The Importance of Keeping a Global Perspective |  |
- The Importance of Keeping a Global Perspective
- Spreecast: One on One Video Chats Right in Your Web Browser
- Over 50, Female and Starting a Business: 6 Essentials to Consider
- Skillfeed: Video Tutorials to Make Your Web Presence More Visual
- 11 Important Factors to Consider Before You Buy a Franchise
- CorpNet Adds Free Meeting Minutes and Corporate Document Templates
| The Importance of Keeping a Global Perspective Posted: 09 Jul 2013 04:00 PM PDT
When David Cornejo Chinguel, founder and chairman of Juan Mejia Baca, decided to start a new system of schools in Chiclayo, Peru, he knew he wanted them to be different. David had traveled outside of Peru before to Europe and other South American countries. He wanted to bring the best ideas from these places back with him and implement the good bits all in one place:
About a month ago I decided to leave my comfortable job and home in the U.S. and move to Chiclayo, Peru, to work for the summer. This is where I met David, in the 4th largest city in Peru, creating a school that serves the two lowest economic classes in the city. In the month that I have been here, I've already learned so much about working internationally, the clashing of cultures and how globalization is real. As a journalist and as someone who has worked with small businesses previously, I've seen how important it is to keep a global perspective, and David gets it too:
Working internationally, whether in another country or from the US, can be a challenge. There are cultural differences as well as different systems and ways of doing things that we are often not aware of. If we want our businesses to grow, we need to understand that going into new markets will require patience and the understanding that we will have to adapt. A global perspective means being open to new ideas, issues and solutions. Often times, it even means being open to changing the way you do things if you find a new system that works better. It means being culturally sensitive and willing to learn from others. By having a global perspective you will be able to learn from others and you will open your business up for new opportunities. You will be able to grow in ways that others cannot because they don't understand this concept and you will enter new markets. David Cornejo Chinguel has a global perspective. His forward thinking ideas and openness is allowing him to form partnerships with people and other universities in Chile, Germany and just recently the U.S. This is a huge success for a university that has only been around for 5 years in a developing country.
Business schools in the U.S. are also recognizing the importance of teaching their MBA students about the global perspective. Sunil Chopra, interim dean and IBM Professor of Operations Management and Information Systems at the Kellogg School of Management said:
A global perspective will help you learn from others and find new ideas to grow your business. Globalization is bringing the world together and it's happening quickly. Be open, be adaptable – and you will see new opportunities knocking on your door. Global Business Photo via Shutterstock The post The Importance of Keeping a Global Perspective appeared first on Small Business Trends. |
| Spreecast: One on One Video Chats Right in Your Web Browser Posted: 09 Jul 2013 01:30 PM PDT
A new video chat platform allows you to create one on one video chats, video conferences or large scale webinars for free – and potentially profit from them too. Spreecast, now in its beta launch, isn’t just some Skype, Google Hangout or GoToMeeting knockoff. It is a very different tool operating without the need for anything but an email account to sign in. “Spreecast is a social video platform,” said company CEO Jeff Fluhr in an exclusive conversation with Small Business Trends. “It’s not like Skype or iChat where you actually have to install software on your machine. It works right in a web browser.” Not Like Google HangoutsUnlike Google Hangouts, Spreecast is platform agnostic. This means you don’t need to be signed into a social network to participate or create a Spreecast and you aren’t limited to inviting only those with a Google or other social account to participate. (Though you can sign in using your Facebook or Twitter account, if you like.) Spreecast also offers an unprecedented set of tools to control the conversation and at the same time more interaction for the audience than is possible with the audience watching a Google Hangout through a viewer window, Fluhr added. Spreecast also differs from other similar services. Unlike Skype, which essentially offers a video phone call service between two or more participants, Spreecast opens the potential for a large scale public forum conversation. Unlike GoToMeeting and other paid video conferencing services, Spreecast offers a free platform to hold private business meetings. Creators of a Spreecast can decide how they wish to use the site by choosing between several simple privacy settings to decide who has access. Up to four people can participate on camera at once, but many more can watch and participate via social chat tools. “Tens of thousands of people can join a live Spreecast in sort of the audience if you will,” Fluhr explained. “And any one of the people in the audience can actually request to join on camera as well.” To manage all this, the site gives webinar or video conference creators, or “producers” as they are called, the online controls to assign who will participate on screen. Producers can also preview and vet members of the audience who wish to be placed on camera. Other Spreecast FeaturesBut that’s not all. Producers and those they designate as co-producers can also share external media such as comments or questions entered by members of the audience, photos from Flickr, Instagram or Facebook, videos from YouTube or Vimeo and even slide decks from SlideShare. “It’s a fairly robust set of producer controls that you get when you’re a producer or a moderator of a Spreecast,” Fluhr said. Producers or members of the audience can use the chat section to the right of the screen to pose questions to other participants or make comments about the on-camera conversation. A screen queue section beneath the screen allows producers, participants or audience members to post comments or external media they would like shared onscreen. Spreecast producers and co-producers decide what to share. If you would like to charge for access to your Spreecast, in the case of a webinar for example, a pay per view feature collects money on behalf of the producer. Those fees are split 30/70 with the majority share going to you and rest going to Spreecast. (Again, it’s important to remember here that it is free to create a webinar or video conference on the site.) Spreecast has, however, begun charging for a few extra services, like custom analytics reports showing you the number of people who viewed your webinar or conference, how many shared it with others socially and how many asked questions. There is also a charge to download the video file from your Spreecast to your hard drive for upload to YouTube or another site. However, all Spreecasts are archived and can be embedded in your site or shared via social media for free. Promoting Your BrandOne of the most important ways small businesses are using Spreecast is to create interaction between customers and brands, said Fluhr. Specifically, he shared three businesses: Founder Institute, an organization for startup entrepreneurs; Tophatter, an online auction house; and Invisalign, creators of a teeth straightening solution. All three businesses use the site to interact with their customers and community. “Spreecast allows another format for these small and medium sized businesses to engage with their audience or engage with their customers,” Fluhr said. In this way, Fluhr positions Spreecast as a tool similar to social sites like Facebook and Twitter, a completely free platform where small businesses can build their brands. Learn more about producing a Spreecast in the video below. The post Spreecast: One on One Video Chats Right in Your Web Browser appeared first on Small Business Trends. |
| Over 50, Female and Starting a Business: 6 Essentials to Consider Posted: 09 Jul 2013 11:00 AM PDT
Are you a woman nearing retirement, but thinking about starting a business? Woman-owned businesses are a critical part of the U.S. economy, numbering 7.8 million according to the latest Census data, and growing at twice the rate of men-owned businesses. For women over the age of 50, small business ownership affords many benefits – additional income, a flexible lifestyle and that unbeatable feeling that comes with being your own boss. In addition, as a workforce veteran, over-50 entrepreneurs (also known as "Encore Entrepreneurs") bring a great deal to the table – maturity, finance and a broad network of contacts and relationships. Whether you are looking to start a business right away or are planning to start one once you've retired, what are your options? What entrepreneurial path should you take? Below are tips and considerations to help you become a successful female encore entrepreneur. Understand the Factors that Drive SuccessSuccess isn't down to securing a bank loan or a buyer for your product or service – small business success is more fundamental than that. It means having a true entrepreneurial attitude – being dedicated and refusing to quit when things get rough. Networking is also critical. Connecting with potential clients and partners is important, but networking also gives you a broader opportunity to learn from the experiences of other business owners and help fill your knowledge and experience gaps. Adaptability is also key – successful business owners continuously assess how their business is performing and make adjustments as they go. Likewise, being open to constructive criticism will help your business stay on the cutting edge and avoid potential problems you might not be able to see on your own. Business You Can Start with Little CapitalAvoid raiding your savings or dipping into your retirement nest egg to fund your business. There are many businesses that you can start with little capital, including the following:
Does Your Idea Have Income Potential?This is a tricky one and many entrepreneurs run the risk of wearing blinders through this part of the business planning process. Weighing the costs of starting and running a business against its earning potential is critical, especially if you are already retired and living on a fixed income. Keeping start-up costs low can help alleviate the risk. Home-based businesses are a great option for reducing costs substantially and can be started for under $1000. Your earning potential will also go up if you focus on doing what you like and what you are good at. Talk to your accountant, small business counselor or mentor (SCORE can match you up with one for free) for guidance on your financial options and good cash flow management. Don't Neglect the Business PlanJust as you wouldn't embark on a long car journey without planning your route, don't skip or delay writing a business plan. You don't need to write a polished thesis. A good plan is simple, flexible and manageable – it steers your business rather than prescribes it. From a big picture perspective, address your strategic direction first, then break down the rest of your plan into mini-plans to include a sales and marketing plan, a financial plan and potentially a staffing plan. Understand the Legal and Regulatory Steps of Starting a BusinessObtaining the right business license or permit, paying estimated taxes, registering your business name, incorporating – these and other legal and regulatory steps often fall through the cracks, simply because new business owners aren't aware of what they should be doing (or don't have to do) to establish a business legally at the city, county, state and federal levels. So seek advice – talk to other business owners, browse your state and local government website or visit your local Small Business Development Center or Women's Business Center for the right information about national and local business regulations. Connect With Your Local Women's Business CenterLocated across the U.S., Women's Business Centers (WBCs) provide women entrepreneurs with in-person assistance and business counseling programs that can help them start and grow successful businesses. Each center is tailored to the needs of the specific community and offer guidance and training on a variety of topics including:
These can specifically benefit women who are economically or socially disadvantaged and wouldn't otherwise have access to comprehensive training and counseling offered in many languages. Over 50 Woman Photo via Shutterstock The post Over 50, Female and Starting a Business: 6 Essentials to Consider appeared first on Small Business Trends. |
| Skillfeed: Video Tutorials to Make Your Web Presence More Visual Posted: 09 Jul 2013 08:00 AM PDT
Images are so much more important today online. With the Web becoming more visual, entrepreneurs and small business staff are being challenged to hone their design skills. And that’s where a new learning center called Skillfeed comes in. Skillfeed is a new service launched in June, from the popular stock photo service Shutterstock. Skillfeed is a video tutorial center. It provides training videos designed to help you become better at Web development, graphic design, photography, video, mobile development, 3D/motion design, and audio. There are even a handful of courses on pure business subjects such as learning to use Microsoft Excel and WordPress. The majority, though, focus on design- and visual-related skills. The videos include short ones, called “Skill Snacks,” that provide a quick overview or hone in on one single feature of a tool. For example, one 4-minute video demonstrates Excel keyboard shortcuts. And then there are long multi-part, multi-hour courses – we saw some more than 4 hours long in total duration. Matching Your Skill LevelOne of the annoying things I find about presentations, books and learning materials is when the learning level isn’t clearly stated. If you’re already at an advanced level, you can waste a lot of time sifting through beginner-level material — and get frustrated in the process. Newbies can be equally frustrated. How many times have you wanted a high-level introduction to a subject, only to get plopped into the middle of advanced level material that has you down in the weeds? You feel lost. Skillfeed addresses that by labeling courses according to skill level. You can sort courses by beginner, intermediate, advanced and expert levels. For $19 a month, you can have access to as many videos as you have time to watch, guiding you through the intricacies of, say, a software tool like Photoshop. Skillfeed currently has more than 10,000 videos available. These videos are all quality-vetted by Shutterstock before they’re posted on the site. With a subscription you can watch unlimited videos on demand. You can bookmark your favorites or ones you plan to watch in the future. You also can see up to 30 seconds of any video for free. Consider the 30-second preview the movie trailer for the course. My observation is that the tutorials can be valuable whether you are a design professional, or simply an entrepreneur who wants his or her website to look better. For instance, I know that I will never match an expert at using Photoshop. For complex or important projects, I will always seek out a real designer. But sometimes you just need to be able to tweak a photograph or add some text to an image. It helps if you have some do-it-yourself skills. An Extension to Shutterstock’s Core BusinessShutterstock founder and CEO, Jon Oringer, noted in a statement announcing the service, “Skillfeed is a natural extension for Shutterstock since we already serve an active, paying community of more than 750,000 professionals who view us as a trusted, creative resource.” Here at Small Business Trends we are users of Shutterstock stock images to add visual interest to articles. We are very particular about not just grabbing other people’s images off the Web. We use only images that we feel secure in knowing will not pose copyright issues later on, and Shutterstock gives us that assurance. It’s good to see Shutterstock adding another service to help small businesses and entrepreneurs “up” their visual game. The post Skillfeed: Video Tutorials to Make Your Web Presence More Visual appeared first on Small Business Trends. |
| 11 Important Factors to Consider Before You Buy a Franchise Posted: 09 Jul 2013 05:00 AM PDT
For would-be (or current) entrepreneurs, becoming a franchisee, especially for a successful outfit, seems like a shorter path to profitability. That said, the devil’s in the details — and there’s more to a franchise opportunity than upfront costs and prior successes. We asked members of the Young Entrepreneur Council (YEC), an invitation-only organization comprised of the country's most promising young entrepreneurs, the following question to find out what factors to consider when evaluating a potential franchising opportunity:
Here's what YEC community members had to say: 1. Check for Proven Systems “When you buy a franchise, you’re buying a proven business model. But if that opportunity doesn’t come with systems that work, then you’ll be flying blind. There should be systems for everything from payroll and marketing to client services and upsells. You also want to find out if training is included or if you’ll be left to figure out the system on your own.” ~ Kelly Azevedo, She’s Got Systems 2. Ask How They Treat Their First Franchisees “It is important to track how the original founders of the company have treated their first franchisees to see if it is a right fit for you. Go and make the personal visit to the first group of franchisees if the company is not willing to let you meet them this is definitely a red flag. Remember, once you sign an agreement it is really hard and expensive to buy yourself out of one. “ ~ Derek Capo, Next Step China 3. Examine Earnings Potential “It can be tricky to evaluate the profitability of a franchise, because you can’t rely on profitability from other franchise locations – that may be affected by location and a variety of other factors. Get a comprehensive list of the financials from other franchises, investigate how the successful ones became profitable, and find out whether other franchises have recently failed.” ~ Andrew Schrage, Money Crashers Personal Finance 4. Consider Coaching to be Critical “One often overlooked, though extremely important, factor to consider when evaluating a franchising opportunity is whether the franchisor offers a well-thought-out, structured and proven coaching program. Great franchisors understand that their success hinges on each of their franchisee's abilities to be entrepreneurial & savvy. Great franchises will invest in their franchisees’ development.” ~ SeanKelly, HUMAN (Helping Unite Mankind And Nutrition) 5. Make Sure they Have Already Succeeded “Some franchises need specific talents or connections to be successful. Before you decide to take on a franchising opportunity, research who has already done well with that franchise. See if there are any common factors — and if you have the necessary characteristics, as well. “ ~ Thursday Bram, Hyper Modern Consulting 6. Acquire Territory Exclusivity “My primary concern when I consider franchising (after the strength of the brand) is whether I can get exclusive territory. If that’s not possible for whatever reason, it makes it much tougher to build and defend a profitable niche.” ~ Erik Severinghaus, SimpleRelevance 7. Know the True Costs of Being a Franchisee “I review many franchise agreements. There are often hidden fees in addition to the royalty payments, such as required marketing fees or training. Be sure you know the true cost of being a franchisee to make sure the franchise opportunity is the best one for you and your family.” ~ Doug Bend, Bend Law Group, PC 8. Look for Knowledge-Sharing Among Franchisees “Any good franchise will align the interests of the franchise and the franchisees. One way to enhance your odds of success is to franchise from an organization that connects all of its franchisees. Because you will have territorial protection, you should feel free sharing with (and asking questions of) other peer franchisees. Their experiences will help put you on the right track.” ~ Aaron Schwartz, Modify Watches 9. Seek Advice From Existing Franchisees “What do the company's fellow franchisees think? It's easy to get swept away in the great information the company espouses, but what's it really like? I advise every potential franchisor to sit down with someone who has converted and ask him the tough questions. Existing franchisors should be willing to mentor newbies. Their enthusiasm should be contagious!” ~ Kuba Jewgieniew, Realty ONE Group 10. Analyze Market Opportunity “It's easy to get lost in the FDD numbers and lose sight of the big picture. The dollars and cents are important, but they're also irrelevant if you find out a few months into owning the franchise that your personality doesn't fit with the culture. Attend the "Discovery Day," get a feel for the company's values and vision, and make sure you mesh well with the people behind the brand.” ~ Nick Friedman, College Hunks Hauling Junk and College Hunks Moving 11. Get Comfortable With Company Operations “When evaluating a franchising opportunity, you should determine if you are comfortable with the extent to which you can modify operations. Quite often, franchises have strict rules on how to operate the business — often not allowing innovative franchisees to explore new marketing strategies or product positioning. Make sure you are comfortable with what you won't be allowed to change.” ~ Chuck Cohn, Varsity Tutors The post 11 Important Factors to Consider Before You Buy a Franchise appeared first on Small Business Trends. |
| CorpNet Adds Free Meeting Minutes and Corporate Document Templates Posted: 09 Jul 2013 02:30 AM PDT
Professional documents can be time consuming to prepare, not to mention expensive if you have to hire a lawyer to draft them. If you’ve incorporated your small business or are planning to do so, from time to time you’ll need to prepare corporate documents to adopt or amend bylaws, appoint directors, select an accounting period, appoint officers to your board, and more. Many official corporate actions require proper documentation. If you don’t observe formalities, you can lose the liability protections of the corporate structure. One solution is to start with corporate document templates you can use for a do-it-yourself approach. CorpNet has launched its Meeting Minutes Templates, a free resource with dozens of templates, with just this purpose in mind. You choose specific corporate documents you need to generate. You fill in the blanks online. Then you print the completed document. And you meet your obligations to follow corporate requirements. Innovation: Not Limited to Traditional Product CompaniesThis latest resource is one more example of continuous innovation by a service company. For instance, in May, CorpNet released its Business Information Zone resource. A cloud-based corporate compliance tool, it lets business owners set up alerts keeping track of important tax and corporate filing deadlines. CorpNet President Nellie Akalp and her husband Phil founded CorpNet four years ago – but they are not newcomers to their industry. They are actually pioneers in the legal document filing industry. The couple launched their first document filing company, MyCorporation, in 1997, then sold it to Intuit in 2005. After a period of time out of the marketplace under a noncompete, they reentered the industry with their new company. Since then, the husband-and-wife business owner team has continued to adapt and innovate. The company recently tripled its office space to accommodate a growing staff and has spent an estimated quarter of a million dollars on product development, Akalp says. She estimates the company has incorporated more than 6,000 small businesses (or helped them file LLCs) in the last year. “Constantly Innovate”Akalp suggests that even small businesses in service industries can innovate — and must if they want to stay ahead of competitors. “You have to constantly innovate and come out with new tools and apps that make the end user’s job easier,” she says. “We came out as the new kids on the block in 2009, and because of our constant product development to date, we are back in the game and right up there with the rest of the leaders.” Akalp says CorpNet uses SurveyMonkey for client surveys and TryMyUI to get feedback about the company’s website. Both have provided valuable feedback on the company’s products and services, she adds. She suggests small business owners regularly engage with clients, finding out what they need through customer inquiries, surveys, and Google searches. Then find ways to respond to those needs with an evolving offering of products and services. ”Just don’t stand still.” The post CorpNet Adds Free Meeting Minutes and Corporate Document Templates appeared first on Small Business Trends. |
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