Archive for November, 2011

Is Entrepreneurship Calling?

Written By Alerus Small Business Connect, November 30, 2011

There is a gamut of reasons for why people start their own businesses: to be their own boss, to have more flexibility, to pursue their passion. Unfortunately, the majority of small businesses have one thing in common: they fail.

With all the “experts” and advice available today at the click of a mouse or an afternoon of perusing the local library or bookstore, why do so many new businesses fail?

In a recent column in The New York Times, Jay Goltz (who owns five small businesses himself), outlines three reasons:88348977

  • Many entrepreneurs learn to build a business the way some people learn to swim; they just jump in.
  • Not everyone is wired to be an entrepreneur.
  • Entrepreneurship is about risk

Dive deeper into Jay’s article and learn how you can avoid becoming a “my small business failed” statistic by:

Going into business for yourself can be dicey. Do your homework and make sure it’s the right thing for you. Learn from folks who are succeeding. And if entrepreneurship is still calling, answer the door and go for it!

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Small Business Saturday: Make the Most of It!

Written By Alerus Small Business Connect, November 23, 2011

The second annual Small Business Saturday® – coming this Saturday, November 26 – is a day dedicated to supporting small businesses on one of the busiest shopping weekends of the year. Shoppers are asked to help fuel the economy and “Shop Small” at their favorite local stores.

When we all shop small, it’s huge.

small_business_saturday_2011November 27, 2010 was the first ever Small Business Saturday. More than 200 organizations have already joined American Express OPEN, the company’s small business unit, in declaring the Saturday after Thanksgiving as Small Business Saturday.

If you’re not already part of the movement, it’s not too late! An array of free tools, in-store signage and e-marketing materials for promoting your business, as well as tips for creating and sharing special offers over social media channels, is available here on Facebook.

You can rally your customers to support you through a number of ways:

  • Create a Facebook Business Page
  • Create a Video
  • Get Followed
  • Get Your Buzz

Take a few minutes and check out Small Business Saturday for more details. This movement is anything but small! And while you’re at it, don’t forget to check out the B2B Network right here on Small Business Connect!

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There’s Still Time: Gear Up for Black Friday … and Beyond

Written By Alerus Small Business Connect, November 21, 2011

Black Friday and Cyber Monday are just around the corner. If you think it’s too late implement marketing efforts to make the most of the holiday shopping season, think again!

From last-minute tips for effective holiday mobile marketing to 60 social media marketing tips for the holiday season (yes, 60!) to holiday marketing mistakes to avoid (think existing customers), there are still oodles of ways to help you make the most of the holiday shopping season.

Here’s a rundown of the resources that have been corralled into one spot for you:stk84107cor

  1. Holiday Season Countdown Kickoffs for Online Marketers
  2. Five Ways to Gear Up Your Marketing for the Holiday Shopping Season
  3. Spreading the Online Christmas Shopping Cheer
  4. Ramping Up Online Campaigns for the Holiday Season
  5. Smart Marketing Tactics to Increase Sales This Holiday Season
  6. Holiday Season Small Business Online Customer Service: Just Do It!
  7. Setting Expectations with Your Customers this Holiday Season

So, grab a cup of coffee, peruse through the entire list of ideas on growing your business during this holiday season, implement the tips that work best for you, and get ready. More business is certainly coming your way!

Information was compiled from an article that first appeared in Matt About Business and other online sources.

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Business apps—what role do they play in your organization?

Written By Alerus Small Business Connect, November 18, 2011

Just how important are mobile apps when it comes to operating your small business?  Business News Daily, recently dug into a survey from the Pew Research Center and found that fully half of U.S. adult cell phone users now have apps on their mobile devices.

Topping the list of most downloaded apps are categories such as news, weather and stock information. (Angry Birds may well have topped the list, but gaming apps weren’t measured in this survey.)  With the popularity of apps skyrocketing, two questions emerge:

1314048601. What are the best apps for operating my small business?

Inc. runs through some of its favorites, specifically for iPhone. And for Android users, Sprout gives its recommendations. Many banks are also offering applications much like—Alerus Mobile Access, our own free download for 24/7 access to your accounts.

2. Should I have an app for my customers?

That depends. App developer Adam McNamara advises, “Apps should help you build revenue or they should build user engagement.” If not, he recommends you skip it. If you think an app might be right for you, Fox Business offers more insight.

The Pew research also shows that 46 percent of app downloaders are willing to pay for their apps, but not much. More than half said their top price for an app was $5 or less.  What apps do you find helpful?  Are you willing to pay for them?

Information was compiled from an article that first appeared in Business News Daily and other online sources.

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How to Create a Memorable Customer Experience with Social Media

Written By Alerus Small Business Connect, November 16, 2011

There’s an old customer service adage that goes something like this: when a customer experiences great service, he or she may tell one or two people. When a customer experiences bad service, he or she will tell 10 people. At least.

Now, think of that adage as it relates to social media. Praise travels at a speed that can make your head spin. Somehow complaints seem to travel even faster.

So, what can you do to ensure that you can create a memorable customer experience on social media? What can you do to turn a customer’s frown upside down?

Here are seven guidelines:social media tree

  1. Give Your Customers a Place to Talk
  2. Integrate Social Media Into Your Customer Service
  3. Activate Your Existing Customer Base
  4. Be Proactive
  5. Reward Influencers
  6. Create Compelling Content
  7. Stand Out From the Crowd

Dig a little deeper into the guidelines, and you’ll be on your way to making memorable customer moments with social media.

Looking for other tips to improve your customer loyalty?  Check out these related articles:

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Cybersecurity: Take it Seriously!

Written By Alerus Small Business Connect, November 10, 2011

New research indicates that small business owners seem to think that their companies are safe from hackers, viruses, malware and more.

According to a survey of more than 1,000 U.S. small businesses by Symantec and the National Cyber Security Alliance (NCSA), a large majority of small business owners believe their company isn’t at risk.

Yikes.

securityDive into the study a bit more, and it’s reveled that most small businesses lack sufficient cybersecurity policies and training. Nearly 80 percent of those surveyed said they lack a formal written Internet security policy for employees; among them, half said they don’t even have an informal policy.

Still think that hackers don’t go after small businesses? Think again.

Previous Symantec research found that 40 percent of all targeted cyberattacks are directed at companies with fewer than 500 employees.

In 2010, the average annual cost of cyberattacks to small and medium-sized businesses was just under $190,000. What can a cyberattack do to a small business? Statistics suggest that roughly 60 percent of small businesses close within six months of a cyberattack.

So what do you do? Take cyberattacks seriously. Very seriously. Adopt strong protection of passwords and wireless networks; use multifactor authentication that requires more than a password and login to access any of your networks. Check out this list of the 2011 Best Small Business Antivirus Software Comparisons and Reviews. If you don’t already have a reputable antivirus software, get one. Pronto!

Information compiled from an article that first appeared in Business News Daily

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November Economic Insights

Written By Dr. David T. Flynn, November 8, 2011

The new reality of business means that companies need to be ever-more aware of macro economic events and assess the potential impact these events have on their own day-to-day operations and long-term plans.

Download the PDF: Alerus Monthly Insights: November

Overall assessment: It was a somewhat brutal end to the third quarter, as financial markets fell, solutions in Europe remained elusive, and little substantive progress was apparent on the domestic front.  The beginning of the fourth quarter continues to display inconsistency in economic performance, with decent retail sales numbers but poor consumer confidence numbers.  Weak growth continues to be the new normal, and unemployment continues to remain persistently high.  The deficit reduction committee appears to be making little progress, raising the specter of a return to political gamesmanship over spending taxes at the end of this year.

Alerus Economic Insights: November

Data and the related opinions have been compiled by Alerus Financial’s strategic information partner, Dr. David T. Flynn.

Dr. David T. FlynnDr. David T. Flynn is an Associate Professor of Economics and Director of the Bureau of Business & Economic Research at the College of Business & Public Administration, University of North Dakota. Dr. Flynn has developed forecast models for personal income and employment in North Dakota, and analyzed small business location patterns for the top 200 cities in North Dakota. His commentary on the North Dakota economy has appeared in print and online publications such as BusinessWeek, NewsWeek, American Banker, the Financial Times, the Wall Street Journal, and in newspaper and magazines from the United States, Brazil and Finland. Dr. Flynn is a member of the International Institute of Forecasters, the National Association for Business Economics, and many other professional organizations

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Is an All-In-One Computer For You?

Written By Alerus Small Business Connect, November 3, 2011

All-in-one computers: what once seemed like the latest and greatest thing in technology are now commonplace. They have, of course, improved with time: touch screens, cheaper, better designed and more powerful. Lots of common names make them: HP, Dell and Acer, for a few.

Is an all-in-one computer right for your business? Consider this:

1. They’re space savers. Many small businesses are tight on space. With an all-in-one computer, there’s no separate tower, which can be a bulky space hog. Notebook and laptop computers are great for mobile staff, yet if you’re at your desk for hours at a time, you’ll most likely want a bigger monitor and a full-powered computer.

2. Their touch screens can improve communication. Most all-in-ones have touch screens built to impress, and their functionality can help improve interactions between you, the computer and your customers, partners, vendors and more. For example, a touch screen is much more inviting than a mouse or keyboard when it comes to a product demo or a training session.

Beyond running traditional Windows programs (like watching a video or your accounting program), custom software can be created for your specific industry. Imagine this: your bakeshop wants to enable walk-in customers to choose a cake and its decorations through the touch screen of your all-in-one computer. That’s cool.

3. They’re good looking. Today’s all-in-one computers are skinny and svelte. With many industries – think hotels, banking, medical clinics or hospitals – you might need to have a computer in a public place. Instead of a system with multiple components, a one-piece, touchscreen computer can help make your lobby, reception desk or other public place look much, much better.

The all-in-one is a competitively priced option for business owners who want a great-looking computer (that may or may not include a touch screen). Regardless of what sort of computer you purchase, adequate memory and hard-disk space are paramount. Monitor size can make or break the deal as well.   When the time comes to replace or upgrade your computer, what make and model will you choose?

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