Small Business News: The Miracle of Small Business Budgeting

In the old days, it might have been looked at as some kind of rare miracle or a secret science like magic or alchemy, but these days it’s pretty well understood that small business budgeting is a matter of having the right strategy, the right tools and some good old fashioned common sense. Here are some kernels of wisdom from those who know about how to improve your small business budgeting…and maybe keep a bit more of that hard earned money in the end. Hope we all learn something from this.

Trends

Budgeting lessons from the top. Should government be run like a business? Maybe so. But whether it is or not, certainly small business owners and entrepreneurs can learn something about the way heads of states handle their budgets. Both what they do right…and what they do wrong. Here are some thoughts from the most powerful leaders on Earth. Can you apply them to your small business.Open Forum

Avoiding the possibility of VAT fraud. Live or do business in a country with a VAT or Value Added Tax. Then certain invoices your business may use regularly can be used to commit fraud regarding the proper payment of that tax. To avoid your company’s invoices ever being used for this purpose, here are some simple tips.Bloggertone

Leadership

What should be your take? Ronika Khanna looks at the question of what kind of owners draw an entrepreneur should select when taking money out of your business. Options include dividends or salary and there are pluses and minuses to both approaches. Don’t make the mistake of believing that it makes no real difference. Be sure to understand the options before making the choice.Montreal Financial

Why small businesses should become their own banks. Are you sick and tired of a banking industry made rich on the work and wealth of others, who benefit while those they serve languish and receive lavish billion dollar bailouts on the taxpayer’s dime when things go badly. This is one business owners eloquent solution, a declaration for all small business people who are tired of the same old same old.Dwayne Flinchum

Finance

Not every small business is a winner. Some small businesses aren’t an immediate success and some need help in order to survive or even flourish. Sometimes a struggling business just needs a leg up. But how do you know whether a business is promising and when it is a lost cause. Here’s a perspective for the small business investor.Bizilla

Financial help from the Bible? This post, from a Website touting its content as“Biblical strategies for start-up entrepreneurs” shares 62 passages in the Bible dealing with the issues of prosperity and the wise use of money. Working on starting a new enterprise. Might not hurt you to leaf through the pages of the Bible first, or pick your own holy book as appropriate, to learn what these books have to say about the art of financial budgeting.Michael G. Holmes

Lending

There’s a new sherriff in town. Credit unions want to take over a role once held by big banks. That role is loaning to your small business. If you think this sounds like a great idea, we’d suggest you read the above article on the process necessary to make this lending arrangement possible. Leave your comments below.WSJ

Donations

How giving back to the community can be a very wise expenditure. Not everything you spend money on in your business needs to have an easily measurable ROI. Certainly, some financial gurus might freak out at the very thought of this idea, but it’s true. Giving to organizations like little league does more than put your company name on their shirts. It imprints your brand on the heart of a community.Sydcon Web Development Inc.

Management

Budgeting and managing inventory: the 2011 guide. Even in a world of information entrepreneurs and drop shipping retailers, inventory remains critical for some small businesses. If you fit into this happy little group, chances are you can always benefit from a primer on the latest techniques and trends. Here it is with many wishes for success.Inc.com

Staying in the money. What if positive cash flow was not something your business ever needed to really worry about even through the deepest, darkest recessions? What could you do with that positive cash flow to expand and reinvest without borrowing, credit and additional debt? Here are some ideas to make that dream come true.Open Forum

Source

33 Logo Design Services You Can Use Today

As you build your company and website, you probably want to present something unique, something that is memorable about your company image. Many companies choose to create a logo to identify their brand and company. But often, creating an original logo when you are first starting out is too expensive.

So here are 33 logo creation applications or services that range in price from free to affordable. This list of free and paid services should help you find the best tools. One word of warning: Several of the“free” sites are free only for the creation process.Always readthe fine print.

If you want to download the logo you’ve created and have unlimited use, there is a charge, and I tried to note when that occurs. To be totally realistic, you could do some of this work yourself in Powerpoint or a decent drawing program, but there are small companies starting today that don’t have those software programs, and these mostly Web-based tools might appeal.

Free (or Mostly Free)

Supalogois one of my favorites for creating a super-fast font-based logo. You type in your text, pick some options and hit download. You can even look at samples and click edit and start from there. Nicely done.

Logo Victoryis a completely free logo design tool that lets you download a jpeg image. If you want other file formats, they have a small upgrade charge. They also offer paid services starting at $49. This was one of the only sites that offered a no-strings free logo.

Marketsplashis a completely free (with registration) logo design service. I was impressed with it. It is built and run by HP, which I mention in other places, but this tool lets you download a few different versions of your logo with a simple registration.

The Logo Creatoris free logo creation software. No trial, no demo, fully free in return for a tweet. Yes, a tweet on Twitter and you can have their software for free. From the logos showcased on the site, it looks like a fairly robust application. The offer was tested and worked at the time of publishing this post.

CoolTextlets you type out your company name and then choose different ways to stylize the font itself. Handy, fast and free if all you want is your name with a bit of energy to it.

Logo Easeoffers a fully free logo creation tool. You have to register, but they let you create and download (they send you the link) the logo that you spent time creating. When you get your download link, it comes with instructions to include a link back to their site. They also offer paid services.

LogoCraftlets you select an icon from predefined categories, then add text and effects. Once it is ready, save the logo or download it for future use. You can access the logos you created anytime and edit them further. Very easy to use. They also offer a custom design service starting at $49.

Flaming Textis similar to CoolText, but I liked a few of their different options. I could see using sites like these for a young company, a nonprofit or a project. For some companies, this is all they might ever need.

Real World Graphicsoffers a few Web apps to help you create icons or favicons (those tiny little symbols you often see on websites and in social networks).

Sherv.netoffers Icon Maker, which can be ideal for those who are building a company around their personal name and identity. It will let you take your photo into a cartoon-like drawing. It might work well for those building a Facebook page, too. Admittedly, this one is more of a fun creation tool and not a serious branding option.

Logo Snapis another service that appears to be mostly free, but they do ask for a donation. They run a fee-based service called Logo Design Guru with packages starting at $149.

LogoYeshas one of the more sophisticated tools for building a logo on your own. Their logo file package is $69. Creation of the logo is free and they let you keep changing it until you’re satisfied, then go through the registration process.

LogoBlogis a free logo creator similar to CoolText and Flaming Text. No registration, just download your completed font logo in a few different formats.

GRSitesoffers logo creation, text box creation (such as for a sidebar or additional column area on your blog or site), and other design features like textures. They do ask for a link back to their site, but offer some nifty tools. 

VistaPrint, the well known print company, has a free logo creation service when you use it on one of their products, such as a business card. However, it is only $24.99 (at full retail, often discounted) and you get four versions of it: color, black and white, vertical and horizontal.

Tweakoffers a completely free logo creator for a low-resolution JPEG image file. If you want a higher resolution JPEG or an EPS file for a high quality print job, you can purchase them for $9.95 and $29.95, respectively. Fast and easy to create, focused on font specific layouts, and you have to register to get to the download page.

Paid

LogoWorksis a service of HP (yes, the computer giant). They spell out a very detailed process, which inspires confidence. Plus, they have customer feedback and ratings right alongside each package choice. They have designed over 45,000 logos; packages start at $299. HP also offers LogoMaker, a free logo creation service with an upgrade plan of $49. It is not the same as the custom effort you get with Logoworks, however. Info availablehereon LogoMaker.

AAA Logois software you can purchase and run on your desktop. You can start with a free trial or purchase for $49. Good examples page to give you ideas about what’s possible.

Free Logo Servicesstates that your logo is free to create, but for unlimited use the cost is $39. I wasn’t sure how this would work, so I tested it. I didn’t get far because the terms and conditions state: “You may use this Site to generate a Logo that you may review and edit at no cost. You will then be offered the opportunity, for a fee, to purchase a package (the “Logo Package”) which includes the right to copy and use the Logo for your business…”  The tools may be worth it for you to try out. Logos start at $39.  It shows BBB reliability and 100,000+ satisfied customers.

LogoDesign Studiooffers a designer-centric approach; you click on each designer’s portfolio to get an idea of their style. Packages start at $69.97.

LogoSmartzis a desktop logo creator that lets you build a logo from scratch or from hundreds of pre-built templates. There is a free trial, then it costs $39.95. They also offer a custom design logo service starting at $99.

Macware LogoDesign Studiois a desktop logo design software for the Mac. The basic edition starts at $34.99.

MyLogoMakerfrom Avanquest has 2,100 logo templates, 9,100+ shapes and objects, and comes with a business card software as a bonus feature. It has a free download trial, sells for $29.95, and has a 90-day money back guarantee.

Logo Design Guaranteedoes what their name states. They give you a 90-day, 100 percentmoney back guarantee and they provide six different logo design concepts for a $49 starter package. The site shows the“offer” expires at the time of this post; however, it appears that changes daily.

Logo Mojo(a division of Deluxe) has a starter package at $195 which includes six concepts, two rounds of changes, and a three-day turnaround. They offer other artwork services, too, including Twitter backgrounds and Facebook profile images.

Logo Design Teamstands on its in-house design team, as opposed to a freelance team of people spread around the globe. They offer a $149 start price. I found it interesting that they have a“logo repair” service where they will update your existing logo, refreshing it to something modern and hip.

Infinity Logo Designdoes a good job of explaining how the logo design process works and what you can expect. Their packages start at $99 and include unlimited revisions on the two concepts they provide you. There is a 100 percent guarantee.

Logoinnhas a super budget category for startups: only $45 for one logo concept, but only one revision. Of course, they have a 100 percent guarantee, so you’re safe in giving it a try. The little asterisk next to this package shows you get your money back within 21 days, not instantly.

99 Designshas a unique approach to logo design. They create a contest. You describe your requirements, and dozens of designers submit logo design concepts for you to review. You provide feedback (which I presume creates revisions), and then you choose and pay for the one you like the best. Starts at $295.

Business Logostood out because they have a brief questionnaire after you select a paid package (starts at $99) so that they can understand your business and vision.  While several others asked for you to share details this way, theirs was quick and focused.

Keep us posted on which tools and apps you use by sharing them in the comments.

Source

What the Heck is an“App”?

This series is commissioned by UPS.

Recently I spoke at an event and used the word“app” in my remarks.  Afterward, someone approached me and said, “I enjoyed your talk… but, can you please explain, what is an‘app’?”

Talk about a reality check!  It was like getting a bucket of cold water in my face.  It was a perfect reminder of a lesson I know to be true and often preach, but in this case didn’t live up to.  That lesson is:  we sometimes throw about the latest tech words that we assume others will know, because we spend much time online and dealing with technology and the words are common to us.  But the general population may still consider words such as“app” to be unintelligible lingo.

In January 2011, the American Dialect Societynamed“app” the word of the yearfor 2010.  That action alone says a lot.  Being named word of year signifies that a term is trendy and growing in popularity.  However, just because the use of a word is growing, we shouldn’t assume that everyone knows it— yet.  That’s because being named word of the year also implies that the word isnewlyprominent.  If the word were utterly commonplace like“dog” or“cat” it wouldn’t have been singled out.  Therefore, we should recognize that not everyone will know the word“app” at this point.

So I am going to try to explain what an app is.  The word app is a noun, and it’s short for“application.”  Application in this case refers to a software application— in other words, a software program.

But an app is not just any old software program— it’s a special type of software program.  An app typically refers to software used on a smartphone or mobile device such as the Android, iPhone, BlackBerry or iPad, as in“mobile app” or“iphone app.”  But the  phrase“Web app” or“online app” is also used in a business setting as an abbreviation for“Web application” or“online application”— meaning software that you access and use while online, via a browser, instead of software residing on your computer (such as Microsoft Word).

We could get more esoteric, asthis definition does, preferring to think of an app (at least in the sense of an app used on a mobile device) as being a“shortened” or narrow software application, that perhaps does just one function or that provides a small bit of entertainment.  While that definition holds some appeal when referring to mobile devices, it doesn’t really address the word“app” when used in the sense of an online software service.

For small-business purposes, we don’t need to get complicated.  For most of us, it’s sufficient to think an app as being a software program that you use online or on mobile devices.

Now that we’ve got that figured out, the next question you’re probably asking is“why should I care about apps?”  Two good reasons:

(1) Web apps or online appscan be a faster, cheaper, more efficient way of deploying software in your business.  Rather than buying a software license, having to install it on your servers or local computers, keeping up with updates— all of which can be expensive and take time— you can simply go online and sign up for an account.  In a few minutes you are using the software.  And typically you pay a monthly fee, meaning that you don’t have to pay license fee up front.   For more on what you can do with Web applications, read: How Small Businesses Use Web Apps– and What to Look For.

(2) Mobile appsextend the reach and productivity of your business.  Once you equip your mobile device and/or your employees’ mobile devices with apps, then you and they can perform all sorts of business functions while out of the office traveling, on sales calls, making service calls, etc.  Check out:10 Ways to Use Mobile Devices to Run Your Business.

So the next time someone bandies about the term“app” you’ll be in the know.  More importantly, perhaps you’ll be in a position to say,“Oh sure, we use all sorts of apps to run our business better.”

Source

14 New Awards and Contests for #SMBs and #Entrepreneurs

This list of contests, competitions and awards for small businesses is brought to you every other week as a community service bySmall Business TrendsandSmallbiztechnology.com.

-
* * * * *

Amazing Entrepreneur Business Plan Competition
Enter by March 10, 2011

The Amazing Entrepreneur Business Plan Competition sponsored by CEO Business Centers in partnership with the Gwinnett Chamber Economic Development and the Small Business Development Center is open to individuals who currently own and manage a new small business in Gwinnett County. The grand prize includes one free year in an office at a CEO Business Center site, a one-year Gwinnett Chamber membership, participation in the Chamber’s small business program, and thousands of dollars in in-kind professional services and accounting software. Finalists will receive certificates for services at CEO Business Centers.

Uprinting’s Small Business Sweepstakes
Enter by March 13, 2011

“Like” Uprinting on Facebook for a chance to win a 16GB Apple iPad with WiFi to help you manage your business on the go and $1,000 worth of printing to market and promote your business.

Cartier Women’s Initiative Awards
Enter by March 15, 2011

The Cartier Women’s Initiative Awards is an international business plan competition that every year recognizes five female entrepreneurs, one for each region: Africa, Asia, Europe, Latin America and North America. Each Laureate receives coaching support for a full year, in addition to $20,000 in funding and an exclusive trophy designed by Cartier.

The business project to be considered for The Cartier Women’s Initiative Awards is as follows:
- An original for-profit business creation
- In the startup phase (at least one year old, no older than three)
- The main leadership position must be filled by a woman

BLOB– Best Locally Owned Business Awards
Enter by March 18, 2011

The 2011 BLOB Awards are hosted by Fresno Regional Independent Business Alliance (FRIBA), a group of local business owners who have joined together to educate the community about why it is important to support locally owned and independent businesses. See website for details and voting categories.

Miami Herlad Business Plan Challenge
Enter by March 25, 2011

Have you hatched a great idea for a business? If your business is less than 2 years old or exists only on paper, you can enter the 13th Annual Miami Herald Business Plan Challenge, co-sponsored by Florida International University’s Pino Global Entrepreneurship Center.

The competition has three tracks: A Community Track open to anyone in South Florida; an FIU Track open to students and alumni of the university; and a High School Track for grades 9-12.

Panels of judges will select the three best business plans in each track based on both the quality of the idea and the submitted plan. Readers will be able to vote online at MiamiHerald.com for a“People’s Pick” winner in the community and FIU tracks.

Small Business Excellence Awards
Enter by March 25, 2011

Each year the Chamber recognizes the accomplishments and innovation found in the small business segment of our business community at its Small Business Excellence Awards. This year’s awards will be presented on Tuesday, May 24, 2011, at the Millennium Hotel in downtown Cincinnati. Companies can apply for consideration in two of the following categories:

• Emerging Business of the Year – must be in business five years or less
• Minority Business of the Year – must be a certified MBE
• Nonprofit of the Year – must submit a 501(c) form
• 10 Under 10 – 10 businesses with fewer than 10 employees
• Small Business of the Year – 1 to 50 employees
• Small Business of the Year – 51 to 250 employees
• Community Involvement Award

Where Will .com or .net Take Your Business?
Enter by March 28, 2011

Verisign is hosting an international contest for small businesses to compete for a chance to win $25,000 (USD). The contest asks small businesses to address the question,“Where will .com or .net take your business?” Entrants can visit www.DotComForSmallBiz.com or www.DotNetForSmallBiz.net to submit photos and essays addressing the contest theme.

Brother Share Your Bigger Picture Contest
Enter by March 29, 2011

The“Share Your Bigger Picture” contest offers individuals an opportunity to win a $10,000 business grant or one of five weekly prize packs including a $500 Apple® gift card and a Brother MFC-J6710DW inkjet all-in-one printer with 11″ x 17″ capabilities. Participants can enter two ways: commenting on the contest blog or retweeting messages on Twitter. For more details visit the contest website.

Ninth Annual American Business Awards
Enter by March 31, 2011

The American Business Awards are the only all-encompassing awards program that honors outstanding performances in the American workplace. All organizations operating in the U.S. are eligible to submit nominations– public and private, for-profit and nonprofit, large and small. The 2011 awards will honor work since the beginning of 2010, and the awards will be announced on June 20 at the Marriott Marquis Hotel in New York City.

Nominations are accepted in various categories including management awards, public relations awards, marketing awards, new product awards, HR awards, IT awards, website awards and more. New categories in 2011 include Executive of the Year– Health Products& Services and Best New Product or Service of the Year– Health Products& Services, as well as more than 40 new Marketing Campaign of the Year categories.

R U Gen Z (Generation Zuckerberg) Video Contest
Enter by April 1, 2011

Internet entrepreneur Marc Ostrofsky has launched the R U Gen Z (Generation Zuckerberg) video contest offering over $10,000 in prizes. The R U Gen Z video contest encourages students and struggling job seekers who have the drive and desire to be their own boss to embrace their Zuckerberg-like passion for entrepreneurship. In these videos, students are invited to express frustrations with today’s economy and tout the benefits of being one’s own boss.

Videos can be submitted online immediately at the contest website and will be judged by a group of panelists made up of students from the University of Houston’s Wolff Center for Entrepreneurship. The first-place winner will receive $5,000; $2,500 will go to the second-place winner, and numerous other $1,000 prizes will be distributed.

Rhode Island Business Plan Competition 2011
Enter by April 4, 2011

The Rhode Island Business Plan Competition, open to everyone, seeks to promote entrepreneurship and development of startup and early stage companies. Winners and finalists in the 2010 Competition shared more than $195,000 in prizes.

Small Business Advocate of the Year Award
Enter by April 15, 2011

Each year, the CalChamber recognizes several small business owners who have done an exceptional job with their local, state and national advocacy efforts on behalf of small businesses.

The CalChamber will recognize the award winners at its Business Summit on June 1 in Sacramento. The nomination form is available on theCalChamber websiteor may be requested from the Local Chamber Department at .

AMD Visionary of the Year Awards
Enter by April 30, 2011

AMD has announced its first ever VISIONary of the Year Awards, honoring innovation in the three passion categories of Foodie, Photography and Entrepreneurship.

Eligible voters can vote and enter to win one-of-a-kind category prizes, including the ultimate culinary trip to New York City (Foodie category), a $4,000 technology shopping spree (Entrepreneur category), a $4,000 camera (Photographer category), as well as AMD’s $10,000 grand prize.

2011 Small Business Awards
Enter by May 20, 2011

In its 6th year, The New York Enterprise Report Small Business Awards honors the achievements and accomplishments of the 500,000+ small businesses throughout the tri-state area. In addition to the Best of the Year Categories, the New York Enterprise Report Small Business Awards will honor 9 small businesses for their accomplishments and best practices.

The Conway Center for Family Business Awards
Enter by August 4, 2011

The Conway Center for Family Business Awards Program was established in 1998 to recognize excellence in family business and has honored more than 115 Central Ohio family businesses during its first 11 years.

Since the 2009 awards, the program honors recipients in categories consistent with the success and longevity of a family business: leadership, planning, communication, support and community service. For more details see the website.

To find more small business events, contests and awards, visit ourSmall Business Events Calendar. In addition, we also have a giveaways page; click to learn more about oursmall business giveawayssection.

If you are putting on a small business contest, award or competition, and want to get the word out to the community, please submit it through ourSmall Business Event and Contests Form. (We do not charge a fee to be included in this listing. )

Please note: The descriptions provided here are for convenience only and are NOT the official rules. ALWAYS read official rules carefully at the site holding the competition, contest or award.

Source

Small Business News: Online Video For Your Business

Are you using online video for your small business? You may soon find yourself far behind the pack if you aren’t. Video may not only give your business advantages when it comes to the search engines but increasingly video is attracting huge audiences online, audiences that could be looking at your video as well. And as online content goes, people love to share it, giving messages in video format an even greater potential of going viral. Want to learn more about online video and what it can do for your business? Then read on…

Viral News

Ideas worth spreading in video form. A well-known non-profit focusing on spreading great ideas has decided to hold a contest selecting the videos that do it best. Winners were to be announced tonight at TED’s annual conference in Long Beach, Cal. Stay tuned for more about the winners and a look at their creations. Can you think about how video could spread your small business brand and message more effectively?NYTimes.com

Videos on which to model your viral message. And the results are in! Here’s the post about the winners of TED’s“Ads Worth Spreading” contest announced at the organization’s annual conference in Long Beach this evening. There’s also a link to their work, so get inspired! What can your small business learn about crafting a video that spreads your message? Which of the videos had the greatest impact on you?TED Blog

Getting Started

Why your business needs video. Chris Hamilton claims he started putting video on his sales blog because it was faster and easier than organizing a written post. Then he got a hold of some statistics. If you want some data showing why you need to be using online video as a tool for your business, Chris’s latest production is guaranteed to energize you. Are you excited about the possibilities of video yet?A Sales Tip A Day

YouTube for PR and marketing. Turns out the world’s biggest video sharing community has a lot more to offer than cute kitten clips and three minute snippets from your favorite music group or TV program. In fact, YouTube is also a great tool for your small business, one that can boost your visibility for free with a HUGE potential audience. Learn more about how to use YouTube and other video sharing sites as a key tool to get your message across today.Small Business Marketing Tools

Ten tips to boost your video marketing campaign. OK, you know online video is important for your small business. Now, how can you get started creating a video marketing campaign that will spread your marketing message and bring in customers by the droves? As it turns out, it may not be as hard as you think. Here’s how to get started as a first rate video marketer today.Best Video Marketing Ideas

Legal

Legal issues when using online video. Use of online video as a marketing tool brings up many legal issues, not least of them copyright infringement. But plenty of other issues also exist when launching a video marketing campaign. Ignorance of these issues can lead to litigation, stiff penalties and, of course, loss of your business as a result. So knowing the issues ahead of time can be critically important.Search Engine Land

Is your online video legal? So you’ve created that latest video interview or other footage you are sure will be the next online viral rage. But how do you know you are steering clear of copyright issues by even putting it on the Web? Fact is, many people who use video today may be largely unaware of the implications of its use. To protect yourself, check out this post (with video interview) on the basic dos and don’ts.ReelSeo

Metrics

What to look for when measuring results. Counting the number of people who watched at least part of your video on YouTube may not be the absolute best way to determine its success or failure in terms of generating sales. If you’re wondering how to sort out the impact of your online video marketing campaign, start by looking at some of the questions that can’t be answered by simply looking at how many people watch your video. You may be surprised at the results.Online Video Insider

Resources

Boston startup serves small business video niche. If you’d like to get your small business involved in online video marketing but find yourself a bit intimidated and in need of someone to do some of the heavy lifting, a Boston start-up called Pixability may be just the resource you need. Create your own raw footage and let Pixability create a video masterpiece from your work complete with editing, logo and music. Read the full story on what the company offers. Boston Globe

Success Stories

How some brands are already using online video for marketing success. This post looks at how the novelty is wearing off when it comes to online video and its marketing value and how some big brands have already clearly gotten the message. Have a look at how recognizable brands are seeing big successes in the online video marketing realm. What can your business do to get involved?B2C Marketing Insider

Source

One on One: Tim Berry of Palo Alto Software

Welcome to another in our One on One series of conversations with some of the most thought-provoking entrepreneurs, authors and experts in business today. Tim Berry, President and Founder ofPalo Alto Software, spoke with Brent Leary in this interview, which has been edited for publication. To hear audio of the full interview, page down to the loudspeaker icon at the end of the post.

* * * * *

Small Business Trends: Tim is also Founder of Bplans, is a co-founder of Borland International, writes a column for Entrepreneur magazine, and blogs for SmallBizTrends. Tim, why don’t you give us a little bit of your background?

Tim Berry:I started as a journalist, working for UPI and Business Week. Then I got an MBA from Stanford and fell in love with business planning, {which led to} consulting for a few years, then to software. Palo Alto Software was incorporated in 1988, starting with Business Plan Pro business plan software.

Small Business Trends: What was the environment like in Silicon Valley in that time?

Tim Berry:There was an atmosphere where everybody felt like they could get rich. There was so much optimism. It was the birth of a new industry. I feel like that today, with how relatively cheap new venture and web apps are, social media and this new business landscape.

Small Business Trends: You started Palo Alto Software because you had a love of business planning.

Tim Berry:Business planning is a culmination of stories, which I loved, and numbers, which I also love. You can’t do the business plan without both words and numbers. When you do it right, you tell stories and then make them come true.

Small Business Trends: If you were starting the same kind of business today, what do you think you would be doing differently?

Tim Berry:It seems so much easier today. I was constrained in the old days by the platforms and the computing. I did it cheaply based on macros–I wrote the macros and published and did the disks and did the documentations and grew it slowly without investment.

Small Business Trends: You eventually took on investors; then you went back to being privately owned. Can you talk a little bit about that?

Tim Berry:When the whole dotcom boom came, I was one of those that got it wrong. In 1999, Palo Alto Software had BPlans.com, the world’s largest free business planning site. We were getting lots of eyeballs, and the investor community was going crazy over eyeballs. So we took some investment {planning to leverage it and} exit based on the evaluations of 1999.

Well, the world changed and a couple of years later we found ourselves majority owners of a company whose valuations had gone down. We (my wife and I) loved the company and didn’t want to sell it. We negotiated a way to buy our VC partners out, which wasn’t easy, but we made it happen and everybody stayed friends. I think there is a lesson here: Every business alliance has to be based on compatible goals. Our goals {and our investors’ goals} were compatible in 1999, but two years later they weren’t.

Small Business Trends: Until about four years ago you were CEO of Palo Alto Software, but you brought somebody on to take over that role.

Tim Berry:I built a software company based on what I knew how to do with a lot of support from my wife. We never thought of it as a family business. But we have five children and as they grew up, they became involved. Sabrina Parsons, our second daughter, joined the company in 2002. Sabrina has been CEO since April 2007. We have a very nice relationship. My job is writing, speaking, teaching, blogging, Twitter, thought leadership, business planning; Sabrina manages the company as CEO.

Small Business Trends: You are now Chief Blogging Officer. How has that impacted Palo Alto Software and your life?

Tim Berry:Constant content generation is important, particularly for a company like ours, whose software is based on expertise. If we don’t stay fresh in following new trends in business planning, that is a danger. One of the biggest myths is that people who are running companies are supposed to blog in their spare time. No… it takes time. You have to set aside time for it. And it’s been good for the business, because we have grown.

Small Business Trends: What are some of the key things entrepreneurs need to be concerned about today when it comes to business planning?

Tim Berry:Number one, you have got to erase all of that fear and doubt mystique around the business plan. People think of a business plan as it was in the 80s, as a document that you showed investors or bankers. That’s obsolete. But business planning is not obsolete. Business planning is needed more than ever. Business planning is managing and steering your business based on a culmination of strategy and steps, metrics and accountability, and regular review and revision.

Small Business Trends: You blog in a number of places. Where can people read some of the things you are writing about?

Tim Berry:My main blog isTimBerryBplans. My second isUpAndRunningEntrepreneur. The siteBPlansis a repository for thousands of my articles over the last 15 years. The siteTimBerryserves as a hub for that. And my company isPaloAlto.

Source

Handling Tough Conversations in 3 Simple Steps

“What’s the hardest part of your job?”

“Tough conversations,”he answers with a sigh.

There it is again. Over the last six years, I’ve been conducting an informal survey in Fortune 500 companies. I keep expecting managers to say their biggest challenge is something like,“Keeping control of the budget.”

But toughconversationscontinue to be a serious issue. No matter your industry, or your position in an organization, engaging in important or difficult conversations is an uncomfortable aspect of our jobs.

Why?Conflict makes most people nervous, so we avoid having those tough conversations, even if we know it may produce a better outcome. A study of more than 1,000 project managers across 40 companies found that if project leaders were willing to break a code of silence, they could substantially improve their ability to execute on initiatives. This included over 2,200 projects, from $10,000 IT projects to billion-dollar restructuring efforts.

But what did the code of silence surround?The key problems that lead to most project failures: unrealistic deadlines, sponsors without internal influence, or unsupportive teams. These issues should have been addressed immediately. But the code of silence allowed them to balloon into major problems.

We have many reasons to avoid difficult conversations:

“If I ignore it, perhaps it will go away.”

“She’s so busy. I shouldn’t waste her time.”

But what happens then? The behavior continues. Many managers have admitted they are uncomfortable addressing even small issues: coming in late, failing to collaborate, and believe it or not, personal hygiene!

They avoided the issue until they had to involve HR. What a disservice to the employee, the organization and themselves! One small conversation, though uncomfortable, could have turned that person around—saved a career and avoided the need for costly actions by the organization.

Honest conversations build trust and appreciation. Everyone can tell a story about someone giving them straightforward advice. It stung at the time, but gave us insight into others’ perceptions. What a gift! Those tiny conversations are often the turning point in a life or career.

Coaching Isn’t Telling

Coaching techniques ease the pain of tough conversations. Coaching is different than supervision. It is not abouttellingsomeone what to do. It is about two people working together toward a positive outcome in performance, behavior or relationships.

Connect, learn, act. Follow these three simple steps every time you engage in a tough conversation. It creates an environment of trust, reminds you to listen more than tell, and creates a proactive action plan.

Step 1: Connect

Identify an opportunity to help.

What performance metric or behavior needs to be discussed? Example: John’s been coming in late.

“John, I’ve noticed that you’ve been arriving about 15 minutes late for two weeks.”

Are you both prepared?

Pay attention to the setting and mood. If it’s not right, set a different time.

“I’d like us to sit down and talk. Can we do that now, or would it be more convenient during lunchtime?”

State your positive intentions.

Let the person know that this is not punitive.

“John, I value everything you bring to our team. I want us all to work together.”

Step 2: Learn

Uncover perceptions.

Ask open-ended questions. They require long, narrative answers and are the opposite of closed-ended (“yes/no”) questions.

“John, could you please tell me about your mornings and your commute?”

Listen reflectively.

Reflections clarify your understanding.

“What I hear you saying is that your wife’s new job is farther away. You’ve had to reverse morning duties permanently. Tuesdays are tough since the kids take a special bus. Is that right?”

What strengths can be leveraged now?

“You are one of the best people on the team for time management. Could you use some office strategies for your mornings?”

Create a vision.

Get a picture of the perfect outcome that you can both agree upon.

“John, if you could describe a perfect week, with you fulfilling your family’s needs and being a reliable team member, what would it look like?”

Brainstorm ideas to make it happen.

“Your kids could stay at the neighbor’s for 10 minutes some mornings. We knowTuesdays are tough for you so we’ll make a 15-minute cover plan. We’ll ask Janice, our intern, to cover your desk on certain mornings. We could team-teach your expertise so others can answer questions, etc.”

Step 3: Act

Take action.

Reiterate why you’ll be taking action immediately.

“We’re making a plan right away for this new schedule because we can’t be left without technical expertise, and we want your family to have a comfortable routine. We also want the team remain supportive of you.”

Collaborate on next steps.

Choose one action for each of you to take.

“John, I’ll speak with Janice today about covering your desk on Tuesdays. You contact your neighbor to trade mornings.”

Discuss how to be successful.

“Please share your new schedule with the team. They need to understand so they don’t make up reasons.”

Set a SMART (Specific, Measurable, Action-based, Realistic, Time-bound) goal.

“I will speak with Janice by the end of today. She’ll cover your desk tomorrow. Please tell the team today about your challenges and your plan. By Friday, we’ll discuss your full plan. Then on the following Monday, you can present to the whole team.”

Commit to follow-up.

“Let’s set a meeting for next month. We’ll assess how it’s going for you, the team and your family.”

Enjoy the Collaboration

One important tip to remember: The step people usually want to skip over isLearn. People want to get to a solution quickly, and we all believe we know best, right? So after supervisors make a connection, they often starttellingthe person what to do. Instead, be a coach. There may be a far better process or solution inside the mind of the person you are coaching. This person has to come to a solution themselves. Enjoy learning just how creative and collaborative your team can be, and enjoy the outcomes of those conversations.

Source