May 2012
18 posts
5 tags
Social Networking and Small Businesses: A Marriage Made in Heaven
By Modi Haninovic, Infoaxis Technology Solutions[[MORE]]
The advent of social networking gives smaller businesses a bigger voice in the market, allowing them to rise to a level nearly at par with their larger competitors. With social networking, the playing field is elevated to a battle of efficiency, cost effectiveness, and...
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Save Money in Lower Manhattan - It’s Easier Than You Think
New York City has a full portfolio of benefits to attract businesses to Lower Manhattan. [[MORE]]One of the most well-received of the programs is the Lower Manhattan Energy Program or LMEP.
LMEP provides property owners and commercial tenants in eligible buildings up to 45% reduction in electricity transportation and delivery...
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Think You’re Too Small to Bid on a Big City Contract? Think About Teaming.
By Denise Rodriguez Lopez, American Express OPEN Advisor on Teaming[[MORE]]
Last month, over fifty New York City area small business owners attended the 2nd NYC Teaming event, a joint initiative between NYC Business Solutions and American Express OPEN under the “Compete to Win” suite of programs.
The event focused on the...
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Perfect the Pitch
Speaking in public is tough. Presenting [[MORE]]to others who are evaluating your business is tougher. Making a competitive presentation when money is on the line is brutal.
In April, I was a judge in the 6th Annual Queens StartUP! Business Plan Competition. It is conducted by one of our community partners, Queens Economic Development Corporation. Below are 7 basic lessons –...
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Another Benefit of Certification: A Special Invitation to Meet Agency Buyers
Last year, New York City conducted over 55,000 transactions to buy $15 billion worth of supplies, services and construction, [[MORE]]making the City one of the largest contracting jurisdictions in the country. Several dozen City agencies independently purchase a broad array of goods and services and they often use...
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3 Costly Legal Mistakes Your Business Should (and Can) Avoid
by Arina Shulga, founder of Shulga Law Firm, P.C.
Starting and running your own business is a risky undertaking. We all know the statistics that tell us that the overwhelming majority of new businesses fail. However, you can minimize your risks by avoiding certain common legal pitfalls. Here are my top 3: [[MORE]]
1. Selecting the...
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Got Credit?
June is credit month at the NYC Business Solutions, Upper Manhattan and Washington Heights Centers. [[MORE]]
They’ve teamed up with lenders to help you repair your credit via secured loans or micro-loans.
If…
you never had credit and are unsure of how to get started…
you have damaged credit and are unsure of how to fix it…
you are thinking of starting your business and...
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A New Health Insurance Resource for New York’s Small Businesses
by Marjorie Cadogan, Executive Deputy Commissioner of the Human Resources Administration’s Office of Citywide Health Insurance Access
The Small Business Assistance Program is a new resource available in New York that is designed to address the specific insurance and health care needs of small businesses, [[MORE]]to help businesses...
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GET INSPIRED: From Freelancer to CEO at 60+ Years Old
By Harriet Hoffman, CEO of Make the Right Choice
Five years ago, I left my full time position as a Director of Institutional Giving at a successful[[MORE]] not-for-profit community health center to become a “freelance” grant writer. At first it seemed easy; I picked up some regular clients right away and was doing okay. I liked setting my own...
Why Has New York Become a Paradise for Tech... →
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Financing 101
How does one get financing? How much money does one ask for? What is the[[MORE]] likelihood that one will get financing? These are all great questions and there is no cookie cutter answer to any of them.
Let me start off by saying that in order to acquire financing it is usually better to get it when you don’t need it, rather than waiting until it is an absolute necessity for the...
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Is that Worker an Employee or an Independent Contractor?
by Stephanie L. V. Hendricks, owner of Hendricks Law Firm
Determining if a worker is an employee or an independent contractor usually depends on a number of factors, and in some cases, the answer may not be clear. [[MORE]]
In cases where making the determination may turn out to be difficult, it may be useful to enter into a written agreement...
Made in NY: InVision, a NYC tech startup that... →
madeinny:
InVision, a NYC tech startup that creates prototyping platforms for web and mobile app designers, is the latest tech company to receive seed funding from the NYC Entrepreneurial Fund.
The Daily News reports:
“The lucky startup was co-founded by Clark Valberg, 31, and Ben…
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Advice for Bidding on Public Works Contracts
Welcome to the first edition of the Compete to Win column on the NYC Business Solutions Blog. Every month, I’ll discuss issues that would prevent you from being competitive in bidding on public works contracts. I look forward to your feedback.
Now, did you know that when your parents nagged you about tucking in your shirt, they were really teaching...
Silicon Valley, London, NYC: Startup Genome Data... →
madeinny:
“Last year, we covered an ambitious collaborative R&D project called ‘Startup Genome,‘ created by three young entrepreneurs, Bjoern Herrmann, Max Marmer, and Ertan Dogrultan. The goal of the ongoing project was (and is) to take a comprehensive, data-driven dive into what makes tech startups successful — and not so successful.”
New York's Coolest Start-Up Offices →
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Increase Your Problem-Solving ROI: Clearly Articulate “What is Needed”
In my last blog post, I described the importance of correctly identifying a problem, and its most intrinsic “prime number” components, as the first step in solving complex and difficult to solve problems. In this post, I will describe the next step in the process – determining “What is Needed,” or[[MORE]] envisioning the...
April 2012
10 posts
8 tags
Basset Hounds and Financial Projections
What will your revenue be next month? How about next year? How will growth affect your electricity expenses? How about your insurance?[[MORE]]
If you don’t know where to begin answering these questions, you’re not alone. For many business owners, the only thing scarier than not knowing the future is trying to predict it.
Aspiring entrepreneurs and seasoned...
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Lower Your Monthly Energy Bills
Businesses often say, “I would like to open or expand my business here, but it is so expensive. Operating costs are too high. Monthly expenses pile up. Bills need to be paid. How can New York City help me offset some of these costs?”
New York City can help. [[MORE]]One of the most successful and popular incentives is the Energy Cost Savings Program (ECSP). Its...
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Why Cheap Routers/Firewalls Just Don’t Do The Trick
By Modi Haninovich, Infoaxis Technology Solutions
It is a misconception among many businesses that using a cheap, basic router/firewall is sufficient for day-to-day operations. But it is important to realize that there is more to it than just price – especially since more often than not, going cheap will only get you what you pay for (or maybe...
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Training: It’s About Profits
In the past 5 years, I’ve read about 400 training proposals from businesses. They’ve spanned from the spectacularly creative to the truly terrible. What few businesses realize is that training can have a measurable, meaningful impact on the BOTTOM LINE. [[MORE]]
Too often, I’m surprised by business owners who want to do training “to give back to their employees” or...
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Learning From the Big Leagues
Spring is here, which means my favorite Queens business is back: Citi Field re-opened its gates April 5th for another season of Mets baseball - and with this opening come 2 great lessons for small businesses![[MORE]]
A brief lesson on the Mets for those who don’t live and die by sports like myself: In 2006, the Mets were the best team in baseball, but fell just...
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Selling To Government: 3 Easy Steps to Start
After making the decision to sell to government, you’ll be confronted with a dizzying number of vendor registration websites that will require you to submit a broad range of information. This can feel like a cumbersome process. Here are 3 simple steps to make it easier.[[MORE]]
1. Register your firm on the appropriate bidder’s lists. Here are a...
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Why Should You Incorporate Your Business?
by Arina Shulga, founder of Shulga Law Firm, P.C.
Many entrepreneurs ask me whether they should incorporate their businesses. Most often [[MORE]](but not always), I answer “yes.” My reasons are below.
1. Credibility. You should not rush into incorporating your business the moment you get a good business idea. First, you need to research it: conduct...
Forbes.com: Sweet Smell of Success Comes with Help... →
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Use Your Competitors to Your Advantage
By Zachary A. Rose, CEO of Green Education Services
When you first start out, it can be intimidating to be up against companies that [[MORE]]have been at your same business for so much longer…especially when they are substantially larger. But this can also be a HUGE advantage for you.
Here are 3 tips on how to use your small business status to your...
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The Art and Power of an Elevator Speech
Many business owners hurt themselves by not being able to CONCISELY VERBALIZE exactly what it is that they do. This is the art of an “elevator speech” – a powerful marketing tool.[[MORE]]
An “elevator speech” is a relatively short prepared synopsis of what your business can provide to the listener (a potential customer, partner, or investor). The key words...
March 2012
16 posts
6 tags
8 Actions to Guard Against Data Loss
By Modi Haninovich, Infoaxis Technology Solutions
Data loss disasters come in many forms, ranging from simple human errors to “acts of God” [[MORE]]that cannot be controlled. However, you can control how you prepare for such occurrences – and the steps may be easier than you think.
Here are eight questions you can ask yourself to test your disaster...
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Ask an Expert: Sell to Government
Over the last week, we recieved 3 great questions from readers about M/WBE certification and selling to the government. Read on for the answers. And, if YOU have questions about your business, Ask an Expert. [[MORE]]
QUESTION 1: I am a 100% woman owned firm. Does it make sense to go through the City’s program to get certified? We provide investment management services (for example we manage...
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Access Financing Via an Alternative Lender
At the start of 2008, it would have been hard to predict that subprime lending would play a major[[MORE]] role in an economic collapse that is still being felt today. For business owners, the effect was twofold: the reduced spending by consumers wiped out their profits while over-extended banks tightened their lending criteria. When businesses needed...
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So You Want to Make a Movie? Don’t Leave Money on the Table!
Have you ever seen a film or TV show that tries to look like New York, sound like New York, feel like New York – but just was not quite New York. [[MORE]]Something was disingenuous. What was being passed off as the Big Apple, was actually a sound stage on the West Coast or a cold Canadian outpost. However, through the success of the...
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Set Your Staff Up for Success
New York City’s businesses – retailers, restaurants, manufacturers, wholesalers, you name it and I’m talking about it – depend on their people to sell, produce, and run their business.
Paradoxically, few businesses do a good job of training their staff to perform at their best. [[MORE]]
What I’ve found, after working with hundreds of small...
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Smarter Small Business Survey - $500 cash prize
[[MORE]]The Center for an Urban Future, an economic development group that researches and reports on challenges facing small businesses in NYC, is conducting research examining how greater use of technology could help small business owners grow and get to the next level.
Small business owners: access a 7- to 8-minute survey (o en espanol) to help the Center for an Urban Future understand your...
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Legal Help You Can Afford
Oftentimes, business owners avoid hiring an attorney because the cost is too high. But by saving a few dollars today, you might be paying bigger consequences tomorrow.
The good news? There are way more volunteer attorney’s looking to give back than most business owners realize. [[MORE]]In 2011, NYC Business Solutions referred 445 business customers to pro bono legal...
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Learn to Grow Your Business - Food for Thought... →
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Minority and Women Business Owners: Stand Out From the Crowd
So you think you want to do business with the City and want to know whether you should certify as a minority or woman-owned business (M/WBE)? The simple answer is “yes.” [[MORE]]
Certified businesses receive greater information and access to contracting opportunities through classes, networking events, and targeted solicitations. But,...
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The Small Business Health Care Tax Credit
By Stana Nakhle
The Small Business Health Care Tax Credit created by the Affordable Care Act provides a tax credit to some small businesses, both for-profit and nonprofit, that offer health insurance to their employees. [[MORE]]
Before 2014, for-profit small businesses can claim a credit of up to 35% (and nonprofits of up to 25%) of what they...
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Mind Your Business: Dot Your I’s, Cross Your T’s
While contemplating what to blog about, my train of thought was interrupted by a customer seeking assistance. This particular customer was selling baked goods. She seemed very organized. She had a unique concept; she had a catalogue of her goods; she had samples; she even had a website and a page on Facebook.
Given how established...
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Question: It is like pulling teeth to move smoothly with registering a home-based business. Can you unlock the information to help me set up a fully functional home-based business? - Stuck at the Office
Answer: Good news - we’ve covered the basics [[MORE]]of getting a business up and running in our NYC Business Solutions’ Business Guide. The Business Guide details:
what you should consider...
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Creative Business Problem Solving: Identify the Right Problem
All businesses have problems. What separates the successful businesses from those that fail is the ability of their leaders to accurately identify the problems – and then fix them.
Recognizing a problem may seem easy. But, all too often people focus on – vent about, complain of, and lose sleep over – the things that bug them: the...
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Cooking up a New Plan and New Profits For decades, small businesses have thrived with a recipe of superior products/services, intelligent marketing, incredibly hard work, and strong capital.Today, let’s mix-up the pot and revisit your business plan! By capitalizing on your work ethic, creativity, and expertise, you can create a winning business plan and ramp up your profits in the current...
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Teaming: How Small Businesses Win BIGGER Contracts
By Denise Rodriguez-Lopez, American Express OPEN Advisor on Teaming
Small businesses are winning larger contracts with government and corporations by “Teaming.”
And, in the spirit of partnerships, NYC Business Solutions and American Express OPEN Victory in Procurement jointly created NYC Teaming to make it easier for small businesses to form...
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Tips on Using an IT Managed Service Provider
By Modi Haninovich
Due to budget and manpower constraints, small and midsized businesses (SMBs) often need to outsource a few aspects of their operations – and partnering with a Managed Service Provider (MSP) is one example. Just as in any other partnership – but especially since IT management is a relatively long-term deal – it’s important that...
February 2012
13 posts
7 tags
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The Key to Small Business Success
I’m going to make a bold statement: The key to running a successful small business is working with right people.
Entrepreneurs – no matter how hands-on they are – need
a team of loyal and capable staff. After all, small business owners only have 24/7 to do everything. There will come a moment when the business starts to take off and 24/7 is just not enough....
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Does your business rent space? Incentives can save you money.
Many New York City businesses walk away from tens of thousands of dollars in benefits each year.
Typically, businesses that rent commercial and industrial space just don’t know what’s available. I often hear business owners say, “The City only provides benefits to businesses that buy their space, hire hundreds of employees or...
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Advice for an Import/Export Entreprenuer
Question: I am interested in starting a business to import/export food. Can you tell me what licenses or permits I need? Also, how I can get food analyzed to comply with nutrition reporting requirements? - Hungry for My Own Business, A NYC Business Solutions Blog Reader
Answer: You are smart to ask these questions now! In all the excitement of...
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The Break Even Burger - a Lesson in Financial Management
The burger is making a comeback in Brooklyn! In the past year alone nearly half a dozen burger joints have opened in the borough, to much fanfare and acclaim. The upstarts include Moo Burger in Cobble Hill, a creation of two-time “Chopped” winner Chef Marc Anthony Bynum, the expansion of Fort Greene favorite 67 Burger to a second location...
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Restaurateurs: Get Your Staff to Help More
Restaurant owners are notorious for doing everything themselves – because they have to and because their way is what distinguishes them from every other restaurant.
But being the chef, CEO, bookkeeper and bottle-washer can be exhausting!
The best way to ensure the success of a restaurant is to slowly train reliable staff to take on more and more...