Build your list with permission to increase your open rate

Steve Robinson Area Director for Constant Contact will be presenting at our Drawing Web Traffic program on December 14th.  Here is a tip from Steve.

+++++++++++++++++++++++++++++++++++++++++++++++++++++

One of the most important factors in successful email marketing is to build your list with permission.

Your list should contain only those customers and prospects that want to receive your message.

If you focus on asking people if they want to be on your list before you add them, you will be rewarded with better open rates, less people opting out, and fewer spam complaints.

Register for the program at:  http://bit.ly/DrawWebTraffic2

Using Personal Savings is the Norm for financing a new business

From a Kauffman Foundation Study – November, 2009
++++++++++++++++++++++++++++++++++++++++++++++++++++

Using Personal Savings is the Norm, Venture Capital Comes to the Experienced, and Friends and Family are Always There.  The average number of companies started by the company founders in our sample was 2.3 and 41 percent were running their first businesses.

We analyzed the sources of funding for the businesses started by the serial entrepreneurs:

• The most significant source of funding for all businesses was company founders’ personal savings: 70 percent said they had used personal savings as a main source of funding for their first business, more than four times the number chiefly financed by any other type of funding.  Even in subsequent startups,  more than half of the entrepreneurs relied on their personal  savings.

• Venture capital and private/angel investments play a relatively small role in the startups of first-time entrepreneurs, but the percentage who took venture and angel funding increased with subsequent business launches, with 26 percent and22 percent, respectively, of entrepreneurs’ most recent startups receiving such funding.

• Friends and family provided funding for 16 percent and banks provided funding for 16 percent of the respondents’ most recent startups. Corporate investments played the major role in 7 percent.

For help on your business plan, please see our website www.scorechicago.org

Funding for your business – Think about Family – News Report recorded at SCORE Chicago

We have had a number of news stories produced at SCORE Chicago in the month of November.  This one recorded at our Going Into Business workshop focused on two entrepreneurs who are looking toward family money to help fund their business.

SCORE Chicago has many workshops to help small business.  Click here for more information.

Marketing and Selling Workshop Helped with Starting New Business

Comments from  two attendees of a SCORE Chicago “Marketing and Selling Workshop”  Information about this workshop is at: http://bit.ly/MarketingSelling

Alan,

Last week’s marketing class at SCORE was a great primer for folks like
me looking to launch a new business!

The spirited end-of-class discussion with Lauren put all the pieces
together, helping a classmate put together an action plan to
understand the needs of her targeted high-end salon customers and
employees.

Thanks again!

Paul Stark
B2B Marketing Consultant

++++++++++++++++++++++++++++++++++++++++++++++++++

I attended the SCORE “Marketing and Selling” workshop on Friday and enjoyed the presentation and met some very interesting people. I signed up for the entire core series and will be attending the Finance workshops next week. My goal is to complete the entire series of six this month and obtain my SCORE small business certification…….

My head is spinning for I have so much to do, yet I am an excellent planner and plan executor, so all will be well. I also have the assistance of you (sic SCORE Counselor) and SCORE.

Rosalyn Carlton

Tough Times – Is It Smart to Buy a Franchise Now?

This blog post was prepared by Gerald P. Moriarty.  He will teaching a workshop on November 9th at our downtown SCORE location.  ……………….

While some economists say there are some signs of the economy starting to improve, almost all agree that we may be heading for a jobless return to an improved economy.  I counsel many middle and senior managers from large corporations, and they are universal in their views that the job market is extremely tough. Sixteen and eighteen month searches are common.  Then they learn from colleagues that the tenure of jobs they have is hovering around the three year mark!

Two years ago, Fortune magazine published a very sobering article titled Permanent Vacation.  It described the growing practice of large corporations to thin out the ranks of their 50 year old plus executives and managers.  Then, say, a 52 year old executive faces a tough job market, and even if he is fortunate  enough to get a new position, there is a good chance he will be looking again at age 55 or 56.  The pickings are even slimmer, and if he is not lucky, then he is on “permanent vacation.”

Business ownership is one way to gain control of a business career.  Franchise business ownership may be a safer and more profitable way to gain that control, provide a nice revenue stream, and even build equity over time. Franchises are strictly regulated by both federal and state laws. The regulators require each franchisor to register critical information about the franchise with them, and then give that same information to the candidate in a book called the Franchise Disclosure Document (FDD).   Included in the FDD is the number of openings, closings, and transfers of the franchise units, by state, and for the last three years.  Also included is the most recent contact information for any ex-franchisee who has left in the last year.  So, due diligence will reveal how “safe” the business is. If the candidate targets “recession resistant” franchises, he may spot a franchise that is both safe and profitable.  Some “recession resistant” franchises include hail salons, property restoration companies, health clubs, business coaching, business expense reduction companies, appliance repair, auto service, temporary help agencies, tutoring companies and many more.

To Register for the workshop: https://s08.123signup.com/servlet/SignUp?PG=1522055182300&Info=&P=1522055191158067000

Segment your marketing and sales efforts to be successful

Sharon Aby says there is no such thing as a universal market.  Sharon discusses a client situation where that client wanted expand from the consumer marketplace to the commercial market.

She highlights that your sales and marketing process for one market is different than another market.

Picking a name for your business

Picking a name for your new small business is a challenge for many people starting out.   Here is a short video from an interview with Brian Fons of Corporate Creations.  Brian discusses items such as trademarks and copyrights.   He provides insights into certain naming conventions that will help you best position your business name.

Getting good sales leads at a trade show

For small business, exhibiting at a a trade show can be a major expense.  Give aways are often seen as a great way to get leads.   Here’s a short video about using a fish bowl to gather prospects.  Matt Heinze from GES Exposition Services suggests that you think  quality and maybe not quantity .

What is an internet domain?

This is part of a series of video on our YouTube Channel.  http://www.youtube.com/user/ScoreChicagoVideo . These videos are excerpts from a live call in TV show.  In this excerpt Jacob Cynamon discusses the internet.  He provides some insights on getting started.

Many ways to get Answers from SCORE Chicago

First, you can work with a SCORE Counselor. With over 100 counselors in the chapter, you have access to experts in many skill areas and numerous industries.  We can also arrange Spanish speaking or women counselors.

SCORE counselors are successful executives and business owners who can help you on a wide variety of business issues like financing, marketing or importing. They have volunteered their wisdom and experience to help you at no cost.

They can work with you as you write and refine your business plan.  Once you begin a relationship with a counselor, they can become your Mentor, working with you over time to build your business from idea to startup to growth.

To make an appointment for counseling.  https://www.securedata-trans5.com/ap/score/index.php?page=10

Next, you can attend our workshops.  We offer executives with a wealth of expertise and experience in many industry segments. Many workshop presenters are SCORE counselors who have achieved success in their field and now, as volunteers, want to help you do the same.   Additionally, we have workshops taught by industry experts, instructors who are also executives, active in their business today.

One workshop attendee stated “As I near completion of my MBA program, the skills that SCORE workshops provide me with, are every bit as relevant and beneficial as my classroom studies.”

Information about workshops are available at: http://www.scorechicago.org/sub_category_list.asp?category=10&title=Business+Workshops

You can visit us in the Media.  If you live in the City of Chicago, you can watch us in the Winter and the Summer on the Hotline Show of CANTV 21.  This show features guests covering many topics of interest to small business.  Recent programs have addressed the Obama Stimulus Plan, Trade Show Marketing, and Business Plans.  The show has aired live interviews with entrepreneurs in retail, software and construction.   To check out the CANTV Schedule, please visit the Hotline website. http://www.cantv.org/hotlineschedule.htm

For those of you not in Chicago, you can watch these shows on BLIP.TV. Each CANTV show is posted as an episode in this web environment.  You can access this show at:: http://scorechicagocantv21.blip.tv/

Individual answers and insights are available from our YouTube Channel,  SCOREChicagoVideo and our Blog postings at LearnedatSCORE.

The YouTube http://www.youtube.com/user/ScoreChicagoVideo channel contains, for the most part, edited segments of the CANTV21 series.  Rather than watching the entire 25 minute show, searchers can find individual answers to business questions.  Recent posting answer such questions as “What Behaviors make a good salesperson?”  or “How to get stimulus funding for your business”.  Video content touch such topics as picking a banker, getting loans, writing business plans, even, tips about international business.  Obtain 1 to 3 minute insights from entrepreneurs who have been there.

The Blog, LearnedatSCORE http://learnedatscore.wordpress.com/ contains insight and comments about small business.  There is a mixture of content.  Postings about SBA programs are available.  Updates from counselors and clients provide information about marketing, sales, accounting, business plans and internet  issues.

You can stay in touch with SCORE Chicago through our website. www.scorechicago.org.  Also, we are on Twitter www.twitter.com/scorechicago.  Many people keep informed by joining our email list.  http://www.scorechicago.org/sub_category_list.asp?category=46&title=Newsletter+Sign+Up