Find Your Retail Store?

Holiday season is gearing up!  Challenging economy or not, shoppers will be out On and Offline this year in growing numbers.  This year online marketing and social media marketing will be critical for Arkansas small business Holiday success and here’s why!

by Herb Lawrence, Arkansas State University Small Business and Technology Development Center…Helping Small Retailers Fill Customers Stockings from the Delta to the Ozarks.

Small retailers in Northeast and North Central Arkansas will find that their customers are moving online in droves to get ready for the holiday shopping season.  The questions are:

1. Can they find you?  If not they will find your competitor
2. Do you know what they are looking for? 
3. How can you leverage online and especially social media to get your share of holiday dollars?
4. Why should you care?

In a recent article from Hubspot 60 Inspirational Holiday Marketing Statistics there can be no question that holiday shopping will be dominated by the Internet and especially social media like Facebook, Twitter and YouTube.  The good news…It is not too late for your small rural retail business to get on the bandwagon!

Need some convincing?  Here are some statistics YOU need to know about Holiday Shopping Online this year:

• In August 2011 75% of consumers started researching holiday gift purchase.s 89% of them started their shopping online
• 47% of shoppers (nearly half) will buy online this year up from 43% in 2010
• 32% will be doing comparative shopping online more often
• Online consumers spend an average of $857 online that is nearly 22% MORE than the average consumer
• 42% of online holiday buyers said SALE and Price Discounts as most important factors to shop with you this holiday season

So How about Social Media?

• 39% of consumers plan to look to social networks and online discount sites like Groupon and LivingSocial BEFORE purchasing
• in 2010 21% of Cyber Monday shoppers said they heard about promotions from someone else through social media networks
• BIGGIE! 36% of retailers plan to spend MOST of their holiday marketing budget on social media platforms during the 2011 holiday season that is up from 27% in 2010.
• MOBILE COUNTS:  Nealy 40% of consumers own a smart phone AND 53% say they will use it to help them shop this season
• 31% of smartphone users will use their phone to RESEARCH or COMPARE holiday prices.
• 25% of smartphone users will use their phone to look YOU up and information about your store
• 70% of consumers who own tablet computers like iPads say they will research holiday products and locations with their tablet.

No question about it Santa and his elves are online this year…  looking for gifts, deals, discounts, coupons AND information about your business.  Are you ready to meet them? 

The good news is it isn’t too late to get your online holiday marketing tools in place. 

How the ASU Small Business Center can Help Your Retail Business This Holiday Season

The ASU Small Business and Technology Development Center’s consultants can help!  Our consultants at Arkansas State University, Laura Miller and Robert Bahn provide free, confidential consulting assistance to start-up and existing businesses throughout Northeast and North-Central Arkansas including assistance with marketing plans and marketing strategy implementation.  Call (870) 972-3517 or email us at asusbtdc@astate.edu and find out how the ASU Small Business and Technology Development Center can make your retail Holiday Season a happier AND more profitable one!

Learn more about the ASU SBTDC Consulting Services here or visit our website  and connect!

Not in Northeast or North-West Arkansas?  Not a problem see the Arkansas Small Business and Technology Development Center network website to find a center in Arkansas near you.  Not in Arkansas?  See our ASBDC website to find an SBDC office in your state.

Working Capital Funding Help to Arkansas Small Businesses

Locating good sources for funding are challenging for many start-up and existing small businesses in today’s economy as many of our Arkansas entrepreneurs are well aware.  But funding a business through commercial banks is not the only option available…you just have to know where to look!  In today’s blog I have a guest writer, Tom Cleveland with Small Business Loans Direct, a company that helps small businesses with working capital needs.  Thanks to Tom for being our guest blogger today and to his associate Mike Trinkle who has been educating me about their programs.

By Herb Lawrence, ASU Small Business and Technology Development Center Director…Helping Entrepreneurs find Solutions to Financing Needs from the Delta To the Ozarks

Finding Funding Today Means Following the Path of Least Resistance

Written by: Tom Cleveland, November 14, 2011

The nature of our business economy has changed dramatically over the past decade. Two severe business cycle swings have devastated our credit markets, reshaping the industry and the effort that an entrepreneur must expend in securing sources of capital for an early development company. Back in the nineties, angel and venture funds had money to throw at nearly any new idea with promise, but today many of these sources are attending to struggling entities within their existing portfolios. Independent loan companies have filled the “vacuum” while the landscape continues to change.

If you already have startup capital or collateral worthy of pledging for secured-type financing, then you are ahead of the pack. If not, and if you have already tapped your existing friends, family, and business partners for all they can put forward, then you need to plan out your next moves carefully. Most entrepreneurs immediately approach the most structured forms of finance that require more work and more time and rarely lead to success, except for the most exceptional of candidates.

Here is a list of potential sources, organized by increasing level of difficulty to obtain:

• Local Networks: Every state in the union has regional development centers and incubators that are there to help the entrepreneur find support for every category of business need, including funding. These entities can put your “story” in front of potential investors or help guide you through highly complex grant filings if appropriate. They have the networks and in some cases funding vehicles supplied by state and federal funds designated for startups;
• Business Loan Companies: Independent business loan companies that are seeking higher returns on their investors’ monies are now filling the “gap” between local development agencies and banks or venture funds. There are several of these companies on the Internet that will consider both secured and unsecured financing alternatives. The “Merchant Cash Advance” is a rather new vehicle that advances funds based on your daily retail card-enabled transactions, an innovation that can actually grow with your business volume;
• Banks: Banks do not invest in risky, unsecured loans, except in the credit card arena. Outside of having a few accounts with high credit limits to cover funding shortfalls, you will not get a bank to invest in an “idea”. They will demand collateral of high quality and that present cash flows can easily handle paying back any contemplated advances. Banks, however, also have extensive networks of potential investor groups, so it will behoove you to work with your local banker in this regard;
• Angel and Venture Funds: These funds require a great deal more work to get on their radar screens. These funds receive hundreds of business plans a month to review, and then they may only select one or two for further study. Since competition is very high, be sure that your materials are topnotch.

Unsecured business loan providers and merchant cash advance programs may be your best sources for early funding needs.

Thanks Tom and Mike for contributing the article.  If you would like to know more about Small Business Loans Direct, check out their website. 

For free, confidential consulting assistance with any loan or funding issue contact the ASU Small Business and Technology Development Center consultants:  Laura Miller or Robert Bahn (870) 972-3517 or email us at asusbtdc@astate.edu to set an appointment or to get more information about our small business assistance programs.

Veterans Day 11-11-11What It Really Means

In honor of Veterans Day I was going to post a carefully thought out blog article about the importance of the day and why all Americans should pause to reflect on the sacrifices made by our Nation’s heroes. But while attending a Veterans Day Event at the White River bridge in Batesville, Arkansas I listened to this moving and emotional speech by a grizzled old Vietnam Vet and realized nothing I could say could be more elegant.  I recorded his comments and want to share the video with my readers.

By Herb Lawrence ASU SBTDC, Honoring our Veterans from the Delta to the Ozarks

About 100 veterans and their family members turned out to launch wreaths over the bridge into the White River this morning. Of those who turned out 99% were veterans or family members. I suppose the civilians were too busy headed to Veterans Day Sales events to stop in.  But the people who mattered were there.

For those of us who served, whether one hitch or the “whole nickel”, today is the day we come together with our families to remember those brave men and women we served with….living and dead.  To this  Vietnam veteran…thank you for saying what is in all of our hearts.

Area veterans from World War II, Korea, Vietnam, the Persian Gulf, Irag and Afghanistan stood silent at that bridge while we listened…many of us weeping without shame as  the ghosts of our old comrades,  flooded into mind’s eye and joined us silently at that bridge for a brief moment.

Duty…Honor…Country these three words are not hollow terms for veterans or for our families. They are words that were etched into our hearts and have remained with us through the years. 

To my comrades in arms who I was honored to serve with, you are never far from my thoughts. I am proud to say that I can be counted as one of you. To my son, Captain Tim Lawrence who has continued the “family business” serving in the U.S. Army, thank you as well for your service to this great nation.  With less than 10% of our population allowed to wear the title “veteran” we are a small band of brothers. But as long as one veteran remains alive we will never be forgotten.

On this Veterans Day 2011…to the veterans and families who read this…thank you for your sacrifice and service.  To the non-veterans I urge you to thank a veteran for serving in your place.  Remember the thousands of military personnel who are still serving in war zones across the globe and those who will be leaving soon to go into harms way.

Independence County Entrepreneur Boot Camp Helps Residents Launch Businesses

Tonight will be night 5 of our 6 Night Independence County Entrepreneur Boot Campseries helping area residents learn how to start a small business. 23 county entrepreneurs have been spending 3 hours each Thursday night learning how to create realistic business plans to launch their ventures.

By Herb Lawrence, Center Director Arkansas State University Small Business and Technology Development Center…Helping Rural Entrepreneurs Grow from the Delta to the Ozarks

Tonight our 23 Independence County entrepreneurs will learn the basics of accounting, legal issues and personnel management as part of our 6 night program at the University of Arkansas Community College at Batesville. Over the past 4 evenings they have learned about:

•  Commercial loans,
•  Business financing options through economic development lenders, and
•  Marketing Basics as part of the 3 hour nightly program.

Each night covers a different topic led by area professionals as well as listening to county entrepreneurs share their stories of business launches.

Jeanni Brosius with the Arkansas Democrat Gazette wrote a very good article in the recent Three Rivers Edition of the paper that I wanted to share with everyone. In her article Rural Areas Encourage Small-business Growth, Ms. Brosius shared an excellent summary of the program, what the entrepreneurs are learning and the organizations around the county who have come together to help launch the series.

Special thanks to Jeanni for sharing the story as well as to our partners:

• Ed Mabry Independence County Economic Development office,
• First Community Bank,
• Citizens Bank,
• the Batesville Area Chamber of Commerce, and
• UACCB for helping with the hard work to put a program like this together.

I also wanted to share a short video from our first night when County Judge Robert Griffin came to address the class and share his vision of entrepreneurship and why it is so important to sustain the economy of rural areas like Independence County. Thank you Judge for taking time out of your schedule to share your thoughts.

In addition to the class time and the opportunity to learn from a great line up of experts in various professions, the 23 entrepreneurs also received software Business Plan Pro and texts to help them develop their business plan as part of the class preparation. This software and associated texts helps the students walk through the various components of business plans from market analysis to financial projections so at the end of the series they will have a realistic and fundable plan to guide them as they start their new ventures.

At the ASU SBTDC we are committed to helping existing businesses and start-ups throughout our region grow successful ventures through our free and confidential consulting assistance, our low-cost small business training seminars and access to free market research information to help them make informed business decisions.  

If you would like to know more about how the ASU SBTDC can help your small business grow or how we can help you plan the launch of a new venture contact our business consultants, Laura Miller or Robert Bahn at (870) 972-3517 or email them at asusbtdc@astate.edu.  You can also learn about our upcoming training sessions at ASU SBTDC Small Business workshops and sign up for our email newsletter to stay informed about new opportunities starting in 2012.

How the ASU Small Business and Technology Development Center Can Help Your Small Business

Finding the Right Information at the Right Time and the RIGHT Price to help your small business grow or start isn’t always easy.  For many small business owners or entrepreneurs a real challenge is to find outside assistance to help them make realistic decisions to help their business succeed.  Fortunately entrepreneurs and small businesses in Northeast & North-Central Arkansas have a tremendous resource through the Arkansas State University Small Business and Technology Development Center. 

by Herb Lawrence Center Director for the Arkansas State University Small Business and Technology Development Center…Helping GROW business success from the Delta to the Ozarks for over 27 years.

How can the ASU Small Business and Technology Development Center help your small business or start-up?  Here is an interview I did in Mountain Home, Arkansas recently for Joan Gilbert with Gilbert Realty Company discussing ASU SBTDC assistance programs and a discussion on what it takes to get a small business loan.  Take a moment to watch the video, see how our consultants can help you with your business planning and what you need to know about finding funding for your start-up or existing business. 

Thanks Joan Gilbert for taping this video to share with our Northeast & North Central Arkansas Entrepreneurs.

If you would like to know more about the assistance available through the ASU SBTDC contact one of our business consultants: Laura Miller Lead Consultant or Robert Bahn Business Consultant and find out how our small business programs can help you grow.  Contact us at (870) 972-3517 or shoot an email to asusbtdc@astate.edu.