Missouri Small Business and Technology Development Centers Blog

When the MU Extension business development programs survey business owners regarding their needs, one of the items that invariably tops the list is the challenge of time management. “Give me more hours in the day and more days in the week,” is a common refrain.

Unfortunately, no one can provide that. But an honest assessment of the problem, combined with some solid tips for handling it can help you make the most of every minute of every day.

The most common problems experts report include a lack of focus, clutter (both physical and mental) and an unwillingness to delegate. Many managers mistakenly believe that they alone can get everything done. Seldom is that the case. Others lack systematic processes for completing work, so every time they encounter a chore, they are re-inventing the wheel in terms of its completion. And, that the experts, business owners fall into the trap of working only on what is urgent and not on what is important. (more…)

One of the greatest challenges entrepreneurs face is anticipating trends in the marketplace. How do you find out what the “next big thing” will be?

Surprisingly, there are some low-cost and easy ways to do that.

One is to become an avid reader of business magazines, journals and newspapers. Publications such as WIRED, Fast Company, Business 2.0, Fortune Small Business, Inc. and regional business journals can be great source for what is “coming down the pike.” Good metro newspapers often have a solid business section, and at least one or two columns focusing on small business. The middle story on the front page of the Wall Street Journal also includes some good trend-watching information from time to time. (more…)

There’s a new generation entering the workforce — a generation that will both challenge our perceptions of how work should be done and what work should be in our lives.

This is a popular topic among human resources professionals these days as individuals born in the 1980s and 1990s are now beginning to take their place alongside the so-called Generation Xers (those born in the 1960s and 1970s) and the Baby Boomers (those of us born between the late 1940s and the mid-1960s). Depending on which source you read, the years for those groups can vary slightly, but most researchers work roughly within those categories.

At the University Center for Innovation and Entrepreneurship, we hear from clients who are encountering tensions among their employees. Often, the problem comes down to a generational divide and the accompanying differences in perspective. In addition, the Generation Yers (sometimes called the Digital Generation or the Millenials), are among the top groups starting their own businesses, so many of them become our clients. We think it’s important to understand some of these generational dynamics. (more…)

There is a great deal of chatter today about mitigating our business risks in terms of identity theft, online security and attacks in cyberspace. Because of the enormous interest in this, as well as the enormous concern shared by business owners, it’s not surprising that the insurance industry has stepped up quickly to provide cyber insurance to protect businesses from falling prey to all forms of online misfortune.

29 percent of U.S. companies had purchased external insurance policies for this purpose in 2006. In the current environment, when nearly every business process is handled electronically and global transmission of data has reached seemingly infinite proportions, it’s no surprise that firms want to protect themselves from online threats. (more…)

The ideas were as diverse as the kids who came up with them.

The experiences were as varied as the hometowns from which they came.

The talent in the room was as evident as the noise was loud.

And the enthusiasm and inspiration were infectious and encouraging.

It was Entrepreneurship Camp 2007, a cooperative program of MU Extension, jointly sponsored by our office, the University Center for Innovation and Entrepreneurship, and The 4-H Office. The College of Engineering, College of Business, MU Career Center and Office of Community Enterprise and Economic Development provided valuable sponsorship assistance.

The 12 kids, whose average age is 15, came to us from St. Louis, Caruthersville, Kearney, Fredericktown, Concordia, Columbia, Fulton and Jefferson City. They all shared an interest in entrepreneurship. Some had the idea for a business when they arrived, and some did not. One is already in business. Together, we learned how to develop a business concept, a business plan, a marketing strategy and financial projections. We learned the importance of good credit, how to research an industry or business idea and how to convince others that your concept is a good one. (more…)

Imagine owning a home-based business and opening your door every morning to find seven of your customers standing on your porch, eager for your attention.

That’s literally what happens to Faye Nowell, owner of Southpaw Acres, LLC, Interactive Boarding for Dogs (www.southpawacres.com), when she steps outside her home each morning and is greeted by seven wagging tales.

Home-based business owners tell us that’s the hardest part of the gig – never quite feeling like they get away from the company. No one knows that better than Faye. But she wouldn’t have it any other way.

“This is a ‘happy’ business to be in,” Faye says. “I have met the nicest people and dogs in the past six years. Several clients have become close personal friends. I enjoy seeing happy dogs coming back to us time and time again.”

And happy they are. I know this for a fact, because Southpaw Acres (SPA) is one of my dogs’ favorite places. If I tell Bonnie and Bud that they are going to spend time at “the spa,” they run to pack their toys and kibble, grab their leashes and get in the car. It’s a wonderful service for folks who travel and need overnight accommodations for their dogs. The only problem is that I sometimes wonder if Bonnie and Bud enjoy better accommodations than I do during those trips. (more…)