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Small Business Connections December 2010 |
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Welcome to Small Business Connections!
The Illinois Small Business Development Center at Waubonsee Community College is here to serve your small business needs. We offer free business counseling to entrepreneurs and business owners, as well as a variety of small business workshops.
Call us today at (630) 906-4143 to learn how we can help you start or grow your business. |
| Small Business Spotlight |
Sensible Threadz 
Carol Frey inadvertently started her career as a retailer six years ago when she decided to sell some household goods on eBay rather than holding a garage sale. Surprised at how easy it was for her, she researched and learned how to purchase merchandise in bulk. She used eBay to test market different types of product, and learned which items were easy to sell, and which were not. She also became an eBay trading assistant to allow her to sell items for others.
Not satisfied with sticking to eBay, Carol decided to venture into the physical retail world, and met with the IL SBDC at Waubonsee to craft a business plan. After spending months perfecting the plan, she launched Sensible Threadz, offering new high end discount kids clothing (infant through junior sizes), bedding and bath, along with some resale brand name junior clothing.
Carol's journey to opening her store was not an easy one. It took months to find financing, which she finally procured with the help of the IL SBDC at Duman Center. Her sign provider vanished before completing the job, her computer crashed, and her first shipment of inventory was held up for weeks at the warehouse, delaying her opening date. Despite these setbacks, Sensible Threadz opened its doors on November 1, 2010 in time for the Christmas shopping season. The store is open and bright, reflecting Carol's stated commitment to make her customers feel comfortable and well served.
Carol also plans to offer a personal shopping service, where she will apply her expertise at finding just about anything for a reasonable price, as well as steaming services for special events, and eBay trading services for others who want to sell items on eBay.
You will find Sensible Threadz at 208 S. Kirk Road in St. Charles across from Borders, or visit them on the web at www.sensiblethreadz.com where you will also find a link to Carol's eBay store.
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IL SBDC News and Events | | |
Google 101 Event Success
The Google 101 Small Business Workshop held in late October was most certainly a popular one! We received a great deal of positive feedback from those who attended. Many of you reported the seminar to be packed with information and tools useful to your business.
If you were unable to attend or would like to review the workshop information, check out these links to Google's slideshow presentation.
Google 101 - An introduction of Google tools for small business containing 49 slides.
AdWords 101 - An introduction and overview of Google AdWords containing 43 slides.
Our goal is to offer similar workshops for Google in the future. Keep an eye on your inbox. Our IL SBDC e-Newsletter recipients will be the first to know! |
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Biz Buzz | |
Trend Tracking Tips for 2011
Most would agree that trends in the marketplace are vital to their business strategy. Rather than just having some general awareness of trends, business owners should work to understand, track and apply them. Trendwatching.com offers 15 Trend Tips to help you. Here are a few tips we found noteworthy:
Be Aware
Knowing your customers is essential to being able to market and sell to them. Businesses should pay attention to consumer trends in order to reach both their established and potential needs or wants through innovation.
Know Trend Types
Understanding and tracking macro and industry trends in addition to consumer trends can help you tailor your business strategy even further. All three levels influence each other, but it is important to remember that macro trends and consumer trends often determine trends in your industry.
Be Curious
By that we mean be perceptive, understanding, and open. The article points out that trendwatching does not require some magical intuition, but just an open mind. Instead of rejecting a trend, ask questions and make an effort to learn more about it. Try new things and set a market trend of your own!
Use Trend Resources Don't dismiss information overload. Embrace it! There are so many resources available today to get your start on tracking trends in the marketplace. Whether it's an Internet blog, ads of all sorts, or even a conversation at the grocery store, there are existing and newly developing trends all around you.
Apply Them
Once you have studied the trends in the market, its time to apply them to your business. Craft a new vision for your company. Come up with a fresh concept for the business. Add a new product, service, or experience. Lastly, get the word out by marketing your new venture to customers!
Click HERE to read the full article on honing your "trend watching skills." |
| Biz Bitz | |
Federal Tax Deposit Coupons
The government has recently issued a proposed regulation that provides that Federal Tax Deposit coupons will no longer be accepted as of January 1, 2011. If this regulatory change takes effect as proposed, your business may be required to make deposits electronically, and may be charged a 10% penalty for each non-electronic deposit.
What You Need to Do
- For a convenient and quick way to make electronic deposits, the IRS encourages you to activate your enrollment in the Electronic Federal Tax Payment System (EFTPS). This system is a free, secure service available from the U.S. Department of the Treasury.
- If you're already making deposits using EFTPS, you don't need to do anything. You can continue to schedule payments over the internet or phone.
If you have questions about your EFTPS enrollment, please contact the IRS at: 1-888-434-7338 or visit their website at www.eftps.gov for additional information.
Some very small businesses - typically, those with a federal tax liability of less than $2,500 per quarter - would still have the option of mailing a check with their quarterly or annual returns. To determine whether this check-with-return option is available to you, please call the IRS at 1-800-830-5215.
For more information about Federal Tax Deposits, please visit: www.irs.gov and search on "Tax Topics 757". | |
| Get Smart: Small Business Workshops at Waubonsee | |
Starting Your Business in Illinois
Thursday, Dec. 9, 6 - 9 p.m., $30 (Aurora)
Tuesday, Jan. 18, 6 - 9 p.m., $30 (Aurora)
Wednesday, Feb. 16, 6 - 9 p.m., $30 (Aurora)
Marketing for Small Business
Tuesday, Jan. 25, 6 - 9 p.m., $30 (Sugar Grove)
Marketing in the 21st Century
Wednesday, Feb. 9, 6 - 8 p.m., $30 (Aurora)
Patent, Trademark and Copyright Law
Thursday, Apr. 14, 6 - 8 p.m., $30 (Aurora)
Check seminar details for the full list, class descriptions, locations, ticket numbers, prices and registration information, or call the Illinois SBDC office at (630) 906-4143.
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A variety of QuickBooks and Excel classes are available to meet your small business accounting needs. Click here for complete class descriptions, locations, dates, times and costs. |
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| Illinois SBDC at Waubonsee Community College
Funded in part through a cooperative agreement with the U.S. Small Business Administration and Department of Commerce and Economic Opportunity. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA or DCEO.
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