Jim Blasingame's Blog, page 25

Is crowdfunding investment capital right for your business?

In previous columns I introduced three crowdfunding sources including donation fundraising, startup transactions, and lending. Now let’s talk about the fourth and most problematic method: raising capital from investors.

Historically, small businesses acquired investor capital from two sources: venture capital and angel investors. So when crowdfunding popped up on our radar, many in the entrepreneurial universe got excited thinking the Internet could be used as a lever for investor capital as i...

RESULTS: What should we do with the thousands of children who’ve crossed the U.S. border illegally from Central America?

The Question:

What should we do with the thousands of children who’ve crossed the U.S. border illegally from Central America?

6% — Take them in and let them stay here permanently

67% —Take care of them only until we send them home

27% —Send them back across the border to Mexico immediately

Jim’s Comments:

Regardless of how quickly, 94% of you think the thousands of illegal immigrant children from Central America who’ve been in the news lately should not stay here. Over the next few weeks I’m goin...

How to spot entrepreneurs in their natural habitat

If you venture into the marketplace jungle, you may be able to observe that rare wild creature, the entrepreneur, in his or her natural environment (darting is not necessary, entrepreneurs are very gentle - just rub their stomachs). As you study them, you will find levels of vision, curiosity, courage, tenacity, and faith. Here’s what to look for in order to identify this elusive critter:

Vision: Entrepreneurs see things and consider the possibilities before they exist, even as the world is te...

Is a crowdfunding business loan right for you?

In my last column I introduced the concept of crowdfunding — the new word and online methods of fundraising and capitalization. The two crowdfunding examples I described were contributions and business transactions doubling as fundraising.

Let’s continue with the third type, which is, crowdfunding structured for loans.

Crowdfunding debt, AKA peer-to-peer and social lending, is like traditional borrowing: a request for funds comes with the promise of repayment with interest over a specific term....

RESULTS: How much do you depend on your smartphone?

The Question:

How much do you depend on your smartphone for tasks other than calling, texting, and email?



24% —Heavy dependence, like social media, newspapers, navigation, travel, etc.
53% —Just a few other tasks right now, but increasingly using it more.
9% —Nothing other than the three in the question.
14% — I don’t own a smartphone.

Jim’s Comments:

There are several reasons why more people - 77% of respondents in our latest poll - are increasingly using smartphones for tasks in their lives. For...

Smartphones and customer expectations

There are several reasons why more people - 77% of respondents in our latest poll - are increasingly using smartphones for tasks in their lives. For example, it now costs no more to manufacture a smartphone than a dumb one, mobile apps increasingly appeal to the non-technical user, mobile networks encourage them in a number of ways, and perhaps the most important - the cool factor.

I’m pleased to see that small business owners are increasingly owning and using smartphones. When we polled our a...

Crowd funding is not new, but crowdfunding is

Crowd funding is not new, but crowdfunding is. Completely intuitive, both terms mean funds conveyed by a crowd to a solicitor.

Crowd funding is actually traditional banking, insurance, stock markets, charities and the like, where the crowds are relatively small and absolutely defined. Now a new word,crowdfunding is very similar except that it’s conducted on the Internet where the crowds are innumerable and possibly anonymous.

It’s largely due to those two words, innumerable and anonymous, that...

RESULTS: Who do you use when you need, or have needed, website development services like building or upgrading a website?

The Question:

Who do you use when you need, or have needed, website development services like building or upgrading a website?



39% —A local, small web development firm
9% —An online web development company that helps us do it ourselves
44% —Individual consultants
8% — Don’t have a website

Jim’s Comments:

First, I’m happy to report that more than 90% of the small businesses that hang out with us have websites. And for all of the money spent advertising to have your website created - sometimes...

Entrepreneurs are modern day Merlins

Merlin was a wizard. No small credential that.

But the most fascinating thing about King Arthur’s mentor was that, according to legend, he lived his life backwards; he came from the future. You might say his life was going the wrong way down a one-way world. Poor Merlin; he already knew how things were going to turn out.

If Merlin showed up on your doorstep today would you want to know what he could tell you? Not me. Where would the fun be in knowing how your plans were going to turn out before...

“Thank you” is golden, “No problem” is a problem

It has happened to all of us: You’re being waited on at a restaurant, buying a product or returning something to a merchant, and as an employee is delivering some kind of service you say, “Thank you.”

Good for you; your mother would be so proud. But she wouldn’t be impressed by what has become an unfortunate response to thank you. After you say thank you for having your water refilled or your order completed, there is sadly a good chance the employee will say, incredibly, “No problem.”

So, from...