Here’s our weekly link roundup of small business buzz, musings and muchness. A curation of the best small business talk around the web.
Small Businesses Are Beginning to Own Mobile Moments
“The ultimate desire of any brand is to figure out how to be a part of your day without advertising to you. Let me help you get through your day without you expecting it. Let me be there when you don’t even know you need me. That’s the mark of a very human approach, and it is becoming increasingly accessible for small business marketers to participate.” (Huffington Post)
Are Startups Getting A Little Too Obsessed With Fund Raising?
“For many entrepreneurs “raising money” has replaced “building a sustainable business” as their goal. That’s a big mistake. When you take money from investors their business model becomes yours.” (Business Insider) For many entrepreneurs “raising money” has replaced “building a sustainable business” as their goal. That’s a big mistake. When you take money from investors their business model becomes yours.
Entrepreneurs Get Really Creative with Loyalty Rewards — Would You Do This?
“Boring loyalty reward: 10% off coupon. Not-so-boring reward: 30 seconds to grab as many goodies as you can. The latter is no joke. It’s the reward for loyal customers offered by FoBoGro, a Washington, D.C.-area convenience store. When 22-year-old Brian Smith won the 30-second sweep, he managed to raid the store’s craft beer cooler and chips aisle. There’s one winner everyone talks about though, he says, and that’s the guy who in 30 seconds ‘ended up fitting seven 24-packs of beer out the door.’” (USA Today)
What Do Entrepreneurs, VCs Really Think about CFOs?
“There’s not much we like better at CFO than having finance chiefs tell us directly what they’ve found to work and not work, including anecdotes detailing how they approached problematic scenarios. But are they the only credible sources of such information? Are they even the most objective sources?” (CFO)
Don’t Make These 16 Common Startup Mistakes
“Are you working on a startup? If so, I hate to break it to you, but there’s a good chance it will fail. In fact, recent research shows that 75% of startups fail (based on a study of 2,000 startups that received VC funding from 2004 to 2010). Odds are, you won’t be a Brin, a Zuckerberg, a Systrom, a Karp or a Fake.” (Mashable)
Small Business Administration announces $50 Million in Early Stage Fund
“U.S. Small Business Administration (SBA) Administrator Karen G. Mills announced, during remarks at a G8 session on social impact investing, in London, England, that the agency’s next solicitation for its Small Business Investment Company (SBIC) Early Stage Fund will be opening in the fall of 2013.” (SBA)
Not Surprising! Entrepreneurs Pray More Than Most
“It may sound like the punchline to a joke, but it’s not. It appears small business owners, more than others, are searching for a little divine intervention. A new Baylor University study discovered that American entrepreneurs pray more frequently than those working in other professions. Specifically, more than half of the entrepreneurs surveyed pray daily, and one-third pray several times a day.” (Business News Daily)
$25M Hyde Park VC fund looking for Midwest tech startups
“Startups, it’s time to polish your pitches. Hyde Park Venture Partners has more than $20 million that it’s looking to put into early-stage technology companies in the Midwest. The Chicago-based investment firm said Thursday that it has closed its first fund with $25 million in commitments. (Chicago Tribune)