University of La Verne SBDC Small Biz Blog

  Gael Sylvia Pullen, the founder of Girls Fly! and Ghail Media Group, that provide educational financial literacy programs for school districts. Her journey from owning the largest minority and female commercial brokerage firm to managing McDonald's restaurants eventually led her to create Girls Fly as a non-profit organization and Ghail Media Group, driven by her passion for financial literacy and empowering individuals with essential money knowledge. Challenges Gael encountered significant challenges when venturing outside the McDonald's system, stating, "I was at a loss for where to go or what to do because my prior banking relationships were all very easily tied within the McDonald's system." She also highlighted a broader issue, saying, "I'm not gonna limit it to just the African American or Latino population, but I think that there is a significant reason why our business progress may not be at the rate it could be because of lack of knowledge and

California, a trailblazer in various social and economic matters, is once again at the forefront of change, this time in the realm of work and regulations. From expanded worker protections to increased business transparency, a wave of new legislation is impacting industries and employees alike. This blog post delves into 5 of recent changes in California law and federals laws that impact small business owners from now into the future.  New rules for contractors to have workers' compensation insurance (SB 216) California is overhauling its approach to worker safety in the construction industry. Effective July 1, 2023, most contractors, including concrete crews, HVAC technicians, asbestos abatement specialists, and tree service professionals, will be required to provide workers' compensation insurance, even if they have no employees. This requirement aims to protect workers from financial hardship if injured on the job, while also ensuring a level playing field for responsible c

Are you a small business owner eager to delve into government contracting but feeling lost in the vast sea of opportunities? Fear not we are here to guide you step by step, absolutely free! In this blog post, we'll explore invaluable resources and strategies to help your small business thrive in the government contracting realm. SAM.gov: Your Gateway to Federal Contracts Navigating the Interface Our first stop in this journey is SAM.gov . A treasure trove of opportunities awaits, and you can either initiate a search or explore contracting opportunities directly. The interface allows you to input keywords, and the results can be further refined using the convenient filters on the left. Advanced Search Techniques Building on spending research principles, you can refine your search by agency, due date, notice type, and more. Dive into the specifics using NAICS codes under product or service information and set-asides for certified opportunities. Tailor your search to your business

  Many business owners may have an idea for a small business or multiple competing ideas and are not sure if they want to pursue it. Do you wish you knew what business idea to pursue before you put a lot of time and money into something that may not work? In this guide, I will take you through a simple 3 step process to evaluate your business idea so you can move forward with confidence. Check out the checklist from score and follow along. Let’s get started. Business Concept Our first step is to develop our concept. You want to make sure that your business idea is a skill you have as a service or is valuable as a product, otherwise, people don't want it if you can't deliver on the promise or provide a lousy product. The other thing you need to think about is imitation. Is this a trending product or service? Is everyone doing it? You want to offer a product or service that is valuable but not easily replicated because that just spells more competition for you and your business

Branding is one of the most esoteric and confusing terms, even for those who have actually studied marketing. The American Marketing Association defines a brand as the “name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers.” While that seems simple enough, a brand is about connecting your business to consumers not only on a physical level (by identifying a product) but on an emotional level as well. In this article, I’ll take you through a simple 4 step process to creating a brand as a small business. Step 1. Brand Positioning  Brand positioning is a process of understanding the target market and defining the space that your brand occupies in the minds of customers. It is also about understanding who you are as a company and what you want to be known for. The first step in developing a strong brand position is research. This includes customer research and competitive research, where companies learn about t

Financial projections can often seem daunting when embarking on a business venture. In fact, they can be so intimidating that many individuals prefer to delay addressing them until the need arises. In our upcoming webinar, we will explore the following key topics: 1. Assessing the viability of your business concept. 2. Calculating the break-even point for sales volume. 3. Creating the financial projections necessary for securing an SBA loan. Getting Started Download the Google sheet and follow along  here.   You can view only. [ File > Download > Make a Copy ] so that you can create your own spreadsheet for you to keep and update. or  Download the Excel template  here .  Startup Phase Financial projections are invaluable in answering various crucial startup questions, such as: Will my business idea prove successful and feasible? What is an appropriate compensation for myself? What sales volume is required to attain profitability? How much capital is needed to launch the busines

If you are working professional looking to set out on your own, getting the business started is not in your wheelhouse. You probably are great consulting clients but aren't comfortable with all the detail of setting up your company with any licensing and operations. In this article, I'll show you a way of setting up your business seamlessly from planning to marketing for business growth.  Business Planning As a new consultant, your focus will be on determining how to deliver your services effectively. The industry and space you choose to operate in will dictate how you assist your customers with their businesses or personal lives. Additionally, you should aim to establish a system, which we'll discuss later, to package and market your services. Identifying your target customers primarily depends on the industry you serve, but there are a few key considerations. Firstly, you should create a client profile that outlines your customers' ultimate goals, identifies the chall

If you're a small business owner wondering if the world of government contracting is a viable opportunity for your product or service, you're in the right place. In this article, we will walk you through the essential steps to determine whether government contracting aligns with your business goals.  The Small Business Administration (SBA) has been actively encouraging small businesses to engage with both federal and local governments in the realm of government contracting. However, it's vital to recognize that government contracting isn't for everyone. Several factors come into play, such as government spending in your business industry and your business's readiness. In this article, we'll provide you with a concise guide on conducting research to determine if government contracting is a suitable path for your business and industry. Let's get started. Step 1: Familiarize Yourself with Your NAICS Code Before embarking on any research, you must identify your

In the world of sales, missed opportunities can be a frustrating experience. That feeling of watching a potential victory slip away due to hesitation, miscommunication, or simply not knowing the right approach is a sinking sensation that no one enjoys. But fear not, for in this article, we're about to unravel the secrets of sealing the deal and share proven strategies to ensure that you close your next sale with finesse. Recognizing Buying Signals In the dance of customer interactions, there are subtle cues that emerge like hidden gems, revealing a customer's readiness to make a purchase. These cues , both verbal and non-verbal, are akin to a treasure map leading the way to a successful close.  They range from expressed enthusiasm and positive body language to probing questions about features and pricing. When your customer asks you to repeat a benefit your solution addresses, take note – this is a strong signal that they're validating their interest. Asking for the Sale

  Imagine you have a business, but no one knows about it. With a website, you can reach a global audience and promote your business 24/7. You can showcase your products or services, collect leads, and even sell online. But building a website can be daunting, especially if you don't have any technical skills. In this webinar, you'll learn everything you need to know to create a beautiful and functional website, even if you're a complete beginner. We'll cover everything from choosing a domain name and web hosting provider to creating your website content and designing your pages. DIY or Hire it out to a Designer Should small business owners create their own websites or outsource to a web designer? That depends on a few factors, such as your budget, time constraints, and technical skills. If you're on a tight budget and have the time, you can certainly create your own website using simple web design tools. However, it's important to keep in mind that creating a web