Important Facts On Electronic Application For SBA 8A Business Development Program

Do you happen to be small business firm waiting for your turn to get your share of profit from the federal market? If it is so then you should know that getting enrolled into an SBA 8A certification program for small business development is just the right thing you should do to accomplish your business objectives. SBA 8a program can help you brave through the challenges that you face in your respective business field. It can get you trained with the necessary skills. What’s more, it can help you widen your profit margins in strategic steps. You can easily get enrolled into an SBA 8a business development program by using the electronic application system. However, before you do so let’s just take a look at some important facts pertaining to the e-application procedure.

The objective of SBA 8a e-application

SBA 8A e-application is a noble initiative from the federal government. It is believed by industry experts that e-application system is conceptualized as well as implemented to make it sure that the SBA 8A applicants can apply for the business development program without taking much trouble.

What are the basic requirements of the SBA 8A e-application?

8a SBA e-application is a highly systematic process and you need to know about some fundamental requirements in the first place.
• The SBA 8a applicants should make it sure that they register with the GLS or general log in system in the first place.
• No part of the application form should be left unattended or unfilled up.
• Applicants should furnish all the important supporting documents.
• Applicants must not produce false statements under any circumstances.
• The applicant should follow the step by step instructions given in the user manual.

Who can take advantage of the online application procedure?

Let’s take a look at the small business fraternities that can elicit good amount of advantage out of the 8a SBA online application process. The list includes

• SDBs or small and disadvantaged business firms
• Women owned small business firms
• Veterans who happen to be service disabled
• Minority business firms

How are the e-applicants going to get the privilege of a waiver?

While making the application online you can get the privilege of having a waiver of the requirement pertaining to two years of existence in a particular business field provided you can prove that

• You have sufficient technical expertise in your field of operation
• You have adequate knowledge of business management
• You have a good record in the contracting market
• You have personal equipment as well as facilities to complete the contract within the given timeline
• You have a strong business plan

The e-application process is a one hundred percent an internet based solution. It is completely Make it sure that you are going to keep a close eye on the facts related to e-application as these facts are going to get you more acquainted with the application process. You can rest assured that these important facts are going to make the SBA 8A e-application an easy to handle task for you.

10 Tips for Business Success

Recently, as I studied to learn how to do a business enterprise, I heard and took notes from the mouths of successful entrepreneurs on proven and tested methods and strategies they’ve adapted to help their businesses to thrive even in the midst of changing economies. We call such methods & strategies Rules of Thumbs.

Always Have a Plan

Before getting into any business activity, whether small or big, it pays to have a business plan or blueprint to follow. This is sort of your guiding star that will prod and direct you to your destination. It empowers you to have an overall view of all aspects of your business and the potential problems you may meet. It also has solutions to potential threats to your business undertaking.

Start Small and Grow Big

It is usually a safer idea to start small, so that you may learn the kind of business you are in. Customizing yourself to many of the hurdles and challenges that you may meet during the stages of building the business is an essential element you may use in your future decisions as an owner or manager. Expand as the need arises and when you think you can handle the pressures, expectations and responsibilities needed for business growth.

Track Your Finances

You can do this with a record keeping system. Keep track of your incoming and outgoing. Too many expenditures can greatly affect your cashflow or the equilibrium of your business and can capsize your boat. Accurate and innovative record keeping can help you to see trends and the status of your business, where it has come from and where you should take it. Such records can prepare you to make wiser decisions and rectify and realign things before they get out-of-order.

Study the Proper Marketing Mix for Your Business

Strategize what mediums to use in marketing your product or service. Most people use the written text. Use audio, video or podcast to reach your prospective clients. Be proactive and know what’s the best price for your clients and when to lower your prices or vice versa to satisfy the law of demand and supply. Know how and where to place your products and pay attention to demographics.

Don’t Overspend

Live within your means is a very old saying that is of use not only in business but in all of life’s financial aspects. Don’t be lured by excessive or unplanned marketing or promotional activities or expenditures that could have a drastic effect on your company’s budget.

Have a Reserve Fund

This will not only serve you during hard times but during emergency situations such as fire or floods or other events that you haven’t imagined could happen to your business. Since most businesses experience tough times, don’t be naïve and think that you will not. Prepare from the start for struggle. If you are one of the few businesses that don’t struggle, great! But don’t count on it. Akin to mountain climbing, the longer your ropes are, the greater heights you are capable of reaching.

It Pays to Have a Business Insurance

I knew a friend who have prepared for tough times and reaped the rewards of her vigilance when a great storm hit their place. Of all the business owners in town, she was the only person who planned for worst case scenarios by purchasing a business insurance. While majority of the businesses around her were ruined, she received a huge amount of cash enabling her to do a major repair and upgrade the amenities of her beach resort. In actuality, she came out better than before the storm.

Innovate or Change With the Times

What was upbeat in the 90′s may not be popular now. Be flexible. Innovate, or choose to die. This is a rough statement, but many businesses have lagged behind because they won’t respond or update adequately to changing trends, changing methods, changing times. You must plan from the start.

Beat the Competition

Always, always, always – stay competitive. Your competitive attitude is essential for confidence that you can produce a product or service as well or better than anyone else. It also fortifies your “guard”, increasing your capabilities, resourcefulness and ingenuity.

My fiancé is a golfer. His golfing hero is Ben Hogan. Hogan believed that you must have an edge on your competition.” In other words, you have to do something that they don’t do! Bottom line: Do something that other businesses don’t do. Have things that other businesses don’t have. And the more unique you are, (the more things you have that they don’t have), the more this sets you above any competition you may face.

Be Persistent

In the midst of all the nitty-gritty details of having to conceptualize, start, grow and maintain your business, you need persistence. Why? Because success is generally not easy to make and there are times you may need to fall, not only once but a few times, to become successful. This is part of your education in the University of Hard Knocks. Remember the adage, “If you fall off the horse – get back on.”

Years ago, Stanford University did a study to find the most common traits of successful people. They called this study The Peak Performance Study. In it, they examined the elements that made successful people successful. They examined people from all walks of life: such as business, entertainment, sports, medical, politics, etc. What they discovered was that most successful people fell many times in their rise to success. But the one reason, the so-called common denominator that all of them possessed was, you guessed it, persistence. Foremost among this list is perhaps the American Civil War President, Abraham Lincoln, who failed to get elected 50 times — before he became President of the United States. So if you have a great idea, and you know it, don’t let anyone or anything discourage you from pursuing it. Chances are that along with the millions before you who have not given up on their dreams, you, too, will eventually win and be called a success — if you simply persevere.

Dear Small Business Owners – I Promise to Get You “READY”

When it comes to web-based marketing, small businesses often think that in order to outperform their competition, they have to outspend them. This is no longer the case. Because the Internet provides useful information quickly, at our fingertips; it has leveled the playing field for most businesses, big and small. Today consumers search online for products and providers before making a phone call, or stopping in at the store. Consumers even compare prices and reviews of providers on public websites before deciding which one to go with. This makes the Internet a game changer that tends to favor innovative businesses the most.

And the winners that are able to ride on top of our fast changing market landscape are those who always find better solutions to improve their work processes and marketing strategies. Over time, these firms gain strong leverage in their industries which make it harder for competitors to catch up. In this article, I will show you the right approaches psychologically, physically and systematically to outperform your competition without having to outspend them. Let’s get started.

First is Relationships. The most important thing to any long-term business success is customer loyalty. So your No.1 task should be figuring out the needs and wants of your customers, and then address those in ways that will build and maintain strong relationships. Although monetary gain is an important factor that will inevitably fuel your business operation, don’t let it outweigh your goals to address your customers’ needs and wants. Customers come to you with problems and an open wallet. If you do a good job solving their problems first, they will happily open their wallets for you, again and again. If you don’t do a good job addressing their problems in a timely manner, and instead focus too much on your monetary gain, the customers will pick up on your priority and you will lose the chance to gain their long-term trust and loyalty. You should always make sure YOUR customers’ problems are YOUR priorities, above YOUR monetary gain. That way, you will first gain their trust, and then their loyalty, for years to come. One good “business relationship building” story that taught me a great deal goes something like this:

One day a carpenter received a phone call to go fix a chair for a client. On this day the carpenter took his little son with him. When they both arrived at the client’s home, she was not happy and began to complain about all the things that went wrong with her chair. The carpenter apologized politely and focused on fixing the furniture, with his little son’s help. When the carpenter finished fixing the chair, he did not charge for the work but instead provided a business card and advised the client to contact him if she needs any help in the future.

On their way home, the son said to his father, “Dad, I looked at the back of the chair, and the trademark is not ours, that chair wasn’t purchased from us, right?”

The father replied: “I know.”

The son then asked, “So, why did you apologize and keep fixing that chair that wasn’t ours, and then not charge for the time you spent working on it?

The father slowly said, “Son, it is true that I didn’t make any money at that job today, but from known, she IS our customer.”

The little boy began to understand the deep meaning of how customer service can build strong relationships. In business, sometimes you have to bend backward or take a little loss to serve your customers, to gain their trust, relationship, and loyalty.

Second is Education. Before your customers are aware of, interested in, and ready to buy your products or services, you need to find the most effective solution(s) to educate them about the benefits of your products or services. The more effective you educate your customers, the better response rate you will get. So planning an intelligent educational campaign to communicate your message effectively to your target audience is critical to your business success.

Third is Approach. Understanding your customers, competition, and current market trends will help you identify smart approaches that will favor your business. For example, when you understand your customers, you will know how to approach them correctly for the most positive response. When you understand your competition; you can predict, to a certain extent, how likely they will react to your different strategic approaches (so you can choose moves that favor you the most). When you understand current market trends, you can identify opportunities to take advantage of, and pitfalls to avoid. Together, these three areas will help you position business strategically for maximum results.

Fourth is Delivery. The truth is, customers come to you not to buy your products or services, but to buy the benefits and experience from your products and services. For example: If customers come to buy tires for their car, what they are actually buying is the benefit of being safer on the road, with good treads that will keep the tires well-gripped to the road, especially on rainy or snowy days. If customers purchase a massage service from you, they are actually buying the benefit of feeling relaxed. It is very important to review what you are selling in terms of the benefits and experience customers will have because of your products or service. Remember, whatever customers buy from you, they are buying the benefits and experience, so your goal should be to exceed their expectations in order to build strong and long-term relationships.

Fifth is Yield. The rule of thumb to maximize results and minimize disappointment in business is to forecast your goals based on non-biased information and realistic projections. For example, if you use mere guessing or biased information to project that, in the next year, you will gain 15% market share (or 150 new clients) within a certain demographic; you will more than likely not yield what you predict. As small business owners, most of us use money we’ve saved up for many years, which is limited. So it is very important to do your research carefully to avoid coming up short. Unlike big businesses with lots of investors handing in money over and over that can be used for marketing, small businesses often do not have the benefit of this ongoing revenue source. So you’ll want to do your homework carefully first.

As I promised, these are five important factors that will get you “READY” (Relationship, Education, Approach, Delivery, and Yield) for business development and marketing success. If you continue to be “READY” in your car race among your competitors, they will soon notice you’re at their side window, if not in front of them. I wish you all the best!