 | | | | | | | | | |  | Reveal Information | | The best in business research |
|
|  | |
|
 "Although the economy is improving, the after effects of the Great Recession continue to weigh on the economy" says the Washington Economic and Revenue Forecast Council this month. Now for the good news:
|
|
Do you have a client who wants to be self-employed, but is not sure what business to go into? IBISWorld, a market research leader, identified some top choices based on projected revenue growth, employment growth, current profits, and barriers to entry.
|
|
Successful business people have many traits in common. Patrick Dreissen says he has  started several companies, and learned a lot along the way. "Read more" to see a summary of his eight key questions for aspiring entrepreneurs.
|
|
 If you know your customer, and have a flair for marketing, you can sell anything! Annie Haven looked around the family ranch and saw gold in those cow pies. The family had sold their organic "fertilizer" to farmers for years, but Annie had a different idea. Package the manure in 3"x5" bags and sell it online to gardeners as a natural soil conditioner tea.
|
|
 Many of the small business ideas DVR customers bring to the table involve making art. Many times, the idea is not feasible. Can an art business ever take off?
|
|
If your customers are looking for online training, business tools, or in-person advice, the government is here to help. The Small Business Administration has a brand new website offering loads of resources. Take advantage of:
|
|
As of October 1, one-person businesses can get group rates on health insurance!
 The state insurance commissioner says "The change involves small group coverage, which under state law in recent years has meant entities (such as small businesses) of 2 to 50 employees. They could qualify for health coverage in the small group market, which doesn't require a health screening.
One-person businesses, however, have had to seek coverage in the individual insurance market, where health screening is the norm and coverage can be hard to find (and expensive) for folks with pre-existing medical conditions."
|
|
 The storm may not be over. The analyst who predicted the bank disaster now says that the next financial shock will be from states and municipalities defaulting on their loans.
She ranks the fifteen largest states for stability--Washington is third on the list.
|
|
How much money do you need to be happy? According to a new study, the answer is $75,000.
|
|
Perhaps it is time for our refrigerators to keep shopping lists for us, and send them to our cell phones--or straight to the grocery store.
They are calling it "wireless on steroids," and its impact on our future is unimaginable. The FCC has approved an enormous expansion of unlicensed airwaves which is going to lead to stronger, faster wireless networks, and wireless in rural areas that have been bypassed up until now. And what about new consumer electronics?
|
|
 The economy faltered in May, according to the state Economic and Revenue Forecast Council, but June "showed some hopeful signs."
|
|
 Furloughs are no fun, but it could be worse--and it might be. Governor Gregoire had been planning across-the-board cuts of $227 million for this fiscal year alone.
Fortunately, the U.S. Senate, voting on an amendment by our Senator Patty Murray, has found a way to provide $26.1 billion in extra help for states to fund Medicaid and public schools. Now that the president has signed the bill, Washington State will receive more than $540 million in additional aid.
State legislators still can't breathe easy. The next biennium has a projected $3 billion shortfall.
|
|
We don't talk a lot about mission statements, but they are key to focusing on what's important and evaluating results.
|
|
 DVR counselors don't have the time to spend hours on small business success, but their self-employment customers do. Tell your customers that it pays to do their homework, and it's free. The Entrepreneur's Handbook--59 Resources for First Time Entrepreneurs offers a variety of links from accounting basics, to marketing, to living frugally (just until they hit the big time!). Another valuable resource is
|
|
 One of the most important business skills every entrepreneur needs is bookkeeping. Simply stated, there are two parts to keeping track of money. First, file all receipts. An envelope marked “May 2010 Receipts” is good enough. When the month is over, put it in a file or larger envelope, and make a new one. Second, keep a record. An auditor does not want to go through all of your envelopes any more than you do!
|
|
I suppose you could say the news from the state Economic and Revenue Update is boring. Manufacturing is expected to be strong, employment is up, housing starts are up, consumer spending is up. Ho Hum.
But I say we should count our lucky stars we live here. The biggest global economic uncertainty of the moment is centered in Europe, and we have very little exposure to that market. More than half of Washington's trade is with Asia, and nearly a quarter is with North America. The Economic and Revenue Forecast Council believes the EU debt crisis is not a threat to Washington.
Now for some cheering numbers!
|
|
 Assignments have been pouring in from around the state, and we here at Reveal Information are expanding to meet demand. Our goal is to deliver more value than you expected and do it within your timeframe.
What do you think? Are there aspects of the planning process we should emphasize more? This is the place to suggest improvements--and of course, compliments are always welcome!
|
|
 Silence.
I had just laid out the results of the feasibility study and run through the three year cash flow projections. It was a great business idea, and the client was both skilled and motivated, so I was enthusiastic about the promise of success. Why wasn't the client bubbling over with anticipation too?
Finally, she said, "Wow. It's all so much."
She couldn't take it all in. I realized I needed to slow down and give her only the information she could absorb, waiting until she was ready for more.
|
|
Imagine a young man sitting in your office, telling you about his business idea. He wants to start a soup subscription service. He plans to make it, pour it into buckets, and deliver it to homes by bicycle.
Professional cooking experience? None. Small business experience? None.
|
|
Writing in the Harvard Business Review, Tammy Erickson points out the loosening of trust between employers and the employed.
 She says the most recent recession differs from those in the past due to the use of furloughs and pay cuts to reduce costs. Employees (and their teenage children) take away the lesson that full-time work does not guarantee full-time pay.
Erckson predicts the results will be:
|
|
|
| | |
|
|
