Photo (CC) by Ron Mader, on Flickr

Small Business Saturday has come and gone.

What worked? What did you do? And what do you wish you would have done?

Now is the time to answer those questions. Yes, I know that for many of you it is also the holiday shopping season and you have just run the gauntlet of getting the decorations up, putting out the first sale flyers out and participating in Black Friday and Cyber Monday. And staring you in the face are the remaining 19 days until Christmas.

But it’s crucial to examined what worked and to keep doing it throughout the season (Actually, you want to keep doing it until Small Business Saturday 2018 when you can up your game even more).

2017 Small Business Saturday was bigger and better than ever. You can find lots of articles addressing the results. The National Retail Federation reported that 55 million shoppers visited small businesses that Saturday.

That was a look at the national scene. My colleagues, Tait and Kate, addressed why your success is so important at a more local level, your community, in “Small Towns and ‘Shop Local’ Do Matter.”

And we can take it down even further to your own store. A successful Small Business Saturday promotion meant money in the till. Just as important, though, it meant more awareness of your store, more foot traffic, and more coffee-time conversation about what you have going on.

Those last items are crucial for long-term sustainability and success.

Small Business Saturday

So ask yourself and your customers, what worked? Then do more of it.

It is much more effective if you continue something that worked then to let it sit for several months, or until next year, and try to resume the activity. Customers will remember know what you did and respond if you continue it.

So reboot your Small Business Saturday successes. Make them a regular part of your effort.

Photo (CC) by Dana, on Flickr

Did you know that:

• You will find a family business in one out of every 10 households.
• Family businesses contributed over $10 trillion, by one estimate, into our U.S. economy.
• Family businesses generate over 50% of U. S. business revenue.
• Family businesses employ over 50% of the U.S. workforce.

Do you get a sense of my topic this week? Yes, it’s the role and contributions of family businesses to the economy.

Family businesses are found in all segments of the economy, from large (Walmart) to micro in size (one person working in a corner desk after they have worked in another job all day and handled their family responsibilities). And you will find them in every segment of the economy, but dominating in farming and retail.

The family business is a unique entity as it combines the traditional business system along with the family system. And all of this while being a part of the larger community system.

With these connections, family businesses can, and do, have the ability to use the resources and time of family members in helping to get work done. This enables them to get more done when the pressure is one.

They also have been found to be more successful when the community is supportive of the business.

Strong family businesses and strong communities occur when the intermingling and exchange of resources is a two-way street. Family business provide community resources. It may begin with a paycheck to community members but it often reaches far beyond.

The most common community support provided by family businesses includes direct and indirect financial support to events, charities and even the paying of taxes. In communities that are struggling, the amount of this support often grows.

Next, there is the involvement in community leadership,  roles that various family members take on.

Technical assistance is another form of support offered by family businesses to communities.

I have had the good fortune to work on the Family Business Research group for some time.  Given the prevalence and importance of family businesses in rural communities, we wanted to dig deeper into who these businesses were and how they worked internally as well as interacted with the community.

Recently the group has released a 20-year highlight newsletter. You can find it at: https://www.ag.ndsu.edu/smallbusiness/documents/family-owned-business-research-highlights-2016. You can also find a list of the over 400 publications produced by the group as well as a link to the group’s annual and project reports.

According to Heck and Stafford (1999), two members of the research group, the importance of family businesses to our economy and society is only exceeded by the family unit itself. They are a vital economic engine. Their support will help everyone grow.

If you operate a family business, thanks and good luck.  If you know a family business owner, stop in, say hello and check out their offerings.

Photo (CC) by Stefan, on Flickr

If you have been reading my Wednesday contributions to Small Business Survival, you know to expect some tip for your business operation or some new idea seen elsewhere.

This week you will find something different. I need your thoughts. I have an opinion but am I realistic?

Here is the situation. Over the weekend, I stopped into a local café. It’s the type of place where you place your order before you grab a table.

As I was placing my order, I noted that they took “Android Pay” (not an endorsement – it’s just a popular payment option, one of several).  I had the app loaded on my smartphone but had never used it. Also it was quiet in the restaurant so I had the time to fumble around.

So my wife and I place our order. I then indicated I wanted to try the app. I brought it up on my phone assuming that something more would appear on the app that I would press and then be on my way.

Wrong!!. Nothing happened. I tried a couple more things but couldn’t find a menu or list of instructions. Of course, now I am feeling somewhat embarrassed. So I asked the clerk for help.

She responded, “I don’t know what to do.”

After fumbling around for a couple of minutes, I just dug out my plastic and paid.

So my question. Is it fair to expect people in a food business (or any other business) to be able to answer your tech questions? She had been helpful on our food questions that morning.

POST YOUR RESPONSE IN THE COMMENT BOX!! Perhaps you might respond differently as a small-business owner and as a customer. If so, indicate that. (This question is a great way to learn from each other. After you respond, share the question with your friends.)

So, what are my thoughts??

I am flip-flopping between she should be able to help or that’s beyond her job description as my smartphone is not part of their business. In terms of the latter, she deals with food. Tech may not be her thing. How far does customer service go? It’s a new world with new tech coming out all the time. Or (now my bias comes out), maybe a millennial could help but can I expect a boomer (of which I am one) to do so? But doing this represent a whole new category of employee training (and it would be constant training as fast as technology changes).

Yet on the flip side, not being able to help might cost them business. Plus what do customers think when you can’t help. How does it affect not only sales but your brand?

Is there a middle ground?  Just saying we can’t help you, doesn’t help your business. Would having the instructions on your website be an answer?

HELP!!!

For me, it’s a challenge. I am going back as I know have checked out the instructions. Here is a YouTube video showing someone using the app as well as instructions from Google.

https://www.youtube.com/watch?v=TyEWsB128Dc

How to pay – https://support.google.com/androidpay/answer/6224824?hl=en 

You don’t have to open the Android Pay app to make a purchase with your NFC phone. Just follow these steps:

1. Wake up and unlock your phone.
2. Hold the back of your phone against the contactless payment terminal.
3. If prompted, choose “Credit” regardless of your type of card.
4. For debit card transactions, you may have to enter a PIN. Use the PIN you set up with your bank.

Photo (CC) by BruceBer, on Flickr

A common question I get asked is, “What small business should I start?”

My typical answer is: “Think about starting a business around something that sparks your passion.”

I have a valid reason for giving that answer. The small business you start will take an incredible amount of time. Plus, as you build the business, you will have countless times when you may just want to quit. Those are the times when your passion, or perseverance, will get you through.

Yet passion, while necessary, is not an entirely sufficient variable on which to build a long-term, sustainable small business. Doing that requires that your business makes money.

And the money you make must do more than just pay for supplies. It must cover labor costs, pay for the rent and utilities, and cover taxes, marketing, distribution and the management costs of running the business.

A long-term, sustainable business also will pay the owner for the risk he or she has undertaken, as well as providing a return on the investment.

Finding that profitable business takes time and effort. Ask yourself:

• * Does my product or service have a market? And will that market keep coming back? If so, how often?
• * Will the market pay a price that gives me the profit level I need/desire?
• * Who are my competitors? Do I have a sustainable advantage over them?

Some people can’t offer positive answers for these questions. Yet they still go into business. The reality is the business is more like a hobby. That’s OK as long as you understand what you are giving up and that you will be subsidizing the business in some way through time.

So, what business should you start? It should be one for which you have passion AND makes you a profit.

Photo (CC 2.0) by Jeff Turner, on Flickr

What stands in your way of moving forward?

Whether you are someone who would like to get into business or already are in business and would like to move forward, we often find some reason why we just can’t make it happen.

Here are some common issues that may be a roadblock for you along with ideas on how to get past them.

One reason is inertia, the physics rule that an object at rest tends to stay at rest. This may be the major stumbling block for many of us. We want to take action but it sounds so hard, the task looks so big.

This issue has no single solution. The most common and most successful is to break the job into small tasks. These smaller tasks are ones that don’t take as long and you can see yourself being able to get them done.

Even though you have broken the job into smaller tasks, the whole thing still may take just too long. The rule of thumb is that it will take twice as long as planned, so you need to remember that when starting out. Again, look at the length of the smaller tasks and not the overall project. Finally, if the time horizon is not acceptable, maybe you need to find a new project.

A related issue is getting started but then running into a wall, something that seems impossible to get around or go under or over. The first recommendation is: Don’t despair. Start by talking with others to see if they had the problem and what they did. Get a few people together and brainstorm ideas. You may have to back up some to move forward, but if your goal is highly desired, that’s OK. Just remember these are steps on the path.

Of course, money often enters into the mix; the task costs too much. As an owner, you need to be prepared to invest not only time but often dollars into the business. Just as projects often take twice as long as planned, you probably can expect they will cost twice as much as expected.

Yet good bootstrapping techniques can limit that investment. Can you rent the item? How about a shared purchase? Are surplus items for sale? Might you barter for services? You also have the possibility of a loan or taking on a partner.

Finally, you may just run out of energy. Know that it happens. These big projects take lots of stamina. Learn to pace yourself. Also understand where you draw your energy from. Plan for short breaks. Also plan for success parties as milestones are completed. These will help you re-energize.

Moving forward on any idea takes time and energy. As you commit yourself, make sure you focus on your highest priorities. Use these tips to reach your goal.