Jim Blasingame's Blog, page 18
February 10, 2015
A few more reasons to love small businesses
10. Small businesses make up more than 99.7 percent of all employers9. Small businesses create more than 50 percent of the non-farm private gross domestic product (GDP)
8. Small patenting firms produce 16 times more patents per employee than large patenting firms
7. The 28.2 million smallbusiness in the United States are located in virtually...
February 9, 2015
Obama’s Internet words don’t match his actions
“You will know them by their fruits.” This ancient wisdom is from the author of the Gospel of Matthew.
Sixteen centuries later, in his book “Will and Doom,” the Rev. Gershom Bulkeley, paraphrased Matthew with, “Actions are more significant than words.”
Inthe 21st century this timeless maxim continues to serve as we hear President Obama say, “I intend to protect a free and open Internet.”
In the past I’ve reported my concerns about the future of the Internet under the Obama administration. If...
February 4, 2015
RESULTS: How do you rate President’s Obama’s years in office?
The Question:
President Obama just delivered his seventh State of the Union. After six years in office, how do you rate his presidency?
4% - I give him an A; he’s done an excellent job.
6% - I score him a C+ to a B; he’s done an average to good job.
19% - I give him a D to a C; he’s just been average or less.
70% - I give him an F; his presidency is a total failure.
Jim’s Comments:
As you can see, President Obama doesn’t have a very good rep on Main Street. Small business owners may not be...
February 3, 2015
Secret to Success? Mind Over Matter
Have you ever seen someone who moved objects with their mind, or bent a spoon by merely concentrating on it? Telekinesis, as defined by Webster, is the power to move an object by psychic force alone. Mind over matter.The idea of telekinesis has fascinated humans for millennia, including this human. Like me, you probably have a healthy level of skepticism about such claims. But what would you say if I said you are capable of telekinesis?
If you have ever done any physical training, you know tha...
January 30, 2015
Selling services? Think price not wages
Millions of small businesses sell personal services like consulting, website development, or janitorial services, instead of something tangible like a computer or a kumquat.
Unfortunately,pricing a service is not as intuitive as a tangible product. Consequently, service businesses too often don’t charge enough to sustain themselves profitably.
Recently I received a question from one of these owners about how to price the services of their new cleaning business. Perhaps my answer to them will he...
January 28, 2015
RESULTS: Would your business be a prospect for outside investor capital?
The Question:
Would your business ever be a prospect for outside investor capital?
15% - Yes, our long-term growth plans is to acquire venture capital.
8% - Yes, but only angel investors we can buy out later.
0% - We want to acquire investor capital but don’t know how.
0% - We’ve already acquired outside investor capital.
77% - We don’t need no shtinkin’ investors.
Jim’s Comments:
As I’ve said - and written - many times, most small businesses are not prospects for outside investor capital. It...
January 27, 2015
It’s time to adapt to the new age of technology
His technology was crude by modern standards, but it did what technology does: leverage the productivity of human beings.During the year Ford’s assembly line was first put in service, he wasn’t just using technology he was creat...
January 23, 2015
A small business lesson from what Target did right in Canada
In 2011, Target Corporation, the successful national retailer out of Minnesota, announced they were expanding into neighboring Canada.
The launch was aggressive; by assuming almost 200 spaces vacated by a recently bankrupted chain,Target Canada opened 133 stores in less than two years, including one just 500 miles from their headquarters in Minneapolis.
Having successfully gone head-to-head with U.S. competitors who’d already expanded successfully north of the border, why wouldn’t Canada be a g...
January 21, 2015
RESULTS: How will low fuel prices impact your sales and profits?
The Question:
Lower crude oil prices are expected to keep fuel prices low all year. How much will this impact your sales and profits?
19% - It will help to both increase sales and lower expenses.
38% - It won’t impact our sales much, but a reduced fuel budget will improve profits.
11% - We should see improved sales but don’t use a lot of fuel.
32% - It’s unlikely we’ll benefit from lower fuel prices in any way.
Jim’s Comments:
Now that crude oil has escaped the clutches of speculators and dropped...
January 20, 2015
Seeking due diligence in business
That’s an interesting word, certain. Webster says it means fixed, settled, determined, not to be doubted.But it’s a word that isn’t often found in business plans.The 19th century president of Harvard Un...
