New York SBDC Research Network

Each year the  New York Small Business Development Center  recognizes outstanding small businesses in a variety of ways.  This Success Story from the   Manhattan SBDC  appears in our  2016 Annual Report . Jessica Schreiber   FABSCRAP Manhattan SBDC FABSCRAP, a 501(c)3, was founded by Jessica Schreiber, a self-described “trash nerd” who previously managed the NYC Department of Sanitation’s e-waste and clothing recycling contracts, and earned a Master’s degree in Climate and Society from Columbia University. Jessica recognized that fabric and other textiles made up a significant percentage of the waste stream. She developed a business model through which FABSCRAP charges a modest service charge to cover operational costs associated with picking up the textile waste and redistributing it for reuse. Jessica sought advice from the SBDC about how to grow as well and how to monetize the environmental, financial and public relations benefits her small business offers, as well as what

Obtained from:   MarketingProfs  IT buyers tend to research products/services across a wide range of online channels, prefer to be contacted by vendors via email, and favor firms with excellent customer support, according to recent research from Spiceworks.  The top factors that drive whether IT buyers will respond to a new sales/marketing outreach effort are the relevance of the product/service and the inclusion of detailed pricing information in the message. IT buyers say the top factors that drive their brand loyalty to vendors are great customer support, consistently fair pricing, and a history of reliable products/services.

Obtained from: eMarketer It’s been called a fad, a bubble, a waste of money. But influencer marketing will remain immensely popular in 2018, and it’s important to put the discussion of disclosure in the context of just how important the tactic has become—not just for the usual suspects (marketers of fashion, beauty and gaming products) but increasingly for marketers in other categories. Marketers and influencers that don’t disclose put themselves at risk for Federal Trade Commission (FTC) scrutiny and consumer backlash, both of which are rising.

Obtained from: SBA U.S Small Business Administration Administrator Linda McMahon announced the appointment of Steve Bulger as the SBA Regional Administrator for Region II, the area that encompasses New York, New Jersey, Puerto Rico and the U.S. Virgin Islands.   According to McMahon, Bulger will be responsible for managing and overseeing the agency’s lending, economic development and procurement programs over five district and six branch offices. Combined, these offices total 64 employees and assist nearly 3 million small businesses employing over 6 million workers in Region II. SBA has 10 regions covering the United States and U.S. territories. These offices, which are managed by politically appointed administrators, play a part in supervising the 68 district offices and promoting the President’s and SBA Administrator’s policies, messages and priorities throughout the region. “I am very pleased that Steve is in place to help support me and the President in serving

From eMarketer : Using location data has helped many retailers target their marketing and advertising more precisely to better reach consumers. But new data finds there are several inhibitors keeping US retailers from taking advantage of location-based analytics. The study, from Retail Systems Research (RSR), found that roughly half (47%) of retailers surveyed said concerns about the "creepiness" factor in tracking consumers was one of the top barriers to using location-based analytics. And there's also the issue of privacy.

From eMarketer : Consumers across the globe are warming up to proximity mobile payments. In 2018, for the first time, more than one-third (34.9%) of smartphone users ages 14 and older will use a mobile phone to pay for a purchase at a physical point of sale (POS) at least once every six months... Overall, most proximity mobile payment user growth worldwide will be driven by the expansion of the big three global providers—Android Pay, Apple Pay and Samsung Pay—as well as Alipay and WeChat Pay. Growing retailer acceptance of mobile payments and spreading smartphone usage will also fuel growth.

Each year the  New York Small Business Development Center  recognizes outstanding small businesses in a variety of ways.  This Success Story from the   Oswego Satelitte SBDC  appears in our  2016 Annual Report .  Debora Backus   Deb's Hash and Mash Oswego Satellite SBDC Debora Backus had been looking at a closed diner for months and determined that the location was sufficient to warrant re-opening. She had business experience, but did not have any restaurant experience, so she hired an experienced chef who was interested in working with her to re-open the diner. Under Debora’s management and utilizing her marketing skills, she tied together the menu, décor, atmosphere, and logo to develop her brand. Debora was referred to SBDC Advisor John Halleron by Operation Oswego County, a local development agency. They met to discuss the business plan needed for the purchase and establishment of the diner in the town of Volney. Debora prepared a draft, which was reviewed by John. Ba

From MarketingProfs In the world of marketing, there's a misperception that B2B marketing is serious and logical and that B2C marketing is fun and creative. Though B2B marketers may need a deeper understanding of technology and they may have more limits placed on their creativity, the role emotions play in both B2B and B2C marketing is strikingly similar. As neuroanatomist Dr. Jill Bolte Taylor puts it, "Most of us think of ourselves as thinking creatures that feel, but we are actually feeling creatures that think”. To gain a clearer understanding of the concept, I interviewed Jonathan Kahn, co-founder and creative marketing hacker at creative agency JM Consulting, and Michal Zarankin, head of digital marketing at in-app engagement platform Insert (recently acquired by Pendo), to learn their thoughts on the role of emotions in B2B marketing.

From Nav : Perhaps you’ve got a hot idea for a new business and decided it’s time to turn a dream into reality. Or you’ve given up on finding your dream job and decided to create your own. No matter what your motivation for launching your own business, the journey ahead is no doubt both exciting and scary. Where do you start? The first thing you’ll want to do is lay a solid foundation for your venture. Here’s a step-by-step list to get you started. While laying the groundwork for your business isn’t the most glamorous or fun part of getting started, it can significantly boost your chances of being successful.

  Obtained From: eMarketer Just 6% of firms are completely prepared for the European Union’s General Data Protection Regulation (GDPR), according to a November 2017 survey of IT professionals by data modeling company Erwin. The GDPR, which becomes enforceable in May, states that a consumer's data can only be used if they give a company explicit permission. Not being prepared for these new rules is a big risk, because companies that are found to be in violation of the GDPR face a fine of $24 million or 4% of annual sales, depending on which figure is higher. One of the reasons more companies aren’t prepared for the GDPR is because it is expensive to become compliant with the new laws. Half of the companies in a Forrester Consulting and Evidon survey spent more than $1 million to meet GDPR requirements. And nearly a fifth of companies allocated more than $5 million for GDPR prep. “Conducting a whole GDPR analysis on the companies you work with, and the companies that those

At the Federal Trade Commission’s request, a federal court has temporarily halted an operation that took more than $14 million from consumers seeking to start their own online business. The operation misrepresented that its purported business coaching program would enable consumers to earn substantial income, such as “six figures  in 90 days  or less.” According to the FTC,  the defendants induced consumers to pay  for a series of tiered memberships with increasing fees, falsely claiming that consumers would learn how to make substantial income with an online business. They promised consumers they would receive individualized coaching from successful marketers that would provide what they needed to build a successful business, but, in reality, these were merely salespeople selling higher membership levels in the defendants’ program. The defendants promoted their scheme via webpages and social media platforms, including Facebook and Instagram, and offered their marketing materials fo

From Coleman Report The White House’s FY 2019 proposed budget released [recently] supports $30 billion in SBA 7(a) funding. That is a 10% increase over anticipated $27 billion in loans for FY 2018. Given the Administrator’s newly granted ability to increase 7(a) by 10% if needed at the end of a fiscal year, there should be sufficient 7(a) loan supply to meet 7(a) loan demand. The White House is weighing in on the credit elsewhere rule saying: SBA fills a critical void in the market when economic shocks reduce traditional lending to small businesses and when the private market is unwilling to provide capital to credit-worthy borrowers. However, during prosperous economic times such as these, the Budget proposes that SBA introduce counter-cyclical policies to its business loan guarantee programs that enables it to maintain its operations while ensuring that it is not displacing direct private lending. Through an adjustment of fees across its business loan guarantee programs, SB

Each year the  New York Small Business Development Center  recognizes outstanding small businesses in a variety of ways.  This Success Story from the   Onondaga SBDC  appears in our  2016 Annual Report .  Jeremy Stedman   Quality Auto Care of Cazenovia Onondaga SBDC Jeremy Stedman was studying Automotive Technology at Morrisville State College when he got an internship at Quality Auto Care of Cazenovia. Owner Lyle Regan took Jeremy under his wing and eventually the internship turned into a permanent position. Lyle realized that Jeremy had something others did not - he was driven, had motivation, and had determination.  When Lyle decided to retire he offered to sell his successful business to Jeremy. After many of drafts of the business plan and financial projections with SBDC Advisor Melissa Zomro, Jeremy was ready to apply to a lender. He eventually found a private investor that loaned him the capital to purchase the business. He then made arrangements with the former owne

From eMarketer : Shopping on your mobile device isn’t always a smooth process. In fact, a new survey finds that many digital shoppers have a difficult time placing orders via mobile, resulting in an abandoned cart. A study from Addressy polled digital buyers in the US, UK and Germany, and found that nearly four in 10 respondents had issues entering their personal details when trying to complete a purchase on their mobile phone, which caused them to desert their cart. Entering personal details is just one of several problems digital shoppers face. Some 35% of respondents said the screen wasn't big enough to see what they were typing, and more than a quarter had issues entering their order accurately. What's more, one-third said they lost the connection, which resulted in a loss of interest in that product. But it isn't always a poor mobile experience that results in an abandoned cart.

From LinkedIn : According to three basic truths, praising people motivates them, praising people encourages them, and praising people inspires them to even greater heights. Impossible to argue with those statements? Maybe not. Depending on the approach you take, praising an employee -- or praising anyone -- can actually have the opposite effect. The difference lies in whether we assume skill is based on innate ability or on hard work and effort. Put another way, are people born with certain talents, or can talent be developed?