First, let’s talk about the importance of small business to the nation. I’ve heard you speak at several events in the past year, and you seem to be adamant that without the contributions of small businesses, our economy would be in even worse shape.

Small businesses cannot be more important to the nation. President Obama has been very clear that he believes small businesses are the foundation of the economy. Small business owners are the job creators — 67 percent of new private sector jobs over the last 20 years were created by small businesses. And 50 percent of people in the workforce today are employed by a small business. assist you with preparation of a plan and access to research information.”

We’re here at Loyola Marymount University in Los Angeles for the Urban Economic Forum, which is a series of events the SBA is putting on all across the country. Can you tell me more about these events?

The Urban Economic Forum is a multi-city series [taking place in New York City; Birmingham, Alabama; Los Angeles; Columbus, Ohio; Detroit; Chicago; Kansas City; Las Vegas; and Phoenix] designed to help urban business owners create an economy built to last. The purpose is to create a bridge connecting the SBA and local communities, and to raise awareness of the SBA among the people in these communities. Through the Forums, we’re connecting entrepreneurs to local resources, and connecting entrepreneurs to one another. We want to create stronger, deeper relationships across the board. Mentoring is an important part of that. It’s exciting to see young people coming to events like this and being so focused on learning. We’re helping create the next generation of entrepreneurs, and we’re tapping into the energy these young people have. It’s heartening to see young people doing such incredible things. Theirs is a generation of digital kids; they’re comfortable with the [technology] infrastructure, and at ease in digital platforms.

You just talked about mentoring. How important do you think is it to find a mentor and maintain that relationship?

The importance of mentoring cannot be measured. When starting a business, most [entrepreneurs] think about “What should I do to get money?” Don’t think about the money first. Your first thought should be “Where can I find a good mentor?” The answer, and an important first step, is to start with the SBA and our resource partners—the Small Business Development Centers, SCORE and the Women’s Business Centers. Mentoring is not just about teaching. It’s about showing [entrepreneurs] the tools that will boost their business efforts and teaching them how crucial it is to look at the big picture first, before they go granular.

The Forum events are geared toward helping minority entrepreneurs. You spoke today about how important minority and urban business owners are as we emerge from the recession, so I know that’s an important issue to you.

Small businesses are leading the way out of the recession, and minority-owned businesses are among the fastest-growing businesses in the country. But we [at the SBA] noticed that though a recovery was underway, it was uneven. We realized we needed to focus on underserved markets like urban communities, rural communities, veterans and minority-owned businesses, which include the African American community, the Hispanic community, woman-owned small businesses and young entrepreneurs.

In addition to mentoring, what do these business owners need to help them succeed? I was at an event last year where you were speaking, and you mentioned the “three C’s.” Can you explain the “three C’s?”

The “three C’s” are vital to a small business owner’s success. They are access to capital, helping businesses learn more about federal government contracting, and access to the counseling and technical assistance that, as we talked about earlier, businesses need in order to be successful.

Rieva Lesonsky is founder and President of GrowBiz Media, a media company that helps entrepreneurs start and grow their businesses. Before launching her business, she was Editorial Director of Entrepreneur Magazine. Follow Rieva at Twitter.com/Rieva and visit her blog, SmallBizDaily.com, to get the scoop on business trends and sign up for free TrendCast reports.

1. Consult a professional. The CROWDFUND Act seeks to lower the cost of raising capital by exempting companies raising $1 million or less from registering their offering with the SEC. But although you are exempt from registration, you’re not exempt from regulation. Always consult with a professional investment consultant or attorney versed in securities law before embarking on any crowdfunding venture.

2. Understand the two types of crowdfunding. Previously, crowdfunding sites could be used only to get donations (or pledges). The CROWDFUND Act expands the options by allowing entrepreneurs to solicit investments of up to $1 million annually via crowdfunding websites. Unlike donors, these investors actually own a piece of the company and can realize a return on their investment if the company succeeds.

3. Don’t jump the gun. The process for crowdfunding donations hasn’t changed, but the SEC regulations regarding crowdfunding investments and nonaccredited investors won’t be set until January 2013. You will be able to crowdfund from accredited investors (those whose net worth, excluding the value of their primary residence, is over $1 million) beginning July 4, 2012, but you will have to wait until after January 2013 to solicit nonaccredited investors.

4. Research your options. Make sure the crowdfunding site you choose meets the requirements of the CROWDFUND Act. Crowdfunding investments must be solicited through sites that are registered with the SEC, conduct background checks on companies seeking investments, and screen investors to confirm that they understand the risks involved.

5. Beware of scams. Interest in crowdfunding is high, and the CROWDFUND Act is not yet implemented, which means the market is ripe for scam artists. Be very cautious about anyone claiming they can help you raise capital online for a fee.

6. Create a compelling pitch. If you’re crowdfunding donations, your fund-raising pitch should focus on emotions and get donors excited about your business, your product or service and your entrepreneurial passion. If you’re crowdfunding investments, your approach should focus on the bottom line and the potential for investors to make money.

7. Offer rewards. For investors, the reward is the profit they make from your company, but for donors, you’ll need to offer rewards such as product samples, T-shirts or promotional items, or discounts. Develop different rewards for donors depending on how much they contribute.

8. Spread the word using social media, marketing and PR. Don’t limit your search for funds to the people who frequent the crowdfunding site you choose. Create an integrated marketing campaign that tells everyone you are looking for financing—and makes it simple for them to tell others.

9. Create a video. Make your company stand out from the pack by creating compelling pitch videos—one for donors and one for investors. Post them on your website, the crowdfunding site and YouTube—and increase your chances of going viral.

10. Share information. If you crowdfund investments, the SEC regulates how you communicate with investors. Even if you crowdfund donations, you’ll want to regularly update donors on how your company is doing, the progress of your product or service, and any other news that makes them feel part of your success.

Rieva Lesonsky is founder and President of GrowBiz Media, a media company that helps entrepreneurs start and grow their businesses. Before launching her business, she was Editorial Director of Entrepreneur Magazine. Follow Rieva at Twitter.com/Rieva and visit her website SmallBizDaily.com to get the scoop on business trends and sign up for free TrendCast reports.

Small Business Development Center hosted by Pacific Coast Regional
Jaba Trim • Los Angeles, CA

Before:
Eun Choi had more than 10 years of experience in the garment industry and a lengthy list of customers, contacts and business partners when she launched Jaba Trim in December 2008.  Thanks to her industry experience, the company, which manufactures garment trims such as elastics, bias and spaghetti, grew quickly despite the recession. In fact, her own employees couldn’t always keep up with demand, so Choi began using subcontractors. But in February 2010, she decided it might be wise to invest in additional machinery, and contacted the Pacific Coast Regional SBDC to investigate loan options.

Best Advice:
SBDC Business Advisor Martha G. Castro helped Choi develop a business plan, including three years’ projections; prepare a loan package and obtain a $25,000 loan; organize the business’s finances; and improve its marketing strategy.

Lessons Learned :

• Simplify with technology. “Choi was so busy running her business that she had never put Jaba Trim’s financials into the computer system — everything was on paper. Castro showed her how to computerize bookkeeping, create Excel spreadsheets and make financial projections.
• Think big picture. “I helped [Eun] review the financial projections and provided guidance on using the numbers correctly,” says Castro. “I also gave advice on how to figure out percentages, seasonal purchases and rotation of inventory.” Choi quickly saw ways to cut costs and increase profitability. She realized that the premium she paid subcontractors for complex jobs added up, and that buying just one more machine would decrease her reliance on subcontracting.
• Start small. By proving she can handle a small loan responsibly, Choi is laying the groundwork if she needs to seek bigger capital infusions in the future.
• Streamline sales. To reduce travel time and costs for the company’s sales agents, Castro suggested launching a website to show potential clients Jaba Trim’s capabilities and products.

After:
“The [SBDC’s] assistance was very helpful because I was able to obtain the loan,” says Choi, who used the funds to purchase new machines. “Production increased, and the business is growing.” Choi has brought more work in-house and has hired two additional employees. Since she visited the SBDC, Choi estimates sales have grown 20 percent.

Immediate plans for Jaba Trim include creating new manufacturing models, purchasing more equipment to increase production, and launching a company website. Depending on how quickly Jaba Trim expands, Choi may even need to move to a new, bigger location next year. “I am planning to apply for another loan in the near future,” says Choi. When that time comes, she’ll be heading back to the SBDC for help.

1. Give a speech. Find organizations that your target customers belong to—whether the local marathon runners’ training group, PTA or Rotary club—and offer to speak at their meetings.Create a relevant handout to leave behind, and bring business cards and brochures, too.

2. Start a blog. Adding a blog to your business website is a smart tactic for companies that provide information and expertise, such as accounting or consulting firms. Blog about industry news, timely advice for your customers, or new developments in your business.

3. Comment on other blogs. If you don’t have the time or skill to blog, build your reputation by commenting on your industry’s leading blogs. Make sure your comments are thoughtful and add to the conversation. Don’t be overly promotional, but do include your name and business name.

4. Use Twitter. Use Twitter not just to promote your business, but also to share interesting links and retweet useful information. Focus on quality, not quantity. By consistently sharing good information, you’ll build a reputation as a knowledgeable source.

5. Get LinkedIn. If you own a business-to-business company, LinkedIn Groups and Answers are great ways to share your expertise. Join Groups related to your industry and participate in discussions. Look for LinkedIn Questions related to your business and answer them.

6. Write articles. Blogs and online publications are influential, but print media still carries more weight with most people. Contact trade publications and local newspapers and ask if you can contribute articles related to your industry, or even write a regular column.

7. Become a trusted source. Being quoted in print or online cements your reputation as an expert. Seek out journalists who cover your industry, then make yourself a resource by commenting on their articles and sending them information related to their “beat”…and your business.

8. Lead the way. To become an industry expert, you’ve got to be active in your industry. But don’t just attend industry events and conferences—take a leadership role by offering to head committees, speak at events or develop programs.

9. Network. Be an active networker, both online and offline. Focus not on what you can gain, but on how you can help others by connecting them and sharing valuable information. People will come to view you as a reliable and trustworthy resource.

10. Get involved in your community. Keep a high profile in your community by participating in local events. For instance, if you own a health club, you could sponsor a fitness fair or get a booth. The more active you are in your community, the more business will come your way.

 

Rieva Lesonsky is founder CEO and President of GrowBiz Media, a content and consulting company that helps entrepreneurs start and grow their businesses. Before launching her business, she was Editorial Director of Entrepreneur Magazine. Follow Rieva at Twitter.com/Rieva and visit SmallBizDaily.com to sign up for her free TrendCast reports.

http://finance.yahoo.com/news/job-growth-client-sales-soar-221600534.html

SACRAMENTO, Calif.–(BUSINESS WIRE)–

According to a recently completed annual report, California Small Business Development Centers are reporting substantial small business growth in 2011 – helping entrepreneurs create 5,900 new jobs and retain an additional 3,200 jobs that were previously slated for elimination.

Every year, through its 38 individual centers in the state, the California SBDC provides free one-on-one consulting to more than 27,500 entrepreneurs and low-cost training to 38,000 of California’s 1.3 million business owners.

According to the annual report, one key growth area in 2011 was a 55 percent increase in new jobs created in California over 2010. Capital investments also increased to more than $211 million, up from $129.3 million in 2010, resulting in a nearly 40 percent increase in loans and equity for small business clients.

“California Small Business Development Centers are programmed to produce positive economic impacts,” said Priscilla Lopez, state chair of the California SBDC. “The changes from 2010 to 2011, however, were substantial, and primarily attributable to the commitment and investments made by the State of California. We listened to the legislature and were laser-focused on job creation by assisting business owners obtain capital and to increase their sales because that is where job creation originates.”

She added that the state financial assistance was a one-time contribution to the Small Business Development Centers and anticipates that without new resources those reported economic growth areas are likely to decrease next year. For now, she said, the California SBDC is focused on keeping the momentum going and pacing services with client needs. Lopez said additional funding from the Federal Jobs Bill through the U.S. Small Business Administration, and an improving economy also contributed to the 2011 increases.

“At a time when job creation is the highest priority, the Small Business Jobs Act helped the California Small Business Development Center Network (CA SBDC) maximize the number of jobs they created or retained in 2011,” said U.S. SBA District 9 Regional Administrator Elizabeth Echols. “As an important SBA partner, we are proud of the role the California SBDC is playing in our state’s economic recovery.”

Individual centers reported spending more than 100,000 hours assisting small businesses with business plans, loan applications, cash-flow management, government contracting and other needs. As a result of SBDC services, small business clients increased sales by $243.9 million, which resulted in the creation of $37 in new taxable revenue for every $1 invested by the state. Further, clients attributed 815 new business starts to the assistance they received by the California SBDC in 2011.

For more information on the California SBDC or to find a Small Business Development Center near you, go to www.californiasbc.org.

Contact:

NorCal Small Business Development Center Network
Ann Johnson-Stromberg, 707-599-6146
Manager, Communications & Marketing
or
California Small Business Development Centers
Michele Gault, 916-319-9947
Director, Outreach & Partnerships

1. Create a personal Google+ profile. Google+ offers business profiles too, but you need a personal profile first. Signing up is free. Fill in your personal page with as much information as you can about yourself, your business and what you do.
2. Create a Google+ business page. Provide as much information as you can about your business. Consider what potential customers might want to know, including your business address, directions, hours and phone number, photos of your location or product photos.
3. Create circles. Google+ allows you to categorize different people into “circles” and specify which information you share with a particular circle. You can create circles for clients, potential clients, employees, business associates and more; you can also include people in more than one circle.
4. Go public. In addition to posting content to specific circles, you can also post it to the public. This means it will show up when someone does a Google search. Public posts are a great way to expand your audience by exposing your business to people who may never have heard of you.
5. Be engaging. Before posting anything to Google+, consider how it will benefit your audience. Content that gets attention usually includes questions, calls to action, photos or videos, or thought-provoking comments. Try to limit directly promotional posts about your business to about 10 or 20 percent of what you post.
6. Interact. The more you interact on Google+, the faster you build connections and increase your audience. In addition to posting your own content, share and comment on others’ posts (you’ll see them in your Stream). When you share something, credit the originator and add your own thoughts to spark further conversation.
7. Add video. Since Google+ is integrated with YouTube (which is owned by Google), putting video on Google+ can attract more followers. Post how-to videos explaining how to use your product or service, or interview someone on your team about a current industry trend.
8. Promote it. Use the Google+ logo and/or the +1 icon on your website, signage and marketing materials to help people find you on Google+. Download Google+ logos and icons and learn how to use them at http://www.google.com/+/business/brand-guidelines.html.
9. Measure results. The free Google Analytics tool can help you measure engagement on your Google+ page. See who is following your business, what information they like best and what they’re sharing.
10. Use third-party tools. Looking for tools to help integrate your Google+ account into the rest of your social media plan? Currently, only a few tools exist, but more are being developed all the time. Visit http://www.google.com/+/business/3rdpartytools.html to find third-party tools and get updates.

10 Tips For Using Google+ For Business – March 2012

Rieva Lesonsky is founder CEO and President of GrowBiz Media, a content and consulting company that helps entrepreneurs start and grow their businesses. Before launching her business, she was Editorial Director of Entrepreneur Magazine. Follow Rieva at Twitter.com/Rieva and visit SmallBizDaily.com to sign up for her free TrendCast reports.

1. Understand their expectations. Know what Millennial employees hope to gain from working for you. Chances are, Millennials will make that clear during the job interview—but if they don’t, ask them.

2. Challenge them. Millennials want to make a difference in their jobs from the get-go. Encourage that enthusiasm by assigning them challenging projects from the start, and adding more responsibility as they learn.

3. Define tasks and goals. It may seem contradictory, but while Millennials enjoy independence, they also grew up with “helicopter parents,” teachers and coaches micromanaging their lives. Be crystal clear when assigning tasks. Set incremental deadlines and check in regularly to review progress.

4. Provide ongoing feedback. An annual performance review isn’t enough for Millennials, who want to hear how they’re doing—both good and bad—on an ongoing basis. This may be a more hands-on approach than you’re used to with older employees, but it’s essential for Millennials to thrive.

5. Offer flexibility. Millennials expect work-life balance, and view working remotely and flexible hours as essentials, not extras. Bonus: Offering these options not only attracts and retains Millennials, but pleases older employees, too.

6. Provide continuing education. Millennials want to improve at their jobs. Sign them up for webinars or seminars in their areas of interest; send them to conferences and events to learn from more experienced peers; or simply provide on-the-job training and education.

7. Match them with a mentor. Millennials welcome mentorships, and pairing a Millennial employee with an older, more experienced worker benefits both of them. It also cements bonds, which can help eliminate generational misunderstandings at work.

8. Tailor benefits and rewards to their interests. Millennials may be less interested in benefits like dental insurance and more interested in perks like continuing education. In a 2011 PriceWaterhouse Coopers survey, the majority of Millennials said they would like to customize their benefits.

9. Let them BYOD. (That means “bring your own device.”) Tech-savvy Millennials often prefer to use their own laptops, cellphones or tablets for work instead of a company-issued device. This can save you money; just make sure devices are secure and sensitive information isn’t compromised.

10. Use their social skills. In the 2011 Cisco Connected World Technology Report, 56 percent of Millennials said they wouldn’t work for a company that banned social media in the workplace—or they’d sneak around the policy. Instead of shutting down Facebook or Twitter on the job, enlist Millennials’ social media expertise to enhance your company’s online presence.

Rieva Lesonsky is founder and President of GrowBiz Media, a media company that helps entrepreneurs start and grow their businesses. Before launching her business, she was Editorial Director of Entrepreneur Magazine. Follow Rieva at Twitter.com/Rieva, read her blog at SmallBizDaily.com, and visit her website SmallBizTrendCast to get the scoop on business trends and sign up for free TrendCast reports.

1. Tighten your belt. Running lean and mean is essential for small businesses hoping to stay competitive. Look for ways to trim costs whenever you can. Eliminate unnecessary expenses like redundant subscriptions, phone lines or memberships. Review agreements with key vendors annually.

2. Adjust prices. Don’t let rising costs for inventory, materials or supplies take you by surprise. Monitor trends and be ready to increase prices as needed to stay profitable.

3. Find new customers. In tough economic times, keeping a steady supply of new prospects in your sales pipeline is more important than ever. Don’t skimp on marketing activities that help your business generate leads. Consider expanding to new markets or targeting a different subset of customers.

4. Get creative with hiring. You probably need more manpower, but hiring full-time employees is not the only option. Look for lower-cost solutions that also offer flexibility, such as retaining temporary employees, part-time workers or interns, or outsourcing to independent contractors.

5. Maximize productivity. Make sure your staff has the tools they need to be productive. Create systems and processes that streamline operations, and provide training so employees know how to use them.

6. Harness technology. Technology tools like tablet computers and smartphones for your team can quickly pay for themselves in increased productivity. Assess what IT changes make sense for your business. A small outlay to upgrade technology is worth the cost if it helps you stay ahead of the competition.

7. Use social media. Social media is a buzzword for a reason. As more and more Americans join social networking sites, social media is influencing everything from the stores and restaurants customers visit to the services they use and the products they buy. If you haven’t yet explored this marketing tool, make 2012 the year you do so.

8. Monitor your cash flow. Slow-paying customers can put your business at risk. Get accounting software and learn how to use it. Then track your cash flow on a weekly, even daily, basis, and take action to speed income and delay outflows.

9. Keep up with trends. Now more than ever, you need to know the trends brewing in your city, your industry and your market. The needs and wants of both consumers and business-to-business customers are changing rapidly, and if you don’t keep pace, you’ll get left behind.

10. Think strategically. To succeed in business today, you must stay one step ahead of the game. Consider how the trends you’re monitoring will affect your business and your competitors in the years to come. Develop a plan for dealing with threats and taking advantage of opportunities.

Rieva Lesonsky is founder and President of GrowBiz Media, a media company that helps entrepreneurs start and grow their businesses. Before launching her business, she was Editorial Director of Entrepreneur Magazine. Follow Rieva at Twitter.com/Rieva, read her blog at SmallBizDaily.com, and visit her website SmallBizTrendCast to get the scoop on business trends and sign up for free TrendCast reports.

1. Ask for referrals. Many entrepreneurs fail to benefit from referrals because they’re simply too shy to ask. Most satisfied customers are happy to give you referrals–but they won’t think of it if you don’t ask them.

2. Know the right time to ask. Aim to gather referrals at the completion of a project or upon delivery of a product. The goal is to approach the customer when they are happy with the purchase and the transaction is still fresh in their minds.

3. Create a system. Set up a procedure for capturing referrals. This can vary depending on your industry. A business-to-business company might ask for referrals during a post-sale phone call or email. A retailer could enclose a card with each purchase that customers can fill out to refer a friend.

4. Offer a reward. Encourage customers to give referrals by offering incentives, such as a discount on their next purchase, a free month of service or a small gift. Making rewards contingent on whether the referral makes a purchase can encourage higher-quality referrals who are more likely to buy.

5. Build trust. Customers don’t want their friends bombarded with marketing messages. Make them comfortable providing referrals by explaining how you will use the contact information they provide. Will you send direct mail? Will you contact the person by phone?

6. Follow up in a timely fashion. If you let referrals languish for months, their value can fade as the relationship between your customer and the prospect changes or your customer becomes less enthusiastic about your business.  Set up a system to contact referrals within two weeks of obtaining them.

7. Mention the connection, but don’t rely on it. When you contact a referral, be sure to let them know who referred them to you. However, don’t assume that this connection alone will spur the prospect to buy. You need to put forth as much effort as you would with any sale.

8. Get to know them. Don’t give a “hard sell.” Lay the groundwork for a relationship by offering the referral something useful as an introduction to your business. This could be a whitepaper related to their industry, a free consultation, or a discount on their first purchase.

9. Provide great service. When you win business from a referral, always provide outstanding service to the new customer. Otherwise, you will make the referring customer look bad for having recommended you, and you might lose not only the new customer’s business, but the old one’s as well.

10. Repeat the cycle. Be sure to ask your new customer for a referral when the time is right—and watch your business grow exponentially!

Rieva Lesonsky is founder and President of GrowBiz Media, a media company that helps entrepreneurs start and grow their businesses. Before launching her business, she was Editorial Director of Entrepreneur Magazine. Follow Rieva at Twitter.com/Rieva, read her blog at SmallBizDaily.com, and visit her website SmallBizTrendCast to get the scoop on business trends and sign up for free TrendCast reports.

Do you think pursuing government contracts is beyond your small business’s reach? The federal government isn’t the only contracting opportunity out there. Contracting with local government agencies can be a lucrative way for small businesses to get into the contracting game.

How can entrepreneurs find out what types of products and services their local government agencies need?
You can contact the agencies directly, says SBDC Business Advisor Donald Stukes, but you can also perform market research to find out how much money the government spends on your product or service. This is an important step, because if the government doesn’t buy your product or service at a price point that allows you to make a profit, you shouldn’t pursue government contracting. “SBDCs are a great source of information regarding conducting market research,” says Stukes.

What factors should a small business owner consider in assessing whether they are ready to handle local government contracts?
Stukes advises asking yourself the following:

• How much time do I have to work on my business instead of in it?
• What resources do I have available to use for government contracting?
• Is my firm “scalable”?
• Do I have a solid marketing/business development plan?
• Do I have a solid business plan?
• Can I effectively execute my plans?
• Can I take advantage of teaming with other firms?
• Do I have at least three years of above-average and documented past performance?

Pursuing government contracts without assessing these factors is the biggest mistake most small businesses make, says Stukes.

How does the bidding process work?
When a government agency decides to contract out for a product or service, it will issue a Request For Proposal (RFP). Potential contractors review the RFP to see if they meet its requirements and if it fits with their business model. If you decide to respond to the RFP, you need to follow the instructions exactly. Keep in mind, Stukes says, that successful government contractors start the contracting process long before the bid.

How do you meet decision-makers in local government agencies?
“The more difficult part is determining who the decision-makers are,” says Stukes. “Many times the decision makers are a team that has a stake in the outcome of the contract award, and that team can change with each RFP [Request For Proposal] or process in the RFP.” For example, there might be one team that reviews RFPs and interviews potential contractors, but once they make their recommendations, another team will have to review those choices and make the final decision. “Once you identify who buys your products and services,” Stukes explains, “you can start to attend events that these agencies host for the purpose of meeting potential contractors.”

How does selling to a local government agency differ from a typical business-to-business sale?
“The typical business-to-business sale is based on your relationship with the buyer or decision-maker,” says Stukes. “Selling to local government agencies is based on dealing with multiple people and steps in the process.” Another key difference is the time frame. For example, Stukes says the average sales cycle to sell to Southern California Edison is four years.

In general, what criteria do local government agencies use when choosing vendors?
“The criteria vary with each RFP,” says Stukes. For commodity purchases, the decision is normally price-driven; for service purchases, the decision is normally driven by the best value.

Can small business certifications or the location of your business give you an edge over the competition?
“It depends,” says Stukes. “For example, if your office is located in the City of Los Angeles, most Los Angeles agencies will provide an incentive or advantage to L.A.-based small businesses.” Getting small business certifications may be helpful, too. “Certifications cover the federal government, state government and specific industries such as utilities,” says Stukes, who recommends contacting your local SBDC office for more information.

If you bid on a contract and don’t get it, what can you do to improve your chances the next time?
“Always request a debriefing whenever you don’t win a contract award,” advises Stukes. “Be respectful and absorb like a sponge.” The average business wins only one out of seven contracts, Stukes points out. Treat contracting like a marathon, not a sprint, and you’re far more likely to win the race.

Rieva Lesonsky is founder and President of GrowBiz Media, a media company that helps entrepreneurs start and grow their businesses. Before launching her business, she was Editorial Director of Entrepreneur Magazine. Follow Rieva at Twitter.com/Rieva, read her blog at SmallBizDaily.com, and visit her website SmallBizTrendCast.com to get the scoop on business trends and sign up for free TrendCast reports.