Blog Archives

Sharing random thoughts and ideas are great conversation starters. Sharing a blog starts the conversation across the world. Log in and add your ideas to the conversation, whether you agree or disagree, your ideas are welcomed. Visit the NxBizSuccess House Rulesto review how comments are to be submitted. The information provided is not intended to be a source of legal advice. All individuals are encouraged to obtain professional legal, accounting, and tax advice before implementing new business activities

Wine School for the Perfect Wine

Posted on | September 2, 2010 | No Comments

Has anyone tasted a really good wine lately? If so, it may just have come from a Nebraska winery. Scan down the list of awards that Nebraska wines have won over the past few years and you will be impressed. According the Nebraska Winery & Grape Growers Association, there are now 21 wineries and ten additional tasting rooms located throughout Nebraska that offer unique flavors and unexpected sceneries. Download the Official Passport to the 2010 Nebraska Wine Tour and enter your name for prizes.

Oh the flip side, if you are interested in starting a winery or already have a winery, then consider going back to school…that is a wine making school sponsored by the Five Rivers Resource Conservation and Development. Small-Scale Commercial Wine Making School will be held October 22 & 23 and the Advanced Wine Making School II will be held November 5 & 6 in Nebraska City. Here’s your chance to learn more about making and perfecting wines. For workshop information, contact Five Rivers RC&D at 402.335.3347 or email bobbie.meints@rcdnet.net. The workshops feature viticulture experts who can provide great information to get your wines to award winning levels.

Oh, for future reference, I like the bold reds.

Until next time,

Marilyn Schlake, Associate Director, NebraskaEDGE Program, UNL

Did you know?…NE resources

Posted on | August 5, 2010 | No Comments

Did you know?…

Did you know that Nebraska has a new association for small businesses? If not, you need to check them out. The Small Business Association of the Midlands is offering tools, education and networking opportunities for individuals just getting started or are operating an existing business. The SBAM targets businesses with less than 99 employees for their seminars, resources and online information. A membership meeting is being held on August 10 from 8:30 am – 10:00 am. Can’t attend? Contact SBAM to learn more about their services and membership fees.

Did you know that there is an innovation club available in Southeast Nebraska? The I2E (Inventors, Investors and Entrepreneurs) club provides individuals with the opportunity to pursue their passion of launching or selling an innovation or business concept. The next meeting is scheduled for August 10, from 5:30pm – 8:00 pm at the Kimmel Education and Research Center. More information on the I2E Club and membership forms are available online at http://kimmel.unl.edu/i2eclub1 or contact creimers2@unl.edu.

Did you know that entrepreneurial services are available through the Nebraska Self Employment Services for individuals with disabilities? NSES participants must first be clients/consumers of Nebraska Vocational Rehabilitation Services. Services include workshops and one-on-one technical assistance, including feasibility study, business planning, funding, and support services. More information is available at the NSES website.

One more did you know. The NebraskaEDGE is now registering for the entrepreneurial training courses in Holdrege, Columbus and Red Cloud. Holdrege course starts, August 17^th, Red Cloud, August 30, and Columbus, September 7^th. Course and class information is available on the NebraskaEDGE website.

If you are looking for a specific resources and don’t know where to turn, please drop me an e-mail and I will find one that best works for you.

Until next time,

Marilyn Schlake, Associate Director, NebraskaEDGE Program

Office Security – Time to Get it Done

Posted on | June 23, 2010 | No Comments

Wow! Nebraska has sure had its share of storms this Spring. Unfortunately, too much rain, tornadoes, hail, and subsequent floods have ruined homes and businesses alike. Along with mother nature’s fury came water-logged computers and electrical problems from lightening strikes and downed power lines. This type of weather can cause serious problems with computers and lost data. Do you have an equipment and software inventory to provide to the insurance company as proof of purchase and value? Do you have a backup system that safely stores the irreplaceable family photos or costly business records?Learning “how to” and implementing needed protections will help guard computer equipment and minimize data loss. Some security practices such as creating strong passwords require very little effort and time; other actions like setting up network firewalls may require technical support. Either way, taking proactive steps now can help protect the bottom line later.

The Security Squad Videos, now available at http://nebraskaedge.unl.edu/securitysquad.shtml will help business owners develop a security plan of action to protect against loss. This free online training program covers security issues dealing with:

Equipment and Software Inventory
Developing Strong Passwords
Backing Up and Restoring Files
Malware (Virus) Protection
Using Secure Wireless Networks
Installing Firewall Protocols
Buying and Selling Online
Employee policies.

I encourage you to take advantage of some free lessons that will help you better protect your information. The first step is to gather a security squad to help (suggestions on p. 3 of the workbook), watch the videos or read the workbook and put your plan into action. You can thank us later when you have that backup ready to go when you most need it.

Until next time,

Marilyn Schlake, Associate Director, NebraskaEDGE, University of Nebraska-Lincoln

The Security Squad video series was developed as part of the Southern Rural Development Center’s National e-Commerce Extension Initiative. They are based upon work supported by the Cooperative State Research, Education, and Extension Service, U.S. Department of Agriculture, under Award No. 2005-45064-03212.

Additional copies of the materials are available at http://etraining.unl.edu/securitysquad.shtml

Another Plug for Bootstrapping

Posted on | June 9, 2010 | No Comments

An interesting article came out this week from Techcrunch.com on the benefits of bootstrapping a business to stay lean and hungry. Guest writer, Vivek Wadhwa, an entrepreneur turned academic, talks about his experiences starting companies with venture capital. He found that his decisions were about pleasing the board members rather than pleasing the customers. Wadhwa states, “Pleasing board members became an unnecessary priority.“ In the long-run the focus should be on building customer relations for long-term growth.

Research conducted by David Townsend, NC State University and Lowell Busenitz, University of Oklahoma, also showed that acquiring investment capital did not guarantee success. Is venture capital wrong? By no means, no. Venture capital can be a breath of life for a cash-strapped company that has huge manufacturing or other start-up costs. Each entrepreneur should research and critically assess their need for and type of capital investment that would best work for their business.

Wadhwa’s article reminds me of an interview I conducted with Derrick Eells last fall. Derrick and Jeffrey Eells own TenDot Travel, a Lincoln-based corporate incentive travel company. Bootstrapping was the name of the game to getting this business started. If what Wadhwa states is true that “capital starvation leads to innovation,” then TenDot Travel is the epitome of innovation. Derrick and Jeff started their business the day after they quit their jobs. Living out of their house, the Eellses began cold calling and competing against the industry giants. They had new innovative products that were making the industry clients rethink their prior relationships. Through determination and persistence, they won businesses over. To ramp up and keep costs down, they hired contractors instead of employees. They also looked to family and mentors to help with the business operations and decisions. As the business continues to grow, now reaching over the $1 million sales mark, the Eellses continue to stay lean and hungry for new opportunities.

Check out the Eellses’ videos : Passion, Culture and Sales, and Sales Tips for the Service Business and let me know your thoughts on bootstrapping the company, the pros and cons, and how you best bootstrap to save costs.

Until next time,

Marilyn Schlake, Associate Director, NebraskaEDGE Program, University of Nebraska-Lincoln

Here come the U-Boomers!

Posted on | May 18, 2010 | No Comments

As I was scanning the Internet today, I came across an interesting article about U-boomers. Like most of us, I had heard about the infamous baby boomers, but U-boomers? Now, that is something new. According to David Court and Diana Farrell of McKinsey and Company, an international marketing research firm, U-boomers are the next big opportunity for consumer companies.U-boomers are the 24 million middle-class U.S. households that are fast approaching retirement. They are described as a “cohort of unprepared, yet undaunted and uncompromising baby boomers” who will account for 25% of total U.S. consumption by 2015. They are the largest segment of boomers who are optimistic and have high expectations, similar to the 10 million wealthier boomers. But, like the 11 million disadvantaged, pessimistic boomers, they will not be able to afford the lifestyle they want. This is where, as they say in marketing, the opportunities lie.

So how does a company reposition itself to capitalize on this changing and growing market? The article suggests increasing the use of web-based tools to keep costs down and yet provide a high degree of personalization and customization. Provide products and services that create an image of being smart, innovative and proud; not cheap and old. Become more inclusive with products that offer convenience, service and low prices and look to products that contribute to the health of the boomers. As many boomers are unmarried (21 million by 2015 between ages 51 and 70), services and activities that add a sense of community and support will also open the doors into this market.

Does the above information sound like a reasonable response to the changing market place? Have you changed some of your product offerings to target the growing retirement-aged boomers? Rural retailers may already being seeing this change, if so what are you doing differently? I would love to hear your responses. Become a NBS member and add your comments! It’s all free.

Until next time,

Marilyn Schlake, Associate Director, NebraskaEDGE Program, UNL

Source: “Make Way for the U-Boomers” by David Court and Diana Farrell, Forbes.com, 04.08.08

Social Entreprenership at its Best – TOMS

Posted on | March 10, 2010 | No Comments

I was filled with excitement as I started my day out early. I slipped on my TOMS shoes, and smiled at the thought of getting to hear one of my favorite entrepreneurs share his story at the Greater Omaha’s Young Professional Summit. I was thrilled when I learned I had been given the opportunity from Partnerships for Innovation to attend this event at the Qwest Center. Three hours later, after my eastward journey, I arrived at the event and was amazed by the large crowd attending the Summit. This event was incredibly organized with breakout sessions that delivered valuable messages, information, and resources to the participants. However, my favorite part of the day was lunch, and not because of the meal, although it was very good. It was because of the key note speaker, Chief Shoe Giver of TOMS Shoes, Blake Mycoski.I have been a fan of TOMS Shoes and the unique story of creator and entrepreneur, Blake Mycoski for several years. As a student myself, I have written papers on his venture. As an instructor, I teach my students about this inspiring mission and one-for-one business model that, I believe, will continue to have an impact on the business world as well as the social responsibility of entrepreneurs.

I was pleased to be sitting only one table away from Blake Mycoski during lunch. It was very hard to contain myself and not to jump out of my seat and tell him about how excited I was to meet him, what a fan I am, and how motivating his story is to me and many others. I wanted to tell him how proud I am to wear my TOMS Shoes and to share the story with others about how he has given over 400,000 pairs of shoes to children in need, because of his brilliant one-for-one concept. But instead, I decided to patiently wait until he addressed the entire group.

Blake Mycoski took the stage in his casual attire, including his camouflage TOM Shoes and greeted the crowd of 1200 young professionals. He told the story of TOMS Shoes that began with a trip to Argentina, when accidentally learning about the detrimental results of poverty including the lack of shoes for children, his wheels began turning in response to the need, and within forty-eight hours developed TOMS Shoes; a profitable business where a person could buy a pair of shoes today and give a pair of shoes tomorrow to a child in need.

Not only is Mycoski a business savvy person, but he is a very intriguing story teller. He entertained the audience with memorable events that occurred in his start-up journey and shared three important lessons that can be applied to any business. First, he recommended that entrepreneurs consider sustainability and how the non-profit component to a business can contribute to a lasting mission. Next, explained that sometimes the best ideas come from a spontaneous response to a need and people should pay attention to their initial reactions to situations. Last, he stressed the amazing partnerships and highly-qualified employees that can be attracted to a business that tells the truth in its story. He shared the collaborative efforts he had with AT&T. He told the audience, “Giving not only feels good, but it is good for your business.”

Mycoskie also got personal as he shared the moment that changed his life forever. He said that it wasn’t when the idea struck him, it wasn’t when the fashion industry picked up on it and celebrities were wearing TOMS Shoes. The pivotal moment was when he took his parents and sixteen other friends and interns to Argentina for the first shoe drop, and the team hand-placed 10,000 pairs of shoes on the feet of children who otherwise would not have shoes; many of which could not attend school for this very reason. Watching his mother carefully tend to these children as she interacted with them during this process was an experience that he said he will never forget.

Blake offered the audience the chance to win a “design your own” shoe party by sending a text message to TOMS Shoes, the true sign that in addition to being a philanthropist he is a true-blooded marketer and businessman. Mycoskie then took several questions from the audience before ending his presentation. He left the group inspired, but yet humbled. His non-conventional approach is endearing but also reminds us all about the power of entrepreneurship and to think creatively when it comes to solving problems. One last thought that he left with the audience before bringing them to their feet for a standing ovation was, “Make your mission bigger than making profits.”

If you attended the Young Professionals’ Conference last week, give us your feedback on the success of the conference.

Thanks to Guest Blogger: Lisa Tschauner, Central Community College, Entrepreneurship Coordinator and Business Instructor. Contact Lisa at ltschauner@cccneb.edu

Webinars Offer Online Advice

Posted on | March 5, 2010 | No Comments

Congratulations, you now have a web site. The only problem, it’s not generating the traffic you want, nor the sales you need. What is the best option for you? Is it SEO, SEM or keywords and tag lines?To help muddle through the murky waters, eXtension.org has developed a series of free webinars on e-commerce solutions. The next webinar will be held Thursday, March 11th, 2010 at 1:00 p.m. (CDT) or 12 noon (MDT). Jay Jenkins, Extension Educator, University of Nebraska will present Get Found! This session will help you learn how clearly written and properly implemented web pages are found.

All webinars are one hour long. Free and open to everyone. The Web meeting room opens 10 minutes before the start time. Go to connect.extension.iastate.edu/ecop to view. Pre-recorded webinars are also available at ETC Archives. Topics include: Google Analytics, web usability testing, maximizing pay-per-click campaigns, Web 2.0 tools, and Internet Marketing.

Visit the NxBizSuccess e-commerce videos for more information about SEO and Internet blog marketing. We’d also love to hear how you increased your online sales. Sign in as a NBS member and write your suggestions in the comment box.

Until next week,

Marilyn.

Marilyn Schlake, Associate Director, NebraskaEDGE & NxBizSuccess.com, University of Nebraska-Lincoln

Terry Jones speaks at Governor’s Conference On Rural Development

Posted on | November 6, 2009 | No Comments

On November 6th, 2009 at the Nebraska Governor’s Conference on Rural Developmentin Kearney NE, Terry Jones, founder of Travelocity.com and chairman of Kayak.com spoke about technology changing how we conduct business. It was a great presentation on innovation, rethinking and redesigning the customer relationship and our interaction with that customer.

Terry spoke of how the consumer is now in the driver’s seat and that we, as business owners, must listen to the consumer in order to survive, let alone be successful.

Terry termed the change as working in the “3rd Channel” (which will be a new book written by Jones). The 3rd Channel, or the Internet, is forcing businesses to provide the personal service that has commonly been identified with the traditional small store and combining it with the Big Box model of wide selection and low prices. The Internet makes it possible. Face to face interaction is no longer enough, business owners need to build digital relationships with their customers…they are expecting it. Today’s consumers use multi-channels to shop. Although they are still visiting the stores, they are also shopping by phone and online. To take advantage of these multi-channel shoppers, a business owner needs to provide multiple access points to their business. Listen to your customers and discover what they want, how they want the product/service delivered and what added benefits you can provide to make their lives easier. Convenience and service are basic demands of the customer.

If you have found great ways to capture the multi-channel shopper, please share your ideas. I would love to hear some practical ideas that really work.

To access Terry Jone’s presentation, please click on the link provided: http://www.neded.org/files/NCIP/2009/091104_Neb_Gov_Conf.pdf.

Until later,

Marilyn Schlake, Associate Director, NebraskaEDGE

How to Use Others’ Assets to Attract Buyers

Posted on | August 10, 2009 | No Comments

Bundle Up. Use others’ assets to start your own company.

“I lost my job, so I’m looking for something entrepreneuerial that I can do. But I don’t have many resources. Any suggestions?” As the host of NxBizSuccess, I hear this question a lot.One idea is to become a packager of specialty products or component services that a buyer would prefer in a single, convenient solution….to become a ‘gateway’ or “switchboard.’ No equipment or capital is required, really. All it takes is the ability to make enough industry connections to achieve leverage with both seller and buyer. To begin, you must have a sales personality and use it to aggregate other small companies that are willing to work together (under your supervision) in order to generate sales they couldn’t have gotten without you.

Again, the key: Have enough subcontractors and customer prospects to create a concentration of power. It probably requires that you, the entrepreneur, have 15% or 20% of the subcontractors or vendors in a marketspace working with you in order to have leverage with the buyer. Relationship-building, trust (especially on pricing) and momentum are
the key.

This business model is used in the building trades, in Hollywood and in many creative or consulting businesses. But it’s becoming more popular in almost any industry where there are lots of parts and pieces and buyers value an integrated solution. Consider becoming a middle-man and a talent integrator if you lack the resources to build your own brick and mortar company from scratch.

Lynn Hinderaker, Host, NxBizSuccess

President, OmegaPointMarketing

Which is Best: Nimble or Powerful

Posted on | August 10, 2009 | No Comments

Given the state of our economy right now, would you rather be a very small company or a very large company? When I interview small business owners and advisors on NBS (NxBizSuccess.com), I wonder how they would adapt to this turbulent situation if they were running GE, for instance. Would they fare any better than Jeff Immelt, who has a very
drawn look on his face these days?If you’re small, you should be extra-nimble. It should be easier to test a new product than if you are a large company. But large companies have resources. Industry association leaders pay extra attention to them, so they hear about new trends faster than their small competitors. For instance, P&G has created a world wide ‘innovation network,’ linking them to scientists, cool hunters and even street vendors around the world. This allows them to pick and choose among cutting edge trends as they emerge on the fringe of society.

If you had maximum freedom, would you choose to run a biggie – where established practices would slow you down, but you might eventually make a huge difference – or a start up, where you may toil forever in obscurity, no matter how good your leadership or product is?

Weigh in! Join the NBS blog community and make a difference right here, right now.

Lynn Hinderaker, Host, NxBizSuccess video training series

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