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57 Posts authored by: Rieva Lesonsky

We know Generation Z will transform workplace culture—but not all of this cohort will enter the workplace. This demographic, whose oldest members are between the ages of 18 and 23, is already displaying a passion for entrepreneurship. What’s driving Gen Z to be their own bosses, and how might they transform the business world?

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Fiscally Responsible

 

Gen Z grew up in the shadow of the Great Recession, seeing their parents struggle financially and their older millennial siblings battle for scarce jobs. They don’t want to live out the same nightmare, so they are wary of taking on debt (21 percent percent already have savings accounts). Although the Center for Generational Kinetics predicts a higher percentage of Gen Z will attend and graduate from college than any prior generation, they are already planning how to avoid college loans.

 

More than half (60 percent) of Gen Z believe money is evidence of success, compared to 44 percent of millennials at the same age, according to a survey by We R Gen Z. Already, the survey reports, 70 percent of Gen Z’ers earn their own spending money—about the same percentage as millennials, except that Gen Z is 10 years younger.

 

Freedom and Self-Reliance

 

To avoid being at the mercy of employers, Gen Z is choosing non-traditional ways to earn a living. Nearly half (46 percent) of Gen Z workers are freelancers, Upwork reports, and 73 percent are freelance by choice, not from necessity.

 

While some Gen Z workers choose the self-reliance of freelancing, others go one step further by pursuing entrepreneurship. Almost two-thirds (65 percent) of Generation Z want to be financially independent by age 30, Barna Group reports; five years after finishing college, 20 percent want to be entrepreneurs, Robert Halffound.

 

Gen Z is realistic about their prospects—77 percent expect to work harder than previous generations to achieve success. They’re also confident: 80 percent of high school students believe they’re more driven than their peers.

 

The Digital Generation

 

How will Generation Z businesses differ from prior generations? This is the first demographic to grow up in a fully digital world. Weaned on YouTube videos, Gen Z’ers know they can learn anything online—from how to make natural cosmetics to how to use 3D printers or find suppliers. They live their lives online and are natural social media marketers.

 

For some, showing bigger businesses (and older people) how to reach Gen Z is a business in itself. Back in high school, Tiffany Zhong knew she wanted to be her own boss, so she started asking venture capitalists for advice. When VCs started asking herfor Gen Z insights, Zhong realized she had a business on her hands. Today, her marketing firm Zebra Intelligence helps brands connect with Gen Z. Connor Blakley and Jonah Stillman are others who have capitalized on their Gen Z status to consult with businesses on managing and marketing to this generation.

 

Other Gen Z entrepreneurs sell products, not knowledge:

 

  • Taylor Frankel co-founded cosmetics brand Nudestix at 17; today, the company’s products are sold in Ulta and Sephora.
  • Allan Maman and Cooper Weiss, founders of Fidget360, gained viral fame (and made hundreds of thousands of dollars) by capitalizing on the fidget spinner craze in high school. (Weiss has since been involved in other startups while Maman is working on a new venture.)
  • Teni “Tia” Adeola launched Slashed by Tia from her dorm room in 2017, creating clothing based on her passion for Renaissance painting; today her designs are worn by celebrities such as SZA and Gigi Hadid.

 

For all three companies, social media marketing and an instinctual connection with their peers online were key to success.

 

How will Generation Z transform the world of business? It remains to be seen—but I, for one, am looking forward to finding out.

 

About Rieva Lesonsky

 

Rieva Lesonsky Headshot.png

Rieva Lesonsky is CEO and Co-founder of GrowBiz Media, a custom content and media company focusing on small business and entrepreneurship, and the blog SmallBizDaily.com. A nationally known speaker and authority on entrepreneurship, Rieva has been covering America’s entrepreneurs for more than 30 years. Before co-founding GrowBiz Media, Lesonsky was the long-time Editorial Director of Entrepreneur Magazine. Lesonsky has appeared on hundreds of radio shows and numerous local and national television programs, including the Today Show, Good Morning America, CNN, The Martha Stewart Show and Oprah.

 

Lesonsky regularly writes about small business for numerous websites and for corporations targeting entrepreneurs. Many organizations have recognized Lesonsky for her tireless devotion to helping entrepreneurs. She served on the Small Business Administration’s National Advisory Council for six years, was honored by the SBA as a Small Business Media Advocate and a Woman in Business Advocate, and received the prestigious Lou Campanelli award from SCORE. She is a long-time member of the Business Journalists Hall of Fame.

 

Web: www.growbizmedia.com or Twitter: @Rieva

You can read more articles from Rieva Lesonsky by clicking here

 

Bank of America, N.A. engages with Rieva Lesonsky to provide informational materials for your discussion or review purposes only. Rieva Lesonsky is a registered trademark, used pursuant to license. The third parties within articles are used under license from Rieva Lesonsky. Consult your financial, legal and accounting advisors, as neither Bank of America, its affiliates, nor their employees provide legal, accounting and tax advice.

 

Bank of America, N.A. Member FDIC. ©2018 Bank of America Corporation

Success is a habit—and like all good habits, you have to work hard to achieve and maintain it. We talked to 11 small business owners about the daily habits they believe contribute most to their success. From exercise to quiet time to diligently tracking sales in QuickBooks, here’s what some successful entrepreneurs do every day.

 

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Todd Brabender, President, Spread The News PR, which specializes in generating media exposure for innovative products, services and experts.

 

  1. Research: I spend the initial part of my day researching the media markets applicable to my client base. I scour multiple media outlets and formats to see what topics are being covered. What angles are popping, what trends are developing? Based on that research, I forge messages incorporating my clients with those solid news pegs and pitch to my media contacts all over North America to consider.
  2. Respond: I pride myself on being as immediate as possible in my email and phone correspondence replies with clients, associates and media contacts. When it comes to communications, my mantra has always been: Review. React. Respond = Results!
  3. Relax: By relax, I mean breathe. Several times a day I stop working, look away from the computer screen for a few minutes and take a string of cleansing circular breaths. It refocuses the mind, eases stress and helps stoke new creativity for ideas.

 

Charles Bragdon, President, Water Saver Solutions, which helps commercial and institutional clients optimize their water flow into cash flow.

 

  1. I spend time at the beginning of each day in prayer and reading a daily devotional. This helps me start with the right frame of mind and reflect on my many blessings. I also use this time to think about my challenges ahead for the day.
  2. Aside from our formal weekly production meeting, I also meet with my department managers daily to discuss project status, challenges or anything else on their plates. This gives me valuable time for mentoring and coaching and helps me forecast any obstacles.
  3. In my office, I update a whiteboard daily of long- and short-term projects. Having a visual status board in my office keeps me focused.

 

Laurel Delaney, founder of GlobeTrade, president of Women Entrepreneurs Grow Global™ and best-selling author of Exporting: The Definitive Guide to Selling Abroad Profitably.

 

  1. I write a blog post every evening that is published the following morning (except Sundays) at the Global Small Business Blog. This has helped grow the blog’s readership and bring in new consulting opportunities. If you build an audience, you can build a business. After I write the post, I read The Wall Street Journalto relax and keep up with world affairs.  
  2. Even though I meet with exceptional business owners all the time through my consulting work, I still turn to business books for answers to burning questions, challenges I face or ideas I wrestle with. I scan a book a day, many of which can be esoteric or quite old—from Winners Never Cheat by Jon Huntsman to Heroic Leadership by Chris Lowney to On Second Thought by Wray Herbert.
  3. I try to either run or walk outside every day to get fresh air, clear my head, change the scenery and take photographs of simple things with my iPhone. This alters my state of mind and eases business pressures. When I return to my office, I have newfound energy, a better perspective on what needs to be tackled next, and a far greater motivation to get things done.

 

Jill Dominguez, President, ESSERGY,a consulting firm that helps businesses, nonprofits and governments harness energy for social change.

 

  1. First thing every morning I check my email, review my schedule and task list before the open of the business day (which means 5 a.m. PT, since my clients are all over the U.S.). This practice keeps me organized on what can be a complex schedule of activity with several projects happening at once [and dealing with] many team members.
  2. Every evening I update and review my company task list with “To Do’s,” each color coded according to urgency with a drop-dead date.  Every team member who is involved with a task is asked for an update or status regarding the task with the corresponding date.
  3. I write everything down in my notebook. It is with me at all times. I prefer taking handwritten notes, as it does not require me to look away for long periods. I am a firm believer in eye contact, and when [you take notes on] a tablet or phone, it seems as if you are not paying attention to the meeting. The notes are the basis of our digital archiving system for the company. All notebooks are archived chronologically; I have notebooks going back 27 years. I doubt that is necessary, but I have been asked to go back and check on an issue or conversation for a client many years later, and recalling details is much easier when looking at my own notes.

 

Monika Jansen, Head “Kick-Ass Copywriter” and Strategist, Jansen Communications, a boutique marketing agency.

 

  1. Every morning, I go for a two-mile walk, which I consider a walking meditation. I don’t listen to music or podcasts; I just let my mind wander.
  2. I do a quick check-in with myself: Is everything I’m doing that day contributing to my greatest and highest good? If not, I will cancel or reschedule projects and calls.
  3. Finally, I don't schedule calls or meetings before 10 am. This allows me to settle into “work” mode, which is especially helpful on Mondays!

 

Erika Kotite, co-founder of She Shed Living, which helps women create a space of their own by offering custom shed design, build and installation services as well as a proprietary line of exterior chalk-based paints.

 

  1. Daily contact with my partner, Sabrina Contreras. Sabrina and I bring different things to the table—she has a business background and I have a creative/marketing background. We keep each other grounded and motivated to do all the things we need to accomplish that day. I firmly believe in utilizing that “second eye” when making important business decisions. Just like a writer needs a good editor to be successful, we need each other's perspective and critique to improve.
  2. Staying up-to-date on QuickBooksand banking. Since my background leans to the liberal arts, I’ve had to invest considerable time and training into learning how to keep our books. By disciplining myself to check our bank balance daily and input items regularly into QuickBooks, I’ve been able to avoid costly tax accountant charges. In addition, I have a much better idea of how we are doing financially and what we need to adjust in the future. For example, I know exactly how many shed sales per month we need to reach our business goals for 2019.
  3. Add content and stay engaged on Instagram. We have numerous social media outlets including a growing Facebook Group, but Instagram is where people discover us, present us with opportunities and refer clients to us. I carefully monitor not only our growth in followers but also engagement levels for each post. It’s equally important to support others on Instagram by liking, commenting and reposting, which I do every day.

 

Mika Leah, CEO, Goomi, which brings onsite fitness and wellness sessions to offices and other workplaces.

 

  1. Determine the three things I need to get done that day. Then I focus on only those three things.
  2. Plan ahead for the following day, review my calendar, write my three things to-do list, and even lay out my clothes.
  3. Have weekly mandatory status meetings with my team every Monday to connect on a personal note, review successes and failures from the prior week, and discuss the week ahead.

 

Barry Moltz, Author, speaker, host of the Small Business Radio Show, whose Shafran Moltz Group helps small businesses get unstuck.

 

  1. Determine my two priorities to accomplish that day (and do them) before checking email, social media or anything else.
  2. Check filtered emails and social media lists for current customers’ and key prospects’ messages or posts.
  3. Exercise—cycling and karate.

 

Charley Moore, Founder and CEO, Rocket Lawyer, which provideshigh-value legal services at an affordable price.

 

  1. I’ve been doing my best work in the early morning since I was a kid. We had a family business and I learned to open up shop at daybreak. Today, my most productive hour is usually between 6 to 7 a.m., when I can read the news, review KPIs and get a jump on email without meetings and distractions.
  2. I exercise six days per week. Even when I’m traveling, which is often, I stick to this exercise routine, which includes meditation and stretching. Leading any organization creates stress. Being able to be physically active is a blessing that I cherish as essential to a balanced life.

 

Adam Rizza, President, Sunscape Eyewear, wholesaler and e-tailer of sunglasses.

 

  1. Our main challenge is cash flow, so we watch our accounts receivable daily and budget properly. This is an exercise all entrepreneurs should apply, no matter their size. You have to have a good understanding of your cash flow.
  2. Daily meetings with my operations team. You have to make sure you are shipping daily—and accurately. This all ties into cash flow: When you ship on time, you get paid on time.
  3. Every day we work on new product development, retaining current clients and prospecting for new ones.

 

Aliza Sherman, CEO, Ellementa, a global women’s health company focused on cannabis, and author of Cannabis and CBD for Health and Wellness.

  1. Wake up early.My best work gets done in the wee hours of the morning; I get a good two hours of work in before things get busy. Once the workday actually begins, calls and meetings make up my day and by the afternoon, my brain is spent. Those early mornings are a time for me to really focus and produce. During the week, I’m often in bed before the kids!
  2. Eat a good breakfast.I can’t function without [eating] something substantial in the morning. My go-to breakfast is gluten-free toast with avocado and egg.
  3. Move around.My work tends to be sedentary—me, at a desk, on a computer. After writing the book The Happy, Healthy Nonprofit, I learned a lot about the tremendous value of moving your body throughout the day to clear your mind, boost your energy and prevent disease. My co-author, Beth Kanter, inspired me to walk more and to track my steps using a health app, something that suits my need to see progress. I alternate standing and sitting when at my computer and get some steps in walking when I’m talking on the phone. The better I take care of myself, the more successes I see day-to-day in my work.

 

Reading about other business owners’ daily success rituals is inspiring—but as Delaney says, “We cannot replicate business success by copying another business owner’s daily rituals—we need to cultivate our own.” What are your daily business success rituals?

 

 

About Rieva Lesonsky

 

Rieva Lesonsky Headshot.png

Rieva Lesonsky is CEO and Co-founder of GrowBiz Media, a custom content and media company focusing on small business and entrepreneurship, and the blog SmallBizDaily.com. A nationally known speaker and authority on entrepreneurship, Rieva has been covering America’s entrepreneurs for more than 30 years. Before co-founding GrowBiz Media, Lesonsky was the long-time Editorial Director of Entrepreneur Magazine. Lesonsky has appeared on hundreds of radio shows and numerous local and national television programs, including the Today Show, Good Morning America, CNN, The Martha Stewart Show and Oprah.

 

Lesonsky regularly writes about small business for numerous websites and for corporations targeting entrepreneurs. Many organizations have recognized Lesonsky for her tireless devotion to helping entrepreneurs. She served on the Small Business Administration’s National Advisory Council for six years, was honored by the SBA as a Small Business Media Advocate and a Woman in Business Advocate, and received the prestigious Lou Campanelli award from SCORE. She is a long-time member of the Business Journalists Hall of Fame.

 

Web: www.growbizmedia.com or Twitter: @Rieva

You can read more articles from Rieva Lesonsky by clicking here

 

Bank of America, N.A. engages with Rieva Lesonsky to provide informational materials for your discussion or review purposes only. Rieva Lesonsky is a registered trademark, used pursuant to license. The third parties within articles are used under license from Rieva Lesonsky. Consult your financial, legal and accounting advisors, as neither Bank of America, its affiliates, nor their employees provide legal, accounting and tax advice.

 

Bank of America, N.A. Member FDIC. ©2018 Bank of America Corporation

While the rain poured outside, the mood inside was sunny as National Small Business Week kicked off in Washington D.C.  on May 5. Small Business Week is the Small Business Administration’s annual tribute to “entrepreneurship and innovation.”

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During a panel discussion on the “Next Wave in Digital Commerce,” featuring Nate Smith (VISA), Courtney Robinson (Square) and Rishav Chopra (Intuit), the group identified how digital technology is changing the buying habits of businesses and consumers—and that small businesses need to act now so they don’t get lost in the digital wave.

 

Consumers today expect their online experiences to be simple and intuitive. Chopra said it’s important to be where consumers are—you can’t have a presence in just one channel—you need to be discoverable by phone, on the web, and in person. And, he added, “You need to eliminate any friction in the process.”

 

This underscores one of the main drivers of buying behavior—customer experience. If you want to attract buyers (whether B2B or B2C), you need to provide an excellent customer experience. To accomplish this Robinson advised the audience to “use data to drill down on who your best customers are, what they want and the best way to target them.”

 

Robinson said a common mistake small business owners make is “thinking your customer is everybody.” It’s not, she added, “You have to drill down to find your ideal customer.”

 

Chopra said the No. 1 pain point small businesses experience today is how to get customers in the door. “It is 6-7 times more expensive to acquire a new customer than to retain an existing one,” he said. And once you “get them” Smith added, “it’s about creating loyalty.” You have to be proactive—reach out to your customers and get to know them better.

 

The digital transformation of small business impacts so many parts of your company: marketing, sales, customer loyalty, even raising or borrowing money. Plus, implementing digital solutions in your business gives you more time to better serve your customers.

 

Social Media Part of Marketing Mix

 

Day two started with a panel discussion, “Social Media Tips for Your Small Business”, moderated by Betsy Dougert (SCORE) and featured Dave Charest (Constant Contact), Brandon Olson (AWeber), Julia Cabral (LinkedIn) and me. Our panel emphasized the importance of integrating social media into your overall marketing mix and budgeting for it appropriately. The consensus of thepanel was:

 

    • Pick one or two platforms to get started. Start where your customers and competitors are.
    • Take social media seriously—this is your reputation on the line. Don’t relegate the job to interns.
    • There is no secret sauce to social media. What works for one company will not necessarily work for another. Plan your social campaigns and establish a consistent tone and presence.
    • While social media marketing canbe free, the panel recommended incorporating paid ads in your marketing plans.

 

How much should you spend on social media marketing? Here’s a formula I shared from  WebStrategies to help you budget: 

 

First, determine how much you’re planning to spend on all your digital marketing efforts. Then, decide what percentage of that budget should go to social media. Most companies spend about 5 percent-15 percent of their annual revenues on marketing in general and 35 percent-45 percent of that on digital marketing. Social media marketing should get about 15 percent-25 percent of the digital spend. Once you’ve done these calculations you can allocate the appropriate amount to your social media marketing efforts.

 

Each Small Business week I learn something useful and new! Did you attend any events this year? If so, what did you learn about?

 

 

About Rieva Lesonsky

 

Rieva Lesonsky Headshot.png

Rieva Lesonsky is CEO and Co-founder of GrowBiz Media, a custom content and media company focusing on small business and entrepreneurship, and the blog SmallBizDaily.com. A nationally known speaker and authority on entrepreneurship, Rieva has been covering America’s entrepreneurs for more than 30 years. Before co-founding GrowBiz Media, Lesonsky was the long-time Editorial Director of Entrepreneur Magazine. Lesonsky has appeared on hundreds of radio shows and numerous local and national television programs, including the Today Show, Good Morning America, CNN, The Martha Stewart Show and Oprah.

 

Lesonsky regularly writes about small business for numerous websites and for corporations targeting entrepreneurs. Many organizations have recognized Lesonsky for her tireless devotion to helping entrepreneurs. She served on the Small Business Administration’s National Advisory Council for six years, was honored by the SBA as a Small Business Media Advocate and a Woman in Business Advocate, and received the prestigious Lou Campanelli award from SCORE. She is a long-time member of the Business Journalists Hall of Fame.

 

Web: www.growbizmedia.com or Twitter: @Rieva

You can read more articles from Rieva Lesonsky by clicking here

 

Bank of America, N.A. engages with Rieva Lesonsky to provide informational materials for your discussion or review purposes only. Rieva Lesonsky is a registered trademark, used pursuant to license. The third parties within articles are used under license from Rieva Lesonsky. Consult your financial, legal and accounting advisors, as neither Bank of America, its affiliates, nor their employees provide legal, accounting and tax advice.

 

Bank of America, N.A. Member FDIC. ©2018 Bank of America Corporation

The act of starting a business is often arduous and lonely. Long days and nights hunched over a computer, bouncing ideas off yourself since there’s no one else around.

 

But it doesn’t have to be like that. Imagine being surrounded by like-minded entrepreneurs — and experienced coaches—soaking in a pool, staring at a volcano. Or savoring some alone time, taking the time to be mindful and reflect on your goals — and what you want to be when you grow up.

 

Sound like a dream? It’s not — it’s reality thanks to childhood friends Brian Helfman and Josh Gershon, the cofounders of Startup Island, who are determined to empower young entrepreneurs to be the CEOs of their own lives.

Rieva Lesonsky: What is Startup Island?

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Brian Helfman: Startup Island is a personal development accelerator designed to connect entrepreneurial-minded college students and young professionals through shared travel experiences. We host an alternative spring break program in Costa Rica for college students from all over the world. We also host summer camp weekends for “older” millennials (ages 23 - 39) in upstate New York and run a New Year’s trip, Ignite, for that same demographic, which is in a new location every year.

 

During our trips, participants have a chance to de-stress in an inspiring environment, develop meaningful connections with entrepreneurial-minded peers, and work with a team of experienced coaches. On all our trips, we try to maintain a 4:1 ratio of participants to coaches. Each coach leads a workshop within their realm of expertise and conducts one-on-one “Island Office Hours” with participants looking to dive deeper into their own goals.

 

Lesonsky: What was the impetus for launching Startup Island?

 

Helfman: Josh and I have been friends since we were 11. During the summer of 2015, I was two years into building another business when Josh approached me with the idea to do a retreat for entrepreneurs. He wanted to call it Startup Island. The more we talked about the idea, the more passionate I became about it. I realized Startup Island could be a perfect combination of the things I enjoyed, and the things I was really good at — creating meaningful experiences, travel, spending time in nature, mentorship, and building businesses. So in October, we decided to launch and began marketing our first trip — an alternative spring break program for college entrepreneurs. During that trip, in March 2016, I decided to shift my focus to Startup Island full time, to grow a business that could make massive positive impact.

 

Lesonsky: What’s the feedback from alums of the program?

 

Helfman: The feedback from our travelers has been really special. Some of the overarching themes include business breakthroughs, positive mindset shifts, and the development of a supportive community. There are traveler testimonials on our community page.

 

Lesonsky: One of your goals is to build a community. Have you accomplished that?

 

Helfman: One of the coolest things to witness as our business continues to grow is how much value our participants realize from the community itself. We always say, our participants arrive as strangers and leave as family — corny, but true. And the trip is just the beginning. Our travelers stay in touch through online forums we’ve built and organize their own in-person meetups around the world. We’ve seen everything from business partnerships to lifelong friendships form, even between people who originally went on different trips.

 

Lesonsky: You believe entrepreneurial thinking is not just for people starting a business.

 

Helfman: We believe having an entrepreneurial mindset is useful whether you’re starting a business or not. An entrepreneurial mindset helps you take ownership over your entire life. That said, we have seen many of our participants start businesses, especially those who were in corporate jobs when they first joined us.

 

They’ll start ramping up a side hustle after they get home from their Startup Island trip, and eventually they make that side hustle their full-time focus. Many of our alums credit us for helping build the confidence, network, knowledge, and resources to execute and build on their big ideas.

 

Lesonsky: What have you learned from creating Startup Island?

 

Helfman: I’m so grateful to be building this business for many reasons — the most significant is being surrounded by so many smart, ambitious, impact-driven people, who are equally as kind, funny, and genuine.

 

I’m also driven to learn more about the world’s problems, so I can do my best to help the members of our community solve those problems. Entrepreneurship is hard. Making an impact is hard. And doing it alone is even harder. Perhaps the biggest thing I’ve learned is a mutually supportive community of impact-driven people can help maximize the chances of success for each member of that community. I’ve seen it start to happen, and I’m so excited to see how each member continues to grow and change the world for the better.

 

Lesonsky: Looking back, would you have done anything differently?

 

Helfman: Yes, thousands of things. Mostly optimizations that could’ve made our trips even better, or things that could have saved us time. But I’ve learned from all of it, and I’m very happy with where the business is today.

 

About Rieva Lesonsky

 

Rieva Lesonsky Headshot.png

Rieva Lesonsky is CEO and Co-founder of GrowBiz Media, a custom content and media company focusing on small business and entrepreneurship, and the blog SmallBizDaily.com. A nationally known speaker and authority on entrepreneurship, Rieva has been covering America’s entrepreneurs for more than 30 years. Before co-founding GrowBiz Media, Lesonsky was the long-time Editorial Director of Entrepreneur Magazine. Lesonsky has appeared on hundreds of radio shows and numerous local and national television programs, including the Today Show, Good Morning America, CNN, The Martha Stewart Show and Oprah.

 

Lesonsky regularly writes about small business for numerous websites and for corporations targeting entrepreneurs. Many organizations have recognized Lesonsky for her tireless devotion to helping entrepreneurs. She served on the Small Business Administration’s National Advisory Council for six years, was honored by the SBA as a Small Business Media Advocate and a Woman in Business Advocate, and received the prestigious Lou Campanelli award from SCORE. She is a long-time member of the Business Journalists Hall of Fame.

 

Web: www.growbizmedia.com or Twitter: @Rieva

You can read more articles from Rieva Lesonsky by clicking here

 

Bank of America, N.A. engages with Rieva Lesonsky to provide informational materials for your discussion or review purposes only. Rieva Lesonsky is a registered trademark, used pursuant to license. The third parties within articles are used under license from Rieva Lesonsky. Consult your financial, legal and accounting advisors, as neither Bank of America, its affiliates, nor their employees provide legal, accounting and tax advice.

 

Bank of America, N.A. Member FDIC. ©2018 Bank of America Corporation

Did you know more than half of Americans either own or work for a small business, according to the Small Business Administration (SBA)? Since 2000, small businesses (now 30 million strong) have created 66% of all net new jobs in the U.S. Clearly, small businesses have an outsized impact on the nation as a whole. But how do small businesses impact their local communities? In honor of National Small Business Week (May 5-11, 2019), let me count the ways.

 

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1. Small businesses employ local workers. Independent businesses create jobs and hire people who live in their communities. Those small business employees then spend their paychecks in the community, resulting in other local businesses needing to hire more workers to keep up with the increased demand. All this stimulates the local economy. For each dollar spent in a local store as much as $3.50 recirculates into the local economy, according to the American Independent Business Alliance (AMIBA). A small business in an economically-challenged community may provide employment for people who otherwise wouldn’t be able to find work because they can’t afford cars or transportation to jobs outside the area.

 

2. Local small businesses generate tax revenues. Sales tax, property tax and other taxes paid by small businesses help finance improvements in the community. The more small businesses there are in a city or town, the more money is available for public works projects such as road repairs, new parks, public schools, police and fire departments andmore.

 

3. Small business owners give back to the community. Whether by joining local organizations (like the Rotary club or chamber of commerce), sponsoring Little League teams, chairing civic committees, or hosting fundraisers for schools and charities, small business owners and their employees often are at the forefront of community engagement and involvement. Their efforts help create a better, more tight-knit community for all residents.

 

4. Small businesses hire other small businesses. Because of their small size, independent businesses tend to use local suppliers and services. For example, a local retailer might hire a local sign-maker, electrician and contractor to build out or repair their store. Small retailers are more likely than chain stores to sell locally-produced goods, according to AMIBA.Local businesses also use independent professionals such as accountants, lawyers, insurance agents and advertising agencies, putting more money back into the community.

 

5. Small business success has a snowball effect. When a region has a growing community of small businesses, more entrepreneurs are attracted to the area. As more businesses then open up, the community becomes more desirable and attracts more residents, drawn by both the thriving business activity and the increased job opportunities. Property values rise, and everyone benefits.

 

6. Small businesses sometimes become big corporations. Those small businesses that grow to become big ones have an even bigger effect on their communities. For example, major employers like Microsoft, Nike, FedEx and Amazon all started out as small businesses. By staying put as they grew and expanding in their home cities, they now provide jobs for thousands of people and have turned their communities into major business hubs.

 

How does your small business benefit your local community? What more can you do to make it even better? Let us know in our discussion forum.

 

Join us in celebrating Small Business Month!

 

About Rieva Lesonsky

Rieva Lesonsky Headshot.png

Rieva Lesonsky is CEO and Co-founder of GrowBiz Media, a custom content and media company focusing on small business and entrepreneurship, and the blog SmallBizDaily.com. A nationally known speaker and authority on entrepreneurship, Rieva has been covering America’s entrepreneurs for more than 30 years. Before co-founding GrowBiz Media, Lesonsky was the long-time Editorial Director of Entrepreneur Magazine. Lesonsky has appeared on hundreds of radio shows and numerous local and national television programs, including the Today Show, Good Morning America, CNN, The Martha Stewart Show and Oprah.

 

Lesonsky regularly writes about small business for numerous websites and for corporations targeting entrepreneurs. Many organizations have recognized Lesonsky for her tireless devotion to helping entrepreneurs. She served on the Small Business Administration’s National Advisory Council for six years, was honored by the SBA as a Small Business Media Advocate and a Woman in Business Advocate, and received the prestigious Lou Campanelli award from SCORE. She is a long-time member of the Business Journalists Hall of Fame.

 

Web: www.growbizmedia.com or Twitter: @Rieva

You can read more articles from Rieva Lesonsky by clicking here

 

Bank of America, N.A. engages with Rieva Lesonsky to provide informational materials for your discussion or review purposes only. Rieva Lesonsky is a registered trademark, used pursuant to license. The third parties within articles are used under license from Rieva Lesonsky. Consult your financial, legal and accounting advisors, as neither Bank of America, its affiliates, nor their employees provide legal, accounting and tax advice.

 

Bank of America, N.A. Member FDIC. ©2018 Bank of America Corporation

If your small business is considering expanding into a new market—either geographic or demographic—a pop-up shop can be an excellent way to test the waters before you commit to a bigger investment.

 

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Pop-up shops are short-term locations typically open for a few weeks. While they are usually retail businesses, the pop-up concept can also work for service businesses, such as a yoga studio or beauty salon. Restaurants have even popped up in large urban markets like New York and Chicago.

 

 

What can pop-up shops help you do?

 

1. Create a physical presence: E-commerce businesses often open a pop-up shop before launching a permanent brick-and-mortar location. They may also use pop-up shops on an occasional basis to build buzz about a new product or take advantage of seasonal demand.

 

2. Test a location: If you’re thinking of opening a second location (or first), you could commit to a lengthy commercial lease and cross your fingers that the space you’ve picked is a good one. Or you could try out a pop-up shop for a few weeks to see if the location works before you sign on the dotted line.

 

3. Test-market new products or services: Are you considering adding a new product or service to your offerings? Use a pop-up shop to do real-world market testing, then use what you learn to modify the product or service for greater success before you launch it.

 

4. Build brand awareness: Companies hoping to expand to new demographic markets can use a pop-up shop to build brand awareness and generate word-of-mouth among a new customer base.

 

Secrets of pop-up shop success

 

You’ll have more success with your pop-up if you focus on one of the goals above, rather than try to do everything. Other steps to success:

 

1. Choose the right location: The ideal location will differ based on your goal. If you want to build broad awareness of your brand in a certain city, locate near an area with a lot of foot traffic. If you’re trying to attract students, a spot near a college or university would work. If your target market is upscale shopaholics, a spot in a popular mall might be best; if you want to reach hipsters who shun the “masses,” you could try an out-of-the-way downtown warehouse. To find potential pop-up locations, contact local retail property managers or visit pop-up property websites such as Storefront.com, PopupInsider and Uppercase.

 

2. Promote, promote, promote: Pop-up shops are all about excitement, exclusivity and the fear of missing out, making social media the ideal place to promote them. Start plugging your pop-up well in advance by sharing “Save the date” announcements, sneak peeks at what you’re planning and special offers for your followers. (Create a hashtag for your pop-up and use it in all your outreach.) Invite your email subscribers to the event. Reach out to influential members of the media, including relevant bloggers, to alert them about your pop-up and invite them to attend as guests of honor. Once your pop-up is underway, pass out flyers and use street signage, balloons and flags to catch the attention of passersby.

 

3. Make it memorable: A pop-up is more than just a temporary retail store—it’s a one-of-a-kind experience. Give visitors a reason to stop in by throwing a party! Live entertainment, interactive activities, makeovers, fashion shows, product demonstrations, competitions, and prize giveaways are all fun activities that will attract people into the store and get them talking about your pop-up.

 

4. Get customers engaged: Your pop-up shoppers are your best source of marketing. Get them to spread the word about your pop-up shop by creating Instagram-worthy spots for selfies and encouraging customers to share them on social media (with your pop-up hashtag, of course!). Ask customers to sign up for your email or text messaging lists and follow you on social media so you can stay in touch with them after the event. Finally, take advantage of the opportunity to get real-time customer feedback on your product or service.

 

A pop-up shop can be the first step to a permanent location or an occasional activity you use to attract new customers and expand your target market. Either way, this concept has plenty of potential for entrepreneurs who know how to make the most of it.

 

 

About Rieva Lesonsky

 

Rieva Lesonsky Headshot.png

Rieva Lesonsky is CEO and Co-founder of GrowBiz Media, a custom content and media company focusing on small business and entrepreneurship, and the blog SmallBizDaily.com. A nationally known speaker and authority on entrepreneurship, Rieva has been covering America’s entrepreneurs for more than 30 years. Before co-founding GrowBiz Media, Lesonsky was the long-time Editorial Director of Entrepreneur Magazine. Lesonsky has appeared on hundreds of radio shows and numerous local and national television programs, including the Today Show, Good Morning America, CNN, The Martha Stewart Show and Oprah.

 

Lesonsky regularly writes about small business for numerous websites and for corporations targeting entrepreneurs. Many organizations have recognized Lesonsky for her tireless devotion to helping entrepreneurs. She served on the Small Business Administration’s National Advisory Council for six years, was honored by the SBA as a Small Business Media Advocate and a Woman in Business Advocate, and received the prestigious Lou Campanelli award from SCORE. She is a long-time member of the Business Journalists Hall of Fame.

 

Web: www.growbizmedia.com or Twitter: @Rieva

You can read more articles from Rieva Lesonsky by clicking here

 

Bank of America, N.A. engages with Rieva Lesonsky to provide informational materials for your discussion or review purposes only. Rieva Lesonsky is a registered trademark, used pursuant to license. The third parties within articles are used under license from Rieva Lesonsky. Consult your financial, legal and accounting advisors, as neither Bank of America, its affiliates, nor their employees provide legal, accounting and tax advice.

 

Bank of America, N.A. Member FDIC. ©2018 Bank of America Corporation

Do you think it’s impossible for a small retailer to compete against e-commerce giants? It can be tempting to imagine the worst when almost half (49 percent) of all online purchases in the U.S. are made on Amazon, according to a recent survey, and 83 percent of consumers have bought something on Amazon in the past six months.

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Fear not! There’s still opportunity for independent brick-and-mortar retailers to fight Goliath. Here’s how you can battle the giants and come out on top.

 

Make shopping simple. Convenience is the primary reason 28 percent of shoppers use Amazon. While you can’t compete with bigger retailers on price, you cancompete on convenience. For example:

 

  • Streamline the payment process. Offer a range of payment options, including mobile wallets, so customers can pay in the way they prefer.
  • Shorten wait times. Almost half of consumers alwaysvisit a physical store when they need a product fast. To make it snappy, use mobile devices to process transactions from anywhere in the store.
  • Simplify returns. Clearly state your return policy and train all your employees on how to accept returns so the process goes quickly.
  • Offer click-and-collect. If you have an e-commerce website as well as a store, give customers the option to pick up online orders in the store so they can get them quickly.

 

Provide a personal touch. E-commerce retailers offer personalization via automated emails and recommended purchases delivered by artificial intelligence algorithms. Your store can offer that and much more. Here’s how:

 

  • Use retail loyalty software to gather detailed data about loyalty program members, and marketing automation to deliver timely messages, special offers and shopping suggestions.
  • Share customer data with your salespeople so they can make personalized suggestions or alert shoppers when a particular product is available. Some 79 percentof shoppers say personalized service affects where they buy.
  • Hire employees who genuinely like people and provide training that empowers them to help your customers.
  • Educate your employees about your products so they can explain options, offer suggestions and help customers make decisions.
  • Equip your team with tools they can use to provide a better customer experience, such as inventory management software to show shoppers what’s available.

 

Claim your place in the community. Your physical presence in the community is a key differentiator. Here are some ways to play it up:

 

  • Emphasize your independent spirit. Tell your story in your marketing materials. Why did you start your store? Why are you so passionate about what you sell? What do you love about being an entrepreneur?
  • Encourage customers to shop local. Almost 90 percent of consumers say independent businesses strengthen local economies. Remind customers that supporting your store also means supporting the community through sales taxes and employment. If your community doesn’t have a Shop Local organization, start one.
  • Get involved in your community. Give back by volunteering for local charities and participating in community organizations. Sponsor a local sports team. When people see you care, they’re more likely to buy from you.
  • Create community at your store. Hold in-store events such as book signings, musical performances, or classes for customers. Use social media to build bonds with your real-life community online. 

 

Enable discovery and delight. Online shopping can’t match the element of discovery that retail stores offer. Try these tips to delight your customers: 

 

  • Curate your merchandise. Instead of the endless options giant ecommerce sites offer, streamline your selection so customers can choose from the very best.
  • Appeal to the senses. Use sight, sound, smell, and touch to make your store a place where customers enjoy spending time.
  • Keep ’em coming back. Change your store inventory and displays regularly so there’s always something new to discover and shoppers will return more often.
  • Be unique. Almost 40 percent of Amazon shoppers say they’d go elsewhere if a retailer carried unique products.

 

Nearly 86 percent of retail sales still take place in brick-and-mortar locations. Follow these tips, and hopefully, your store will be one of them.

 

About Rieva Lesonsky

 

Rieva Lesonsky Headshot.png

Rieva Lesonsky is CEO and Co-founder of GrowBiz Media, a custom content and media company focusing on small business and entrepreneurship, and the blog SmallBizDaily.com. A nationally known speaker and authority on entrepreneurship, Rieva has been covering America’s entrepreneurs for more than 30 years. Before co-founding GrowBiz Media, Lesonsky was the long-time Editorial Director of Entrepreneur Magazine. Lesonsky has appeared on hundreds of radio shows and numerous local and national television programs, including the Today Show, Good Morning America, CNN, The Martha Stewart Show and Oprah.

 

Lesonsky regularly writes about small business for numerous websites and for corporations targeting entrepreneurs. Many organizations have recognized Lesonsky for her tireless devotion to helping entrepreneurs. She served on the Small Business Administration’s National Advisory Council for six years, was honored by the SBA as a Small Business Media Advocate and a Woman in Business Advocate, and received the prestigious Lou Campanelli award from SCORE. She is a long-time member of the Business Journalists Hall of Fame.

 

Web: www.growbizmedia.com or Twitter: @Rieva

You can read more articles from Rieva Lesonsky by clicking here

 

Bank of America, N.A. engages with Rieva Lesonsky to provide informational materials for your discussion or review purposes only. Rieva Lesonsky is a registered trademark, used pursuant to license. The third parties within articles are used under license from Rieva Lesonsky. Consult your financial, legal and accounting advisors, as neither Bank of America, its affiliates, nor their employees provide legal, accounting and tax advice.

 

Bank of America, N.A. Member FDIC. ©2018 Bank of America Corporation

Move over, Millennials: A new generation is about to shake up offices near you. Generation Z is getting ready to enter the workforce, with the oldest members between the ages of 18 or 23, depending on your definition (Bloomberg and the Census Bureau say the first Gen Z’ers were born in 2001, while others such as Pew Research dates its beginning to 1996).

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How will Generation Z transform workplace culture? While it’s still early, here are some insights into how this age group thinks, the way they work and what they expect from employers.

 

They’re money conscious: Generation Z grew up seeing their parents struggle during the Great Recession and, like millennials, many are graduating with high levels of college debt. No wonder financial security is top of mind. In a recent survey, more than one-third of Gen Z respondents plan to start saving for retirement in their 20s—and 12 percent have already started! Offering solid benefits packages—including retirement plans and health insurance—will be key to attracting Gen Z employees. Offer college loan repayment assistance and you’ll really win their loyalty.

 

They’re digital natives: This is the first generation that has always known smartphones, social media, and the internet. They’re comfortable with all types of technology and expect your business to be up-to-date with the latest tech tools. Gen Z will have little patience for practices that waste time or natural resources (paper). If you’re not quite there it’s a good opportunity to take advantage of their know-how to up your business’s technology game.

 

They struggle with soft skills: Gen Z can text in their sleep and know the meaning of every emoji, but common business interactions such as writing and responding to emails or making phone calls or having face-to-face discussions may be new territory. Gen Z employees tend to interact online more often than IRL – in real life. They’re less likely to have held jobs in their teens than previous generations because more were in college (or doing extracurriculars to get into college) at that time. You may need to provide some training to get entry-level Gen Z workers up to speed on their soft skills.

 

They work hard.They may not come fully polished on day one, but the Gen Z demographic grew up competing for everything from social media status to college admission. As a result, they’re a driven bunch, willing to try new things and learn new skills. Seven in 10 members of Generation Z say it’s more important to be curious and open-minded than to have specific skill sets. Don’t be afraid to challenge Gen Z employees with “stretch goals.”

 

They need support. They’re eager to take on challenges, but Gen Z isn’t overconfident or cocky. In fact, this generation suffers from high levels of anxiety. One-third of Gen Z say mentorship is the most important benefit a workplace can offer, and 65 percent say they need frequent feedback from employers to stay in their jobs. Use frequent check-ins to boost their confidence and help them grow into their roles.   

 

They’re collaborative loners. Anxiety, social or otherwise, means Generation Z employees do some of their best work solo. However, they also express a desire for human interaction as part of teams. An office space that incorporates both private workspaces and communal areas will support Gen Z’s need for both solitude and collaboration.

 

They value authenticity. Even more than millennials, Gen Z expects the workplace to embrace their authentic selves and support causes they care about. As the most ethnically diverse generation in American history, it’s no wonder “equality” is the number-one cause they care about. Your workplace needs to welcome all types of people in order for Gen Z to be their best.

 

I’m not a big fan of lumping people into categories. (When Generation X entered the workforce, they were derided as “slackers;” millennials were mocked as entitled. Both of those demographics have turned out pretty well.) The best way to make the most of Gen Z employees: Treat them like unique human beings.

 

About Rieva Lesonsky

 

Rieva Lesonsky Headshot.png

Rieva Lesonsky is CEO and Co-founder of GrowBiz Media, a custom content and media company focusing on small business and entrepreneurship, and the blog SmallBizDaily.com. A nationally known speaker and authority on entrepreneurship, Rieva has been covering America’s entrepreneurs for more than 30 years. Before co-founding GrowBiz Media, Lesonsky was the long-time Editorial Director of Entrepreneur Magazine. Lesonsky has appeared on hundreds of radio shows and numerous local and national television programs, including the Today Show, Good Morning America, CNN, The Martha Stewart Show and Oprah.

 

Lesonsky regularly writes about small business for numerous websites and for corporations targeting entrepreneurs. Many organizations have recognized Lesonsky for her tireless devotion to helping entrepreneurs. She served on the Small Business Administration’s National Advisory Council for six years, was honored by the SBA as a Small Business Media Advocate and a Woman in Business Advocate, and received the prestigious Lou Campanelli award from SCORE. She is a long-time member of the Business Journalists Hall of Fame.

 

Web: www.growbizmedia.com or Twitter: @Rieva

You can read more articles from Rieva Lesonsky by clicking here

 

Bank of America, N.A. engages with Rieva Lesonsky to provide informational materials for your discussion or review purposes only. Rieva Lesonsky is a registered trademark, used pursuant to license. The third parties within articles are used under license from Rieva Lesonsky. Consult your financial, legal and accounting advisors, as neither Bank of America, its affiliates, nor their employees provide legal, accounting and tax advice.

 

Bank of America, N.A. Member FDIC. ©2018 Bank of America Corporation

March 8, International Women’s Day, is a daycelebrating women’s social, economic, cultural and political achievements around the world. But it’s also a day to take action to build a more gender-balanced world.

 

This year, IWD’s theme is #BalanceforBetter. Creating a better balance at work pays off for more than just the women involved. A global study by Accenture found that when women advance at work, men are more likely to advance, too. (Check out Pixar’s short film Purl for a humorous look at how diversity makes a business a better place to work.)

How can your small business help strike a better balance at work by putting more women in positions of power?

 

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  • Make gender diversity a priorityin your business. A balanced business doesn’t happen by accident. Create a plan for achieving gender balance with specific, measurable goals. Do you want to increase the percentage of women in management roles? Achieve pay equity (according to the Department of Labor, women still earn on average 78 cents for every dollar earned by men)? Attract more women to IT jobs in your business? Share your plan with your employees to hold yourself accountable. Then share your commitment on social media to celebrate International Women’s Day. Download IWD selfie cards, posters, event packs and other tools at the IWD website.

 

  • Be sure your hiring practices are balanced. Your hiring policies may be inadvertently turning women off from applying for jobs at your business. According to a study from researchers at Cornell University, women and minorities generally won’t apply for a job unless they meet every single requirement for experience, skills and qualifications. Instead of saying “5 years minimum experience as accounting manager required,” say “Successful candidates will demonstrate significant experience in a senior role in accounting.” You’re likely to get a wider range of candidates applying. Cornell’s research also found that using male-oriented words like “ninja” or “rock star” in your ads tends to discourage women from applying.

 

  • Implement policies that support women. Child care and elder care responsibilities still fall disproportionately on women. Many women don’t climb the workplace ladder because the long hours or frequent travel required by leadership roles don’t fit their family needs. Offer flexible hours and remote work options that make it easier for women to advance while handling family responsibilities.

 

  • Consider off-hours activities, too. A friend of mine worked at a company that routinely invited male executives to golf outings, paintball battles, sky diving and other “manly” pursuits on weekends. Female execs at the same level didn’t get invitations and were excluded from the chance to build relationships with co-workers and clients. While this is a blatant example of bias, you could be unintentionally biased if activities that help people advance at work are held outside work hours, when many women can’t attend due to family issues.

 

  • Prepare women employees for advancement. Identify women with leadership potential and provide mentorship, training and encouragement to help them develop their skills. For instance, you can enroll them in professional organizations or send them to leadership development and training programs.

 

  • Educate your employees. Bias against women is sometimes so ingrained we don’t recognize it. Lean In has partnered with IWD to offer free ready-to-use presentations, like the workshop “50 Ways to Fight Bias,” which offers specific examples to help participants identify gender bias. The presentation is sure to spark conversation, and also provides research-backed recommendations for how to remedy gender bias. You can also browse Lean In’s library of expert talks, discussion guides and resources.

 

The 2019 #BalanceforBetter campaign doesn’t end on International Women’s Day—it runs all year long. Keep your commitment to a better-balanced business going, and you, your business and your employees all stand to benefit.

 

 

     READ NEXT:

 

 

About Rieva Lesonsky

 

Rieva Lesonsky Headshot.png

Rieva Lesonsky is CEO and Co-founder of GrowBiz Media, a custom content and media company focusing on small business and entrepreneurship, and the blog SmallBizDaily.com. A nationally known speaker and authority on entrepreneurship, Rieva has been covering America’s entrepreneurs for more than 30 years. Before co-founding GrowBiz Media, Lesonsky was the long-time Editorial Director of Entrepreneur Magazine. Lesonsky has appeared on hundreds of radio shows and numerous local and national television programs, including the Today Show, Good Morning America, CNN, The Martha Stewart Show and Oprah.

 

Lesonsky regularly writes about small business for numerous websites and for corporations targeting entrepreneurs. Many organizations have recognized Lesonsky for her tireless devotion to helping entrepreneurs. She served on the Small Business Administration’s National Advisory Council for six years, was honored by the SBA as a Small Business Media Advocate and a Woman in Business Advocate, and received the prestigious Lou Campanelli award from SCORE. She is a long-time member of the Business Journalists Hall of Fame.

 

Web: www.growbizmedia.com or Twitter: @Rieva

You can read more articles from Rieva Lesonsky by clicking here

 

Bank of America, N.A. engages with Rieva Lesonsky to provide informational materials for your discussion or review purposes only. Rieva Lesonsky is a registered trademark, used pursuant to license. The third parties within articles are used under license from Rieva Lesonsky. Consult your financial, legal and accounting advisors, as neither Bank of America, its affiliates, nor their employees provide legal, accounting and tax advice.

 

Bank of America, N.A. Member FDIC. ©2018 Bank of America Corporation

Is your small business (or your dream of starting one) on the right track? Whether your business is still in the planning stages or is a well-established venture, having a long-term vision for your business is essential to moving it forward.

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How can you achieve your loftiest plans? Follow these six steps.

 

Step 1: Clarify your business vision

 

The term visionmay conjure up images of a distant, hazy landscape. But if you want to achieve your business vision, you must  be crystal clear on what it is. Start with a “brain dump” of what you want for your business within the next one, three and five years (or even further out). Your vision might be revamping your brand, expanding to an entirely new market or region, becoming a household name, or reaching a certain sales target.

 

  • Tip: Creating a vision board showing what you want can help you identify goals and think about what achieving that vision would look and feel like. 

 

Step 2: Make a plan

 

If your business is still in the pre-startup stages, now’s the time to write a business plan. (BPlans and SCORE* have tons of useful business plan resources.) Even if your business is up and running it’s not too late. Plan for achieving your vision as carefully as you did your startup. For example, if you want to expand your retail business nationally, where do you need to start?

 

  • Tip: Think through what’s involved and write out each step.

 

Step 3: Break it down

 

Your vision plan will be overwhelming if you try to tackle it all at once. Dig into your plan and break every step into smaller steps. For example, for the vision of expanding nationally, one step might be identifying possible locations. You can break this into smaller steps such as:

 

    • Identifying potential markets
    • Researching demographics in those markets
    • Investigating vendors and suppliers in those markets
    • Visiting commercial real estate websites
    • Contacting commercial real estate agents

 

  • Tip: If you’re having trouble getting started on a particular step, break it down even smaller. For instance, “Contacting commercial real estate agents” can start with “Find contact information for 3 agents.” Even taking small steps will give you a sense of progress and help keep you on track.

 

Step 4: Find your cheerleaders

 

Making your business vision a reality will take time and commitment. To improve your odds of success, find supporters to motivate you when times are tough. These can include experts and advisors such as a business mentor, colleagues who have your back, or friends and family members who always know the right thing to say.

 

  • Tip: You’re not looking for “yes men,” but rather for good listeners to bounce ideas off of and vent frustrations in an appropriate environment.

 

Step 5: Track your progress

 

On the journey to achieve your vision, it’s easy to stray off course—especially when you’re also handling the day-to-day challenges of running a small business. That’s why it’s so important to track your progress. Set up periodic check-ins with yourself and your team. Schedule them weekly, monthly, quarterly or at whatever frequency works best for you. The key is to hold yourself and your employees accountable for continually working toward the goals that you’ve set.

 

  • Tip: At each check-in, review your progress, assess whether you need to modify your plans, and recommit to moving forward.

 

Step 6: Celebrate your successes

 

Making your vision a reality can be a long process. Along the way, take time to celebrate victories, no matter how small. When team members achieve goals, give them rewards and public praise. When the team reaches a milestone, throw a party or take them to lunch. If you’re a solo entrepreneur, reward yourself whenever you surmount a hurdle. Treat yourself to something special or take time out for an activity you enjoy.

 

By following these six steps, you’ll achieve your vision for your business before you know it. What’s on your horizon?  Tell us in the Comments section below.

 

*Disclaimer: SCORE is a client of my company.

Owning a restaurant is the culmination of the American Dream for many—particularly within immigrant communities. In fact, according to the U.S. census, as reported in Nation’s Restaurant News (NRN),immigrants own 29 percent of all restaurants and hotels in the U.S., more than twice the 14 percent rate for all businesses.

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As romantic and exciting as owning a restaurant might be, it’s not easy. Food trends are constantly shifting—with some disappearing as quickly as they emerged. Still, despite some reports of a coming “bloodbath” in the industry, there are signs of stabilization and even growth. NRNreports on data from TDn2K’s Black Box Intelligence showing same-store sales in December grew 2 percent, the highest in more than three years. December was also the seventh straight month of positive industry growth. Overall, same-store sales in 2018 were up 0.7 percent, which may not seem like a lot, but was the industry’s “best performance” since 2015.

To find out about the latest restaurant trends I talked to Nancy Luna, Senior Editor at Nation’s Restaurant News.

 

Rieva Lesonsky: What current national trends are you seeing? Last year it seemed it was all about providing breakfast all day. What’s the “must do” for 2019?

 

Nancy Luna: Restaurant trends these days are more focused on operational efficiency The continued shift toward an on-demand society is forcing restaurants to provide customers with delicious food in a timely manner through delivery, and mobile order/pickup. This is happening in both QSR [quick service] and casual di

ning. Not so much in fine dining.

 

Lesonsky: What changes do you think restaurants need to make to appeal to millennials, the nation’s largest consumer group?

 

Luna: I would argue restaurants are no longer catering specifically to millennials. That was overtly true two-three years ago. Today’s restaurants, at least the smart ones, are moving towards capturing a new category of diners: on-the-go, stay-at-home eaters who want to sit on their couch eating their favorite restaurant food while binge-watching shows on Netflix. That could be Gen Y, Gen X or Gen Z. You can see this playing out in QSR and Fast Casual, as [I] cited in this story.

 

Lesonsky: You’ve confirmed what I’ve heard—that every restaurant must offer a delivery option. True, or is it hyperbole?

 

Luna: Mostly true. Clearly delivery is not the right business model for fine dining concepts. It’s most advantageous for casual dining, which has struggled to compete with the quality and affordability of fast casual players. For casual dining, delivery levels the playing field and has contributed to incremental sales, according to chains I’ve interviewed.

 

Restaurant Trends to Watch

 

As for what America wants to eat, Restaurant Business says these trends will take hold in 2019.

 

  • Look for more plant-based patties on restaurant menus, as well as “veg-forward dishes.”
  • Yet “2019 will see a record-high beef supply…and prices have declined for prime rib-eyes and loins. More favorable beef costs may translate to more of this red meat on menus, perhaps in smaller portions in sync with healthy eating trends.”
  • Butter is back. Restaurant Businesssays it will be “enhancing everything from coffee to grilled meats with rich flavor.”
  • Sour power. The “rise of Persian and Filipino cuisines” have pushed extreme sour foods into the mainstream. That means foods flavored with ingredients such as vinegar, tamarind, pomegranates, and sour oranges.

 

For more on 2019 restaurant trends, check out this article.

 

About Rieva Lesonsky
Rieva Lesonsky Headshot.png

Rieva Lesonsky is CEO and Co-founder of GrowBiz Media, a custom content and media company focusing on small business and entrepreneurship, and the blog SmallBizDaily.com. A nationally known speaker and authority on entrepreneurship, Rieva has been covering America’s entrepreneurs for more than 30 years. Before co-founding GrowBiz Media, Lesonsky was the long-time Editorial Director of Entrepreneur Magazine. Lesonsky has appeared on hundreds of radio shows and numerous local and national television programs, including the Today Show, Good Morning America, CNN, The Martha Stewart Show and Oprah.

 

Lesonsky regularly writes about small business for numerous websites and for corporations targeting entrepreneurs. Many organizations have recognized Lesonsky for her tireless devotion to helping entrepreneurs. She served on the Small Business Administration’s National Advisory Council for six years, was honored by the SBA as a Small Business Media Advocate and a Woman in Business Advocate, and received the prestigious Lou Campanelli award from SCORE. She is a long-time member of the Business Journalists Hall of Fame.

 

Web: www.growbizmedia.com or Twitter: @Rieva

You can read more articles from Rieva Lesonsky by clicking here

 

Bank of America, N.A. engages with Rieva Lesonsky to provide informational materials for your discussion or review purposes only. Rieva Lesonsky is a registered trademark, used pursuant to license. The third parties within articles are used under license from Rieva Lesonsky. Consult your financial, legal and accounting advisors, as neither Bank of America, its affiliates, nor their employees provide legal, accounting and tax advice. Bank of America, N.A. Member FDIC. ©2018 Bank of America Corporation

It’s our job as entrepreneurs to keep up with the latest trends—but it can be hard to keep up. It’s essential to know what’s driving consumer spending and how you can integrate new trends into your small business. Here’s what to look for in 2019. Have more? Let us know what trends you’re following in the comments section below.

 

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1. Generational marketing

 

There are currently five generations in America, each with its own set of demands. Three (baby boomers, millennials and Gen Z) are so large they have an outsize impact on industries and specific businesses. But no one has more influence in the marketplace than millennials.

 

2. Millennials

 

This huge generation—there are 84 million of them, ranging in age from 19 to 37—is too big to ignore. And they’re in the stage of life where they’re impacting so many businesses. Take weddings – already, according to The Knot, a $72 billion industry. Businesses affiliated with weddings, from retailers, to jewelry designers to restaurants, photographers, florists and dozens more, are poised to grow even more as younger millennials approach the median age of first marriage—29 for women and 31 for men.

 

The Knot reports two to three years after getting married, 35 percent of millennials start a family and 24 percent buy a home. That leads to many entrepreneurial opportunities for years to come.

 

3. Millennial parents

 

Millennials are the nation’s parents—they head 51.2 percent of households with children under age 18. Parents are big spenders—to the tune of $1 trillion a year. And, for the first time, women in their 30s are having more kids than those in their 20s. This is great news for entrepreneurs, since older parents spend more money on food, furniture, clothing, décor, and toys for their kids. More than one million millennial women become new mothers every year, and since so many millennials are still in their 20s, this is a long-lasting trend.

 

4. Home, sweet home

 

Home ownership peaked in 2004, but is now on the rise, thanks to millennials. Between millennials and older generations of home owners holding on to their houses, businesses involved in the remodeling industry will get a boost. According to the National Association of Home Builders, the most in-demand remodeling projects include bathroom, kitchen and whole-house remodels. Homeowners are also asking for more green home features.

 

Seniors (including baby boomers) are demanding more home services—82 percent of them are still home owners. They’re hiring contractors to senior proof their homes. They want wider doorways, lower cabinets, wood floors, and bathroom remodels to make their homes safer and more accessible.

 

They often prefer others handle home maintenance chores, turning to home services businesses to get the job done. While housecleaning, lawn care, snow removal and handyman services aren’t just for seniors, targeting this market can help small businesses build a thriving business.

 

5. Mangia!

 

Americans love to eat, so there’s no shortage of new food trends. According to restaurant and hospitality consulting firm af&co., donuts are 2019’s “dessert of the year.” These aren’t your typical donuts though—consumers want artisanal treats with “unexpected savory flavors and fillings.”

 

Food on demand (either pick-up or delivery) is also soaring. Off-premises dining (including carryout, delivery, drive-through, curbside pickup and food trucks) accounts for 63 percent of restaurant traffic nationwide, and delivery is the fastest-growing segment of this market, says the National Restaurant Association. Consumers expect restaurants to deliver food. 

 

Younger millennials actually prefer off-premises dining—24 percent order takeout three to four times a week, compared to 21 percent of older millennials, 17 percent of Gen Xers and 6 percent of baby boomers, according to the International Foodservice Manufacturers Association (IFMA) and the Center for Generational Kinetics.

 

6. Looking Good

 

Men’s grooming is a burgeoning industry. Men’s personal care products (including skincare, deodorant, soap/bath products, hair products & shaving/depilatories) are already a $4.5 billion industry. Millennials are driving this trend as well, increasingly scooping up anti-aging products. According to new research from Mintel, 34 percent of dads (with children under 18) who use personal care products care about preventing the signs of aging, compared to 26 percent of male personal care product users overall.

 

And yet, according to the Mintel Global New Products Database, only a small percentage of men’s personal care products make anti-aging claims. This leaves a huge gap in the market. Mintel says, there’s “a significant opportunity for anti-aging personal care products specifically formulated for and marketed to men.”

 

These are just a few of the trends Americans are expected to embrace in 2019. Consumers have rising expectations, however, so you’ll have to work hard to meet them.

 

     What’s next?

 

 

About Rieva Lesonsky

 

Rieva Lesonsky Headshot.png

Rieva Lesonsky is CEO and Co-founder of GrowBiz Media, a custom content and media company focusing on small business and entrepreneurship, and the blog SmallBizDaily.com. A nationally known speaker and authority on entrepreneurship, Rieva has been covering America’s entrepreneurs for more than 30 years. Before co-founding GrowBiz Media, Lesonsky was the long-time Editorial Director of Entrepreneur Magazine. Lesonsky has appeared on hundreds of radio shows and numerous local and national television programs, including the Today Show, Good Morning America, CNN, The Martha Stewart Show and Oprah.

 

Lesonsky regularly writes about small business for numerous websites and for corporations targeting entrepreneurs. Many organizations have recognized Lesonsky for her tireless devotion to helping entrepreneurs. She served on the Small Business Administration’s National Advisory Council for six years, was honored by the SBA as a Small Business Media Advocate and a Woman in Business Advocate, and received the prestigious Lou Campanelli award from SCORE. She is a long-time member of the Business Journalists Hall of Fame.

 

Web: www.growbizmedia.com or Twitter: @Rieva

You can read more articles from Rieva Lesonsky by clicking here

 

Bank of America, N.A. engages with Rieva Lesonsky to provide informational materials for your discussion or review purposes only. Rieva Lesonsky is a registered trademark, used pursuant to license. The third parties within articles are used under license from Rieva Lesonsky. Consult your financial, legal and accounting advisors, as neither Bank of America, its affiliates, nor their employees provide legal, accounting and tax advice.

 

Bank of America, N.A. Member FDIC. ©2018 Bank of America Corporation

Have you wrestled with issues such as these?

 

  • Your business is struggling financially. A supplier sends you their monthly invoice—and they’ve significantly undercharged you. Do you correct the error?agreement-arms-business-1081228.jpg
  • Your children’s toy store is in the thick of the holiday shopping season when you discover that your best-selling product line is made using child labor. Do you keep selling the products?
  • You’ve received complaints that one of your employees is making derogatory and inappropriate comments to coworkers. But he’s your top salesperson and you know he’s recently received another job offer. Do you confront him?

 

In these and other situations, a small business owner may have to choose between principles and profits. But is it really an either-or choice?

 

Short-term profits, long-term price

 

Sticking to your principles may cost you in the short term. In the examples above, it could cost you money, customers or your best salesperson. But if you abandon your principles, you’ll pay a higher price in the long term.

 

Actually, you may not have to wait that long. Social media makes it easier than ever for customers and prospects to see what your principles are and when  you’re conveniently ignoring them. A potential job candidate could see employees at your company complaining about on-the-job harassment. A customer could discover the child labor issue before you do. Transparency gives consumers the upper hand.

 

Profiting from principles

 

In fact, sticking to your principles can pay off. According to a Deloitte study, purchasing drivers such as “social impact, health and wellness, safety and experience” are becoming more important as consumers increasingly base purchasing decisions on their values and beliefs.

 

In the last 12 months, 74 percent of consumers in a JUST Capital survey say they began purchasing or purchasing more of a company’s products or services in order to show support for its positive behavior. The same poll found nearly eight out of 10 Americans would take lower pay to work for a company they perceive as “just.”

 

The stock market believes principles and profits can work hand in hand. The Dow Jones Sustainability Index rates public companies based on the triple bottom line: people, planet and profit. Participating companies report on their financial, social and environmental performance.

 

What principles do consumers care about most? The way you treat your employees takes top billing. Worker conditions, including fair pay, good benefits and a safe workplace, are the top priority for one-fourth of U.S. consumers considering companies’ principles, JUST reports.

 

How to balance principles and profit

 

How can you hold onto your principles while still making a profit?

 

  • Identify your business principles. What are your core values? What does your business stand for? Review your mission statement, value statement or vision statement. Are they still accurate?
  • Talk to your team. What do your employees think your business stands for? Do they believe the company is truly living its values? Your employees are the ambassadors for your business; they must be on the same page when it comes to company values.
  • Build your business’s values into your employee training. Set guidelines for how employees should treat customers, coworkers and vendors, as well as consequences for not doing so.
  • Practice. It’s not easy to make ethical decisions on the spot. Practice by roleplaying potential scenarios as a group. What should employees do if they see another employee harassing a co-worker? Is there ever a time when it’s justified to take office supplies home?
  • Look in the mirror. If your business isn’t living up to its principles, do you play a role in that? Perhaps you set production quotas so high that employees have to rush to keep up, compromising product quality. Own your mistakes and lead by example going forward.
  • Keep your eyes open. Pay attention to what your vendors, customers and suppliers are doing. It’s a global world and we’re all connected. Doing business with people and companies that share your principles will strengthen your commitment to your values.

 

Principles and profits can and should go hand in hand. Committing to your business principles and educating your customers about them will boost your brand—and ultimately, your profits.

 

Read next:

 

 

 

About Rieva Lesonsky

 

Rieva Lesonsky Headshot.png

Rieva Lesonsky is CEO and Co-founder of GrowBiz Media, a custom content and media company focusing on small business and entrepreneurship, and the blog SmallBizDaily.com. A nationally known speaker and authority on entrepreneurship, Rieva has been covering America’s entrepreneurs for more than 30 years. Before co-founding GrowBiz Media, Lesonsky was the long-time Editorial Director of Entrepreneur Magazine. Lesonsky has appeared on hundreds of radio shows and numerous local and national television programs, including the Today Show, Good Morning America, CNN, The Martha Stewart Show and Oprah.

 

Lesonsky regularly writes about small business for numerous websites and for corporations targeting entrepreneurs. Many organizations have recognized Lesonsky for her tireless devotion to helping entrepreneurs. She served on the Small Business Administration’s National Advisory Council for six years, was honored by the SBA as a Small Business Media Advocate and a Woman in Business Advocate, and received the prestigious Lou Campanelli award from SCORE. She is a long-time member of the Business Journalists Hall of Fame.

 

Web: www.growbizmedia.com or Twitter: @Rieva

You can read more articles from Rieva Lesonsky by clicking here

 

Bank of America, N.A. engages with Rieva Lesonsky to provide informational materials for your discussion or review purposes only. Rieva Lesonsky is a registered trademark, used pursuant to license. The third parties within articles are used under license from Rieva Lesonsky. Consult your financial, legal and accounting advisors, as neither Bank of America, its affiliates, nor their employees provide legal, accounting and tax advice.

 

Bank of America, N.A. Member FDIC. ©2018 Bank of America Corporation

Your business is thriving. Customers keep asking when you’re going to open another location. Some even ask if your business is a franchise—and if they can buy one.

 

accomplishment-agreement-business-1249158.jpg

So, you wonder: should you start franchising your concept? Not so fast. Just because your business is successful doesn’t mean it can – or should – be franchised.

 

Here are five steps to take before franchising your business.

 

Step 1: Assess your business.

 

Is your business running smoothly? Do you have operations manuals, training processes and documented systems in place? If you take a vacation, does the business fall apart or run like clockwork?

 

Do you have multiple locations? Before considering franchising, start small by expanding your business locally or regionally. This proves your concept’s viability outside of its initial location, educates you in managing multiple locations, and raises brand awareness—which helps sell franchises later.

 

Step 2: Assess your market.

 

Just as when starting your business, do market research before franchising it. Ask:

 

  • Is the industry growing?
  • Is the customer base growing?
  • Does the concept have “legs?” A business based on a fad may succeed in one location but has little chance of lasting.
  • Who are your competitors and what advantages do you have?

 

Step 3: Assess your capital needs.

 

Franchising can be a cost-effective way to grow your business, because franchisees finance their startups, sign their own leases and take responsibility for operating costs.

However, until you actually sell some franchises, you’ll be footing the bill for legal and accounting assistance, franchisee training and support, and marketing and sales costs. Gather adequate capital to finance your franchise plans.

 

Step 4: Assess yourself.

 

Being a franchisor is different than being an independent business owner. As a franchisor, your focus will be on selling franchises and supporting your franchisees—not on baking pies, teaching children’s gymnastics or whatever passion encouraged your business. If you don’t have what it takes, hire or partner with someone who does.

 

Step 5: Get professional help

 

Franchising requires lots of decisions:

  • What criteria you’ll set for franchisees
  • What fees and royalties you’ll charge
  • Franchisee territories
  • Whether to sell master franchises
  • Requirements for using suppliers and vendors
  • The training and support you’ll provide franchisees

 

Put these professionals on your team to help:

 

Accountant

 

An accountant can help you determine if you have the necessary capital to franchise, if franchising is financially viable, and what franchise fees and royalties to charge. (Being a franchisor is not cheap—startup costs, at minimum, will likely run in the hundreds of thousands of dollars.)

 

Attorney

 

Franchising is highly regulated on both federal and state levels. An attorney can create a Franchise Disclosure Document (FDD) and help you register it with the  Federal Trade Commission. The FDD includes detailed information about your franchise opportunity, such as audited financial statements, management experience, franchise costs and fees, the franchise contract and more. Several states also require registering your FDD with the state.

 

Franchise developer

 

Franchisee training and support materials are key to a successful franchise system. (If franchisees fail, it hurts your brand image—and your profits.) A franchise developer can help you create training materials, operations manuals, company policies and more.

 

Franchise broker/consultant

 

As a franchisor, you’ll need to market your business both to consumers and to prospective franchisees. A franchise broker (sometimes called a franchise consultant) can help with the latter. Brokers match franchisees with franchises and receive a commission from the franchisor. Franchise consultants do the same but are paid a flat fee by the prospective franchisee. Since strict rules govern franchise sales, working with a broker or consultant can help your franchise grow with less effort on your part.

 

Franchising resources

 

For more information, visit:

 

Be sure to read this franchising advice from a serial entrepreneur.

 

Learn about franchise financing options from Bank of America.  

 

Read next:

 

About Rieva Lesonsky

 

Rieva Lesonsky Headshot.png

Rieva Lesonsky is CEO and Co-founder of GrowBiz Media, a custom content and media company focusing on small business and entrepreneurship, and the blog SmallBizDaily.com. A nationally known speaker and authority on entrepreneurship, Rieva has been covering America’s entrepreneurs for more than 30 years. Before co-founding GrowBiz Media, Lesonsky was the long-time Editorial Director of Entrepreneur Magazine. Lesonsky has appeared on hundreds of radio shows and numerous local and national television programs, including the Today Show, Good Morning America, CNN, The Martha Stewart Show and Oprah.

 

Lesonsky regularly writes about small business for numerous websites and for corporations targeting entrepreneurs. Many organizations have recognized Lesonsky for her tireless devotion to helping entrepreneurs. She served on the Small Business Administration’s National Advisory Council for six years, was honored by the SBA as a Small Business Media Advocate and a Woman in Business Advocate, and received the prestigious Lou Campanelli award from SCORE. She is a long-time member of the Business Journalists Hall of Fame.

 

Web: www.growbizmedia.com or Twitter: @Rieva

You can read more articles from Rieva Lesonsky by clicking here

 

Bank of America, N.A. engages with Rieva Lesonsky to provide informational materials for your discussion or review purposes only. Rieva Lesonsky is a registered trademark, used pursuant to license. The third parties within articles are used under license from Rieva Lesonsky. Consult your financial, legal and accounting advisors, as neither Bank of America, its affiliates, nor their employees provide legal, accounting and tax advice.

 

Bank of America, N.A. Member FDIC. ©2018 Bank of America Corporation

I’m often asked, “what makes entrepreneurs different?” One factor is the ability to look at something and see the opportunity others often overlook.

 

That’s what sets Maddie Purcell, the founder of Portland, Maine-based Fyood Kitchen, apart. Like millions of Americans, Purcell was a big fan of Chopped, a mainstay on the Food Network. Chopped is a cooking competition show where contestants are given baskets of mystery ingredients and need to create a delicious dish on the spot.

 

Image result for Maddie Purcell

Purcell loved Chopped so much she played at home with her best friend. But, unlike millions of Americans, Purcell took that obsession and turned it into a business. Fyood Kitchen, launched in 2016, brings the Chopped experience to the masses. Fyood, Purcell says, “puts on outrageously fun, amateur, social cooking competitions.”

 

Purcell was recently recognized by SCORE and the SCORE Foundation as their Outstanding Young Entrepreneur of the Year.

 

Rieva Lesonsky: What inspired you to start a business based on Chopped?

 

Maddie Purcell: I was stuck in an unfulfilling job and realized I wanted to run my own company. I made lists of potential problems I could solve looking for the right fit. I worked on another startup idea for six months. Then I took part in an informal Chopped-style competition in a friend’s professional kitchen and it was the most fun night I’d ever had. I knew I would pay to do that regularly and wanted to give people the opportunity to have this experience.

 

Lesonsky: How did you get started?

 

Purcell: I didn’t know how to start so I decided to host several cooking competitions in my apartment between friends to figure out some details, such as should there be judging? Could amateurs tackle real mystery baskets? What did a stocked pantry really need to include for maximum creativity?

 

I launched Fyood with a crowdfunding campaign which is a real rollercoaster of momentum swings. But, we surpassed my financial target, while creating a group of staunch supporters and generating marketing opportunities that proved crucial to our early success.

 

Lesonsky: How does Fyood work?

 

Purcell: Fyood’s competitions, which take about three hours, take place in a professional kitchen. We offer the ideal cooking experience—no rules, no chores, and tons of imagination. Each team gets a basket of mystery ingredients with four “must-use” foods and access to a fully stocked pantry. They have to create dishes (one sweet, one savory) without instructions or recipes.

 

Lesonsky: And how do people react?

 

Purcell: Over 90 percent of cooks make something they'd never attempted before, permanently expanding their culinary comfort zone.

 

But Fyood isn’t just a cooking competition. We’re a connection company that happens to be in a professional kitchen and includes a delicious meal. In our increasingly digital age, people are searching for a social experience that fully immerses them in the present and creates lasting memories. Fyood produces uniquely engaging events designed for collaboration, creativity and laughter.

 

Lesonsky: What were some lessons you learned as you built Fyood?

 

Purcell: I worked with several mentors in SCORE’s Portland office. They taught me to sell and helped me become more comfortable understanding the worth of our services rather than underselling myself or feeling guilty. And they helped me make connections I wouldn’t be able to access on my own.

 

Lesonsky: How is Fyood doing? What are your future plans?

 

Purcell: We’re growing. Fyood recently pivoted from regularly scheduled open events to focus on the demand for private group events, especially teambuilding, birthday and wedding parties.

 

Over the next year we're planning to triple our number of monthly events, hiring three additional team members, including an event manager, along the way. In preparation for this growth, we're currently focused on optimizing our existing systems as well as testing new marketing campaigns to make sure the folks who would have the most fun at Fyood are able to find us when they want to throw a creative cooking party.

 

Lesonsky: What are you most proud of?

 

Purcell: Several things. Our mystery baskets provide an innovative platform for ingredient producers (salsa, kombucha, veggies, sauces, chocolate, etc.) and consumers to meet each other, enabling us to promote our amazing local food ecosystem.

 

I’m proud we can give customers an incredible connection and creative opportunity—empowering and inspiring them and give my team the opportunity to create something awesome and do something that feels great for them.

 

And seeing folks come in unsure of their abilities to cook without a recipe and leave feeling like they’re conquered the experience is pretty magical.

 

Hear more small business owners tell their stories on the Bank of America Small Business Podcast.

 

*Photo from MaineBiz

 

About Rieva Lesonsky

 

Rieva Lesonsky Headshot.png

Rieva Lesonsky is CEO and Co-founder of GrowBiz Media, a custom content and media company focusing on small business and entrepreneurship, and the blog SmallBizDaily.com. A nationally known speaker and authority on entrepreneurship, Rieva has been covering America’s entrepreneurs for more than 30 years. Before co-founding GrowBiz Media, Lesonsky was the long-time Editorial Director of Entrepreneur Magazine. Lesonsky has appeared on hundreds of radio shows and numerous local and national television programs, including the Today Show, Good Morning America, CNN, The Martha Stewart Show and Oprah.

 

Lesonsky regularly writes about small business for numerous websites and for corporations targeting entrepreneurs. Many organizations have recognized Lesonsky for her tireless devotion to helping entrepreneurs. She served on the Small Business Administration’s National Advisory Council for six years, was honored by the SBA as a Small Business Media Advocate and a Woman in Business Advocate, and received the prestigious Lou Campanelli award from SCORE. She is a long-time member of the Business Journalists Hall of Fame.

 

Web: www.growbizmedia.com or Twitter: @Rieva

You can read more articles from Rieva Lesonsky by clicking here

 

Bank of America, N.A. engages with Rieva Lesonsky to provide informational materials for your discussion or review purposes only. Rieva Lesonsky is a registered trademark, used pursuant to license. The third parties within articles are used under license from Rieva Lesonsky. Consult your financial, legal and accounting advisors, as neither Bank of America, its affiliates, nor their employees provide legal, accounting and tax advice.

 

Bank of America, N.A. Member FDIC. ©2018 Bank of America Corporation

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