An infographic over at the Small Business Blog raises some important questions about time management for us here at ARMA. Are the long hours at work productive? Is being a “small business generalist” worth it in the long run or should we outsource more? Where do we find more people who like accounting? (Not everyone has a great accountant like ARMA).
ARMA has been around for more than 20 years, but many small businesses are struggling to find that sweet spot which will ensure their longevity. This infographic from Intuit explores how to “ensure your doors stay open”:
Some interesting facts brought to us by the Jane Dough regarding women’s priorities at work:
Five to ten years ago, 56 percent of women said that earning a high salary defined their success at work. Now, only 45 percent of the women asked thought a high-paying job was the definition of success. Perhaps the poor economy is the cause for this shift in women’s priorities. Whatever the case, 77 percent of women surveyed globally consider themselves to have a successful career.
When asked about their main concerns regarding their careers, 51 percent of women named “lack of a career path” as their main worry, while 47 percent said their biggest concern was “lack of investment in professional development.” Both of these indicate that businesses should not only be developing female leaders, but helping all employees, male and female, find their place within the business. Helping to mentor and guide an employee, and investing in them, will turn them into even greater assets for the companies they work for.
The emphasis on the last sentence is ours — ARMA finds it rewarding to see something we value so highly identified prominently as a motivator for success!
We spotted this infographic over at the Small Business Blog that was created by Sainsbury Management Fellows about the benefits of mentoring. As longtime advocates of mentoring and teaming here at ARMA, we hope you agree!
The Small Business Administration is a great resource for programs and training that can help your business succeed. Their hallmark event, National Small Business Week, has recently been announced for 2013. Events are scheduled for these dates and cities:
They also have a webinar coming up on Tuesday, April 2nd that will educate firms in SBA’s 8(a) Business Development and HUBZone programs on how BusinessIQ Express (a new online cash flow management tool they’re partnering with) can assist them with managing their business relationships.
The hard truth is that not every startup will succeed. Let this infographic about the failures of high risk startups be a lesson in how to make sure yours is a success story.
As a woman- and minority-owned small business, ARMA has an interest in challenges faced by those respective groups in the business world. HuffPo’s Madeleine M Kunin, best known for being the first female governor of Vermont, had this to say about the recent surge of discussion regarding women’s success in the workforce:
Fair treatment in the work force is no longer exclusively a labor issue, nor is it a women’s issue — it is a fundamental economic issue. Women’s contribution to the economy has surged in recent years. Every time a woman leaves the workforce because she can’t find or afford childcare, or she can’t work out a flexible arrangement with her boss, or she has no paid maternity leave, her family’s income falls down a notch. Simultaneously, national productivity numbers decline.
Another HuffPo writer, Manny Espinoza, has concrete advice on how to push for a more diverse workforce from within a company. One suggestion jumped out to us:
For example, if your firm has a mentorship or sponsorship program but no Latino leaders are participating, you can highlight the limitations of the existing program from your perspective and experience as a Latino employee. By citing your personal experiences (both positive and negative) with the company’s existing programs you will add to the impact and credibility of your perspective.
We look forward to the next post in this series, where Espinoza will deal with diversity within minority-owned companies.
Many of you are familiar with the SBA’s Mentor-Protege Program, where eligible 8(a) participants various forms of assistance from approved mentors.
The SBA outlines some of the benefits for all involved, but essentially protégés can gain technical and management assistance from the mentor’s expertise, resources, and capabilities. Good standing in the Mentor-Protégé program can also result in other forms of SBA assistance as the result of their participation. Mentors can enter into joint-venture arrangements with protégés to compete for government contracts and they can also own equity interest of up to 40% in a protégé firm to help it raise capital.
The Government Contractors Network is currently highlighting a case study from the Mentor-Protege Program between Sabre Systems Inc and AR Services:
Sabre and ARServices have worked together over the last year and recently made the decision to formalize the relationship and enter into the SBA Mentor Protégé program. Sabre will work with ARServices on a multi-year development plan to include business development, opportunity identification, capture planning, proposal development support, program start-up and execution as well as support in the areas of recruiting, human resources, contracts, legal, marketing and communications.
Head over to GovCon to get a better sense of the SBA program in action.
In light of the sequester, its important to continue to emphasize the economic strengths of small business. This infographic from Biz Penguin does just that:
Honesty certainly seems to have been both the most ethical and most profitable decision for a business owner Marcus Sheridan profiled by the NYT in two recent articles. The NYT highlights a particular practice of Sheridan that won both his customers loyalty and trust:
But Mr. Sheridan managed to turn things around by taking an unconventional approach to marketing. He started putting information on his Web site that most pool builders — most business owners, in fact — are reluctant to divulge. He started talking about price. He acknowledged that some people had problems with fiberglass pools and that they were not for everyone. He published a list of the best pool builders in his area — and did not include his company on the list.
Another successful piece of honesty in marketing:
People used to ask me all the time, “Marcus, I’ve been hearing that fiberglass pools have all sorts of problems and issues. So what are the problems and issues?” Of course, they’d been talking to a concrete pool guy, but it doesn’t matter where they got it, now they have the question. So we wrote an article about the problems with fiberglass pools and specifically came right out and said: Here are the issues. Here are the benefits. You decide. Now, when you go in and type anything about fiberglass issues and problems, you’re going to see the River Pools Web site and you’re going to think, “Oh my gosh, these guys are so honest.”