Government, Politics and the Economy
The Obama Financial Plan: Let the Games Begin
The sides are drawn-up and the combatants are set, ready to do battle over Obama's proposals for the Fed, financial regulation and much more. Poll: Too Much Intervention? BusinessWeek.com
Should the Government Back High-Potential Start-Ups?
If the answer is 'yes', then venture-backed companies across the country should be eligible for federal innovation grants. NYTi...
By Charles M Cooper · June 18 2009
small business brief, marketing, small business, economy
Some of the states in the union are getting pretty desperate—or pretty greedy. Like California, which is now finally facing the consequences of its self-imposed high-tax-welfare-state way of doing business, a number of states are seeking to maintain their profligate ways by looking for new taxes to shore-up their sagging revenues in the face of the recession. A quick look at US history will show what a bad policy this is, but the lessons of the past seem lost on this generation of politician. They seem far less concerned with the impact their new taxes will have on the people of their state than on getting their hands on the money. Case in point: North Carolina. According to the Greensboro News & Record:
As part of the effort to bridge that gap, House members broadened the number of items to which state sales tax would apply and have to be collected by retailers. The tax on the category “digital click-throughs” under which the Amazon agreements fall would raise $13.2 m...
By Charles M Cooper · June 18 2009
small business, taxes, north carolina, amazon.com
Government, Politics and the Economy
Perhaps California is Not Too Big to Fail
With the legislature in gridlock and $24 billion in red ink, California lawmakers have not been able to persuade the Obama Administration to bail out the state, and California isn't alone. BusinessWeek.com
Economic Trends: The Death of the Independent Pharmacy
With more customers filling their prescriptions online, the small independent pharmacies we grew up with are struggl...
By Charles M Cooper · June 17 2009
small business brief, marketing, small business, economy
Tips from June 17, 2009 The Small Business tips today will be how a sales team can grab a prospective client’s attention to lead to a successful sale.
Set limits on how much you talk. On average, 60 seconds is the maximum to talk about yourself or your business. Engage the prospective client to signal the next time you can speak so you avoid rambling.
Ask open-ended questions to enable dialoguing with your prospective client. Prompt them with questions that cannot be answered with a yes or no question. Begin with what, where, when, why, or how.
Do not manipulate, lead, or control your prospective client. Encourage the other party to reveal their opinions about your product or service.
Build rapport. Being kind and courteous goes a long way and you will gain the trust of your potential client. An individual who can trust a salesperson is more willing to do busines...
By Cheryl Sowa · June 17 2009
small business tips, small business, sales, tips
General George S. Patton said it best: I don't measure a man's success by how high he climbs but how high he bounces when he hits bottom. In other words, everyone fails. It happens. The real measure of who you are is what you do to recover when you fail. Patton applied that rationale to his soldiers, but in the world of business, especially service businesses, it also applies.
I know of a destination management company (DMC) that just lost a very lucrative client and they did it by forgetting that the real measure of a business is what they do after the mistake is made, after the damage is done.
In the field of destination management, when things go bad, they tend to go bad in an obvious and embarrassing way for the client. After all, they have put their image—personally and professionally—in the hands of the DMC and when there is a failure, it is the client that takes the hit and not the DMC they hired. Here is what happened:
The DMC was contracted to manag...
By Charles M Cooper · June 17 2009
small business, customer service, problem solving, making amends
The Small Business Administration is accepting loan applications for a temporary new program called America’s Recovery Capital. These “ARC” loans, which go up to $35,000, are designed to provide a “bridge” for viable small businesses with immediate financial hardship – to keep their doors open until they get back on track. “These ARC loans are another tool in the SBA toolkit which will provide critical support to small businesses struggling to make it through these tough economic times,” said Administrator Karen G. Mills.
ARC loans are deferred-payment loans made by commercial lenders to established, viable, for-profit small businesses that need short-term help to make their principal and interest payments on existing and qualifying business debt. While the ARC loans are not made by the SBA directly, they are 100% guaranteed by the SBA and have no SBA fees associated with them.
These loans will be disbursed over a period of up to six month...
By Charles M Cooper · June 17 2009
small business, sba, financing, arc loans
Tips from June 16, 2009 The Small Business tips today will be steps in order to make a successful sales call.
Use a professional greeting and introduce yourself and your company. Let the other party participate in the greeting. Be general and keep your prospect curious by not introducing the product right away.
Express gratitude when informing the prospect the reason for your call. Don’t waste any of their time, and show appreciation towards the prospect. Give the purpose of the call in the form of a question, and sell what your product can do for them and not just the product itself.
Set up a second meeting to give a full presentation. If your prospect wants to discuss your product right then and there, do so. If not, set up a meeting at a future date and give two specific times for them to choose to put you in control.
Thank your prospect for their time and give your contact information.&nb...
By Cheryl Sowa · June 16 2009
small business tips, small business, sales, tips
Government, Politics and the Economy
Obama to Create New Consumer-Finance Agency
According to Treasury Department documents, President Obama will propose an agency to protect consumers of financial products. This new agency would have the power to punish offending firms, set mortgage rules and crack down on deceptive practices. Bloomberg.com
Management and Operations
Fishy Stock
Looking at the example set by Community Supported Agriculture programs, Northeastern fishing groups are selling shares in their enterprises to consumers and paying them back with weekly allotments of local, fresh-caught fish. WSJ.com
By Charles M Cooper · June 16 2009
small business brief, marketing, small business, economy
