SmallBusinessLoans.com Blog } Business Financing Mind Share Like Never Before
By Rieva Lesonsky and the SBL Insider
For a small business, having the latest technology can be a game-changer. So you can’t let your staff work with outdated computers, laptops or cell phones. But since you’re on a budget, wouldn’t it be nice if you could benefit from the outdated equipment in some way? NextWorth has a solution. At this online electronics marketplace, both consumers and businesses can trade in old technology and get paid by PayPal, by check or by gift card. Shipping your used items is free, and NextWorth will assess how much they’re worth before you trade them in, so you know what you’re getting into. Trading in not only benefits your business, but also helps the planet by keeping tech equipment out of landfills.
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By Dave Lavinsky - Meet the Expert
The most important section of your business plan, whether you will be presenting it to banks or investors, is your Executive Summary.
The Executive Summary is the first page of your plan (it can be up to the first three pages of your plan). Because it’s the first thing readers will review, it serves as a gatekeeper—meaning if your Executive Summary is good, readers will continue on. If not, they’ll stop. And importantly, the vast majority of readers stop.
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By Rieva Lesonsky - Meet the Expert
Small business lending is showing signs of easing, as borrowing by small businesses surged 19 percent in December to the highest level in more than four years, reports the Thomson Reuters/PayNet Small Business Lending Index. But despite this positive news, getting a small business loan is still far from simple—and if you fail to understand what lenders are looking for, you could be putting roadblocks in your own way. Lenders will examine your business plan, financials and other information with a critical eye, looking for any weakness that might signal you’re not a good risk. Here are some key areas lenders focus on, and some warning signs you might unwittingly be sending that could hurt your chances of getting that loan.
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A very important consideration for any small business is the efficient management of the many elements of its financial operation. A great many valuable man hours can be saved by careful investment in a good piece of finance software. It goes without saying that accurate accounting and effective financial management projects a professional corporate image to clients, suppliers and competitors alike, giving an important edge in today’s challenging economic climate.
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Rieva Lesonsky and the SBL Insider
Multinational corporations buy nearly $1.6 trillion in products and services from small companies in the U.S. each year. How can you grab a piece of that pie? It’s not always easy to find out about international opportunities and bid for them. But there is one way to get the inside scoop. Ariba Discovery matches buyers and sellers all over the globe, shrinking the boundaries between what you’ve got and the international companies that want it. All you have to do is register your company as a seller. Buying corporations list their needs and their location; Ariba then matches them with sellers who fit their criteria. As you sell more, buyers will review your company, helping raise your profile on the service. Ariba Discovery offers a free version as well as a more fully-featured option that costs $399 annually.
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One thing small businesses need in order to thrive is quality staff. Fewer employees mean there’s much less room for a weak link so attracting the best people should be a top priority, however good people know what they’re worth so putting together a strong benefits package can help set your company apart from the competition.
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By Shashi Bellamkonda - Meet the Expert
An article in eMarketer in February put the worldwide number of social media users at 1.2 billion. That’s almost 1 out of every 6 people in the world. The takeaway for small business owners? This is definitely an important medium.
If you are getting ready to take your first steps in social media, this checklist will help you.
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Small businesses need funding. Even when business owners have sufficient resources to open the doors to a new business, the time soon comes when the business needs money to expand, buy inventory or acquire equipment. Business loans provide needed capital so business owners and their companies can continue to operate and grow without impairing cash flow.
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By T.J. McCue - Meet the Expert
The nature of work is changing; it is increasingly done from multiple locations and devices. We respond to email on our smartphones, surf the Web on an iPad, and create documents or spreadsheets on a desktop. Keeping all of that information synchronized can be a challenge.
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By Rieva Lesonsky and The SBL Insider
It happens every year: Companies’ PR or marketing teams try to get creative and come up with some kind of “April Fool”-related publicity stunt. Before trying this tactic, be aware that it can backfire. Several years ago, one of my clients excitedly emailed me a press release he had received about a new development in his industry. He wanted me to follow up and write an article about the trend. Unfortunately, he had only skimmed the first few paragraphs of the release, and hadn’t seen the giveaway (at the very end) that it was an April Fool’s joke. Luckily, I was able to stop him from mistakenly spreading the word and looking like a fool—but in today’s social media environment, it’s easy to for foolish PR stunts to be taken for fact and spread virally. This strategy is more likely to backfire than benefit you—so don’t be an April fool yourself.
Meet Rieva Lesonsky
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