Worse yet are the numerous stories of banks coming back around to their small business customers to ‘reevaluate or review’ a loan package or line of credit. The banks have been doing this with regularity over the past year and a half primarily because they have economic jitters (and regulators breathing down their necks) and, the unconditional right to do so. Often times, this activity requires extraordinary amounts of work on the part of the business owners (a major distraction) in order to provide the bank with an updated inventory count or some other form of business valuation, to appease them enough to move their company off the hot seat.

Speaking as a small business owner, it’s especially frustrating to see all of this going on, knowing full well the significant contributions that small businesses make to the US Economy in the two leading areas that determine the health of the economy at large; real GDP (gross domestic product) and net new jobs created. According to the SBA, “small businesses create most of the nation’s new jobs, employ about half of the nation’s private sector workforce, and provide half of the nation’s nonfarm, real gross domestic product…”

So here’s the good news, sort of: HR 5297 – Small Business Jobs and Credit Act of 2010. This SBA bill, sponsored by Rep. Barney Frank of Massachusetts, is big news for small businesses. It passed the House but… we’ll get to that it just a moment.

HR 5297 stands to benefit small business in some big ways. First, it provides a 90% loan guarantee via the SBA, giving the banks the security that they need to make a loan. Compared to the normal 75% guarantee, it can mean the difference between getting the loan or not. Second, there are no fees associated with this loan package. This alone can save a small business tens of thousands of dollars! Third, the loan limit has been increase to $5 Million. The bill also allows businesses with up to $15 Million in net worth to qualify. The previous limit was $8.5 Million. In addition, small businesses with existing SBA loans that have balloon payments coming due can refinance their commercial loans through this program.

Now for the bad news: Politics…need I say more? HR 5297 passed the House of Representatives on June 17^th with 241 in favor, 182 opposed and 9 abstaining. A small margin for sure but, it passed. It has since stalled in the Senate due primarily to a Republican filibuster.

This post is not intended to be a political commentary. It’s my hope that our representatives in the Federal Government will have the good sense and the higher calling to put aside their differences and truly act in the best interest of the people by passing this bill.

Monday, September 13^th is the day Senators head back to Washington after their summer recess. Waiting for them, front and center, will be HR 5297. As you can imagine, there is a lot of energy and anticipation surrounding this particular bill. With all of its attributes and the fact that it could be very profitable for the banks, it stands to be a win-win-win. Small businesses win, they get funded. Banks win, they make profitable loans. Government wins, they serve their constituency, create real GDP and jobs.

The SBA lending community (approved banks) has started to come alive recently and, according to several business owners that I have talked to across the country, banks are now reaching out to their small business customers in order to reopen funding discussions. Presumably, this is in anticipation of the passage of HR 5297.

If you have not heard from your banker recently and you are interested in seeking funding through the SBA, you owe it to yourself to put a call in to him or her and find out what they are doing to prepare for the potential passage of HR 5297. More importantly, you should find out what they can do for your small business specifically.

“Employees within a business will rise to their own level of incompetence. Beyond that point, they will not be particularly effective inside the organization, and will not contribute as they once did.”

Well, business Web sites need to be considered like an employee – they are an internal resource that needs to be utilized as effectively as possible for the ultimate growth of the company. Like any resource; it needs to be kept current, relevant and in synch with the business goals.

Unfortunately, many businesses neglect their sites so they remain a static listing of products – lethargically posting information to its point of incompetence, running rampant inside many vertical markets; such as healthcare, food production, bio sciences, and others.

I talk with many business owners who do not fully understand the fact that the Internet – regardless of their market and industry – needs to be a dominate factor in their marketing and sales strategy to drive business growth. Business owners I speak to inside industrial markets still believe the Internet is not important to their own customer base. It’s just for kids, or those buying retail. These company leaders are falling way behind with regards to sustaining business relationships, and leveraging the Internet to grow revenues, year in and year out.

Having a static Web site is no longer a viable means to grow your business. Like your sales person, your site is about interacting with real people, ensuring they find you based on what you offer in terms of a solution to their problems. People searching on the Internet are looking for someone to help them and then, deciding if they want to engage with you before they ever pick up the phone to speak with you.

So what does that mean? Your potential customer is coming to you (inbound marketing) and is pre-qualifying you as a potential vendor.

That is how business to business is done on the Internet. For manufacturers, distributors and dealers who understand that the Internet is such a powerful medium which must be embraced and used to its fullest, they are taking actionable steps to use it. Why?

Over 74 percent of the U.S. is now on the Internet at some level. 74%!

That is three out of every four people you talk to – and transact business with every day. Doing business with people on the Internet is not just about having some product listed in your business site and hoping they pick yours over someone else’s. It’s about helping to solve a problem they have. New customers come from those who are seeking a partner to provide a solution, the right solution, for their own business. You need to be found so you can be that solution provider.

Yes, Internet marketing can be daunting. But, it’s a brave new world where business gets done. And what about business owners who dismiss the significance of the Internet: not preparing their organizations to strategically leverage it to their own fullest advantage?

Those not recognizing the Internet as the viable and essential business tool it is may be classified as the “Peter Pan” Principle.

Like Peter Pan, it appears they would rather remain in a more comfortable place.
Not try something new. Set aside plans to use the Internet fully – and maybe, just maybe – they won’t ever have to leave Never -Never Land!

As Peter Pan said… “I’ll teach you to jump on the wind’s back, and away we’ll go!”

However, I think a better lesson from Peter Pan – with regards to strategically growing your business – would be to fully utilize a wide array of Internet technologies (supplied by your friends at Cazbah of course) and generate better business results and more revenue.

I say…. “Let’s jump on the Internet and away we’ll go!”

And there’s nothing worse than having to tell that client to holster it back up because they aren’t ready to pull the trigger.

That is sometimes the situation we find ourselves in when our small business clients are interested in implementing social media strategies before they have made sure that the location they are driving traffic to – usually their Web site – is prepared to handle the traffic.

When it comes to marketing their own brand, many small- and mid-sized businesses are working with limited resources.  So a decision to increase focus in one area often inadvertently becomes a decision to decrease attention in another.

Embarking on a social media strategy is a major undertaking for any company, an effort that often manages to soak up a lot of internal resources.  This can mean that the more mundane efforts it takes to update the company Web site can often go ignored, leaving the place you are trying to drive more traffic to looking something less than its best. Why is this a problem?  Because social media efforts are just a means to an end, with your final goal being to convert traffic into sales.

It’s important that the first step of your social media strategy be taking a look at your Web site and making sure it is an effective end-destination for every tweet, blog post and shared video.

• Are there clear “calls to action” throughout your Web site?
• Are your products and service pages current, accurate and complete?
• If you are targeting a specific audience with specific services/products needs in your social media efforts, are those services/products easily found?
• Are your contact pages updated and complete?  Is it easy for customers to continue the dialog that you started with a social media vehicle?
• Is your Web site content of interest to your social media audiences?

Pages that need simple corrections should be taken care of right away.  Any section that needs more extensive effort should be avoided as landing pages for social media traffic.  Once you are comfortable that your Web site is ready and able to do handle the new traffic, your company can feel comfortable in taking its first shot at social media success.

In the last year we’ve seen a number of tools introduced into the marketplace to increase value while decreasing the amount of time spent producing videos. Social media sites like YouTube and Facebook have made it very easy to upload videos and share them. Additionally, video camera and even cell phone technology have made it much easier to create videos and get them onto the internet for viewing.

Why
So why would you ever want to create a video for your ecommerce web site? You want sales. After all isn’t that why you have a commerce site? Video can give you a real competitive advantage by sharing your knowledge and advice on how to get the most out of the product or service you are selling. This will attract viewers who,if done correctly, can become customers.

How
I like to use a video camera called Flip Video. This inexpensive video recorder is small and easy to use. It creates quality video without a lot of complexity. Most importantly Flip Video has very easy to use software for editing and uploading your videos. Once you have shot your video you need to decide where to upload it. I use YouTube as the hub for my customer’s videos. YouTube allows you to store your videos for free and has a number of tools to allow you to promote them. Once I have uploaded the video to YouTube I can embed that video on my customer’s web site, blog, Facebook, etc.

Results
In the end the reason we do this is because we are creating value. We are showing the world what we know about our products and services so we can build trust and ultimately make more sales. This is precisely what a number of our clients have done. For instance take a look at my customer’s video listed on the Google search page for the term “saniguard spray”. My customer doesn’t just sell Saniguard spray, he creates value by showing how to use it properly. This video has done a lot to increase their sales of the Saniguard spray product line. Lastly I will leave you with a video that took me about an hour and a half to shoot, produce, and upload. I used a Flip Video, uploaded to YouTube and then embedded the video to my customer’s appropriate product web page. The “video value” my customer creates in this video will be sure to increase his sales. How can you increase your “video value”?

When I was growing up, my Dad instilled in me early on a love for technology and all things computer related. He has always had a passion for it himself and thankfully, he passed that torch on to me.

Over the course of my years, I have seen technology change and develop at an exponential rate. This of course has impacted the way the normal person does business in a vast amount of ways. When we got our first family computer, it was (by standards then) a moderate machine. If memory serves it was a Pentium 166 with 32 Megabytes of ram.

Now though, you could buy that computer for around the cost of a dinner at any restaurant. Its mind boggling to think just how far we have come in the past 20 years with computers. Just the other day, I was in the kitchen talking to my parents and my phone rang. I checked it and casually replied “Oh, I have an email”. My Mom looked at me like I had grown a third arm. She couldn’t believe I could get email on my phone. I told her all the other things it could do (email, texting, Internet browsing) and her only reply was “It still makes calls, right?”. We laughed but shes right, my phone now is more of a computer than our family PC was for 10 years.

That’s not it either, as computers become more advanced so do the things we do with them. I can remember a time…a time before Facebook, before Twitter, and when Myspace was just starting out. If someone said the word “blog” you thought they were speaking some other language. In such a short span of time, the Internet (along with computers) has completely changed. People are able to stay in contact with just about anyone in the world. Companies are able to reach out to customers they were previously denied. Nothing, seemingly, is off limits with access to the Internet.

The biggest obstacle is actually knowing how to use the technology available to you, and using it to your advantage. It can be extremely daunting to someone unfamiliar with it, and that can breed hesitation to try new things. The best advice I can give someone who is in that position is to simply ask. Find someone who knows about it and sit them down. Once you know the pros and cons, then make a decision, don’t let fear of the unknown or untested scare you.

Technology has changed drastically in the past 10 years, and it shows no signs of slowing down. Embrace it. Adapt and grow with it because as it continues to change (and believe me, it will), the structure of the world and business around you will change with it.

Are you up for it?

(The importance of your differences cannot be overstated.)

The short answer to this question is, you do! If you want to do more business, more effectively on the Internet, then you definitely need a Unique Value Proposition.

The term Unique Value Proposition can be best understood by breaking it down into its parts.

Unique refers to the characteristics of your product or service offering that distinguish you from as many of your competitors as possible. Think about it. What is it about what you do that sets you apart? Take the time to really understand how you are different from your competition. Then, write it down!

Value is the intrinsic worth of your offering to your customers. In other words, it defines what your customers get for their money. If you’re having difficulty with this one, ask your customers to describe how your service or product has helped them. Take this input and translate it into several concise statements.

Webster defines Proposition as; a statement containing only logical constants and having a fixed truth or value. That pretty much sums it up! It is your factual and truthful proposal to your customer. Being able to qualify and quantify your claims is very important and makes your Unique Value Proposition that much stronger!

The Internet is a tremendous resource for gaining a better understanding for the UVP concept. There are numerous examples that you can find online through a search using any search engine, on the terms ‘Unique Value Proposition.’ Using the results of your search as a model, construct your own Unique Value Proposition.

Documenting your Unique Value Proposition and making it easy to understand is very important. As with goals, the elements of your Unique Value Proposition are not real until you have written them down. Once you have done so, place them somewhere that you are sure to see them. Reading them on a regular basis is an excellent test of their accuracy. Ultimately, your customer will determine how well you have captured your Unique Value.

As an aid in this process, ask yourself this question: “What is it about what we do that makes us different (better)?” And, “Why should anybody care?” Combining your honest answer to these two question with some objectivity and customer input will get you far along the path to identifying and documenting your Unique Value Proposition.

Use mind mapping to capture your Unique Value Proposition. Write your product or service features in the center of separate pieces of paper. Once you have documented the features in this way, draw a circle around each one. Then, write the benefits that your customers receive from that feature in smaller circles, surrounding the center. Connect the circles with lines, like spokes in a wheel. When finished, evaluate them all to ensure that they accurately represent your offering. Compile each feature map page into one sentence. Then, combine the sentences into an itemized list or paragraph. Congratulations, you have just created your Unique Value Proposition.

As I mentioned before, your customer will be the ultimate judge of the accuracy of your UVP. Take the time to test your newfound focus by sending it to some of your better, longer term customers to gain their insights. Their input will provide you with the finer points that will allow you to refine and sharpen your Unique Value Proposition even further.

All The Business!

Marketing your business remained very traditional – with one additional ‘cool’ feature – a web address, which you listed on every brochure, business card, and magazine advertisement you placed. And it was powerful. So much product information, industry knowledge and articulate value propositions could be displayed – graphically. Provisions for updates including internal procedures, job assignments, and sincere dedication to this new media assured its contribution to your small business success.

Celebrations were held all around and with baited breath – results were expected. Often, these results were good, sometime phenomenal, too often however – very much lacking. Even more review and internal discussions to change some of the content bore little fruit.

In the end, a decision – perhaps not a conscience one, but a decision all the same was made: ‘This site is not going to produce the results we expect. Let’s just leave it up there and get back to the business we know best. What the heck, maybe someone will find it and give us call.”

I find it curious that a small business that specializes in a particular market segment – and advocates to their customers all the good reasons for leveraging their unique abilities – dosn’t apply the same thinking to the growth of their own business.

Just having a site is not enough – certainly not today. It requires constant attention to understand the ever changing conditions in the Internet as-well-as the practices of those who use it to find relevant information, i.e., your target customer!

Are you an expert in your industry? I expect so. Are you an expert in Internet marketing? … Perhaps – but is that the business you are in? Probably not.

Vikki Donnelly, who has been with the company for 4 years now, was promoted to the position of Director of Production / Build. Vikki is responsible for all aspects of the work product and resources associated with the development and update of our customer’s websites. Vikki’s and her production team are the first people that customers encounter after joining Cazbah. Her keen sense of timing and priority has ensured a flawless record of successful customer website launches.

Mike Farney, one of the first employees of the company, was promoted to Director of Account Management. Mike’s roll is to oversee and manage the dedicated account management staff at Cazbah. Mike has been an account manager himself for 5 years and is a classic example of what effectiveness as an account manager at Cazbah is all about. Mike’s responsibility is to provide leadership to his team in all areas of their involvement with their individual base of Cazbah customers.

Louis Horton, was recently promoted to Director of Information Technology. Louis is responsible for a growing staff of software development personnel and is the principle development engineer for the company. Louis provides direction to his team regarding the design, daily operations, security, update and continuing development of Cazbah’s technology. Louis’ expert development skills have had a profound effect on the quality of the company’s technology in a very short period of time.

This group represents the management team for the company and is headed by Mike Seppala, company president, who acts as the director of operations.

Congratulations to Vikki, Mike and Louis!

Next, a lot of your competitors are sitting on their hands waiting for something to happen. If you are out there making something happen, you have a huge advantage. I think Winston Churchill’s statement during WWII sums up our current state pretty well, “This is no time for ease and comfort. It is the time to dare and endure.”

This leads us to the next advantage. Your business is part of the solution. Small business is the back bone of the American economy. Our own President acknowledges this. So, running a well oiled successful small business, in today’s turbulent economy, only sets you up for greater success as the economy moves forward into more rewarding times.

Now, do I think it is going to be easy? Absolutely not! It’s going to take creativity, thought, planning and implementation on a huge level. Your business is going to need to have a rock solid strategy from top to bottom. In today’s business environment, any hole in your business model will quickly lead to a sinking ship.

So what can you do as an entrepreneur to ensure success? First, get a strong business plan. Plans help you set a course for success. They show you were your strong points are and where your challenges are. Next, be willing to make adjustments based on the information you gather that will impact your business plan and create a strategy for implementing your plan. Finally, follow through with the plan. I have seen more small businesses than I care to remember set themselves up for failure based on their lack of follow through. They have a great plan, but never implement it and end up dying off or just winging it. In today’s economy this is truly a recipe for disaster.

Lastly, as Nike likes to say ‘JUST DO IT’. Whatever it takes, do it! Don’t be afraid to ask for help there are a lot of places out there to get help. You can go to the Small Business Administration, the Internet has a ton of information and advice, local business groups, or even other local business owners themselves. Business owners can be the greatest resource because in many cases, they have been there and done that.

My own take away from the video was somewhat different although, she is absolutely correct in her assertion that small businesses need to “get in the game.”

Regardless of who or where you are, this video will have an effect on you. These are truly global exponential times. Watch and ponder: