Meet your local radio, newspaper, TV, and print media partners, all under one-roof and in a matter of just a few hours. Hear what they have to say and then YOU decide on the media that fits your business best. There will be no selling, this will be a strictly informational and educational tradeshow.

Please check out the RMA website for more info at: www.lynchburgRMA.com or call (434) 528-1732.

I admit, I used to cringe when I heard the term social media—this was less than a year ago! However I soon realized that in order for me to help my small business clients best, I had to conquer this thing and “learn social media.”

Here are my Top 10 lessons learned in my foray into social media which I hope will be helpful to other technically intrepid souls like myself:

Lesson 1:  You don’t have to conquer all forms of social media all at once. If you’re a good writer, consider starting a blog. If you’re the laidback relaxed type, begin with a Facebook page for your business. If you’re the visual/creative type, try YouTube videos.

Lesson 2:  Social media keeps your business front and center with customers and potential customers. What better way to send out updates and messages about your business offerings (directly and subliminally) onto your customers’ computer screens… almost on a daily basis?!!

Lesson 3:  It personalizes you and your business. People like to do with business with those they "know". If you don’t want your customers to know all about your personal life, be sure to create a Facebook fan page or Twitter profile especially for your business (separate from your personal profile).

Lesson 4:  Social media is not just for the “young” set. Guess what? Facebook's fastest growing demographic is women aged 55+, while the 35 to 54 demographic is Facebook's largest, representing more than 30 percent of the entire user base.

Lesson 5:  All it really takes is 10-15 minutes a day, or even less. You don’t need a huge chunk of time to dabble in social media. Set aside a few minutes a day, or even a few minutes a week, to help you get started. 

Lesson 6:  Don’t let it dominate your schedule; budget your time wisely. Don’t let Facebook take over your life! (Because it will, if you let it.). Stick to your timeframe.

Lesson 7:  It helps with clarity. Twitter only allows 140 characters. If you can’t tweet something, it probably needs clarity and re-thinking. Clarity helps in holding people’s (and your customers’) attention.

Lesson 8:  Social media is a give-and-take process and it takes time to build trust. Respond to other people’s posts, comments, and share information with and from others. They’ll return the favor down the road.

Lesson 9:  It is not a popularity contest. Social media levels the playing field and everybody is “in” with the cool crowd. Be genuine, and be who you are.

Lesson 10:  Don’t be afraid of failure; set your social media goals and stick with it. Honestly, if I can do it, anyone can do it. No, I don’t own a Blackberry, I don’t even know how to use the camera on my cell phone, let alone Tivo my VCR (ahem, DVD player). However, I am using social media!   

Go on, give social media a try! I hope you found this helpful and would love to hear your comments and feedback…on one of our social media forums, of course.

* This image sourced from CreativeCommons on Flickr.com

Those of us who work with small businesses can't emphasize enough the importance of cashflow management and the role cash plays in a business. This means preparing and analyzing your cashflow statement on a timely, at least monthly, basis.

Cash is the underlying fuel for any business. Often, it is also the surest sign of profitability and general "health" of a business. Kudos to Elise Spontarelli, owner of GetCreative Web Design, who took our 6-Week Self-Employment Class last year and writes about it in her blog. Elise gets the importance of cashflowing, and she provides some interesting insights on how the training helped her business management skills.

Don't take our word for why cash is important or why the class is helpful... read about the class and how it benefitted Elise. In the 6-Week Self Employment Class you will learn how to prepare a cashflow statement for your business, and more importantly, you will know how to interpret it. You will also learn so much more, from budgeting, to marketing, to what it takes to get a loan these days.

Information is power. Our role in providing this class is to empower our local entrepreneurs. Like Elise, we hope you'll take advantage of our resources and information.

* Image Source: This image sourced from Flickr on CreativeCommons.org; image by Jake Wasdin

Marketing your business might be the furthest from your mind. However, study after recent study confirms the economy is finally improving. Do what the big guys do in every economic rebound... Take advantage of your unique positioning now, and plan to GROW YOUR BUSINESS! Simply put, your marketing actions (or inaction) in the next few months could set the pace of your business for the next few years.

We would like to invite you to attend a truly unique 3-part training session on no-cost, low-cost, and guerilla marketing techniques. This has been a proven program with rave reviews in Roanoke, and we want to bring it to Lynchburg. The class is targeted at experienced and well-established business owners, many of whom have already “dabbled” in the topics to be covered, and bring a lot to the table. This will be a high-energy, discussion-rich training with lots of opportunities for peer learning.

The entire 3-part series with top speakers and trainers is only $79. However, we are giving each of you a GUEST PASS for the first session next Thursday, May 4^th. Take the first class and see if it’s of value to you and your business. If it’s not and you don’t wish to return, no need to pay and no need to return to sessions 2 and 3. However, we are confident you will like and learn so much in the first session, that you will come back for more in June and September!   

Please register as soon as possible by calling us at (434) 582-6170. For more information, please see the attached flyer or the training website at: http://synergysessions.org/fitness/

Basically, if a business hires someone who has been out of work for 60 days or more, the business does not have to pay Social Security taxes on the person until 2011. If the person stays employed for one year, the business owner gets a $1,000 business tax credit (not a deduction, but a tax credit!).

The HIRE Act provides up to $6,621 in payroll tax credits and up to $1,000 in tax credits per eligible employee. The two tax benefits are especially helpful to employees who are adding positions to their payrolls. This is the closest to getting money in your pocket, from the government!

The truth of the matter is the legislation is going to affect every business differently. In most cases, the vast majority of small businesses with fewer than 25 employees are exempt from it. And those who aren't, or the small firms who now choose to provide affordable health insurance for their employees, now have tools and options, and tax incentives. Or at least, this is how it should play out.

Check out www.HealthReform.gov. You can even join in the conversation at their Weekly Web Chats and have your questions answered. Tell us what you think.

Also check out the IRS website for more on the Small Business Health Care Tax Credit, which indicates there are tax credits (i.e., money in your pocket!) for small businesses that are paying 50% or more of their employees premiums. Check it out and see if your business will qualify for this incentive.

Here's a link to a great article on the benefits of blogging for small businesses. It's short, concise, and easy to follow. If you're not convinced blogging is for you, read this summary to help you decide.

Small business owners in the Region 2000 areas of Lynchburg, Amherst, Appomattox, Bedford and Campbell, like business owners everywhere, are at the cusp of a revolution in information and the internet. We can either choose to focus simply on local markets (and there's nothing wrong with that for certain businesses), or we can leverage new media such as blogging to get information on our products and services to a wider market geography (or dare I say, even the world).

As someone who's a newbie to this whole blogging "thing", I can tell you that it's been a lot simpler than I ever imagined it would be. And, it has also given me and the Business Development Centre a brand new, no-cost tool with which to share information and resources.   

So go on, check it out and tell us, what do you think about blogging for business?

* This image sourced from Flickr on Creative Commons, by cambodia4kidsorg.  

I just got out of a meeting with a startup business owner who started his business about 10 months ago. He hasn't kept many (if any) records, and is now scrambling to get caught up with his taxes. Every tax season, I seem to get a handful of clients in this situation... those who wait until the last minute to deal with taxes. Staying on top of taxes is actually fairly easy to do with a little bit of planning.

Get organized - Don't wait until March 4 to do your corporate returns (due March 15th) or until April 12th if you're filing as a sole proprietorship (due April 15th). Get organized and stay organized throughtout the year to make life easy for when the tax man cometh. It's not difficult to do if you're even just a little bit diligent about your recordkeeping. At a minimum, have two folders for each month of records--one folder for all incoming receipts (revenues) and one folder for all outgoing receipts (expenses). This forms the basis of your recordkeeping and it will help you take advantage of every deduction and write-off you can claim. All business owners should be preparing and analyzing their cashflow statements on a monthly basis. It will also make tax time inifinitely easier and less of a shock!

Know thyself - There's nothing wrong with hiring a bookkeeper or certified public accountant to 1) help you with the bookkeeping and 2) help you fill out the tax forms. In fact, we encourage you to hire a professional. A bookkeeper is a lot less expensive and will help you with monthly and quarterly filings, while a CPA (certified public accountant), although more expensive, will give you sound, strategic tax advice. You might want to hire one or both. All new and expanding businesses should meet with their CPA at least once a year, to ensure they are minimizing their tax burden as much as lawfully possible. Most small business owners are already so overwhelmed with the daily operations of their business, that even the most organized ones sometimes fall behind on recordkeeping. It's one area where it makes sense to outsource to a professional.

Pay on time - Pay your taxes when due; set up electronic filing accounts to help you stay organized and not fall behind. Pay your taxes on a quarterly basis if that will help manage cashflow. And if you're really behind on preparing for your taxes, like my client above, do contact the IRS and file for an extension immediately. The worst thing you can do for your business is to not let the IRS know in advance and be in non-payment of taxes.

Get help - There are lots of free resources out there for tax assistance. You can call us at the Small Business Development Center throughout the year with questions. While we don't file tax returns for our clients, the IRS does offer significant resources, and yes, you might even be able to speak to someone there. You might also want to check out the following resource: http://www.business.gov/finance/taxes/

What are some of your strategies for staying on top of taxes?

*This image is sourced from Flickr on Creative Commons, by alancleaver_2000.

The U.S. Small Business Administration will host a series of Youthrepreneur Webinars in recognition of National Entrepreneurship Week and America Saves Week. The topics will emphasize youth entrepreneurship and engage the next generation of small business owners in skills building and financial empowerment. They will be able to learn the basics of entrepreneurship, strategies for today's business world, and using social networking to advance business ideas.

Webinars to take place February 23-25, 2010, from 11:00 AM to 3:00 PM (EST).

Be inspired and learn from some of the best in business and entrepreneurship. Click here for more on webinar presenters and topics and to obtain webinar dial-in details.

(**The above image is a CreativeCommons photo on flickr by theritters, image #511298198_773b196368_m)

In celebrating National Entrepreneurship Week, remember that entrepreneurship is really a mindset, and a way of thinking. It's not just about owning your own business. An "entrepreneurial mind" pays off anywhere in any venture, even if you're working for someone else. Creativity, innovation, and working hard towards your goals and dreams are all entrepreneurial qualities that should be nurtured in every generation.

Take this opportunity to speak to a child in your life about what it means to be an "entrepreneur", and about their dreams and aspirations. We'd love to hear from you, send us your comments afterwards. 

Now, I'm off to have this conversation with my 2-year old. It's never too early to start!  

In a down economy, thinking about starting a business might be the furthest from your mind. However, some of today's best and well-known companies were started during deep recessions (think Microsoft, Hewlett-Packard, Revlon, etc).

What many don't realize is that starting a business during a recession actually offers many opportunities--such as lower costs than during boom times and a better market in which to hire talented workers. Of course, as with starting a business at any time, you have to consider the pros and cons and do a proper market analysis. But during a recession this analysis (called business planning) is even more critical and acute. Starting a business should never be a pure roll of the dice but it is a calculated risk.

Arm yourself with information, whether you want to start the next multi-million dollar franchise or a small, home-based business to help supplement your income. Set yourself up for business success by taking a short, 2-hour Start Smart seminar to get an overview of what you need to know before you start your business. 

Learn about business resources and financing available for business startups in the Region 2000 areas of Lynchburg, Bedford, Campbell, Amherst and Appomattox. Check out our Start Smart seminar or call us at (434) 582-6170 for more information. Do you have what it takes to start a business?

If you're a small business owner, you probably set all kinds of well-intentioned New Year's resolutions. Whether it's developing a social media strategy, marketing plan, having X amount of dollars in sales, or preparing and actually reading your monthly financial statements on time (yeah, that!), you probably set all kinds of goals for yourself for 2010. Now, at the end of January, is a great time to revisit your resolutions and goals, see how you're doing, and even reassess or tweak them if you need to.

Sound daunting?  Follow these steps.

• First and foremost, write down your goals and resolutions on paper to give yourself more accountability (and er, ahem, shall we say, a conscience). 

• Be SMART about your goals and resolutions:

Specific - Be specific about what you want to accomplish. For eg., rather than a goal of "I really want to market the business better" a more specific resolution or goal might be "I want to use social media as a way to better market the business".

Measurable - Make sure your goal or resolution is measurable by assigning quantitative numbers. For eg., "I want to grow my number of LinkedIn contacts by 30 per month".

Attainable - While lofty goals are great, they may not be attainable and therefore be a morale buster. Make sure your goal or resolution is something that you can realistically and reasonably attain.

Relevant - Your goal or resolution should be something that's relevant to helping you achieve results and success.

Timely - Give yourself a time horizon by which to attain your goal or resolution. For example, "I want at least two LinkedIn contacts to have generated into sales contracts by the end of March". This way, the end of March rolls around, and you can clearly see it if you've hit your target or not.

• It definitely helps to breakdown your goals and resolutions into smaller, more manageable tasks and chunks of time--again using the SMART technique if you have to. That way, achieving results will not seem as daunting. Remember, a journey of a thousand steps, starts with just one step.

Do your remember your New Years resolutions for 2010? Tell us what they are if you care to share. How are you doing in terms of follow through and what have some of your strategies been?