Stedco News & Press

How to Assemble a Board of Advisors

Tue, 04 Oct 2011 09:31:34 -0700

Setting Up an Advisory Board
To Help You Run Your Small Business
By: Inc.com Staff

An advisory board is a rare species in the small-business ecology, yet assembling such aboard may be one of the most important steps a CEO can take to assure an enterprise's success. Besides offering credibility and contacts, advisors working together provide guidance sharpened by boardroom debate, something individual mentors can't match, says Corey Hansen, a financial advisor specializing in small businesses at Smith Barney in Bellevue, Washington.

For family businesses, boards are invaluable, particularly when it comes to the delicate matter of succession. "A board has the willingness to bring the subject up, in a supportive and patient way," says John L. Ward...

Four Decisions Business Leaders Should Never Make Alone

Tue, 04 Oct 2011 09:13:04 -0700

Four Decisions Business Leaders Should Never Make Alone
From Forbes.com

Running a successful company, is not a solo activity. It takes building a team that can execute the delivery of the company's solutions. However, for the business owner, it can still be lonely at the top. There is a tendency for manyleaders to draw inward and make the important decisions by themselves. However, the most promising companies actually seek advice from many sources before they make four types of decisions.

1. Hiring employees. One of the company's most competitive resources is their employees. The activity of hiring effective people is a critical activity that should not be done alone. Where to find help:

Other employees: If the company has a good core team already built, ask them (and pay a bonus) to refer other people that may want to work at the company. People typically hang out with people like themselves and this also provides a better chance of this new employee fitting into the team. Also make sure to include them in the interview and hiring decisions.

The Internet: The best reference checking is now online. Google any new candidates. Check all the popular social media sites to see the pictures and comments they post, and most importantly how they interact with others.

Your Board of Advisors: When hiring for a senior level position, it is appropriate to run your plans by your board.

2. Firing employees. When the employee's goals match company goals, employees will stay, and prosper. But when they deviate and become unbalanced, this is the time they should seek employment elsewhere. A popular saying is that every leader needs to be "slow to hire and quick to fire". Most leaders are...

Helping Business Grow

Tue, 04 Oct 2011 08:55:56 -0700

Helping Business Grow
Funding Targets "Rural" Areas
By Marissa Berg, Grant and Contract Funding Consultant

One of the U.S. Department of Agriculture’s most successful grant programs could get needed funds into your hands and help grow your business to what you have always desired it to be. It’s called the Rural Business Enterprise Grant (RBEG) Program. This program provides grants for rural projects that finance and help develop small and emergingbusiness. It also assists in the development of distance learning networks and adult education programs that will increase employment. However, small business cannot go at it alone. Strong partnerships among several businesses are the key to success in a project like this. The funder wants to see a coalition of businesses in a rural area working together in a common goal. There is no maximum level of grant funding available. Generally, grants range from $10,000 to $500,000 and smaller projects are given higher priority.

An RBEG program can be used for the acquisition of development of land, easements, or rights of way; construction, conversion, renovation of buildings, plants, machinery, equipment, access streets and roads, parking areas, utilities; pollution control and abatement; capitalization of revolving loan funds including funds that will make loans for start ups and working capital; training and technical assistance; distance adult learning for job training and advancement; rural transportation improvement; and project planning. All projects must benefit small and emerging private businesses, which are considered as businesses that will employ less than 50 employees and have less than $1 million in gross revenue.

Smart Marketing with QR Codes

Wed, 07 Sep 2011 12:16:04 -0700

Marketing used to be much simpler in past decades. The choices for advertising and promotion were much more limited. Today, however, the selections are vast and constantly changing concerning the sundry choices available to market your wares or services effectively. One of the newest and best-received technologies for use in marketing is the creative integration of Quick Response Codes, more commonly known as QR Codes.

QR Codes, and their considerable applications, are quickly starting to dominate the marketing arena. As today’s world increasing relies heavily on hand-held devices that...

STEDCO Members Missing Online Presence

Tue, 02 Aug 2011 11:07:36 -0700

Google is how people are looking for their local needs. If you want your business to be found, you must be on Google Places. With your free Google Places listing, business owners can update their Google Places page with hours of operation, photos, videos, coupons, highlight special promotions and product offerings, post live updates, and more. Google Places can not only help your business stand out, but provides a great vehicle for discovering insights about your business through reviews posted by your customers.