Simple Mobile Banking App: Only for the Smallest Sole Proprietors

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• Simple Mobile Banking App: Only for the Smallest Sole Proprietors
• Raju Vegesna of Zoho: Integration Is The Future
• Why and How to Register Your Small Business
• Florida is Not Just Retirees and Tourists, But Innovative Startups
• Heart Monitor Sales: Makes Sense
• Amazon Introduces Kindle Paperwhite

Simple Mobile Banking App: Only for the Smallest Sole Proprietors Posted: 07 Sep 2012 02:30 PM PDT Small businesses are undergoing a revolution in how we handle and manage money.  Traditional banks are not going away anytime soon.  But we are in the midst of some long-term changes, and it’s a highly fragmented landscape today. New solutions keep popping up that are not banks or even products sold to us by banks — yet they get us paid faster and manage our finances.  PayPal; Square and other mobile credit card readers; online and mobile invoicing and accounting apps — these are all solutions that didn’t exist or (as in the case of PayPal) were just getting off the ground 10 years ago. With all the new solutions, we wondered if an unusual hybrid, called Simple, is a solution for small businesses. Simple Wants to Replace Your Bank Simple, which used to be known as BankSimple, touts itself as a replacement for a bank.  Simple is really a mobile app connected to some other pieces. In the FAQs it says: “Simple is not a bank. Simple replaces your bank. Your funds live in FDIC-insured accounts with our partner bank, The Bancorp Bank, and we provide everything else.” Simple is designed to pull together all your spending and income under one app, offering convenience.  For spending you get a Visa credit card.  You can arrange for direct deposit, and you get access to a national ATM network for cash transactions. Simple recently launched a new detailed reporting feature that lets users sort their data and then view charts and other visuals. The new feature aims to help users understand their spending habits in much more detail than most online banking sites, while cutting out the need for third party money-management apps like Mint.com and HelloWallet. Here’s an example of a Simple chart:   The reports give customers a glimpse at their banking trends over time, like how often they make deposits and how their money is spent. Users can also break down their banking actions into categories like business expenses, personal items, restaurants and food, etc. Simple – Mainly for Consumers and Not Small Businesses Simple looks interesting for consumers. But Simple is not a realistic solution for small businesses — unless you run a very small, one-person sole-proprietorship.   For instance, if you run a small crafting business with simple financial transactions — say, you accept money at craft shows for your products, and occasionally buy supplies with a credit card — it’s possible Simple could solve your banking and financial management needs. Simple also may be an easy way to track business income and expenses separately from personal in your bank account.   Best practice, though, is to avoid commingling business and personal in the first place (you definitely need separate accounts if your business is a partnership, LLC or a corporation). For most small businesses, Simple currently is not designed to meet your needs.   If you have employees or use a lot of outside contractors, or if you issue invoices, or if you make payments to a variety of sources, you need functions Simple doesn’t handle today.  Small businesses would still be faced with stitching together a hodgepodge of financial and accounting solutions.  That would defeat the purpose of using an all-in-one solution like Simple. Simple went live to the public earlier this year.   Simple is invite-only at the moment, but prospective users can add their name to the waitlist on Simple's website. Users must be U.S. residents aged 18 or over.  Simple is available only for iPhone. The post Simple Mobile Banking App: Only for the Smallest Sole Proprietors appeared first on Small Business News, Tips, Advice - Small Business Trends.

Raju Vegesna of Zoho: Integration Is The Future Posted: 07 Sep 2012 12:30 PM PDT Small business owners tend to wear many hats. One day it’s IT, the next day it’s sales, the next it’s accounting. Wouldn’t it be a breath of fresh air to have all of your information and data in one place, at your fingertips, and on the go? Tune in as Raju Vegesna, Chief Evangelist at Zoho, joins Brent Leary to share an integration solution that will keep you and your small business nimble, mobile and efficiently standing on it’s feet. * * * * * Small Business Trends: Can you tell  us a little bit about Zoho and what you do? Raju Vegesna: We offer a broad set of applications for small businesses so that small businesses can focus on running their business and not on IT.  We take away the pain of managing and maintaining the fast track. We offer online tools that businesses need to run their business. Small Business Trends: Can you talk about your approach to CRM for small business? Raju Vegesna: We believe the small business market has been ignored for a long time.  We have been focusing on it for a while. In fact, when we got started, we just wanted to create a system that met our own needs.  We ended up creating that and after, we started sending it to customers.  Our customers started loving it because it was perfect for their size. ZoHo was named after the target market, ZoHo the small office, home office market, and our products are also created for small businesses. Of course, customer needs are at the center of the business, so we started creating applications like CRM.  And then added complimentary applications for customer support.  We have more apps coming as well. Small Business Trends: What are the differences regarding CRM from a small business perspective versus an enterprise perspective? Raju Vegesna: Keeping things simple is extremely important.  You won't find lots of deep features. If you need more details it is always there and we try to provide all of the key modules that the business needs. Small businesses don't want to deal with lots of pieces of software.  They don't want to worry about integrating these pieces. We try to bring all of these pieces together. For example, when you go to customer information in the CRM system, we automatically show all of the emails you have exchanged with the customer.  We automatically show all of the events and documents you have with the customer. So we try to pull the information from other modules and display it, so that small business will not need to worry about integrating with systems when they can just use the CRM applications.  Then, all of the information is displayed contextually for the users. Small Business Trends: How have small businesses needs for CRM changed from when you guys first got started? Raju Vegesna: Customers first.  When we got started, many people were using the spreadsheet to manage all of the information.  We had occasionally seen that to. I think there has been a lot of education where people realize the importance of having a system like CRM.  We have seen interest coming from the businesses. They now come to us and say, “We want to send out mass mails to our customers, wishing them well for the Holiday season.” Or they want to see about adding an offer for the Holiday season.  That is one of the common questions we get. For such cases, they need an automated system, so they come to the CRM.  We also do things like import the customer data they have in their spreadsheet.  We can import them into the CRM system. But they can manage all of the information on the iPhone or tablet. Small Business Trends: How has mobility impacted small business CRM? Raju Vegesna: Mobility is extremely important.  We see some people maintain all of these invoices and customer information in Word documents or spreadsheets. With the iPhone and iPad, now people are just using applications to manage customer information. In fact, we have several customers who live on our CRM iPad application.  They don't even know a Web version exists behind the scenes.  They just sign up and just start using the iPad. Imagine if you're traveling and open up your CRM app on the iPad and it tells you where all of the prospects around you are. Things like that are powerful and mobility is going to be big when it comes to CRM. Small Business Trends: How has integration with certain pieces like email and other apps driven CRM usage at the small business level? Raju Vegesna: Integration actually is key. As you look at the current spend today, for every dollar small business will spend on obtaining software, they spend $7.80 on integration.  Which means they are spending more on integration than what they spend on software. We believe in integrating software, it should just work. Especially with something like CRM where you have customer information.  Wouldn't it be nice if you had additional details contextually visible?  Like if the customer made a payment recently or not?  Or maybe the support request from that particular customer? All of these are extremely important when integration is done the right way.  The application can be really powerful.  We are seeing that from the small business customers by allowing these integrations. Small Business Trends: What are some of the major changes you see for small businesses using CRM a year or two from now? Raju Vegesna: I expect something like tablets to be the primary device.  Those are going to be used more than computers or laptops. These mobile devices are going to be powered by cloud applications like ZoHo.  You will end up spending more time using applications like CRM on the mobile devices, on your phones, or your tablets, that are synchronized to the Cloud on the backend. Small Business Trends: Where can people learn more? Raju Vegesna: They can go to Zoho and sign up, it’s free. This interview is part of our One on One series of conversations with some of the most thought-provoking entrepreneurs, authors and experts in business today. This interview has been edited for publication. To hear audio of the full interview, click the right arrow on the gray player below. You can also see more interviews in our interview series. Whether you’re growing your business or starting a new venture, BlackBerry solutions provide you with the freedom you want and the control you need. 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Why and How to Register Your Small Business Posted: 07 Sep 2012 11:00 AM PDT Keeping an eye on the legal and regulatory requirements of simply being in business is a constant struggle for small business owners. One of the areas that creates the most confusion, particularly to new business owners, is the process of "business registration." What's required? There are many aspects to "business registration" – including incorporation, registering with tax authorities, registering a trade name and so on. However, not all businesses need to complete all these steps. Here's what you need to know: Registering a "Doing Business As" Name If you are starting out in business, or even if you are already established and incorporated and you want to name your business something other than your given name, you'll need to register for a "Doing Business As" name, also known as a DBA, trade name, or assumed name. When you form a business, its legal name always defaults to the name of the person or entity that owns the business, unless you choose to rename it and register it as a DBA name. For example, if Peter Smith sets up a landscaping business and rather than operate under his own name, he wants to call it "Smith's Landscaping Solutions," the name is considered an assumed name and will need to be registered with the appropriate local authorities. If you're not sure whether you need to register a DBA, check with your city or county government office. This will also be the place where you'll apply for registration. Not all states require you to register a DBA, but as a general rule, a DBA is needed in the following scenarios: Sole Proprietors or Partnerships: If you start a business under anything other than your real name, you'll need to register a DBA. Existing Corporations or LLCs: If your business is already set up and you are incorporated or an LLC but want to change your business name, you'll need to register it as a DBA. The other thing to note is that a DBA registration does not provide the benefits of trademark protection. For that you'll need to apply for a trademark with the U.S. Patent and Trademark Office. Incorporation Incorporation is another aspect of business registration that business owners need to consider.  Incorporation is a broad term that encompasses the variety of options you have when it comes to legally structuring your business – whether it's as a limited liability corporation, an "S" or "C" corporation, a partnership or a cooperative. Incorporation is not a legal requirement. In fact, over 70 percent of U.S. businesses are owned by sole proprietors and operate successfully without incorporating. You should consult a lawyer or legal expert to help you determine the pros and cons of incorporation for your business and how to register. Obtaining Licenses and Permits Registering for the right licenses and permits is a must for all businesses; even home-based business owners need a permit to operate legally. Contact your local government to understand the requirements in your town. Register with the IRS and Tax Authorities Property tax, sales tax, employment tax, state and federal income tax are just a few areas of taxation that require business owners to apply for the right permits and IDs and register with the right tax authorities. The main considerations are as follows: Get a Federal Tax ID – If you have employees or are structured as a partnership, corporation or other types of organization, you'll need to get an Employer Identification Number (EIN) from the IRS. Consider it the business equivalent of a social security number. You can apply for an EIN from the IRS online. Get State Tax IDs and Permits – You should also contact your state and local government to find out whether you need a sales tax permit (if you sell retail)and to understand your obligations for property, income and employment taxes.  What About Certifying Your Business as "Small?" If you own a small business, perhaps you've heard about small business certification. But do you actually need to certify your business as small? Most businesses don't need to do this. However, if you are interested in selling to the U.S. government then yes, you will need to. Why? The government sets aside contracts for small businesses. To qualify for these contracts, you must obtain certification that you are indeed a small business according to SBA sizing standards. Register Photo via Shutterstock The post Why and How to Register Your Small Business appeared first on Small Business News, Tips, Advice - Small Business Trends.

Florida is Not Just Retirees and Tourists, But Innovative Startups Posted: 07 Sep 2012 08:00 AM PDT It's exciting to watch the entrepreneurial landscape grow not only in Silicon Valley but also elsewhere throughout the United States. Florida is just one of many states with a healthy entrepreneur eco-system.  Florida's startup landscape is vibrant, diverse and worth taking a look at. Let’s review just some of the new concepts presented at a roundtable I co-hosted with the Jacksonville Startup Weekend in January 2012: For example, Armex Industries, Inc. makes the Armex Zero Suit.  Eric Keeler explained that the suit is a new kind of durable, special-purpose suit with significantly high heat and cold resistance. The suit is targeted at race car drivers, firefighters and military personnel. And then there’s Pay2Pitch.com, a network where entrepreneurs can pitch to investors and mentors and pay about $1,000 for a 20-minute interaction. Perry Kaye explained that the money being paid is given to the investor's or mentor's favorite charity. Not my favorite idea, but it represents a pain point:  entrepreneurs are desperately trying to reach investors. Tim LeMaster of Ziffor introduced us to a service for table restaurants that would like to offer promotions for non-peak times. I found Tim's idea compelling because several restaurants that have experimented with Groupon-like services have been inundated with unprofitable customers who arrive during peak hours. Rushabh Shah came forward with SustainAbin, an idea that assumes that at least 83 million people want to know how to practice a green lifestyle. Rushabh wants to create a portal that would harness this traffic and give those 83 million people meaningful content. As a result, he would be able to generate high value leads for local businesses, such as solar or organic farming, in the sustainability sector. The idea needs much fine tuning to actually turn into business. Finally, Vincent Langanella introduced us to Bthere, an idea for analyzing 911 data feeds to extract leads for glass repair, door and window repair and other crime related repairs for which consumers have an immediate need. I really liked this idea. Of course, Florida serves as a haven for more than just budding entrepreneurs. A few examples include Ginio.com, which is based in Miami. Ginio is a company that builds social applications that facilitate both ecommerce and online to offline commerce with the help of a vertical search system that allows users to find and compare products with friends and indulge in self-expression by creating shared wish lists. DisputeSuite, which is based in Tampa Bay, is a company that develops niche technology and education services to assist credit repair companies with the management and growth of their businesses. Then there's AppRiver, a Gulf Breeze based company that provides businesses of all sizes with a simple Web security solution that incorporates the latest available spam and virus protection, email encryption and Web security. That’s just a sampling of the many different companies that Florida's entrepreneur eco-system has produced. Two very successful companies that are a part of that rich eco system are Tampa Bay based Cableorganizer.com, one of the world's leading purveyors of cable and wire management-related products, and Middleburg based Pragmatic Works, a company that seeks to make technology easy to use and learn. According to Irina Patterson, a One Million by One Million ambassador (a program run by my organization) who is based in Florida herself, tech focused entrepreneurs in the Miami area can always find some kind of event to attend at least once every week: "Websites like miamitechevents.com will give you plenty events to choose from, and the people who run those events are passionate community builders. I, myself, used to regularly attend Refresh Miami, Social Media Club and Mobile Monday." Miami based Riyaad Seecharan, Founder of Ayumma: "While Beige Book data from July 2012 points to a subdued outlook for Florida, the Miami entrepreneurship scene is nascent but vibrant.  In particular, the region is focused on creating organizations and resources to support a culture of innovation. Academic institutions like Florida International University (FIU), Florida Atlantic University (FAU), and the University of Miami (UM) are either setting up incubators or developing co-working spaces and business plan contests, which are all aligned with creating value for the region.  FIU’s alliance with the Americas Venture Capital conference is providing access for local companies to investment dollars. The recent investment of Miami’s Downtown Development Agency into UM’s Launchpad and the Miami Innovation Fund both bode well for companies in the region. They offer access to smaller investments, but they also provide talent and networking support to help entrepreneurs get their ideas off the ground." Dan Stewart, founder of Safety Harbor, Florida based Happy Grasshopper, had spent years building a customer relationship management (CRM) product with less success than he desired. After investing hundreds of thousands of dollars and three years of his life, Dan found himself at an impasse and decided to put his project on the back burner. After he started working with our program, business improved and Happy Grasshopper is now a thriving business that's well on its way to earning $1 million in annual revenue. Momares, LLC is a Coral Gables, Florida based company that specializes in providing small and medium advertising businesses with a reliable SMS platform. Founder Marcos Menendez says: "Our mobile marketing company has taken part in various entrepreneurship competitions and been in touch with startups throughout South Florida. As members of the local community, we're happy to report that entrepreneurship is alive and very well in this region. Although small, the startup community has grown radically in the last few years and is fueled by various startup groups, as well as the creativity of local and international entrepreneurs." According to Marcos, most startups in South Florida are on a quest for investor funding. So, they pitch local angel investors and successful entrepreneurs who, if they're not able to invest, are still generous with advice through local startup groups.  Something else that Marcos thinks that may be fueling growth in South Florida involves collaboration with international talent: "There are many talented programmers, developers, engineers and others in Latin America who have ties to local businesses. It's not uncommon for these businesses to work closely with partners or colleagues who may have previously lived in Miami, but now contribute from other countries. This has allowed local startups to draw from a broader pool of talent. It has also kept them in touch with potential consumer markets and consumer behavior in other countries." Florida has good universities and a critical mass of success stories. The state needs to take these assets, and turn the region into a more comprehensive startup hub. Florida Photo via Shutterstock The post Florida is Not Just Retirees and Tourists, But Innovative Startups appeared first on Small Business News, Tips, Advice - Small Business Trends.

Heart Monitor Sales: Makes Sense Posted: 07 Sep 2012 05:00 AM PDT You never know when inspiration is going to strike, but you’d better be ready to wrestle it to the ground when it does. My wife and I were watching some TV and there was that classic close-up on the heart monitor. The beeping, the jagged line, we’ve all seen it a hundred times. But this time, I saw it and it looked like a sales graph to me. I made a joke to my wife about how this character’s heartbeat sales were all over the place and she laughed, so I knew I had something. A few days later this cartoon came out and, although I had to draw that graph five or six times to get it just right, it reminded me that, if you’re looking, there are jokes just about everywhere. The post Heart Monitor Sales: Makes Sense appeared first on Small Business News, Tips, Advice - Small Business Trends.

Amazon Introduces Kindle Paperwhite Posted: 07 Sep 2012 02:30 AM PDT Amazon’s announcement Thursday is the latest in the escalating development of tech tools with intriguing business applications. Check out our coverage of the announcement, plus a rundown of some of the other tools out there and a look at how you can keep up in the ever-changing realm of technology. New Tech Toys Best ever. Amazon is calling the Kindle Paperwhite the most advanced e-reader ever constructed. The new top of the line model lets you do far more than just read an e-book. Features include WiFi 3G Wireless for only $179. Lighter versions are also available for $69 and $119. Amazon.com Aiming at Apple. Though Amazon CEO Jeff Bezos didn’t mention one of his company’s arch rivals in the mobile device industry, it is clear that the Kindle Fire WiFi + 3G is aimed directly at Apple’s iPad. Though the two are not interchangeable, it’s clear the Kindle offers some features of interest to business users at a lower price. All Things Digital Hold the phone. However competitive the new Kindle Fire might be as a lower cost tablet, it is likely Apple will stay ahead in the smartphone market, helping businesses stay in touch with team members, customers, and suppliers with its iPhone 5 likely to ship before the end of the month. An analyst estimates Apple could sell as many as 10 million of this newest of iPhones in the first week. Forbes Better Business Tools Showing hospitality. When it comes to using technology to drive better customer experience and sales, almost any industry could benefit. Take visitorM, a service that helps businesses in the hospitality industry manage customer information and content, customizing the look and feel of their apps while taking care of ongoing mobile development and support. Tweak Your Biz Gaining user adoption. What can be said for customer relationship management software is true for almost any other technology you might use for your business. Gaining user adoption is the first and most important step. Without it, the best technology on the planet won’t do you any good. Resolv The best in tech. With all the tech out there to help your business, it can be tough at times to keep up with the latest trends. Fortunately, many business technology blogs exist to keep you in the know about the most helpful tools for your business. Here is a list of some of the cutting edge business blogs you might want to check out. BuyerZone Bring your own risk. The proliferation of devices has led many employees to prefer using their own tech instead of what is provided by employers. The trouble is, that doing company business on personal devices can lead to potential risks, especially when it comes to security issues and keeping your business data safe. Here are some tips to increase security with some simple BYOD policies. Noobpreneur The post Amazon Introduces Kindle Paperwhite appeared first on Small Business News, Tips, Advice - Small Business Trends.

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