My company, http://www.californiabusinessresource.com offers free business advice to budding entrepreneurs. We have lots of articles that we are constantly submitting to our site, and it causes us a lot of work. We like to use Virtual Assistants to do this work.
It didn’t take very long to notice that it would be excellent if we could have some of our V.A.s answer incoming phone calls, as well as make outbound calls to our existing clients. So we started on the search for a Virtual PBX system.
Not too long ago, it was the traditional PBX system used all around the world by businesses big or small. The traditional PBX systems or phone booth exchange systems as they were popularly called had the limitation of providing service to one location and all the employees had to be in one location to access it for attending calls, and checking voicemails. Moreover, they were costly in terms of money and effort. But this all changed with the innovation of VoIP that lead to the creation of new virtual PBX systems. These systems have changed the way businesses communicate and manage their employees. They are based on voice over internet protocol technology or VoIP that uses the internet to send and receive calls.
Some Virtual PBX systems offer all the services just like the traditional PBX systems and many more with greatly reduced cost and effort. Some don’t. You need to research your PBX before spending the time and/or money to test it. For example, most virtual PBX programs are glorified answering machines. They allow the client to call in, push a few buttons to get connected to either you or your message, but they do not allow live transfers once you have accepted the call. My business absolutely requires that my employees can transfer a call to me if they determine that I need to talk to the client.
If you get the right system, these virtual systems have redefined the way work is done. The flurry of benefits include giving a professional feel to the client with auto attendants, presenting a big picture, interaction with the callers while you are on move by diverting calls, and a virtual presence…and all that at very affordable prices! Another very important advantage of virtual PBX systems is the geographical limitlessness.
Many small businesses hire a number of freelancers or remote employees to take care of their various operations so that they can use their tiny budget in the most effective way. Virtual PBX systems allow your business to have employees all over the world and despite of geographical distance, they can be connected through this single phone system as if they are sitting in the next cubicle. Calls can be directed to any phone, may it be landline, mobile phone like iPhone or a software phone on employee’s laptop. There is no need to invest in new phones; old ones can be used making it highly affordable. The facility of conference calling allows you to be in touch with your employees irrespective of their location.
Virtual PBX systems are loaded with many features. Call transferring, call distribution, call prioritization, voice mail, find me follow me call forwarding, fax, auto attendants, all get together to make handing of virtual employees much easier and profitable for your business. Call auto attendants eliminate the need of real receptionists and handle the customers with professional messages and customized menus. Calls are redirected at the appropriate place with find me follow me call forwarding to the appropriate employee even if he or she is actually residing half way down the globe. There are many virtual PBX systems available in the market. OnSIP by junction networks, AccessDirect USA, Halloo, Axon and Grasshopper are among the most popular on the VoIP communication scene. Halloo is a personal favorite of many entrepreneurs because it provides real time transfers and works as a perfect system for call centers. Many will allow you to transfer your existing toll free numbers without any extra charge.
Virtual PBX systems provide a very cost effective way to communicate and to use virtual employees no matter where they are. The productivity enhancing features save your money and time. Virtual PBX systems with timely upgrades and good support system reduce the expenses to a great extent and allow you to concentrate more on your business.
For more information that can assist your business, please go to www.californiabusinessresource.com
Friday, November 13, 2009
Tuesday, November 10, 2009
San Diego Tech Coast Angels 2009 Quick Pitch
From Guest Blogger, John Watson:
Angel investing isn’t just about money. It is also about mentoring, strategic advice,
providing connections to customers and sources of capital. The Tech Coast Angels
(TCA) are helping to fuel the growth of the most innovative companies and
entrepreneurs in southern California. TCA’s 280+ members invest time, expertise and
capital to help companies grow and succeed. Companies benefit from working with a
group of seasoned, well-connected advisors. That’s why TCA is the largest angel
network in the U.S. and the number one source of startup funding in southern California.
TCA has five networks in Los Angeles, Orange County, San Diego, Santa Barbara and the Inland Empire.
An important part of the TCA outreach program to entrepreneurs, company founders
and emerging companies is the annual Quick Pitch event. Entrepreneurs are invited [at
no cost to their companies], to compete in a one hour competition with 15 or more
companies for three prizes before a panel of expert judges, in front of an audience
composed of Venture Capitalists, Bankers, Accountants, Lawyers, CEO’s other
entrepreneurs and TCA members. Prior to the Competition on October 8th each
company worked diligently with the coaches and mentors from TCA – so that they could
professionally present their companies.
From over 150 applications received [12 were Life Science, the remainder were in High-tech, CleanTech and other business sectors]; through screening and interviews a total of 17 emerging high tech (11), and six (6) life science companies were selected to compete, each company received two (2) minutes to Pitch or present their company to the five Judges and the audience of ~300 people. The Judges then had two minutes to adjudicate their individual performance in two areas:
1. Content: Is this a fundable deal; did you want to hear more etc.
2. Style: Did they capture your attention; was it persuasive and informative?
Each company was scored 1-10 by each judge for each category – supportive suggestions were allowed; of the 17 competitors the Overall winner and runner-up were Biotech and Diagnostic companies.
2009 Overall Winner: Roberta A. Gottlieb, President and CEO of Radical Therapeutix, Inc.
Best Content Winner: Mark Bowles, CEO, ecoATM – http://www.remobileinc.com
Best Style Winner: Raj Krishnan, CEO, Biological Dynamics, Inc. - http://biologicaldynamics.com
The Overall Winner (based upon the total points awarded), was immediately entered into the TCA funding process; with no pre-screening requirements. The 2008 Winner obtained their initial funding from TCA via this process. The two “runner-up” categories were immediately eligible to file an application for funding pre-screening.
John Watson is a Tech Coast Angel member. Tech Coast Angels helps fund companies in the High Tech and Bio Tech areas. For more information about Tech Coast Angels, please go to their website at http://www.techcoastangels.com
For more Business Resources go to http://www.californiabusinessresource.com and sign up for the newsletter.
Angel investing isn’t just about money. It is also about mentoring, strategic advice,
providing connections to customers and sources of capital. The Tech Coast Angels
(TCA) are helping to fuel the growth of the most innovative companies and
entrepreneurs in southern California. TCA’s 280+ members invest time, expertise and
capital to help companies grow and succeed. Companies benefit from working with a
group of seasoned, well-connected advisors. That’s why TCA is the largest angel
network in the U.S. and the number one source of startup funding in southern California.
TCA has five networks in Los Angeles, Orange County, San Diego, Santa Barbara and the Inland Empire.
An important part of the TCA outreach program to entrepreneurs, company founders
and emerging companies is the annual Quick Pitch event. Entrepreneurs are invited [at
no cost to their companies], to compete in a one hour competition with 15 or more
companies for three prizes before a panel of expert judges, in front of an audience
composed of Venture Capitalists, Bankers, Accountants, Lawyers, CEO’s other
entrepreneurs and TCA members. Prior to the Competition on October 8th each
company worked diligently with the coaches and mentors from TCA – so that they could
professionally present their companies.
From over 150 applications received [12 were Life Science, the remainder were in High-tech, CleanTech and other business sectors]; through screening and interviews a total of 17 emerging high tech (11), and six (6) life science companies were selected to compete, each company received two (2) minutes to Pitch or present their company to the five Judges and the audience of ~300 people. The Judges then had two minutes to adjudicate their individual performance in two areas:
1. Content: Is this a fundable deal; did you want to hear more etc.
2. Style: Did they capture your attention; was it persuasive and informative?
Each company was scored 1-10 by each judge for each category – supportive suggestions were allowed; of the 17 competitors the Overall winner and runner-up were Biotech and Diagnostic companies.
2009 Overall Winner: Roberta A. Gottlieb, President and CEO of Radical Therapeutix, Inc.
Best Content Winner: Mark Bowles, CEO, ecoATM – http://www.remobileinc.com
Best Style Winner: Raj Krishnan, CEO, Biological Dynamics, Inc. - http://biologicaldynamics.com
The Overall Winner (based upon the total points awarded), was immediately entered into the TCA funding process; with no pre-screening requirements. The 2008 Winner obtained their initial funding from TCA via this process. The two “runner-up” categories were immediately eligible to file an application for funding pre-screening.
John Watson is a Tech Coast Angel member. Tech Coast Angels helps fund companies in the High Tech and Bio Tech areas. For more information about Tech Coast Angels, please go to their website at http://www.techcoastangels.com
For more Business Resources go to http://www.californiabusinessresource.com and sign up for the newsletter.
Friday, October 16, 2009
Winning Federal Contracts: A guide for women Entreprenuers
The SBA just launched a new online course for women to help them navigate through the contracting process.
You can access the course here: http://www.sba.gov/fedcontractingtraining/
Now women who own small businesses will be able to use the new online training course to learn how to find and win federal contracting opportunities.
The program is part of an ongoing government-wide initiative to promote opportunities for women-owned businesses in the area of government contracting.
The tuturial walks her through the the contracting process, and is free of charge. She does have to complete a short questionnaire before logging onto the tutorial.
"The SBA is committed to ensuring that women-owned businesses receive at least 5 percent of federal contracts and believes better training opportunities are central to meeting this government-wide goal." reads the press release, dated October 14th, 2009.
The course is designed to help women business owners learn about the federal procurement process and to prepare them to compete for contracting opportunities. The tutorial uses audio and script to provide information about contract rules, how to sell to the government and where to find contracts.
If you haven't taken a look at this it's worth the read.
What do you think?
You can access the course here: http://www.sba.gov/fedcontractingtraining/
Now women who own small businesses will be able to use the new online training course to learn how to find and win federal contracting opportunities.
The program is part of an ongoing government-wide initiative to promote opportunities for women-owned businesses in the area of government contracting.
The tuturial walks her through the the contracting process, and is free of charge. She does have to complete a short questionnaire before logging onto the tutorial.
"The SBA is committed to ensuring that women-owned businesses receive at least 5 percent of federal contracts and believes better training opportunities are central to meeting this government-wide goal." reads the press release, dated October 14th, 2009.
The course is designed to help women business owners learn about the federal procurement process and to prepare them to compete for contracting opportunities. The tutorial uses audio and script to provide information about contract rules, how to sell to the government and where to find contracts.
If you haven't taken a look at this it's worth the read.
What do you think?
Friday, October 2, 2009
Tradeshows--Making the best use of your time
I read a blog post written by Andrew Brown regarding Trade Shows. I thought that he did have some good things to say and I'll summarize them here:
1) Set clear goals for your participation. I agree with Andrew about this point. Many businesses go to trade shows and they have no idea what their ROI is on the show. Personally, when I've gone to trade shows in the past, it has been to meet new clients or to obtain new information if it's in my own industry. If you go to meet new clients, be sure to follow up with each lead within a week of returning home. If you don't do this, then the money you spent was wasted. If you go to obtain new ideas, then be sure to bring your notebook with you and jot things down before you forget. Many times trade shows are so big that you will forget much of what you've seen.
2) Do your research. This is especially true if you are going to a trade show to meet new clients. Be sure that your demographic is actually there. For example, if you target business owners, you wouldn't want to go to a show where only HR directors attend.
3) Bring a customer. What a great idea! I've actually never brought a customer along to a trade show because I think that most of my customers would find the trade shows for my industry boring. However, the next trade show I go to to attract customers, if I have a customer who would like to target the same audience, I may bring him/her along.
4) Take copious notes. Andrew states: "If you do decide to attend a trade show or seminar, then we suggest you become a sponge. Have your notebook handy at all times – this is your classroom. How are exhibitors and competitors describing and promoting their products? If you’re in a seminar, make sure that you’re recording down the key points of the session. Take time during the breaks to network with other participants and even the instructor – find out what has made them succeed, what is keeping them up at night and write it down. It’s an educational haven." I agree.
5) Use it as a research experiment. Andrew recommends that you attend the trade show you are looking at exhibiting at before paying the money for your booth. I can't agree more. I've done this in the past, and it has saved me money when I realized that the show I was planning on sponsoring didn't fit my needs for one reason or another.
Andrew had some very good points, and you can follow him at http://www.small-business-guru.com
What do you think?
1) Set clear goals for your participation. I agree with Andrew about this point. Many businesses go to trade shows and they have no idea what their ROI is on the show. Personally, when I've gone to trade shows in the past, it has been to meet new clients or to obtain new information if it's in my own industry. If you go to meet new clients, be sure to follow up with each lead within a week of returning home. If you don't do this, then the money you spent was wasted. If you go to obtain new ideas, then be sure to bring your notebook with you and jot things down before you forget. Many times trade shows are so big that you will forget much of what you've seen.
2) Do your research. This is especially true if you are going to a trade show to meet new clients. Be sure that your demographic is actually there. For example, if you target business owners, you wouldn't want to go to a show where only HR directors attend.
3) Bring a customer. What a great idea! I've actually never brought a customer along to a trade show because I think that most of my customers would find the trade shows for my industry boring. However, the next trade show I go to to attract customers, if I have a customer who would like to target the same audience, I may bring him/her along.
4) Take copious notes. Andrew states: "If you do decide to attend a trade show or seminar, then we suggest you become a sponge. Have your notebook handy at all times – this is your classroom. How are exhibitors and competitors describing and promoting their products? If you’re in a seminar, make sure that you’re recording down the key points of the session. Take time during the breaks to network with other participants and even the instructor – find out what has made them succeed, what is keeping them up at night and write it down. It’s an educational haven." I agree.
5) Use it as a research experiment. Andrew recommends that you attend the trade show you are looking at exhibiting at before paying the money for your booth. I can't agree more. I've done this in the past, and it has saved me money when I realized that the show I was planning on sponsoring didn't fit my needs for one reason or another.
Andrew had some very good points, and you can follow him at http://www.small-business-guru.com
What do you think?
Tuesday, September 8, 2009
Non Profits- How to get the word out
I read a Blog post put out by David Oats, who runs a Pay on Performance PR firm.
To read the article, click here: http://payonperformance.ning.com/profiles/blogs/memo-to-nonprofits-pr-is
Basically what he advises is:
1. Become a Speaker
2. Use Social Media
3. Use a Pay on Performance PR Firm, never a retainer firm
Of course all of these are great advise to regular businesses. When you become a speaker for local groups such as the Chamber of Commerce, SCORE, and trade organizations, you build credibility for yourself and your firm. Many groups are in great need of speakers, and if you can get yourself connected with one or two, your speaking engagements will grow.
One OBVIOUS caveat though: I was at a presentation a few weeks ago where the speaker was not well prepared and was wearing very casual clothes. Need I go on? Your goal when doing presentations is to promote your business. Make sure you come across as someone knowledgable in your field. If you need help with presentation skills, most cities have a local chapter of Toastmasters. If your city doesn't, try the local community college. The main thing is to get in front of strangers, do a lot of presentations, and get good quality feedback. Most of your friends won't give you good feedback because they don't want to hurt your feelings.
If you are reading this blog, most likely you are already using social media like Facebook, Twitter, and Linkedin. Most likeley you also have your own blog. Posting comments on other people's blogs and providing a link to your own (as long as it's relevant) is a good way to get increased traffic to your blog. You may even be asked to write a guest column every now and then!
To read the article, click here: http://payonperformance.ning.com/profiles/blogs/memo-to-nonprofits-pr-is
Basically what he advises is:
1. Become a Speaker
2. Use Social Media
3. Use a Pay on Performance PR Firm, never a retainer firm
Of course all of these are great advise to regular businesses. When you become a speaker for local groups such as the Chamber of Commerce, SCORE, and trade organizations, you build credibility for yourself and your firm. Many groups are in great need of speakers, and if you can get yourself connected with one or two, your speaking engagements will grow.
One OBVIOUS caveat though: I was at a presentation a few weeks ago where the speaker was not well prepared and was wearing very casual clothes. Need I go on? Your goal when doing presentations is to promote your business. Make sure you come across as someone knowledgable in your field. If you need help with presentation skills, most cities have a local chapter of Toastmasters. If your city doesn't, try the local community college. The main thing is to get in front of strangers, do a lot of presentations, and get good quality feedback. Most of your friends won't give you good feedback because they don't want to hurt your feelings.
If you are reading this blog, most likely you are already using social media like Facebook, Twitter, and Linkedin. Most likeley you also have your own blog. Posting comments on other people's blogs and providing a link to your own (as long as it's relevant) is a good way to get increased traffic to your blog. You may even be asked to write a guest column every now and then!
Tuesday, September 1, 2009
Thoughts on the 7 most Over Rated Business Ideas
Today I was forwarded this article that discusses the 7 most overrated businesses. http://smallbusinessanswers.yahoo.com/overrated
Here are my comments:
1. The first on the list is Restaurants. I tend to agree with this one. As a SCORE business consultant, I tend to see a lot of start up restaurant owners in our seminars. People tend to think that opening a restaurnt will be an easy way of leaving their current job and becoming an entreprenuer. What they don't tend to do is research. Who are the competitors? Why will someone want to go to your restaurant and not another...or just stay home for that matter? A fantastic marketing plan is key, especially when you are entering the Restaurant market. After all, 60% of these types of businesses fail in the first 3 years. That's a pretty high risk margin.
2. The second, Direct Sales, could have been more aptly named Multi Level Marketing. If the person who is getting you into the business is going to be getting a cut on you, plus who you recruit, think twice. Are the products going to be priced where the consumer can't just go down the street and buy a similar product for half the cost? In today's tough economic times keep this in mind. Consumers are smart. They know that a "party" that has XXX in front of it means that they are going to have to shell out some money--Normally a lot more money than they would have to pay at their local mall. Some people do well in this type of business, but the majority just give up after a few months because they aren't cut out to recruit their friends to sell products themselves. Although, one of the benefits to this type of business is that you do not need to keep high quantities of inventory, you normally do have some inventory costs. When going into this type of business, be sure to find out what your out of pocket costs are going to be up front.
3. Online Retail. This might have been fantastic 5 years ago, but before delving into this type of business today, you are going to have to have a marketing plan, and a marketing budget. I agree that you can't just put a website up today and think that your market will find you. Also, most people who go online today are shopping price. If you can't compete with prices from around the globe, you may not do well in this marketplace. Just make sure that if you do start an online store, that you have a well laid plan to get eyeballs to your site.
4. High End Retail. My husband and I walked into a lighting store a few weeks ago and we couldn't believe the prices. We were shopping for some lamps to put on our desks, but I would also like to get a new chandelier for our dining room. We went to four or five places before we stopped in to this VERY high end store. I couldn't believe the price differential. You could tell that the quality was better, but to be honest, I didn't think that it was 10 times better. Today's consumer, no matter how wealthy, is looking for a deal. It is also very difficult to keep your inventory costs under control in these types of stores. One of the biggest mistakes that business owners make is to have too much inventory. If you start a business like this, make sure that you keep a close watch on your inventory.
5. Independent Consulting. Although I have not seen a huge volume of this type of business coming through the SCORE doors, I do know lots of people who are in this business. The great thing about becoming a consultant is that there are very little start up costs. Many people just go to the local printer and print up some cards, and now they are a consultant. However, one of the main issues here is clients. How are you going to get your clients? This is something that many consultants do not consider. Not only do you have to be good at what you do, but you have to be excellent at marketing and sales. Be sure to think this through before embarking on a consulting business.
6. Franchises. I agree that just because you are buying a franchise, you are not guaranteed a profit. Make sure you work with someone who is an expert in this area. Read the information before you sign the paperwork. Have an attorney with franchise expertise look it over to point out any areas of concern. Talk to existing franchise owners and LISTEN to what they have to say. Take a look at their marketing plan and find out what assistance they will be giving you versus what you will have to do yourself. Ask questions. Why should you go with their franchise versus setting up a similar business on your own?
7. Traffic Driven Web Sites: Being in San Diego where we have a lot of high tech businesses here, I have listened to a lot of pitches about the next best Facebook or the next best this or that. Yes, the internet has spawned some fantastic websites (like Blogger) and you can make a lot of money. You will need to have an excellent idea and get yourself in front of some Venture Capitalists. Listen to what they say. This type of business is difficult to get off the ground, but if you have an idea that is good, chances are if you get in front of enough VCs you can make your case. You will have a long road ahead of you, but if you have the right idea it can pay off.
As with any business, the main thing that you should do before starting a business is to have a good marketing and business plan. You can obtain assistance with this by visiting your local SCORE office or by obtaining the services of a good business consultant who has experience in the business that you would like to start.
Here are my comments:
1. The first on the list is Restaurants. I tend to agree with this one. As a SCORE business consultant, I tend to see a lot of start up restaurant owners in our seminars. People tend to think that opening a restaurnt will be an easy way of leaving their current job and becoming an entreprenuer. What they don't tend to do is research. Who are the competitors? Why will someone want to go to your restaurant and not another...or just stay home for that matter? A fantastic marketing plan is key, especially when you are entering the Restaurant market. After all, 60% of these types of businesses fail in the first 3 years. That's a pretty high risk margin.
2. The second, Direct Sales, could have been more aptly named Multi Level Marketing. If the person who is getting you into the business is going to be getting a cut on you, plus who you recruit, think twice. Are the products going to be priced where the consumer can't just go down the street and buy a similar product for half the cost? In today's tough economic times keep this in mind. Consumers are smart. They know that a "party" that has XXX in front of it means that they are going to have to shell out some money--Normally a lot more money than they would have to pay at their local mall. Some people do well in this type of business, but the majority just give up after a few months because they aren't cut out to recruit their friends to sell products themselves. Although, one of the benefits to this type of business is that you do not need to keep high quantities of inventory, you normally do have some inventory costs. When going into this type of business, be sure to find out what your out of pocket costs are going to be up front.
3. Online Retail. This might have been fantastic 5 years ago, but before delving into this type of business today, you are going to have to have a marketing plan, and a marketing budget. I agree that you can't just put a website up today and think that your market will find you. Also, most people who go online today are shopping price. If you can't compete with prices from around the globe, you may not do well in this marketplace. Just make sure that if you do start an online store, that you have a well laid plan to get eyeballs to your site.
4. High End Retail. My husband and I walked into a lighting store a few weeks ago and we couldn't believe the prices. We were shopping for some lamps to put on our desks, but I would also like to get a new chandelier for our dining room. We went to four or five places before we stopped in to this VERY high end store. I couldn't believe the price differential. You could tell that the quality was better, but to be honest, I didn't think that it was 10 times better. Today's consumer, no matter how wealthy, is looking for a deal. It is also very difficult to keep your inventory costs under control in these types of stores. One of the biggest mistakes that business owners make is to have too much inventory. If you start a business like this, make sure that you keep a close watch on your inventory.
5. Independent Consulting. Although I have not seen a huge volume of this type of business coming through the SCORE doors, I do know lots of people who are in this business. The great thing about becoming a consultant is that there are very little start up costs. Many people just go to the local printer and print up some cards, and now they are a consultant. However, one of the main issues here is clients. How are you going to get your clients? This is something that many consultants do not consider. Not only do you have to be good at what you do, but you have to be excellent at marketing and sales. Be sure to think this through before embarking on a consulting business.
6. Franchises. I agree that just because you are buying a franchise, you are not guaranteed a profit. Make sure you work with someone who is an expert in this area. Read the information before you sign the paperwork. Have an attorney with franchise expertise look it over to point out any areas of concern. Talk to existing franchise owners and LISTEN to what they have to say. Take a look at their marketing plan and find out what assistance they will be giving you versus what you will have to do yourself. Ask questions. Why should you go with their franchise versus setting up a similar business on your own?
7. Traffic Driven Web Sites: Being in San Diego where we have a lot of high tech businesses here, I have listened to a lot of pitches about the next best Facebook or the next best this or that. Yes, the internet has spawned some fantastic websites (like Blogger) and you can make a lot of money. You will need to have an excellent idea and get yourself in front of some Venture Capitalists. Listen to what they say. This type of business is difficult to get off the ground, but if you have an idea that is good, chances are if you get in front of enough VCs you can make your case. You will have a long road ahead of you, but if you have the right idea it can pay off.
As with any business, the main thing that you should do before starting a business is to have a good marketing and business plan. You can obtain assistance with this by visiting your local SCORE office or by obtaining the services of a good business consultant who has experience in the business that you would like to start.
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