Ron Johnson of the SBA is the interviewer and the interviewee is Jim Hammersely.

Some highlights:

Ron Johnson: What is this 7A loan program?

Jim Hammersley: The 7A loan program is a program where SBA puts a federal guarantee on a loan made by a private sector lender, typically a bank, to a qualifying small business.  The purpose of the guarantee is to encourage the lender to make a loan to a small business that would not quite qualify under their conventional standards but has a viable business and a well-thought out business plan.

***************************

Financing a Small Business

Many new business owners don’t have the money to begin or grow their new New Jersey business. Funding is necessary so they turn to family, friends, VC’s, and small business loans. This short podcast talks a little bit about how to go about finding the money to fund your new business.

( Transcript)

If you have any experiences you want to share about financing your small New Jersey business with help from the SBA please leave your story in the comments section below. Thanks!

Highlights from the podcast:

Ron Johnson: Now can I qualify for a loan if I’m just
starting a business?

Eric Zarnikow: You know, one of the things SBA does, and
a lot of our partial government guarantees actually go to
support a start up business. So SBA loan programs are
available for both start up businesses as well as established
businesses. The business does need to be organized for profit.
It needs to meet our size standards, and it needs to be a small
business. And we’re really focused on helping access to
capital for businesses that can’t get capital through
conventional lending channels, so we’re actually broadening the
access to capital for small businesses. In the end, it needs
to be a creditworthy small business. You’ll need to work with
a lending partner as part of getting a loan that’s backed by
the SBA, but there are resources that are available to people
who are just starting a business.

***************************

Loan Program Changes Helping Small Businesses

This audio interview is of Ron Johnson interviewing Eric Zarnikow, Associate Administrator of SBA’s Office of Capital Access

Need financing in these tough times? The new changes at the SBA’s biggest loan program can possibly be of some assistance to you.

( Transcript)

If disaster strikes your New Jersey business – you’ll find out what to do to cover yourself and take the sting out of it.

Quote from the podcast:

Ron Johnson: What is SBA’s role when a disaster is declared?

James Rivera: SBA’s Office of Disaster Assistance provides low-interest loans to help disaster victims repair or replace personal or physical property not covered by insurance. Often, individuals and businesses are uninsured or underinsured. When losses are suffered, SBA can make loans to homeowners, renters, and businesses.

Ron Johnson: So James, what types of disaster assistance loans are available from the SBA?

**************

James Rivera: For homeowners and renters, SBA can make loans to repair or replace personal property, items such as clothing, furniture, cars, or appliances damaged or destroyed by the disaster. Homeowners that sustain damage to the real estate may also receive a loan to repair or replace their primary residence. For businesses and nonprofits, we have two types of loans available. Physical disaster loans can be used to repair or replace items such as damaged real estate, machinery and equipment, inventory and furniture and fixtures, et cetera, and we also have an economic injury disaster loan to pay for fixed operating expenses or in other words, a working capital loan to pay for rent or electricity that would have been paid had the disaster not occurred.

****************

SBA Provides Disaster Assistance to Homeowners, Renters, Businesses

( Transcript)

If you have any experience with using the SBA for your New Jersey (or other state) business disaster assistance feel free to leave comments about it below.

Some highlights:

Ron Johnson: Nell, women are demonstrating their ability to be successful small business owners. What was your motivation for creating Count Me In?

Nell Merlino: Well, I started Count Me In because I was a small business owner myself and recognized that I had a lot of questions and challenges in my own business and was aware that other women obviously did too. I particularly thought access to capital was an issue. But there were a number of other issues just in terms of figuring out sort of the steps and what you do next that I thought must be a challenge for other women as well. Because I was doing okay but I didn’t know how to take it to the next step. So I just started to start an organization that would address all of these issues.

*****************

Ron Johnson: Nell, I know you understand that sorting through the financial options for women entrepreneurs might be a little confusing for some. So what is your role in ensuring that women have access to capital?

Nell Merlino: Well, I would say money is one of the most important aspects in growing a business, but it is not THE most important. I think that’s a big thing that we emphasize with women. I think many of us go looking for money before we’re ready. And before we have a really clear understanding and explanation of what we’re going to do with the money and why we need it. So I would say one of the things we do is make sure women are fully prepared to approach whatever situation; whether it’s a competition or a presentation in front of angel investors or pitching to your friends and family. If you’re first starting out, how you’re going to convince them and yourself. Quite frankly, that whatever you have planned, you’re going to use the money in a responsible way that’s going to be helpful to you in growing your business. And that you’re going to be able to pay it back if it’s that kind of situation.

SBA and Count Me In: Working Together to Help Women Entrepreneurs Start, Grow and Succeed
Featuring SBA’s Ron Johnson and Nell Merlino, the founder, President, and CEO of Count Me In

Nell provides information for women entrepreneurs seeking access to financial resources. She also discusses the partnership that Count Me In and the SBA have developed and the benefits that they both provide to entrepreneurs and small business owners.
( Transcript )

Have a listen to this podcast about helping women small business persons get started with their New Jersey business – and our other SBA podcasts on the site.

Here are some highlights:

Ron Johnson: Ana, I’m sure our audience has many questions. And I’ll start with what steps should a woman first take when starting a business?

Ana Harvey: Well, that’s easy. She should do her homework first. That is, she needs to have a road map that would take her where she wants to go. And, of course, I’m talking about the business plan. You know, the process of developing the business plan forces you to think very carefully about your target market and how you’re going to reach it. And it forces you to think about your goals and the money you need, where it is going to come from and where is it going to go. When a lender sees that you have really done your homework, you have a plan to start or grow your business, you’re far more likely to get that loan, that line of credit that you need. Without a business plan, getting a loan is almost impossible. Without a business plan, growing that business is a lot more difficult.

**************

Ron Johnson: Many young women may be interested in starting their own small businesses. So, what kinds of resources does SBA offer to support their small business goals?

Ana Harvey: Well, they can start by visiting our Website at the SBA Develop with Junior Achievement. It has a great name and it is easy to remember. It is mindyourownbiz.org. And there are several more youth-oriented Websites at www.sba.gov. You just have to click on Services, then go to Special Audiences, and then Young Entrepreneurs. And also, some of our Women’s Business Centers even have training specifically geared to young women. But any center would be more than happy to help them

Women’s Business Ownership: Starting, Financing and Growing the Right Way
Featuring Ron Johnson & Ana Harvey, Assistant Administrator of SBA’s Office of Women’s Business Ownership

Nearly 104 million businesses are majority owned by women. They provide 12 million jobs and generate more than a trillion dollars in sales. This discussion provides guidance for women in how to get off to the right start in building, financing and growing their small businesses.
( Transcript )

There are also some podcasts that are related to marketing that can help you – whatever business you have.

Audio files:

Dealing with Customer Complaints

How to do a Successful Product Launch

How Caroline M Makes over $1,000 per Month Online

Two Basic Search Engine Optimization (SEO) Tips

Financing a Small Business

Starting a Business Checklist

Creating a Business Plan

How to Choose  a Web Designer

The IRS has a wealth of information at their main site: IRS.gov that you should familiarize yourself with. Here are some of the important ones for small business.

This video goes over the all important and often discussed “Home Office Deduction”. This is such an important area to look into because if used correctly it can be a big savings on taxes. If used incorrectly it can be the basis for the IRS investigating (auditing) your tax return.

Have a look at the video – and they recommend IRS publication 587, business use of your home for more information which you should also have a look at.

Upon submission of your online incorporation form to us we have a turnaround time of not more than 1 business day to file your application with the state of New Jersey – unless we’re waiting on additional information we requested from you.

The state of New Jersey, once they receive your application through our secure online account goes through the following:

The state reviews your chosen business name to see whether it conflicts with any existing corporation, and checks your application in detail for mistakes in grammar, spelling, etc. They will send you a change request if there is something that needs to be changed. If you believe that we (StartNewJerseyBusiness.com) are in error please give us a call at our Toll Free number and let us know.

After the payment we file for you clears you will receive an online confirmation of your filing. A stamped original filing certificate will be mailed to the registered office address of the new entity within three business days following the successful completion of the online transaction.

At any time you can request from us help for obtaining your EIN and/or Subchapter S designation from the IRS, though you should already have received it in your confirmation email from us – just check!

The incorporation process goes very quickly because we have a very fast turnaround time – and it’s always free.

If it’s very important that you file your corporation on a specific day

Being humble encompasses a lot of things. Primarily I’m talking about learning the amazing skill of “The customer is always right.”

This has nothing to do with reality, and everything to do with a philosophy of business that, if you adhere to it – becomes an amazing tool that pays for itself over and over.

Learning to turn an angry customer into a satisfied customer is a great skill to acquire and it takes practice.

In life – in our relationships with people outside of any business relationship we can have disagreements with people and insist that we are correct. We can argue, fight, whatever we want to do in order to prove our point and we’d be “right” in our minds for doing that in many cases, if the point was important enough.

In business the ONLY important parts are:

1. Give people something of value.
2. Charge them money or some other “currency” for it.

Winning arguments is not the important part.
The big picture is that if you are arguing with your customer and insisting you’re right, there are going to be 2 losers. You, and the customer.

Your customer, because they are arguing – has presumably lost something already. You have the power to make this a win-win or a win-lose.

A win-lose might take two forms.

1. You drop your side of the argument. Just don’t argue anymore. You can’t do what the customer is asking for, something went horribly wrong – it wasn’t your fault or your businesses fault. You can’t help the other person no matter what you do. There’s no sense arguing or talking about it anymore. You “won” and the customer lost, but it’s unavoidable. That’s reality. You “won” because you didn’t lose any cash or inventory or whatever it was. You lost too because you won’t ever see that customer again – but, it’s a cost of doing business. Call it a loss.

2. You decide to bend over backwards and sideways for this customer. You do whatever you can to make it “right”. You go the extra effort and give them an outcome they’re happy with. You do it willingly and in the spirit of “helping”. You don’t need to do it, you just do it anyway. The customer won, and you lost. You lost because you lost money or something else that’s tangible. You won though because that customer will speak better of you, and, if (s)he was in a position of influence among other customers or potential customers you won big.

A lose-lose takes place when you argue with a customer, you don’t back down, and yet you COULD have made it right with a minor or moderate loss to your business. These are the most preventable forms of lose-lose interactions that occur.

Your ego shouldn’t be in front of your business. If you want your business to continue… to thrive, you’ve got to drop the ego and make it right for the customer.

If the customer is being reasonable… like maybe they’re trying to return an item that the warranty ran out on at midnight, but it’s now 9 a.m. and you’re the OEM – (Original Equipment Manufacturer) you can make that right with a minimum of loss. You must. That’s reasonable.

If someone is complaining about also getting the difference between what they paid a week ago and the price the product/service is now – can you do that? Maybe offer them half back if you can’t reason with the person. Give them something that enables them to turn around gracefully and walk out with something. Sometimes what’s reasonable isn’t what the owner of a business thinks. It’s tough to put yourself in a mindset of every customer that doesn’t “get it”, but it will help your business grow and expand over the years as more people here about your fair dealings and fewer arguments.

If the customer is unreasonable – call it a loss and stop arguing. Offer the customer something as a token of your intent – 30% off their next purchase or something to settle them a bit. You can’t give in to every unreasonable person that is dissatisfied with your business. But you can give them something!

Swallow your pride. Eliminate your ego when dealing with customers. Be humble. Practice being humble. Practice making win-wins at your expense. That’s what business is – two sides coming to agreement. You hope it goes smoothly after the sale, and in most cases it will – but, you may have another opportunity to make it “right” later when things go wrong for that customer.

Make it right whenever you can by giving something – even a little, when normally you might not – and your business will grow.