Home Business Comes of Age
The scruffy haired, unshaven, pajama-clad home business worker is an iconic symbol of the past. Over a decade ago, with the Internet still in its infancy, home businesses based on scams and lowing paying data entry companies; not too many people took home business seriously. Small business magazines and experts featured tips on how you could be more professional by keeping the kids out and the marketplace even had audio recording of office chatter to play while you're on the phone to hide the fact you were at home.
Home business has come of age. According to findings by Emergent Research, Homepreneurs: A Vital Economic Force:
- There are about 6.6 million home businesses that generate at least 50% of the owner's household income
- Homepreneur businesses employ over 13 million people
- 35% of home businesses generate more than $125,000 in revenue; 8% more than $500,000
The small business landscape has changed dramatically with a host of low cost technologies (gMail, Skype, BaseCamp, etc.) and a wider acceptance of home business. The timing couldn't be more perfect for many recession strapped individuals looking for low cost ways to start and run a business.
Stevie Awards Finalists Announced

Finalists were announced today in the 6th Annual Stevie Awards for Women in Business, an international competition recognizing the accomplishments of outstanding women executives, business owners, and the organizations they run.
The Stevie Awards for Women in Business are produced by the creators of the prestigious American Business Awards. The Stevies are widely considered to be the world's premier business awards. This year I have the honor again to be on the Board of Distinguished Judges & Advisors.
The final results of the 6th annual competition will be announced at an awards dinner in New York City on Friday, November 13. More than 1,100 nominations were submitted this year for consideration in 54 categories by organizations in Australia, Canada, China, Germany, India, Japan, South Korea, New Zealand, South Africa, the United Kingdom, and the U.S.A.
Applying for an award is often overlooked as a form of marketing. Yet, business awards marketing can help your business get PR exposure, recognize the efforts of your staff and generate more revenue.
Generating Business with Slides
Business presentations are a normal part of generating business. One useful social media site centered around presentations is SlideShare. This is site allows business or individuals the opportunity to upload presentations, share comments and more. With over 23 million monthly visitors, the company has grown a vibrant community.
Now the company has launched SlideShare Business offering new services called LeadShare and AdShare. For small business, these offers provide a low cost way to generate leads or to have ads appear in a sponsored content box next to related slides. This new service seems like another way small business can use the Web to connect with their target market especially those selling to the business market.
Think Small Innovations to Get Big
Innovation is the corner stone of the American entrepreneurial engine. From Google to G.E., big breakthrough ideas have reshaped industries and fattened share holder wallets. Yet, this view of the big "home run" ideas misses the mark when it comes to the innovation game. For small business, small innovations trumps the big ideas.
Research published by Suku Bhaskaran in the Journal of Small Business Management, revealed the advantages of incremental innovation in the food service industry. In an industry owned by two large companies who made the move into new niche markets, the smaller businesses who applied small innovations had better performance and competitive advantages. What was discovered is thinking small is essential for businesses competing in tough markets against big companies. Quite simply, think small to get big.
The Small Business H1N1 Swine Flu Plan

This fall season has parents and schools on alert as they prepare for the arrival of flu season and the potential of the deadly H1N1 swine flu virus. For small business - the main driver of the economy - H1N1 preparedness is critical to survival. Image for a moment that 1/3 of your work force is absent. How will you cope? How will you deal with customers and the day-to-day operations? These are just a few of the critical questions businesses need to ask.
The SBA has released a useful guide, Planning for 2009 H1N1 Influenza to help small business get ready for any impact on their business. Tips include:
- Review leave, tele-work and employee compensation policies
- Determine essential employees and business functions
- Prepare a business continuity plan
Those business who plan now will be ready to adapt to whatever the outcome of the swine flu. Is your business H1N1 ready?
Coupon Crazy Consumers
Shoppers in this current economic climate are looking for bargains. The recession is driving coupon usage by droves with over 1.6 billion coupons redeemed in the first half of 2009. According to Todd Hale, Senior Vice President, Consumer and Shopping Insights for Nielsen, "“More consumers are looking for value and lower prices as retailers and manufacturers are distributing more coupons and making it easier for consumers to leverage technology to access coupons they want with less effort.”
The use of online coupon distribution has created opportunities for coupon promotional marketing and even spun off growth of online coupon sites. Coupon Cabin of Hoffman Estates, IL provides online shoppers with the coupon codes for discounts and deals. With revenue in the millions and a recent rank as an Inc. 500 fast growth company, Coupon Cabin is riding the few waves of opportunity in this economy.
Adding Power to PowerPoint Presentations
PowerPoint presentations have become a drab part of life in the business. The typical presentation is often unimaginative. Well, if you're short on ideas for a good presentation, visit Slide Share, a large community for sharing presentations. Here you'll find thousands of presentations by category, most downloaded and the latest - a source of inspiration for bringing your presentation to life.
Yet in the end, don't overdo the presentation design. One of the rules of PowerPoint presentations is to remember the software isn't a word document tool. You are the presenter not the software.
3 Powerful Ways to Get More Business
Getting more business these days is far from an easy method. However, the tried-and-true tactics of the past still apply in today's market. Here are 3 powerful means to boost your business:
Network, Network, Network: Whether you are networking face-to-face or through social media sites, your ability to form and build relationships is tantamount to your success. For the majority of small businesses, networking is a must-have in your arsenal of building business.
Use Low-Cost Marketing: Drive your business with low-cost marketing methods to reach your target market. Forget the glossy brochures and focus on strategic alliances, PR and other low cost forms of marketing.
Practice the Sales Fundamentals: In this current recession, you need to constantly re-visit your sales process and tactics. You can't afford to let your sales skills remain unchecked. Your business can overcome sales slumps by uncovering customer problems, building trust and closing the deal.
Strategic Thinking
Thinking strategically is a must have skill set for small business in the current climate. It involves the process of evaluating business information, developing strategies, monitoring results and continuously adjusting.
September is International Strategic Thinking Month --- a good time to review your business strategies. Regardless of your company size, take time to look outside the business. Apply strategic thinking this month to aid in evaluating your assumptions and non-productive tactics to drive your business to new levels. Learn more about the benefits of scenario planning and other strategic planning tools.
Business Lessons from the Shark Tank

The latest launch of a new reality show Shark Tank on ABC Sundays at 9 p.m. EDT/PDT offers entrepreneurs and business wannabes, the chance to get an inside glimpse at capital pitches. Based on the hit TV show Dragon's Den, aired in Canada, Britain, Japan and Australia, the show's producer Mark Burnett brings valuable lessons to those looking to raise cash for the aspiring business.
Guests come on the show pitching their business to "sharks" with a wealth of experience and loads of cash. The entrepreneurs looking for money have to offer a percentage of their company for a fixed amount while the "sharks" compete to be in or out of the deal. For anyone wishing to start a business or those in the thick of running a company, Shark Tank offers more than entertainment but an honest look at what drives the value in the invest.

