Storytelling — Small Business Greats.
I love small business. I grew up in a family business and I’ve been an entrepreneur since my early teens. I think every small business owner has a powerful story to tell. In fact, I told my husband that some day when I retire I want to drive across the U.S., stopping in small towns and writing about some of the business owners in the area. Small business is the heart of America. Well, as luck would have it, someone beat me to the punch. (Also I really can’t see myself ever retiring.) Two filmmakers from New York, Trisha Dalton and John Sears, are on a 7,300 mile road trip across the country to tell small business stories, courtesy of Capital One Spark. After starting in the Northeast, I caught up with them just outside of Oklahoma City. It’s a campaign titled “I Am Small Business Proud,” (#smallbizproud) sponsored by Capital One Spark Business. Naturally, I was interested in learning how these two storytellers landed such a fun gig. Dalton shared with me that Capital One Spark Business was reaching out to small businesses and they thought it would be great to film it. The company was looking for a documentation team that could manage a cross country tour for 10 weeks. “John and I are both small business owners and the idea to travel the country and tell the stories was really exciting to us,” she said. “We film one or two stories every day or two in each city, but we also stop by others and try to meet as many as we can,” Dalton explained. In addition to documenting the stories, the filmmakers are spending money with local small businesses. For example, in Nashville they stayed at Crocker Springs Bed & Breakfast where they enjoyed playing with and filming the owner’s miniature donkey, Chewy. In Houston, they were wowed by the “Frozen Awesome” ice cream at Eatsie Boys. So far, the duo has spent $40,000 with small businesses across the country. I asked Dalton what kind of mood small businesses are in these days. “It’s been sort of surprising. When we were preparing for the trip, a lot of people said it is a hard time for small business, but we found they are doing well and a lot of people are starting small businesses,” she responded. Both Dalton and Sears hope people will watch their videos and they will walk away with a true understanding of the pride and passion these entrepreneurs have in their enterprises. They explained that the businesses owners they’ve met and have profiled have a ‘stick to it’ attitude. Failure is not an option for them. “When they tell the story of how they got started in their business, it’s really inspiring,” Dalton added. “As one business owner in Austin noted, whenever you start a business you have a 99 percent of failing. You have to be pretty crazy.” I’d say I have to agree, but as many of the business owners Dalton and Sears profiled, I love what I do and I wouldn’t have it any other way. You can watch the video profiles on the “I Am Small Business Proud” YouTube channel, but let me warn you, they are so inspiring it’s difficult to stop. Much like a familiar...
read moreThink Small to Grow Big in Your Small Business
Often the most positive thing you can do for your business is to be negative: “We tend to focus much more. People think focus means saying ‘yes’ to the thing you’ve got to focus on. But that’s not what it means at all. It means saying ‘no’ to the hundred other good ideas that there are. You have to pick carefully.” That’s Steve Jobs talking about how he piloted Apple. Consider how narrowly focused Apple Computer is. For many years, its climb to the top was built on a small handful of elite computers. When Apple finally said “yes” to the iPhone, it had a product that met or exceeded every customer expectation and integrated with the Apple computing experience. Think different? Maybe not. In fact, what made the iPhone and later the iPads successful was not that they were different Apple products. What made them successful is that Apple users already knew how to use them because they were built around the same core suite of Apple software: iTunes, iPhoto, Calendar, Contacts, and more. However, strategically adding those products to the Apple catalog did diversify its offerings. It expanded within its niche, i.e. Apple pulled more users into its niche. By the way, some years earlier, Apple tried to expand outside of its niche by licensing its operating system and allowing other manufacturers to build “Apple” computers. It was a strategy based on how the PC market grew. However, that road to diversification was a dead end for Apple. We might define the Apple niche as user-friendly, reliable, high-quality, integrated, branded computing devices. Steve Jobs always wanted Apple products to be seen as simple appliances that just worked for people and made their lives easier. Sum it up What is your niche? Can you define it in a sentence? If you have to keep adding commas, phrases and if-then clauses to your definition, maybe you don’t have a niche. And, if you don’t have a niche, how can you possibly focus and refine your efforts? Expanding your customer base is a good idea, except when it causes you to lose focus on the attributes of your business that attracted your original customer base. The well known saying, “You can’t satisfy everyone” leads to an important truth: When you try to satisfy everyone, you end up satisfying no one. We’re well into spring now and summer is just around the corner. Folks with green thumbs keep the garden shears busy during both of those seasons. In early spring, they trim back much of last year’s growth to re-focus the shapes of shrubs. They prune dead wood to make way for new growth. In the summer, they deadhead flowering annuals to keep them looking fresh and promote more blooms. Don’t ‘jump the shark’ Be similarly aggressive in your approach to pruning your business back to expose its core. Don’t add products or services willy-nilly; understand how they work within your niche. In show business, they call desperate attempts to do something new and unusual to attract an audience “jumping the shark” after an infamous episode of “Happy Days.” Maintain focus on your niche; it will keep your small business a safe distance from those ever-hungry...
read moreIs Your Small Biz Ready to Leave the Nest? What You Need to Know to Make the Right Choice
Your business is booming. Congratulations! Now you’re starting to consider moving out of your home-based office to a commercial office location. That’s a big decision and one that shouldn’t be taken lightly. Finding the right location for your small business is critical. First, this is a good time to consider a commercial space because there is a significant amount of available inventory. During the recession, many businesses closed their doors leaving office buildings and retail districts with availability. That means you should be able to negotiate a reasonable price. However, do you really need to leave the nest? For example, do you want to hire employees to help you grow? Before you take on additional overhead ask yourself if your team can work virtually. I haven’t had an office since 2010. Technology allows me to work from anywhere, and there are members of my team I’ve never met in person. If you’ve done your homework and you’re sure a move is the next step, then make a list of what you need. Here are a few things to consider. Location. Do you need to be in an area with a considerable amount of foot traffic, or is an industrial office park acceptable? What about convenience for your clients or customers? If most of your business comes from one geographic area, you don’t want to locate your business somewhere that will be a long drive for your customers. Also, if you’re an interior decorating firm, you may not want to locate in a building primarily filled with medial offices. I’d recommend you find a location with more synergist tenants. Understand ALL the Costs. Make sure you understand all the costs involved in a commercial lease. There is more to consider than just the monthly rent. Who is responsible for building out your new work space? Many landlords offer a certain dollar per square foot for a build out. Is that sufficient for your needs? What about utilities, insurance and trash pick-up? And don’t forget to include items such as office furniture, equipment, signage, new business cards, etc. Room for Growth. As your small business continues to grow, you may find you need additional space. Make sure there is room for expansion. I’m sure you’ve seen restaurants who have built large followings in a small space and as a result, they are nearly impossible with which to get a reservation. These small businesses are hamstrung by their inability to expand. Reasonable Time. Many landlords want business owners to sign long leases. While it’s unlikely you can negotiate a one or two year lease, try to avoid committing yourself to a long-term lease. Most likely, the landlord will require you to personally sign for the lease. So if your business can’t support the on-going commitment, you’ll be personally responsible. Get Professional Advice. Commercial leases are tricky. Don’t try to go it alone. Spend the money on hiring a lawyer who is familiar with commercial leases. It will be a smart investment. It’s an exciting time for your business as you consider this move. Make sure you make smart, not emotional...
read moreCustomer Service — Above and Beyond at Cafe’ Eau
The restaurant business is fickle. You can be on top of the world one day and the next day find a room full of empty tables. The market reaction isn’t quite that quick, but the point is word of a few bad experiences spreads fast and soon customers have moved on. That’s why I want to share an experience that happened to me last week that is a perfect example of the right way restaurant’s should treat customers to maintain a loyal base. My husband and I decided to try a neighborhood restaurant known for its beautiful out-door dining. After being stuck inside during the horrible winter weather, we were ready for a little sunshine. We were seated right away, ordered drinks and an appetizer and enjoyed relaxing in the ambience. When our waitress, Amber, returned, we gave her our dinner order. I selected a New York strip steak, medium rare — and I emphasized on the rare side. She smiled and nodded, indicating she understood. Unfortunately, when our food arrived my steak was medium at best. Definitely not medium rare. However, I’m not a complainer and decided it wasn’t worth making an issue out of it. I had eaten about half the steak — which was all I wanted — when the manager, Tony, stopped by. “Is everything to your liking,” he inquired. “Yes, it’s all fine,” I replied. “Was your steak prepared to the right temperature,” he asked? “Well, now that you’ve asked me, no it wasn’t. I asked for medium rare,” I said. Tony looked at my steak and said, “That’s definitely not medium rare.” Then he insisted on returning the steak to the kitchen to make sure they knew that this is not the way to serve a medium rare steak. And despite my protest, he brought me a new meal, packaged to take home. I was wowed at his proactive management of the situation. He could have easily walked away and let the whole thing slide because I really wasn’t making any issue out of the incorrectly cooked steak. However, I also wouldn’t have been too excited about returning to this restaurant in the near future. Now, my husband and I will definitely return. Tony turned an average experience into a WOW! experience. Think about your own business. Are you going above and beyond to provide the best customer experience. Being good isn’t enough in today’s competitive market. You need to WOW your customers to build a loyal brand following. Thanks to Tony and Amber for the great service. We’ll see you at Cafe’ Eau soon....
read moreSmall Businesses Honoring Our Fallen Veterans This Memorial Day
It’s Memorial Day and many small businesses around the country are honoring our fallen soldiers on this federal holiday. For me, it’s a special day to honor my father who served in the Navy in World War II. The ship in this blog post photo is the one he served on in the Philippines. After his military service, my dad used a VA loan to go to mortuary school to become a licensed embalmer and funeral director. Eventually, my mother and he launched their own funeral home in the small town I grew up in where they served the community until we sold the business in 1999. My dad, like many veterans, was a hard-worker. He was loved by so many and was always willing to help someone in need. He epitomizes everything good about our country. As we celebrate this holiday, think about ways in which your small business can honor our Veterans. Consider participating in a local parade. Highlight soldier’s stories on your website or in your company newsletter. Donate product, services and/or time to local Veteran organizations. Most importantly, when you’re hiring, please consider those who have served our country. Hope you all have a wonderful holiday weekend. ...
read moreHow Your Small Business Can Cash In on the Pop-up Store Movement
Not long ago I went to a food truck gathering and as I was weaving my way in and out of the monster trucks sampling their delights, I stumbled on a vendor “that wasn’t like the others.” It was a vintage clothing store on wheels. The store is able to locate all around town and take advantage of special events, foot traffic trends, and hold down its overhead. It’s part of the pop-up store revolution. Well, I don’t know if it’s a revolution yet, but some of them are sure fighting hard to make an impact on retail. Another variation of this would be a seasonal store that opens in a temporarily vacant space. We often see this during the holiday season. Also, I’ve seen some that use smaller vehicles—vans really—from which they pull out display racks and cases so they can set up on the sidewalk. The concept of pop-up stores has the potential to be the highly-coveted “win-win-win.” Let me explain. Low startup costs First, as you see from the examples I’ve cited here, folks who don’t have the resources to start a brick and mortar store can put their inventory on wheels and locate their retail business in the ideal location virtually every day of the year. The overhead is low and moving around will help you create brand awareness all around town; especially helpful if step number two is opening a permanent, fixed-location store. And hey, if you have some nomad blood coursing through your veins, you can travel the country and take your livelihood with you wherever you go. It’s also a win for landlords. If you’re dealing with a vacancy, consider offering a short term lease to a pop-up store. There are few things as bad as an empty space. One empty storefront in a shopping area puts a damper on everyone’s sales. That not only makes it difficult to find a new tenant, it also increases the likelihood that other stores will leave the area. A pop-up store will create buzz, bring more foot traffic to the area and who knows, if the pop-up does well, you may have found your next long-term tenant. Create some synergy The third “win” that I see with pop-up stores relates to the point I just made. Are you a traditional retailer? How about scheduling a pop-up store to set up in your area from time to time. It’s an easy way to attract customers to your location that might not otherwise come by. Traditional retailers might also consider expanding their business by adding a pop-up store. It can deliver flexibility that could be an advantage compared to opening a second fixed location. I always get very excited by business ideas that have a very low barrier to entry. Pop-up stores often have this attribute, although some can be very elaborate and costly. (Check out these high-end pop-up stores.) In any case, take the pulse on the pop-up store scene in your area. You might find a place where you fit...
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