CAN Capital Blog

We've been at this since 1998 - we have a lot to share
20 Marketing Ideas for Small Businesses

As a small business owner, you know that every penny counts. But marketing is one of the most important aspects of growing your company and staying competitive in the marketplace. You need to find ways to connect with potential customers without spending a lot of money on advertising. In this post, we'll share 20 budget-friendly marketing ideas for small businesses that can help grow your brand and boost sales over time. But before you can start a successful marketing strategy, you need to do two things: Do a Deep Dive The first step to marketing your business is learning about your customers. You need to understand who they are, their needs, and how you can deliver on them. Here are some questions that might help: What are the pain points of your customers? What do they want from your business? How can you deliver on these wants and needs? Research Your Competitors Next, you'll want to find out what your competitors are doing, especially if they're growing their businesses. You can do this by: Visiting their website to look at the products or services they sell. How do they compare to yours? Looking at their social media posts- What do they post? What is their voice? What type of engagement do they get? Checking out their online reviews and what others are saying about their products or services. Now that you know your customer and your competitor, you can build your content strategy. You'll want to create content that is meaningful, interesting, entertaining, and helpful; this means you should create a content strategy based on your customers' needs. So, here are those 20 marketing ideas we promised: Check your website for needed updates. This should be something that is consistently on your radar. Big picture, make sure your website feels new, is up to date, search engine optimized (SEO), and is mobile friendly. Add a pop-up to your website to capture lead data. In exchange for an email, offer something, like a discount or exclusive information. Write blog posts that offer incite for your customer and appeal to Google. There are a lot of factors Google takes into account when ranking websites and putting them in order in a user's search results. To be ranked higher, pay special attention to SEO (search engine optimization) and show authority for specific keywords. Ask your customers to share their positive experiences that will encourage others to try out your small business. You can utilize systems like Trustpilot, Yelp, or Google to capture and share these reviews with others. Emails, emails, emails. Ok, not many emails, but a responsible amount to stay engaged with a customer or potential customer. Be sure your subject line is attention-grabbing and encourages them to open your email. Put thought into your emails, make them relevant, and change the format to keep them interesting. Maybe even try out an interactive email. Send a weekly or bi-weekly newsletter that keeps you in front of your customer. Use this consistent communication to share updates on your brand, products, or other information. You can even use it to share your recent blog post and request your product/service reviews. Be sure your customers can find you everywhere and that your info is correct. If you don't already, set up a business page on all social networks (Facebook, Linkedin, Instagram, TikTok, etc.) Check that your business information is easy to find and accurate on your website, all social platforms, and search engines. If you aren't in business-related directories, sign up! Make a private Facebook group if it is suitable for your business customers. This will provide a place where you can share unique information with your customers, and they can interact with you directly. Host giveaways on Instagram where you give away an item for follows, likes, and comments. It's simple - pick a great giveaway, post it on Instagram, and for entry, the customer has to follow your page, like the post, and tag a friend in the comments. The more engagement on your post, the more views it gets. Go live on social media to engage with your customers in real-time. Live streaming gives you the opportunity to gain a larger audience while sharing your products and services, answering your customer's questions, and connecting with conversation. Take video further than YouTube by posting Instagram Reel and TikToks. They don't have to be a massive production with epic editing; keep it simple and short! Capture behind-the-scenes footage, share product/service features, call out customer review highlights, etc. Publish video tutorials or explainer videos that relate to your product or service. There are many available apps that make this easier than you might think. It's another excellent opportunity to use video marketing to grow your business and your authority in your field. Use social media trending topics, hashtags, and audio when creating your content on Instagram, TikTok, and Twitter. Be sure you do it early, so you're not lost in the millions of other posts as the trend grows stale. Post polls on social media to encourage engagement and to help you learn more about your audience or just for fun. Create a tool that's helpful to your audience. When you offer something to your customer in exchange for their name and email, it's called a lead magnet. The options for a lead magnet are vast, depending on your business. A coupon, a free webinar, an eBook, a free sample, a guide (like our guide to Equipment Financing)… be creative and make it appealing to YOUR customer. Begin a customer referral program to encourage your customers to spread the word about your business. In return for a referral, you can offer things like a discount, a free product, a reward, or use a points system. Start a Podcast to establish your authority in the field of your business. This is another great interactive marketing tool to help get you in front of millions of potential customers. Make them interesting and educational… listeners usually want to learn something. Try out digital Ads on social media and search, but when creating them, don't treat them the same. Do your research, or hire a pro, before putting money into digital ads. Facebook algorithms run much differently than Google, so you'll want to know what they're looking for when pushing your content out. Also, some businesses succeed with click-to-messenger ads, so you'll want to see if that would work for your business. Attend trade shows or other events relevant to your business as an opportunity to network and get your business name out there. Whether you set up a booth, sponsor, or just attend, take advantage of these events to meet new customers and business affiliates, and learn more about your field, community, or customer. Try co-marketing with a local business that isn't a competitor but has a complementary product or service to yours. Work together to use cobranded assets to market each other on social pages, emails, or blogs. As you can see, there are many ways to market your small business. And it doesn't have to be expensive! You just need some creativity and a willingness to experiment with different tactics. If one doesn't work out for you, try another, and keep trying until something clicks. Keep an eye on the analytics and the ROI, and you'll find what works best for your business. We hope this list has inspired you with some new ideas or ways to build on old ones that will help take your marketing to a new level.    

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20 Marketing Ideas for Small Businesses

As a small business owner, you know that every penny counts. But marketing is one of the most important aspects of growing your company and staying competitive in the marketplace. You need to find ways to connect with potential customers without spending a lot of money on advertising. In this post, we'll share 20 budget-friendly marketing ideas for small businesses that can help grow your brand and boost sales over time. But before you can start a successful marketing strategy, you need to do two things: Do a Deep Dive The first step to marketing your business is learning about your customers. You need to understand who they are, their needs, and how you can deliver on them. Here are some questions that might help: What are the pain points of your customers? What do they want from your business? How can you deliver on these wants and needs? Research Your Competitors Next, you'll want to find out what your competitors are doing, especially if they're growing their businesses. You can do this by: Visiting their website to look at the products or services they sell. How do they compare to yours? Looking at their social media posts- What do they post? What is their voice? What type of engagement do they get? Checking out their online reviews and what others are saying about their products or services. Now that you know your customer and your competitor, you can build your content strategy. You'll want to create content that is meaningful, interesting, entertaining, and helpful; this means you should create a content strategy based on your customers' needs. So, here are those 20 marketing ideas we promised: Check your website for needed updates. This should be something that is consistently on your radar. Big picture, make sure your website feels new, is up to date, search engine optimized (SEO), and is mobile friendly. Add a pop-up to your website to capture lead data. In exchange for an email, offer something, like a discount or exclusive information. Write blog posts that offer incite for your customer and appeal to Google. There are a lot of factors Google takes into account when ranking websites and putting them in order in a user's search results. To be ranked higher, pay special attention to SEO (search engine optimization) and show authority for specific keywords. Ask your customers to share their positive experiences that will encourage others to try out your small business. You can utilize systems like Trustpilot, Yelp, or Google to capture and share these reviews with others. Emails, emails, emails. Ok, not many emails, but a responsible amount to stay engaged with a customer or potential customer. Be sure your subject line is attention-grabbing and encourages them to open your email. Put thought into your emails, make them relevant, and change the format to keep them interesting. Maybe even try out an interactive email. Send a weekly or bi-weekly newsletter that keeps you in front of your customer. Use this consistent communication to share updates on your brand, products, or other information. You can even use it to share your recent blog post and request your product/service reviews. Be sure your customers can find you everywhere and that your info is correct. If you don't already, set up a business page on all social networks (Facebook, Linkedin, Instagram, TikTok, etc.) Check that your business information is easy to find and accurate on your website, all social platforms, and search engines. If you aren't in business-related directories, sign up! Make a private Facebook group if it is suitable for your business customers. This will provide a place where you can share unique information with your customers, and they can interact with you directly. Host giveaways on Instagram where you give away an item for follows, likes, and comments. It's simple - pick a great giveaway, post it on Instagram, and for entry, the customer has to follow your page, like the post, and tag a friend in the comments. The more engagement on your post, the more views it gets. Go live on social media to engage with your customers in real-time. Live streaming gives you the opportunity to gain a larger audience while sharing your products and services, answering your customer's questions, and connecting with conversation. Take video further than YouTube by posting Instagram Reel and TikToks. They don't have to be a massive production with epic editing; keep it simple and short! Capture behind-the-scenes footage, share product/service features, call out customer review highlights, etc. Publish video tutorials or explainer videos that relate to your product or service. There are many available apps that make this easier than you might think. It's another excellent opportunity to use video marketing to grow your business and your authority in your field. Use social media trending topics, hashtags, and audio when creating your content on Instagram, TikTok, and Twitter. Be sure you do it early, so you're not lost in the millions of other posts as the trend grows stale. Post polls on social media to encourage engagement and to help you learn more about your audience or just for fun. Create a tool that's helpful to your audience. When you offer something to your customer in exchange for their name and email, it's called a lead magnet. The options for a lead magnet are vast, depending on your business. A coupon, a free webinar, an eBook, a free sample, a guide (like our guide to Equipment Financing)… be creative and make it appealing to YOUR customer. Begin a customer referral program to encourage your customers to spread the word about your business. In return for a referral, you can offer things like a discount, a free product, a reward, or use a points system. Start a Podcast to establish your authority in the field of your business. This is another great interactive marketing tool to help get you in front of millions of potential customers. Make them interesting and educational… listeners usually want to learn something. Try out digital Ads on social media and search, but when creating them, don't treat them the same. Do your research, or hire a pro, before putting money into digital ads. Facebook algorithms run much differently than Google, so you'll want to know what they're looking for when pushing your content out. Also, some businesses succeed with click-to-messenger ads, so you'll want to see if that would work for your business. Attend trade shows or other events relevant to your business as an opportunity to network and get your business name out there. Whether you set up a booth, sponsor, or just attend, take advantage of these events to meet new customers and business affiliates, and learn more about your field, community, or customer. Try co-marketing with a local business that isn't a competitor but has a complementary product or service to yours. Work together to use cobranded assets to market each other on social pages, emails, or blogs. As you can see, there are many ways to market your small business. And it doesn't have to be expensive! You just need some creativity and a willingness to experiment with different tactics. If one doesn't work out for you, try another, and keep trying until something clicks. Keep an eye on the analytics and the ROI, and you'll find what works best for your business. We hope this list has inspired you with some new ideas or ways to build on old ones that will help take your marketing to a new level.    

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Marketing Others Finances
Marketing
20 Marketing Ideas for Small Businesses

As a small business owner, you know that every penny counts. But marketing is one of the most important aspects of growing your company and staying competitive in the marketplace. You need to find ways to connect with potential customers without spending a lot of money on advertising. In this post, we'll share 20 budget-friendly marketing ideas for small businesses that can help grow your brand and boost sales over time. But before you can start a successful marketing strategy, you need to do two things: Do a Deep Dive The first step to marketing your business is learning about your customers. You need to understand who they are, their needs, and how you can deliver on them. Here are some questions that might help: What are the pain points of your customers? What do they want from your business? How can you deliver on these wants and needs? Research Your Competitors Next, you'll want to find out what your competitors are doing, especially if they're growing their businesses. You can do this by: Visiting their website to look at the products or services they sell. How do they compare to yours? Looking at their social media posts- What do they post? What is their voice? What type of engagement do they get? Checking out their online reviews and what others are saying about their products or services. Now that you know your customer and your competitor, you can build your content strategy. You'll want to create content that is meaningful, interesting, entertaining, and helpful; this means you should create a content strategy based on your customers' needs. So, here are those 20 marketing ideas we promised: Check your website for needed updates. This should be something that is consistently on your radar. Big picture, make sure your website feels new, is up to date, search engine optimized (SEO), and is mobile friendly. Add a pop-up to your website to capture lead data. In exchange for an email, offer something, like a discount or exclusive information. Write blog posts that offer incite for your customer and appeal to Google. There are a lot of factors Google takes into account when ranking websites and putting them in order in a user's search results. To be ranked higher, pay special attention to SEO (search engine optimization) and show authority for specific keywords. Ask your customers to share their positive experiences that will encourage others to try out your small business. You can utilize systems like Trustpilot, Yelp, or Google to capture and share these reviews with others. Emails, emails, emails. Ok, not many emails, but a responsible amount to stay engaged with a customer or potential customer. Be sure your subject line is attention-grabbing and encourages them to open your email. Put thought into your emails, make them relevant, and change the format to keep them interesting. Maybe even try out an interactive email. Send a weekly or bi-weekly newsletter that keeps you in front of your customer. Use this consistent communication to share updates on your brand, products, or other information. You can even use it to share your recent blog post and request your product/service reviews. Be sure your customers can find you everywhere and that your info is correct. If you don't already, set up a business page on all social networks (Facebook, Linkedin, Instagram, TikTok, etc.) Check that your business information is easy to find and accurate on your website, all social platforms, and search engines. If you aren't in business-related directories, sign up! Make a private Facebook group if it is suitable for your business customers. This will provide a place where you can share unique information with your customers, and they can interact with you directly. Host giveaways on Instagram where you give away an item for follows, likes, and comments. It's simple - pick a great giveaway, post it on Instagram, and for entry, the customer has to follow your page, like the post, and tag a friend in the comments. The more engagement on your post, the more views it gets. Go live on social media to engage with your customers in real-time. Live streaming gives you the opportunity to gain a larger audience while sharing your products and services, answering your customer's questions, and connecting with conversation. Take video further than YouTube by posting Instagram Reel and TikToks. They don't have to be a massive production with epic editing; keep it simple and short! Capture behind-the-scenes footage, share product/service features, call out customer review highlights, etc. Publish video tutorials or explainer videos that relate to your product or service. There are many available apps that make this easier than you might think. It's another excellent opportunity to use video marketing to grow your business and your authority in your field. Use social media trending topics, hashtags, and audio when creating your content on Instagram, TikTok, and Twitter. Be sure you do it early, so you're not lost in the millions of other posts as the trend grows stale. Post polls on social media to encourage engagement and to help you learn more about your audience or just for fun. Create a tool that's helpful to your audience. When you offer something to your customer in exchange for their name and email, it's called a lead magnet. The options for a lead magnet are vast, depending on your business. A coupon, a free webinar, an eBook, a free sample, a guide (like our guide to Equipment Financing)… be creative and make it appealing to YOUR customer. Begin a customer referral program to encourage your customers to spread the word about your business. In return for a referral, you can offer things like a discount, a free product, a reward, or use a points system. Start a Podcast to establish your authority in the field of your business. This is another great interactive marketing tool to help get you in front of millions of potential customers. Make them interesting and educational… listeners usually want to learn something. Try out digital Ads on social media and search, but when creating them, don't treat them the same. Do your research, or hire a pro, before putting money into digital ads. Facebook algorithms run much differently than Google, so you'll want to know what they're looking for when pushing your content out. Also, some businesses succeed with click-to-messenger ads, so you'll want to see if that would work for your business. Attend trade shows or other events relevant to your business as an opportunity to network and get your business name out there. Whether you set up a booth, sponsor, or just attend, take advantage of these events to meet new customers and business affiliates, and learn more about your field, community, or customer. Try co-marketing with a local business that isn't a competitor but has a complementary product or service to yours. Work together to use cobranded assets to market each other on social pages, emails, or blogs. As you can see, there are many ways to market your small business. And it doesn't have to be expensive! You just need some creativity and a willingness to experiment with different tactics. If one doesn't work out for you, try another, and keep trying until something clicks. Keep an eye on the analytics and the ROI, and you'll find what works best for your business. We hope this list has inspired you with some new ideas or ways to build on old ones that will help take your marketing to a new level.    

Finances
20 Tax Deductions for Your Small Business

Tax time can be stressful, especially for a small business owner, and it's important to know possible deductions available to you because every dollar counts— the more you can save with tax deductions, the more cash you have to grow your business! It's best to speak with a tax professional to learn which deductions are most beneficial for your unique business and how to take advantage of them, but to get you started we've put together 20 common deductions for small businesses that may save you money on taxes this year: Marketing: Business expenses related to advertising and marketing may be deductible from your taxes. Companies can now deduct much more money than in the past for advertising and marketing as a general business expense. This includes costs related to things like advertising on social media platforms, creating and distributing content such as videos or podcasts, and search engine ads. Professional Fees: If you hire an accountant or lawyer to help with your business, those fees may be deductible from your taxes. This includes services like filing taxes or legal advice on contract review as long as they're related directly to running the company itself. Business equipment: Small businesses may be able to take advantage of Section 179 of the IRS Tax Code when purchasing or financing equipment or software, which allows businesses to deduct all or some of the purchase price. Employee Compensation: If you have employees, you may be able to deduct their salaries and wages, including bonuses and stock options, from your taxes. Software subscriptions: Most businesses utilize several software subscriptions to run their business, including things like cloud storage, POS, and services like Office 365 or Google Drive— all of which may be deductible. Health insurance premiums: If you cover health insurance premiums for your employees, then you may be able to include them as a business expense on your taxes. Sometimes these amounts are limited, so ask your tax advisor for details. Retirement contributions: Any contributions to a retirement plan for yourself and your employees may be deductible, including contributions to 401(k)s, IRAs, and other types of retirement plans. This is a win for you— getting money back while giving more to your employees. Contractor and Freelancer pay: If you hire contractors or freelancers (like designers or writers), those expenses may also be deductible. Business Travel Expenses: If you travel for business purposes (even if it's just once a year), then this one could save you some serious cash at tax time. Whether commuting to a client meeting, visiting a supplier, or attending a business event— remember to keep all your receipts; they add up quickly! Business-Related Meals: Taking a client to lunch, a working dinner with employees or brunch with a vendor may all qualify as a deduction. Any reasonable meal consumed while conducting business may be deductible —even if those meals are at McDonald’s! Employee or client gifts: Gifts that you give employees or clients for a special event, promotion, or marketing campaign (like t-shirts with your logo on them) may be eligible as business expenses. There is a dollar limit per person, so check with your tax advisor. Bank fees: Those pesky fees related to your business bank account or credit cards— you may be able to add them to your expenses and deduct them! Bad Debt: Any debt that is owed to you by customers or vendors but cannot be collected may be deductible. It's a frustrating part of business, but now might be the time to help offset a bit of the loss. Office supplies: Pens, paper, staples, paper clips, envelopes, ink... all the things you need to get work done and stay organized in the office— all may be deductible! Real Estate Taxes: Owning a business property, like an office or store, may allow you to claim the related real estate taxes as a tax deduction. Business-Related Education: This deduction may be available if you've paid for classes, seminars, or workshops related to your business. You may even be able to deduct the cost of books and materials as long as they're directly related to your work. Utility Bills: Utilities like water bills, electricity bills, gas bills… anything that helps keep your business running may be an eligible deduction. Just be sure to record each utility bill separately to determine how much goes toward each category accurately. Internet Expenses: Whether you run your business from a facility or your home, you may be able to deduct some or all of the costs associated with your internet connection. Phone Expenses: If you use your cell phone for work calls and internet access for business purposes, those expenses could also be tax deductible. Business Rent: If you rent a building or office space where your business is located, those rental costs may be deductible. There is a yearly limit, so consult your tax advisor. All this tax stuff can be tricky, so we urge you to speak with a tax pro to ensure you are taking full advantage of all the available deductions for your business. We thrive on seeing small businesses succeed, so we want you to get every dollar you can put back into your business! *Please contact your tax, legal, or financial advisor/professional for any tax advice or counsel regarding your tax liabilities. Be advised that any material contained herein is for informational purposes only and does not constitute tax, legal, or other professional advice.        

Finances
Managing Your Finances as a Seasonal Business

As a small business owner, it's important to be aware of the recurrent nature of a seasonal business and to plan ahead for potential financing needs. Seasonal businesses often experience peaks and valleys, which can make managing cash flow and expenses one of their biggest challenges. Because sales are likely to fluctuate throughout the year, it's essential to anticipate slow periods and plan accordingly. It's fundamental to always plan for potential financing needs. If you know you'll need additional funding at certain times of the year, start researching financing options well in advance. Many seasonal small business owners utilize a short-term working capital loan to meet these needs and keep their cash flow healthy during slower periods. By being proactive, planning, and doing your research, you can ensure that your business has the financing it needs to thrive - no matter what time of year it is. Here are some additional tips to help small business owners manage finances as a seasonal business: When Business is Good, Closely Regulate Expenses  It's especially imperative to be very mindful of your spending and cash reserves when business is good. During peak periods, you should be focused on building up your capital so you can weather any potential storms down the road. Closely monitor inventory levels and expenses, and only spend when absolutely needed. Think Strategically It's also important to think strategically and keep your eyes on the long term when managing your finances as a seasonal business. The new year is a great time to forecast what could happen in the next twelve months and plan accordingly. For example, the time to borrow the working capital you may need to get through an off-season is not during the off-season. When applying, you will need to show you have more cash flow than is required to make the loan payments, so it's best to apply when your revenue flow is high. Distinguish Between Needs and Wants   When making financial decisions for your business, it's important to differentiate between needs and nice-to-haves. Borrowing capital can help a seasonal business alleviate pains during a slump but should be used in ways that will benefit the business and contribute to its overall value. This could include things like launching a new marketing initiative, exploring a new product geared toward the traditional slack season, working on physical facilities improvement, or utilizing equipment financing to expand or upgrade outdated equipment. While borrowing can help keep the doors open during slow times, it's essential to use the funds in ways that will improve the business as a whole. Review Your Credit Profile  Finally, it's important to always review your personal and business credit profile regularly. This will help you identify any potential red flags that could impact your ability to get financing when you need it. If you find any negative items on your report, take action to correct them as soon as possible. Like many business models, seasonal small businesses have their ebbs and flows. But unlike other businesses that may have a more even distribution of revenue throughout the year, seasonal small businesses often make the majority of their money during a very limited window of time. This can put them in a tight spot when it comes to cash flow, but by planning and diligently managing your expenses, it can be easier! Borrowing could certainly be helpful, but it's crucial to use borrowed capital wisely and apply at the right time. You can learn more about your working capital loan options or equipment financing through CAN Capital here. Managing finances as a seasonal business can be challenging, but following these tips could help you stay afloat during slow times and take advantage of opportunities when business is booming.

Finances
The Risks of Loan Stacking

Being a small business owner can be extremely gratifying, but it certainly comes with many challenging tasks. Sitting at the top of the list is estimating funding needs. Perhaps its expansion, assets, or other unforeseen expenses, there are many reasons a small business could need additional financing. Occasionally owners will find one loan isn't sufficient and may seek additional funding from other lenders. Applying for and receiving multiple loans from different lenders at once is called loan stacking. For instance, let's say your business is doing well and you decide to take on an expansion in products. You've estimated you will need an additional $25,000 to cover costs and services. You apply for the total amount with one lender but are only approved for a portion of what you need, so you seek loans from other lenders to cover the additional funding required, ending up with multiple loans. Although loan stacking might seem like a simple fix, it can be risky for small business owners. Taking out additional loans could affect you and your business in these ways: Additional loans could violate the terms of your first loan agreement. Multiple loan payments can put a significant strain on your business's working capital. Numerous outstanding loans could negatively affect your business credit score and your personal credit score. With outstanding debt, terms on new loans may not be as favorable and cost you more in the end. Depending on the business needs, there are options when a borrower needs more funding. Speak with your current business lender. Staying in good standing and maintaining an open line of communication with your current lender is vital. When you need additional funding, talk with them first. Request that they evaluate your opportunities for more funding and better terms. Be prepared to show them why you merit the additional capital and how you plan to use it. Refinancing your first business loan is another good alternative to loan stacking. You've worked hard to grow your business and increase revenue, all while making on-time payments to your current loan. Use that to your benefit, and instead of taking on additional loan payments, replace your existing loan with another that offers better terms and will give you the extra funding you need. Explore complimentary loan products like a business line of credit, credit card, or equipment financing. These types of loan products work with a business loan because they are used for different reasons, and the guarantees differ for each loan. For instance, you have a short-term loan used to purchase products and supplies, which places your business assets as a guarantee. You have a separate loan specifically for equipment financing that puts the equipment itself as the guarantee. Protect yourself and your business by avoiding the temptation of loan stacking. What appears to be a simple fix can lead to a never-ending cycle of debt and major hardships in the future. There are better options; consider the alternatives and speak with your lender.

Others
Reaching “The Future”

As younger generations begin to take over the consumer landscape, it is vital small businesses market themselves appropriately. With approximately 77.5 million millennials (ages 17-34) and 25 million Gen Z’ers (ages 12-17) in the United States, small business owners can’t afford to neglect this market. Fortunately for entrepreneurs, attracting this growing audience shouldn’t be too difficult, as the up and coming generations are passionate about small businesses. In fact, not only do they prefer small businesses to large ones, they are eager to start businesses of their own one day. Sixty-six percent of millennials want to do so and nearly eight in 10 students in grades 5 through 12 say they want to be their own boss one day. Here are some tips to make sure your small business is effectively reaching “the future”: Be yourself The easiest way for small businesses to attract young consumers is by simply being themselves. After growing up watching their parents struggle during The Great Recession, many millennials and younger generations simply don’t trust big business. Instead, they prefer the transparency and authenticity small businesses provide. Whether you’re a restaurateur waking up early to pick fresh produce at the local market, or a clothes retailer that purchases pricier but longer-lasting fabrics for his or her designs, be sure to share your process with your customers. Younger generations want to know where their goods come from and are eager to differentiate themselves by buying products that are unique, personalized and outside the mainstream. So, stick to your roots and produce a product that will keep customers coming back. Strong social game Just as younger generations are wary of big business, a large majority (84%) do not connect with traditional advertising. Sales promotions, radio commercials and even internet displays don’t usually work with this group. Instead, turn to social media to grab their attention. To ensure your small business leaves a strong first impression, it’s important your social profiles (Twitter, Instagram, Facebook, etc.) are easy to read and sales-driven. Be sure consumers can make purchases or be redirected to your main website from these channels. At the same time, having your account verified on Twitter or Instagram helps legitimize your brand. Social media is also a great way for customers to share their experience and is a great opportunity for businesses to boost revenue, as 84% of millennials say user-generated content has inspired a purchase. Pay on-the-go To complement a strong online presence, small businesses need to provide convenient and safe payment options for consumers. Fast-moving younger generations are unlikely to revisit a product if they are unable to immediately buy it. Mobile payment is especially crucial, as consumers are currently making over $4 billion worth of purchase on their phones, a number that is expected to reach $34 billion by 2020. Resources small businesses can tap include PayPal, which is the industry standard for digital shoppers and eliminates the need for consumers to re-enter their information when making purchases. Also, as cash becomes less ubiquitous in the marketplace, small businesses can create Venmo accounts to provide a quick payment alternative or have smartphone credit card readers in their stores that simply require a scan. The more than 100 million young consumers in the marketplace presents a huge opportunity for small businesses to lay the foundation for future success. It is imperative SBOs invest in the technology and staff necessary to reach this large demographic and develop a young, repeat customer base. The future is now, don’t be left behind.

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Surviving the Storm: How Small Business Owners Can Prepare for Hurricane Season

Originally Published on SmallBizDaily on July 27, 2018.  Small Business Owners know all too well the debilitating impacts natural disasters can have on a company. In fact, according to the Federal Emergency Management Agency (FEMA), almost 40 percent of small businesses never reopen their doors after a disaster.  Here are several tips to consider that could help your business make it through hurricane season unscathed: Protect your property The most obvious concern for business owners when preparing for an incoming storm is their storefront. Without a structurally sound store, it will be hard to generate profits. Therefore, make sure the structure is properly equipped to handle a hurricane. This means installing shutters or plywood to protect windows and doors, having your roof thoroughly evaluated and anchoring any large furniture (bookcases, shelves, filing cabinets) to wall studs.  Not only do you want to avoid replacing these items, but it is vital to protect access points from looters and minimize water damage. While you can take these precautions well in advance of a storm, it is also wise and less costly to survey your property weeks or even days before a hurricane is inbound. Use this opportunity to prune branches or consult with an arborist about dead or dying trees that are adjacent to your building and may cause damage during the storm. Secure data Unfortunately, there is no way to guarantee your business will be safe from a storm. And while your storefront may be at risk when a hurricane is approaching, your data doesn’t have to be. Small business owners should back up all their files on a cloud or an accessible off-site location to avoid data loss. Depending on your needs, there are a variety of vendors that offer affordable cloud-storage systems to protect your data when a hurricane hits. If you value collaboration, Egnyte has a storage and file-sharing platform that lets businesses save their data locally and in the cloud. Or if you are simply interested in long-term storage, Zoolz provides a powerful cloud storage program that allows for unlimited users and servers. Whatever data storage solution you choose be sure to take time to fully understand the security protections they provide. People come first While infrastructure and data concerns are a priority, what is most important is your safety and the safety of your employees. Where possible, businesses should enable employees to work remotely when a hurricane is coming through. Create shared files for staffers to access, provide company laptops or even give employees assignments they can accomplish at home while they are waiting out the storm. Easily accomplishable tasks include telling a manager to outline rest-of-year goals for his/her team or telling employees to brainstorm marketing ideas for an upcoming product launch. At the same time, just as small business owners are concerned about the welfare of their companies during natural disasters, the people in your community are equally concerned about their safety and that of their families. As people rush to ensure they have the essentials before a storm, position your business as a trusted and helpful resource within your community by providing useful products and services, if applicable. This could mean using your inventory of water and nonperishable food items for consumers to purchase, or if you are a contractor, let people know you are a friendly local face should they need household repairs. It is paramount small business owners do all they can to best prepare for an incoming storm, because once it hits you will likely feel helpless. Being proactive and having a plan in place may not prevent the worst from happening, but it certainly will increase your business’s chances of survival.