- The Name Game: How to pick a business name that will be successful for years to come
- The Yahoo Smart and Simple Guide to Starting a Business: Part 4 - Naming your business
- The Yahoo Smart and Simple Guide
- Owen Linderholm | Profit Minded – Fri, May 10, 2013 6:22 PM EDTThis weekend it is Mother's Day - something that EVERYONE has in common. We have a nice article about the founder of the day/event itself (see below) but it is also worth taking some time to think about your Mother. For a small business, the founder is like its mother. You conceived the business and nurtured it. But since the only way your business is going to thank you is by repaying your hard work, how about taking the time to think about it as your child. What needs nurturing - and what needs a bit of tough love? And for those of you who are business-mothers-to-be, we are continuing to build out our series on starting a business - the links to the three articles that make up part four (all about naming your business) are below and you can find the links to parts 1 through 3 in them.
AnnaMarieJarvisMother’s Day was founded in 1907 by a West Virginia woman as a tribute to her own mother. In her 40s, Anna Marie Jarvis, a college graduate, quit her job and incorporated herself as the Mother’s Day International Association.
Jarvis was so passionate about her vision that she succeeded within 6 years in persuading the governors of nearly every state in the union to embrace Mother’s Day. By 1914, she had won over the U.S. Congress. That year President Woodrow Wilson signed a Congressional resolution declaring the second Sunday in May the nation’s day to honor mothers (for their role in the family, however, not the public sphere).
Rampant commercialization of Mother’s Day has kept it alive for a century, but the strong-willed Jarvis, ironically, detested any profiting from the holiday. She believed offspring should honor mothers with handmade gifts and letters, rather than with printed greeting cards and floral arrangements. So, after succeeding in seeing Mother’s Day widely adopted,Read More »from Who founded Mother’s Day?
- Adrienne Burke | Profit Minded – Fri, May 10, 2013 1:03 PM EDT
Partnership for Employment, an initiative of the nonpartisan group Women Impacting Public Policy, the Department of Homeland Security, and the Department of Labor’s Office of Workers’ Compensation Programs, is designed to incentivize small businesses to hire government workers who are unable to return to their jobs due to an injury.
WIPP board member Lisa Firestone, who has coordinated the pilot phase of the Partnership for Employment, calls it a “win-win-win” for government, small business, and injured workers.
As the President and owner of Managed Care Advisors, Firestone’s specialty is assisting with the recovery and return to work of injured federal employees. As a government contractor, she also knows well the challenges of small businesses. Winning a contract can mean you need to staff up quickly. “Small businesses don’t have their ownRead More »from Program pays small businesses to hire injured federal workers
- Adrienne Burke | Profit Minded – Thu, May 9, 2013 5:42 PM EDT
Clay Mathile says he feels deep gratitude for two groups of people: those who risk their own capital to create jobs, and the mentors who helped him do the same as owner and CEO of the IAMS Company.
So, since selling that dog and cat nutrition business to Procter & Gamble for $2.3 billion in 1999, Mathile has gone to great lengths to show his appreciation by helping other business owners be successful. He invested more than $150 million to transform the former “Iams University” employee-training program into Aileron, a nonprofit organization with a mission to ”unleash the potential of private businesses through professional management.” Today, more than 10,000 people a year visit the 70,000-square foot Aileron facility on a 114-acre campus in Tipp City, Ohio, for a variety of management training courses delivered by consultants who have all run their own businesses.
Business owners who have taken the two-day President’s Course say the experience has been transformative. “Life changingRead More »from How a billionaire is changing small business owners’ lives
- Owen Linderholm | Profit Minded – Fri, May 3, 2013 4:43 PM EDT
Small businesses are anxiously following the progress of the 'Marketplace Fairness Act' through the legislative process - it's due to be voted on by the Senate on May 6th and then will go to the House. Basically the bill is going to make all online purchases subject to sales tax no matter what. Essentially if you live in a state with sales tax your purchase will be subject to the sales tax where you live. Currently you only pay sales tax on online purchases if the business in question has a brick-and-mortar location in your state. The new law is a simplification of the current situation but is staunchly opposed by online retailers - and just as staunchly supported by states in dire need of revenue who are annoyed at sites like Amazon and Ebay. It is worth noting that the bill is supported by President Obama but is expected to have a tough time in the House. It is also worth noting that a lot of large brick-and-mortar retailers without large online presences also support the new act.Read More »from Marketplace Fairness? Starting a Business? Small Business Reading for May 3, 2013
- Adrienne Burke | Profit Minded – Thu, May 2, 2013 3:24 PM EDT
It’s been several decades since big companies started proving that earning profits and being socially responsible are not mutually exclusive. Ben & Jerry’s, Patagonia, and Whole Foods come to mind. And IBM, HP, and Sprint topped the Daily Beast’s 2012 list of American green companies.
But is it affordable for even the smallest businesses to earn a living while being socially and environmentally conscious? Susan Chambers says yes. Her new book, Small Business, Big Change: A Microentrepeneur's Guide to Social Responsibility, offers steps that owners of business with fewer than 10 employees can take to align their life's work with their spiritual and social values.
Chambers, a writer and editor who is passionate about helping businesses to become agents of social change, provides case studies of numerous microbusinesses that adopted sustainable values. In their choices of vendors, clients, product materials, packaging, employee policies, community service, and more, each company is makingRead More »from How to turn social values into a valuable business
- Adrienne Burke | Profit Minded – Wed, May 1, 2013 9:27 AM EDTSmall business owners with retirement plans are saving more for retirement than average American workers, a Fidelity analysis indicates
So many Americans are unprepared for the costs of retirement that some predict a looming crisis. But small business owners and their employees who put money into retirement accounts might be in better shape than most.
In an analysis of the balances of 200,000 small business accounts that utilized its SEP-IRA, Self-Employed 401(k), or SIMPLE-IRA plans, Fidelity Investments found that the plans saw an average balance increase of 20 percent between January 2007 and December 2012. Since a 2008 low point, balances have jumped an average of 64 percent, the brokerage reports.
The Employee Benefit Research Institute reported last month that less than half of American workers “appear to be taking the basic steps needed to prepare for retirement.” While only 13 percent of American workers are “very confident” they will have enough savings to live comfortably after stopping work, only 66 percent report that they or their spouses have saved for retirement at all, according to EBRI’s 2013Read More »from Small business owners who save better prepared for retirement than most
- Adrienne Burke | Profit Minded – Tue, Apr 30, 2013 4:58 PM EDT
This time last year, the business press was abuzz with equity-based crowdfunding fanfare. Yahoo! Small Business was no exception. According to the JOBS Act, the SEC was to have established rules by January of this year to make it possible for small businesses and startups to use social media and friends-and-family networks to raise investment or debt-based capital through "crowdfunding."
Equity based-crowdfunding platforms sprouted up, and members of the sector aligned within new industry-standards organizations, ready to serve cash-strapped small businesses as soon as Washington gave the go-ahead. But the rules have yet to come.
Elizabeth Smith Kulik, founder and CEO of the crowdfunding platform ProHatch, says she’s not surprised. “A lot of the delay is just the regulatory process, review periods, and comment periods.” Sure, Congress gave the SEC 270 days for rulemaking. “But that was if everything was running on all cylinders. We’ve had an election year and a new SEC chair appointedRead More »from What to do while waiting for equity crowdfunding to come
- Chris Myers | Profit Minded – Mon, Apr 29, 2013 6:39 PM EDT
As an avid football fan, I am constantly befuddled by how losing coaches actually get hired by other teams. And, I am not talking about the exceptional coach that just had a few bad seasons. I am talking about the habitual losers. You know the ones - that guy you pray gets hired by your arch-nemesis. Take, for example, Dick Jauron. During his head coaching tenure with the Bears, he put up an “impressive” 35 wins against 45 losses (.438 win percentage). He had one winning season during the entire 5 years he was with the Bears. A year later, he gets hired as the Buffalo Bills head coach. What did Buffalo get for this omnipotent choice? An “outstanding” 24-33 record (.421 win percentage) for the next four years and not one winning season. To be fair, the four years prior, the team went 28-36 (.438 win percentage). Buffalo may just be a glutton for punishment.
What does this have to do with entrepreneurship? It is the surprising willingness (or, even requirement) by VCs to generally onlyRead More »from Shaking the Bode Tree: VCs and Entrepreneurs “failing-on”
If you search for time management books on Amazon, you’ll find 106,960 results demonstrating the universal need for help managing this limited resource. Teaching people how to manage their time is an industry in itself, but every one of us can benefit from the valuable skills they provide.
We all struggle with managing our time and controlling those things that steal our time. Things like unproductive emails, Internet search rabbit trails or conversations that go off on time-wasting tangents are all examples of things we do that rob us of one of the most valuable resources we have – our time.
Personal time management dictates how well we can juggle our work responsibilities with our home and social obligations. However, time management skills for entrepreneurs and business leaders alike are critical to organizational success. The most successful organizations have figured out the importance of helping people spend time on those things that align with strategic objectives.Read More »from Six Tips for Office Time Management
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Profit Minded is the Yahoo! Small Business Advisor blog that looks at ideas, trends, commerce, and noteworthy developments that can help small business owners develop and grow their organizations.