3 Things You Should Know About Small Business: September 4
NEW YORK ( TheStreet) -- What's happening in small business today?
1. Small vendors outshined corporations at the Democratic National Convention. TheStreet's Joseph Deaux featured several small vendors that set up shop in downtown Charlotte for the kickoff of the Democratic National Convention.
Vendors who paid the $650 fee to set up shop on blocks nearby the DNC gave mixed reviews on whether the event was good for business.
Local food vendors Jewell Treats and Dave & Fran's Southern Café were experiencing success. Tami Jewell, who runs the cupcake shop in a nearby mall, said the exposure has been a welcome development for the business. Other vendors, including artist Richard Wilson and Omari Spann, weren't having as much success, saying the rain showers were contributing to a lack of interest in their prints and drawings.
2. Bestselling ideas can come from anywhere. Skincare company founder Ido Leffler shares in an Inc.com article the secret to the making of Yes To Carrots most popular item, its cucumber facial cleansing towelettes and how the idea almost got rejected.
Leffler described the relationship between him and his co-founder Lance Kalish as product guy and finance guy, respectfully. So when Kalish shared his "game-changing idea" to create a better (and earth-friendly) disposable facial wipe, "product guy" Leffler almost let it slide. But it was Kalish's persistence that led Leffler to appease him and create a mock-up item to pitch to retailers.
Retailers took great interest in the item and after a rushed three-month product development and one very unofficial way to pick the best fragrance to use on the wipes (think patrons at a bar with free margaritas), the Yes To Cucumbers Facial Towelettes were on shelves and quickly became the company's No. 1 selling product.
"So, my advice is simple: You're brimming with brilliant ideas and sound insight into your customers' behaviors and desires. But you're not the only one. Keep your eyes and ears open to ideas from everyone -- even the finance guy. They could be brainstorming your next big thing," Leffler writes.
3. Making change a success in your business. Every business owner knows that in order to stay ahead of the game, businesses need to adapt to change. Getting employees on board with that change is another story. And change doesn't only mean new skills training for employees, but also setting up your environment for change, says FOXBusiness.
Instead of pouring all your resources into new training for employees, small business owners should allot 20% of time to "equipping employees with the tools for change," 40% of the time "getting the staff aligned with the change" and the other 40% "making sure that change is sustained," according to Forum, a strategic consulting firm.