Monday, October 29, 2012

TSBDC Rising Star Award Winner, Cafe Rakka, on Channel 2 News!


The Tennessee Small Business Development Center at Volunteer State Community College has awarded Riyad (Chef Rakka) and Linda Alkasem of Cafe Rakka in Hendersonville with the 2012 Rising Star award. The Rising Star award goes to a small business that has had great success utilizing TSBDC resources.
Click the video above to see the story on News 2.

November Seminars


November

Mobile Technology for Small Businesses workshop of Volunteer State Community College's Tennessee Small Business Development Center, 9-11 a.m. Thursday, November 1, 1480 Nashville Pike, Gallatin, TN in the Betty Gibson Hall, Gibson Room 110. Registration is required. Reserve online. www.tsbdc.org. Free.

Starting a Small Business workshop of Volunteer State Community College's Tennessee Small Business Development Center, 3-5 p.m. Tuesday, November 6, 1480 Nashville Pike, Gallatin, TN in the Betty Gibson Hall, Gibson Conf Room 104. Registration is required. Reserve online. www.tsbdc.org. Free.

5 Steps to Marketing Success workshop of Volunteer State Community College's Tennessee Small Business Development Center, 9-11 a.m. Thursday, November 8, 1480 Nashville Pike, Gallatin, TN in the Betty Gibson Hall, Gibson Conf Room 104. Registration is required. Reserve online. www.tsbdc.org. Free.

How Businesses are Utilizing Social Media Platforms: Facebook, Pinterest, Twitter, and YouTube workshop of Volunteer State Community College's Tennessee Small Business Development Center, 8:30 a.m.-12:00 p.m. Wednesday, October 31, 1480 Nashville Pike, Gallatin, TN in the Betty Gibson Hall, Gibson Conf Room 104. Registration is required. Reserve online. www.tsbdc.org. $30.


The TSBDC also offers free and confidential one-on-one counseling for existing and start up small businesses.  To register for go to www.tsbdc.org 
Other contact information - Phone (615) 230-4780  www.volstate.edu/tsbdc
The Tennessee Small Business Development Center Network is funded by the U.S. Small Business Administration and local community donors. 

Tuesday, October 16, 2012

80/20 Rule for Your Business



We’ve all heard of the 80/20 Rule.  The 80/20 Rule means that in anything a few (20 percent) are vital and many (80 percent) can be trivial. Business owners know that 20 percent of the work (the first 10 percent and the last 10 percent) consume 80 percent of your time and resources.
This works in your personal life as well.
·         80% of your music selection comes from 20% of your iTunes selection.
·         80% of your television viewing comes from 20% (or less) of your channels.
·         80% of your experiences comes from 20% of your friends and family.
The same for us here at the TSBDC, since 80% of the TSBDC’s economic results comes from 20% of our clients.
Some quick background: The rule of 80/20 was first stated by Italian economist Vilfredo Pareto, so the rule is also known as Pareto's Principle. Pareto observed that 20% of the Italian population owned 80% of the wealth.
I witnessed the 80/20 Rule while growing up and working in our family-owned furniture store.
·         80% of our inventory came from 20% of our suppliers (lots of Lane and Ashley stuff.)
·         80% of the advertising results come from 20% of a campaign (everyone wanted 90 days same as cash.)
·         80% of our customer complaints come from 20% of products (we once tried to sell lawn mowers…..bad idea.)
The concept is that just a few things are responsible for the majority of your productivity.  Just imagine if you apply that to your business.
For example:
·         If 80% of your business’ results come from 20% of your employees, you need to find a way to reward and retain that 20%.
·         If 80% of your revenue comes from 20% of your customers, you need to find more customers like that.
·         If 80% of your customer service is spent on 20% of your customers, i.e. you may need to let those customers go.
·         If 80% of your sales come from 20% of your marketing efforts, you may want to find a way to expand that particular marketing strategy.
You get the concept. The important thing is to take notice in your business which 20% of functions are responsible for 80% of your success. 

Tuesday, October 9, 2012

Larry Winget on Being Successful in Business



The Unfiltered Truth series is the first time Larry Winget has just sat down and talked to folks about what it takes to be successful. No script. No planned speech. Just Larry talking to you about the actions you need to take to make your personal and professional life better than it is right now.