Square Acquires Product Design Firm, First NYC Location |  |
- Square Acquires Product Design Firm, First NYC Location
- Lending To Small Businesses Jumped In September
- Whose Way: Yours or Theirs
- How to Leverage Big Brands for Your Small Business
- Ebay Launches Redesign, Adds Pinteresty Flourish
| Square Acquires Product Design Firm, First NYC Location Posted: 11 Oct 2012 01:00 PM PDT Mobile payment company Square just announced its acquisition of NYC design firm 80/20, bringing an experienced in-house design team to the company that has already made some huge strides in making mobile payments more common for everyday consumers.
The team at 80/20, which specializes in helping companies build more user-friendly products, has had a hand in the creation of products such as cloud based media library Warner Bros. Digital Everywhere, fitness device Motorola Motoactv, and 3D virtual world Second Life. The company has three co-founders, all of whom have previously worked for big names such as Apple and Adobe. In a statement on 80/20's official website, the company described its methods as simplistic, saying:
80/20 also stated that focusing its energy on one company seemed like the natural next step for them. So what could this move mean for Square and those that use the service? It is likely a sign that the company has some plans for new features or changes, and that they want to maintain a simplistic yet innovative design for their products and offerings. The mobile payment carrier already places a lot of emphasis on innovative features and simple aesthetic, so the acquisition of such a design company doesn't seem to be a huge surprise to many in the tech world. Though no official product changes have been announced for Square just yet, having such a design team could lead to more user friendly products or features for companies that process mobile payments. Of course, Square has already announced some major changes this year like its partnership with Starbucks and its simple monthly pricing structure. In addition to the potential for growth this type of acquisition might allow, the most immediate change for Square is that the San Francisco based company is gaining its first New York location, 80/20's headquarters in SoHo. 80/20's final comment in its announcement of the acquisition:
The post Square Acquires Product Design Firm, First NYC Location appeared first on Small Business Trends. |
| Lending To Small Businesses Jumped In September Posted: 11 Oct 2012 11:00 AM PDT Big banks are back in small business lending. During a month in which the overall volume of loan applications increased by 5.6%, the Biz2Credit Small Business Lending Index revealed that approval rates jumped 30% at big banks during in September 2012.
The Index found that 14.2%.of funding requests were approved by big banks ($10B+ in assets) in September — a 30% jump from 10.9% in August 2012. The figure represents the highest approval rating percentage for big banks since the Index began in 2011. Lenders including Citibank, Sovereign and Citizens Bank are jumping head-first back into small business lending. The economy seems to be improving slowly, and the improvement has been a factor in their willingness to lend to small businesses. This is a good sign for the economy. Combined with surprisingly good September jobs report, the positive economic news comes just as President Obama tries to recover from his poor debate performance against Mitt Romney. Meanwhile, small bank lending approvals dipped slightly from 47.8% in August to 47.6% in September. The loan approval rate of credit unions dropped for a fourth consecutive month in September down to 52.4% from 52.9% in August. The September figure represented the lowest credit union approval rate since June 2011. Alternative lenders – accounts receivable financers, merchant cash advance lenders, Community Development Financial Institutions (CDFI), micro lenders, and others – continue to make an impact on small business lending. In September, alternative lenders approval rates rose slightly to 64.6%, up from 64.5% in August. The 64.6% approval rate was the highest recorded since the Index began. Alternative lenders offer greater flexibility, quicker approvals, and competitive lending rates than they ever have before. This type of financing is very helpful for small and mid-size businesses that encounter short-term cash flow issues. Restaurants and retailers, in particular, find this type of financing attractive as they look to the fourth quarter to be profitable than other parts of the year. Many businesses are seeking short-term working capital to prepare for the upcoming holiday season. Lending Up Photo via Shutterstock The post Lending To Small Businesses Jumped In September appeared first on Small Business Trends. |
| Posted: 11 Oct 2012 08:00 AM PDT Sometimes as small business owners, the desire to do it your way can drown out your customers' voices. Even though many of us went into business to spread our wings, to live out that phrase made famous by Frank Sinatra, “I did it my way,” and to make a ton of money at the same time. Bottom line — your customers get a vote.
You Can’t Sell What People Aren’t Buying Even if you create something that has never been seen before, it has to meet a need or the money just won't follow. In fact, your product or service has to meet a desire that your clients are willing to pay for. The only way to know for sure is to watch their spending and behavior. If you're launching something new, then pay attention to spending on products or services similar or closely related to the product or service that you plan to sell. Get Back To Some Hands On Research Get in front of your people again. Interact with them, watch their spending, become like them and see what you learn. Yes, you want to collect the statistics. For example, you want to know how much money is made on Mondays verses Saturdays so that you know which days to close or how to target your marketing to get people through the door on those days. But you also want to know what it feels like to be your client. One way to do that is to walk in their shoes. Shop in your own store. Use your own services. If you feel like you know too much to be objective, then send a mystery shopper in. The goal is to shift your perspective from the boss in the building to the visitor. When you're a part of the audience you'll discover some things. Is Your Language Clear And Easy To Understand? I just received a two page promotion from a company. After reading every word, including the colorful insert, I can honestly say that I have no idea who they are and what they have. But I did read a lot of:
And
As well as
Reviewing your marketing materials from the perspective of your audience makes it easier to find the gaps between what you know and what your potential new customers need to know. Here's an example of getting it right. SlideDeck tells you at the top of their Web page that they're "for WordPress." And if you find them through the search engines (Google, Yahoo) you see in the title of the page that SlideDeck is a "Wordpress Slider & Gallery Plugin." So if you're not using WordPress as your content management system, then SlideDeck isn't for you. Is Your Product As Smart As It Could Be? It's about being effective and progressive. The more you use your own stuff, the more you'll discover the weaknesses. And innovation is driven by problem solving. But you can't solve the problems that you don't see. At the days end, your potential clients are looking for answers. Being a savvy small business owner is about making it our job in our respective industries to find those answers, discover their new questions and offer the best solutions we know how to answer — over and over again. Questions Photo via Shutterstock The post Whose Way: Yours or Theirs appeared first on Small Business Trends. |
| How to Leverage Big Brands for Your Small Business Posted: 11 Oct 2012 05:00 AM PDT No man is an island, and no small business is either. As small business owners, we know that success requires reaching out to others. You can't do it all on your own. At least… you can't do it all on your own and be anywhere near sane by the end of the quarter.
When I say "reaching out to others," I don't just mean networking. What I'm really referring to is leveraging the big brands and power players in your industry through your company blog. By leveraging these brands, you'll be able to boost your own reputation and solidify those leads you're already working on. A few pointers: When You Talk the Talk, You Will Walk the WalkWhen your blog audience sees you cover well-known, credible businesses, they automatically begin to view you in the same light. Check out how the Matchstic blog weighs in with opinions on what's happening in the world of big business branding. They're a mid-size branding agency, but they regularly associate themselves with big brands through their blogs. Case in point: this recent post on Arby’s. Talk the big brand talk, and your readers will naturally assume you walk the big brand walk. Turn An Enormous Marketing Concept into a Bite Sized PointBig brands make great examples in your blog posts. Because these brands are already well known, you don't have to waste your words trying to convince readers that your point is legitimate. In the previous example, Matchstic doesn't have to waste time talking about the Arby's company by explaining what they do and where they came from. Everyone already knows Arby's is a legitimate business. It's easy for the blogger to jump right in to the meat of the story (no pun intended), and create a bite-sized takeaway. Okay, that pun was intentional. Get Ready for the Re-TweetsBig brands will help your small business blog get more social media attention. Which blog post is likely to get more shares?
or
The second title, of course. I don't know who you are; I know who Target is. That's the blog post I'm going to read, and it's the post I'm going to share. However, spammers and spam robots think the same way. So, when you do share an article that drops big brand names, prepare for the fake Twitter followers and spammy comments. It's not a big deal, but you should be aware. Of course, you might even make contact with the company you mention. If you wrote a blog post about Target, you would definitely want to include an @Target when you tweet the article. Don't Be General. Get Specific.This is always a good rule of thumb for blogging. However, it's especially important when you're talking about big businesses. Because you're writing about a company that has tons of available information and examples, you have no excuse for not using it. If you need the nitty-gritty financial info for your blog post/case study, head over to the U.S. Securities and Exchange Commission where EDGAR will become your friend. The more details you have, the stronger your content will be. Don't Take Competition Too SeriouslyI know, I know, it's business. But, really… don't go out of your way to avoid mentioning a big brand or competitor if they have some content that can help you boost your own company's reputation. So, you sell jewelry and Tiffany's sells jewelry? Everyone in the world knows about Tiffany's. Not many people know about you. By linking to a Tiffany's product page or some valuable piece of content the company's written, you aren't hurting yourself. If anything, you're demonstrating to your readers that you care about providing valuable information more than anything else. If You Can't Say Something Nice…Don't say anything at all. There's nothing wrong with blogging about what not to do. However, try to avoid picking out a specific company as your example. You never know what big brand competitor might be interested in buying your company in a couple of years. Even if you have no plans of selling, picking on another company: (a) Looks bad. (b) Could come back to bite you. There's no telling what kind of distribution your post could end up getting. How do you leverage big brands in your small business blog? Internet Chatter Photo via Shutterstock The post How to Leverage Big Brands for Your Small Business appeared first on Small Business Trends. |
| Ebay Launches Redesign, Adds Pinteresty Flourish Posted: 11 Oct 2012 02:30 AM PDT Ebay, one of the sites that truly put e-commerce on the map, has announced a redesign including features borrowed from one of the hottest new social sites of the last few years,Pinterest. In our roundup, we look at the latest news in the e-commerce world, then focus in on how small businesses are using e-commerce today. Grand ReopeningRenovating the storefront. After years as an industry leader and a recent renaissance with new features and an expanded business model, eBay is now completely remaking itself in the recognizable image of a certain distinct, new social media star. Yes, don’t be surprised if you find some of eBay’s latest changes a bit Pinteresque. The Next Web Pinterest for sales. Forget the eBay redesign for a moment. Even without the online auction and e-commerce giant’s latest transformation to look more like Pinterest, the unique new social site has been boosting the efforts of online entrepreneurs all on its own. Here are seven ways Pinterest can improve online sales for your business. Wishpond Marketing MojoE-commerce game-changers. If you’re already running an e-commerce business, or just starting an e-commerce component to your existing operation, you will want to check out four sites that are changing the industry. From bringing in customers to setting up your online store, Christopher Wallace, vice president of sales and marketing for Amsterdam Printing, introduces sites that offer an amazing array of possibilities. Get Busy Media Marketing your storefront. Building your e-commerce site is only part of the job, writes blogger and business owner Ryan Franklin. It’s also critical to attract paying customers and to keep them coming back for more. To accomplish, this, Franklin says, you will need more than just products. You will need valuable information that makes your Website a destination point. UPrinting Window DressingThe lure of layaway. Layaway is popular again due to the Great Recession and its crippling impact on consumer credit. What’s more, brick and mortar stores like Sears and Kmart aren’t the only businesses rolling out this pay by the month option to serve their customers, says business writer Rieva Lesonsky. E-commerce businesses are also getting involved. Network Solutions Making converts. As we mentioned earlier, marketing your e-commerce site requires more than just a storefront. It requires compelling content that encourages customers to buy and come back for more. If you’re wondering about the kind of verbiage that turns visitors into buyers, blogger Tom Ewer has some insight to share. MyWifeQuitHerJob EndgameLast but not least. Another social media giant is expected to wade into the market soon, boosting the growth of e-commerce tremendously. We’re talking about the anticipated launch of Facebook’s new “Gifts” feature, coming soon. The feature will enable friends to buy and send each other gifts, but will also offer the opportunity for businesses to add products to the list of items for purchase. Forbes The post Ebay Launches Redesign, Adds Pinteresty Flourish appeared first on Small Business Trends. |
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