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Author: Kelsey Munksgaard

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Six Small Business Startup Resources for Veterans

According to a Small Business Administration (SBA) report, veteran-owned firms represent 9.1 percent of all U.S. businesses. They employ more than five million people and have an annual payroll of $195 billion. Indeed, veteran entrepreneurs have a positive impact on our economy.

In efforts to support veteran entrepreneurs—the SBA, SCORE, and other organizations have developed resources targeted to veterans’ small business startup needs. In this post, we’ll highlight some of the websites, programs, and organizations available to help veterans launch and run their businesses successfully.

Resources for Veteran Business Owners

1. SCORE

In the “Resources for Veteran Entrepreneurs” section of the SCORE website, you’ll find webinars, blog posts, and articles that are focused on a broad range of topics. From funding to franchising to transitioning from a military career to entrepreneurship, there are ideas and information to help prepare veterans for business ownership.

SCORE Maine and other SCORE chapters across the nation offer workshops, roundtables, seminars, and other programs to help entrepreneurs start and run their businesses. All SCORE chapters also offer free mentoring, which can be especially helpful as veterans navigate the opportunities and challenges that come with starting and running a business.

2. SBA’s Office of Veterans Business Development

The OVBD works to maximize the “availability, applicability, and usability” of small business programs for veterans. The OVBD has a Veterans Business Outreach Center Program, designed to make business development services available locally across the United States. Veterans Business Outreach Centers provide services such as business workshops (e.g., Boots to Business), entrepreneurial counseling, business plan preparation, feasibility analyses, and mentorship.

The OVBD website also shares information about funding resources, veteran entrepreneurship training programs, and more.

In addition, the SBA has a program for service-disabled veteran-owned businesses that want to procure federal contracts. The Service-Disabled Veteran-owned Small Businesses program allows agencies to set aside contracts specifically for veteran-owned companies.

3. U.S. Department of Veterans Affairs Veteran Entrepreneur Portal

The Veteran Entrepreneur Portal gives access to various business tools and services. It links to websites and information with details about government programs and services created for veterans.

4.  National Veteran Small Business Coalition

The NVSBC is a non-profit trade association that advocates for policies that encourage veteran-owned businesses’ participation in federal contracting opportunities. Veterans that join the NVSBC gain access to resources and information to help them compete in the federal marketplace.

5. Veteran Women Igniting the Spirit of Entrepreneurship

V-Wise is an organization open to all women veterans, active-duty female service members, and partners of veterans and active service members. It offers entrepreneurial courses and resources in cities across the United States.

6. Entrepreneurship Bootcamp for Veterans with Disabilities

Developed by the EBV Foundation, this educational program is offered at various universities in the United States. It provides training in entrepreneurship and small business management to post-9/11 veterans with service-related disabilities. The EBV Foundation provides grants to graduates of the program, helps with business plan development, and provides other services to support disabled veterans in their entrepreneurial efforts.

Your First Step to Starting a Veteran-Owned Business

SCORE mentors have knowledge and experience in starting businesses in a broad range of industries. They can provide valuable insight to help you successfully launch your veteran-owned business. Make SCORE the first step in your journey to entrepreneurship. Contact us today!

Are Your Employees Delivering?

Small business owners invest a lot of time, energy, and resources to onboard employees in hopes that new hires will become long-standing, productive team members. Unfortunately, sometimes things don’t work out. Occasionally, there may be an employee with a poor attitude or qualities that don’t suit the workplace culture.

 

However, sometimes there may be an employee who has potential but isn’t quite reaching the expected performance level. How can business owners who have hired a “diamond in the rough” get that new hire up to speed?

 

As you start and grow your business, you will likely encounter this situation. So, let’s take a look at some of the ways you can help underperforming employees become the team members you need them to be.

 

9 Tips for Dealing with Underperforming Employees

 

1.  Don’t wait.

 

 The longer you wait to have a conversation, the more difficult it will be to broach the topic. Employees may not even be aware that they’re not doing as well as you expect them to. The longer their underperformance continues, the longer it will have adverse effects on your business.

 

2. Write it down.

 

Document what’s lacking in their performance. But also make notes about some positive traits so that you can offer some good feedback with the not-so-good.

 

3. Provide specifics.

 

Be clear about what employees need to do to improve. For example, “We need you to pay more attention to detail” is not as clear as “We need you to double-check your math when closing out the cash register at the end of your shift.”

 

4. Keep emotions out of the equation.

 

Plan to talk with underperforming employees at a time when you can approach the topic calmly without yelling or appearing overly frustrated. Remember, you’ve decided the person is worth keeping around if they can improve in some areas; it will be counterproductive if they feel attacked.

 

5. Determine if external or internal factors are at play.

 

Ask questions. If a performance problem suddenly appears, there might be a personal situation creating distraction temporarily. Or perhaps within your company, there hasn’t been enough training, or there’s an interpersonal issue with another employee. Knowing what might be contributing to the poor performance will help you understand what can be done to get over the hurdle.

 

6. Get a pulse on what motivates them.

 

Sometimes, employees need some incentive to step up their game. It might be as simple as getting more feedback and encouragement regularly or having a discussion about what opportunities exist in the future if they excel in their position.

 

7. Make a plan.

 

After you’ve assessed underperformance situations, create a plan for getting employees to a higher performance level. Map out how training, additional practice, webinars, more constant feedback, etc., whatever you’ve determined you need to provide, will happen. Set a timeline for when you will re-evaluate performance, and explain the next steps if performance continues to be sub-par.

 

8. Follow-up.

 

Provide feedback as your under-performing employees follow the improvement plan. Also, keep an open door for them to ask questions and discuss challenges.

 

9. Ask a SCORE mentor for guidance.

 

SCORE mentors provide business consultation to entrepreneurs in many industries and can provide helpful insight. Mentoring is free and can help you overcome whatever challenges you’re facing in your business. Contact us to set up a time to meet with a mentor.

woman and man in office

You. Twitter. Get Noticed!

Twitter can be a powerful marketing tool, but many  entrepreneurs find it challenging to build
a following and stay top of mind there.

Five Twitter Tips to Help You Get Noticed

 

1. Increase your tweeting frequency.
Twitter has a faster, more dynamic pace than Facebook, Instagram, and LinkedIn. To get on
people’s radar on Twitter, you need to post more often than on other networks. How often,
you ask? After analyzing the results of 14 different studies, CoSchedule (a social media posting
platform) says 15 tweets daily (spread out throughout the day/night) is ideal. That may sound
overwhelming but see tip five below for a way to make it manageable.

 

2. Tweet what matters to your target market.
Think before you tweet. What is your audience interested in? What are they hungry to learn?
Mix things up by tweeting not only your own content but also content created by other reliable
resources. Appeal to users with different preferences by posting tweets with various types of
content (e.g., blog articles, infographics, videos, etc.) Also, consider what people may not want
to see; political commentary and other hot-button content can drive away followers.

 

3. Use hashtags.
Including hashtags in your tweets will help people find you and increase engagement. Go easy,
though. One or two will do the trick. More than that can be a turn-off and cause followers to
tune out.

 

4. Follow companies and people you want to interact with.
Make a list of clients, prospects, vendors, business partners, influencers, and others with whom
you would like to establish or maintain a relationship on social media. People and brands that
are active on Twitter will often reciprocate and become your follower after you follow them.
Besides following other accounts, take a few minutes each day to interact with their tweets
(either retweeting, liking, or replying to them). The more you engage with others on Twitter,
the more engagement you will get in return.

 

5. Use a social media management tool.
Tools like Buffer, Hootsuite, and SocialOomph offer free versions and can save you a lot of time.
They allow you to schedule tweets and posts across multiple social networks, enabling you to
get back to business while maintaining an active social media presence. Hootsuite’s dashboard
functionality also makes it convenient to keep track of key followers’ activity on Twitter. Free
accounts on these platforms have limitations, and other plans are available (for a fee) that offer
expanded capabilities. Other social media platforms with subscription plans that you may want
to look at include SproutSocial and CoSchedule.

 

Ready to give it your best shot? 
As with any form of networking, building awareness and trust on Twitter requires time and
repeated exposure. The above tips will help you gain traction, but you’ll still need some
patience. For more advice on marketing your business online (and offline), contact SCORE to
talk with a mentor.