Chicago is the third-largest city in the United States, yet somehow the name “Chicago” isn’t associated with the Internet industry in the same way that cities like San Francisco, Seattle, and New York are. Groupon, however, is starting to change perceptions of the Windy City. Groupon’s total number of employees has skyrocketed from 37 people to over 10,000 in a little over two years, and hundreds of these employees live in the Chicago area.

Obviously, all of these Groupon employees have provided a boost to the local economy. Yet these employees have also given Chicago and the state of Illinois a real boost in morale, as Groupon is one of the fastest-growing web companies in the United States. At a time when people and businesses in Illinois must face the harsh realities of deep recession and a 10 percent unemployment rate, Groupon serves as a beacon of hope.

More importantly, however, is the fact that Groupon has really helped bolster and ignite Chicago’s start-up scene. Groupon’s expansion and $700 million initial public offering (IPO), the largest since Google’s $1.7 billion in 2004, provides a model for start-up companies to follow. This has really transformed the culture and reputation of Chicago, which was never previously identified as a booming tech city. Groupon’s spectacular growth has helped Chicago and the Midwest garner the attention of tech investors.

Groupon has also made great contributions to the local community. Groupon has initiated campaigns that range from fixing broken bikes for the city’s youth to helping with the clean-up of local waterways, the company has worked hard to make an impact. These Groupon campaigns typically last one day and target a specific area, and all Groupon subscribers in or near that area are encouraged to participate. In keeping with the group-oriented nature of the site, individuals not associated with the company can suggest potential campaign ideas on the Groupon website.

As many cities in the Midwestern part of the United States struggle with the recession, auto plant closures, depressed real estate values, and higher than average unemployment, Groupon has shown that these cities can support a thriving tech business. Hopefully, Groupon’s success will encourage investors around the United States to look to the Midwest when launching their next web company or high-tech start-up.

Author Jason Lancaster is a big fan of Groupon and works with BusinessProfiles.com, an online warehouse of company business profiles across the United States and around the world.

When presented with the next great idea, keep in mind these five considerations before taking the plunge.

1.       Too much effort for too little reward

Sometimes a client comes along whose expectations far outweigh their budget. Although it may be a very appealing opportunity, think about whether you will be adequately compensated for the time and effort you put in. You don’t want to forgo quality since that could negatively impact your firm’s reputation and brand.  Try to negotiate with the client explaining why the budget is too low based on the value you can provide. Explain that you can accept partial payments or small business credit cards if their cash flow is tight. If the client is either unable or unwilling to raise their budget, best to forgo the work rather than take it on and then feel resentful.  To avoid bad feelings, you might want to refer the client to a colleague who can work within their budgetary limitations.

2.       The opportunity doesn’t mesh with your business goals

If you are like most small business owners or solo-preneurs, your business likely focuses on offering a specific product or service within a targeted niche. When opportunities arise that don’t fit in with your area(s) of expedtise, it may be best to ignore them so you can keep the business on track with regard to its unique positioning in its market.  As per Josh Taylor, founder of Gateway CFO Solutions, one of the worst decisions a small business owner can make is to try and be all things to all customers and lose sight of your unique value.

3.       You lack the manpower

New business owners in particular can fall into the trap of taking on more work than they can handle. They are so glad for the attention after the slow-going of the initial start-up period that they jump at every opportunity not realizing they are stretching themselves too thin. The result is that they produce low-quality work which negatively impacts their reputation—a mark that can be hard to erase. While you can always outsource the work, this adds another layer of complexity to the business and you may not make a wise hiring if you rush the process. Rather than simply turning down the business, you can refer the client to a colleague and garner a referral fee, making it a win-in for all parties

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4.       The opportunity is not within your expertise

Although it can be flattering to be asked to take on work with which you have no experience, it is probably best to refer the client to someone who knows the work in greater depth. For example, a freelance travel writer may not be the best person to prepare a technically-based instruction manual. You do a disservice to the client by accepting and then fudging through.  Most clients will appreciate your honesty and come away with a very positive view of your business. And, who knows when the client will have a need for someone with your particular area of expertise and come calling again?

5.       The opportunity clashes with your principles

It can happen that a new opportunity clashes with your business ethics. For example, you operate a staffing and recruiting firm and a prospective new client wants you source candidates for a new job opening but mislead applicants with regard to compensation, telling them it is higher than it actually is. The client assumes that when s/he meets with candidates s/he can “talk them down” into accepting the lower wage. However, misleading candidates in such a way does not sit well with your ethics.

In this and other situations where ethics clash with opportunity, rather than alienate the client and burn bridges, best to politely explain that your business model precludes such activity but you would be happy to work out an alternate strategy. Never forgo your principles.

This is a guest post by Daniela Baker. She is a social media advocate at CreditDonkey.  You can read her blogs to find business credit card deals.  You can also read her team’s latest infographic on how to start a home business.

Crowdsourcing

Crowdsourcing is a way for businesses to solve problems and come up with new ideas by asking the public for help. The online crowd works on a solution, and the winners are paid. Crowdsourcing is growing in popularity, from large corporations and now small businesses. The best thing about crowdsourcing is it saves a ton of cash. It’s much cheaper to ask the crowd than it is to hire a third-party. It also gives you access to a wider range of talents, skills and creativity.

Franchises

Franchises are becoming more popular, and they’re sprouting up all over the place with increased fervor. When people want to start a business, they’re often now looking to open a franchise because it comes with a proven business model that’s more of a guarantee than starting a company from scratch. Lots of franchises can be bought for relatively low prices when compared to building your own business.

Telecommuting

Telecommuting also has the benefit that small businesses are looking for – it’s a way to save money. It costs less for everyone to allow employees to work from home, and it also boosts productivity and increases job satisfaction. If you have employees that perform the majority of their tasks from their desks, on the computer and Internet, they’re probably great candidates for telecommuting.

Free Video Conferencing

Lots of businesses have harnessed the power of web and video conferencing, but small businesses are continuing to increase their use of free online services. While large corporations might pay for subscriptions to conferencing services, small businesses can take advantage of free video conferencing with services like Skype and Google+ Hangouts. It’s perfect for businesses with fewer employees, and it increases capabilities for long distance communication and telecommuters.

Local Search Optimization

Small businesses have put a lot of effort into SEO, but now it’s time to ramp up local SEO. More and more local searches are being performed every day, especially with the increased use of smartphones and apps like Siri, which helps iPhone users find local businesses. Small businesses need to make sure they’re in the top of results for local searches, especially by making sure their local directory listings are up-to-date on sites like Yelp and Google Places.

Crowdfunding

Similar to crowdsourcing, with crowdfunding hopeful business owners ask for donations from the crowd based on the merit and personal appeal of their ideas. If you have a dream for a small business but lack the capital needed to start it, crowdfunding is becoming even more of a viable option for securing the cash you need. Rather than take on partners or investors, give crowdfunding a shot.

Mark Weatherford is a college english professor and published author. Mark ensures all his work maintains a high literary standard by routinely using a grammar checker. He is currently editing a summary of The Kite Runner.

Beauty

For some reason, the beauty industry is doing very well, despite lower incomes and joblessness. People still want to look good. Sales of beauty products are up. More people are starting their own barber shops and beauty salons. There is also big growth in the beauty industry for men. Men’s beauty products are selling well. Also, there is more interest in natural, organic, and age-defying beauty.

Green Business

Eco-friendliness isn’t going out of style. More and more people and businesses want to “go green” in order to help the environment, cut costs, and appeal to the public. There are lots of ways you can capitalize on that. You can do consulting for businesses and individuals, helping them find ways to save energy and reduce their carbon footprints. You can manufacture and/or sell green-related products. Anything you can do to help others in their eco-friendly efforts can be a money-maker for you.

Finance

Everyone is feeling the effects of the economy, and everyone is trying to make more money. They’re also trying to make the money they do earn go further. If you have a background in finance or accounting, you can do some consulting and help people with their finances. You might help them invest, save, set up a budget, or prepare or review their taxes. Lots of people are looking for financial advice, and you can profit from giving it to them.

Social Media

Social media has been growing for a while now, but it’s nowhere near finished. Social media continues to be a lucrative field for people with the skills and experience other businesses are looking for. Lots of people still just don’t know how to do it right, or they lack the time it requires to handle a successful social media campaign. Social media consulting businesses are still doing well in today’s market.

Mobile Apps and Local Search

More and more people use smartphones, and businesses have to cater to them. If you’re a programmer or designer, you can help businesses create mobile apps and/or mobile versions of their websites. In addition, local search is very important. If you’re good with search engine optimization, you can concentrate on local search optimization and help businesses increase their local rankings.

Gaming

Gaming is still very popular. If you can develop games, you can profit for them. Lots of bigger businesses want to design games to appeal to their consumers. Mobile gaming is also on-the-rise. Computer games still have tons of followers and online participants.

Elaine Valentine is a 7th grade english teacher and baker who lives in Santa Fe. When she’s not insisting her students proof their work with a grammar checker she is searching for the newest and best banana bread nut recipes.

Tip 1. Do Your Research First

If you have a specific product in mind that you want to sell on eBay it’s worth researching the success that other sellers may have had with the same or a similar product. Don’t just look at the product itself but at how the bidding process develops for a specific item. For many people eBay is a strange phenomenon in that those things that you expect to get plenty of bids often don’t, while products that you think don’t stand a chance, end in a fierce bidding war.

Tip 2. Image is Everything

You can talk up your product all you want in words, but unless potential buyers can see a clear, sharp image of what they are looking for, they are just as likely to bid on another seller’s product. First impressions count is an old but nevertheless, true statement, unless you present your product in the best possible light, you’ll have a hard job selling it.

Tip 3. Selling Your Product

If you have undertaken your research, as suggested here, you’ll see that those people, who have plenty of successful sales, do a good job of advertising their product as well as presenting it. When you want to sell something, the most successful technique is to emphasise the benefits potential buyers will get if they buy your product.

Tip 4. Get the Gen on Shipping and Delivery

When you buy something on eBay, it’s taken for granted that the seller knows all about shipping and delivering that product to you. Find the shipping or delivery approach that is best suited to you, i.e. that it is reliable and cost effective. Shipping costs are always added on to the final price that the bidder pays. Your eBay listing should state what delivery method you use and the actual cost to the buyer. Make sure that you have a good supply of bubble wrap rolls for packing breakable or fragile goods, and that you have plenty of cardboard boxes for large or grouped items.

Tip 5. The Customer is Always Right

Get known for the great customer service that you offer as this should provide you with positive feedback, which is extremely important if you want to develop a successful business on eBay. Offer buyers a range of payment options, e.g. credit card, debit card and paypal etc. Make sure that grouped items are individually wrapped and packed into cardboard boxes.  Make sure that your terms and conditions are clearly listed so that the customer knows exactly what to expect. Don’t drag your heels if you have to make a refund, being businesslike about the whole process is a way of getting positive feedback.

This post was written by Crispin Jones on behalf of UK Packaging who supply cardboard boxes and bubble wrap rolls.

To Prove That You’re Serious

You cannot simply walk into a bank or approach investors without a business plan. If you do explain your idea to investors, they will begin to ask questions about how you plan to make your business work, who your target market is and whether or not there is competition in the field. Without a written business plan, you may not have the answers needed to satisfy them. A business plan proves that you’ve thought things through, done your research and proves that you’re serious about your business.

To Obtain Financing

A written business plan will help you better understand how much money you need to get your business off the ground. It will also allow you to write out where the money will be spent, which banks and investors will enjoy seeing.

To Define Your Goals

It’s not enough to say that you want a to start a business selling cupcakes, you have to set goals for the business. With a business plan, you can write out the goals for your business, when you hope to achieve them and what it will take to make it happen. This ensures that your business stays on track.

To Better Understand Your Customers

You cannot start a business with the hopes of attracting every customer. Each business has a target market and once you have a firm grasp on who your customers are, you’ll have an easier time marketing your business. For example, you might sit down and determine that your cupcake business will reach out to women age 20-30 who are looking for a decadent treat.

To Determine If the Business Will Be Successful

Last, but not least, a written business plan can save you a lot of time and money. As you write out your business plan, you’ll be able to see whether or not the business is a good idea. This can save you from years of hard work trying to make a business successful that just isn’t needed.

As you can see, a written business plan can mean the difference between success and failure. It can also mean the difference between getting the funding you need or having to do it on your own.

About the Author: Kristie Sankaran is a professional business consultant who specializes in helping business owners create clearly defined plans and goals. In her spare time she enjoys searching www.goldenmoontea.com for her favorite oolong tea drinks and other new blends.

Use social media

The arrival of social media has made marketing much easier for small businesses as it has provided direct access to huge networks of potential consumers and customers, without having to pay for advertising or spend on expensive marketing campaigns. All you need to get started is a Twitter account and Facebook page and you can start building up followings you can use to spread the word about new products and services and generate publicity before you launch. Both these sites are highly reciprocal and you can often get people to ‘follow’ or ‘like’ you simply by following and liking them first. Populate your pages with some interesting updates and images and then be as active as you can, as few people will be interested in subscribing to pages that don’t really do much. Blogs are also very useful for generating interest in your business, whatever it is you might be selling. You may not think you can produce interesting blogs on bathroom tiles or shampoo but you can! And to a customer looking for more information on these subjects, blogs can be a goldmine of information, which they will recommend to others either online or ‘in real life.’

Develop a decent website

You can’t ignore the power of online marketing if your business is going to be a success and in order to harness that full you really need a website. The influence that websites have is quite considerable and a clear, attractive and well laid out site can work wonders for your business. Conversely, if your website looks amateurish or doesn’t function properly you could damage your image and may lose trade. Once you have your website structure then fill it with interesting, appropriate content that is optimized for search engines and provide links to it through all your social media outlets.

Get the word out

Self-publicizing can often be a bit of a challenge as no one really wants to seem like a limelight-loving hog. However, when it comes to a business this kind of promotion is much easier to do and absolutely essential to driving your company towards the success you are looking for. Most of this can be done for free – posting online on relevant forums and chat rooms, guest posting on blogs, emailing trade publications with details of your business with a suggested angle for an interesting article, or even targeting the mainstream press, local and national, with a well written press release. You can also pay for advertising in the classifieds (which costs much less than mainstream advertising) or sponsor some local events to get your business name out there.

Marketing ideas for your new small business are plentiful and it doesn’t have to cost a fortune to start building up a reputation around your products and services. The internet is certainly a key resource when it comes to effective marketing without breaking the bank and it is quite astounding how much publicity you can achieve with social media. Start ‘tweeting’ today and get the word about your new small business out there.

John wrote this guest post on behalf of Time Accounts. For accountants Brighton visit their website today!

Have Confidence

Confidence is a huge asset with any new business venture. You have to believe in what you are doing and you have to believe that you can make it work. Even if other people think you are taking too much of a risk, you have to believe in yourself. On the other end of the spectrum, do not be so cocky that you ignore good advice. Remember that there are business people out there who have already walked your path and you can learn from them.

Create a Business Plan

Just because you have skills and talent, that does not mean you know how to run a business. There are important things to consider like how are you going to market your business? Who is going to manage your accounting? You either need to be willing to learn how to do these things or be able to hire people to do them for you. Start with a written business plan from day one so that your business is built on a solid foundation.

Legalities

Be sure to get a proper license for your business and all the necessary legal paperwork you need; that includes keeping meticulous records. Many entrepreneurs start out as a sole proprietorship; however, keep in mind that makes you personally responsible if someone sues your business. If you are going to start out as a sole proprietorship, then get business insurance. You should might want to consider starting out as a limited liability company (LLC) in order to protect your personal assets.

Surround Yourself with Allies

Too many young entrepreneurs make the mistake of thinking they have to do everything alone. You need a team of people who believe in you and share your vision. These people can be your friends, contractors you work with or even a business networking group. The important thing is that you need to be around people who are supportive and can offer good advice.

Don’t Rush Things

I am sure you’ve heard the old adage, “Don’t quit your day job.” Well, there is truth to that. You do not want to give up your primary income right away. Test the waters, make some money, and give your new venture a chance to get off the ground. When you get to the point that your “day job” is cutting into the money you could be making with your own venture, then it is time to consider committing to the business full time.

One of the most exciting things about being a young entrepreneur and starting your own business is that things will never be predictable. Many people love the challenge and the excitement that comes with running their own business. However, if you want your business to be successful, then plan ahead as much as possible so that you are prepared to deal with the inevitable bumps in the road.

About the Author: Gina Andina is a medical assistant working with 3 business partners to start a health advocacy network. When she’s not focused on planning her business strategy, she can be found studying sites like yeastinfection.org by Dr Eric Bakker and keeping herself up to date on healthcare laws and trends.

1. Trust the right agent.

You will want to immediately find an agent, who has the experience within the industry itself, and within the region where you are considering a purchase. Agents with territorial familiarity can find the distressed property owners and sniff out the short sales in time to make an offer. You can shave a lot of time off the home buying process if you find the right agent upfront and do not attempt to do everything yourself.

2. Act in the next nine months.

The market values have been at all time lows for a few years now. That is all in the process of changing, and once the uncertainty in Washington clears up the market will take a clear direction. Currently, the trends indicate it will take an upward direction, and the takeoff could come quickly. Unemployment and underemployment numbers, generally huge factors in the home buying process, are improving, which means home sales will be as well. When they finally are, interest rates will go up and so will the sale prices.

3. Lock in interest rates as soon as you can.

The rates for a fixed mortgage have been at historic lows. So even if you haven’t found the right home just yet, you need to be visiting with your bank and seeing what rates you are capable of locking in before the presidential election. A 30-year mortgage at current rates could see you paying historically low amounts of interest, which means your investment will be worth more whenever you decide to sell. It also means more house for less money than you would normally pay.

Laguna Beach Real Estate is still a viable investment, but for how much longer, who knows? With many properties in the Laguna Beach CA Real Estate market for sale and home sales turning around, expect a busy year. Visit our site to learn more about how you can take advantage.

Small companies can be different. They can concentrate on each customer and find out what each one wants. Customers who have non-standard needs often end up with small companies who can specialize in custom solutions. The small company that recognizes this and caters to these customers can do very well.

When you’re dealing with individuals, in retail and with consumers, finding out what these customers want is fairly straightforward since you’re dealing with one person or a family. When you’re selling business-to-business, it gets more challenging but the rewards can be greater as well.

It basically comes down to knowing your customer

Knowing his business, knowing his goals and finding out what he wants from this particular project. Typically you’re dealing with a coordinator who has the job of making this work. There is a contractual framework and there are other people within your customer’s company who have a stake in the project. For a truly successful conclusion, you have to fulfill the contract and give them all what they want as much as possible while still protecting your own interests and making some money – usually a tough assignment. To tackle it in an organized fashion, we have to assign priorities.

The first priority is the contract. The most important part of it is where it defines what has to work and how it has to work for the contract to be considered successfully completed. Typically the what is quantitative – twelve computers simultaneously online – while the how is qualitative – for two uninterrupted hours at a minimum transfer speed of etc. You have to make sure that you can do what is promised but also that it is a useful measure of completion for your customer.

Second is your customer’s coordinator. You not only have to satisfy him but you also have to make it possible for him to inform his internal counterparts. They must have useful input into the project to influence it so that they can get what they need from it. If you make sure that your contact is given reliable, consistent data and built up into a credible source for project information, your battle is halfway won.

Finally you have to rank the wishes of the remaining stakeholders. They must be ranked according to how much real interest they have in the result. Lower level workers who have to actually use your product outrank a manager who has only a theoretical interest – the latter will get over not getting his way but the people who have to work with the results will be an on-going source of problems until you fix things so they can work the way they want.

What does your customer want?

Make sure you know; put it in the contract; make sure your contact at the customer knows how you are going to fulfill those needs and make sure you have the other stakeholders in the customer’s organization covered. Only when almost everyone at your customer’s company is happy with the result, can your project be a success.

Samet Bilir writes about digital camera reviews, technology trends and photography, such as superzoom digital cameras and Joby gorillapod focus. To read more articles from him visit his website at chi-photography.com.