50+ Entrepreneurs

Startups Marry Youth, Experience - Kerry Hannon

Date
Fri, 2013-09-20 12:17

When Nancy Burkhart, 69, graduated in 1966 from UCLA with a degree in anthropology, she “wanted to save the world," she recalled. And today, with the help of her daughter Jessica Arellano, 36, she feels as if she is doing that, in her own way. The two own and operate Earth Safe Finishes, a nontoxic paint and finishes company based in Moorpark, Calif., that they founded in 2007.

SCORE ExpertAnswers

No matter the small business, each entrepreneur faces one similar issue: Pricing. Are you out pricing your customers? Are you under pricing yourself? Is the difference between a year in the red or the black as simple as your price tag? This month SCORE helps you find the answers to these questions.

Few people are better qualified to discuss this issue than Ann Logue, who spent 12 years as a financial market analyst before turning her talents to writing. She also shares her expertise as a lecturer in finance at the University of Illinois at Chicago, teaching both undergraduate and MBA students about corporation finance and international financial markets. Ann will go over the finer points of pricing to help you maximize your pricing for profitability. 

Q:

Pricing is something that all small businesses wrestle with, particularly those just getting started. What are the fundamentals for determining the ideal price for a product or service?

About the Author

Ann Logue - Author and Business Analyst

Ann Logue is a freelance writer and consulting analyst who is fascinated by business and technology. She has a particular interest in regulatory issues and corporate governance. She is the author of Emerging Markets for Dummies, Socially Responsible Investing for Dummies, Day Trading for Dummies, and Hedge Funds for Dummies, and has written for Barron’s, InvestHedge, Newsweek Japan, and BusinessWeek Chicago, among other publications. As an editor and ghostwriter, she worked on a book published by the International Monetary Fund and another by a Wall Street currency strategist. She is a lecturer in finance at the University of Illinois at Chicago. Her current career follows 12 years of experience as an investment analyst. She holds a B.A. from Northwestern University, an M.B.A. from the University of Chicago, and the Chartered Financial Analyst designation.

 

Ask SCORE
 
       I’ve never been the most organized person, but it’s reached the point where the clutter in 
my office is starting to hinder my productivity. How can I get a handle on the paper monster 
that’s threatening to consume me?
 
 

About the Author

       This column is brought to you by the Merrimack Valley Chapter of SCORE, with nearly 70 current and former business executives available to provide free, confidential, one-on-one business mentoring and training workshops for area businesses. Call 603-666-7561 or visit merrimackvalley.score.org for information on mentoring, upcoming workshops and volunteer opportunities. SCORE is a national, non-profit organization and a resource partner of the U. S. Small Business Administration.
       Have a question you’d like answered in this column? E-mail it to info@score-manchester.org, with “Ask SCORE” in the subject line.

Ask SCORE
 
       I’m currently in the planning stage for a new retail bakery. I’m going to need some funding for equipment, but my personal credit history is a bit spotty. How much is that going to hurt me, and how can I combat it?

About the Author

       This column is brought to you by the Merrimack Valley Chapter of SCORE, with nearly 70 current and former business executives available to provide free, confidential, one-on-one business mentoring and training workshops for area businesses. Call 603-666-7561 or visit merrimackvalley.score.org for information on mentoring, upcoming workshops and volunteer opportunities. SCORE is a national, non-profit organization and a resource partner of the U. S. Small Business Administration.
       Have a question you’d like answered in this column? E-mail it to info@score-manchester.org, with “Ask SCORE” in the subject line.

The smartphone is changing how consumers make buying decisions. With just a few taps, you can find a contractor, schedule an appointment, or make a purchase and have it shipped to your house. Mobile commerce is so quick and easy that eMarketer™ predicts that more than 77 percent of all U.S. online shoppers will use a smartphone or tablet to buy at least one item by 2017.
 
This dramatic growth presents a big opportunity for small businesses that can use this sales and marketing channel to their advantage. Many have already realized the potential: Nearly three-quarters of the businesses surveyed in the 2013 AT&T Small Business Technology Poll are increasing their mobile marketing budgets this year. Mobile is not just for retail shops and restaurants. Professional services firms, medical practices, and other businesses also need to master how to use it.

Becoming a Mobile Marketing Master

Sometimes the best new business ideas are right under your nose. If you’re like most entrepreneurs, once you’ve got your current business at a comfortable (and profitable) level, you’ll be itching to start something new. If you’ve already added a product or service to your existing business and its popularity has taken off, it may be time to start a spinoff business.

By Rieva Lesonsky

Sometimes the best new business ideas are right under your nose. If you’re like most entrepreneurs, once you’ve got your current business at a comfortable (and profitable) level, you’ll be itching to start something new. If you’ve already added a product or service to your existing business and its popularity has taken off, it may be time to start a spinoff business.

Before you embark on a whole new adventure:

About the Author

Rieva Lesonsky is CEO of GrowBiz Media, a media company that helps entrepreneurs start and grow their businesses. Follow Rieva at twitter.com/rieva and visit her blog at SmallBizDaily.com.

Visit her website SmallBizTrendCast to get the scoop on business trends and sign up for Rieva’s free TrendCast reports.

The power of word of mouth in marketing a small business has been well-known for decades. In today’s online age, entrepreneurs are looking for ways to harness the power of connectivity across the Internet and social media to increase both the reach and frequency of word of mouth marketing. Whitney Lemon, host of  Friday 15: Small Business Tips, part of Google’s Get Your Business Online series, offers some ideas on how small businesses can use social media to get more word of mouth occurring about their brands.

Q:

Studies show that approximately 70% of people trust opinions of friends when making buying decisions, and 40% trust the opinions of someone trustworthy whom they don’t personally know. What are some obvious truths about word of mouth that small businesses may overlook?

About the Author

Whitney Lemon

Whitney Lemon- Friday 15 Host, Google Small Business Engagement

Whitney hosts Friday 15: Small Business Tips, Google's series to help small businesses succeed online, in 15 minutes or less.  Friday 15 is  part of Google's Get Your Business Online program providing small businesses with a custom domain name and web hosting-- free for one year. 

Most small businesses today know about the importance of online reputation and the power of social media to help or hurt that reputation. Dozens of websites and rating services, from the majors such as Yelp, Twitter and Facebook to those serving specific business sectors such as travel, are open for anyone to express an opinion.

By Daniel Kehrer
Founder, BizBest.com
 

Most small businesses today know about the importance of online reputation and the power of social media to help or hurt that reputation. Dozens of websites and rating services, from the majors such as Yelp, Twitter and Facebook to those serving specific business sectors such as travel, are open for anyone to express an opinion.

About the Author

Daniel Kehrer headshotDaniel Kehrer, Founder & Managing Director of BizBest Media Corp., is a nationally-known, award-winning expert on small and local business, start-ups, content marketing, entrepreneurship and social media, with an MBA from UCLA/Anderson. Read more of Daniel's tips at www.BizBest.com, follow him at www.twitter.com/140Main and connect on LinkedIn at www.linkedin.com/in/danielkehrer.
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