Check out Four Alternative Lending Options for Entrepreneurs...

There is much talk these days about the rise in alternative lending sources since the credit crunch really started to squeeze small businesses in late 2008... here is a great explanation of four of those alternatives...

Four Alternative Lending Options for Entrepreneurs

www.smallbusiness.foxbusiness.com
Published August 14, 2012

When the credit crunch begain in late 2008, traditional banks tightened the spigots on funding for small businesses. When the big banks said no, small banks and non-bank lenders increasingly said yes. While big banks reject loan applications almost nine out of ten times, and smaller banks approved less than half of small business funding requests, alternative lenders filled the void.

According to Biz2Credit Small Business Lending Index (figures for the July 2012), big banks (insitutions with more than $10 billion in assets) approved 11.3% of small business loan requests, while smaller banks gave the green light to 47.4%. Meanwhile, non-bank lenders picked up the slack. Credit unions approved 54.6% of requests, while alternative lenders, such as Cash Advance Network (CAN) and accounts receivable financers, okayed 61.4% of requests for funding from small companies.

So who are the alternative lenders? They are comprised of non-banks, such as credit unions, CDFIs, micro lenders and accounts receivable financers.

To read a full explanation of each alternative lender... click here to read the full article.

Great news for the craft beer brewing industry... continued growth!

Brewer's Association Reports 2012 Mid-year Growth for U.S. Craft Brewers

www.brewersassociation.org
Boulder, CO  *  August 6, 2012

Dollar growth up 14% in first six months of 2012; Total brewery count hits 125-year high

The Brewers Association (BA), the trade association representing the majority of U.S. Brewing companies, has released strong mid-year numbers for America's small and independent craft brewers. Dollar sales were up 14 percent in the first half of 2012, while volume of craft brewed beer sold jumped during that same time period.

Barrels sold by craft brewerd for the first six months of 2012 are an estimated 6.0 million barrels. Despite a number of challenges, including decreased overall beer sales, the mid-year numbers show signs of continued growth for craft breweries. The industry currently provides an estimated 104,000 full-time and part-time jobs, contributing significantly to the U.S. economy.

To read the full article... click here.

Check out Top 5 Social Media Fails from Inc.com

If your business keeps you  busy like mine does me, then you hardly have time to learn let alone utilize social media effectively... and the last thing you want is negative impact from it... here is a great article from Inc.com that gives you just a few things that you can concentrate on to upgrade your social media strategy.
- Business Sherpa

Top 5 Social Media Fails

Think you're pretty great at Twitter? A pro at Facebook? Fact is, your social media strategy could use an upgrade. Here are five ways to fix the little things you're messing up.

The White House does it, the world's biggest media outlets do it, and your business looks out-of-date without it: Social media. And it's widely beloved for providing some of the best word-of-mouth style maketing just a bit of money can buy.

To read the full article... click here.

Interesting... "10 Things Food Trucks Won't Say" by SmartMoney.com

Great article about the food truck phenomena...

"10 Things Food Trucks Won't Say"
SmartMoney.com
By Jonelle Marte
August 1, 2012

What's not on the menu at mobile eateries...

1. We're not supposed to be here.
2. You're favorite restaurant hates us.
3. We're not all held to the same standards.
4. I don't have a license.
5. It's not the cleanliness of the truck that should worry you.

To find out the other 5 things food trucks won't say, and see the details on all ten , click here to read the full article.

Check out 7 Silly Myths About The Economy, Jobs, Taxes & Small Business...

Posted on Inc.com, July 18, 2012
By Gene Marks

7 Silly Myths About the Economy, Jobs, Taxes & Small Business

America's Got Talent is the No. 1 show. Spider-Man is the No. 1 movie. Call me Maybe is the top song in the country. Who's the most popular guy in Washington D.C.?

Why, me! The small-business guy. Everyone's buzzing about me. That's because I represent more than 20 million others who are supposedly just like me. According to the National Federation of Independent Business, my confidence is down. Oh, no! But don't worry! The President and Congress are battling over ways to help me succeed. Hooray!

I appreciate everyone's concern. And I certainly love the attention. But, really, I don't want to waste your time. My technology company has 600 small business customers. And I agree that I probably don't have the right to speak on behalf of the other 19,999,400 small businesses in the country. But then again, why not? I know that small businesses will be an important part of this year's election. We're already getting a lot of attention from the media. So let me help explain a few things. And put to rest a few silly myths about us.

Silly Myth #1: Small Businesses collectively oppose higher taxes....

To read the full article, and find out the other 6 myths and their explanations... click here.

Check Out Questions Business Owners Ask Me and the Answers I Give Them

Great article by Loren Marx Schmerler put out by the Business Brokerage Press...

Posted @ 6/28/2012 9:13 am

Throughout my years of successfully assisting business owners in selling their companies, I've been asked the same questions by many potential sellers. In this article I have compiled a list of common question about selling a business along with my answers that you may find helpful.

1. How much is my business worth?
2. How long will it take to sell my business?
3. Is there anything I can do to make my business more desirable?
4. Is there anything I should not do during the listing period?
5. What is due diligence?
6. What else do you suggest I do to impress a Buyer?
7. What happens if I agree to do some owner financing and the Buyer misses a payment?

To read the answers Mr. Schmerler gives to the above excellent questions... click here.

Check out Starbucks Initiative to Brew Up U.S. Jobs through small business lending

A Starbuck Initiative to Brew Up U.S. Jobs

Posted by Michelle Goodman
Entrepreneur.com, January 2012

For little more than the price of a latte, the average American can help finance a new business startup. That's the premise behind Create Jobs for USA, the brainchild of Starbucks founder and CEO Howard Schultz. Through the program, every $5 donated at a Starbucks location or through CreateJobsforUSA.org supports $35 worth of small-business lending.

To get these funds directly into the hands of business owners, Starbucks partnered with Opportunity Finance Network (OFN), a collection of 180 Community Development Financial Insitutions (CDFIs) that specialize in lending to low-income and disadvantaged indiaviduals and underserved communities throughout the nation.

To read more about this great initiative of Starbucks... click here.

Check out this article with great tips for LinkedIn

7 Things You're Doing Wrong on LinkedIn

By Tom Searcy
EXPLOSIVE GROWTH, INC.COM
Jun. 27, 2012

Today, LinkedIn is the No. 1 social media platform for professionals. Estimates of professional participation in LinkedIn are as high as 83%.

But when I talked to one of my friends -- social media expert Alexandra Gibson from OttoPilot Media -- she told me that she sees too many professionals making a lot of mistakes...

Click here to read the full article and see the seven mistakes and how to rectify them.

Check out Inc.com article: Small Business' Real Problem with the Banking System...

"Increased regulation of bank lending still needs to allow for measured risks that permit sound small businesses to receive funding needed to thrive."

Read the full article at Inc.com., In The Trenches, written by Vanessa Merit Nornberg. Vanessa recounts her experiences with financing for her small business start up, Metal Mafia. Interesting and insightful take on the current climate for credit availability for small business.

Click here to read the article.

Check out Blue Maumau's 2012's Best 10 Franchises to Buy...

2012's Best 10 Franchises to Buy, Least Loan Defaults

By BMM, www.bluemaumau.org
Sat 2012/06/16

Knowing a franchise's bottom line and the ability to get a return on investment is the holy grail for a franchise investor. That's no easy feat. What Blue MauMay has been able to do is to find chains that franchisees are healthy enough with their earnings to at least pay back their loans more than other brands. So here are the ten best franchise brands in which franchisees have enough staying-power to pay back their lender.

To read the full article and see the top 10 best, and a link to the default rates of various franchises, click here.

Check out this WSJ article: Migrants Keep Small-Business Faith

WSJ.com
SMALL BUSINESS
Updated June 13, 2012

Newcomers to U.S. Are Increasingly Opening Firms Beyond Major Cities, Energizing Local Economies

By Miriam Jordan

Immigrants are more inclined to own small businesses than native-born Americans and are increasingly opening shop in areas beyond the major cities in which they have traditionally settled, a trend that is energizing local economies and reshaping communities.

Immigrants accounted for 18% of the country's $4.9 million small-business owners in 2010, a six-percent increase from two decades earlier, according to analysis of census data by the nonpartisan Fiscal Policy Institute. Immigrants, who represent 13% of the population, accounted for a third of the increase in the number of small-business owners between 1990 and 2010.

Check out this great article... When Reducing Barriers Leads to More Failed Businesses.

By Scott Shane
The Journal of the American Enterprise Institute
Wednesday, May 09, 2012

While you get more business formation if you reduce the barriers to starting companies, you don't necessarily get more successful entrepreneurship.

To read this insightful article... and Mr. Shane's great take on the recent comments from Mitt Romney and the Obama reaction... click here.

"Romney's logic is sounder than the president's. Allowing entrepreneurs to keep more of the profits from running their own businesses provides an incentive to overcome obstacles, like a lack of capital. If you tax entrepreneurs heavily, you reduce their incentive to overcome these obstacles and make them more likely to close down their companies."

Check out "Top 10 Reasons Small Businesses Fail" from the New York Times

Top 10 Reasons Small Businesses Fail
By Jay Goltz
New York Times, You're The Boss
January 5, 2011

One of the least understood aspects of entrepreneurship is why small businesse fail, and there's a simple reason for the confusion" Most of hte evidence comes form the entrepreneur themselves.

I have had a close-up view of numerous business failures - including a few start-ups of my own. And from my observation, the reasons for failure cited by owners are frequently off point, which kind of makes sense when you think about it. If the owners really knew what they were doing wrong, they might have been able to fix the problem. Often, it's simply a matter of denial or of not knowing what you don't know.

To read the full article and see the top 10 reasons, which might surprise you... click here.

Hey all, check out "7 Ways to Finance a Small Business" from BusinessNewsDaily

7 Ways to Finance a Small Business
By David Mielach, BusinessNewsDaily Staff Writer
Nov. 30, 2011

The road to starting a successful business can be a long one, filled with many hurdles and obstacles along the way. Even if you have a great business idea, no business can succeed without a financing plan. While the process may sound daunting, there are many small business financing options for anyone thinking of starting their own business in 2012.

• Small Business Administration Loan
• Friends and Family
• Home Equity Loan
• Credit Cards
• Angel Investors
• Venture Capitalists
• Strategic Investors

To learn more about each option, including advantages and disadvantages... click here to read the full article.

Check out this great article from nightclub.com

VIBE newsletter
www.nightclub.com

Mimi's Cafe's Value Revolution
By: Alissa Ponchione
November 14, 2011

When it comes to happy-house specials, every operator thinks their happy hour is not only the best but also offers the most value. However, the executives at Mimi's Cafe claim that theirs is the happiest. Launching its "Happiest Hour" promotion, the Irvine, Calif. based Mimi's Cafe is offering small bites and wine flights every day of the week. Chief Concept Officer Mark Mears says taht at 145 locations, guests will be offered delicious treats and drinks - all part of Mimi's Revolution strategy.

To learn more, read the full article... click here.

Check out A 'Match.com' fr entrepreneurs and lenders from crainsnewyorkbusiness.com

crain's new york business.com
By: Elaine Pofeldt
October 18, 2011

BoeFly aims to aid businesses disappointed by their banks, but there's new competition in this financial services niche.

The Company: BoeFly
What it Does: It's an online marketplace matching small business borrowers with lenders around the country.
How's It Doing: Founded in 2010 by two finance industry veterans, the Manhattan-based site is generating nearly $150,000 in revenue a month. It has raised $4 million from private investors. The founders expect it to become profitable in 2012.

To learn more about BoeFly... read the full article... click here.

Check out Best Practices: Six Steps to Effective Facebook Posts from Nightclub & Bar

Business Sherpa: "Hey check this out bar owners - this is a great article on using Facebook to increase traffic and revenue to your bar!"

VIBE Newsletter
www.nightclub.com
October 17, 2011
By: Dave Dronkers

According to Facebook, more than 1 billion pieces of content are shared on the social networking sites each day! This presents a huge challenge in trying to get Facebook visitors to engage with your brand and your beverage program.

How have some restaurant companies figured out how to move from "broadcast" mode into "engagement"? How have they engaged people so well that their fans invite others along for the viral ride? You and your team may or may not be directly involved in social media marketing, however, it's important to understand how to execute it properly so it reaps the greatest rewards - traffic and sales - for your drink program.

To learn more, read the entire article... click here.

Check out "Five Ways to Go From Owner to Employee"

This blog article by Sarah Needleman at The Wall Street Journal (WSJ.com) is a must read if you are planning to sell your business at any point in the future.
Five Ways to Go From Owner to Employee

If you're planning to sell your business, you may need - or even want - to stay with the company for a while afterward as an employee. But without careful planning, transition can fall flat.

In one extreme example, Michael Arrington announced on Monday he was leaving the technology blog he founded in 2005, TechCrunch, a year after its sale to AOL for $30 million. He initially remained with the publication as its editor but in recent weeks tension mounted between Mr. Arrington and AOL, resulting in his departure. (For more, please read Founder Departs TechCrunch Blog Over Spat with AOL."

Here are five ways to ensure a smooth transition from business owner to employee, according to Needleman's blog...

- Address conflicts of interest
- Put your ego in check
- Anticipate big changes
- Set a termination clause
- Request a board position and equity

To read the full article and more detail on each way to smooth transtion, click here.

Check out "The hottest spots across the country for starting a new business"

"Indianapolis made it onto the list... check us out!"  Larry

Where the Action Is
Across the country, new industry hubs are drawing entrepreneurs and investors - and offering start-ups support and safety in a turbulent economy

The Wall Street Journal
WSJ.com, August 22, 2011
By Emily Maltby

Location Matters.

It's a lesson that's all too easy to forget in a world driven by mobile devices, cloud computing and home offices. There are big benefits to setting up shop in the right spot - especially among lots of peers in the same field.

Just ask sports-gear makers in Ogden, Utah. Or health-care companies in Nashville. Or nanotechnology researchers in Albany, N.Y.

These cities, and others like them across the country, have become hubs for specific industries. Entrepreneurs are moving there and flourishing  in the teeth of a bleak economy. The cities, in turn, are nuturing the entrepreneurs by giving them access to funding, mentors and facilities.

All in all, these clusters can be ideal spots for an entrepreneur in the field. Being there means getting access to a much wider range of suppliers, customers, employees and industry experts. What's more, industry peers are often willing to support each other as they get off the ground, sharing recommendations about staffers, potential sales leads and attractive office space, or giving each other guidance and insight about the industry...

The article continues and gives a look at seven up and coming innovative centers. Indianapolis is listed first, as a Life Sciences center... read the full article to learn more. Click here.

Check Out "Buying An Established Business"

Check out this great article by The Wall Street Journal... it aptly summarizes the reasons that purchasing an existing business is sometimes better...

By: Sarah E. Needleman
July 31, 2011
Accidential Entrepreneur, WSJ.com

Last year, Mark Shelstad set to become his own boss after concluding that his portfolio-manager job had become unstable. But instead of trying to build a company from the ground up, the Chicago-area resident began searching for an existing one he could buy.

"I didn't have a creative idea worthy of starting a business from scratch," says Mr. Shelstad, who is in his mid-50s. Also, "I wanted to get up and running quickly due to my age."

After a few months of research and negotiations, Mr. Shelstad earlier this month purchased a 23-year-old lending-fraud investigation firm, which he renamed Armitage Investigative Services. He used a combination of personal savings and a five-year loan form the seller to cover the purchase price of more than $1 million.
If you're interested in entrepreneurship, but lack ideas or time to create a new business, buying an established company may be a wise alternative. You'll inherit a working infrastructure complete with resources you'd otherwise have to secure on your own, such as equipment and employees. You'll also ideally be taking over a known brand built on a positive reputation over many year's time.

To read the full article... click here.