In my early days of networking, I dreaded the thought of going to a networking event.  Often I would go to an event, stand in the corner for an hour or two and then go home defeated.  I was never going to be the kind of person to naturally work a room.

I needed a plan.  I figured out the business organization I wanted to become involved in and joined the Board.  This did two things for me – at the very least when I walked into their networking events I would know my fellow board members – it was no longer a room of strangers.  Secondly, it created visibility and people approached me rather than me having to make the first move.

As a board member, I wanted to make life easier for the non-networkers like myself.  It became policy that board members would seek out the corner dwellers, break the ice and whenever possible introduce the newcomer to other members.

That approached worked for me, it may not be feasible for you.  Another idea is to agree to attend with a friend or colleague.  That way you don’t have to walk in alone.  Ultimately, it is about breaking the

Recently, I was meeting with a client (who I met through networking) and she was expressing frustration that her staff didn’t embrace networking more.  I asked if she had taken the staff to networking events that she attended.  Of course.  I asked if at those events if she was the prime communicator and if the staff person faded into the background.  AH…

While the staff had gone to the events, they weren’t really networking.  They weren’t initiating conversations. They weren’t pitching the company.  They were simply supporting players at best.  I suggested she once again join them in networking events but let the subordinate lead.  Let the staff person “network” and she could be their support.

Networking is daunting for many.  Especially, if you are not the sell ice to an Eskimo type.  But like anything else, it is a skill that can develop with a little practice.  And if you see someone alone in the corner, break the ice – you’ll be doing them a favor.

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San Francisco Bids and Contracts

Our special guest speaker Lloyd Kraal of Kraal Consulting, a participating partner with the City & County of San Francisco incubator program, helps new contractors grow into an established business. In addition Lloyd serves on the LBE committee for the Human Rights Commission and is well-known for his success throughout San Francisco. In this seminar Lloyd is looking to share his many years of experience and talents with you to help you sharpen the tools in your tool belt.

 Lloyd will be teaching the principles and importance of proper estimating. He will show and give tips and tricks for great estimating as well as offer one on one guidance for any specific questions you may have.

Save Your Seat Today!!!!

When: Thursday, February 2nd, 2012

Where:Merriwether & Williams Insurance Services, Inc. 550 Montgomery Street, Suite 550 San Francisco, CA 94111

Time: 10:00am to 12:00pm

RSVP: Call: (415) 217- 6570 Email: Bond@imwis.com

Our Surety Bond & Finance team will be available to help with questions about;

• General Surety Bonding

• Preparing your company to meet surety underwriting criteria

• City & County of San Francisco Surety Bond & Finance Program Services

• Referrals for professional services support, i.e. Brokers, Accountants and Surety

The opportunity to attend this seminar is FREE, seating is very LIMITED. RSVP today and secure your seat!! Call 415-217-6570 or respond to Bond@imwis.com

Sincerely,

City & County of San Francisco Surety Bond & Finance Program team:

Jennifer Elmore, Tiana Shaw and Monica Bell

But I like Bobbi and there was food involved, so I agreed.  Unbeknownst to me, this group had just launched and only had a hand full of members.   And my hesitation seemed justified.  A large part of the group was about recruiting –Will you join?  Who do you know? Who can you refer? Ugh.

So, I had to think why I would join this group.  OK, so I like Bobbi but not enough in itself to justify joining.  (Sorry sweetie, love you!)

My reasons –

• Something Different – I have been in business 8 years, my clients come from the same places and I only tend to market when I am done with the current projects.  Typical small business dilemma – we are too busy to network until we are not too busy, then we are scrounging around for the next project.  BNI would ensure at the very least there would be an ongoing networking effort.
• Get Out of the House – Many small business owners work from home and don’t get to interact with any co-workers.  It gets a little stir crazy.  As Coach Sharna Fey  noted – “This allows me to get dressed and talk to adults.”
• Business Karma – BNI calls it the “Giver’s Gain” concept but I like to think of it as Business Karma.  You are helping a group of like-minded business owners grow their business.
• Power Groups – As business owners, we naturally have a referral base within our industries.   Our clients come to us for Web Development and eCommerce solutions.  These same clients need copy, PR, photography, graphic design.  I can go to my Power Team and know I am referring my clients to quality service providers.

I joined and it has been a great experience.  I have gotten new business, developed strategic relationships with other service providers and eaten lots of food!

To learn more about BNI 3.0 check out the BNI 3.0 Fan Page on Facebook.  If you like to join us as a guest – feel free to drop me a note mike@understandingecommerce.com

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San Francisco, CA—Mayor Edwin M. Lee today introduced a proposed Charter Amendment to require further analysis of all legislation introduced at the Board of Supervisors that may result in a net job loss.

The Charter amendment builds upon Proposition I in 2004 that created the City’s Office of Economic Analysis to review economic impacts from policies being considered by the City. By proposing this Charter amendment, Mayor Lee is strengthening job protections and fostering economic growth.

“I firmly believe that it is City Hall’s responsibility to help small businesses grow and promote job growth in the private sector,” said Mayor Lee. “If approved by voters in June, this Charter amendment will require a special Jobs Impact Review hearing for any new legislation that the impartial City Economist determines could negatively affect jobs. By including the voices of business owners and employees and evaluating impacts and alternatives to job loss in the City, we are improving transparency and accountability in our lawmaking process.”

The proposed amendment would require the Controller’s Office to report on all legislation introduced at the Board of Supervisors that imposes obligations or limitations on private businesses or their operations that may result in a net job loss. It would prohibit the Board of Supervisors from taking final action on ordinances introduced when the Controller’s Office has made this determination and refers the legislation to the Small Business Commission for further consideration and possible development of alternative policy proposals.

###

Francis Tsang
Chief Deputy Communications Director
Office of Mayor Edwin M. Lee
415.554.6467
francis.tsang@sfgov.org

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The Index identified the Top 5 reasons why small business borrowers have not  been received funding.

1. More than 68% of small businesses reported declining sales in the first 8 months of 2011

2. Profitability has declined at more than 86% of small businesses over the last 2 years.

3. Bank underwriting criteria is stricter now than in 2010 when stimulus money was flowing.

4. Uncertainty among big banks is leading to increased dissatisfaction among small business owners.

5. Avoidance: small business owners believe they are unlikely to get loans and that the process takes too long.

Biz2Credit Small Business Lending Index Reports Loan Approval Rates Rose Slightly at Big Banks and Smaller Lenders

NEW YORK (Press Release – November 3, 2011) – The Biz2Credit Small Business Lending Index, an analysis of 1,000 loan applications on Biz2credit.com, found that approval rates of small business financing requests by small banks and non-bank lenders increased to their highest levels of the year during October 2011. Meanwhile, approvals by large banks during October rose slightly from their September levels.

Loan approvals by smaller banks increased to 46.3% in October, their highest rate this year and an increase from 45.1% in September.

Alternative lenders continue to fill the vacuum left by banks and traditional financial institutions. Credit unions, Community Development Financial Institutions (CDFI), micro lenders, and others approved 61.8% of funding requests in October, a rise from the 61.5% approval rate in Sept.

The approval rates at big banks (institutions with $10 billion+ in assets) rose to 9.3% in October from 9.2% in the previous month. Small business loan approvals at big banks have not risen above the 10% rate since April.

“Big banks continue their reluctance to lend money. The causes of this cautiousness include the continuing global financial crisis, as well as U.S. policy uncertainty and the impact of Dodd-Frank Wall Street Reform Act, which tightened regulations,” said Raj Tulshan, named “Top Entrepreneur of 2011″ by Crain’s New York Business and one of the country’s top experts on small business finance.

“Big banks are retooling their overall direction. The ‘Occupy Wall Street’ mentality of the consumer is making an impact. For instance, deposits in credit unions are growing as people who were angered by big bank fees for the use of ATM cards decided to take their money and deposit it elsewhere. This impacts small business borrowing because now the credit unions have more money to lend, despite the 12.5% cap on credit union lending to small business owners.”

The Biz2Credit Small Business Lending Index also discovered that 17% of small companies reported revenue growth of 5% or more through the first ten months of 2011. This is good news, since it is the highest percentage revenue growth for the year. However, 25% of potential small business borrowers said their sales have remained flat.

The Index also identified the Top 5 reasons why small business borrowers have not received funding:

1. More than 68% of small businesses reported declining sales in first 9 months of 2011(fewer and fewer borrowers are reporting declines in revenue, which is a good sign for the economy)
2. Profitability has declined at more than 86% of small businesses over the past 2 years.
3. Bank underwriting criteria is stricter now than in 2010 when stimulus money was flowing.
4. Uncertainty among big banks is leading to increased dissatisfaction among small business owners.
5. Avoidance: small business owners believe they are unlikely to get loans and that the process takes too long.

“The economy is getting better and we can see some green shoots of recovery finally which should be encouraging for small business owners. Combined with job losses at big companies, the role of small business in job creation has become more critical,” Arora added.

Biz2Credit’s analysis also found that loan request amounts ranged from $25,000 to $3 million; that the average credit score was above 680, and that average-time-in-business was slightly more than two years.

Unlike other surveys, the results are based on primary data submitted by more than 1,000 small business owners who applied for funding on Biz2Credit’s online lending platform.

About the Biz2Credit Small Business Lending Index

The Biz2Credit Small Business Lending Index differs from other indices by analyzing required information (primary data) submitted by small business owners applying for financing through Biz2Credit’s online platform, which connects borrowers with more than 400 lenders nationwide.

About Biz2Credit

Founded in 2007, Biz2Credit is a leading credit marketplace connecting small- and medium-sized businesses with lenders, service providers, and complimentary business tools. The company matches borrowers to financial institutions based on business’ unique profile – completed in less than four minutes – in a safe, efficient, price-transparent environment. Biz2Credit’s network consists of 6 million users, 450+ lenders, credit rating agencies such as D&B and Equifax, and small business service providers including CPAs and lawyers. Having secured more than $500 million in funding throughout the U.S., Biz2Credit is widely recognized as the #1 credit resource for small businesses.

Company: Biz2Credit

Company URL: http://www.biz2credit.com/

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When it comes to using social media websites for recruiting – what we call social recruiting – how far is too far? Beyond learning the hard way what works and what doesn’t, there are some best practices emerging to help recruiters know when they’ve pushed the proverbial envelope too far. And hiring professionals are discovering a new line of recruiting applications and tools built into applicant tracking software to help them rise above the same old hashtag to better identify, connect with and place viable candidates.

For all their good intentions, many folks using social media in their recruiting efforts are running into the same issues. Here are the top three:

 Spamming job posts. Want to make your social recruiting efforts ineffective? Spamming people with your job opportunities is a surefire way to do just that. The key to social recruiting is to be social and engaging. Share industry news and articles of interest, exchange personal messages, etc.

• Prying rather than researching. Some positions require a flawless social media presence. For the rest, you shouldn’t be digging too deeply into their profiles. Screening should be focused on general impressions of candidates to see if they would fit within your company culture.

• Penalizing candidates for level of access. It’s not unusual for candidates to deny recruiters access to their Facebook profile, inviting them to connect via LinkedIn instead. Many people use Facebook for personal, rather than professional networking – especially in Generation Y. Don’t write off candidates for showing a bit of backbone and managing their public image – it’s hardly something to penalize.

Lessons Learned from the Trenches

Some people are experiencing more success in social recruiting than others, and have picked up a few tricks worth sharing. Carolyn Betts, CEO of Betts Recruiting, is one such person, and was recently featured in a New York Times article, for leveraging social media to grow her recruiting success. She and I chatted last week, and she shared some lessons she’s learned from the trenches.

• Focus on strategy. You won’t be able to make the most of social media if you’re going into it blindly. You need to have a plan for how you want to accomplish your goals. Betts suggests starting with one social media site, familiarizing yourself with it, then growing your presence gradually.
• Have realistic expectations. When you consider the industry you’re in and the position you’re hiring for, are your deal-breakers realistic? You need to determine upfront how much weight you are giving a candidate’s social media presence.
• Leverage the right apps and tools. Many successful social recruiters know that to make the most of your social recruiting efforts, you need to leverage the right tools. Why go it alone when there are applications with built-in best practices for recruiting more effectively?

Software Expanding Recruiters’ Reach

Human resources software is growing to help recruiters make use of social media in their hiring strategy. But before recruiters can fully harness these helpful tools, they must determine whether or not they are in the right social media playground.

According to JobVite, approximately 85 percent of U.S. companies used LinkedIn for recruiting last year, though only 30 percent of active job seekers are on LinkedIn. As such, many recruiters are finding LinkedIn a bit overcrowded. Where are the candidates? The large majority of them are on Facebook.

Because the data recruiters are looking for is a little harder to find on Facebook, however, many miss the sourcing opportunity this vast network provides. Fortunately, there are third-party software developers devising methods to put actionable candidate information into the hands of recruiters quickly and efficiently. Some of these recruiting solutions – like BeKnown and TalentBin – are standalone applications that leverage recruiters’ networks. Others – like Bullhorn Reach – are applications designed specifically for automating social recruiting.

For further reading, check out this original article at: http://blog.softwareadvice.com/articles/hr/social-recruiting-how-far-is-too-far-010271/

Image via Wikipedia

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You should remember that in most cases investors are not very keen on investing in small business because there is a general belief that small businesses are very risky. However, there are many other sources that you can take loan from and go under debt in order to make sure that your business does well.

Some of the reliable sources that you can take the small business loan from are as follows.

1. Banks: One of the most common sources of small business financing are banks. The financial aids that banks provide you with are in the form of loans and overdrafts. Thus, you can borrow from this source and fund your small business. It is essential that you repay the loan out of the profits that you make from the small business.

2. Government agencies: Another source of revenue are the government agencies. However, you should be aware that the government agencies do not provide you the loan directly. They merely act as guarantee providers. They give the guarantee that you will repay the loan and thus the risk of lending is reduced and lenders will be more willing to lend. In case you are not able to pay back the loan, then the government will pay the lenders partly. So the government agencies actually facilitate the process of lending by providing the lenders with security. Although these agencies do not offer you the loan directly but still they are considered to be one of the most important sources from where you can get your finance.

3. Investors: Most investors are keen on investing in new projects that are interesting. If an investor likes your project, then you may get loans. However, you should remember that when an investor grants you loan you are to provide the investor with a share in your business. This investor could be another small business or an individual. As the investors will be members of your business they will also provide you with some expert advice along with the loan. You can make use of the expert advice and this could prove to be very advantageous.

These are a few sources from where you can get funds for your small business needs.

Contributed by Debt Community Member.

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Given the resource and time constraints of most start-ups, entrepreneurs in this environment are constantly seeking ways to complete critical business functions more efficiently. In most cases, these functions span all aspects of a business.

To effectively compete in today’s markets, growing businesses need access to the same breadth and depth of business services that have traditionally been accessible only to larger business organizations. We allow growing businesses to complete critical business functions.

Articles, blogs, links and more for entrepreneurs

We recognize that it takes much more than financial support to get a Company off the ground, thus we provide assistance in every aspect along the way allowing you to develop and grow a profitable business. Our team offers basic business services including bookkeeping, interim CFO services, inventory management, e-Commerce solutions and more.

We offer Useful Links for Business connecting you to resources at government agencies, business organizations and non-profits who support small business.

What makes a convincing business plan? What do venture capitalists look for at that first meeting? Who belongs on the board of directors?

Grow Your Business

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