Archive for the ‘Small Business’ Category

The Startup Team and Life Changing events

When your team is lean and everyone is wearing multiple hats, it causes quite the glitch in everyday functions when one (or multiple) team member experiences a life changing event. How do you prepare for it? There are some situations that are emergency impact that cannot be prepared for, but others can.

Since the inception of KikScore there have been a mixture of life changing events across the team…
— 3 new births across different team members (all first time parents),
— spousal job changes
— infants becoming toddlers
— loss of pets (and additions)
— demanding day job impacts
— and an upcoming one for me – moving cross-country to ‘the big city’ for an amazing new day job opportunity.

So how does a small night/weekend entrepreneurial company stay focused?

It is very easy for the impacted member to get caught up in the life event and KikScore takes a back seat.  While not the intention, human nature makes us selfish.

We can’t let this happen as the business would in turn suffer.  As a small team, we need to regroup and delegate items out to others  during the transition time, arming the business with communication channels to stick together and react to customer needs.

Some other tips that can prove useful are to continue to conduct weekly meetings to re-establish expectations. The team member going through the transition (me soon) should be able to commit to a once/week discussions to ensure they stay informed and can lend a hand as their life calms down and they rediscover their head.

How has your small business coped with  life changing events?  Please share your story with KikScore.

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Archive for the ‘Small Business’ Category

Crime, crime and more crime! The Symantec Report and the huge increase in fake websites

“We’re baaaaak!”(cue creepy music) I thought I’d do something different by giving you the theme to the twilight zone instead of Psycho’s music.Who’s back…. cybercriminals! Yes, I know most of them didn’t go away, but according to Symantec’s latest cybercrime report, 65% percent of internet users worldwide have already been victim’s of cybercrimes(see Tech Crunch’s article). You should however, take this with a pinch of salt. Cybercrime is a threat, but Symantec’s report coincides with the release of it’s latest versions of it’s Norton software.However, the figure does seem close to the actual thing. According to the report, the US ranked third among nations whose internet users fall victim to cybercrimes. Speaking of Cybercriminals, did you know that cybercriminals are creating 57,000 fake sites per week(Security Week). (scream) Guess which ones are the top 10?(cue the quiz music!) Done? Great! The top 10 are

1. Ebay(I’ve never been on here)
2. Western Union
3. Visa
4. United Services Automobile Association(better known as USAA)
5. HSBC(it doesn’t seem to stand for anything)
6. Amazon
7. Bank of America
8. PayPal
9. Internal Revenue Service(I knew government sites were confusing, so maybe that makes them easier to duplicate?)
10. Bendigo bank(Anyone heard of this?)

Search engines are changing their algorithms to try and mitigate the situation. However, they can only do so much.  Here are some tips for spotting fake websites.

1. Go look at the URL. Not sure how to spell the name? If they gave you a business card, chances are they have the site URL on it, copy it exactly. Make sure the letters and numbers in the URL look right. A difference in a single letter or number can mean it’s a different site.
2. Make sure the links work. If you’re using chrome, you can right click and open the inspect element window and if you can read HTML scrutinize the page to your heart’s content.
3. If a site requires personal information and you’ve never heard of the business before, visit the Better Business Bureau and see if the company is accredited.
4. If you get an email from your bank, call them.

Anyone got any other tips?

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Archive for the ‘Small Business’ Category

How Insomnia and the Internet Worked Together to Ruin My Credit Before My 21st Birthday

Hello, all! (Or “Hello, none” – whatever the case may be.) My name is Isabela and I’m the newest member of the KikScore team. I am a sophomore at the University of Maryland, majoring in Waitress – uh, English – and an avid football fan. I mention the football because my Redskins kicked off their season last night against the Dallas Cowgirls. It was ugly, but it was a win, and if this first game was any indicator of the season to come…. See you all after the Superbowl. Consider this a disclaimer.

I’d like to kick off my relationship with all (or, again, none) of you by telling you a little story about my personal history with online shopping. Let’s entitle this one, “How Insomnia and the Internet Worked Together to Ruin My Credit Before My 21st Birthday” (which is in 5 months and 25 days, in case you were wondering).

I have never been good at sleeping. My father is an insomniac – sneaking out in high school was not an option – so when I stopped sleeping through the night sometime in my early teens, I didn’t find it unusual. Daytime was for wandering drowsily among the living, while the night was for reading, watching TV, and perfecting the preparation of the Velveeta grilled cheese sandwich. When, at age 16, my parents bought me my first MacBook computer, everything changed. I discovered online shopping. I used my hard-earned waitressing money – deposited into checking almost as soon as it was received – to buy things. I bought clothes, makeup, gifts –even a Wondermop (an impulse infomercial purchase at 4am on a Tuesday). My checking account balance frequently dipped into the single digits, but all my new toys provided easy consolation.

At 18, during a particularly late shopping session, I made a new discovery: financing. That’s right, folks. Did you know you can buy things and not pay for them? Two weeks after my 18th birthday, I filled out my first credit card application. Two weeks after that, the plastic arrived in the mail. I was more excited about that envelope than I had been about the one that let me into college just a few months before – this one came with goodies. Days later, I filled out a second application, and days after that, a third. And then I used them. I was vaguely aware of the existence of a thing called interest – that is, the tax you pay for the privilege of making a purchase you can’t actually afford – but what did that matter to me? All my interest was 0%! So I bought things, and it was so, so, so, so good.

Two years and some months later, I am under control. Hard work and the fear of God instilled in me by America’s financial crisis have kept my credit card balances to a minimum (compared to, say, Citibank) and I keep telling myself that one day I’ll make the shift to cash-only. I share this anecdote not as a horror story about credit – there are those whose experience has been far more damaging than mine – but simply as an example of just how easy it can be to get wrapped up in the consequences of financial decisions made on the Internet, where nothing actually exists. Don’t get me wrong – online shopping is good. It’s the future of retail and it allows informed buyers to make decisions with their banking information in front of them – a practice I support (and wish I had adopted). But for those members of my generation who are considering accepting those low-interest offers that have just recently restarted their trickle into our inboxes, my advice: take it slow. Your Capital One will still be there in the morning, and PayPal can wait. Soon, I will begin my move back to cash-only, letting my cards sit in a drawer gathering dust while I happily type my debit card number into the computer (on trusted websites only, to be sure). Yes, one day soon I’ll start to stick with cash. But not just yet. My birthday’s coming up, and I’m going to Vegas.

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Archive for the ‘Small Business’ Category

New V. Old: Can You Trust One More Than Another?

Experience versus Energy.  Wisdom versus Enthusiasm.  Age versus Youth.  Which is better?  Which is more trustworthy?  Very similar to the question, which is a better movie Transformers or Transformers 2, there is no easy answer.  Both have their merits. 

With a older, established company, you have a track record and proven technology.  Whatever problems they may have, the older company has established itself in a competitive market.  Established, older companies also have a lot more to lose (like the owner’s or shareholders’ assets), so they engage in less risky activity.

The newer company is more cutting edge and usually offers more services (or at least offers an easier way to access their services).  In terms of security technology, they are usually more up-to-date on the latest industry trends.  On the other side, they are hungier and, usually, more aggressive (i.e. cutting corners).  Newer and startup companies also, usually, have no money.  So they are “judgment proof”.

So, who do you trust with your business (or shopping) old companies or new ones?  Also, do you like Transformers or Transformers 2?

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Archive for the ‘Small Business’ Category

Why I missed my first class in my first week of college

So, I just finished my first week at the University of Maryland-College Park.The Entrepreneurial Opportunity Analysis class I’m taking is fun;I learned that altogether Blockbuster is worth about $11 million which, apparently is a two night’s stay at a Daily Inn. I’m finding Philosophy to be difficult and History to be what we already covered in high school(so far).

My schedule’s not too bad, although I could do without the class that ends at 8:45 p.m. However, I missed my first class Wednesday because of the situation in Silver Spring. I have a  yr old brother, whose school started yesterday. Since my first class was at 3 in the afternoon, my mother asked me to watch him. So, we started from the house at two and were on the beltway when we hit traffic at a standstill. We turned on the radio(to WTOP) and heard that there was a gunman in the  Discovery Headquarters in Silver Spring. Immediately, my mother turned towards Bethesda.  Then, we called my father for directions and he told us to take the East-West Highway, which would, eventually,hit Baltimore Avenue. However, the local roads were all congested and since we didn’t know the area really well, we had to rely on my father and the maps that we had in the car for directions. We wound up getting to College Park a few minutes before my next class.

This reminded me of the Crisis Data summit I attended a few weeks back. It’s situations like these where social media becomes very useful. For example, someone  could have tweeted saying “Gunman in discovery bldg. beltway clogged. take alternate route”(Yes, this is what I think the twitter post would have looked like, except for the periods; those are mine.) Then, my father could have read it and then called us and, if we hadn’t gotten on the beltway already, we could have taken an alternate route. I anticipate that with smartphones becoming more common, a social media network will become more able to deal with these crises and everyone on that network will be fully informed of every crises that takes place.

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Archive for the ‘Small Business’ Category

Is a Trained Entrepreneur More Likely to be Successful in Small Business?

When KikScore came to be, the team was comprised of members from a variety of backgrounds and influence.  We banded together and outlined the best approach across our experience to build the business — which is still fluid and we continue to review our progress and make changes, you have to!

We had many say ‘what do you know about starting a business’?  We answered, the practicality of having those lessons learned from previous experience is critical in making a new business a success.  And of course we all have some entrepreneurial zest within us.

There are always those out there thinking that the quick fix money maker opportunity is business for yourself — think again my friend, it takes work, lots of work and perseverance.

It amazes and intrigues me that there are actually college programs geared at entrepreneurship.  Are they really more successful in the long run?    I had a good friend who went into one of these programs a few years ago… unfortunately I’ve lost touch with him, but last I’d heard, he was working for a big business.

Do you know anybody who has taken these classes and has a billion dollar business today?

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Archive for the ‘Small Business’ Category

5 Post-Labor Day Steps To Help Your Business Close 2010 Strong

I went to Ohio for Labor Day weekend to visit my family and also be surrounded by Ohio State Buckeye madness (come on you beat Marshall, lets see what happens this week against Miami, Fl!).  The 8 hour trip from DC there and then back again today got me thinking that we now only have a little less than four months left in 2010.  Wow, this year has passed quickly and I got to thinking about my “to do” list for KikScore.  I kept coming back to one thing as we left Ohio and made our way through WV, PA, MD and finally DC – – –  I have to get my rear end in gear!  So here are my thoughts on how I am going to approach the last four months of the year to help our team at KikScore increase our chances of success.  Maybe these steps will help your small business and startup:

1) Revisit 2010 Goals – As the months of 2010 have passed by, we are constantly reminded of what we want to accomplish by the end of the year.  Now is the time to look at those 2010 goals again and take a hard look in the mirror.  Many things have happened in the last few months which may have switched the focus from one goal to another or to a new objective that popped up mid-year. Now is the time to look at your collective goals and objectives and determine what can be accomplished by focus, planning and executing. We did this back after Memorial Day when we discussed checking our goals at that time! Now is the time to eliminate the items that you will not be able to accomplish and really devote the time, energy and effort to goals and objectives that can be accomplished or substantially progressed by December 31, 2010.

2) Outline Concrete Steps to Execute on Your Plan – For each of the key goals you see a path to accomplishing, make sure you have a plan on how you are going to accomplish these items by the end of the year.  Not just a general plan, but outline concrete steps that you can objectively measure your progress on through the coming weeks and months.

3) Get Low Cost Help – So one of the conversation pieces between my wife & I (between trying to soothe 8 month Asha to sleep through the mountains of West Virginia), was how more small businesses and startups should use high school and college interns.  We at KikScore have a few interns and they have been a tremendous help.  One of them even writes for the blog and her post on identity theft and kids’ social security numbers has a KikScore blog record for most Retweets on Twitter!  So when you are looking at your goals and your overall plan to achieve those goals, carve out a few discreet projects that an intern can help you with.  That help will free up your time to focus on other key steps in your implementation plan.  Some great sites to find interns are your local college career planning websites.  You can visit those sites and fill out a job opening for any type of position.  We have received applications from students of University of Maryland, Cornell University and American University!  Interns can really help give you “more hands” around the business.

4) Talk to Your Customers – As we push to meet our 2010 goals and close the year strong for our business, we are making an effort to talk to our customers so they can give us feedback.  Customers can sometimes provide very useful and even unexpected information and insight into what your business should focus on.  Also one idea for your small business or startup is to simply ask the question what do your customers need to help them close the year strong.  You may even get some information that can help you increase your own sales just by asking your customers what else you can do to help them!

5) Measure Team & Business Progress Daily, Weekly & Monthly – Often we all get buried in the daily slog of activities and endless distractions (even more of a risk with NFL season starting & Fantasy Football!).  What results from that is we do not track our progress and then deadlines slip, tasks do not get completed and we end up hearing the ageless excuse – “I am too busy, I don’t have time for that.”  For entrepreneurs and especially operators of small businesses and startups, that excuse can destroy your chances of business success.  The remedy is accountability.  That is accountability to yourself, your team and to the plan that you have developed to complete the goals.  We have discussed the importance of accountability previously in this post about keeping your business focused.  So every day, at the end of each week and month set aside time to review your task list, the overall plan and where you are at for meeting the objectives/goals.   Then make adjustments accordingly to help you execute on your plan.

And always remember the quote of Hal Moore: “There is always one more thing you can do to increase the odds of success.”

Please tell us your thoughts on how you are going to close strong in 2010.

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Archive for the ‘Small Business’ Category

Comics!

So, I started college this week. Not too bad, although the walk is a bit steep and I could do without the mosquitoes and gnats in the evening. Anyway, here are some comics for your enjoyment, since I couldn’t do a full post this week.

So what do you think about these and the idea that technology is so prevalent in our society?

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Archive for the ‘Small Business’ Category

Video: Business & Management Lessons from the Girl Scouts

https://www.youtube.com/watch?v=WAaDJY1UHq0

Here is a great 4 minute video from the Harvard Business Channel from YouTube on some great management lessons from the Girl Scouts.  Check it out and let us know your thoughts!  Who would have known that the folks that bring us Girl Scout cookies could teach us so much about managing a business.

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Archive for the ‘Small Business’ Category

Customer Service 2.0: Is the Phone Number Dead?

First off, you know you’re getting old when you begin a blog post with the phrase “this new generation”…and then comment on how things used to be done.  Of course, you’re probably not that old if you’re writing a blog post in the first place, but my point is, when you start noticing differences, you’re aging is noticeable.

But this new generation has a different view towards customer service.  In my day (ahhh, the 90’s…Nirvana was popular, there were new “Twilight” books, and I had a full head of hair), customer service meant an 800 number.  A big break through was an email address, but you never really relied on getting a message back…so you called customer service to get an answer.

As our customer base at KikScore grows, there is something very noticeably absent — that would be phone calls.  Instead, people are looking at our product videos, sending us emails, asking questions on Twitter.  It’s great in many respects — phone calls are time consuming to process and that costs money.  But the written word and videos often don’t convey specifically the information what a customer is looking to get…so it can either result in a frustrating customer experience or it results in a lot of interaction to get a question answered.

So, I’m getting older and I can roll with the punches and not complain about how things have changed…but I’m not sure if the extinction of the phone number is a good thing.

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