National Federation of Independent Business’s Optimism Index made a small but notable gain, settling at 93.8 for December.  Business optimism increased four times since September, ending 2011 on an up note.  Read the complete article here.

mepainter

Charles Lindemuth, painter, illustrator, innovator and entrepreneur visits Getting Down to Business® and talks about how he makes a living as a fine arts painter.  Moving from canvas and brush to a digital art form was a natural step for Charles. Listen as he talks about that process and some of his creations such as “mepainter.”

Business Risk Management

Chis Pobieglo, business insurance expert with Business Insurance Associates, is joined by his business partner and wife Angie to talk about the “Risk of Serving.”  That’s right, the local board you voluntary serve can cause you financial distress.  Find out more as Chris and Angie talk about Directors and Officers (D&O) insurance.

Listen or download below:

Me, Painter

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Dave discusses the latest “Optimism Index” which was up 1.8 point in November, settling at a still weak 92.0, according to the National Federation of Independent Businesses (NFIB).  Read the complete article.

The Journey of Publishing

Kelly Fisher– attorney, author and publisher– visits Dave on this program.  Listen as Kelly discusses how he came to write his new book A Clueless Man’s Guide to Relationships.  The story doesn’t end there.  The easy part was writing the book; creating a great end product and introducing it to the world takes more effort.  Kelly takes us through his journey.

Business Risk Management

Listen as Chris Poblieglo, insurance expert, talks about Fidelity Bonds.  Find out much, much more about this potential business risk and a solution.  Visit Business Insurance Associates’ website - a must link for business risk management information.

Listen or download below:

The Clueless Man

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A business incubator called VETransfer provides free mentoring and facilities to military veterans who start their own businesses.  The program is funded by the Department of Veterans Affairs and has a waiting list for their services.  Listen as Dave discusses the WSJ article.

SBA 504 Loan Program

When you need to get a job done right, the correct tool works best.  Listen as Barbara Gill, VP & Senior Loan officer with Evergreen Business Capital, describes the SBA 504 loan program.  If your business needs a new location, land, buildings or even leasehold improvements, financing with the 504 program maybe the right tool for you.

Go it Alone

Listen as Geoff Burch discusses the bargaining process and its potential negative impact in sales. Chapter 17 of Irresistible Persuasion provides great advice.

Listen or download below:

More Than Bricks & Mortar

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Even with 14 million people unemployed, 40% of small businesses complain about the dearth of qualified workers. Listen as Dave talks about a pressing problem for employers.  Read complete article at the Wall Street Journal.

Credit & Business Lending

Dave’s guest is Bill Cessnun, VP Commercial Loan Officer with Northrim Bank– a Alaskan community bank.  Listen as Bill talks about making a credit decision during the business lending process.  Bill provides great information to Dave and his listeners.

Go it Alone

Alice in Wonderland meets a Cheshire Cat at the beginning of her journey.  Listen as Geoff Burch explains how “measuring success” ties in to Alice’s journey. Intrigued? Listen to the show!

Listen or download below:

Through a Banker’s Eyes

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September was our final issue of Business/News & Views®-- but don’t worry! We have a great new eNewsletter venture for next month. Read all about it in Dave Weatherholt’s editorial, “Last Issue of Business/ News & Views.”

Then read Dave’s Economic News Summary (although you probably won’t enjoy his conclusions, it’s important for every business to understand the direction our economy is heading). Regain some of your optimism with Amanda Cullen’s marketing article, “Be Good, Businesses” and out IT article about stubborn PC problems you can fix.

Read the newsletter: Business/News & Views®- September 2011

Subscribe to the Newsletter

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I’m tired of dour economic news, and I bet you are too. My latest Business/News & Views® article, Wealth Creation the American Way, starts out as a book review for An Empire of Wealth and ends by championing the American way of getting things done. If we follow America’s founding principles, we can put this down economy behind us!

Read the full article: Wealth Creation the American Way

Subscribe to the Newsletter

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Bill Dunkelberg, economist says, “Between the deluge of new regulations and a Washington policy agenda that is largely ignorant of Main Street needs, stubbornly low consumer spending, and grave concern among small firms about the federal budget, there is not much to be optimistic about as a small-business owner.”  Listen to the Getting Down to Business analysis.

Starting a restaurant with Crush Wine Bistro & Cellar

Chris Pobieglo sitting in for Dave talks with Anchorage entrepreneur Chad Culley one of the founders of Crush Wine Bistro & Cellar talks about starting a restaurant. Listen as Chad talks about employees, team building, customers, the economy, and what wakes him up at 3:00 am. For more information go to www.crushak.com

Go it Alone

Listen as Geoff Burch, bestselling author in business discusses the “Show Business” element in sales from his latest book Irresistible Persuasion.

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Home-renovation businesses expect a federal ruling proposed last month to increase operating costs and dampen sales, according to a recently released survey.  This survey is a great example of government regulation impacting small business.  Read the full article at the Wall Street Journal blog.

>Entrepreneur takes a leap of faith

What is an entrepreneur?  If you said a person who assembles the factors of production, raises capital, organizes management, makes policy decisions, and reaps the gains of success or the losses of failure, you would be correct.  The short answer is anyone who risks everything to start a business.  Steve Volz, of Alaska Search Marketing, left a good job with a steady paycheck and benefits to pursue the dream of owning his own business.  Listen as Steve tells the story of how he took a “leap of faith.”

Marketing Matters

Does your business use email marketing as part of its marketing plan?  Amanda Cullen of Zoo in a Jungle Marketing provides good reasons why you should and “how to do it right.”

Listen or download below:

Leap of Faith

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Two crucial forms of bank lending that remained stubbornly weak are finally showing signs of life, another indicator that the credit crisis is on the mend.  This uptick could help businesses expand and reduce unemployment listen to the summary.  Read the full article: “Uptick in Loans Could Aid Business.”

A Wild Ride

An entrepreneur is a person who wants to change the future.  Change involves more than talk.  The vision must be followed by action.  Following that vision is a great risk.  There is the risk of failure, a damaged reputation, the loss of time and money.  Listen as Dave describes what it took to follow his vision of a professional football team, Alaska Wild, in Anchorage.  Contact Dave  at david@WaConsult.com.

Listen or download below:

A Wild Ride

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Dave Weatherholt starts off this Getting Down to Business with social-networking sites that link entrepreneurs to pools of money.  Security & Exchange Commission (SEC) considers allowing equity stakes on crowd-fund sites.  This could be a great source of funding for small businesses, says Dave.

Outcast Productions

Kimberley Gray and Elisa Hitchcock met 14 years ago working on murder mystery dinners and started Outcast Productions, LLC. Today, their part-time business with expanded services is thriving.  Listen and learn from their business story.

Go it Alone

Geoff Burch is in rare form on his “Go It Alone” segment.  Listen as Geoff gives business advice to Kimberley & Elisa with great wit and witticism guaranteed to make you laugh.

Listen or download below:

A Great Bunch of Characters

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In the news, learn about the controversial ways one can use to finance a business using a 401(k). Love it or hate it, it’s important information to know.

Listen or download below:

The Business Side of the Food Bank

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Marketing expert Amanda Cullen, president of Zoo in a Jungle Marketing, joins the show to explain Facebook advertising. She answers the questions, “Should you advertise on Facebook?” and “How do you do it?” If you’ve been thinking about advertising on Facebook, you don’t want to miss this segment!

Listen or download below:

It Takes More Than Good Food

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This optimism index measures 10 components ranging from increasing hiring, inventories and capital outlays to earnings trends.  The data has been collected on a quarterly basis since 1973, becoming a monthly survey in 1986– making this an extremely reliable measure and record of the state of our small business community. In the 1980-82 recession periods, the Index was below 90 in only one quarter, registering the lowest reading ever at 80.1 during the second quarter of 1980.  The latest reading from December 2010 was 92.6, a drop from November’s 93.2.  “This marks the 36th month of recessionary levels.  Only once in that period did the Index get above 93 [i.e. November] and has been below 90 for 26 months.” Our business community is mired in pessimism as never before.

But don’t be too dismayed! In the article, I provide inspiration from the life of George Washington and how we Americans have a little Washington in each of us.

Read the full article: The Optimism Index

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Later in the show, get an Alaska economics update with Dan Robinson,  Senior Economist with the McDowell Group. Uncertainty abounds, and Dan and Dave discuss how to handle it.

Listen or download below:

The Entrepreneur

Sponsored by Business Insurance Associates

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Following a process, with repetition and practice, has been proven to contribute to a positive outcome. Yes, you guessed it! There is a process to selling – known as the sales cycle.

Read more… Sales Process Defined

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Amanda Cullen, president of Zoo in a Jungle Marketing, takes up the conversation with marketing advice for farms and agriculture businesses. She advises farms to keep their marketing “creative and fun,” with tips on how to start.

Listen or download below:

Young Entrepreneurs

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Process Implementation Steps:

1. Recognize the Process
2. Formalize the Process
3. Simplify the Process
4. Repeat the Process
5. Flawless implementation
6. Measurable results
7. Continuous improvement

Read more… Be the Best V

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David takes a look at some economic indicators for small businesses- showing, among other things, that small businesses are lowering their prices and feeling slightly more optimistic. It’s not resoundingly good news, but listen to the show for David’s full analysis.

Later in the show, our favorite Englishman, Geoff Burch, joins us with his segment “Go it Alone.” He has some great sales advice for entrepreneurs. Remember, Geoff has a new book out, Irresistible Persuasion.

Listen or download below:

Creating a Great Smile

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“‘Ladies and gentlemen, this is a dollar.’ The goal of every business is to earn them.  Most business people focus on the dollar and either forget or don’t realize what a successful collection process means.”

Read the full article: Be the Best III

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Read about becoming number one in your field  - and how this requires you to get back to basics in David’s article “Be the Best III.” He tells some great stories about business leaders and sports teams to really drive home his point.

Finally, learn some tips for making “A Better Home Office.”

Read Now:  Business/News & Views® – September 2010

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Blair Singer, of Sales Partners Anchorage and author of many books including Little Voice Mastery joins David on the show along with his partner Ryan Hodges. Blair’s book addresses “What you mentally need to win the battle between your ears.” He talks about failures and how they are the most valuable learning experiences.

Listen or download below:

The Voice of Business

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In titling the show “The Trailblazer,” David wants to highlight an aspect of entrepreneurialism. Entrepreneurs see new ways to do things and sometimes invent entirely new products and processes – blazing trails, so to speak.

Listen or download below:

The Trailblazer

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1. Recognize the Process
2. Formalize the Process
3. Simplify the Process
4. Repeat the Process
5. Flawless implementation
6. Measurable results
7. Continuous improvement

Read my articles, Be the Best and Be the Best II to learn how to organize your business structure to be able to accommodate success. Then use this solid base to grow. My seven steps are based on my Peerless Competitor pyramid:

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Sales expert and London resident Geoff Burch joins the show to engage listeners and promote his new book Irresistible Persuasion. Dave has been spreading the word in Anchorage about Geoff’s promise of showing readers “The secret way to get a ‘yes’ every time.”

Interestingly, the book has been selling well in the United States – better than in the U.K. Geoff posits that his country-men just aren’t as hungry for success. His book gets to the heart of sales, persuasion. Geoff says, “You can trace every business failure to someone failing to persuade somebody else to do something.”

Listen or download below:

Consider a Credit Union

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August’s issue of  Business/News & Views® brings articles on marketing war, conflicting economic news, being a peerless competitor and some internet tips and tricks. Here’s a quick summary of each article:

Amanda Cullen asserts that “Marketing isn’t war on your customers,” and tells small businesses why using warlike metaphors could cut into their profits. She suggests more realistic alternatives and shows recent, real-life examples.

There’s “Good News & Bad News” on the economic recovery front. David Weatherholt analyzes the data and gives the economy a D+ grade for August. Read the article to find out why.

David weighs in again with his article “Be the Best II.” If you stand alone at the top of your market, your business will enjoy above average profits and regard.

Finally, “Protect Yourself with a Strong Password” gives you all the advice you need to keep your password-protected data safe.

Read now: Business/News & Views® – August 2010

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Do you ever wonder what it is like to be on a world championship team? How would it feel to be part of the Los Angeles Lakers, New Orleans Saints, New York Yankees, Chicago Blackhawks, or “The Red Fury” Spanish National Football team? To know that you are the best at your level is an awesome feeling. It also means better than average profits.

I introduce the 7-step the process to get to the top of my Peerless Competitor Pyramid:

Read the full article: Be the Best

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David also provides a small business news update, first looking at the small business optimism index. Good news – it’s going up and is higher than it’s been since September 2008! David cheers us that the economy is moving in the right direction, however slowly. And with it, should return Alaska’s tourism business.

Listen or download below:

Geoff Burch – Live!

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Don started our repairing pallets for airlines, but the TEDS Box has taken his business to the next level. This product actually actively heats or cools the container, depending on the contents. David asks Don to explain the research and development of this new product, and Don elaborates on the regulations, engineering and building of the TEDS Box. This podcast will be useful for any entrepreneur with an idea for an invention and wants to take it to the next step.

Listen or download below:

The Pallet Guy

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Here’s a video to get you started:

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Governor Parnell weighs in with the similarities between running a business and running a state. In fact, he owned his own small business for ten years after learning entrepreneurship from his father and understands small business owners’ challenges. Listen to the podcast below for more stories and observations from the governor.

Listen or download below:

Working for Alaska

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After Dave’s news update about the optimism index, Geoff Burch joins the show with his “Go It Alone” segment. Geoff talks about some of the crazy things entrepreneurs think they need before they can launch their business- and what they should be focusing on instead.

Listen or download below:

Dancing with Goats

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Listen or download below:

Minimizing Business Risk

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Get inspired and read the full article here: Paradox of Leadership

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All small business people manage issues that are beyond their areas of expertise. Interior designers need to manage finances. A CPA firm needs marketing. But how can you know you’re making the right decisions? You need a mentor who can help you “Learn How to Fish.”

Learn the benefits of business mentoring for you and read the full article here: Learn How to Fish

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Amanda Cullen, small business marketing consultant, joins the group to give startup businesses advice on marketing their fledgling businesses. Marketing for small businesses doesn’t have to involve a large budget, and most of the time, the most effective marketing is quite economical.

Listen or download below:

The Gift of Bread

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David Weatherholt knows the way of the entrepreneur is challenging, and sometimes lonely. His “Paradox of Leadership” article has ten concepts that can keep you going, even when times seem tough.

David tells us in his economic summary that this is a, “Slow Motion Recovery.” Read the article for more details.

Amanda Cullen presents her “5 Small Business Marketing Rules” in a new series on small business marketing. In this initial article, she challenges you to take the test and see how your marketing efforts stack up.

Our final article is sponsored by the CEO Club and encourages small business leaders to find mentors. A mentor will hold your business accountable, and help you “Learn How to Fish.”

Read Now: Business/News & Views® - February 2010

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Dave also talks about how your vendors can help with your financing. For many small businesses, borrowing has become increasingly difficult. Some have developed creative means of raising capital, and Dave has the details.

Listen or download below:

Buying a Used Business

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Todd also discusses some of the business issues he faces: why he develops client relationships, what DenaliTEK does to keep clients and how they handle losing a client. All small business owners can learn from his candid assessment.

Dave and Geoff Burch, author and international guru, launched a new segment of “Getting Down to Business” called Going it Alone. In his trademark cheeky manner, Geoff encourages entrepreneurs to go out and make it alone. He says of employment, “Who was the first caveman who got another caveman to go out and kill a buffalo for him, then just give him a tiny piece of the buffalo as a wage? When did that start?”

Listen or download below:

Cloud Computing and Your Future

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Todd credits a great mission and vision statement with the successful growth of his company. Amanda Cullen, of Zoo in a Jungle Marketing for Small Business, joins the show and discusses how to create mission and visions statements that are effective for the organization along with how to use them as marketing tools.

Dave also gives a news update for small businesses, including tips for how to make your website great.

Listen or download below:

Focus on DenaliTEK

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Accountant Paul Foutz joins the conversation and makes projections for the Alaskan economy. He predicts what businesses can expect in the coming year. This episode of “Getting Down to Business” will be valuable to any small business owner.

Listen or download below:

The Winery

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David also talks economic news, using his experience dealing with recessions to encourage businesses. Paul Foutz joins David later in the show to discuss the Alaskan economy and what’s ahead in the coming year.

Listen or download below:

Discovering Latent Revenue

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These friendly competitors discuss the top ten franchise businesses, the benefits of franchising and the changing face of the franchisor.

Is franchising a good fit for your entrepreneurial spirit? How do you get started in franchising? Listen to find out!

Listen or download below:

Franchises are Businesses, Too

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1. Do they ask you about you and your business?
2. Do they have a background in finance?
3. Are they savvy with marketing?
4. Do they have experience in business?
5. What are their academic credentials?
6. Do they have business writing skills?
7. Are they reliable and ethical?
8. Are they experienced and proficient at market research?
9. Do they talk about success in business and have your best interest in mind?

These are the nine essential personality traits that are critical to success in business planning. The first is the ability of the consultant to look at you as an individual. Can they look you in the eye and meet you face-to-face? Are they able to be genuine when asking you questions about your desires, hopes and passion for your business? Make sure you are comfortable with your consultant and able to communicate effectively. Be sure your values and theirs are compatible.

Does the potential consultant superhero have a background in finance? When hiring someone to lead you in your business planning, you want a person who can develop meaningful financial projections. This means knowing what investors and lenders look for in solid business ventures. The financial section of your business plan provides the most critical data within your plan. It is necessary to hire someone who has the capacity to fulfill this need in your business plan. When you start with solid market projections and use this data to drive the pro forma financial projections and the breakeven analysis, you can begin to see the value of working with a person who has a solid financial background. The success of your plan hinges on the ability to link market data to strategic financial performance.

Has your potential superhero consultant had any business experience? It is so important for your consultant to have been involved in a start-up business in the past. Have they had any businesses themselves or been involved with other ventures which have grown into successful and thriving businesses? They must understand this as well as customer relations. Is your potential superhero consultant prepared to answer such questions as how the mind of your customers affects whether they will buy your product or service?

Another essential personality characteristic necessary is experience with quality goods and services. Has your potential consultant been involved in companies that have stood the test of time? And do they have experience with both large and small organizations?

What are their academic credentials? Real world experience is important but so is education. What degrees do they hold? Do they have a graduate degree and any professional certifications? Check them out and see what they have done with their education.

Largely a forgotten talent, it is important that your potential superhero consultant have experience with business plan writing. Can they write? Can they provide samples of plans they have written? What are some examples of other documents that they have written?

Are they reliable and ethical? Do they understand the real world and deadlines? Get a feel for how down-to-earth and grounded in experience they are. Can they help implement the plan? Do they provide high quality work? Can they provide benchmarks that are practical and consistent?

The last and final talent separates many an amateur writer from a truly gifted business-planning consultant that is the ability to do competent and reliable market research. Does your potential consultant have knowledge and ability to conduct effective and accurate market research? Will they provide you with accurate data that will be critical in assessing the competition and aid in the growth of your business?

Success in business requires planning, focus, execution, hard work and a little luck. Business planning is a key component of any business’s success. For example a properly developed breakeven analysis will provide a visual picture of the risk and reward your idea or concept faces. This is why choosing the right consultant is so important. When you choose one that is a superhero, you know his skills are based on strong business philosophy, financial analysis, and projection experience. The real superheroes have an understanding of broad general business concepts and a rich array of industry specific knowledge. This alleviates the possibility of industry-specific blind spots, and allows your superhero consultant to objectively analyze the industry and provide innovative solutions. Getting a high quality business plan starts with hiring a business planning superhero consultant!

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Most successful entrepreneurs are highly motivated, focused and full of intention. Having a thoughtful and professionally written business plan will tip the odds in your favor. There are fifteen “must haves” for a good business plan. Each one takes time and thoughtful reflection to be done well. The first is a qualified business-planning consultant. When you hire a fully qualified business-planning consultant much of the stress of wondering whether you are fully informed about your market, product and future earnings will be alleviated as you turn over that task to a professional.

The second “must have” for a business plan is an executive summary and business concept. The executive summary is a statement of purpose and general overview of your plan: concept, product/service, market, operations, management, your company and the industry. Your business concept includes your mission statement, your background, current status, and future plans.

When describing the industry your business calls home, it is important for you to look for the characteristics, the participants and the trends that make your business unique.

The product or service you provide is often the focal point of any business. What is needed is a simple
explanation of the product features, the customer benefits, the stages of development, and future products and/or services.

Next describe the facilities in where your business will be located. You will describe the business location, any special transportation routes or vehicles needed, what the labor pool or employees consists of, and the availabilities of utilities to meet your needs.

Marketing is a key component to business success. Analysis of target markets will bring many important insights. When you profile target customers to understand the total person and their motivation for wanting a product or service like yours, you begin to understand how you can best serve that customer’s needs. Looking at market share, trends, and growth potential is an important part of the process.

A large portion of a thorough marketing summary includes the competition analysis for your business. What is your competitor’s profile? How does your product or service compare with that of your competition? Do you occupy a particular market niche? Is it possible that you share a segment of the market with another company or business? Finally, what are your strengths and weaknesses in relation to those of your competition? When working on the marketing piece of your business plan, a good one will have market penetration goals. It will cover pricing and packaging of your product or service. In addition it will include advertising, public relations, and promotions.

When planning the business structure and organization of your business, the management and ownership of the business are crucial. What type of business structure will you work from? Will you be an LLC, S-Corp, C-Corp, partnership, or sole proprietorship? The list goes on and is worthy of some investigation. Who will manage your company? Is there a board of directors? Who owns the business? Are you or your business a member of any supporting professional assistance programs? Answering these questions will give you a clear picture of how your business will run.

Financial data and projections of your company are critical for assessing the outcome of your business. What is the source of funding for a start-up? Does it come from an owner, partners, stockholders, loans, or venture capital?

What do you plan to do with the money that is allocated? What are your business’s needs for start-up costs? Does the money you plan to have from the beginning cover your plans for expansion of the business? Will there be new construction? It’s also important to think about what equipment you need to successfully begin running your business. Do you have a budget set aside for your needed marketing campaign? Do you have enough working capital to draw from for any of these scenarios? For projected or pro forma financial performance, do you have detailed assumptions, a pro forma balance sheet, a pro forma income statement, or measures of performance?

In the final section of your business plan you will include supporting documentation which will add support to your plan. There are four areas to this: company and product/service support material, legal support materials, market support materials, and business structure and organization. When providing the company and product/service support material, the product and equipment specifications sheets may be helpful. In addition, photos of product, equipment, or facilities can be included.

This article has provided a template for creating a great business plan. Now start evaluating your mission, purpose, values, and motivation for launching or expanding a business. Then begin writing. Once it is complete, your business will have a schedule and plan, strategy and road map to the future. This will enable the plan to grow and change with your business as it becomes more successful.

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3. Nuts and Bolts of Business Planning

Dave’s guest is Dwain DeVille, author of The Biker’s Guide to Business. Dwain is an entrepreneur coach and asks, “What do entrepreneurs and business leaders have in common with bikers?” The answer? More thank you think!

In the news, Dave alerts small businesses to the opportunity of applying for grants and stimulus money. Someone has to get it. Why not you?

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The Tragedy of Strategy

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This path followed, sometimes reluctantly, by brave or desperate individuals driven to make a difference can have a dramatic impact on not only themselves, but sometimes their community and even the world. True entrepreneurs, like heroes, often are simply trying to survive using their own instincts, which can lead to astounding feats while all along they are simply doing their jobs. Setbacks, recessions, down cycles, or just plain bad luck can either defeat or inspire the choice made at an individual level. The choice to move forward (choosing inspiration) requires taking that first step, then the next, and so on until you reach a different point from where you started. This, in a nutshell, is what entrepreneurship is all about, simply doing what it takes to survive. How many businesses do you know of that started this way?

Business innovation takes place all over the world. In Vietnam during the war, I found myself driving a large truck in a convoy that strained under heavy loads to climb the steep grade of An Khe Pass. The pace was so slow that you could literally walk to the next truck and borrow a cigarette. The trucks labored in the sweltering heat to reach the summit of the pass. The trip was long, hot, and treacherous, however, at the summit, in the middle of nowhere, was a vender selling cold drinks. In a war zone, on a road that snaked its way to the Cambodian border in the heart of North Vietnamese Army (NVA) controlled areas in sweltering heat and humidity with no electricity, stood a man and women next to an ice chest selling cold drinks to thirsty drivers. They didn’t do this just to see our smiling faces but were driven by necessity.

Their necessity sheds a different light on our current economic downturn. Many of us are experiencing real pain and anguish over our businesses. Waking in the middle of the night straining restlessly to figure out how we will make it through another day. This is the fertile valley of innovation and many of you are coming up with truly inspiring ideas.

The enterprising owners of a women’s shoe store located in Juneau, Alaska developed the idea of using their store for birthday parties. Their website claims; “You can schedule your own shoe party after-hours at Shoefly + Hudsons! It’s a great idea for celebrating birthdays, wedding parties, summer and more. You bring your own food and drink, and we provide shoenistas and shoes!” This idea created a whole new revenue source with very little in the way of costs.

The innovative owner of ESSpa and Organic SkinCare located in Pittsburg, Pennsylvania needed a quick cash infusion. In a single day she raised $30,000 by pre-selling spa services at a discount. A dentist who developed a “Dentspa” states on their website, “State-of-the art technology, a warm, inviting atmosphere, and an array of spa amenities combine to provide you the highest quality care in the ultimate relaxation setting.”

This is another example of a truly different and innovative spin on a routine business. Then there is the story of an entrepreneur who sold high-end designer t-shirts very successfully, but the economic downturn slowed business to a trickle. They spurred sales by using an innovative discount tied to the Dow Jones Industrial average combined with steep price reductions. Not all changes result in immediate success but taking action is the most important step. What can you do differently with your business?

Is there a new market for your products or services, or possibly a different business opportunity out there that you haven’t considered? Changing your business model is not always a bad idea. Every business that successfully makes it past their first five years usually has changed significantly from the business that it started as. In the beginning of a business, product or service knowledge was your advantage but now that you have demonstrated success operating a business, look for ways to replicate that success using your business experience to engage in and promote other business ideas and opportunities. Tell me, what ideas have you tried or have heard about?

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American Small Business Greats

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