The Federal Trade Commission provides details and links to the appropriate sites so you can “opt-out” of unsolicited mail, telemarketing and email. Here’s an excerpt and the link to the FTC Consumer Alert page:

Are you tired of having your mailbox crammed with unsolicited mail, including pre-approved credit card applications? Fed up with getting telemarketing calls just as you’re sitting down to dinner? Fuming that your email inbox is chock-full of unsolicited advertising? The good news is that you can cut down on the number of unsolicited mailings, calls, and emails you receive by learning where to go to “just say no.”

Website link: Unsolicited Mail, Telemarketing and Email: Where to Go to “Just Say No”

Any additional suggestions for small business owners? Drop us a comment – thanks.

Greg Magnus, Richmond SCORE
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Follow me on Twitter – @gregmagnus, or check out my blog

The world has gotten smaller, faster, more connected. In today’s world, any business can be a global business. It’s easier, faster and cheaper to be connected worldwide.

Take my own business – a small publishing company. My printer’s in Canada, my mobile apps designed in Australia, my books printed and sold in more than 30 languages worldwide. I’ve given workshops and speeches in many countries, including Spain, China, the UK. This global orientation has helped me grow my business – and also hire more people – right here in the good ole’ US of A.

Now it’s time for you to wake up to the world of opportunities out there beyond your borders.

To start, consider whether there are customers you can reach internationally. After all, even without leaving home, you can be selling to customers and clients over the Internet. If you’re selling something that’s entirely digital (content, software, graphics and videos), it’s a no-brainer to reach out – especially to other English-speaking countries. But even if you’re selling something physical, it’s easier than ever to manage shipping and fulfillment.

Remember, “exporting” is not just for physical products – you can also sell your expertise. Foreign businesses especially are eager for American know-how. How about seeing yourself as an international consultant, jetting off to exotic international locales?

I want to help you think globally, so I’ve developed a guide to planning how to incorporate global thinking into your business: Go Global: Grow Global, an entrepreneur’s guide to building your business beyond borders.

And you can get it absolutely FREE! Thanks to a generous gift from British Airways, you can get this global business plan guide at no cost – for a limited time only! Just go to www.ba.com/facetoface.

It’s time to help your business take off! Bon Voyage!

Rhonda Abrams, Guest Blogger
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Last week we asked for your feedback regarding our proposed name change. We read through your comments and found overwhelming support for this initiative. You spoke, we listened. As of today, the new name of this blog will be the SCORE Small Business Success Blog. We hope the name will foster a more inclusive and supportive environment for all entrepreneurs.

Don’t forget to share this blog with your friends. And, please feel free to comment on all of our posts. We love reading your feedback and hearing your stories.

Wishing everyone much success in the new fiscal year!

An income statement is the breakdown of your income and expenses.

Understand your sales, all the income and the expenses going out.

Most companies will recognize the revenue at the time of the sale of the products or services when the order is taken, or when the product or service is delivered. If a company has a hard time collecting their receivables then this revenue can not be realized until the money is deposited in the bank.

The same with expenses, depreciation and amortization. If the industry standard is depreciating an asset over 10 years but if it is depreciated over 30 years then the company will look more profitable.

Always know there is a lot of accounting discretion and must look at how aggressive or conservative you choose to present the company. Your accountant can help with the best strategy.

In general, expenses should be a percentage of revenue. Always look for trends. Revenue growth should always outpace expense growth.

As a rule of thumb, administrative expenses could be 20% of all revenue however each industry could have different standards which need to be looked at.

For Business statistics and financial ratios www.bizstats.com or www.hoover.com or have your accountant help with the analysis of industry standards compared to other companies.

The bottom line is always the profit margin. Revenue minus expenses, including all the costs, of goods, labor and overhead expenses will equal your profit.

If your business is not profitable then changes need to be made to become profitable. Understanding where all the income is coming from will be invaluable in having and keeping a successful and profitable business.

Julie Brander, New Haven SCORE
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Are you ready for retirement? I’m not asking if you’re ready to sell your business and start making clay sculptures in Sedona or want to retire right this moment. I’m talking about whether you’re financially on the right track to be ready to retire when you need—and want—to do so.

Whether you’re 22 or 62, retirement readiness is a question women business owners need to consider. Here’s a shocking figure: On average, women’s retirement accounts are only two-thirds the size of men’s, according to a MassMutual survey reported by The Wall Street Journal. Making matters worse, women actually need more retirement money than men because they typically live longer, according to the Employee Benefit Research Institute.

Entrepreneurs in general are known for failing to adequately plan for their retirement. Many assume that “the business is my 401(k)” and that they will sell the business at some point and retire comfortably. Others plow every extra dollar back into the business, never considering their own needs. Add in the special concerns of women, as mentioned above, and it’s clear that smart retirement planning is an especially acute need for women entrepreneurs.

So start taking a hard look at your future finances. There are many options open for small business owners to sock away retirement funds, including IRAs, SEPs and even 401(k) accounts that can be opened by companies with only a few employees.

The Wall Street Journal article points out another key issue: Many financial planners are less than helpful to women clients because they patronize them, don’t take into account their longer lifespan or assume that their husbands’ retirement plans will handle most of the burden. You can’t assume anything when it comes to retirement planning, so find an advisor you’re comfortable with and who treats you with respect. Ask colleagues and professionals you work with for their recommendations, and check references.

It’s a cliché but it’s too often true that women shy away from understanding financial matters. As a business owner, you’ve had to learn lots about managing your company’s money, whether you were comfortable with finance or not. Now’s the time to do the same when it comes to your own money. It’s your future, after all.

Rieva Lesonsky, GrowBiz Media
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The SBA just released the final rule for women owners interested in contracting  with the federal government.

Good Luck

Steve Bloom, SCORE Atlanta
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News Release

PRESS OFFICE

SBA Releases Final Women-Owned Small Business Rule to Expand Access to Federal Contracting Opportunities

—

New program will be available in early 2011 for small, women-owned firms

WASHINGTON – With the publication today of a final rule in the Federal Register, the U.S. Small Business Administration will begin implementation of its women-owned small business (WOSB) contracting program. The agency expects the program to be available for WOSBs in early 2011.

The rule is part of the Obama Administration’s overall commitment to expanding opportunities for small businesses to compete for federal contracts, in particular those owned by women, socially and economically disadvantaged persons and veterans.  This rule identifies 83 industries in which WOSBs are under-represented or substantially under-represented in the federal contract marketplace.  In addition to opening up more opportunities for WOSBs, the rule is also another tool to help achieve the statutory goal that 5 percent of federal contracting dollars go to women-owned small businesses.

“Women-owned businesses are one of the fastest growing sectors of our nation’s economy, and even during the economic downturn of the last few years, have been one of the key job creation engines in communities across the country,” SBA Administrator Karen Mills said.

“Federal contracts provide critical opportunities for owners of small firms to take their business to the next level and create good-paying jobs,” Mills added. “Despite their growth and the fact that women lead some of the strongest and most innovative companies, women-owned firms continue to be under-represented in the federal contracting marketplace. This rule will be a platform for changing that by providing greater opportunities for women-owned small businesses to compete for and win federal contracts.”

With the publication today of the final rule, SBA, in conjunction with the Federal Acquisition Regulatory Council, will begin a 120-day implementation of the WOSB contracting program, including building the technology and program infrastructure to support the certification process and ongoing oversight. With implementation expected to take several months, the agency expects that federal agencies’ contracting officers will be able to start making contracts available to WOSBs under the program in early 2011.

The creation of a rule to increase federal contracting opportunities for WOSBs was authorized by Congress in 2000.  Since that time, SBA took a number of steps to study and analyze the market, including looking at participation by women-owned small businesses across all industries. Various draft rules were made available for public comment in prior years, but shortly after taking office the Obama Administration drafted a new, comprehensive rule, based on the analysis of the prior studies and on all the questions and comments previously received.  The proposed rule was published for public comment on March 2, 2010 for 60 days.  SBA received over 1,000 comments during that time.

Some of the components of the Women-Owned Small Business rule include:

• To be eligible, a firm must be 51 percent owned and controlled by one or more women, and primarily managed by one or more women. The women must be U.S. citizens. The firm must be “small” in its primary industry in accordance with SBA’s size standards for that industry.  In order for a WOSB to be deemed “economically disadvantaged,” its owners must demonstrate economic disadvantage in accordance with the requirements set forth in the final rule.

• Based upon the analysis in a study commissioned by the SBA from the Kauffman-RAND Foundation, the final rule identifies 83 industries (identified by “NAICS” codes) in which women-owned small businesses are under-represented or substantially under-represented in federal procurements.

o   The SBA has identified eligible industries based upon the combination of both the “share of contracting dollars” analysis, as well as the “share of number of contracts awarded” analysis used in the RAND study.  This differs from an earlier proposed version of the rule which identified only four industries in which women-owned small businesses were under-represented.  This earlier version proposed to identify eligible industries based solely on the “share of contracting dollars” analysis used in the RAND study.

• In accordance with the statute, the final rule authorizes a set-aside of federal contracts for WOSBs where the anticipated contract price does not exceed $5 million in the case of manufacturing contracts and $3 million in the case of other contracts.  Contracts with values in excess of these limits are not subject to set-aside under this program.
• The final rule removes the requirement, set forth in a prior proposed version, that each federal agency certify that it had engaged in discrimination against women-owned small businesses in order for the program to apply to contracting by that agency.
• The proposed rule allows women-owned small businesses to self-certify as “WOSBs” or to be certified by third-party certifiers, including government entities and private certification groups.

o   The final rule requires WOSBs which self-certify to submit a robust  certification verification, to complete the certifications at the federal Online Representation and Certification Application (“ORCA”) Web site, and also to submit a core set of eligibility-related documents to an online “document repository” to be maintained by the SBA.  Each agency’s contracting officers will have full access to this repository.

o   The SBA intends to engage in a significant number of program examinations to confirm eligibility of individual WOSBs.

o   In the event of a contract protest or program review, the SBA has the authority to request substantial additional documentation from the WOSB to establish eligibility.

o   SBA intends to pursue vigorously punitive action against ineligible firms which seek to take advantage of this program and in so doing to deny its benefits to the intended legitimate WOSBs.

Recently I received a pleasant surprise at my doorstep – a package of gourmet vinegars sent to me by a client in appreciation for a recent business model planning session. Opening the box I experienced that warm glow of satisfaction from having rewarding work with people I admire. (And I think fondly of that client each time I prepare a salad dressing.)

I also realized just how rare that experience is in today’s whirl of non-stop response to rapid-fire emails (and now social media posts). As with many of our modern communications, the thank you gift often loses its impact, becoming little more than a sales gimmick or mass promotion.

So how do you make your expressions of gratitude more meaningful? While it may seem common sense, studies in reward theory demonstrate that to have a positive effect gifts should be:

• Unexpected. Incentive programs are not thank you gifts. Since they are communicated in advance to encourage behavior, they are psychologically viewed as “pay” for a particular action. Unexpected gifts, however, stand out and reinforce the internal motivation of the recipient.
• Fair. A gift loses all “value” if it somehow appears inequitable relative to other rewards for the same action (think back to childhood holidays where you were well aware of sibling gifts). The monetary value of gifts therefore should be relatively equal.
• Timely. Gifts have more impact the closer they are timed to the event or action. So it is important to have a system in place (see below) where you can quickly respond, but with a personal touch.

Your Next Best Three Steps:

1. Develop your guideline for thank you gifts. It carries more impact (and saves you money and time) to send fewer, more meaningful gifts than generic give-aways. List those actions of an employee, client, partner or referral source that truly helped you and your business. Also have on hand (or on your list) a series of gifts that are useful and somehow tied to your business to reinforce the reminder.
2. Automate the logistics. Save time on things like packaging, delivery and tracking by using services like Stamps.com – where you can quickly print stamps, generate mailing labels, and track delivery from the convenience of your office. You also then have a record for future reference.
3. Personalize the message. Instead spend those extra moments on a personal note, preferably hand-written. In fact personal notes themselves are the most valuable gifts of all.

How have you used thank you gifts in your business? What has been the reaction? Share in the Comments section below.

Jeanne Rossomme, Roadmap Marketing
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(Follow Jeanne on Twitter @roadmapmarketing)

Think there’s nothing new in business plans? Still using a dusty ole’ business plan outline or business plan software created a couple of decades ago?

Well, think again. The business world evolves, and expectations about business plans change too. Sure, you still have to describe your business, competition, market, and the like. But your plan must reflect your understanding of new realities. If you’re looking to raise money, you have to understand how funders are thinking – and analyzing business plans – now.

So what’s new right now in business plans?

As we developed the newest (fifth) edition of Successful Business Plan: Secrets & Strategies, we looked at the key ingredients you must include in today’s business plans:

• Social media. Potential funders expect to see how you plan to leverage the power of social networking sites – not just the biggies like Facebook and Twitter, but industry and interest-specific sites as well.
• Going global. It’s easier, faster and cheaper to be a global entrepreneur today. How will you build a business across borders, find new markets, suppliers, partners, contractors?
• Presentation techniques. Looking for money? Investors now typically want just a few electronic slides to quickly review before looking at your written plan. There are 12 critical slides to send them.
• Feasibility first! Save time, money and aggravation by doing a quick feasibility analysis before you develop your complete plan (but after your initial research). This edition of Successful Business Plan: Secrets & Strategies now includes a feasibility analysis to increase your chances of success.

Rhonda Abrams, Guest Blogger
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SCORE has been ranked among the top free services in the country by Kiplinger Magazine. Each year, the magazine compiles the country’s “Fabulous Freebies.” This year, SCORE is honored to be a part of the list.

We are flattered by this award and are committed to providing free small business advice and resources to all of America’s entrepreneurs. Did you know that every year SCORE helps almost 20,000 businesses start? Since our founding, we’ve helped over 8.5 million entrepreneurs. The next success story could be yours.

If you haven’t contacted SCORE, what are you waiting for? We have over 360 chapters nationwide and free online advice, 24 hours a day. Want more information? Find out how we’ve helped other businesses succeed, get free online advice, or find your local SCORE chapter to meet a mentor in person. Success is waiting. Get started today!

SCORE Association, SCORE
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Despite the economy, entrepreneurs are not only surviving but thriving. In fact, some of America’s most successful corporations started during economic downturns. The key to success is to get help early and regularly. That was how Morgan Smith and Youngsong Martin’s achieved their dreams.

They are the face of small business and this is their story.

Morgan Smith launched Boneheads Restaurant in California and has since spread nationwide. The restaurant repeatedly appears on “best of” lists for its unique and creative approach to food. Advising other entrepreneurs, he mentions “Most small business owners excel at a particular craft. They really need to engage SCORE counselors to help them offset their weaknesses.” Smith credits much of his success to his SCORE mentor Tom Patty of Orange County SCORE.

Another successful entrepreneur, Youngsong Martin, founded Wildflower Linens. Her business has grown tremendously over the past few years. In 2009, she was asked by the White House to provide and style linens for the first ladies of the United States and Russia. She advises, “If you need help, there are people right there [at SCORE], with amazing knowledge. And free! I am here because of her, because of my SCORE counselor. I can actually cry thinking about that.” The mentor Martin mentions is retired IBM business manager, Terri Carr who is also a member of Orange County SCORE. As a former sales and marketing professional, Carr helped Young refine her business goals and reviewed her marketing program. She then tapped mentor, Jim Anderson, who used his extensive background in finance and management to review Wildflower Linen’s accounting and financial practices. He also helped with issues such as expense tracking, inventory control, taxes and planning/budgeting.

What’s your story? How has having a mentor helped you overcome the odds? Share your success below.

SCORE Association, SCORE
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