Companies We Love
GH in the news- @Grasshopper
- Interested in getting an 855 number? We're taking reservations now - http://bit.ly/ailETt
- RT @chrisgeyer: excited i get to talk with more of our @grasshopper customers today as well
- RT @melilitts: I use @grasshopper as the main means of communication within my business, since our team is spread all over the US!
Small Business Archive
Is a B Corporation Right for Me?
Traditionally, business owners have had the same few choices when it comes to incorporating. Either go unincorporated (as a sole proprietor or partnership), or form an LLC, S or C corporation. The differences between these various entities typically come down to taxation, the ability to have foreign shareholders and which corporate formalities must be followed. None of them specify what a given company’s values and commitments are – until now.
Enter the B corporation (or “Benefit Corporation.”) It’s a new legal structure that designates a business as “socially responsible.” Unlike a standard S or C corporation, B corporations exist to codify explicit commitments to societal stakeholders.
Origins
The B corporation is a relatively new development. Created in 2006, the entity was first conceptualized by Pennsylvania firm B Lab. Essentially, the B corporation was envisioned as a way for any company to codify and advertise its commitment to “socially responsible” business practices. Becoming a B corporation occurs only after a lengthy certification process during which companies are evaluated on social and environmental matters.
May Edition: 11 Entrepreneur Posts from Around the Web
There are so many great places for entrepreneurs to get information; blogs, forums, Twitter, conferences, meet-ups, co-working spaces, etc, etc. Sometimes it’s hard to sort through them all!
To at least make one part simpler for you, and give you something to read this holiday weekend, I’ve put together a list of some of my favorite blog posts about entrepreneurship and business from the past month. I’m sure there are a hundred more out there but here are my favorites. Enjoy!
1. Which Excuses are Keeping You from Starting or Growing Your Business?
Overview: Matthew from Blogtrepreneur.com offers tips for those “wanna-be” entrepreneurs that are hesitant about starting a business. If you are on the fence about starting a business, this should inspire you to take a leap of faith and just do it! (or at least stop making excuses about why)
2. Entrepreneurs Test Before Starting Your Business
Overview: Kevin from dorm-room-biz.com gears this post towards internet entrepreneurs. It provides step-by-step instructions on how to set up an online marketing campaign for your business. Read more »
What Can The Boy Scouts Teach You About Being an Entrepreneur?
In 1997, the Boy Scouts of America quietly launched their Entrepreneurship merit badge. Sadly, despite the Boy Scouts’ best intentions, the badge did not receive much in the way of consistent support. But on April 29, the Entrepreneurship badge was reintroduced with a much stronger commitment. As Maria Popova of the Huffington Post writes, the badge’s return symbolizes “the increasing value of entrepreneurial thinking as a social problem-solver and a necessary lifeskill in the pursuit of success today.” The badge aims to promote execution, critical evaluation of business ideas and the fundamentals of capitalizing on market opportunities.
Below, we’ll take a look at the Boy Scouts Entrepreneurship badge requirements, and what they can teach you about being an entrepreneur.
Define Entrepreneurship Realistically
One striking feature of the Boy Scouts Entrepreneurship badge is how it begins by asking you to define entrepreneurship, as well as the entrepreneur’s role in the U.S. economy. Yet, a glance at the requirements page shows that it is not sufficient to merely theorize on what entrepreneurship is. To earn the badge, you must find and interview a real-life business owner and ask them:
- How they came up with their business idea
- How they raised startup capital
- How well the business is doing today
Why You Should Pick a Virtual Office
Opening and maintaining an office is one of the costliest moves a new business can make. The obvious expense is the monthly rent, but the financial investment in running an office far exceeds the rent. At minimum, you will need desks and chairs. Most companies eventually want filing cabinets and a water cooler (plus scheduled delivery.) Of course, an office also needs its own Internet connection.
All these costs (and others) are why veteran entrepreneurs advise going without an office early on. That said, some businesses objectively need things like a professional mailing address, a business phone system and meeting areas.
Virtual Receptionists & Assistants
Entrepreneurs frequently take on loaded schedules and find themselves shoving repetitive tasks to the back burner. Traditionally, the solution has been hiring assistants whose sole jobs are to complete those tasks. However, it is actually not necessary for an assistant to physically work beside you in an office. A growing number of entrepreneurs are hiring virtual assistants instead.
Free Grasshopper Accounts for Small Businesses in Nashville
With the recent flooding in the South many companies, including the Small Business Association, are unable to answer their phones.
Grasshopper is offering free service to small businesses in Nashville affected by the flooding. Set up custom greetings to let customers know what is happening or have your calls forwarded to another number.
Contact Grasshopper at 800-820-8210 to get set up.
Is The Government Stimulus Plan Doing Anything For Entrepreneurs?
Every recession inspires government leaders to enact an economic stimulus plan. The assumption is that market downturns are intolerable and can only be cured by political intervention. Yet, it is unclear whether stimulus packages like President Barack Obama’s American Recovery and Reinvestment Act of 2009 stimulate anything other than government spending.
The way to know for sure is to determine what, if anything, such plans do for entrepreneurs. John T. Reed, a Harvard MBA, points out that what actually needs stimulating is business profits, which supply the money for defense, Social Security payments, employee salaries/wages, business taxes and ultimately, the stimulus itself.
What Was Stimulated
The question of whether the stimulus is working, therefore, is really a question of whether it helps entrepreneurs be more profitable. Some aspects of the stimulus do appear to help. Read more »
Great 8: Top Entrepreneur Forums on the Web
One of the great things about the entrepreneur community is the willingness and desire to share the trials and tribulations of starting and running a business. From blogs to forums to podcasts and books, there is a lot of really great knowledge out there. We have chosen eight of the best entrepreneur forums where you can ask questions, find info and share your own stories.
Entrepreneur.com – Industry Groups
Link: http://econnect.entrepreneur.com/browse_groups.php
What is it: Entrepreneur.com is a great forum that covers everything around entrepreneurship and business. The forums are even split up into industry-based groups ranging from construction professionals, to franchising, to sales and marketing to online business and young entrepreneurs.
Why you should read it: Entrepreneur.com has long been a trusted source for all kinds of entrepreneurs. Their forum allows people to connect with each other and share their experiences and knowledge. The starting a business section has nearly 1000 discussion topics!
Why a Recession is the Perfect Time to Start a Business
Recessions are frequently associated with bankruptcy, layoffs and business failures. For seemingly the entire duration, we are fed a steady diet of recession-related negativity by politicians and journalists. Unemployment soars, despair builds, and it seems like the worst is always yet to come. It might sound counter-intuitive, then, to suggest that a recession might be the perfect time to start a new business. But the idea makes more sense than many give it credit for.
For all the pain and hardships recessions cause, they also create unique opportunities for savvy entrepreneurs in general and certain types of businesses in particular. Today, Grasshopper explores why recessions can be an ideal time to get a business off the ground.
Lower Pressure & Expectations
A common barrier to starting a business is fear of failure. Entrepreneurs are often chastised by friends or family to pursue something more realistic (like a “guaranteed” job or career) than the company they dream of starting. Read more »
10 Business Plan Competitions for Entrepreneurs
Have a great business idea but not sure what to do next? Luckily there are people all over the world who want to help you get your business off of the ground. We have listed 10 business plan competitions that can help you do just that. Get feedback and maybe even some funds to help you make your dream a reality.
Silicon Valley Boomer Business Plan Competition
Who is it for?
Anyone 18 years or older from around the globe with a business plan that shows the 45-plus market as the primary market for the product or service. Current annual revenues must be no more than $1 million.
How to enter?
Executive summary submissions are due via YouNoodle
Deadline: April 23, 2010
Link to competition: Silicon Valley Boomer Venture Summit – Business Plan Competition
Cisco I-Prize
Who is it for? Read more »
14 Twitter Feeds Startups/Founders Should Follow
We’ll admit it – the typical Twitter page is more likely to hinder startup success than it is to help. A Google search for “Twitter distraction” generates over 1.8 million results, including in-depth blog posts on how to prevent Twitter from breaking your focus. So we’ll understand if Twitter isn’t currently a big part of your work day. However, it would be unwise for startup founders to unplug completely from Twitter.
In fact, the Twitter accounts of other startups and founders are often treasure troves of relevant, applicable insight. After all, these are folks who have overcome the obstacles you are facing and achieved the goals you are striving for. Who better to learn from? The key to using Twitter productively, of course, is avoiding idle banter and following only those offering concrete, actionable advice. To that end, Grasshopper scoured Twitter for fourteen accounts that any startup founder would be well-served to follow.
Startup Digest
Startup Digest is an awesome service for getting plugged in with your local startup community. They also have a great Twitter list setup for you to follow to filter out some of the noise in your Twitter stream once in awhile and focus on valuable insights from leading tech blogs and entrepreneurs.
