Apple iBeacon Is a New Location Tracking Alternative to GPS |  |
- Apple iBeacon Is a New Location Tracking Alternative to GPS
- QuickBooks Replacement Intacct Raises Money to Penetrate SMB Market
- Be The Best “Business Of One” You Can Be
- EXCEL Act Offering Capital to Small Businesses May Not Be Dead Yet
- Brady’s Beef: Diversification and Personal Customer Relationships Are Key
| Apple iBeacon Is a New Location Tracking Alternative to GPS Posted: 19 Feb 2014 02:30 PM PST
Apple’s new iBeacon and other future beacon technology could transform how your business communicates with customers and employees. Beacons use low-powered radio signals to allow smart devices to communicate with them. The iBeacon, specifically, allows iPhones to communicate via Low Energy Bluetooth. Indoor spots with poor cellular service and where GPS doesn’t always work are ideal locations for beacons, Business Insider notes. The iBeacon was included in Apple’s iOS7 update. And iPhones with Bluetooth 4.0 can act as both receivers and transmitters. Apple introduced physical iBeacons at its retail stores recently. Several are strategically placed throughout the store and as a customer walks around, the beacons trip off messages to that customer’s iPhone. A customer can even scan an item they want and pay for it from their phone using the Apple Store app. The app too uses beacon technology, according to information at the Apple website. In another example, if a grocery store has beacons placed in specific aisles, when a customer walks in range of that beacon, they can be informed via a mobile device of products on sale. Advertisers are even arranging with grocery retailers to have spots played on a phone while a customer is walking through a particular aisle, according to a recent Bloomberg report. Kirsten Osolind, President and COO of re:invention consulting, observes:
BestFit Mobile, a company that aims to improve how brick-and-mortar retailers use Low Energy Bluetooth to their advantage, adds more business applications for beacon technology in a recent statement:
There are a few drawbacks to fully utilizing beacons as a means of communicating with customers or employees. The biggest is that for it to work, the intended recipient of the message must have your business’ app installed on his or her phone. The customer must also have a Bluetooth radio on and agree to accept messages from your beacons. Using Smartphone Photo via Shutterstock The post Apple iBeacon Is a New Location Tracking Alternative to GPS appeared first on Small Business Trends. |
| QuickBooks Replacement Intacct Raises Money to Penetrate SMB Market Posted: 19 Feb 2014 12:30 PM PST
Cloud accounting software company Intacct has just raised $45 million. The company says it will use the money to improve its product and do more marketing. That may be a good idea. If you haven’t heard of the company yet, you’re not alone. Intacct is still relatively young and small, used by a little more than 7,300 customers. Those customers range from accounting firms to tech companies and even non-profits and faith-based organizations. The cloud software provider positions itself as a replacement for QuickBooks and similar on-premises accounting software for larger companies — like Sage and Oracle. With prices starting at $400 per month, Intacct is obviously targeting the larger end of small businesses and midsize companies. Though small, the company experienced some rather impressive growth last quarter. Intacct reports the business saw a 40 percent increase in the number of bookings compared to last year. The company also says it experienced almost 60 percent growth in new customer acquisition for the quarter ending December 2013. In an official announcement on the Intacct website, CEO Robert Reid said:
The new round of funding was led by Battery Ventures. Other investors include Bessemer Venture Partners, Costanoa Venture Capital, Emergence Capital, Sigma Partners, Split Rock Partners and Morgan Creek Capital Management. The market for cloud-based accounting systems for small to medium-sized businesses is getting crowded meaning more choices for small business owners. Late last year, the cloud-based accounting software company Xero announced raising $150 million in funding for further expansion in the U.S. market. Like Xero, the San Jose company is focused on promoting its cloud-based software as a service model as distinctive from older on-premises systems. In the release, Intacct spells out this differentiation:
Listed among the companies customers are a variety of firms including Wikipedia, Signal 88 Security, Meetup and Grubhub Image: Intacct The post QuickBooks Replacement Intacct Raises Money to Penetrate SMB Market appeared first on Small Business Trends. |
| Be The Best “Business Of One” You Can Be Posted: 19 Feb 2014 10:00 AM PST
Having your own business is still one of the most dreamed about career goals most people have, but one of the hardest to sustain. Just the idea of it sounds rewarding and fulfilling and it is. But, don't get lulled into romanticizing it. If you are going to start a business, you just have to make sure you are doing everything that you need to do to professionalize it. The entrepreneurial mindset is characterized by initiative, adventure, risk and perseverance. Not everyone is cut out for this going it solo – ownership experience. We are responsible for taking ownership of being the best at who we are and what we do. We all "own" our process which greatly impacts the outcome of how things turn out. My colleague JT O'Donnell, Founder of Careerealism, says:
Taking leadership of your company if you do own it and ownership of your career if you run it are “musts” in today's competitive business world. Take it from me, after 7 years it is not for the faint of heart, but it is fulfilling. As I continue celebrating this milestone as an entrepreneur, I am also musing and thinking about what it took to get here and what it will take to stay. Small Business Delivers Big Opportunity For ManyThe SBA considers firms with fewer than 500 employees small, placing nearly every business in the country (99.7 percent of firms that have employees) under that umbrella term — thus, it is no surprise they employ the most workers. Forbes uncovered some impressive current statistics about small business from it's 38 million members, which gives us a good picture of the current small business landscape which is encouraging:
Small business in this country drives the economy and our communities. One can be a successful small business locally or globally, with a brick and mortar store or a website hub, or both. The US Small Business Association definition of small business:
Whether you are a business of one, two, three or five hundred, what it takes to start up and be successful requires the same fundamentals, regardless of size. The biggest differences are scalability and operations. Carefully Consider the Benefits and Liabilities of Being a “Business of One”The key benefits to being your own boss include financial freedom, flexibility, decision making power, creativity, innovation and a viable solution to being unemployed or underemployed. Imagine taking your talents or hobbies and applying them to a viable niche or maybe taking on a franchise. I have sadly witnessed the negative outcome of people who jumped in without the proper assessment, evaluation, product, plan, capital and skills. They were wiped out financially, emotionally and had a hard time recovering. This endeavor can be a dream maker or dream killer. Going into it with the right skills, plan, motivation and professionalism and not a fantasy is the preparation that can make it or break it. If you are thinking about starting a business or just have, here are some resources from the SBA.gov that are invaluable. Twenty questions and 10 steps that can help you make good decisions, be better prepared for the challenges and improve your success. Make Sure Are You The Right Fit for The JobThe question of whether successful entrepreneurs are born or developed is an ongoing discussion. I will say, and do believe, that entrepreneurs share some important qualities. They take initiative, seize opportunity and have a higher risk tolerance. They are good decision makers, more focused and have stamina. Take advantage of Score, the SBA, Small Business Development Centers and free workshops in your county or city and get some counseling. Most of this is free or a nominal fee. Find a Need and Niche and Fill itWhat can you do? Can you turn a hobby into a side or main business? What do people need? What trends open up opportunity? These are the questions to ask yourself. I love the show Shark Tank because it presents real people creating and inventing things that they hope make people's lives better. Most of the products and services are born out of finding a solution for something they needed that they couldn't find. Talk to people you network with, and watch what hot social media topics are getting the most action to track what people are talking about. Build Your Tribe and BuzzIf you have already started a business, I encourage you to use all of the self marketing, promotion and professional branding tools available today. Social Media alone can be a huge way to build your tribe, buzz and word of mouth. Combine the power of visual pictures with great content that educates and tells your story and the story of your customers. Your professional brand image should be current, fresh and focused. Here are some hot business and industry categories, that might be a good match for your skills and interests, to start your small business. This is the best time to start a business since 2011. But it takes the right personality, niche and plan. If you believe in yourself and what you can do to help people, then I say go for it. It's exciting, rewarding and fun most of the time. Be the best “business of one” you can be – but remember to build a strong network of many to support you. Business Woman Photo via Shutterstock The post Be The Best “Business Of One” You Can Be appeared first on Small Business Trends. |
| EXCEL Act Offering Capital to Small Businesses May Not Be Dead Yet Posted: 19 Feb 2014 07:30 AM PST
Remember the EXCEL Act? Not many people do. The acronym stands for Expanding Access to Capital for Entrepreneurial Leaders. The bill was first introduced in 2012. It was supposed to increase the amount of capital available to small businesses through a program regulated by the Small Business Administration. Most recently re-introduced to the Senate in September 2013, it is still awaiting a debate on the floor and a vote. Despite support from Democrats and Republican in Washington, it has gone nowhere. Still, some on Capitol Hill say the idea behind the legislation isn’t dead yet. U.S. Sen. Mary Landrieu (D-La.) touched on the EXCEL Act during the confirmation hearing of Maria Contreras-Sweet as new administrator of the SBA. Landrieu said the bill could have helped up to 40 small businesses and created close to 2,000 jobs immediately if it had passed. Landrieu wanted Contreras-Sweet to affirm her support for the EXCEL Act and other measures that would help small businesses get access to long-term capital. The legislation was first introduced by Landrieu during National Small Business Week in 2012, and was re-introduced to the Senate in September 2013. The Louisiana Senator said her bill had bi-partisan support but was held up from passing by “a handful” of legislators. Landrieu was, until last week, chair of the Senate Committee on Small Business and Entrepreneurship. As a refresher, here are some more details on the EXCEL Act: If passed, the bill would actually amend the Small Business Investment Company (SBIC) program. First, it sets the maximum amount of debt that the Small Business Administration (SBA) can guarantee under the SBIC program at $4 billion per year. That’s an increase from $3 billion currently. It’s believed the increase in the SBA’s leverage limit would encourage more private investment funds as a result. Provisions in the legislation would encourage banks to offer more SBA-backed loans. But it would also direct small businesses that are denied loans back to the SBA for more guidance. The bill would encourage banks, individual investors, and local municipalities to invest in SBIC Funds, according to a Small Business Committee report. SBICs are private investment funds regulated by the SBA that invest in qualified small businesses with private capital and money borrowed through SBA guaranteed securities. Money Photo via Shutterstock The post EXCEL Act Offering Capital to Small Businesses May Not Be Dead Yet appeared first on Small Business Trends. |
| Brady’s Beef: Diversification and Personal Customer Relationships Are Key Posted: 19 Feb 2014 05:00 AM PST Sponsored Post
John Brady recalls the ah-ha moment when he decided that selling directly to the public was the way to go. Brady runs Brady’s Beef, a business supplying “grass finished” and naturally raised beef. The business sells directly to families in Salt Lake City, Utah. Customers are also in Pocatello, Idaho Falls and Boise in Brady’s home state of Idaho, as well as customers as far off as California. All these deliveries are made directly by truck from Brady’s home base in the tiny community of Downey, Idaho, the location of Brady’s Plant Ranch. Brady says the answering machine at the ranch literally says that if no one is there to pick up the phone, it is because they are out “rounding up the roses and branding the begonias.” That’s because the ranch does not just raise cattle, but also raises ornamental plants in greenhouses and sells them at a garden center that draws local customers. The business also grows vegetables that are sold at farmer’s markets. This gives the ranch, operated by Brady, his wife, one full-time employee and some seasonal employees — three distinct businesses with very different markets.
Between 12 and 15 years ago, Brady sold many of his products not directly to customers, but for wholesale to larger companies. Especially in the case of the ranch’s ornamental plant business, Brady had marketed aggressively to larger greenhouses. It was so much easier to load all your inventory of ornamental plants into a truck, drive them to a single destination and sell them all at once. But Brady will never forget the year that his biggest customer simply said “no.” It was due to internal changes at the customer’s company, but of course Brady’s small business was affected. Suddenly, he was stuck with a full inventory from his greenhouses and nowhere to sell them. It was difficult, but Brady managed to scramble and sell what he had produced anyway. Still, the experience taught an important business principle that he abides by to this day. Relying on only one or a few big customers might make things easier in one way. But in another, there was always the huge risk one big customer would simply stop buying. The ranch had cows and calves that it had been selling on the commodity market for quite some time. But Brady said determining they could make more money selling beef retail had been part of what drove some smaller beef producers into a new market. Another factor, he said, was a minor scare over “mad cow” disease some years back. The issue sparked public interest in beef raised on grass or hay, as opposed to other less natural or less traditional alternatives.
But as much as the product the ranch produced could be described as back to basics, the system used to market it is pure 21st century. The Brady ranch has strong customer bases for their produce at farmer’s markets and for their ornamental plants at their local garden center. Still they found interesting these two distinct customer groups in a new product, naturally raised beef, was a hard sell. So they had to find new customers. Enter the Internet. Brady admits:
Brady reckons his Web presence at BradysBeef.com and the efforts of son Robert, an online marketer at Righteous Marketing, are largely responsible. After all, with most of his customers between 35 and as much as 850 miles away (in the case of California) it’s tough to believe anything else. Brady prefers to sell his beef to individual customers and families he can meet face to face. He finds the feedback very helpful and believes a personal relationship with clients is an important part of his business. He has been approached by restaurants, but says most aren’t good fits as customers. Most restaurants, he points out, serve steak and hamburger. But he has to sell the entire beef. He’s also resisted taking orders from customers he can’t deliver to personally. Examples would be interest he’s received from people in New York and Florida. He says filling these orders would require shipping and a whole new level of complexity to his business. Also, he says he doesn’t like the idea of freezing beef for transport and prefers selling his product fresh. One solution is a line of beef jerky the ranch is now test marketing. In theory, it would be a product that would be easier to ship over long distances. As far as other ways to expand, Brady says the business plans to market more creatively to customers of the ranch’s two other customer bases: Those visiting farmer’s markets for produce and those visiting the garden center for ornamental plants. * * * * * iCIMS, a leading provider of talent acquisition solutions for growing businesses, is proud to be the official sponsor of Small Business Trend's "Small Biz Spotlight" of Brady’s Beef. Like iCIMS, Brady’s Beef has overcome challenges and has gone on to succeed by constantly adapting and improving. iCIMS is delighted to have the opportunity to support the passionate drive and dedication of companies like Brady’s Beef through the sponsorship of the "Small Biz Spotlight." (Visit the "Small Biz Spotlight" series archives and stay tuned for more small business stories there.) Images: Brady’s Beef The post Brady’s Beef: Diversification and Personal Customer Relationships Are Key appeared first on Small Business Trends. |
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