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Small Business Connections April 2013
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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. To stay up to date on events, happenings and general IL SBDC information, we invite you to click below.
Call us today at (630) 906-4143 to learn how we can help you start or grow your business.
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Small Business Spotlight
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Kreep-Up 
As a car hobbyist and restorer, Dennis Podzimek's aching back and frustration over trying to work on his full-sized truck led him to invent a product that would allow him to work on both his car and truck while saving his back and the vehicle's paint job. Kreep-Up allows car and truck mechanics and restorers to work on car engines while comfortably supporting themselves on padded knee and chest rests. While mechanics have long been able to easily access the underside of a car Kreep-Up is the only top side creeper that is fully adjustable for cars, trucks and SUVs. Check out this video to see his product in action. Dennis started working with the IL SBDC at Waubonsee in 2010. He was looking for help developing his business and marketing plans, as he was working on the prototype and patent, while also working full time as a construction project manager. Dennis can attest to the slow road that inventors face trying to get their product into the market. Just last year he finally began exhibiting at car shows like the Muscle Car & Classics show in Rosemont and selling the product online. He has continued to utilize the SBDC in various ways, such as access to Dun & Bradstreet lists, as he has pounded the pavement looking for distributors and retailers.  "SBDC has been an invaluable resource. Their knowledge, guidance and support have been crucial to our progress thus far," states Dennis.
After several shows, letters to auto resellers and distributors, and another product revision, Dennis was rewarded with success. Kreep-Up was chosen by Victory Muscle Cars as their 2012 Best New Product, and will be featured in the Hot New Products section in the June issue of Hot Rod magazine. Dennis was recently featured in "Crain's Chicago Business", and his product is currently being evaluated by West Coast Customs. Dennis sums up his journey as an entrepreneur: "Creating this product has been a journey - often exciting, sometimes frustrating. But there is so much more we want to accomplish, and I'm looking forward to an exciting 2013."
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Biz Buzz
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Time is Money - How to Save More of Both
I recently spoke at a Yorkville chamber event about the one cost that does not appear on a small business' financial statements - opportunity cost. The phrase "time is money" is often mis-translated by owners as, "If I spend my time, then I don't have to spend my money." In fact, when you are spending your time, you are also spending your money - and sometimes too much of both.
Small business owners often fall into the trap of what I call "Death by DIY (Do It Yourself)." When first starting a business, entrepreneurs, by necessity, wear many hats. It's certain that they will continue to wear more than one as time goes on. However, the critical mistake involves planning and budgeting for the future assuming that you will wear every hat indefinitely. Here are some common problems that I see related to opportunity costs:
Revenue Plateau or Decline
If you fail to give away some of your hats as you grow, your ability to grow will be limited by your capacity to do everything. Many business owners discover this when their sales level off or start to drop, customer service starts to erode, mistakes occur more frequently, and they are exhausted from working non-stop.
Bookkeeping Chaos
Many business owners are not great with the numbers. So bookkeeping falls farther and farther behind. As a result, the owner can no longer get reliable financial reports, struggles with cash flow and makes business decisions based on incomplete information.
Marketing Hack Job
Let's face it - you can have the best product or service, but you will struggle to build sales if you don't have a strong image and effective ways to connect with your customers. Make-do marketing including a poorly designed website, no Search Engine Optimization (SEO) or analytics, no social media, and unprofessional printed materials will surely cost you in the long run. And, that cost will most likely be much higher than what you saved by doing it yourself.
If you want your business to grow, create a plan that makes the best use of your time and includes a budget for things that should be delegated to employees or consultants. We can all admit that we aren't good at everything. But failing to admit it in your budgeting process can be fatal to your business.
So, value your time, and spend it wisely. Your business depends on it. Make sure your business model and pricing can support continued growth as you transfer "hats" to others. Call the IL SBDC at Waubonsee at (630) 906-4143 for help creating or reviewing your plan. We are happy to help!
Check out this interesting infographic recently published by the Huffington Post in an article entitled Small Business Owners and Time Management.
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Biz Bitz
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Be Your Own Best Marketing Tool
Let's break this down. Who are you? What made you a small business owner? What's the story of why you do what you do? What drives you to create? Let a little of this into your marketing. There's room for you in everything you do. To read more on how to be your own best marketing tool, click here.
Alternative Financing Workshop
Join Accion and the IL SBDC at Waubonsee Community College for the upcoming Alternative Financing Workshop. Topics covered include:
- How your small business can access Accion loans from $500 to $50,000
- Discover free resources for entrepreneurs
- And much more!
Friday, April 26, 2013
8:30-9:30 a.m.
Aurora Campus, Room 160
FREE
Advanced registration is required. Please contact us at (630) 906-41463 or sbdc@waubonsee.edu. You can also see more information at www.accionchicago.org.
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Retail Merchandising
Nicole Leinbach Reyhle
Hear from internationally recognized retail expert and founder of Retail Minded Magazine - the nation's only retail lifestyle publication geared entirely towards independent retailers. Reyhle has been featured in "Crain's Chicago", Forbes.com and other retail publications. She offers unique support for small independent retailers and is dedicated to delivering practical education that retailers can take back to their stores. Reyhle is a resident of Fox Valley and is passionate about working with local merchants.
In this workshop you will learn 10 merchandising tips to help maximize your retail space and customer experience. Gain practical insight on how to strengthen your retail environment through merchandising, with a focus on displays, point-of-sale, customer interaction and more. Discover retail tips, tricks and tools that can strengthen your store appearance and increase sales - plus create a stronger consumer experience.
Thursday, May 2, 2013
8:30 - 9:30 a.m.
Aurora Campus, Room 319
$35
Intuit Grant Wishes
Intuit and America's SBDC have had a long partnership of recognizing the importance of supporting small businesses in our communities. That's why Intuit is excited to give you advanced notice and to invite you to help promote its upcoming Small Business Growing Strong campaign, aimed at helping local businesses in our communities thrive. As part of this campaign, they are committing to making 15 small business wishes (worth $5,000 each) come true. This is a great opportunity for you to engage your small business customer base about an important program that helps get what they need to grow. To learn more click here.
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Get Smart: Small Business Workshops at Waubonsee
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 Starting Your Business in Illinois ($30)
Thur., April 11, 6-9 p.m. (Sugar Grove)
Wed., May 8, 6-9 p.m. (Aurora)
Marketing for Small Business ($30)
Thur., Apr. 18, 6-9 p.m. (Sugar Grove)
Social Media Marketing for Small Business ($30)
Thur., April 4, 6-9 p.m. (Sugar Grove)
Google for Business ($30)
Wed., April 24, 6-9 p.m. (Aurora)
Facebook for Business ($15)
Business Challenge Workshop ($15)
Thur., April 25, 8-10 a.m. (Plano)
Patent, Trademark, and Copyright Law ($30)
Tue., May 7, 6-8 p.m. (Aurora) Retail Merchandising ($35)Thu., May 2, 8:30-9:30 a.m. (Aurora) Register at Waubonsee TicketsBusiness Plan Boot Camp - #1 Markets & Marketing ($30)Mon., April 15, 6-9 p.m. Fri., May 10, 1-4 p.m. (Aurora) Register at Waubonsee TicketsBusiness Plan Boot Camp - #2 Forecasting & Financing ($30)Mon., April 22, 6-8 p.m. (Aurora) Tue., May 28, 1-3 p.m. (Aurora) Register at Waubonsee Tickets
Check seminar details for the full list, class descriptions, locations, ticket numbers and pricing. To sign up, complete and submit the registration form. For additional information call the IL SBDC at Waubonsee 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
Fundedin part through a cooperative agreement with the U.S. Small Business Administration (SBA) and Department of Commerce and Economic Opportunity (DCEO). 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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