Small Business Trends

It’s time for a rejuvenation in the entrepreneurial spirit both in the United States and around the world. As Jeff Cornwall notes over at The Entrepreneurial Mind, indicators are certainly not good, and Jeff cites some fairly convincing stats and data showing that it’s time to chart a new course. Still, there is cause for hope. Because the key to any economy, no matter how dismal, is entrepreneurship and the kind of inventiveness seen in small business everyday. We hope you see it in the links below. We’ll present some sobering facts first, but the silver lining? Even out of some of the tough times, good things may come. Jeff’s numbers also show the growth of what he calls the “accidental entrepreneurs.” Let’s hope they and the rest of us can learn great things from what follows.

Policy

An economy in critical condition? More specifically, Jeff suggests it’s the economy for entrepreneurship that may be on vitals, but since most economic growth and recovery is dependent upon small business and entrepreneurship that’s pretty much the whole economy. Though businesses not politicians create jobs, Jeff gives a good indication where the finger of blame for this sorry state of affairs can be pointed. The Entrepreneurial Mind

Here’s some more data. NFIB’s chief economist Bill Dunkelberg sums the problem up best. “What businesses need are customers, giving them a reason to hire and make capital expenditures and then they may have the need to borrow to support those activities. Washington doesn’t seem to understand this. Their proposals to improve the economy typically focus on easing credit conditions or giving businesses incentives to spend. These policies are unlikely to help most small businesses whose main problems remain poor sales and uncertainty over the economy.” National Federation of Independent Business

How does your country stack up for entrepreneurship? The GEM creates an annual global report of the state of entrepreneurship. Their findings compare nations on many levels to get a read on which economic climates offer the best opportunities for entrepreneurship and thus in the rebuilding of the global economy. Look for data on your specific country to learn more about where you stand. Global Entrepreneurship Monitor

Tips & Tools

Do you use these free tools for business? You may have heard the old expression, “If it’s free, it’s for me.” And that’s just how entrepreneurs should feel about these 11 tools. A shout out to Mike Holmes of MicahealGHolmes.com who was good enough to share this link at the BizSugar community. As Mike explains, it’s important for entrepreneurs to maximize every opportunity while minimizing their costs, and if you’re not using these tools yet, the list can be a great place to start. Business Insider

The double lives of entrepreneurs. We usually try to provide the newest content here at Small Business Trends but could not resist this great video tip from Geno when found the link through a more recent post on his Affiliate Marketing Blog. Though Geno is speaking very specifically about Twitter in this video, his point is more generally applicable to the entrepreneurial life in general. As a leader and the head of your business, your personality and personal brand will be important, but remember to balance the personal aspects with the business you operate and how it meets customers’ needs. Geno Prussakov

6o tips for boosting your marketing influence/effectiveness online. It’s no secret that much marketing is done online these days. We’ve spent the past three small business roundups talking about some of the most influential social media platforms around–Twitter, Facebook, LinkedIn–and how they have changed the face of marketing/networking forever. But how can you be effective in this arena, something that is a prerequisite for success no matter what your product or service. A big thanks to another BizSugar member, Walethia Aquil, for sharing this great resource. HubSpot Blog

Signs & Wonders

The writing on the wall. We try to be optimistic about the economy and about entrepreneurship and small business here at Small Business Trends, but David Rosenberg, chief economist and strategist at Gluskin Sheff, and other experts do point to gloomy predictions about the state of the economy. Still, if small business and entrepreneurship are the best answers for financial recovery obviously David’s “13 signs” we’re in a depression should not be a deterrent. Business Insider

Don’t worry. Be happy. And before we start wailing and gnashing our teeth, let remember that not everyone even amongst big time analysts is all that sure the economy is really in such a sorry state. Take James Altucher, a managing partner of Formula Capital, who counters Rosenberg’s gloomy predictions point by point in a come back that should give many hope and should spur on entrepreneurs and small business. WSJ

What we can do

Sign this online petition For National Entrepreneur Day. OK. Maybe signing another online petition doesn’t sound like much of a solution, but raising awareness of the importance of entrepreneurship, not just in the U.S. but also worldwide, is a pretty important thing. Our good buddy and strong supporter here at Small Business Trends Joel Libava brought this to our attention but, when you visit the main page from his blog post, you’ll find there are plenty of other big guns onboard too. The Franchise King Blog

Don’t be boring! And when starting on your own entrepreneurial journey, one thing is absolutely certain. As Seth Godin points out in this wonderful video resurrected from back in 2003, recession, economic downturn or no, the most important factor in getting your business to succeed may not be price or quality but just getting people to pay attention. As Alastair Kay, who posted Seth’s message on his own blog recently, notes, ” It might be better to be bad or bizarre than boring.” SiteStream