New York SBDC Research Network

1. Time is more valuable than money. In essence, there are only three things we can spend in life: money, time and energy. The biggest caveat, however, is only money can be earned. The rest are just plainly lost in the process. That’s why it’s so important to be more stingy with your time than your money. You will need to say no more than you say yes. Most people think, in order to be productive, they should work tons of hours each week. But studies have shown that 35 is the special number. If you’re only working 35 hours a week, it’s hard to make time for office chat and wasted meetings. It’s important to avoid time sucks and to spend your time in the office focused on your priorities. Some of the most serial time-wasters are people who take bits and pieces of your time, which is quite significant in total once you add everything together. Some want to have incessant meetings with you, some want you to speak at their event and some just want your take on anything and everythi...

Set up the basics Create a logo you love and a description that clearly, powerfully and simply explains what you're going to do. Include an email for people to contact. Then, create a landing site that briefly explains what is "coming soon" and a place to capture emails. We used Launchrock, which took under 10 minutes to set up. Plan your content You're going to need lots of quality content that reflects your brand. It's important to create a look that people will recognize as your own. Keeping this in mind in the beginning will also make it a lot simpler to decide what to post. We wanted to feature moms with their kids and share their stories. Now this is what people expect when they come to our feed. Be mindful of the fact that Instagram is a photography driven platform and images need to be clear, beautiful and interesting. Remember that timing matters To ensure you are posting at the best time of day for your market and reaching as many people as you can,...

“Mother always knows best.” We’ve all heard this saying before. Whether she’s kissing a boo-boo or fixing up a meal that just hits the spot, Mom always seems to know the right thing to do in any given situation. So, it’s no surprise Mom’s advice could actually apply elsewhere. Here are five pearls of wisdom worth listening to while dealing with business: 1. Money doesn’t grow on trees. If it did, you wouldn’t need to be in business in the first place. Since you’ll have to work and earn every dollar you make, treat that money with respect. Remember the feeling you had when you made your first sale? Hold on to that. If you lose sight of the value of your money, you’ll find your business starting to spiral out of control. An easy way to save up is to set a budget in advance and stick to it. Even if you have an unexpectedly good month, by resisting the urge to spend (or reinvest) it all right away, you’ll be better prepared to ride out future bumps in the road. 2. If everyone jumped...

What is one thing that is absolutely essential for running your business? 1. Taking input from your employees Your employees are your greatest resource. They see a side of the business that you might miss. They are around your product day in and day out, and might have a great idea for its improvement. So, are you taking advantage of this resource—or taking it for granted? Mark Daoust of Quiet Light Brokerage, Inc., says that his employee input is “the most valuable asset” he has in his company. “Even though I am 100 percent owner of my company, I don’t make any significant decisions without consulting multiple people within my company,” he says. He adds: “They see the business from a completely different perspective, which I simply can’t get.” 2. Scheduling time for your personal life When you’re starting out, it makes sense that your personal life takes a back seat. In that mad rush to get your business up and running, you might have slacked when it came to time with friend...

I’ll admit that before we started PrestoBox, the best designs I created were colorful Excel graphs in Powerpoint. So non-Millennial. But today, everything has changed. We founded PrestoBox with the belief that good design—combined with technology—could create powerful results. And it does. Over the last few years, I’ve had the good fortune of working with some of the best designers in the country. The creativity that flows from these genius types is fun to experience. However, that’s not me—nor is it a skill of most small business owners. That being said, I’ve picked up a few tips and tricks that have made my life much easier. We still hire the big-gun designers for major initiatives (totally worth it), but I can get far with these simple design tools—and you can, too. Read more at: Bplans

Why “startup” marketing strategy, instead of just marketing strategy? Good question. The difference is that the startup has to aim more carefully. There are fewer resources and less room for error. The concepts are similar, but you aim for the bullseye, not just the target. It’s not just about the typical startup having fewer resources. It’s also about the likelihood that the startup needs to show the best results quickly, the more traction the better, because it’s inherently riskier in its first struggling phase. Go for the low-hanging fruit. So, the fundamentals still apply. Read more at Bplans

Your logo says a lot about your brand. Are you sending the right message? Across the U.S. and around the world, billions are spent each year by companies trying to build a brand people can't resist. One critical element in brand building (not the only one, of course but one of the most important) is design. As noted by Harvard Business Review, the convergence of brand and design are more important today than ever before. You don't have to look any further than the likes of Apple and Tesla for proof. From Fortune 500 companies to personal brands, it all starts with a logo. Would the Nike brand be as powerful without its signature "Swoosh" logo? What about Apple, with its iconic logo? Size, shape, font, and other design-related details are factors in a great brand design, but color is critical--it even has the potential to affect conversion rate. See, certain colors generate certain feelings; choosing the wrong one can speak to your potential customers in ways you ...