1. Understand angels. Angels are private investors or groups of investors who invest in small businesses. Unlike venture capitalists, who invest and manage other people’s money, angels invest their own money.
2. Determine whether your business is a good fit. Angels often fund companies in the early stages, before they are ready to qualify for bank loans or venture capital, explains SBDC Business Advisor Nina Grooms-Lee.
3. Know how much capital you need. Angels typically fund anywhere from a few thousand dollars to $2 million, says SBDC Business Advisor Mike Grimshaw. If you need more than $2 million, angel investors may not be the right choice for you.
4. Be prepared to give up some ownership. Since angels generally provide funding in the form of convertible debt or in exchange for an ownership stake, Grooms-Lee says, you need to be comfortable with sacrificing some equity.
5. Demonstrate potential for return. Because they make risker investments than banks do, angels expect a higher rate of return. You must be able to show how your business will make money, how the angel/s will benefit and a clear exit strategy.
6. Pinpoint the right angels. Angels often focus on certain industries, so you can improve your chances of success by targeting angels that specialize in your type of business. Tech and biotech, medical services and appliances, green products and services and social media tools are all popular industries for angel investment right now, according to Grooms-Lee and Grimshaw.
7. Use all your resources. You never know where you’ll find an angel, so search both online and off. Grimshaw recommends visiting www.gust.com to find angel investor groups nationwide. Capital conferences, referrals from business contacts, and your nearest SBDC are good resources as well, says Grooms-Lee.
8. Show your management strengths. Unlike VCs, who may replace your management team, Grimshaw explains that angels often pick their investments based on a good management team already in place. Instill confidence in the angels by demonstrating your team’s expertise and credibility.
9. Be prepared with a strong package. When you make your presentation to the angel/s, be ready with a clear, concise pitch and a well-thought-out business plan. Also use the meeting as a chance to understand the angels’ approach and build rapport, says Grimshaw.
10. Be willing to listen and learn. In addition to capital, many angel investors provide resources, contacts and advice based on their industry experience. Don’t miss out on the advantages this valuable knowledge can provide.

Rieva Lesonsky is founder and President of GrowBiz Media, a media company that helps entrepreneurs start and grow their businesses. Before launching her business, she was Editorial Director of Entrepreneur Magazine. Follow Rieva at Twitter.com/Rieva, read her blog at SmallBizDaily.com, and visit her website SmallBizTrendCast to get the scoop on business trends and sign up for free TrendCast reports.

If you are a business owner or have a strong business concept and you are looking for equity capital to start or expand your business, ANGEL INVESTORS may be your answer.

An ANGEL INVESTOR is an individual investor or a group of individual investors seeking investment opportunities in the community.
Entrepreneurs who are looking for CAPITAL to start and grow their business —
• Find out what investors are looking for.
• Do you have a strong business idea that needs CAPITAL?
• Do you a have successful business, but need CAPITAL to expand?

WHAT WILL YOU LEARN FROM THIS WORKSHOP?
As a small business person here are some of the things you will become aware of:
• What an angel investor will do for you
• How to find an Angel Investor
• Are you a good opportunity? Why should an investor invest in your business or business concept?
• How to make winning presentations to individuals and or groups of investors
• What is the value of your company? How much money do you need to start and grow your business?
• What is included in the contract agreement?
• Due Diligence by borrowers and Investors
• After the investors have invested? What happens?

You will be able to perform the following after attending the workshop:
• Find investors.
• Present your business to make the investor invest.
• Show your business or business concept in the most positive manner.
• Get the best valuation for your business.
• Prepare your business proposal in a professional way.
• Negotiate strategies to get what you want.

For more information, please call: (310) 434-3566
Register online: www.smcsbdc.org
Cost: $25

SMC-AngelInvestor-Flyer_11.12.11

1. Start now. “Now is the time to begin executing your plan to reach customers during the holiday season,” says SBDC Business Advisor Monica Rayes. “Most of the challenges [small businesses face] can be alleviated with a well-thought out marketing plan that connects with consumers.”
2. Use social media. Today, Rayes says, customers expect to be one click away from businesses at all times. Use social media to get close to your customers, alert them about holiday news and specials in your business, and learn what they want and need.
3. Use email. Timing and subject line are key. “Time your emails right and make them stand out,” says Rayes. “Identify the best days and times for emails to go out, and be proactive about generating quick responses.”
4. Use the Web. Even if you don’t sell products online, Internet marketing can expand your visibility to a wider audience. Use social media, search engine optimization and paid search advertising to attract customers seeking particular products.
5. Enhance the shopping experience. Price matters, yes, but emotion is still important for holiday shoppers, says Rayes. Use festive décor, music and scents to create a mood that makes customers linger (and spend more) in your store. Online, use images and marketing copy that put customers in a holiday mood.
6. Be part of the community. Participate in community events both before and during the holidays, Rayes advises. Get involved with charitable organizations and consider holding holiday events in your store.
7. Capture early shoppers. “Early shoppers like to plan ahead and take their time when making purchases,” says Rayes. Since these customers seek continuous engagement, Rayes suggests using mobile marketing, social networking and email marketing to promote customer loyalty programs, discounts and new product announcements.
8. Capture last-minute shoppers. The more you can simplify the gift-buying process for these shoppers, the better, says Rayes. Then, use email and social media to alert last-minute buyers of your simple, stress-free approach to shopping. “Offer ideas and recommendations, and provide a lenient return policy, free gift-wrapping or free delivery,” she adds.
9. Offer added value. Little extras mean a lot to harried consumers during the hectic shopping season. Offering holiday treats, free samples, gifts with purchase or free delivery are all great ways to reward customers and boost sales.
10. Plan for Black Friday, Small Business Saturday (www.smallbusinesssaturday.com) and Cyber Monday. These key shopping days, which fall just after Thanksgiving, are vitally important for retailers. Have a plan for how you will market your business to attract customers on each day and how you will ensure adequate staff and inventory to meet the demand.

Rieva Lesonsky is founder and President of GrowBiz Media, a media company that helps entrepreneurs start and grow their businesses. Before launching her business, she was Editorial Director of Entrepreneur Magazine. Follow Rieva at Twitter.com/Rieva, read her blog at SmallBizDaily.com, and visit her website SmallBizTrendCast to get the scoop on business trends and sign up for free TrendCast reports.

Before:

After spending four years as a tour guide for the biggest tour company in Los Angeles, Mark Morrow was ready to strike out on his own. He wanted to create his own boutique Hollywood sightseeing experience—one incorporating film clips, music, photographs and stories into tours of Hollywood and Beverly Hills. His wife, Natcha, handled the administrative work to get the company off the ground, and in August 2010, the Morrows visited the Small Business Development Center at Santa Monica College for startup assistance.

Best Advice:

SBDC Business Advisors Ron Sardisco, Trevor Schickman and McAuther Jeffrey Francis helped the Morrows fine-tune their concept, write a business plan, get startup financing and open for business.

Lessons Learned:

• Know your options. The SBDC helped the Morrows do financial projections to determine how much startup capital they needed, then assisted them in researching possible financing sources.
• Details matter. The Morrows had a business plan, but their Business Advisors suggested changes that would better position the startup to obtain a loan. “We learned the importance of focusing [our plan] and presenting a unique angle,” Natcha explains.
• Anticipate obstacles. The SBDC recommended several lenders, but “it wasn’t an easy process, and we had many rejections,” says Natcha. Then the Valley Economic Development Center came through with a small loan. Although it wasn’t the full amount they wanted, with the SBDC’s guidance, the Morrows developed alternative financial projections and gained enough confidence to invest their own money in the startup.

After:

The loan enabled the Morrows to finance a Mercedes Benz Sprinter van, develop a website showcasing their multimedia tours, and print flyers and cards to distribute to local hotels. Since launching in June 2011, Legends of Hollywood Tours has served more than 200 clients, conducted tours daily, and developed relationships with hotels including JW Marriott at L.A. LIVE Downtown, Omni Downtown, Redbury Hotel and Holiday Inn Express. In August 2011, they joined the L.A. Area Chamber of Commerce.

“Our short-term goal is to build our reputation as the best tour in town and fill the van up every day,” says Natcha. “We want to gain more business from the hotels we are servicing and expand our base to many other hotels in Hollywood, Beverly Hills and downtown L.A.”

Long term, the Morrows plan to buy at least one new van per year, hire employees and earn coverage in travel magazines and websites. The SBDC will continue to be a resource for growth. “We would like to grow gradually and be stable with quality control,” says Natcha, “and the SBDC helped [us] get off on the right foot.”

Here is a sampling of some of our recent tweets:

• Student finds success fixing phones: http://t.co/u5xdgh0
• “To grow his business even further, Campos worked with business advisers at the Small Business Development Center… http://fb.me/CfKOfR4J
• Happy Social Media Day http://on.mash.to/bVcGZU RT @mashable
• Come to ” Mastering QuickBooks I: The Basics – $50″ Saturday, July 9 from 9:00 am to 1:00 pm. Mastering QuickBooks… http://fb.me/LckTONbt
• SBDC at Long Beach City CollegeTraining Schedule for July 2011 http://fb.me/CntLtOe2

1. Join the club. Industry trade associations, niche organizations such as groups for minority or women business owners, groups your key clients belong to and your local chamber of commerce are all great places to make new contacts.
2. Set goals. Know what you are hoping to achieve from a particular organization. Do you want to meet prospective clients, potential partners, job candidates or suppliers? Setting goals will help you assess whether an organization is right for you.
3. Be prepared. In any situation where you’re meeting new people, bring an open mind and a friendly attitude. Also bring business cards and be ready to describe what your business does in simple terms (“We help small businesses save money by preparing their taxes”). Greet everyone with a smile, eye contact and a handshake.
4. Mingle. Never spend all your time at an event talking to one person or group. Think of several ways to politely end a conversation and move on. (But first, get contact information from those you’ve been talking to so you can follow up later).
5. Follow up. When you meet someone you’d like to get to know, follow up. Use social networking tools to link up on LinkedIn, become friends on Facebook or follow each other on Twitter, and you’ll also be exposed to the person’s network of contacts.
6. Take it offline. Connecting on social media is a good start, but to truly foster a business relationship, you need to spend time face-to-face. Suggest getting together for coffee or a meal to share more about your businesses and how you might work together.
7. Keep in touch. Business relationships are like flowers-without nurturing, they wither and die. Make it a point to regularly connect with your key relationships, whether it’s retweeting their tweets, mailing a card or meeting for lunch.
8. Harness technology. Contact management software can help you track information about your contacts so you don’t have to remember birthdays, children’s ages or hobbies. The software does it for you and sets up reminders for actions like emailing or sending birthday cards.
9. Be patient. Business relationships take time to pay off. It may take years of talking and planning with someone before you actually end up working together or seeing any results from one of their ideas, referrals or suggestions.
10. Aim to give, not just get. Of course, you want to benefit from business relationships-but that’s more likely to happen if you have a generous attitude. Focus on how you can help your contacts, and you’ll find that you get more than you give.

Rieva Lesonsky is founder and President of GrowBiz Media, a content and consulting company that helps entrepreneurs start and grow their businesses. Before launching her business, she was Editorial Director of Entrepreneur Magazine. Follow Rieva at Twitter.com/Rieva and visit SmallBizDaily.com.to sign up for her free TrendCast reports.

1. Assess their needs. What do your employees need to learn-both for their current jobs, and to move up in your company? Equally important, what do they want to learn? Employees will be more motivated if they have a say in the training they receive.
2. Join the group. Industry associations and trade organizations offer a variety of training options, including conferences, seminars, certifications and more. Take advantage of these learning opportunities.
3. Cross-train. Have employees train each other in how to do their jobs. Not only will your staff learn new skills, but you’ll benefit by having backup when one employee is out sick or on vacation.
4. Go online. A simple online search will reveal a wide range of online webinars and training courses, many of them free or low-cost. This can be a great way for employees to learn at their own pace and when it’s convenient for their schedules.
5. Brown-bag it. Host weekly brown-bag lunches at your business where you or other employees talk about a topic of interest. For instance, the person who handles marketing at your business could explain how your company uses social media and how employees can participate.
6. Send them back to school. Community colleges and adult education programs offer lots of courses relevant to your employees, from how to use specific software to accounting and marketing classes.
7. Read all about it. Have everyone on staff read a business book on a topic that will help your business. At the end of the month, lead a lunch meeting where everyone discusses the book and what they learned from it.
8. Start a mentorship program. Having experienced employees mentor younger ones is not only a good way for novices to learn, but also a great way to ensure the knowledge and experience of older workers is passed on.
9. Spread the wealth. Can’t afford to send an entire department to a particular training program or conference? Choose one employee who’s a good presenter. Have that person attend the program, then come back and train the others in what he or she learned.
10. Visit the SBDC. Talk to your local SBDC’s Business Advisors to find out about training programs and solutions offered in your area.

Rieva Lesonsky is founder and President of GrowBiz Media, a content and consulting company that helps entrepreneurs start and grow their businesses. Before launching her business, she was Editorial Director of Entrepreneur Magazine. Follow Rieva at Twitter.com/Rieva and visit SmallBizDaily.com.to sign up for her free TrendCast reports.

Toneka Pires and Linda Okwor had lots in common when they met at a fitness competition.
Both had business degrees, successful corporate careers and a passion for fitness. After being
laid off, they combined their business acumen with their passion for health by launching
BWell Fit, which provides personalized fitness programs incorporating nutrition, exercise,
supplements and motivation. They initially visited the SBDC at Santa Monica College for help
choosing a form of business, but gained much more.

Best Advice:

Working primarily with SBDC Business Advisor Ron Sardisco, the partners got help with
“everything a small business needs—from incorporation to funding, running the business,
taxes and accounting,” recalls Okwor. They took classes in QuickBooks, setting up a small
business, and developing a virtual presence utilizing the social media and promotional
potential of the internet. They developed a business plan and a marketing plan, and obtained
a $25,000 bank loan.

Lessons Learned:

• Know when you need help. With business degrees, corporate experience and an
impressive array of fitness credentials, Okwor and Pires seem like the last people
who would need startup help. But they knew entrepreneurship was a whole different
animal. “Rather than reinvent the wheel, we needed someone who had
been down this road before to guide us,” says Pires.
• Get out there. Word-of-mouth and referrals are key for BWell Fit, so “people
need to see us and know who we are,” explains Pires. The marketing plan they
developed with the SBDC boosts their profile through public speaking, radio and
TV appearances, networking and social media tools.
• Details matter. BWell Fit began seeking a loan in October 2009 and obtained it
in November. “It wouldn’t have happened without the SBDC,” says Okwor. “Our
business plan was 64 pages, very detailed. [The SBDC] guided us through the
financial portion, from beginning to end.”
• Know when to say no. “We’ve had opportunities where people want to partner
with us and work on [new] projects,” says Pires. “Ron would say, ‘If it’s not directly
impacting your business, you can’t do it right now. There are only two of you.
If you spread yourself too thin, you’re never going to grow.’ We need that—we
need someone to keep us on track.”

After:

The SBDC helped BWell Fit narrow its focus to bridal fitness. Targeting that niche, the
company has grown to three employees. “We want to corner that market,” says Pires. “We’re
developing strong relationships with wedding vendors so we can cross-promote.” They
recently launched an online store selling supplements, skin-care products and DVDs.

As their business grows, Pires and Okwor will keep working with the SBDC. “They are a wealth of
knowledge,” says Okwor. “Knowing that there’s someone there to support you means the world.”

1. Get professional help. Maybe you can do your taxes yourself—but is it worth your time? By keeping up-to-date on tax law and knowing how to use it to your advantage, a good accountant saves you more than he or she costs.
2. Start early. Whether you use an accountant or do it yourself, don’t wait until April 10 to get started—give yourself plenty of time in case last-minute problems arise.
3. Get organized. Don’t show up at your accountant’s door with a shoebox full of receipts. Gathering the necessary documentation and organizing it ahead of time makes everyone’s job easier, saving time and money.
4. Go to the source. Visit the IRS Tax Season 2010 portal for tips and information on maximizing your tax credits. For changes to state tax laws, find your state Web site here.
5. Go ahead, deduct that home office. In the past, many entrepreneurs were afraid a home office deduction would spur an audit. But the IRS has relaxed eligibility rules for this deduction, and if you legitimately qualify, you can take it without fear.
6. Fund your retirement account. If you have a traditional or Roth IRA, there’s still time to lessen your taxable 2009 income by contributing to the account before April 15, 2010.
7. Don’t forget startup expenses. The costs of launching a business are considered capital expenses, and you can deduct up to $5,000 of them your first year in business—but not until your business is actually open.
8. Understand audit risk. The IRS is stepping up enforcement activity, and those who file a Schedule C are particularly at risk. That’s all the more reason to use a professional tax preparer.
9. File electronically. The IRS encourages small businesses to e-file. If you expect a refund, e-filing lets you get your money faster. And when you e-file, the IRS checks your return for completeness, minimizing your chance of errors.
10. Plan ahead. Proposed federal stimulus actions could mean many more tax breaks for small businesses in 2010. Talk to your accountant about what you can do now to lower next year’s tax bill.

Rieva Lesonsky is founder and President of GrowBiz Media, a content and consulting company that helps entrepreneurs start and grow their businesses. Before launching her business, she was Editorial Director of Entrepreneur Magazine. Follow Rieva on Twitter@Rieva and read more of her insights on SmallBizDaily.com.