Everything Old is New Again

Written by, Samuel K. Burlum, Investigative Reporter, and author of The Green Lane, a syndicated column, Published on 10/2/2018, a SamBurlum.com Exclusive

Tags: Business, Community, Economy, Entrepreneurship, Small Business, Environmental, Energy, Job Creation

Source: Everything has a life cycle: a career, a product, a technology, even a building or sports venue all have their heyday. When most items in our world become old, broken, outdated or past their prime, we are often very quick to dispose of them. Sadly, even individual lives are often devalued and disregarded in our throw-away society. How do we find new purpose and new life after the prime has been reached?

Broken toys, broken cars, broken homes, and unfortunately, broken people are often viewed today as disposable. Sadly enough, our modern day society has its way of treating people in the same way they treat disposable objects. What if that wasn’t the case? What if everything old had a new purpose? What if each person could find a new purpose that gave them a new breathe of fresh air, giving them a sense of value and importance again?

Our modern day world is so quick to condemn the broken, and will vilify a broken person’s faults and capitalize on the fallen. It is printed in news headlines every day; and while the masses can be quick to judge others, their own fears of mistakes or failure are simultaneously being fed. It is not uncommon for major media to splash the front pages with catchy headlines, purposefully created to trigger the emotional reactions of shock and awe so a reader continues to read on, while they inadvertently end up viewing advertisements within the printed or online media.

How many headlines have you seen recently where the news caster shares about the comeback story of the broken or fallen – how they utilized their adverse set of circumstances to turn their lives around, and as a result, helped to improve the lives of others around them? Today’s society often considers the broken unworthy of a new lease on life, and once the label has been placed on them, it can be very difficult to shake, no matter how much good they do or how much they turn their lives around.

There are individuals, groups and communities that believe everything old can be made new again with a little love, time, dedication, and old fashioned elbow grease. There are signs of this everywhere.

For instance, older homes are often purchased, remodeled and upgraded with modern amenities, while having some of the original features incorporated so the owners could hold onto the home’s original charm that they fell in love with when they first purchased it.  Some of the original doors, floor boards, fixtures, woodwork, etc. are often repurposed for other functions within the remodel.

Another example can be found at the famed Orange County Fair Speedway, located in Middletown, New York. The facility itself and venue has served the racing community for over 150 years between its combined history of harness and horse racing and almost a century of automobile racing.  This track recently got a new lease on life. While many speedways of its kind have fallen to modern day suburban sprawl, the OCFS racing community has supported their decaying “House of Power.” As of recent, the speedway has had a makeover. New grandstand seating and bleachers have replaced the rotting wood chairs. Buildings are being remodeled and painted. Even the race surface has seen a transformation.

It’s the love for the racing community and the love of the sport that helped this happen. The premise of value in this track that holds a great legacy (even though it might be past its prime) is a driving force for Chris Larson of Halmar Construction and the rest of the racing community in breathing new life into something that could have easily been bulldozed into another shopping plaza. The transformation has its cost – financial investment, time and vision, but also brings a refreshing buzz of excitement, renewal and enthusiasm.

Likewise, consider the car enthusiast that spots the rotting carcass of an old rusted automobile parked in a farmer’s field, and envisions a new day on the horizon for the vehicle (which may be thirty, forty or even fifty years old or more). He brings in a tow truck and pulls the relic from the dirt once he has negotiated terms of purchase with the farmer. Back in the shop, the mechanic then pulls apart every nut and bolt, door and fender. Once the car is down to the bare frame, the mechanic makes a parts list, then invests money and time to take the pile of junk and bring it back to life to become a beautiful piece of mechanical artwork.

So why is it that we don’t invest this kind of effort in rebuilding broken people?

In some cases, there are communities of people who believe in investing the same kind of passion and love for one another, realizing that in life, there are second chances. In faith, Christians believe in this concept. The idea of being “born again” is that of a new beginning for an individual who acknowledges his faulty nature and accepts the forgiveness and salvation that is a gift from God, and then commits to following the example of Christ to walk in faith and new habits in line with God’s word. Despite a man’s inability to be perfect, God continues to forgive and guide.

There are advocacy groups that work with former inmates who are now trying to rebuild their lives. These advocacy groups provide assistance and education to former inmates to equip them for successful re-entry into society and gainful employment, and then continue to support and provide guidance to them. In some cases, rehabilitated former inmates begin to mentor other former inmates on re-entry into society as a way to promote peer to peer support.

In sports, second chances don’t happen often, however they do happen. In baseball, a player might be drafted and get their once-in-a-lifetime chance to play in the major leagues. Sometimes, players have unsuccessful debuts or sustain injuries that can really set them back. Some players are even sent back to the minor leagues to work out the fundamentals and mechanics of their skill craft before they can be promoted back to the majors.

What about the players who never meet the mark, yet have extensive knowledge and passion for the sport?  Maybe those players could continue to be involved in the sport and transition their knowledge capital to other areas of the industry such as scouting or sports marketing. The players then have second chances with their career in sports, just put to work in different applications.

There is not any one specific recipe for renewing people who are rebuilding from a poor season in their lives. Everyone’s situation is different. The process starts with the fallen individual.  They must recognize their mistakes and/or weaknesses, learn from them, and be ready to change and apply the lessons learned to become better and stronger. Just the same, we should all be willing to recognize this step and support those who are willing to rebuild from nothing.

It has been said, “Failure is the first step toward success.” If we believe in that quote, then surely successes come from second chances.

Samuel K. Burlum is an Investigative Reporter who authors articles related to economic development, innovation, green technology, business strategy, and public policy concerns. Samuel K. Burlum is also a career entrepreneur, who currently lends his expertise as a Consultant firm to start-up companies, small businesses, and mid-size enterprises, providing advisement in several areas including strategic business planning, business development, supply chain management, and systems integration. He is also author of “The Race to Protect Our Most Important Natural Resource-Water,” and “Main Street Survival Guide for Small Businesses.”

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Every Small Business Owner is A Farmer

Written by, Samuel K. Burlum, Investigative Reporter and author of The Green Lane, a syndicated column, Published on 9/8/2018, a http://www.SamBurlum.com Exclusive

Source: Some believe small business ownership leads to overnight success and immediate wealth, time freedom and social status, when, in fact, the fruits of small business ownership are most often experienced only after years of long hours of toiling and after taking a significant financial risk. We will show how being a small business owner is much like being a farmer.

Small business ownership and farm ownership share many of the same attributes, responsibilities and challenges. The process of growing a business and growing crops in the field are very similar in nature. Most farmers are, indeed, also small business owners, but how is it that small business owners are like farmers?

Much like a farmer, a small business owner must plant the seeds of their future harvest. This means investing into a location, equipment and tools, inventory, and many other aspects of their value proposition before they reap any financial benefit. The small business owner must cultivate the field of potential client prospects and nurture these relationships the same way farmers nurture and provide for their plants, so that in the near future they can benefit from the harvest. The small business owner’s harvest happens when the relationships built with potential clients begin to yield purchases, and the financial exchanges are made for products or services of equal or greater value.

Just like a field of corn or a crop of select vegetables does not grow into a cash crop overnight, the small business owner must also wait for their business to mature. The small business owner must have three qualities that the farmer also possesses – patience, perseverance and vision.  Just as it takes time to grow a quality crop, it also takes time to grow a fundamentally sound business model. During the time in which the crops and business continue to grow, new challenges can arise. The business owner and farmer must both have a plan to deal with these challenges and a willingness to work through the adversity.

Both the farmer and the business owner have an opportunity to sharpen the ax. For the business owner, the downtime in between serving existing and potential clients affords attention to be concentrated on other areas of their business that are critical moving parts of the bigger wheel of small business ownership. Small business owners and farmers must always be looking for ways to make their respective enterprises more efficient. Whether it be dedicating time to education or industry training, development of a marketing-advertising program, or taking some time out to service and maintain equipment and tools, both the farmer and business owner must use downtime to make improvements that will maximize their return on investment.

The business owner and the farmer each have time constraint issues to contend with. The farmer only has so much time to get their ripened produce harvested and to market before the crops spoil. The business owner must also serve his/her customers in a timely manner or put at risk their reputation with the customer. In both situations, the farmer and the business owner must be postured to serve the needs of the customer in the expected time frame that the consumer has set, or they both risk losing the sale. A harvest must be presented to market in a set period of time or the crop becomes unwanted by the market. The same can be said for products or services, as every product or service has a life cycle before it becomes obsolete. New technology is developed each day, and as a society of entrepreneurs, we are always looking to make things better and more efficient for less money.

The farmer and business owner must also be good managers of the tool known as money. A farmer has to know the cost of growing fields of their preferred crops, as well as all of the indirect cost of operating their farm. Farmers must be able to budget their money wisely so that they have enough resources to operate their enterprise until the next harvest provides additional cash flow. Small business owners also must also be good money managers. They must plan and gauge their inventory and/or services, as well as turnover time in between sales cycles and projects, so they too can have enough cash to run day to day operations until the next wave of sales happens. The farmer works on slim margins and knows that a bad year in the fields means a hard year of managing expenses until the next harvest is available. The small business owner must also be prepared for long sales cycles and poor performing seasons.

The business owner and farmer both must be able to see the field full of harvest before they even begin. This is called having vision. The small business owner must have a short term and long term plan for creating a return on their original investment while also pointing to the future of what will happen in a year, three years, and even five years down the road for their enterprise. A farmer stands in the field in early spring, before the first rows have been tilled, and must be able to see the crop that is to be harvested in the fall, even before the first seed is planted. The vision provides the ability to stake a plan of action that brings the series of events into focus that leads both the small business owner and the farmer to the day when they can be proud of the investment they made into their respective fields of practice.

Small business owners are farmers, regardless of whether they own a retail business or a service-oriented business. They must always plant new seeds of potential customers in growing their consumer base, cultivate and nurture business and community relationships, and invest themselves in the “behind the barn” work that is part of the machine of their value proposition to the market. If you want to become a great small business owner, aim to become a farmer first.

Samuel K. Burlum is an Investigative Reporter who authors articles related to economic development, innovation, green technology, business strategy, and public policy concerns. Samuel K. Burlum is also a career entrepreneur, who currently lends his expertise as a Consultant firm to start-up companies, small businesses, and mid-size enterprises, providing advisement in several areas including strategic business planning, business development, supply chain management, and systems integration. He is also author of “The Race to Protect Our Most Important Natural Resource-Water,” and “Main Street Survival Guide for Small Businesses.”

“It’s a Pyramid Scheme…”

Written by, Samuel K. Burlum, Investigative Reporter and author of The Green Lane, a syndicated column, Published on 8/2/2018, a SamBurlum.com Exclusive

Tags: American Free Enterprise, Business, Direct Marketing, Multi-Level Marketing, Network Marketing, Opportunity, Small Business,

Source: Multi-level marketing has received a great deal of criticism throughout the years, being accused of scamming people out of their money while coaxing them with grand visions of financial independence and lavish lifestyles. Though the odds have not always been in favor of the average network marketer, we uncover the myths versus facts of network marketing business opportunities.

So why does multi-level marketing receive such negative press and opinion? Chances are, the majority of negative opinions were developed by individuals that tried to make a go at becoming successful in a multi-level marketing business venture, and failed to achieve the success that was originally advertised. The statistics are not pretty, however when you compare them to how many people start a traditional business and fail, or how many people try to become professional athletes and fall short of their desired success, the statistics are relative to other career aspirations that are not achieved.

According to a Report authored by Robert FitzPatrick in 2005, over ninety-nine percent of individuals that got involved with multi-level marketing business opportunities ended up losing all of their investment. Studies performed by third party consumer watchdog groups have proven that between 990 and 999 people out of 1000 that have signed up as network marketers have lost their entire financial investments; and for some, because they had dedicated so much time to their multi-level marketing businesses, were let go from their day jobs or lost out on other career opportunities. It will be interesting to see if these numbers change as the industry transforms.

It is difficult to decipher the true number of MLM profits, losses and sales revenue from retail customers versus the network marketer participant’s product purchases because most MLM companies historically have not disclosed the data that makes a clear distinction between sales revenue from their consumer-only audience versus sales revenue from their own network marketer participant audiences.  Because there has been little incentive to solely focus on consumer retail sales, and much of the focus in the industry’s business training has been directed to recruiting a “downline”, few network marketers have focused their sales efforts on establishing retail sales only.

The fact that most MLM parent companies’ total gross revenue is not in direct relationship to what each independent distributor earns creates a blur between the numbers, a truth often skewed when a MLM company is presenting an opportunity. If the math and the probability of success is not in favor of the network marketer, why do people still sign up to participate?

Some individuals join the networking side of the business because they enjoy the parent company’s products so much that they continue to purchase them, but desire to continue making their purchase commitments at a significant discount. In some cases, the consumer then becomes their own network marketer and tends to save enough on product discounts that their fee for joining is covered over time.

Some individuals are drawn to the social lifestyle and travel, the added value of education and training, and networking with other like-minded individuals; thus treating their distributorship more like education and/or a social club membership. In some cases, this training, networking and the connections made also benefit their other businesses or day jobs. Some individuals just enjoy the flexibility that the MLM opportunity provides, and want complete control over their own schedules. Sometimes these individuals might be involved with more than one MLM opportunity, where they may profit from cross pollination of their networks from one organization to the other (though most often frowned upon and against company policies).

Some individuals become network marketers because they believe that they (and their team) will defy the odds and strike it rich, hoping to find themselves at the top of the pyramid after the masses of other people quit. For some, the idea of “owning a business” or being “in the business” is attractive, and they will leverage that representation to recruit others into their organization.

In the legal sense, a network marketer does not own their own business (unless they have their own corporation or limited liability company that is in contract with the MLM parent); because the network marketer does not own any hard assets owned by the MLM parent organization. The Network marketer does not own the patents, intellectual property, physical property, inventory (in most cases), or other intangible business assets such as a website or domain name; nor can the distributor’s “business” be sold or acquired for a profit (in most cases).

Multi-level marketing companies have had their fair share of legal bouts. In the 1980’s, the Amway Company was met with much criticism and negative press. As of most recent, HerbaLife faced the wrath of the Federal Trade Commission. Yet network marketers that remain committed to multi-level marketing claim they have benefited from their involvement and have seen a return of investment after three to five years of dedicated efforts.

Skeptics, media, and government agencies focused on consumer protection argue that a multi-level marketing agency crosses over to a pyramid scheme when it pays more focus and monetary benefit for new network marketer recruitment than on product sales commissions, where the participant (the network marketer) can only make sales commissions on consumer retail sales if their downline is meeting mandated personal consumption inventory buys; and in order to earn either bonuses from recruitment or sales commissions, one is most often required to maintain an automatic shipment purchase of company products themselves that also may include a number of pre-requisite items such as tools, marketing materials, and training materials.

There are some multi-level marketing companies that do focus more on the products and services offered than on network marketing recruitment of new participants. Companies like Primerica and Pre-paid Legal focus on the sales of services, and encourage their network marketing representatives to be successful at selling these services before recruiting new people into their downline. These companies also have no required auto-ship.

Some companies have changed their business model to adapt business practices acceptable to watchdog groups and government agencies. Some have also eliminated the requirement for auto ship purchasing, and have increased compensation benefits to allow individuals who only desire to earn commissions on sales of products, to do so and see a return on investment within a reasonable time period.

The perspective of ‘being a product of the product” holds true in successful product promotion, and most people are drawn to specific MLM companies because they see the value and benefits of the products that the company offers. However, many folks who are introduced to these companies have limited financial resources and are already struggling to get by. Though they may like nothing more than to be able to personally enjoy the benefits of the company’s product lines every day, they may not initially have the means to purchase them monthly while doling out the expenses of building their business – such as tools, training and fuel. It is also important to keep in mind that it takes time and training to build the knowledge, skill sets and relationships necessary for success; and most often, little (if any) monetary earnings will be recognized for the first several months, especially for those who are new to the industry.

If you’re still intrigued and contemplating whether or not the MLM industry might be for you, your next step may be to research a few multi-level marketing companies, along with their products, culture, and compensation plans with a fine eye focused on detail and the fine print. Before joining a MLM organization, you have the right to research and ask for reports on the average payouts per year to new recruits, statistical and historical analysis on success/failure rates of network marketers within that organization, and for a review of consumer complaints related to the MLM parent company’s product offerings. Once you have found the MLM opportunity you are comfortable in working with, continue to move on with your new business opportunity with cautious optimism.

Samuel K. Burlum is an Investigative Reporter who authors articles related to economic development, innovation, green technology, business strategy, and public policy concerns. Samuel K. Burlum is also a career entrepreneur, who currently lends his expertise as a Consultant to start-up companies, small businesses, and mid-size enterprises, providing advisement in several areas including strategic business planning, business development, supply chain management, and systems integration. He is also the author of “The Race to Protect Our Most Important Natural Resource, Water;” and “Main Street Survival Guide for Small Businesses.” 

Tax Code Reform, So What Did We Get?

Written by, Samuel K. Burlum, Investigative Reporter, and author of The Green Lane, a syndicated column, Published on 8/2/2018, a SamBurlum.com Exclusive

Tags: Business, Community, Economy, Entrepreneurship, Finance, Small Business, Tax Policy

Source: With Tax Code Reform signed into law, there are a number of changes to be aware of. We review the biggest changes to the tax code that have been made since the last set of revisions that were made in 1986.

The largest reform to the current tax code since 1986 was enacted into law at the end of 2017. This reform has come with mixed reviews by skeptics, who sought more resolve to the existing tax code laws. Most of the adjustments to the tax code have been on the personal tax side of the books. Some of the most noticeable changes include:

  • The Child Tax Credit increasing from $1000 to $2000, so families can benefit from this adjustment, which leaves more of the wage earner’s money on the table at home.
  • A significant change to the Individual Tax Rate and Bracketing. Prior to the change, there were six specific brackets in which personal income tax was rated. The 2017 tax code reform has added additional brackets with adjustments to existing brackets. These changes were minimal, however for some wage earners, the changes can mean having a few extra dollars in their pockets for their families.
  • An increase in the standard deduction from $12,700 to $24k for married filing joint couples. The standard deduction has increased from $6350 to $12,000 for single filers. The head of household deduction has increased from $9350 to $18,000.
  • Good news for the small business owner. Small business owners that operate pass through income corporations (S Corps or LLC) were formally taxed at the individual tax brackets. These same pass through corporations now receive an added twenty percent deduction bonus. A benefit for C-Corporations has also been worked into the bill. C-Corporations will see a reduction from a thirty-five percent tax rate to twenty-one percent flat, giving corporations the largest adjustment to corporate tax in decades. In addition to a change in corporate tax rates, the Alternative Minimum Tax (AMT) for corporations has been repealed.
  • Changes to personal exemption allowances. Formerly, the personal exemption allowance was up to $4050 per person, however since the new tax code is in place, this exemption has been eliminated. To compensate for this, an increase in the standard deduction has been implemented.
  • A cap in SALT (state and local tax) deductions. Some property owners may not fare well in the new tax code deal. State and local income tax was formerly deductible prior to tax code reform; however, in accordance with the new tax code, this deduction is now capped at $10,000 in total between both property and income taxes. Some say this hurts property owners who relied on the former allowance to offset the pain they felt when paying heavy burdens on their state and local property taxes.
  • Adjustments to the mortgage interest deduction. In 2017 it was allowable to deduct the interest up to $1 million dollars on your main residence. The new code drops this deduction to $750,000 for new loans that are generated in 2018 and forward.
  • Added benefit for individuals that have 401ks. Such investors have plenty to be happy about. As the new tax code specifies, the cap on employer-sponsored 401k programs has been increased by $500. This also allows for anyone over the age of 50 to contribute up to $24,500 into their 401k. On the other side of the coin, deductions for IRA’s will be phased out. However, some exemptions on this plan will still be allowed. Other adjustments and phase outs include Roth IRA exemptions and deductions.
  • An increase in Earned Income Tax Credit maximums. This tax code rule was increased to assist families with multiple children. Though the increase is not a landmark, the modest increase was made to help struggling families.
  • An unexpected surprise in the area of gifting. An individual can now provide a gift up to $15,000 to any one other person without the receiver having to deal with a tax liability.
  • An increase in the maximum Social Security taxable earnings amount, which affects employees, employers and the self-employed.

So which states benefited and which states were most affected by the new tax code reform? For low income families, the states that receive the least amount of benefit include Alabama, Pennsylvania, Montana, Wyoming, and Vermont.  States that received the most benefit for low income families include District of Columbia, Arizona, Nebraska, Texas, and California.

As it relates to middle class family demographics, the states that received the most benefit include Alaska, Nevada, New Mexico, Delaware, and California. Middle class families on the other side of the spectrum in the states of Maine, Maryland, Connecticut, West Virginia, and Arizona lose out on this round of tax code reform.

For high income families, the states of Alabama, Tennessee, Wyoming, Arkansas, and Ohio gain the most from tax code reform. The wealthiest in the states of Mississippi, California, New Jersey, New York and Arizona stand to lose the most with the new tax code reform bill.

To find out how the tax code reform directly affects you, refer to your tax attorney or certified public accountant for additional information. This article was not intended to provide tax or financial advice, but to provide awareness by highlighting some of the most noticeable tax code changes.

Samuel K. Burlum is an Investigative Reporter who authors articles related to economic development, innovation, green technology, business strategy, and public policy concerns. Samuel K. Burlum is also a career entrepreneur, who currently lends his expertise as a Consultant firm to start-up companies, small businesses, and mid-size enterprises, providing advisement in several areas including strategic business planning, business development, supply chain management, and systems integration. He is also author of “The Race to Protect Our Most Important Natural Resource-Water,” and “Main Street Survival Guide for Small Businesses.”

Who are the Voices for Small Business?

Written by: Samuel K. Burlum, Investigative Reporter And author of The Green Lane, a syndicated column Published on 6/2/18, a SamBurlum.com Exclusive

Tags: Business, Community, Economy, Entrepreneurship, Finance, Small Business

Source: When the small business owner needs a voice, where do they go? We provide a host of some of the largest organizations that advocate for the small business community.

Small Businesses are the life blood of the US economy, and account for half of the total number of jobs and persons employed. Small businesses account for the majority of local economic engines. When Small Businesses need support or a voice to stand up for their concerns, there are a number of organizations they can rely on to advocate on their behalf. Here are a few organizations that have received positive rankings from small business owners:

Association of Washington Business: Since its formation in 1904, Washington’s oldest and largest business association continues to serve as the state’s chamber of commerce as well as the manufacturing and technology association. AWB advocates on behalf of businesses of all sizes and from all industries, working to unify and find solutions to issues facing Washington employers, their employees and communities. AWB is located at: 1414 Cherry St. SE, Olympia, WA 98501, toll free number: 800-521-9325, e-mail: members@awb.org. Additional information can be found on their website: https://www.awb.org.

Entrepreneurs’ Organization: Founded in 1987, EO is a global business network that enables business owners to learn from each other by providing numerous resources to assist in educating and inspiring personal and professional growth. EO has international locations in Singapore, Belgium, Panama, and Canada, EO’s global headquarters is located at: 500 Montgomery Street, Suite 700, Alexandria, VA 22314, telephone: 1-703-519-6700. Additional information can be found on their website: https://www.eonetwork.org.

Minority Business Development Agency: Minority Business Development Agency is an agency of the US Dept. of Commerce. Their focus is to assist in the development and growth of minority-owned businesses, utilizing private and public sector programs, policy, and research. Additional information can be found at: https://www.mbda.gov.

National Association for the Self-Employed: Since 1981, NASE – the National Association for the Self-Employed, has been the nation’s leading resource for entrepreneurs, utilizing publications, media relations and a foundation with which entrepreneurs and their small businesses can benefit from. It is the largest nonprofit, nonpartisan association of its kind in the US. NASE is located in Annapolis Junction, MD 20701-0241, telephone: (US) 1-800-649-6273 and (AK & HI) 1-800-232-6273. Additional information can be found on their website: http://www.nase.org.

National Business Association: The National Business Association (NBA) has been working alongside small business owners for 35 years, providing resources and benefits needed for business owners to succeed. The NBA can be reached by telephone: 1-800-456-0440. Additional information can be found on their website: nationalbusiness.org.

National Federation of Independent Businesses: Founded in 1943, the National Federation of Independent Business (NFIB), is the largest small business association in the US, working to defend the right of small business owners to own and operate their businesses without undue government interference. NFIB has offices in all 50 state capitals, including Washington, D.C., with its headquarters in Nashville, Tennessee. They can be reached by calling: 1-800-NFIB-NOW, or 615-872-5800. Additional information can be found on their website: www.nfib.com.

National Minority Supplier Development Council: National Minority Supplier Development Council is a non-profit organization that advances business opportunities for certified minority business enterprises and connects them to corporate members, building long term strategic partnerships which encourage economic commerce between large corporate interests and locally developed small businesses owned by minority men and women. NMSDC also assists minority owned small businesses to obtain their certifications. NMSDC is located at 1359 Broadway, 10th Floor, Suite 1000, NY, NY 10018. You can also call NMSDC at (212)-944-2430 or through the NMSDC website: www.nmsdc.org

National Retail Federation: The National Retail Federation (NRF) is the world’s largest retail trade association, representing retailers from over 45 countries, including the US. Their mission is to use advocacy, communications and education with which to promote the best interests of the retail industry. The NRF is located at 1101 New York Ave. NW, Washington, DC, telephone: 1-800-673-4692, or 1-202-783-7971. Additional information can be found on their website: https://nrf.com.

National Small Business Association: Since 1990, the National Small Business Association, Inc. has provided small business owners, their employees, and retirees access to innovative services, resources, and benefits, such as collegiate scholarship awards to eligible NSBA members and their families. The NSBA is committed to small business advocacy and public awareness. Telephone: 1-888-800-3416, and email: contact@nsba.net. Additional information can be found on their website: http://www.nsba.net.

Owner Operators Independent Drivers Association: Starting in 1973, the international Owner-Operator Independent Drivers Association represents the interests of independent owner-operators and professional drivers on every issue affecting truckers in all 50 states and Canada. OOIDA seek to ensure that truckers are treated with equality and to ensure highway safety and responsibility among all highway users, as well as improve the business climate for all truck operators. Located at 1 NW OOIDA Drive, Grain Valley, MO 64029; telephone: 1-800-444-5791. Additional information can be found on their website: http://www.ooida.com.

Small Business Administration: Founded on July 30, 1953, the US Small Business Administration focuses on four main venues with which it works: assistance to capital, entrepreneurial development, government contracting and advocacy for small business across the United States. The SBA provides millions of loans, loan guarantees, contracts, counseling sessions and various other forms of resource and assistance to small businesses. The SBA has several key locations, with a toll-free number: 1-800-827-5722. Additional information can be found on their website: https://www.sba.gov.

Small Business Association of America: Since 1964, The Small Business Association of America has provided insured benefits, discount benefit plans and services to its members, who included small business owners, those self-employed, individuals and families. Monthly dues are required. SBA is a non-profit organization located in Washington DC. Additional information can be found on their website: https://www.sbaamerica.com.

Small Business International: Small Business International provides guidance and resources when a small business entertains the possibility of connecting with international partners, including matching products and services with over 80,000 other members. Business can find out more information about importing or exporting, trade laws and compliance, and more. Visit Small Business International at www.smallbusinessinternational.com

Small Business Owners & Professionals Association: Small Business Owners and Professionals Association of Canada is a non-profit organization founded with the mission to provide small business owners, their employees and retirees access to a wide variety of services, programs, information and benefits, such as sponsorship activities, networking opportunities, scholarships, and advocacy, all to aid in the success of their businesses. Additional information can be found on their website: http://sboapa.org.

United States Association for Small Business & Entrepreneurship:  The US Association for Small Business and Entrepreneurship is an organization that seeks to assist the entrepreneurship community through teaching, scholarship, and practice opportunities. The USASBE includes members who are teachers, researchers, program directors and practitioners. Located at: 1214 Hyland Hall, 800 W. Main St., Whitewater, WI 53190, telephone: 262-472-1449. Additional information can be found on their website: http://www.usasbe.org.

US Chamber of Commerce: Founded on April 22, 1912, The US Chamber of Commerce is the world’s largest business organization representing the interests of over 3 million businesses with 3 main areas of focus: advocacy, community, and leadership. Members include mom-and-pop shops, local chambers, large corporations and leading industry associations. The USCC is located at: 1615 H Street, NJ, Washington, DC 20062-2000, telephone: 1-800-638-6582. Additional information can be found on their website: https://www.uschamber.com.

Young Entrepreneurs Council: Young Entrepreneurs Council provides all the tools needed for its members to become successful business entrepreneurs. The YEC staff utilizes their extensive knowledge, networking opportunities, media exposure, and personal branding development to bring their members from novice to polished professional. YEC is located at: 745 Atlantic Avenue, Boston, MA 02110, email: info@yec.co. Additional information can be found at: https://yec.co.

Samuel K. Burlum is an Investigative Reporter who authors articles related to economic development, innovation, green technology, business strategy, and public policy concerns. Samuel K. Burlum is also a career entrepreneur, who currently lends his expertise as a Consultant firm to start-up companies, small businesses, and mid-size enterprises, providing advisement in several areas including strategic business planning, business development, supply chain management, and systems integration. He is also author of “The Race to Protect Our Most Important Natural Resource-Water,” and “Main Street Survival Guide for Small Businesses.”

 

Effective Crowdfunding Techniques

Written by: Samuel K. Burlum, Investigative Reporter And author of The Green Lane, a syndicated column Published on 5/22/18, a SamBurlum.com Exclusive

Tags: Business, Community, Crowdfunding, Economy, Entrepreneurship, Finance, Small Business

Source: When it comes to raising money for your business online, there are several platforms available depending on your business’s value proposition, but getting an audience to review and take action in becoming a donor is the more difficult goal. Here are a few of the most effective techniques that will assist your business with its crowdfunding goals.

Kickstarter, Indiegogo and GoFundMe are three of the most popular fundraising platforms for pre-launching a unique value proposition online. The most popular campaigns consist of book projects, market disruption technologies, and other products designed to satisfy a need or solve a problem. Hundreds of entrepreneurs have utilized online crowdfunding platforms to get their offering to market. Not every campaign launched is a success. Some of the latest and greatest well thought out ideas sizzle out due to the lack of integration of methods in promoting the campaign itself and/or lack of audience engagement. Here are a few of the most effective crowdfunding practices that can enable your campaign to be a bigger success…

1). Set reasonable goals. Not every crowdfunding campaign will be able to sell out every perk and end up with millions of dollars at the end. It is better to set reasonable and obtainable financial goals based on your current business audience and following. It is always better to set a lower financial goal, offer many perk packages, and over shoot the expectations. When a goal is considered unrealistic, most campaign contributors will skip over and move onto the next campaign in fear that in the event your campaign does not reach its goals, it will not be in a position to deliver on the perks it offers.

2). Maximize the term of the campaign. Crowdfunding campaigns need plenty of time to be marketed, showcased, and shared with an audience of potential contributors. Setting the length of the term of the campaign to at least sixty days will allow for your campaign to be seen by more people. The longer a campaign is open, the more opportunities you have to update the campaign, and adjust posts and project progress with your following audience. As the number of contributors climbs, more people will be open and willing to contribute to the campaign. A campaign that has attracted traffic, has more reach and draws even more attention. Allow yourself enough time to work out the formula for success.

3). Don’t be afraid to tell your story. Crowdfunding is an opportunity to share your “why” behind the project and the “what” the value proposition is.  It is wise to share how you came to the idea you did (your motive and intention); and a clear description of the deliverable (the what). Contributors like to feel like they are helping someone out that has lent their struggle to solving a problem with their value proposition. Contributors want to believe in the people behind the perk as much as they desire to believe in the value of the perk itself. It is fine to be passionate – this is where you also get to pitch you.

4). Be clear in describing what is in it for the contributor. Any time a potential consumer contemplates to part with their money, they analyze a series of self-discovery questions. “How will this change my life?” “Do I really need the perk?” “Will this product-book-technology really help people?” “Will they (the campaigner) be able to deliver?” And most of all, “What’s in it for me?”  Ask yourself, if you were the potential contributor, do you really need this in your life? And then ask yourself, if you do purchase the perk, what will the perk really do for you? Your perk packages should be something everyone wants or can appreciate. A true and clear representation of the value of your perk will often determine how much risk a contributor is willing to take. Is it something anyone can get in a local store, or is it unique and limited?

5). Engage the crowd. Crowdfunding was designed to have two functions:

  • To raise money for a cause
  • To collect feedback from potential consumers

The more engaging a campaign with a group of followers is, the higher the probability is that your campaign will have more contributors. Crowdfunding allows for both the inventor/entrepreneur and for the market to have an early conversation about the product offering. This should also give the campaigner valuable data to improve the make and model of their concept when necessary. Don’t be afraid to answer questions, provide test results, and make changes according to the positive feedback you receive. The more information you can share in an open dialog the more willing a contributor will be in supporting your cause.

6). A great marketing strategy drives every well-funded campaign goal. Effective marketing and advertising methods can assure that a larger audience views your campaign. Your marketing strategy should employ a mix of marketing tools, many of which have little or no cost. Make sure the marketing of your crowdfunding campaign includes a mix of social media, blog content, press releases, video content, photo content, search engine optimization, articles, testimonials, endorsements, product-book reviews, back link integration, and some use of traditional advertising. You will need to monitor and update marketing metrics, so you can adjust your marketing mix according to how potential contributors respond to your message.

7). Perform your due diligence. There is nothing new under the sun, and the same goes for crowdfunding. Even if your product is the first of its kind, there may be a similar market solution or competitor in your industry space. Research the “problem” and review the “solutions” other entrepreneurs have offered to the market. Then research how many of those entrepreneurs employed crowdfunding to upstart their enterprise. Chances are that there will be a number of campaigns that were very successful and some campaigns that were an utter failure. Make a list of the techniques that were most effective and the mistakes made that caused a campaign to flop. Compare these techniques against the list of practices you desire to employ in sharing your campaign.

8). Have a complete understanding of your potential audience. You must have a clear understanding of the audience you desire to enroll in your campaign. The demographics of the audience and the geographic location of potential campaign contributors can have an effect on whether your campaign is a success or failure. For instance, most digital or complicated electronic devices are more popular with younger generation donors. In contrast, if you have a very traditional product offering, then you need to identify, and target your campaign to, the audience that will have the most interest in your value proposition.

9). Be transparent with how you plan to spend your campaign funds. Campaign contributors want to know if you have a financial plan in place for spending or saving the money in which they have pledged. Most campaigns have best succeeded by using the campaign contributions to fulfill actual product orders. Most campaign contributors want to pre-pay for the unreleased product or book before everyone else in the neighborhood has it. Be prepared to plan to give back all of your campaign contributions in the event you do not meet your goals.

10). Set a reasonable timetable of delivery. Truth is your value proposition should be almost market ready. Crowdfunding should not be the only source for funding your project, nor should your campaign’s success or failure determine if your product is going to ever be manufactured. Set a reasonable delivery date that campaign contributors can expect their perk. In the event your project takes longer than expected, it is important to share with your contributors about the delay and updates of progress until the project orders are fulfilled.

11). Show that you are willing to invest into yourself. Most campaign contributors want to see that the entrepreneur has some of their own risk involved. There are two basic types of investment you are going to be required to make in your own project. The first is monetary. You must have some of your own capital at work. Having the ability to share with potential donors the actual amount of hard cash investment you have at stake before asking for outside financial resources always strikes a positive cord. The other investment you will have to make is sweat equity. Provide detail with contributors how much time you have invested and how much work you have put behind the project. You can share with the audience the functions and tasks you are personally responsible for. It is also good to provide some back story of your experiences and regarding your abilities to deliver upon those said tasks.

Each crowdfunding campaign has its own unique value proposition, and brings with it each entrepreneur’s story. The more thought you invest into each of these areas of your campaign, the greater the probability that a larger audience will take notice and interest in your campaign.

Samuel K. Burlum is an Investigative Reporter who authors articles related to economic development, innovation, green technology, business strategy, and public policy concerns. Samuel K. Burlum is also a career entrepreneur, who currently lends his expertise as a Consultant firm to start-up companies, small businesses, and mid-size enterprises, providing advisement in several areas including strategic business planning, business development, supply chain management, and systems integration. He is also author of “The Race to Protect Our Most Important Natural Resource-Water,” and “Main Street Survival Guide for Small Businesses.”

Why is Fashion So Important?

Written by: Samuel K. Burlum, Investigative Reporter and author of The Green Lane, a syndicated column, Published on 5/17/2018, a SamBurlum.com Exclusive

Tags: business, community, fashion, clothing, financial investment, social-economic status

Source: Throughout history, society has turned to the latest fashion statement as a mark of social status. Why is fashion so important? Why do so many people pay attention to it, and why does it even matter?

Fashion in clothing has always stood as a social economic symbol for individuals that were in tune with the times. For some, clothing is just fabric that serves the purpose of covering and protecting the body. For others, fashion is a form of living art in motion.

It is believed by many in the fashion industry that fashion is a way for individuals to express themselves. Each color and type of fabric has a meaning, and matches a personality type. When colors and fabrics are mixed, each combination tells a story about the person wearing it, much the same as it does of the person or company that designed it. Each fashion trend has a “look” or style that best reflects individual personality and demeanor. Every person contributes a personal touch to each day’s outfit.

For instance, navy blue and a mixture of gray colors for business suits and outfits are considered the most professional in the office environment; however, if you are at a trade show trying to attract attention, you might wear white or bright colors to get noticed by people. Such “rules” for fashion usually come from corporate dress codes, with the intent of being neutral and objective to the audience you are trying to communicate with.

Fashion itself has always been a reflection of the sign of the times. Whether it is for a social economic reason, political statement, or within a culture’s tradition, fashion has always played a role in communicating the “message” of a people or a message of the times. Each culture has its own unique traditional dress that reflects its community’s belief system, whether it be philosophical or religious. As technology has improved manufacturing capabilities, fashion has gone from being “homemade” to more mass produced, thus more audiences may wear similar clothing than in the past.

A newer trend in clothing fashion goes beyond purpose, function and the traditional forms of influence to include becoming mobile billboards for the fashion brands themselves. If you take a look at fashion brands such as Tommy Hilfiger, GUESS and Juicy Couture, their signature brands have become the focus, not the people wearing them. Their ad campaigns can make people feel that if they do not own a Hilfiger or GUESS article of clothing, they are not part of the cool crowd. Other clothing brands focus on becoming high energy, luxury life style brands, thus owning their clothing becomes a status symbol.

For others, fashion, style and choice of brands are determined primarily by an individual’s personal passion, hobby or cause, making their clothing into their own personal billboard. Some examples of this are seen in sports apparel, racing, motorcycle apparel and brands committed to environmental sustainability and human rights.

Fashion has become a living art form, and though most average working class individuals may never spend thousands of dollars on one single article of clothing, individuals have come to appreciate the many artistic designs presented on the runway or showcased on models in department stores. This work of art says something to each person that views it. Some of these designs may be ridiculous to wear in any daily situation, however, the design itself may spur off other creative ideas because of the shapes, colors, or materials used to create the living art.

It has also been said that we feel the way we look. As human beings, we are very visual people. How we see ourselves in the mirror before leaving our homes for the day may be a reflection of how we feel about ourselves. Have you ever put on an article of clothing such as a suit and tie or a dress and instantly felt better about yourself? Showing that we are willing to invest into ourselves before we leave home for an important meeting, or for a family or social event, usually will reflect the response that we demand from others on how they view us. Though we are taught not to judge a person by their appearance, we do; and it’s the first impression that lasts the longest in our mind.

Fashion is not just clothing. It is a representation of an industry that employs millions of people. From designers to production line manufacturing, from marketing and advertising to retail workers, many jobs and economic foundations are based on the fashion industry. The next time you choose a piece of clothing from the rack, ask yourself how many people were involved with the final product you can touch and see in the store. Even the raw materials had to be grown or harvested by a farmer or field hand.

Ultimately, fashion is a personal choice, whether you chose your style to serve a specific purpose or it’s to impress others around you, fashion is meant to be the personalized message you dare to share with others. For some, fashion trends are not that important, but rather a matter of form and functionality. Whatever your view, it is reflected in how you present yourself.

Samuel K. Burlum is an Investigative Reporter who authors articles related to economic development, innovation, green technology, business strategy, and public policy concerns. Samuel K. Burlum is also a career entrepreneur, who currently lends his expertise as a Consultant to start-up companies, small businesses, and mid-size enterprises, providing advisement in several areas including strategic business planning, business development, supply chain management, and systems integration. He is also author of “The Race to Protect Our Most Important Natural Resource-Water,” and “Main Street Survival Guide for Small Businesses.”

 

Crowdfunding Options for Entrepreneurs and Small Businesses

Written by: Samuel K. Burlum, Investigative Reporter And author of The Green Lane, a syndicated column, Published on 5/8/18, a SamBurlum.com Exclusive

Tags: Business, Community, Crowdfunding, Economy, Entrepreneurship, Finance, Small Business

Source: Many small start-up businesses and tech ventures in search of capital turn to popular online platforms for crowd fundraising of financial resources to get their concept off the ground and launched into market. Indiegogo, Kickstarter, and GoFundMe, to name a few, offer solutions in generating cash to fund new ideas. How do you get people to contribute to your cause?  We take a look at some of the most effective crowdfunding techniques.

In the last decade, there have been a number of crowdfunding platforms that offer a menu of fund raising options, including the launch and growth of Indiegogo, Kickstarter, and GoFundMe. A potential campaign contributor can find a variety of crowd fundraising campaigns that range from an inventor who is in search of a few thousand dollars, to a large, corporate-backed venture that is accepting pre-market orders for their new value creation. Each platform specializes in their own niche offering, and provides a formatted recipe for what works in getting campaign contributions.

For instance, Indiegogo mandates that campaigners build and maintain a very aggressive plan that engages with multiple audiences from the campaign’s inception. As a part of the Indiegogo playbook, campaigners must make weekly posts and provide monthly updates for campaigns that have transitioned from either a 30 or 60 day campaign to their long term product called InDemand.  Indiegogo shares that campaigns must include video and photo content as part of their message in sharing their offering with potential contributors.

Kickstarter is also a leader in assisting with the introduction of innovative products and new books, music and other forms of art to market. What makes Kickstarter so successful for some entrepreneurs are the tools available that Kickstarter offers to promote their campaigns. Crowdfunding campaigns that have the highest rate of success with Kickstarter are those that offer something that is new, solve a problem, and offer something practical that people are willing to buy. Most products presented on Kickstarter are beyond concept and are ready for manufacturing and delivery. Kickstarter has helped products get more traction online, and has served as an interim online e-commerce site for product sales while entrepreneurs are setting up a permanent place to market their value proposition.

Most people use GoFundMe as a social cause donation site. For many individuals and groups needing only a few thousand dollars of funding for a personal project, GoFundMe has become the crowdfunding platform of choice. From setting up and taking donations for a funeral, to sponsoring a local sports team which is trying to obtain funding so they can travel to an event, GoFundMe has provided millions of individuals and non-profits the ability to quickly gather up a few extra dollars in a time of need.

So what are some of the most effective practices for marketing your crowdfund project? When marketing to potential funders, social media has become the mainstay platform to inform your audience of close friends and connections about your cause or value proposition. Facebook gives you an opportunity to spread the word to your friends, family, and extended connections. To get a better reach of your program, you can ask and encourage your network to share your post, and provide feedback about the reason why they chose to help your campaign. If you desire to connect with professionals in a specific industry, Linked-in provides the ability to syndicate and share your post with people from several related market segments. You can also promote your campaign through Twitter and Instagram, redirecting raving fans to your campaign page.

So what will donors get for their money? A donor should have the ability to choose perks in return for their donation, especially if the campaign is not solely philanthropic. “Perks” are the benefits that an individual can expect in return for the donation. The more creativeness and value you can squeeze into each perk package, the more you can request per perk level. By adding in a free copy of a book or promotional materials, you can provide additional added value for your donors. “Perks” are generally pre-orders for the specific market product you desire to launch. You can, however, provide add-ons for each level of donation.

Two methods you can employ for increasing how many people see your perks are:  1) holding a contest for most shares of your post with friends on social media, and 2) asking people that are not in a position to contribute to your campaign to help by spreading the message about your campaign story with people they feel would be interested in your project.

Having a few endorsements either by written or video testimonial will provide additional credibility to your offering. You can ask satisfied customers to give testimonials, or, if you know a celebrity, sports figure, or public figure, you can ask them to share a few words about your project, edifying the project and the product.

Lastly, you must monitor your results on a daily basis and make campaign adjustments accordingly. Having the ability to tweak your project’s campaign as you obtain feedback from donors will help you make changes to your campaign and provide updates that may increase traffic to your campaign’s page. Most crowdfunding campaigns can extend as long as 60 days, thus giving you time every few weeks to add to your campaign content and promote it online.

Samuel K. Burlum is an Investigative Reporter who authors articles related to economic development, innovation, green technology, business strategy, and public policy concerns. Samuel K. Burlum is also a career entrepreneur, who currently  lends his expertise as a Consultant firm to start-up companies, small businesses, and mid-size enterprises, providing advisement in several areas including strategic business planning, business development, supply chain management, and systems integration. He is also author of “The Race to Protect Our Most Important Natural Resource-Water,” and “Main Street Survival Guide for Small Businesses.”

Memory Care Units Focuses on Some of the Most Painful Concerns

Sam-Burlum-logo3 (2) ResizedWritten by, Samuel K. Burlum, Investigative Reporter and author, Published on 4/22/2018, www.SamBurlum.com Exclusive

Tags: Assisted Living, Baby Boomers, Golden Years, Health Care Facilities, Long Term Care, Quality of Life, Senior Health Care

Source: New facilities specializing in memory care are being designed to handle some of the most complicated mental health senior care concerns. These new designs focus their efforts on therapeutic modalities and facilities that aim at assisting senior residents cope with Alzheimer’s and dementia, loss of memory from an accident or injury, and other concerns that effect one’s mental well-being in their senior years.

Memory care facilities are assisted living facilities specially designed to care for individuals that have degrading mental awareness. Two of the most common memory loss diagnoses are Alzheimer’s and dementia. Alzheimer’s is a chronic disease where an individual’s mind will begin to lose short term memory of recent events, people’s names and dates. As the disease progresses, the individual will begin to have changes in behavior and mood, problems with language and disorientation, loss of motivation, and other slowing patterns.

In many cases, the individual is initially aware of their condition, and out of frustration, will slowly alienate family and care givers. Even care givers find it difficult to administer care to a person with Alzheimer’s, due to the continued behavioral changes and out lashes that the patient displays. Once Alzheimer’s is in its final phases, the body begins to shut down and fails to function as it should, leading to the individual passing. Care for an individual with Alzheimer’s takes a special provider that has plenty of patience as well as the ability to not be easily offended.

Senior elder persons with dementia suffer from and experience many of the same symptoms as folks with Alzheimer’s do. However, there are a few major differences between the two diseases. Dementia is considered a neurocognitive disorder that speeds up the aging process and affects the body more so than other mental disorders and illnesses. People with dementia are usually either chemically or physically restricted so they are not a danger to themselves or others around them. Human rights groups advocate that individuals with dementia should not be restrained, stating they need additional specialized care, including the use of alternative modalities and therapies, as well as individual in activities that are constructive, giving the person a sense of daily purpose.

Memory care services also provide on campus services in conjunction with rehabilitation centers for head injuries where blunt trauma has caused a person to lose their short-term memory.  This care focuses on helping the patient restore their short-term memory along with the individual’s physical health.

Memory care facilities offer around the clock supervised care. The floor plans of these facilities are designed to cater to someone with a memory care concern. They include easy to find central service areas such as a dining hall and activity centers. There are additional security measures at a memory care unit so patients cannot just wander off on their own outside the center’s grounds and limits the risk the patient may be to themselves or others. A memory care facility will usually have additional therapy rooms and places on campus designed to be therapeutic. They may even have a central court yard so residents can spend time outside without leaving the environment and security of the memory care unit.

Assisted living centers that include memory care are changing the model for senior health care in the industry. Memory care units that are added to either a traditional assisted living center or are integrated into the design of a new assisted living facility provide an advantage for senior health care facilities. These duel service centers help families with the continuity of care. If a loved one needs additional care services for memory care, the patient is transferred just down the hall or to a neighboring building. Knowing the same staff will be continuing to serve their loved one’s needs without having to move them to an entirely different facility provides tremendous reassurance during a vulnerable time. A family can count on maintaining the same relationship with the same senior health care provider; eliminating the doubt one would have about having to deal with a new staff or administrator.

Samuel K. Burlum is an investigative reporter who authors articles related to economic development, innovation, green technology, business strategy, and public policy concerns. Burlum is also a career entrepreneur who lends his expertise as a consultant to start-up companies, small businesses, and mid-size enterprises, providing advisement in several areas including strategic business planning, business development, supply chain management, and systems integration. He is also author of The Race to Protect Our Most Important Natural Resource-Water, Main Street Survival Guide for Small Businesses, and Life in the Green Lane-in Pursuit of the American Dream.

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