All posts tagged micro business strategies

Tips Thursday: Seasonal Demand in Small Business

Since we celebrated Memorial Day on Monday and kicked off summer, the team started discussing how micro businesses experience seasonal demand and how they account for it. For this edition of Micro Business Tips Thursday, we asked our Facebook community if their business relied on seasonal demand. Our favorite response came from Roger Taylor.

Roger says, “Some of our business is seasonal, we cater to the hikers and campers in the spring and summer, in the fall we cater to the hunters. We have been able to bring in more products for year round sale, however, everything we hand make for the most part is spring, summer, and fall. This has forced us to diversify our products for the late fall and winter months. So far it has been successful.”

What do YOU think? Do you diversify your products based on seasonal demand? Tell us in the comments section.

MBR: Cheers, to Tax Freedom Day?

As the weather turns warmer, we are getting ready for summer which means BBQ’s, ice cream and the beach are on our minds. This week we have a variety of articles that peeked our interest, let’s call them a fruit salad of news. Hope you have a great weekend, and here is this week’s edition of the Micro Business Roundup.

New Shopping Habits: When Your Clients Go Mobile—You know that almost everyone has a mobile phone, but what does that mean for your small business? “The question is: What are your customers’ shopping habits and how can you become a more integral part of it?” This article helps you to look at your web presence what is appropriate and what you should be doing

Small Business Owners Ready to Hire, GrowBiz Survey Shows— Considering hiring new employees you are not alone, check out this studythat says small business owners are feeling increasingly optimistic about the economy, and as a result, more than half of them are planning to hire in the next 12 months.

Small Business Pinterest Starter Guide—Great resource for information on how small businesses can use Pinterest. “Pinterest offers a new channel for businesses to connect with existing and new customers. But is Pinterest right for your small business? Should you invest your time to learn yet another social network? How can you best leverage Pinterest to increase sales?”

Employee Benefits Uncle Sam Won’t Tax—Did you know Tax Freedom Day 2012 arrived on April 17 this year? Better yet do you know what that means, According to the Tax Foundation, that means every dollar that Americans earned from January 1 through April 17 went to pay federal, state and local income taxes. Everything earned from April 18 until December 31 is yours to keep. Mike Periu has some suggestions for way reward employees that can’t be taxed, he says “Let them Travel, Let them Call, Let them Eat.”

It’s an image heavy world, just ask InstagramWe all know that imagery is becoming more and more essential in communication channels especially social media. Check out tips on how to increase your use of imagery and what can serve as a good imagery for influential information.

How To Set Smart Goals for Your Small Business

We have all heard the excuses for not setting goals, mainly people don’t see the value in taking the time to really  think about what they want to accomplish in the short-term and how that will affect  their long-term success.  As a small business owner, it is important to set goals as they serve as a guide in making decisions.

The excuses for not setting goals range from I’m too busy,  I know what I need to do, I have been doing it this way and it works or I don’t set goals because I am afraid I won’t reach them.  Here are 7 reasons  why goals are useful and worth creating:

  1. Contribute to the success of the company
  2. Set specific expectations
  3. Create clear measurable performance standards
  4. Self-motivate
  5. Focus on what is important

    We asked our Facebook Fans what their top business goal is for 2012, here is a word cloud of what they said.

  6. Boost job and personal satisfaction
  7. Help to prioritize efficiently

Goal setting might appeal to common sense, but sense in goal-setting isn’t very common. When setting goals make sure they are SMART goals, Specific, Measurable, Achievable, Relevant, Time-bound.

Specific: Goals must be clear and specific. Goals should say exactly what is expected, when and how much. When goals are specific, progress can be monitored.

Measurable: If goals are not measurable, then it is not possible to monitor progress toward successful completion. Milestones are important and should be recognized.

Achievable: Goals must be realistic and attainable, a little stretch is okay but a common mistake is setting goals too high, those types of goals are easy to ignore.

Relevant: Goals must be an important tool in the grand scheme of reaching your vision.

Time-bound: Goals must have starting points, ending points and fixed durations. Commitment to deadlines helps to focus your efforts on completion of the goal on or before the due date.

We’d love to hear why you set goals in the comments.

Additional resources for goal setting

Set Goals, WikiHow

SMART Goal Setting: A Surefire Way To Achieve Your Goals, Goal Setting Guide

 

What makes a successful entrepreneur?

Keeping with our Thursday tradition, earlier today we asked our micro business owners for their advice on a business issue. Given we’ve been discussing entrepreneurial issues, we wanted to find out what entrepreneurs thought made them a success, as in, what traits they found most beneficial. So for this week’s edition of Micro Business Tips Thursday, we asked the Vistaprint Facebook community: Do you consider yourself a successful entrepreneur? If yes, what traits would you say have helped guide your success?

While we received a handful of great responses, we were really drawn to Janet Zaras‘s answer. 

“Never stop moving forward. Appreciate what you have, but always keep looking for more. Keep learning new things to make your business better and never stop looking for more clients. Take care of the clients you have and treat them how you would like to be treated.”

Click here to see all of this week’s responses.

So what traits do you think makes you a strong entrepreneur? We’d love to keep the conversation going by hearing your answers below!

While we will be off next Thursday celebrating Thanksgiving with family and friends, be sure to check back in two weeks for your next chance to be featured on this blog.

How Does a Micro Business Owner Stay Happy?

In this week’s edition of Micro Business Tips Thursday, on the heels of our Small Business Happiness Index results being released earlier today, we wanted to get a better sense of how micro business owners stay happy. To help give us an idea, we asked our Facebook community the following question:  What is your one tip for staying happy as a small business?

Our index found that 77 percent of micro businesses remain happy, and the feedback we received from our great community of entrepreneurs certainly supported those findings. We recieved a ton of great tips, but Keiron Hubbard comments stuck out to us:

“Stay enthusiastic no matter what happens, you’ll have your good and ‘not so good’ times in business, just stay positive and NEVER get lax on customer service and satisfaction. Good customer service doesn’t cost anything but reaps great rewards morally, ethically and socially. REMEMBER word of mouth travels faster than anything. Make EVERY customer/client feel special.”

To see the rest of the feedback, please click here.

So what helps keep you happy with running your own small business? We’d love to hear what different entrepreneurs are doing to keep such a high rate of small business happiness! Please feel free to share your tips and feedback below in the comment section.

Be sure to tune into our Facebook page next week for your chance to be featured on this blog.

Behind the Scenes of a Micro Business: YouBar

From time to time, Micro Business Perspectives likes to highlight a micro business to get a better understanding of how they came to fruition. This entry comes from Anthony Flynn, owner of YouBar (www.YouBar.com), an online custom protein bar company. You may recognize Anthony from the newest Vistaprint television commercials running live now. 

The idea behind YouBar’s custom protein bars was hatched in 2006 on a chair lift at California’s Mountain High Ski Resort.  My mom, Ava Bise, and I were both snowboard instructors back then (my mom still is!), and we ate a lot of protein bars up on the slopes so we wouldn’t have to stop for lunch. One day, while we were riding the lift together to the top of the mountain, we started talking about how neither of us had found the perfect  protein bar — and we started discussing what that would be.

We discovered that our ideal protein bars were totally different. My mom wanted nutrition bars that weren’t too sweet with lots of protein to fuel her days teaching snowboarding and belly dancing. Meanwhile, when I got off the slopes, I did other athletics, like marathon-running, so I needed high-carb, lactose-free bars (I’m allergic). We both wanted fresher bars with far fewer preservatives than any of the bars we could find on the market. 

Just like today, back in 2006, there were seemingly a million different protein bars available at stores. But strangely, as the number of different types of mass-produced protein bars on store shelves increased, the number of commercial bars that my mom and I wanted to eat actually decreased.  We were both fed up with having to adjust what we ate to fit the bars on the market, and felt that food should be designed for people’s appetites — not the other way around.

So my mom and I took the bar by the horns (apologies for the cheesy pun!), and we began making our own protein bars at home. “It was as though we’d died and gone to heaven,” my mom used to say, “Except for the dishes we have to clean!” We finally had protein bars with the exact ingredients that we wanted — free from preservatives and high fructose corn syrup. And they tasted delicious too.

Once we started making our own protein bars we found out we were not alone in our frustration with the mass produced bars. Almost everyone we knew lit up at the possibility of creating custom protein bars tailored to their own tastes and dietary needs. Before we knew it, we were making bars for all of our friends and family.  And so YouBar was born.

In early 2007, YouBar set up shop in an 800-square-foot kitchen in Hollywood and sold bars through a simple website that was created by one of my best friends from college, Garett Wenig.  Then, In February 2008, we had our breakthrough as a company. YouBar was featured in The New York Times, National Public Radio’s Marketplace and Daily Candy — all in the same week! Overnight, YouBar went from a couple orders a day to hundreds.

YouBar expanded its product line to include custom protein shakes in 2008 and custom trail mix and cereal in 2009 — giving our customers full control over three more on-the-go foods.  This last summer, we moved to a new 8,000 square foot facility in Downtown Los Angeles.

Today, YouBar is still exploring new ways of empowering our customers to customize their lives. We now feature dozens of organic, gluten-free, high-protein and low-calorie ingredients, and we always listen to our customers suggestions. At YouBar, our customers aren’t just customers, they’re the creative spirit behind the whole company: the recipe designers. As my mom always told me: “You are what you eat, so choose!

Should Micro Businesses Get Involved with Political Campaigns?

In this week’s edition of Micro Business Tips Thursday, we wanted to find out if micro businesses were involved with campaigning for their local poticians with the elections about a month away. To help get some answers, we asked our Facebook community the following question:  How has your micro business supported a local political candidate?

Perhaps we caught some fans on a sunny Fall day, or maybe they were out campaigning, but needless to say we received our lowest turnout of responses in the history of Micro Business Tip Thursday. While our one submitted tip was helpful (thank you Beth Strickland for your comment “Providing assistance is placing Campaign signage on streets and residences.”) we’re left wondering… is showing support for a candidate a sound idea for your micro business? As we touched upon yesterday, demonstrating loyalty for one candidate can possibly hurt your micro business image with customers who do not share your viewpoint.  Of course if you are vocal with your beliefs, you may pick up a few potential customers who share your thoughts. 

So what do YOU think? Should entrepreneurs and micro business owners get involved in local politics, or simply keep their opinions quite during election season? We’d love to hear your feedback below in our comment section.

And as always, be sure to tune into our Facebook page next week for your chance to be featured on this blog.

Thinking about Expanding your Micro Business Offerings?

Almost every entrepreneur who creates a micro business feels confident jumping into business ownership because of their knowledge and passion for their specific trade. Those who like to cook strive to run a restaurant while those who are handy with tools may form a small construction company. No matter the product or service being provided, consumers know that if they are dealing with the owner of the business, chances are they are well-versed within that specific industry. That personal interaction is what allows small and micro businesses to outperform the larger competitors.

But what happens when your micro business enterprise is struggling to generate revenue? Or the local competition seems to have a stranglehold on your target consumer audience for one reason or another? What if a small group of dedicated customers suggest you start offering a new product or service that may not be 100 percent in your wheelhouse to help generate revenue? This situation of expanding a business’s offerings, in good times and bad, can be quite common with any entrepreneur. How they are handled can determine the long-term direction and success (or failure) of your business. 

To help you get a better idea if expanding your existing product/service is appropriate for you, keep these thoughts in mind:

  • Can I Do This Well?: Sure your business is focused on fixing automobiles, but you could probably learn “on the fly” how to fix small appliances. Is that the best option for your micro business? Whatever you decide to offer, you need to make sure you are fully committed to doing it at a high-level and with precision. You’d hate to have your company generate a poor reputation because you continuously falter on a piece of the business you’re not 100 percent comfortable offering.
  • Does This Expansion Fit My Business Plan?: As we’ve discussed in the past, business plans are important to the long-term success of your micro business. Part of your business plan should include an emergency plan should things not go as you planned. Does incorporating a new product or service into your business work with your emergency plan? While business plans can be a work in progress, you’ll want to research the long-term vision of your new offering and weave a plan with goals into your business plan before launching.
  • Expansion May Come Naturally: While running your micro business on a day to day basis, it may occur that you are expanding upon your business capabilities naturally. If your business is able to continue a high-level of performance within its core business, you shouldn’t shy away from expansion. Think of a small bakery that expands its offerings to take on small catering jobs.
  • It’s OK to Say No: While keeping your loyal customers happy should be a high priority along with attracting new leads, giving into each suggestion they make is not logical. If you don’t feel an expansion of your business is a good business move, don’t be afraid to communicate that to your customers. Your customers would rather hear the truth than you falter through the process while producing mediocre work for them.

Has your business experienced this situation of expanding your existing business offerings? How did you handle the situation and what did you ultimately decide to do? We’d love to hear your experiences below in the comment section.

Micro Business Success the Second Time Around

In this week’s edition of Micro Business Tips Thursday, we wanted to find out what serial entrepreneurs can learn from past failures. To help get some answers, we asked our Facebook community the following question: What is your one piece of advice for someone who has failed as a small/micro business and is looking to start a new business venture?”

As expected, we received a lot of great feedback including the obvious answer of learning from past experiences. However, we were drawn to this answer from Azelia Tummelson:

“What you did not succeed at in the past may not have been meant to be for you, and it’s possible that the opportunity you have now may be what you will succeed at now. If at first you don’t succeed, try try again.”

To see the rest of the feedback, click here.

Have you failed in a small business venture only to learn from your experience the second (or third, or fourth) time around? We’ve love to hear your feedback in the comment section below!

Be sure to tune into our Facebook page next week for your chance to be featured on this blog.

How Do You Protect Your Intellectual Property?

Intellectual property is defined exclusive rights granted to an owner of certain intangible assets ( such as musical, literary, and artistic works; discoveries and inventions; and words, phrases, symbols, and designs). Common types of intellectual property rights include copyrights, trademarks, patents, industrial design rights and trade secrets in some jurisdictions.

Recently we came across this great Quick Tip video from small business expert Melinda Emerson of SucceedAsYourOwnBoss.com around how a small business should go about protecting their intellectual property. Take a look:

Want more information on protecting your intellectual property? Check out this information from the U.S. Small Business Administration.

We’re curious to hear if your micro business has had an infringement upon its intellectual property, and what did you do to protect it?