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ArticlesCheck back each week for a new article, or subscribe to receive articles delivered by e-mail every Monday.196. Businesses, Like Life, Have StagesFew businesses follow a predictable path and timeline from one stage of life to the next. Some linger for a long time as startups, while others dash directly from startup to rapid growth. Knowing the life cycle of a typical business can help an entrepreneur know where to find capital to reach the next stage. 195. Investors Bring Benefits Beyond CapitalFor a growing business, the advantages of outside equity capital are numerous. Equity significantly improves a company’s balance sheet and provides resources for hiring, developing new products, and other needs that can help the business grow. But there are other important benefits too. 194. Small Business Publicity: Writing Effective Press ReleasesProfessional publicists recommend press releases to deliver business news to the media for broadcast to potential customers. The difference between a well-written press release and one that is poorly researched and badly written can mean a story landing on the front page or one that goes into the recycle bin. 193. Government Contracting: A New Path to Increased Revenue?The Procurement Technical Assistance Program, set up by the New Mexico Small Business Development Network in 2009, is a non-profit organization that helps small businesses obtain government contracts. 192. National Labs Encourage Small Business CollaborationThe New Mexico Small Business Assistance Program provides free technical assistance and expertise from scientists and engineers to New Mexico small businesses facing challenges with testing, design and access to equipment or facilities. While individual businesses can request assistance anytime, the program annually considers leveraged projects involving multiple businesses with a shared problem that is too large or complex to solve in an individual project. 191. Advocacy Office Helps Businesses Break through RoadblocksOne of the first initiatives of Governor Susana Martinez and Cabinet Secretary-designate Jon Barela was to create the Office of Business Advocacy, a place where business owners and entrepreneurs can get help navigating the state’s inherent bureaucracies. Advocates assigned to the Office of Business Advocacy act as caseworkers to solve issues such as delayed licenses, inspection problems and permit misunderstandings. 190. SBA Seeks Feedback at EventThe New Mexico district of the U.S. Small Business Administration will honor Janice Lucero, owner of MVD Express, and other small-business leaders from 11:45 a.m. to 1:45 p.m. June 2, 2011 at the state’s Small Business Week Award Celebration luncheon. 189. LANL Puts Students to Work for New Mexico BusinessesEach summer, MBA students from top-ranked business schools work at LANL to help scientists, small businesses and entrepreneurs find commercial uses for new technology and assist companies with business challenges. Business owners in New Mexico may obtain assistance by applying through the program. 188. Stay Stable with Balanced Cash FlowCash-flow imbalance is the leading cause of business failure in a healthy economy, according to the U.S. Small Business Administration. So when the economy is sputtering toward its prior vigor, it’s more urgent than ever to maintain a balance between what’s flowing into the business and what’s flowing out. 187. Personal Approach to Sales Prospecting Yields ResultsA novel approach to sales prospecting is to generate an ongoing list from public announcements about people who have won industry awards or reached achievements of note, and use the announcement to make a personal connection by sending a letter of congratulations. |
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