You don’t have to go it alone. You can find a great deal of help — much of it free — whether you’re transitioning to self-employment (sorry about your layoff!), facing new challenges in your existing business (sorry about the economy!) or hoping to start or expand a company (yes, you can do it!).

Over the years, I’ve noticed one big difference between successful entrepreneurs and those who fail is that successful people seek out good advice and listen to it.

Small Business Development Centers:
I’m listing these first, because I think SBDCs are one of the country’s best-kept secrets and a terrific source of excellent quality help. In fact, I was once a client.

Trade Associations:
If you’re looking for information about your specific industry — and who isn’t? — one of the best sources is your own industry association. No matter what type of business you’re in, I’m betting there’s an association for it, especially since there are nearly 40,000 trade associations. Whether you’re a caterer, consultant, cartoonist, or canine cosmetologist, there’s an association for you.

Local entrepreneurs and business organizations:
In most communities, you’ll find a whole range of business groups with opportunities for you to meet with your fellow entrepreneurs and build your business. I met the contact that eventually led to my first book contract from a local entrepreneurs group!

Community colleges, extension courses:
Want to learn necessary business software programs? Management skills? You’ll find a range of short courses, certification programs, or one-day workshops at your local community colleges and university extension programs. These programs are typically very affordable and instructors are usually practicing professionals in their fields.

SCORE:
Standing for the “Service Corps of Retired Executives,” SCORE is a non-profit organization. SCORE has over 10,000 volunteers who are retired business owners or executives. They offer free counseling and have an extensive website.

Photo by tandemracer.

From Business Opportunities Weblog.

U.S. output per worker rose at its fastest pace in six years during the second quarter as businesses wrung more productivity from fewer staff in a sign that a recovery from recession will be slow and unlikely to create a surge in hiring.

A Labor Department report showed non-farm productivity, a gauge of hourly output per worker, jumped at a 6.4 percent annual rate, the sharpest since the third quarter of 2003 after a 0.3 percent gain in the January-March quarter.

“The bounce in productivity is another indication that the nasty U.S. recession is drawing to a close. The bad news is, however, that firms are still reluctant to hire,” said Harm Bandholz, an economist at UniCredit Markets and Investment Banking in New York.

Photo by washingtoncitypaper.

From Business Opportunities Weblog.

photo credit: macroninja

I recently came across an article listing U.S. economic trends that had no chance of lasting forever in this economy. The article argues that the current recession and economic downturn is causing the need for realignment between our U.S. Government and private sector’s. It is no shock that with the way the economy has been that there would be some drastic changes even in thing’s we never thought would fall. Below is a short list of the 8 U.S. economic trends that couldn’t last forever.

• Home Ownership levels.
• Low energy prices.
• Trade deficit levels.
• Consumer Savings.
• Consumer spending.

For the complete list of U.S. economic trends that are falling and a description about each one, please visit Small Business Labs.

From Business Opportunities Weblog.

With cycling gaining ground as a regular mode of transportation, flat tires and broken chains are on the up, too. Which creates an opportunity for bike-loving entrepreneurs: mobile bike repair shops.

In the Netherlands, for example, we’ve spotted companies like Fix Fiets and Bikemobiel, both of which do house calls in vans or trucks outfitted as mobile workshops. Service is even more mobile (and emission-free) in Cologne and Berlin, where stranded cyclists can call a ‘Radambulanz’—a cycling mechanic with a small trailer containing tools and spare parts for fixing flat tires and performing other common repairs.

While some mobile repair services tack on a small trip charge for coming to a customer’s home or workplace, rates are generally comparable to those charged by brick and mortar bike shops. And although they’ve been popping up in Europe over the past few years, mobile services are far from commonplace.

Time to launch a well-branded Geek Squad of bike fixers?

Editor’s note: In the US, AAA will begin offering roadside assistance for cyclists in Oregon and Idaho.

Photo by bikemobiel.

From Business Opportunities Weblog.

Recent efforts to help small businesses haven’t mirrored those implemented in the aftermath of 9/11, but new measures from the stimulus have been productive.

Obama’s $787 billion stimulus plan includes incentives for banks to make more loans backed by the Small Business Administration. The program temporarily reduces fees associated with those loans and ups the loan guarantees to 90%.

The plan also calls for a new initiative known as “America’s Recovery Capital,” which allows viable small businesses to receive interest-free loans of up to $35,000 to pay down existing debts.

But lending activity remains down, primarily because banks still see small business loans as a huge risk.

(According to one analyst’s report, their 2008 failure rate hit almost 12%, compared to 2.4% in 2004.) Banks also hesitate before making SBA-guaranteed loans because they cost a great deal to administer — regardless of the loan amount — and because the agency can back out of these guarantees even after banks make the loans.

Photo by edopter.com.

From Business Opportunities Weblog.

photo credit: electricnude

Below are some recession indicators that you may never have thought would be a sign that we are in a recession, but when you sit down and think about each one of them, they make a lot of sense actually.

• Movie rentals at home are up more than before.
• More people are beginning to get into farming their own fruits and vegetables.
• Online dating sites increase in volume.
• Sales on neck ties goes way up.
• Sales on mens underwear goes way down.
• McDonald’s sales goes up, most likely due to their cheap menu prices.

It goes to show that during a recession it is expected to see certain sales going up for those products that are catered more towards home bound life and sales going down for those products that are catered more towards out of home bound life, as posted on BPlans.com.

From Business Opportunities Weblog.

photo credit: giuvax

Blinded by mass layoffs and the financial follies of Fortune 500 companies, we have overlooked a smaller but more important transformation: the increasing importance of small businesses in our economic recovery.

• Action is the single most important part to a small business surviving during tough economies. Those who just sit around waiting for something to turn around are the ones who will fail. Those who rise up and take matters into their own hands finding numerous creative ways to better their situation are the ones who are most likely to survive.
• Give your clients what they want and need to feel comfortable. Today more people are staying home, cutting costs, turning down their thermostats to save a little money, and more. So give them the products that entertain them while at home, make them feel comfortable and warm while being at home.
• Plans are good to have for reference, but the actual “planning” is the best way to go. Always keep planning over and over. Have a few different scenarios worked out in your mind or on paper that way your somewhat more prepared if the worst should happen.
• In the end, always test your efforts, measure their success, and then go back and do it all over again a few more times. You just may come up with better ideas along the way or maybe even better results the more you do it. As suggested on Harvard Business.

From Business Opportunities Weblog.

Stanislaus County workers increasingly are going it alone. They’re creating one-person companies and depending on their own wits to earn a living.

About 7 percent of the county’s adults — 25,236 residents — reported income from go-it-alone businesses in 2007, according to tax records accessed by the U.S. Census Bureau. This doesn’t include business owners who have employees.

The number has risen steadily this decade.

Working alone was never Anna Harris’ plan.

She earned a master’s degree and a credential to be a school counselor. Harris lost her counseling position last year, however, and she hasn’t been able to find another. Although she landed a restaurant job, she needed more money than it provided.

“About six months ago, I started my own online business,” Harris said. Her site sells handmade and vintage goods. “My shop is picking up momentum and doing quite well.”

Harris also sells items at the Turlock flea market and offers bartending services.

“After eight years of undergrad and graduate schooling, I never thought I would be a Jane of this many trades,” said Harris, a Turlock resident. “But in today’s economy, you have to get creative to make ends meet. I’m 27 and thought at this point in my life I’d be happily working as a school counselor, but … I get a wonderful sense of self-worth from all of my on-the-side endeavors.”

Photo by Modesto Bee.

From Business Opportunities Weblog.

Maureen Russell has three gigs. Hillary Skye works four. And George Peele? He juggles at least five.

All of these Front Rangers are fully engaged with an economy that has become stingy with full-time jobs. To make ends meet, they balance part-time gigs. Economists and others who wrestle with employment issues have dubbed the trend “gigonomics.”

“I was a river guide, but tourism is slow,” said Alyssa Berry, 28, of Lakewood.

“I’m painting people’s houses. I’ve been raking leaves for three days now. Helping people clean up. Whatever someone will pay me to do, I’m doing. Dog sitting.”

There is no question more people are working part-time jobs today than when the recession started in December 2007. According to the federal Bureau of Labor Statistics, there are now 4.4 million more workers toiling at part-time jobs for economic reasons than there were 18 months ago. In all, the bureau counts 9 million people falling into this category.

Many of them were thrust into gig-shuffling situations and cannot wait to land a full-time job, with a steady paycheck, benefits and dependable, 9-to-5 days at the office.

But for some, estrangement from the boss man has been liberating. Nobody is taking note when they come and go or take vacation. They don’t pray for positive annual reviews so they can receive a 3 percent raise.

Instead, they just hustle for more gigs.

Continue Reading: “Gigonomics”

Photo by The Denver Post.

From Business Opportunities Weblog.

photo credit: haydnseek

In today’s economy many businesses are finding themselves in financial disaster fighting everyday just to barely get by. So what are your options these days when you find yourself in this situation? Here are a few options that I read about recently on USA Today that I think could help you out a great deal.

Try negotiating with your bank and creditors. Even they are finding themselves in quite the pickle with so many delinquent accounts and even worse, accounts that went through bankruptcy that they now have to totally write off their books, no money for them! So use their situation to your advantage, let them know either you will be going delinquent soon or you will have no choice but to file for that dreaded bankruptcy, see what they will do for you.

Sell as many of your business assets as you are legally allowed in order to pay off some or most of your business debt and then either sell the building to another private owner, or go into a bankruptcy deal. No, filing bankruptcy is not the best option and is not easily swallowed by most people, but sometimes after attempting all of your options, this may be the only thing left for you to do.

This is one of those times when you really need to meet with your advisers to figure out the best way to go. Getting a consultation with an accountant, business or bankruptcy lawyer will be well worth the money.

From Business Opportunities Weblog.