Working After Retirement: Should Grandpa Buy A Franchise? |  |
- Working After Retirement: Should Grandpa Buy A Franchise?
- NFIB Celebrating 70 Years Advocating for Small Businesses
- 5 Technological Breakthoughs Your Website Redesign Must Have
- HP Tablet Costs Less Than iPad And Includes A Keyboard
- Are Your B2B Proposals Working For You?
| Working After Retirement: Should Grandpa Buy A Franchise? Posted: 23 May 2013 04:00 PM PDT
It's a fair question. It's one that he's asking himself. So let's find out why. It's a Different WorldGrandpa (and/or grandma) may not be having the retirement experience that they thought they'd be having, especially if grandpa was the victim of a corporate downsizing a couple of years before he was supposed to retire. When grandpa started working, corporate ladder-climbing was the norm. He was led to believe that if he worked hard and made all the right moves, he' be able to work his way up the ladder. In a perfect world, Grandpa would end up in a much better (and higher) position at the company where he was employed by the time it came time to retire. And, not only did gramps expect to be making a salary that was in line with his experience and longevity at the company come retirement age, he was also counting on having a nice, fat, company pension to live on. You know what happened to pension plans, right? Another thing that's different is job longevity; it doesn't seem to be as important as it used to be. Today's HR departments almost expect to see short-term job histories among applicants. What used to be perceived as job-hopping is now looked upon as fast-tracking if done right. And, since grandpa wasn't a job-hopper, (he was a loyal employee with longevity) his resume is looked at in a not-too-positive light. Then there's his age. How many employers are enthusiastically hiring 60+ year-old men? (I know; it's illegal to turn away job applicants because of their age.) Working After Retirement: Retirement RealityIn 2005, CEO and Founder of Small Business Trends, Anita Campbell, wrote about the changing face of retirement:
In 2013, I'm pretty confident that a lot of the non-traditional retirements we're seeing have less to do with a want and more to do with a need. In other words, these people need to make money – even though they don't necessarily want to continue working. They're Starting BusinessesThe Kauffman Foundation, in its 2009 report titled, The Coming Entrepreneurship Boom, stated that the highest rate of entrepreneurial activity belonged to the 55-64 age group. The report goes on to state that the average age of technology company founders in the United States is a surprisingly high 39 with twice as many over age 50 as under age 25. But, they're not all starting technology companies. Some of them are buying franchises. The Franchise WayBuying into a proven business concept (which is what franchising offers) could be the way to go for those that have found themselves out of a job and close to retirement age. And, while franchise ownership has its risks, it has numerous advantages, too:
And, let's not forget speed. People that are nearing retirement age (who want to go into business for themselves) need to be able to open up their new businesses quickly. In most cases, new franchise owners can be up and running quickly. The ROI (Return on Investment) Time FrameI regularly provide personal guidance to prospective franchise owners who are 55+. While I'm quick to point out some of the advantages of franchising, I'm also very comfortable providing information on the possible downsides of franchise ownership – especially for those that need to get some income going fairly quickly. I've been saying for years that "franchise ownership isn't for everybody." One of the reasons that becoming the owner of a franchise business isn't always the right thing for people has to do with the money. In this case, I'm not referring to the up-front investment. Instead, I'm referring to the return on investment (ROI). If grandpa invests in a start-up franchise, one that will be a brand-new location for the franchisor, it's going to take a while to get to break-even. Probably a year. Maybe even more depending on the type of franchise it is. If grandpa needs to collect a decent paycheck early on, he's going to rapidly become frustrated if he chooses to buy a franchise – it's probably not going to happen. It's not that franchising is bad and that it "takes too long to make money." It's just math. All startups (franchise or non-franchise) need to have revenue. At first, that revenue needs to pay for things like marketing, inventory, payroll, etc. Eventually, there will be enough revenue coming in to pay for business expenses. That's when a little bit of profit starts to creep in. It just takes a while. For people who aren't quite ready or that can't realistically retire when they planned to, buying a franchise is one option that may warrant their investigation as long as they're realistic when it comes to earning a paycheck from their new business right out of the gate. Did you buy a franchise at a late-age? Are you thinking of doing so? What do you think – should grandpa buy a franchise? Senior Citizen Photo via Shutterstock The post Working After Retirement: Should Grandpa Buy A Franchise? appeared first on Small Business Trends. |
| NFIB Celebrating 70 Years Advocating for Small Businesses Posted: 23 May 2013 01:30 PM PDT
The National Federation of Independent Businesses (NFIB) is celebrating a milestone this year, marking 70 years of advocating for small business owners. While the nature of its job has changed somewhat in those 70 years, NFIB continues to advocate for small business owners nationwide. “Seventy years ago, the National Federation of Independent Business began its mission to protect the right to own, operate and grow a business,” NFIB President and CEO Dan Danner said in a recent statement. “Since then, NFIB has garnered more members — and earned more credibility — than any other small-business group in history.” NFIB was founded in 1943 by C. Wilson Harder. Harder saw a need for soldiers returning home from World War II to find jobs at small businesses. While they were “over there” many of the small businesses over here were being consumed by the war effort and big business blossomed. At the same time, the federal government began catering more to the needs of big business, so Harder left his job at the U..S. Chamber of Commerce to start NFIB. There are more than 350,000 NFIB members and nearly 90 percent of them employ fewer than 20 people. Today, the “war machine” isn’t impeding small business owners, but there have been three items that have made it more difficult for small business owners to survive over the last 30 years. Cynthia Magnuson of NFIB said in an email to Small Business Trends that members of the group have identified health insurance costs, taxes and regulations as the main factors making it more difficult to operate a small business. “In spite of our nation's present struggles, we at NFIB continue to work to make America's entrepreneurs heard in Washington and across the country,” Danner said. “As the engine of the U.S. economy, small-business owners epitomize the American Dream in every way. We are very fortunate to have such a robust membership that continues to inspire and influence the next generation of entrepreneurs.” The post NFIB Celebrating 70 Years Advocating for Small Businesses appeared first on Small Business Trends. |
| 5 Technological Breakthoughs Your Website Redesign Must Have Posted: 23 May 2013 11:00 AM PDT
Advancement in design and programming technology makes for a perfect storm: Now is the best time to redo your website. Technology breakthroughs are constant, but design breakthroughs – what's that all about? Comedian Louis CK does a bit about how your stomach takes 20 minutes to tell your head that it's full. He says you can stub your toe and your head knows right away how much it hurts, but why does it take 20 minutes for your stomach to communicate? Well, embracing and using new technology to its fullest is a bit like communicating with your stomach: It takes time. It's been 23 years since Tim Berners-Lee launched the first website and we finally have the tools for designing a website that really focuses on the user. Yet it's not only about the user, it's also about the owner of the website and what the owner has to offer the user. It's about a relationship between user and content holder. And like any relationship, it's hard work. Connect Your Content to Your Audience Make your content relevant to your target audience. The whole world may be able to get to your website, but the whole world is not your audience. Identify who your key audience is and provide content that best serves your audience while addressing the issues, offers and themes that you want to express. Most users come to your website for three primary reasons:
Does your content and website design address the three main reasons people visit websites? You Are Here When you stand in front of a map and read, "You Are Here," have you ever wondered, as Steve Martin once asked, "How did it know I'd be here?" When performing a website redesign, you need to know where the users are and you have to make it easy for them to get anywhere fast. Before you select the images and determine what design looks better, you need to analyze these 3 areas of your website:
Here's where design and tech meet in a perfect storm. Never before has it been easier to learn how users use your website, and to have the ability to design a website that meets your target audience. 5 Tech Breakthoughs Your Website Redesign Must Have1. AnalyticsWho is visiting your website? How long do they stay? And once they arrive, where do they go? The amount of information available through free services like Google Analytics is astounding. Web developer and online marketing expert, Kurt Edelbrock, says Google Analytics will help you, "understand your audience and your website in ways that your competitors on the Web often won't." You can now track users, see what pages are popular and use this information to guide your website redesign. 2. Responsive DesignResponsive web design offers you the best quality browsing experience with easy reading and navigation minimizing the need for resizing, panning and scrolling. A website design with responsive architecture displays itself effectively on desktop browsers, tablets and mobile devices. "Given the rapid adoption of tablets and smartphones — and the fact that users currently seem to prefer reading their news on the mobile Web rather than in apps — I think it’s inevitable that 2013 will be the year that responsive design takes off," says Peter Cashmore, CEO of Mashable. 3. Content Management Systems (CMS)CMS offers you a way to organize your content and post new and updated content. With WordPress and other open source CMS platforms, you can have sophisticated tools at your fingertips that are essential and affordable. When you manage your content better, you can repurpose it on multiple platforms. 4. MobileDid you know that 85% of mobile users expect the mobile version of your website to be as good or better than the desktop view? "A mobile device is the Internet for many people," says Susannah Fox from the Pew Research Center. You can't ignore the fastest growing audience online. Karen McGrane makes a great argument in Content Strategy for Mobile, "mobile can be a catalyst to make your entire publishing process more efficient and more effective." We should use mobile as the filter for rethinking all of our content. Mobile websites must be simpler, easier to click, better written and designed to work for the person on-the-go in a much smaller space. How about applying that to your desktop design as well? 5. Social MediaPeople have a better understanding about what works on blogs, Facebook and Twitter. It's not just about posting and reposting, but using content that effectively promotes your company, products or services. You can combine your business Facebook page with plugins that share content or simply add quick links and "Like" buttons to attract audiences back and forth between your website and your Facebook page. For your audience to think of you as professional, your communication strategy must embrace multiple platforms and display messaging and visual marketing in a consistent manner. Today is a great time to rethink and repurpose your website so that it is on target with your business goals, meets your audience needs and utilizes the best that technology has to offer. Breakthrough Photo via Shutterstock The post 5 Technological Breakthoughs Your Website Redesign Must Have appeared first on Small Business Trends. |
| HP Tablet Costs Less Than iPad And Includes A Keyboard Posted: 23 May 2013 08:00 AM PDT
[Slatebook X2] Hewlett-Packard is introducing a new HP Android tablet hybrid, the SlateBook x2, that’s aiming to rival the popular iPad. HP is pricing its entry into the hybrid tablet market at $20 less than the cost of iPad. But the SlateBook x2 also comes standard with a keyboard. The HP Android tablet features a 10.2-inch screen. There is one USB port, an HDMI port, and an SD card slot, according to an early review from LaptopMag.com. Striking While the Iron is Hot? The introduction of the SlateBook x2 comes during recent good times at HP. After suffering internal struggles and slower sales, HP’s second-quarter sales were much higher than expected. That announcement on Wednesday sent stock prices 13 percent higher in after-hours trading, according to The New York Times. Sales of the company’s notebooks were still slow, according to its earnings reports. The SlateBook x2 could be a way to make a big splash in the mobile device market and possibly snag potential iPad customers by offering its versatile device at an economical price. SlateBook x2 is retailing for $479, a price that should entice budget-conscious customers to at least consider it. Keeping Up With the Joneses … Almost HP has realized what others have in the tablet market: the need for versatility. Competitors are also introducing tablet and desktop/laptop combos. The keyboard has become an essential peripheral for tablet owners. As convenient as it is to have a touchscreen, jobs that require extensive data entry, for example, are just not a fit for a touchscreen alone. The keyboard essentially turns a tablet into a laptop. This should make the SlateBook x2 more versatile as a viable business machine. LaptopMag.com reports that they got 14 hours of juice from the batteries in the tablet and keyboard (each has one), meaning you can get more business done without worrying about a recharge. One drawback: the 2MP camera mounted on the back of the tablet is not exactly the best means to capture digital media, like shooting photos of your products or even sharing quick snapshots on social media. The review noted photos were grainy in good lighting. The SlateBook X2 is expected to be available by July.
Corrected: a previous version of this article erroneously referred to the iPad2 instead of the most current iPad model. The post HP Tablet Costs Less Than iPad And Includes A Keyboard appeared first on Small Business Trends. |
| Are Your B2B Proposals Working For You? Posted: 23 May 2013 05:00 AM PDT
There are people who will tell you that you should never, ever write business proposals. Proposals take a lot of time, the argument goes. There's a lot of work involved. The very act of putting together strong business proposals draws heavily on your expertise and insight. You're making an investment when you create a proposal – and if the client doesn't close the deal with you, it's an investment that returns nothing. There are people who agree with the never write a proposal position, who are simultaneously very aware that in order for their business to function on a daily basis, they need to write proposals. That's the way the world works, and so they go through the motions, lining up the necessary fact sheets and price points in the routine fashion and sending them off in the hopes they get the sale. And then there are people who see business to business proposals for what they really are – a powerful marketing tool that can be used to gain a significant advantage over the competition. Which group do you belong to? Business ProposalsThe Underappreciated Sales ToolWhile preparing this article, I reviewed the last 200 business proposals my company generated. Not every one of these proposals was ultimately successful, of course, but they all had one trait in common: They got our team in the door for further meetings, deeper into the sales process with the prospective client. We wondered what it was about these business proposals that made customers open the door enough to say, "We're willing to explore working with you." Below are the key ingredients that appeared in every proposal. Overview of Potential ProjectEach proposal begins with an outline of the goals and intended outcomes of the project are. This step is absolutely essential. You're convincing the client that your company is focused on solving their problems. To be convincing, you need to speak the same language that your client speaks. Every industry and profession has its own language, composed of jargon, acronyms and shorthand terms. The more fluent you are in your potential client's language, the easier it becomes for that client to feel like you understand them. Quick Review & Initial RecommendationsIn the next section of the proposal, you have an opportunity to demonstrate your insight and judgment. Remember to think like your customer. No matter what industry you're in, you want to do business with partners who are perceptive and smart. Use this section to provide your assessment of your customer's situation, including any items that may be of concern. This is also the point to provide a few surface level recommendations for your customer to consider. You don't have to provide the solutions to your customer's problems in the proposal, but you do have to provide your customers with the confidence that you're capable of solving the problem. A business proposal is an invitation to start a new relationship. In this section, you're demonstrating to your prospect what value they may find in the relationship with you. By giving feedback you're demonstrating to your potential client your style of communication and your level of intellectual investment in their business. Assumptions and ProcessAfter proving to your customers the value to be found in beginning a relationship with you, the next step is to explain what the experience of working together will be like. Not everyone has the same background and not everyone has worked on the same projects in the same way. I find it a helpful to share a list of assumptions about how we like to work and what we expect of our client. This step can often help clients determine very rapidly if they'll be happy working with you. Marketing to your customer's means educating and informing your audience. Depending on your industry, a customer may not realize what's involved in a potential job. Giving your potential client a way to understand what you do and the process you follow illustrates how you value your time and their time. Clear Pricing BreakdownMoney matters. You have a budget that guides your business decision making process. So do your customers. We've found that the clear, easy to understand pricing information is highly valued by potential clients. Don't be afraid to be detailed. Break down the costs in a clear way with supporting details for each line item. Customers want to know what they're paying for. Having support for every number in your proposal demonstrates an awareness of your client's business needs. Pride in Your Work & Team Go ahead and toot your own horn a bit. This is a sales pitch, after all. Let your potential client know why you're the best choice for them. Be specific, and relate your experience to your potential client's needs. Add case studies or images of successful projects. List your team members and their involvement. Tie everything together for your potential client to see you value your team as much as you value their business. Make it PrettyNever, ever forget that business proposals are a sales tool. Presentation really does matter. A well-designed proposal is a demonstration to your customer that you value them highly – that you want to get their attention, their respect and yes, ultimately, their business. Taking the time to make sure your proposals are well organized. Ensure that everything is easy to read and understand. Use color, font, images and layout to make the process of reading the proposal as engaging and enjoyable as possible. Whether you service business is accounting or design people want to feel they matter and good design is a great way to provide that feeling. It's Time To StopStop looking at your business proposals as a waste of time or a necessary evil. Start looking at your business proposals as powerful marketing tools you can use to start profitable, long-lasting relationships. It's an investment that will reap rich rewards. Waiting with Proposal Photo via Shutterstock The post Are Your B2B Proposals Working For You? appeared first on Small Business Trends. |
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