Washington Business Center Blog

Seattle Salads: A Fresh and Fast Alternative

2011-09-15T11:11:00.000-07:00

Ashley Metcalf

Seattleite Desirae Rabe Shakes Up a Creative Concoction at the Queen Anne Farmer's Market

(Seattle, WA-August 13, 2011)- Desirae Rabe, the creator of Seattle Salads, values a healthy lunch alternative and recently began producing a delicious and savory meal for her neighbors at the Queen Anne Farmer's Market. Seattle Salads serves as a healthy and quick substitute to the monotonous lunch hour in Seattle, where many opt for cheese drenched pizza, burgers, or teriyaki and white rice.

"I am not scared to break the rules on salads," says Desirae, as she describes her unique Bacon Jalapeno Madness Salad; made with organic mixed greens, corn, black beans, green peppers, red onion, Blue Cheese Dressing, and Tim's Cascade Jalapeno Chips instead of croutons.

Seattle Salads has been serving the Seattle area since June 2011, selling pre-packaged salads and homemade, all natural salad dressings. "There are not many options for inexpensive, quick, healthy on-the-go meals in Seattle," says Desirae, explaining the dilemma many people face when they want a salad, but do not want to spend a fortune at specialty stores. Her largest competitors are Whole Foods and PCC, but Desirae sets herself apart by creating unique, all natural dressings, that, as she states, "are almost impossible to beat."

Lime-Peanut, Strawberry Mint, Dried Apricot, Champagne Pear, and her homemade Blue Cheese are a few of her salad dressings - the most popular being the Lime Peanut. I tasted this popular salad and its unique, Thai infused flavors of lime and peanuts complemented the sweet raisins and hearty beans - it was flawless.

Desirae's largest problem was at first figuring out which way to grow first, and explains how the Farmer's Market has taught her how to efficiently run a business on a small scale. Her plans for the future are to tap into the business lunch catering market, and expand outside of Seattle. She also looks to target local gyms and universities. Her customer service background has acted as a catalyst to her business, and she hopes to open her first shop within the next year.

You can visit Seattle Salads every Thursday at the Queen Anne Farmer's Market, from 3-7:30, through October 6th, 2011. For the most updated information including the new salad of the week, check out her Facebook Page and visit her website at www.seattlesalads.com. Mention this article when you meet Desirae at the Market and buy one salad, get one salad half off.

Lucy Ethiopian Restaurant

2011-09-12T15:01:00.000-07:00

Ashley Metcalf

At Lucy's, the new Ethiopian Restaurant in Seattle, you will be welcomed by a relaxed ambience and flavorful cuisine. Each dish is rich in taste and nutrition and is accompanied by a variety of traditional drinks. Lucy’s has unique appetizers, such as a zesty tomato salad or pastry rolls filled with whole lentils, and delicious desserts to complete the meal.

Ethiopian cuisine is greatly enjoyed by Americans for reasons beyond its selection of flavors. This cuisine has immense health benefits stemming from its use of simple, natural ingredients. The food consists of breads, stews (known as wat), grains and spices. Typically, a meal has a combination of flatbread (injera) with different wat stews.

The main ingredients in Ethiopian cooking consist of powdered chili pepper, onions, ginger, and garlic. Equally, two essentials are butter and vegetable oil, which are simmered or sautéed in a pot to create the wat stew. The rich redness of the stew, stained by the popular paprika spice, when added in small amounts creates an enormous taste. Meats such as beef, chicken, fish, goat or lamb complete most dishes; and for vegetarians, dishes are made of split peas, lentils, potatoes, carrots and chard.

Ethiopian drinks are an exquisite part of the dining experience. Tej, for example, is an ancient honey-based wine that usually initiates a meal, sometimes in place of an appetizer; Talla is a beer made from local grain that often accompanies snacks and coffee can be enjoyed at the end of a meal, arriving with natural honey as a sweetener.

Lucy's Ethiopian Restaurant is open seven days a week from 11 AM to 2 AM, and features live entertainment after 10 PM, every night. Reservations are not necessary, but recommended.

Lucy Ethiopian Restaurant

10000 Aurora Avenue Seattle, WA 98133 Seattle, WA

(206)402-3058

Overlooked Opportunities for Small Businesses

2011-08-25T15:25:00.001-07:00

Ashley Metcalf

It’s easy to get overwhelmed by the harsh criticism centering on our political and economic condition here in the US-especially if you are a small business owner depending on consumer confidence, stability and continued state resources. Given the recent downgrade of US debt and everlasting volatility in the equities market, small businesses have been struggling to gain access to capital, making large expenditures such as hiring, bonuses or expansion difficult to address.

Small businesses from around the US are seeking assistance from places like Biz2Credit, an online credit marketplace, because of the downturn in our economy and the hardships that accompany it-one being access to credit. One firm based in Manhattan named Talents Combine India Inc, needs over $1 million over the next three months to hire some 25 additional programmers for new business. CEO Joe Kadi was denied by numerous large banks when he was seeking capital, and turned to Biz2Credit which helped him turn his business around. Joe Kadi believes we can no longer rely on banks or the government, and says other small businesses will realize this for themselves too.

According to Rohit Arora, CEO of Biz2Credit, businesses continue to have a tough time gaining access to credit, even if they are eager to expand. “As the US economy slows down, small business growth will suffer again” said Arora, noting he has also suspended hiring at his own company, which employs 30. Arora also explains that credit is continuously tightening, and he doubts the Federal Reserve will be able to keep the lending rates near zero. So does this mean expansion for your company has only a doomed fate? I believe not.

Other than depleted hopes and contraction measures, there are some overlooked options for small businesses who seek expansion and access to capital. The Small Business Administration, or SBA, offers online resources, personal counseling and assistance to small businesses across the US.

Most small businesses never think of foreign markets or realize the opportunities that reside outside US borders. US businesses benefit from a competitive advantage for producing high-quality, innovative goods and services; responsive customer service, and sound business practices. Although exporting requires time and commitment- the return will be well worth the investment.

Some positives to exporting include an increase in gross profit, lower transportation and communication costs, reductions in trade barriers, a reduced dependence on the US market, an extended sales potential, and a stabilized seasonal market and sales fluctuation.

If you are interested in exporting abroad, visit the SBA's website to gain access to government programs and services that support exporting. There are SBA senior trade specialists willing to help on your journey.

www.sba.gov/international

Young Professionals in Seattle

2011-07-08T12:52:00.000-07:00

Ashley Metcalf

I recently attended a Young Professional Networking Event, where a wide eyed and lively crowd mingled over cocktails and organic refreshments at a local gem called Belltown Billiards. Young Professional Network, or YPN, is funded by The Seattle Chamber to give professional development and networking opportunities to emerging leaders, ages 21-39, in the Seattle area. I was uncertain what to expect, but was immediately astounded by the enthusiasm carried by this cohort. Such feelings definitely contradict the majority of students in my upcoming graduation class, as well as my own lack of confidence in the job market. Why were they so optimistic about our economy, and conversely, why do I feel opposite? Immediately I began to research and reflect on the event, and although there is no one answer as to why certain individuals remain positive in such a downturn, there are, however, solid reasons why young professionals should remain optimistic- especially in the Seattle area.

If you venture to read through any recent articles, you will see headlines such as these gashing through the pages-Unemployment on the Rise, Obama is a Failure on the Economy, Banks Keep Rates on Hold as Economy Flags. It seems as if low consumer confidence and a stagnant labor market is all that encompasses a once prosperous nation. Quantitative easing by the Federal Reserve (the Fed purchasing U.S. Treasury securities) failed to turn around our economy and give jobs to the 7 million people that lost them. So why did these young professionals have only positive words to say, and encouragement to give?

In the eyes of these emerging leaders, Seattle remains unique for its combination of diverse high-tech sectors, cultural life, access to natural terrain, and strong university presence. The University of Washington alone employs almost 30,000 staff, with annual revenue of almost 4 billion. The Aerospace industry is a key growing industry because of Boeings presence, employing 82,000 people (7,000 engineers) statewide, with annual revenues of 32 billion. Moreover, companies such as Microsoft, Amazon and Real Networks generate annual revenues of $13.6 billion and account for a total of 186,800 ICT jobs. Seattle is also home to a plethora of fields, some include healthcare, marine technology, wineries and the defense department- all generating opportunities for young professionals to tap into.

Young Professional Networks connects more than 600 future leaders in the Seattle area, and has no membership requirements except to be active and passionate about business. The people I met were far more than passionate and active; they carried a sense of pride in their work and confidence in the future. I now realize how imperative it is that all upcoming graduates and current young professionals retain a sense of optimism- as it will secure lasting bonds with other professionals, increase opportunities, and ensure emotional stability in this volatile age.

http://www.seattle.gov/oir/datasheet/economy.htm

http://www.youngprofessionalsofseattle.com/yp/index.asp

Avoid These Ten Common Legal Pitfalls for Women Business Owners

2011-07-07T11:35:00.001-07:00

Renea I. Saade

The number of women owning business is on the rise. According to the 2007 U.S. Economic Census, women-owned businesses grew by nearly 20% nationally from 1997 through 2002, while overall business growth was only about seven percent.

However, women-owned businesses are still failing at an alarming rate. According to an August 2010 report issued by the SBA’s Office of Advocacy in collaboration with the National Women’s Business Council and the U.S. Census Bureau, the average four-year survival rate for women owned business was 66%. In other words, 34% of women owned business fail within their first four years. Male owned businesses have a higher rate of survival with a reported success rate of 72%.

There are, of course, a number of theories and reports that attempt to explain the reasons for this high rate of failure and the discrepancies in success rates between the genders. In general, the most common challenges blamed are: difficulties accessing capital and credit; gender bias; and the often present dual-role that women must juggle as business owners and primary caregivers to their children and/or aging family members.

According to the US Women's Chamber of Commerce, women-owned businesses have not captured a fair share of federal and corporate contracts, accounting for just 3.4% of federal contracting dollars, for example. While willing and able to supply corporations with goods and services, women-owned businesses are often pigeonholed in diversity programs and not considered as mainstream sources.

Another significant contributing factor to the failure of women-owned businesses is that they are commonly caught off guard by a number of legal pitfalls that could have easily been avoided with a little foresight and planning.

Of course, all business owners are encouraged to consult with a trusted legal advisor to adequately review the legal issues and needs specific to their business since each business is unique and the laws applicable to the business vary by state and industry. But, in general here are ten common legal pitfalls:

Selecting Wrong Corporate Entity. There are many choices for creating a corporate entity such as an “S Corp.”, limited liability company, limited liability partnership, general partnership, etc. The decision can have significant tax consequences and determine whether the owner will have certain legal protections from business debts or other liabilities.

Failing to Distinguish Assets & Liabilities. Most business owners start their business or keep their business afloat during lean times using their own funds. It is imperative that business owners document capital investments and address in writing how and when they will be repaid.

Misclassifying Workers. As a business begins to operate and eventually grow, an owner must make the difficult decision whether to hire employees or independent contractors. Improper classification of workers can lead to thousands of dollars in wage assessments, civil fines, and disbarment from government programs.

Overlooking Intellectual Property. To avoid unpleasant events, a business owner should determine the availability of a proposed business name before using it, immediate register a name once it is chosen, and use non-disclosure and confidentiality agreements to protect its intellectual property.

Not Using/Enforcing Non-Competes. These types of legal agreements are critical for the same reasons non-disclosure and confidentiality agreements are critical.

Failing To Implement Appropriate Vendor & Client Contracts. Despite everyone’s familiarity with the advice, “get it in writing,” many business owners fail to implement written vendor and client contracts or ensure that the contracts they do use have all the necessary terms.

Hiring Friends/Family. Hiring friends and family or appointing them to serve on their board of directors can be very advantageous for some business owners. Appointments to officer or board positions must be for substantive reasons and not just in name only.

Being Caught Off Guard When Conflict Arises With Partner/Investor. Like any relationship, one with a partner or investor has its ups and downs and can unexpectedly come to an end. Having a well documented relationship that plans ahead for the “what ifs” that inevitably arise will better enable a business owner to continue to operate despite the termination or change of one of these relationships.

Not Negotiating Commercial Leases. Most business owners view the search for a commercial space as positive as a trip to the dentist. Don’t forget that it is still a renter’s market. Negotiate.

Failing To Plan For Collection Matters. Cash flow problems can kill the best businesses. Owners are wise to ensure their transactions are well documented and establish a plan for taking non-paying customers to small claims court or for working with a collection agency.

By taking steps to avoid, or at least plan for these legal pitfalls, women business owners can continue to blaze the trail ahead.

10 Tips on How to Research Your Competition

2011-05-17T12:58:00.000-07:00

Darren Dahl

Keeping tabs on your competition is a great strategy for growing your business. Follow these tips, from fellow small business owners, on which tools are best and how to get started.

Competitors. Whether you want to admit it or not, they're out there and they're hungry for your customers. While it might seem unfair given everything else you need to keep on top of in building up your business, you might want to consider devoting the time and energy into keeping tabs on your competition. "By monitoring competitors on an on-going basis you get to know their behavior and so can start to anticipate what they will be likely to do next," says Arthur Weiss, managing director of UK-based Aware, which helps businesses gain competitive intelligence. "You can then plan your own strategies so that you keep your customers and win (not steal) customers away from competitors." In other words, keeping tabs on your competition is a great strategy for growing your business.

The good news is that while hiring someone like Weiss can save you or your employees from spending the time to conduct research on your competitors, you can also employ several techniques to get the job done virtually for free. Here are 10 tips from entrepreneurs and small business owners on how you can start gathering information on your competitors.

1. Go beyond a google search. There's no doubt that any research project these days should begin with a simple Google search or visiting your competitor's web page. But there are also a variety of tools either supplied by Google or that relate to Google's search results and AdWords campaigns that might give you interesting insights into your competition. For example, Sheel Mohnot of FeeFighters, a comparison shopping website for credit card processing, says he uses the following tools to keep an eye on his competition:

• SpyFu: "A great resource to research what keywords and Adwords our competitors are buying," says Mohnot.
• Google Trends: For Mohnot, it's helpful when he wants "to stay on top of the latest in [his] industry, comparing [his company] to others, and seeing where people who come to [his] site go."
• Google Alerts: "We keep alerts for ourselves but also for all of our competitors to know what they are up to," says Mohnot. (P.S. Don't forget to set up an alert on your own company to see if anyone else is talking about you.)

2. Do some reporting. There are great and inexpensive resources for checking up on your competitors online and offline. "I recommend routinely tracking what the industry analyst firms like Gartner are reporting about your industry, as well as trade associations and advocacy groups," says Becky Sheetz-Runkle, author of Sun Tzu for Women: The Art of War for Winning in Business. "These organizations are doing research and studies that evaluate the people who are and should be your competitors. What are they telling you about where the industry is trending? Where are the unmet market needs that you can fill?"

Other resources you can use to dig up information on your competitors include: Alexa, Compete, Keyword Spy, Hoovers, and ReferenceUSA.

3. Tap the social network. Of course, given how companies are increasingly using social networking sites like Facebook, LinkedIn, and Twitter as marketing outlets these days, you might be able to pick up interesting facts about your competition—and maybe even your own company—just by tuning in. "We find that monitoring tweets, Facebook posts, blogs, and other new media mentions of our competition is an easy, cost-effective way to stay in tune with and in the know about the public's sentiment about our competitors," says Michael Meschures, the president of Spaphile.com, a weekly deals site that shares high-end spa and beauty offers. "In a similar vein, we track our competition by keeping a very close eye on review sites, such as Yelp and Citysearch. We scour through reviews to find mentions of our competitors' deals, and then target that particular Yelper or Citysearcher's other favorite businesses so we're always one step ahead of the competition." Even if your competition isn't social media savvy, it's a good bet that they produce newsletters—either e-mail or print varieties—that you can sign up for to get the latest and greatest news and updates on things like new products or services they are introducing and what events they might be attending.

4. Ask your customers. When it comes to identifying sources of information about your competition, don't skip over the obvious ones—like your customers. "Speaking to customers is one of the best (and cheapest) ways of gathering real information on competitors," says Weiss. "Whenever you win a new customer, find out who they used before, and why they switched to you (i.e. The reason they were dissatisfied with their previous supplier). Do the same when you lose a customer—identify what they preferred about your competitor. If you gather enough of these stories you'll get a very clear idea on what competitors are offering that customers view as preferable. You can then adjust your own offering to beat that of the competitor."

5. Attend a conference. Attending industry trade shows and conferences—as well as joining industry associations—can be a great way to learn about who your competitors are and what they're offering, says Amy Lewandowski, who heads up marketing at online retailer, PepWear. "We attend these conventions anyway so we make sure to visit competitors' booths while we are there and observe their interactions with customers, pick up literature, and check out the quality of their products," she says. "I am always shocked that most of them never visit our booth."

6. Check in with your suppliers. If you work in an industry where you share the same suppliers as your competitors, it could pay to ask them some simple questions. "Talk to your suppliers and spend time getting to know them," says Zach Berning, co-owner of Overland Gourmet. "While they may not tell you what your competition ordered or their volume, ask better questions." For example, if you ask them how many units of a certain product have been pre-ordered for the next month, you might find out not only what your competition might have ordered, but what other products your supplier might be bringing in as a result.

7. Hire your competition… Another strategy is to hire employees from competing firms—especially sales people—and team up with competitors' partners, suggests Sheetz-Runkle. "No one knows more about the inside of those organizations than the employees," she says. "Find out all that you can about how these companies operate, and more importantly, what's on the horizon for them? Where are they taking their business? What markets are they venturing into? How are they leveraging innovation to cut costs and advance productivity? Where is the highest level of dissatisfaction with their products or services? No one has more and better intelligence when it comes to sales than disgruntled sales people."

8. ...And watch who they're hiring. You can also learn something by studying the kinds of jobs your competitors are looking to fill, says David B. Wright, the chief marketing officer at W3 Group in Atlanta. "For example, if a company is hiring a programmer, they will include information about exactly what technologies the candidates need to know, which tells you what they use," he says. "Also look at what positions they are hiring—if they're looking for a patent attorney, they could be working on some big new inventions. If they're hiring for several HR, they may be preparing to expand overall."

9. Conduct a survey. If you're interested in getting a comprehensive report of all the players in your industry, you might consider conducting a survey. "A year or so ago, I hired someone to e-mail several of our competitors and ask them the same questions about their services," says Jeff Huckaby, CEO of RackAid, an IT management business in Jacksonville, Florida. "We looked at price, response time, how the sales request was handled, etc. By doing this, we learned how to clearly differentiate our sales process from that of our competition." While Huckaby says he learned a lot from the process and plans on doing it again, he does have one caveat: "I am a big fan of outsourcing this. You don't want to run into someone you were spying on at an industry conference."

10. Call 'em up! Once you have done enough research to identify who your competitors are, you might want to try an old school tactic to take it from there: Just call them up and ask away. "One of the best ways to research competition is to call them and ask whatever you'd like," says Jordan Harbinger, the co-founder of The Art of Charm. "You'd be surprised how often companies will tell you everything you'd like to learn over the phone, especially if the question is phrased in a context that makes sense. For example, if you want to know how many people work there, you can say: 'I'm looking for individualized attention, and my fear is that your organization is too large, and I'll get lost in the shuffle. How many coaches do you have on staff? Oh, wow, that's quite a few. How much support staff do you need for a team that size?' This approach has served me very well."

4 Essential Way to Attract Investors

2011-05-03T14:52:00.000-07:00

Doug Collom

(Editor’s note: Doug Collom is vice dean and an adjunct lecturer on venture capital and entrepreneurship for Wharton San Francisco. He submitted this story to VentureBeat.)

There really isn’t a one-size-fits-all formula that can be followed for optimizing the chances of attracting professional investment. Each company is different and faces challenges and issues that can be overcome only through creativity, perseverance and resolve.
There are, however, some elements that are so basic they cannot be ignored. Most institutional venture investors either expressly or intuitively address these requirements whenever they evaluate a business plan for a potential investment. Here are four to be especially aware of.

Is it a company or is it a product? – With the dramatic level of innovation that’s taking place through startups in the social media/Web 2.0/online business arena, this question is increasingly important. Implicitly, investors want to know the product development – something that can go in a variety of directions. For example, can the product be developed to include additional features and functionality that will effectively redefine the offering in the eyes of the customer? Can the product be adapted to address the needs of more than a single vertical market? Is the product so compelling that the emphasis in the business plan shifts to the customer acquisition strategy?

The mobile application market is a good example of a product category that, in general, doesn’t offer a sufficient foundation to support a company. Individual app developers typically don’t require much capital or labor to be successful, and they don’t require professional investors. In contrast, there are online gaming companies—Zynga, Playdom, Social Gaming Network and others—whose product roadmaps concentrate entirely on the rapid development and production of new “hits”. Businesses like this require all the resources and disciplines of a full-fledged company to support their growth objectives.

How big does the market have to be to attract investment? – After the dot-com bust, the anecdotal answer to this question was $1 billion - or at least an annual growth rate that would get you close to $1 billion quickly.

In 2011, there is far more latitude, depending on the business plan of the company. With the advent of open source software, online development tools, cloud computing, and the ability to reach massive customer markets instantly through the Internet, startup companies have become much more efficient in product development and customer acquisition, and can more rapidly get to proof of concept and positive cash flow than ever before.

As a result, companies with online business models, for example, may not require nearly as much capital as they once did. Moreover, angel groups aren’t swinging for the fences the way the mainstream institutional VC firms do. Instead, (to continue the metaphor) they’re frequently only looking to hit singles and doubles, and may be quite content to realize exits in the range of $10-$100 million.

Is prior management-level experience required? – Obviously, it doesn’t hurt. In particularly tough times, prior executive experience in managing a VC-backed startup may be a non-waivable requisite. Management experience of any kind is always a positive factor, since it directly relates to the credibility of the management team in the eyes of the investor.

Obviously, there are many amazing startup companies that have been built by founders with no previous experience, and lacking this experience should not deter an entrepreneur who believes he or she can build a great company. There are effective ways to work around the experience issue if it is an impediment to getting an invitation to present before a VC firm. Teaming up with a co-founder who does bring the necessary experience, finding a mentor who carries personal credibility, or organizing a board of advisors with relevant experience and expertise are all ways of addressing the issue.

Do you need to have customers or even first revenue? – There is a lot of dialogue around the need to “bootstrap” early stage companies to the point where a product has been developed and commercially released. This is particularly true of social media, gaming and other online business companies. In seeking to access professional capital, it comes down to supply and demand. Professional investors will look to tangible indicators of success and validation of the business model in evaluating a company’s prospects.

These might include website traffic, conversion rates, your ability to launch a beta and more. Without anything but an idea to show, very few companies get funded to any meaningful degree.

For more traditional “brick and mortar” companies, the ability to get to “proof of concept” through bootstrapping methods is much more difficult. It is also likely that the amount of all-in professional capital necessary to support a company in this category to an acceptable exit—including the amount of so-called “seed stage” funding—is substantially higher than for a social media or gaming company, for example. As a result, there may be a lower expectation that founders will be able to bootstrap to get to professional funding, but the emphasis will be commensurately higher on the other investment basics, including size of the market, likely market impact of the technology, barriers to entry, credibility of the management team and the like. As a result, the bar to funding for companies in this category is fundamentally as high.

11 Things You Need To Know About Writing A Winning Press Release

2011-02-11T10:39:00.000-08:00

1. What is a press release? The purpose of the press release is to connect with the media. In fact, the press release is the expected first communication with a media outlet. Perhaps you are looking for a story, interview, or a TV appearance – the press release is the right place to start. [1]

2. Why do I need a press release? Press provides a third-person credibility not obtainable through paid advertising. Editor-approved information is said to have 10 times the impact of traditional, paid advertising. [2]

3. Where do I start? What’s the most important thing that determines if your press release will get picked up or tossed in the trash? The headline. It should be both captivating and informative. Spend 50% of the time you set aside for writing your press release on the headline. Headlines are written in bold and typically use a slightly larger font, such as 14pt.

Here’s an example of crafting a compelling headline:

Don’t write: Bikram Yoga Studio Opens in Belltown
Instead write: New Study Reveals Bikram Yoga is More Effective than Running for Weight Loss[3]

4. How long should it be? Always remember, less is more! Maximum is 2 pages, but 1 is ideal.

5. What should I write about? Include the “who, what, where, when and why” of your story. Keep it factual. Your writing should be clear, concise and ideally have a hook that is newsworthy.

6. How do I create a “hook”? A press release is a good way to emotionally connect with your market. Show the human side of your business by including direct quotes from yourself in the article. This makes it a breeze for journalists that want to publish a story about your company!

7. What about the format? Do a little research. Look at the press releases of similar companies online to get a general idea of the tone and content. Make sure that you write in 3rd person format (he/she rather than I). Include FOR IMMEDIATE RELEASE: at the top left hand side of your document. Double space your text, use a 12pt. font and include one inch margins on each side. Signal the end of the press release with three # symbols (# # #), centered directly underneath the last line of the release. This is a journalistic standard.

8. How can I increase my chances of being found on Google? Use the same key words multiple times in your press release to increase your SEO (Search Engine Optimization). Better yet, try to get this key word in the beginning of the headline.

9. When should I send it? Send it around 2 -3 pm on Wednesday, Thursday or Friday. If you send it in the morning, you risk that chance that it will be just another email. Sending it mid-afternoon ensures they already went through the morning rush and will have more time to give your press release the attention it deserves. Make sure the reporter has plenty of time to actually write a story!

10. Who do I send it to? Do your homework. Look through publications that you would like to be featured in and identify editors and reporters that have published stories related to your industry. Call or email a query first to see if they would be interested in accepting your press release. [1] If you are emailing your press release, include it in the body of the email.

You may opt to use a press release distribution company that will send your press release to a large number of journalists; however there are fees associated with using these services. Here are the rankings of the best press release distribution companies:

http://www.topseos.com/rankings-of-best-press-release-distribution-companies

11. Can I include a link to my website? YES. Forgetting to include pertinent contact information is a common mistake people make when sending out their press release. Make sure you include your name, phone number, email and URL. If you have a website, include a page on your website that has a current press release posted and available at all times.

References:

Building a News Release; www.canadaone.com
Unleash the Power of the Press, www.prworkzone.com
6 Tips to Writing Effective Press Release Headlines, http://www.creativepublic.com/writing-effective-press-release-headlines.php

2010-04-07T14:57:00.000-07:00

The White House has published information about the new Health Care Reform legislation and what it means to small business. The following is quoted from the White House website. For more information, please visit: http://www.whitehouse.gov/healthreform/small-business

"Six Ways Health Reform will Help Small Businesses

Small businesses want to provide health coverage for their workers, but they face extraordinary challenges in doing so, including premiums that are 18 percent higher on average than large businesses pay for the same coverage. Health reform legislation signed by the President includes a number of important benefits to help make coverage more affordable:

1. Establishes a Small Business Health Care Tax Credit to Help Small Businesses Afford the Cost of Covering Their Workers.
Status Quo: Small Businesses Face High Costs in Providing Health Insurance to Their Employees. Small businesses face higher costs and few incentives to offer health insurance coverage to employees.
Solution: A New Tax Credit Takes Effect Immediately to Help Cover Premiums Small Businesses Pay. The Small Business Health Care Tax Credit can cover up to 35 percent of the premiums a small business pays to cover its workers. In 2014, the rate will increase to 50 percent. Learn more about the Small Business Health Care Tax Credit.

2. Creates Health Insurance Exchanges to Increase Bargaining Power and Reduce Administrative Costs
Status Quo: Small Businesses Have Little Bargaining Power, Face High Administrative Costs. Currently, small businesses face not only premiums that are 18 percent higher than large businesses pay, but also face higher administrative costs to set up and maintain a health plan. The premiums they pay have 3 to 4 times as much administrative cost built into them as plans in the large group market. They are also at a disadvantage in negotiating with insurance companies because they lack bargaining power.
Solution: Health Insurance Exchanges will Provide More Choice, Lower Prices, and Greater Bargaining Power for Firms with up to 100 Employees. Health reform will change this dynamic. Starting by 2014, firms with 100 or fewer workers will be able pool their buying power and reduce administrative costs by purchasing insurance through an exchange. According to CBO, coverage that small businesses purchased through an exchange “would have lower administrative costs, on average, than the policies those firms would buy under current law, particularly for very small firms.”

3. Ends Price Discrimination against Small Businesses with Sick Workers
Status Quo: Small Businesses with Sick Worker Face Higher Prices, Sudden Price Increases. Currently, small businesses with just one sick worker can face significantly higher premiums, and having a worker fall ill can lead to a precipitous price increase -- raising premiums just when insurance is needed most.
Solution: Ending Price Discrimination Based on Illness. Health reform will end this price discrimination. Starting in 2014, “community rating” rules will prohibit insurers from charging more to cover small businesses with sicker workers or raising rates when someone gets sick.

4. Increases Health Care Security to Unlock Entrepreneurship
Status Quo: Health Insurance Insecurity Creates “Job Lock,” which Inhibits Entrepreneurship. Our current health care system inhibits entrepreneurship and small business formation by locking workers -- especially those with families or with any sort of health problem --into jobs at large firms that offer family coverage and have a big enough risk pool to absorb the cost of covering pre-existing conditions. This “job lock” causes many workers to stay at large firms even if they would be more productive working at a small business or becoming an entrepreneur.
Solution: Health Security Empowers Entrepreneurship. By providing health security for every American and eliminating exclusions for pre-existing conditions and price discrimination against those who are sick, health reform will make it easier for small businesses to attract the best workers and easier for entrepreneurs to strike out on their own.

5. Reduces the Hidden Tax on Small Business Employees with Health Insurance
Status Quo: Hidden Tax Adds $1,000 to Every Premium. Currently, the cost of treating the uninsured adds a “hidden tax” of over $1,000 to every health care premium.
Solution: Reduce Hidden Tax by Dramatically Expanding Coverage. Health reform will significantly reduce this tax by covering an additional 32 million additional Americans by 2019.

6. Reduces Premiums in the Small Group Market.
Status Quo: Higher Premiums Mean Coverage Is Unaffordable for Small Businesses. In a recent national survey, nearly three-quarters of small businesses that did not offer benefits cited high premiums as the reason.
Solution: Health Reform Will Lower Costs, Making Coverage More Affordable. Taken together, the measures described above will significantly reduce premiums for small businesses. According to CBO, health reform will reduce the cost of a given plan in the small group market by 1-4 percent by 2016."

Source: United States White House website.

Five Facts about Home Office Deduction - information from the IRS

2009-08-26T14:15:00.000-07:00

The IRS has provided the following information to small business owners about the Home Office Deduction:

"Five Facts about the Home Office Deduction"

"With technology making it easier than ever for people to operate a business out of their house, many taxpayers, entrepreneurs and small business people may be able to take a home office deduction when filing their 2009 federal tax return next year.

Here are five important things the IRS wants you to know about claiming the home office deduction.

1. Generally, in order to claim a business deduction for your home, you must use part of your home exclusively and regularly:

---As your principal place of business, or
---As a place to meet or deal with patients, clients or customers in the normal course of your business, or
---In the case of a separate structure which is not attached to your home, it must be used in connection with your trade or business

For certain storage use, rental use or daycare-facility use, you are required to use the property regularly but not exclusively.

2. Generally, the amount you can deduct depends on the percentage of your home that you used for business. Your deduction for certain expenses will be limited if your gross income from your business is less than your total business expenses.

3. There are special rules for qualified daycare providers and for persons storing business inventory or product samples.

4. If you are self-employed, use Form 8829, Expenses for Business Use of Your Home, to figure your home office deduction. Report the deduction on line 30 of Schedule C, Form 1040.

5. Different rules apply to claiming the home office deduction if you are an employee. For example, the regular and exclusive business use must be for the convenience of your employer.

For more information see IRS Publication 587, Business Use of Your Home, available on IRS.gov or by calling 800-TAX-FORM (800-829-3676).

To get the most timely IRS information, news and products and services, subscribe to e-News on IRS.gov at http://www.irs.gov/businesses/small/article/0,,id=154825,00.html, click “Subscribe Now” at the bottom of the page and enter your e-mail address."

U.S. Small Business Administration publishes new YouTube informational channel

2009-08-26T09:23:00.000-07:00

The SBA has launched it's own YouTube channel, and is now posting informational videos on the site: http://www.youtube.com/sba.

The site currently includes an introduction to SBA programs and services, plus a 10-part "Delivering Success" series co-produced with the U.S. Postal Service. Future videos will provide more in-depth information about SBA programs and services, including how to take advantage of the Recovery Act loan programs, government contracting opportunities, exporting, counseling and training on starting and growing a small business, and small business success stories.

2009-08-14T15:07:00.000-07:00

The IRS reminds small businesses that the Fall filing deadline for taking advantage of the expanded business loss carryback option is coming up soon. Eligible individuals have until October 15th and eligible calendar-year corporations have until September 15th.

Under this option, losses from 2008 can be carried back for up to five years, instead of the usual three years, which could mean a special tax refund. For more information, visit: www.irs.gov/newsroom/article/0,,id=211964,00.html

Business Book Review - Blue Mountain Arts

2009-07-17T16:36:00.000-07:00

Blue Mountain: turning dreams into reality: the story of Blue Mountain Arts and bluemountain.com, and two unlikely entrepreneurs, who went from living out of their pickup truck to being the most successful husband-wife team in publishing with over 1.5 billion greeting cards sent.

Recently, in doing some research for a client who wants to start a greeting card line, I came across a different kind of business book by Susan Polis Schutz, of Blue Mountain Arts, a multi-million dollar greeting card business and early innovators of the electronic greeting card.

Expecting it to be a “how to” book about starting a greeting card business, I was pleasantly surprised to learn that it is more about “how they started, adapted and successfully defended their products."

I don’t want to give away all of the good stuff. It’s a quick read and a book that every business owner or soon to be business owner should read.

Check it out at your local library, read it and let me know what you think.

25 Ways to Help Survive The Recession

2009-03-06T20:39:00.000-08:00

Growth masks problems, and many of these things you should be doing all the time, recession or boom times.

1. Be responsive – innovate – look for opportunity – look at trends in your industry. The federal government’s stimulus package is putting money into lots of things, including education, green technology and public infrastructure. There is also a safety net for those who have lost their jobs. What opportunities are there for your firm?

2. Cash flow, cash flow, cash flow. Although an appropriate amount of debt can help you grow your business, too much debt creates too much risk, due to negative effect on cash flow. Do REALISTIC cash flow projections and update them at least once a month. It is possible to survive decreased profits, but you can’t survive a continuing negative cash flow.

3. Keep good, accurate, timely books and pay attention to the trends – identify problems in advance.

4. Lower costs. Negotiate lower lease rates, or even rent relief for a few months. Look around…do you see empty store fronts? You may have more negotiating power than you think.

5. Analyze your greatest expense and do what you can to lower it. If sales are slow you may need to lay off staff – don’t wait too long to take action.

6. Look at every expense to lower it. Even small savings can add up.

7. If you have cash and you are looking for equipment, you may be able to find huge bargains now.

8. Focus on the customer – if you are less busy, you have time to give A-1 platinum-level service to each of them. If they stick with you, they are worth their weight in platinum!

9. Sell, sell, sell – get out there – remember to sell the benefits!

10. With the extra time available from decreased demand, sharpen up those marketing materials, website and selling skills. Analyze your marketing and advertising expenses and focus on the ones that provide a return – the ones that work.

11. Get on social networking sites like Facebook, MySpace, Linked In, BizNik, etc.

12. Network!

13. Talk to customers, find out what they need and find a way to provide it if possible.

14. Restructure debt to create a more positive cash flow.

15. Educate yourself – learn about financial statements and how you compare to industry standards – (often marvel at how ignorant most small businesses are about their finances – now is the time to learn the meaning and importance of a balance sheet, P&L and ratios).

16. Training opportunities are everywhere – some are free and others are quite reasonable.

17. Shop around for bargains!!!

18. If you have the cash flow, negotiate discounts for paying upon delivery.

19. It may not make sense to totally cut advertising – you can continue to build your brand while other companies retreat.

20. If something isn’t selling, mark it down, move it out and get the cash to buy newer, fresher inventory.

21. Get a handle on A/R – don’t let them get out of control, you need the cash to operate on. Invoice immediately, don’t wait until the end of the month.

22. Listen to your employees – they are a great source of information – ask them for ideas on how operations can be improved and expenses curtailed.

23.Negotiate better rates with service providers such as accountants and attorneys.

24. Negotiate better rates for employee benefits such as health insurance. Find a cheaper credit card processor.

25. GET SOME HELP! A lot of people come to us looking for grants – the best grant you’ll get is a grant of time and expertise from the WBCs, the SBDCs and SCORE.

2009-03-02T19:33:00.000-08:00

Hello!

We are all wondering about this recession...have we reached the bottom, and how long will it take to recover? There seem to be a lot of differing opinions out there...the fact is, nobody really knows. What can you do to help your business weather the storm?

Unfortunately, some businesses may not make it through, but we are still seeing people starting businesses, some businesses haven't been too badly impacted, and others are taking this opportunity to reinvent themselves.

Cutting costs is the first place to start, but concentrating on marketing and sales will help generate the revenue your business needs. Revisit your marketing plan and take a look at each of your marketing efforts to see if they are effective. If you find yourself with extra time, take the time to update your brochures, website and other marketing materials. This is also the time to ensure the very best buying and after-the-sale experience for your valuable customers.