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Research Network Blog of NYS SBDC

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The Research Network aims the content of this blog primarily at the New York Small Business Development Center (NY SBDC) community on the kinds of things we encounter every day. Views expressed are those of the Research Network staff, and not necessarily those of the New York SBDC or its partners. Comments to an individual post are encouraged. Such comments will be monitored, so please, keep them clean and professional.
Updated: 34 min 5 sec ago

100-Day Progress Report by Maria Contreras-Sweet, SBA Administrator

July 28, 2014 - 1:48pm
The SBA Administrator recently announced a transformative new plan to automate SBA lending and streamline and simplify the agency’s underwriting process to attract more lending partners and open up new markets for small business owners who need capital to expand and grow. Days after this announcement, which will ease the burdens on lenders approving small-dollar loans to entrepreneurs, she appeared at a Clinton Global Initiative conference in Denver to help announce an exciting commitment called the Century Club. Eight Community Development Financial Institutions (CDFIs) each pledged to make at least 100 small business loans a year for the next 10 years, which will inject $1 billion of additional capital into America’s small business ecosystem.

More HERE.
Categories: News from others

Poor grammar on websites scares 59% away

July 26, 2014 - 9:21am
From Real Business:

A new study has revealed that 59 per cent of Britons would not use a company that had obvious grammatical or spelling mistakes on its website or marketing material, and 82 per cent would not use a company that had not correctly translated its material into English.

The research, conducted by Global Lingo, polled 1,029 UK adults on their online purchasing and browsing habits.
Wonder how Americans would react?
Categories: News from others

3 Essential Things to Know Before You Start Your Business

July 25, 2014 - 10:03am
If you’re about to start a business, you’ve probably read several how-to books looking for advice on how to be successful. While researching is a great first step, there are some lessons that you won’t find in a book.

You need to hear from business owners who have been in your position, who started a business with a great idea, a lot of enthusiasm, and a shoestring budget. To give you a few business tips, we asked several entrepreneurs, including Kelly Costello, who was featured on ABC’s “Shark Tank,” to tell us what they wish they’d known before they started their businesses.

Read more in>
Categories: News from others

You’re Spending Too Much Money on Professional Development

July 24, 2014 - 9:25am
Carmen Sognonvi writes:

I know too many business owners who are going broke paying for expensive mastermind programs, business coaches, and info products.

They think they're "investing" in themselves.

They want their businesses to succeed, and they keep searching for the magic pill that will help make it happen.

Unfortunately in the process, they're being financially irresponsible and spending far more than they can afford.

I know, because I used to be one of them.

Watch my latest video, because in it I come clean about the mistakes I've personally made when it comes to professional development.
Categories: News from others

How to determine your TAM (Total Addressable Market)

July 23, 2014 - 9:58am

Whether you’re a startup or an up-and-running business, you should know what your total potential market opportunity is for your products or services.

Caroline Cummings has coached many companies over the years, as well as judged several business plan competitions, and she's always surprised by how most business owners can’t confidently tell you their total market potential. They tell her things like, “My market is everyone who eats dessert,” or, “Everyone in my community who drives a car,” or, “Anyone in the world who uses social networks.”

You may think these are your markets, but you need to drill-down and get more realistic and specific about the true size of your market, or lenders and investors will question your credibility.

Categories: News from others

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