LG Could Unveil New Curved Phone in November |  |
- LG Could Unveil New Curved Phone in November
- Handling the Risks Associated with Raising Money on Kickstarter
- Amazon Web Service “AWS Activate” Launched for Startups
- Challenges and Opportunities of Mobile IT: Twitter Chat Recap
- Dell Announces New Venue Tablets for Windows and Android
- 7 Marketing Lessons From My Local Barber Shop
| LG Could Unveil New Curved Phone in November Posted: 18 Oct 2013 02:00 AM PDT
Just weeks after the announcement of the first curved smartphone, the Samsung Galaxy Round, images of a second curved phone have emerged. South Korean LCD Display maker LG Display announced recently it would start mass-producing flexible OLED screens for smartphones. The organic LED display screen technology is used in computer monitors, PDFs, handheld games and other devices. In a recent prepared statement issued in an official company release, Dr. Sang Deog Yeo, Executive Vice President and Chief Technology Officer:
New LG Curved Phone Could Be More AccessibleFor small businesses and mobile entrepreneurs this could mean a more accessible phone. Images of a yet-to-be-announced LG phone published by Engadget (pictured above) shows a completely different curve. That’s top to bottom instead of along the access like the Samsung phone. But more importantly, mass production of the device probably means a lower price and greater availability. The Samsung phone, while unique is priced at around $1000 and currently only available in South Korea. Pricing, availability and more detailed specs will likely not be available until sometime next month, Engadget reports. The new curved display is also said to be “bendable and unbreakable” which, if true, might also make the device a good value for the on-the-go entrepreneur. Image: Engadget The post LG Could Unveil New Curved Phone in November appeared first on Small Business Trends. |
| Handling the Risks Associated with Raising Money on Kickstarter Posted: 17 Oct 2013 04:00 PM PDT
For young companies, crowdfunding can seem like easy money that will let them build the business they've always dreamed about. So far, more than 49,000 projects have been funded on Kickstarter to the tune of $821 million. But there are risks associated with raising money on Kickstarter and similar sites. Compared to applying for other funding sources, it's relatively quick and simple to post a pitch on a crowdfunding site like Kickstarter to see what happens. But this faster pace often means that people looking for funds are less likely to consider some important aspects of running a business. Raising Money on Kickstarter: Liability and Tax IssuesLiabilityWhile you may not be dealing with the same amount of contracts and paperwork as you would with a traditional lender, raising money on Kickstarter is still serious business. You may not be dealing with a banker or VC (venture capital) firm, but with crowdfunding, you're actually dealing with tens, hundreds, even thousands of investors. A lot of the time, crowdfunding seems like a platform where startups take pre-orders from customers for a not-yet-finished product. And that dynamic always carries risks. For example, CNN Money reported that:
When backers are excited to get their product, any delays will only disappoint and frustrate them. Obviously, no one starts a crowdfunding campaign to fail or weasel people out of money. However, any time you're making something, whether it's a tech product or something creative, you can't always plan how things will work out. And, unfortunately, not every project will work out. Precautions to Take in Advance So, what does that mean for you? If you want to launch a fundraising campaign on Kickstarter or any other crowdfunding site, you should take the following steps before you post your project: 1. Form a Legal Business Structure, Like an LLC or Corporation This will give you a layer of protection that can help shield your personal property/assets/finances from your business. If something happens to your project, it means that the business is liable, not you personally. Remember, you need to have the LLC or corporation officially established before starting the crowdfunding process. All contracts and forms should be done through the LLC and corporation (and not signed by you as an individual). Get an EIN (Employer Identification Number) After Your LLC/Corporation is Formed If you're not familiar with an EIN, it's essentially a social security number for your business and you'll need it to open your business' bank account. Open a Business Bank Account Once you have an EIN, your LLC/corporation can open its own bank account. This is going to be an important step to making sure your personal and business finances stay separate. TaxesThe tax implications of crowdfunding can catch people off guard if they don't do a little homework beforehand. When people raise money through traditional sources, those funds are considered "contribution to capital." That means they're usually not taxed. However, whenever you raise money on Kickstarter, those funds are considered income. You'll most likely be issued a 1099-K. If you bring in a lot of income from crowdfunding, you'll most likely want to offset it with deductible expenses. Most likely, if you're starting/finishing your project, you will have expenses. The problem occurs when your Kickstarter funds fall in a different tax year than your expenses. For example, let's say you receive your Kickstarter funds in November, but then you don't actually dive into the project and start spending until January of the following year. To address this issue, you have two options:
The bottom line is that you need to approach Kickstarter or any other crowdfunding campaign as a traditionally funded business. It's not a side project or hobby and all of the normal business rules apply. Money Photo via Shutterstock The post Handling the Risks Associated with Raising Money on Kickstarter appeared first on Small Business Trends. |
| Amazon Web Service “AWS Activate” Launched for Startups Posted: 17 Oct 2013 01:30 PM PDT
Those familiar with online business may know Amazon is much more than a huge online retailer. The company also provides a variety of cloud hosting services for other online businesses. But if you’ve found exploring the possibilities of Amazon Web Services (AWS) a bit intimidating up until now, there’s good news. Amazon recently announced a new introductory service called AWS Activate. The service allows startups to dip their toes into Amazon online services. Initial signup is free. In an official news release on the company’s website, Amazon explains:
This video further explains the new service: AWS Activate Offers BasicsAny startup can apply for the “self-starter” package through AWS Activate. Amazon says the package includes access to the AWS Free Usage Tier. It includes a year of free services the company says will allow businesses to launch new mobile apps or get familiar with AWS services without worrying about being charged for that experimental time. Amazon says it will also include a month of one-on-one support, allowing startups to speak with support staff who can answer questions about how further services can meet business needs. The company says the self-starter package also includes Web-based training support and access to one “self-paced lab” where you can learn a new skill or feature. In addition to the self-starter package, Amazon is also offering a portfolio package it says is designed for “startups in select accelerator, incubator, venture capital seed funds or entrepreneur organizations.” The post Amazon Web Service “AWS Activate” Launched for Startups appeared first on Small Business Trends. |
| Challenges and Opportunities of Mobile IT: Twitter Chat Recap Posted: 17 Oct 2013 11:00 AM PDT Flexible mobile tech solutions can allow small business owners and their employees to work where they want, when they want. But, of course, security is always an issue. On Wednesday, members of our small business community joined in a lively Twitter chat sponsored by HP. They also invited me and Ramon Ray of SmallBizTechnology.com to participate. How Flexible Mobile IT Refreshes Small BusinessAt one point, Ramon shared a photo of how one mobile warrior replenishes himself while on the go.
Meanwhile. . .The community joined in for a question and answer session. The topics included how more mobile IT solutions can replenish all small businesses, making them more flexible and productive than ever before. Here are some quick stats from HP:
Ramon Ray also shared another way to look at those same numbers from a 2011 IDC study. And this infographic shows us mobility doesn’t stop with your phone.
Mobile Technology and Your BusinessThe community also discussed some big picture issues when it comes to small businesses and the mobile workplace.
Another challenge with greater mobility is the security of your company’s data. Here was the discussion in our community.
Our community also had some thoughts on the kinds of technology small businesses should look at investing in to allow them to flex their mobile IT muscle.
Other ThoughtsHere are some other thoughts from our community on the world of mobile tech and how it can transform your business.
What challenges/opportunities does mobile technology offer your business? The post Challenges and Opportunities of Mobile IT: Twitter Chat Recap appeared first on Small Business Trends. |
| Dell Announces New Venue Tablets for Windows and Android Posted: 17 Oct 2013 08:00 AM PDT
Small businesses in search of inexpensive tablets now have even more options. Just a few weeks after Microsoft introduced a new crop of surface devices, Dell has announced its own. Dell’s new Venue tablets will also offer the option of a Windows operating system, but there are also Android models available. In an official release the company explained:
Here’s a quick overview of some of the new Dell devices: What the New Dell Venue Tablets Have to OfferThe largest of the four new devices is the Venue 11 Pro running Windows 8.1. Dell says the tablet can double as a laptop with an optional detachable keyboard. The 11-inch device features full HD resolution display. Keyboard options include either a slim set of keys that can double as a cover for the screen or a more rigid full-size keyboard that you’d expect in a more traditional laptop. Dell says the Venue 11 Pro also has an optional Active Stylus and detachable and replaceable battery and will start at $499.99. Other tablets include:
The Venue 7, Venue 8 and Venue 8 Pro models will be available at Dell.com in the U.S. and select countries beginning tomorrow. Dell says the Venue 11 Pro will be available sometime in November. [Image: Engadget] The post Dell Announces New Venue Tablets for Windows and Android appeared first on Small Business Trends. |
| 7 Marketing Lessons From My Local Barber Shop Posted: 17 Oct 2013 05:00 AM PDT
I learn so much from small businesses that I visit. I have previously written small business thoughts while having a pedicure and recently, I looked around as I sat in the chair at the local barber shop. Suddenly, I had many useful thoughts about local marketing lessons that could be gleaned from this small business. I eventually came up with seven. Local Marketing LessonsSign StrategyI discovered the Traville Barber Shop in 2007 due to their signs. The Strip Mall at Traville Gateway in Rockville, MD was new and as I drove past my regular commute route, I saw the sign and decided to try this small business. Primarily it was the closest and I still go there. I must add that I was the first to review this business. Now, it has 24 reviews and many of them say that they didn’t want to review it, selfishly, because the “best kept secret in Rockville” is now out. Takeaway: If you have a brick and mortar business, you should make sure you have signs with direction arrows in the surrounding areas. Especially on weekends. “Open” for Business Sign
Takeaway: Consider an illuminated flashing sign that indicates your business is currently “open for business” during business hours. Also provide your hours of business. If you ever have to close for holidays or special occasions, make sure you have a sign to indicate this. The Ritz Carlton WayI am not saying they copied from the Ritz Carlton’s books, but as you walk in, almost all of them look up and greet incoming customers. The owner, Dimitri Axaopoulus, always make sure he talks to every customer when he is in the store. Greeting every customer is important. Takeaway: When a new customer enters your business, a friendly greeting goes a long way to make them feel comfortable. You have to stress the importance to everyone on your team. Remember, smiles are free and priceless. Asking the Right QuestionsI am not that particular about my haircut and too many questions bother me because I am scared of the results of my instructions. I like saying a simple “short” or “medium short” and they seem to know the rest. They do periodically ask my opinion to see if they are following the instructions and I have observed them catering to other customers who want their hair cut in a particular way. Takeaway: There are several points in the delivery process of your product where your customer’s opinion is important. Build a way into that delivery process to get your customer’s opinion. Train your team to ask the right number of questions at the right time. Setting Customer ExpectationsWhen I went for a haircut this weekend, it was busy and the chairs in the waiting area were almost full but . But the wait was not long. There was enough staff and I was seated within 3 to 4 minutes. As new customers came in, they were greeted and told that the wait time was not more than 10 minutes and that was probably accurate. Takeaway: As you become successful, don’t let your service drop. Scale the business and set the right expectations for your customers so that they keep coming back. On the day, I was getting ready to be the keynote speaker at Georgetown University’s Certificate Completion Ceremony and could not have waited long. I am glad they had extra team members to handle the volume. Providing ExtrasYou go for a hair cut and then you are delighted by touches like – warm shaving cream and a shoulder and head massage. Suggesting a trim of hair around ears and eyebrows are all things that make me happy. It’s also the way for this store to give it’s customers something extra as part of the package. That delights customers, as you can see from the Yelp reviews. Takeaway: There is always a way to provide something over and above to delight a customer. Remember, the chance of your next new customer coming from your existing customers is very high. Taking Care of Non-CustomersEven though my son does not get his hair cut here, he wants to come with me most of the time. He gets hot pop-corn, maybe even a lolipop and the chance to play with the cars in the waiting area. This goes a long way with kids. I have seen a large amount of them come to the business. Takeaway: Offer customers something that takes care of them while waiting. There are many ideas for this – maybe a car wash while you get your haircut? That’s probably carrying it too far but, who knows? My friend, Anjali Verma at Kidville Bethesda, has an area where kids can get a hair cut and many parents use it. What have you learned from your local barber? Barber Photo via Shutterstock The post 7 Marketing Lessons From My Local Barber Shop appeared first on Small Business Trends. |
When the store is open, there is always an “open” sign that attracts attention by blinking. Sometimes, I make the impromptu decision to walk in as it is conveniently open. They also have clear business hours and a nicely marked sign when they close for holidays or other occasions.| You are subscribed to email updates from Small Business Trends To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
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