Palo Alto Software is pleased to be a small part of this amazing global effort to help young entrepreneurs, small business and growing businesses succeed with their business dreams.

This week, all over the world, businesses, universities and thought leaders in the business community are celebrating the power of the entrepreneur. As Tim Berry, the president of Palo Alto Software will tell you, in this time of economic difficulties it’s important to get back to the things that are important. Back to the things that work. The basics. The ABC’s of business.

The Business in General blog and Bplans.com will be bringing you video’s, articles, tips, special offers and a webinar on how to take your business back to the fundamentals.

If you’re starting a business or growing your business, we’re going to hopefully touch on a topic you are interested in.

We’re kicking off the week with Tim Berry hosting a webinar. Registration is closed for “Business Planning: Back to the Fundamentals” webinar at this point, but we will be posting portions of it all week long. Look for more information on that later today.

Thanks for stopping by, and if you have any suggestions or comments, I want to hear them. Please get in touch with me at hello (at) paloalto.com

Have a great week everyone!

‘Chelle Parmele
Social Media Marketing Manager
Palo Alto Software

Tags: backtofundamentals, basics of business, business planning, entrepreneurship
Posted on November 17th, 2008 | No Comments »

You may start noticing a theme on the BIG Blog - “Back to Fundamentals” - and when you sit down and think about it, it is a really simple idea that can have a really big impact on your business. Whether or not your company is in a financial pinch, the economy is in a slump or things are booming, it never hurts to evaluate things and get back to the fundamentals of business.

Marketing is a key component to the success of any business, so I want to focus my future posts on getting back to the fundamentals of marketing. Often times people think effective marketing campaigns require a big budget, when in reality there are many ways to market with little to no budget. Networking is one of those ways.

The word “networking” can evoke a mix of emotions from people. The old, standard definition of networking (a meet and greet event where you shake hands and make small talk with others) isn’t the only way to truly and effectively network. That being said, there is generally going to be some handshaking and small talk to learn about someone’s business and tell them about yours. There are a number of ways to effectively meet people, learn about their businesses and determine how you can create a mutually beneficial relationship, all with little to no cost and without cheesy and uncomfortable small talk. Here are some simple ideas of where/how you can network:

1. Professional associations related to your industry
2. Local or regional associations or groups
3. Traditional networking groups/clubs
4. Cultural associations
5. Chambers of Commerce
6. Local business events (business after-hours, business expos, etc)
7. Join a gym
8. Volunteer

In general, use every opportunity (business or personal) as a potential networking opportunity. Networking doesn’t have to be cheesy or boring. It can be as simple as striking up a conversation with someone who you meet in your morning workout class.

Kristen Langham
Manager of Business Development
Palo Alto Software

Tags: backtofundamentals, entrepreneurship, Marketing, networking
Posted on October 23rd, 2008 | 1 Comment »

Let me begin by saying that I never thought I’d be quoting Tyra Banks. On anything. But she recently wrote a piece in Newsweek about her life and her thoughts on, of all things, entrepreneurship. She compared starting a new business to having a new baby – you lose sleep, work 24/7, and look for only the best people to take care of your wonderful creation.

It’s a good analogy. No matter your child’s, or your business’s, stage in life, you have to have a plan. As a new father, I can attest to that. From the time you find out you’re going to be a parent (maybe even before!), you start planning for the future. How we will divide childcare duties? What’s the nursery going to look like? How will we afford to send him to college? Then the baby arrives, and there’s even more planning – you can’t leave the house for the afternoon without a plan!

A business is no different. Every business starts with a plan, maybe not a formal bank-approved business plan, but a plan to make your idea reality. But being up and running doesn’t mean you can stop planning. What are you sales goals in five years? How will you achieve them? How will you market your company to take it to the next level? Once you’re there, what’s the next step?

What would happen to your child if you didn’t take the time to plan ahead? What do you think would happen to your business?

Jay Snider
Palo Alto Software

Tags: business plans, entrepreneurship, planning, Tyra
Posted on October 13th, 2008 | No Comments »

Unless you’ve been under a rock or avoiding any kind of tv or newspaper for the last year or so… you’ll know that America is in political season. Barak Obama and John McCain are currently and aggressively seeking the vote of every American to rise to the office of President of the United States.

This post isn’t about which one would be better for the country, or even about the current administration. This post is about where you can find facts on where each of the canditates line up on the issues of small business and entrepreneurship.

The Small Business & Entrepreneurship Council has a side by side comparison for each candidate.

In visiting the websites of each candidate, and gleaming through media reports
citing their positions, the Small Business & Entrepreneurship Council (SBE
Council) has been able to retrieve significant information on what each candidate
proposes to do on major issues if elected president.

Link to the full report- NOTE this is a PDF file.

If you are at all curious on what the candidates are proposing for the future of your business, I highly encourage you to read through the report.

‘Chelle Parmele
Social Media Marketing Manager
Palo Alto Software

Tags: entrepreneurship, political, Small Business
Posted on September 18th, 2008 | No Comments »

Tom Taulli, author and entrepreneur, wrote a great article about the five key steps when starting a business at the Entrepreneur’s Journal this weekend.

The advice is well worth a read and there’s a bonus as he talks about our own Tim Berry’s new book, The Plan-As-You-Go Business Plan.

Way too many people fail because they don’t recognize that nobody’s really good at everything. They play too close and too tight. Get help.

It’s a short read, but chock full of great information.

This is also a great opportunity to let everyone know that Tim’s book, The Plan-As-You-Go Business Plan is now available at Amazon.com for purchase. Pick yours up today!

‘Chelle Parmele
Social Media Marketing Manager
Palo Alto Software

Tags: business advice, entrepreneurship, Plan as you go
Posted on July 28th, 2008 | No Comments »

The people of Estonia decided they’d had enough of the garbage that littered their countryside and forests.

Instead of waiting for the government to take care of it, or turning a blind eye and hoping it would just go away, they did something about it.

50,000 people scoured fields, streets, forests and riverbanks across the country, picking up everything from tractor batteries to paint tins (see a BBC video here). Much of this junk was ferried to central dumps, often in the vehicles of volunteers.  ~Anthony D Williams

I am literally boggled by this. 50,000 people, in one day, all went out into the countryside and helped make a difference. Fantastic!

This initiative, Let’s Do It!, was organized by two entrepreneurs, Ahti Heinla from Skype and Rainer Nolvak from Delfi. The fact that this was organized by entrepreneurs doesn’t surprise me in the least. They used Google Maps to start the grassroots program to map and photograph the problem trash sites.

Neighboring Latvia, not to be outdone, decided to do a clean up as well.

Wouldn’t it be fantastic if this kind of thinking went viral?

Each country trying to out clean the other? Tens of thousands of people getting out of their houses, all to put their good intentions to work.

Imagine the next Earth Day where everyone, across the world pledged just an hour of their time that day to go out and clean up.

Now, imagine if we all actually did it.

Imagine how fantastic that would be.

‘Chelle Parmele
Palo Alto Software

Tags: entrepreneurship, green
Posted on June 19th, 2008 | No Comments »

The negative relationship between property investment and entrepreneurship is not immediately obvious. However, the recent property booms in Ireland and the U.K. (amongst others) helps to demonstrate this relationship. In recent years, both countries have experienced phenomenal growth in house prices. That is, until everything came grinding to a halt at the end of last year. [1]

The net effect of this boom has been one where the incentive to become truly entrepreneurial was significantly reduced – why try and create a new product or service if there was a guaranteed high return from property development? Similarly, from an investment point of view, why consider any other investment opportunity if there was a perceived guaranteed high return from property development?

In Ireland, the short-term results of the boom were a huge increase in people ‘getting into property’ and in the U.K. every second TV show on Channel 4 seemed to focus on property, e.g. Location Location Location, Property Ladder, A Place in the Sun and Grand Designs. Now all manner of problems are coming home to roost as the market collapses and the scale of consumer debt is becoming obvious. [2]

The Irish Government was happy to continue to fuel the boom, rezoning land for development, and cosying up to property developers [3], given how the huge property related taxes were contributing to their coffers. As David McWilliams, a leading Irish economist points out, a national focus on property is damaging as a ‘country which experiences a property boom turns in on itself. The reason for this is very simple, property cannot be traded. Bricks and mortar are tied to the land and the land is fixed and can’t be exported. Therefore, the discipline of international competition is lost.’

I would go further than this, it also destroys enterprise – there have been countless examples of successful businesses in Ireland shutting down because there is a greater return to be had from selling the property for redevelopment than continuing the business as a going concern. [4]

As someone passionate about entrepreneurship however, I take the view that every cloud has a silver lining, and that the property collapse could prove to be an excellent stimulus for entrepreneurship.

As Michael O’Leary, M.D of low cost European airline Ryanair recently claimed, “I love recessions,” he says. “Recessions are much more fun. Good times are a pain in the bum. Good times, any idiot can make money. In recessions, the good get up off their backsides and start doing the kind of sensible things that they should do all of the time. It’s good for business”. [5]

Now that ‘property development’ is no longer a safe bet, and the Irish and U.K Governments realise that the boom is over, it is likely that entrepreneurship, in its purist form, should take off once again. Those who stretched themselves with high mortgages will face stark options: sell up at a loss, or try to make ends meet. For some, second jobbing will be their only option and this will also help to fuel the passions of entrepreneurship in people. It is also hoped that the respective Governments will play their role, after all their taxation policies and planning policies have helped to fuel the boom in the first place.

Alan Gleeson
Palo Alto Software

[1] http://news.bbc.co.uk/1/hi/business/7445864.stm

[2] http://www.grant-thornton.co.uk/press_room/amount_of_uk_consumer_debt_exc.aspx

[3] http://www.independent.ie/national-news/bertie-makes-his-own-pitch-for-the-banished-galway-races-tent-1393773.html

[4] http://www.rte.ie/news/2008/0523/mcnamarab.html

[5] http://news.bbc.co.uk/1/hi/business/7438315.stm

Tags: business plan, entrepreneurship, Ireland
Posted on June 12th, 2008 | 1 Comment »

This is the question that The National Federation of Independent Business (NFIB) in partnership with eBay wants to answer. To that end they are sponsoring a fun contest:

The 2008 National Small Business Summit, “We Are Stronger Together,” presented by the National Federation of Independent Business and eBay, brings together small business owners from around the country to meet their lawmakers face-to-face and share their experiences about how Washington , D.C. decisions affect small businesses. The Summit will focus on top small business legislative priorities, including healthcare reform efforts, and also will examine the political landscape leading into the November elections.

To enter you have to put together a video which in an original and creative way answers the question of Why Small Business Works For America. If you feel passionate about this topic - give it a shot. You stand to win 5000.00 and a trip to DC for the National Small Business Summit in June.

Tags: entrepreneurship, politics, Small Business
Posted on April 22nd, 2008 | 1 Comment »

Talking to small businesses and entrepreneurs writing business plans, I find that business owners often wish that they had no competition. Businesses usually are thinking that with no competition, the entire market for their product or service will be theirs. I don’t think that is the case - especially for newstartups that have truly innovative products and services. Here’s why:

• Competition validates your idea
  You know you have a good idea when other people are coming up with similar products or services. Competition validates the market and the fact that there are most likely customers for your new product. This also means that the costs of marketing and educating your market goes down (see my next point).
  
  
• Competition helps educate your target market
  Being first-to-market can be a huge advantage, but that also means that you will have to spend way more than the 2nd-to-market player to educate the market about your new widget, your new solution to a problem, your new approach to services. This is especially true for businesses that are extremely innovative. These first-to-market businesses will be facing customers that didn’t know that there was a solution to the their problem. These potential customers might not even know that they have a problem that can be solved in a better way. These first-to-market companies will have an uphill battle to educate consumers - an often expensive and time consuming process. The 2nd-to-market will enjoy all the benefits of an educated marketplace without the large marketing expense.
  
  
• Competition pushes you
  Businesses that have little or no competition become stagnant. Customers have few alternatives to choose from, so there is no incentive to innovate. Constant competition ensures that your marketplace continues to evolve and that your product offering continues to evolve with it.
  
  
• Competition forces focus & differentiation
  Without competition, it’s easy to lose focus on your core business and your core customers and start expanding into areas that don’t serve your best customers. Competition forces you and your business to figure out how to be different than your competition, how you can focus on your customers. In the long-term, competition will help you build a better business.
  

Focusing too much on your competition, however, is a bad thing.

• It stifles creativity
  If all you do is track your competition and do endless competitive analysis, you won’t be able to come up with original ideas. You will end up looking and acting just like your competition. Instead, make a habit of NOT visiting your competition’s website, NOT going into their store, NOT calling their sales office. Focus instead on how you can provide the best service possible and spend your time talking to your customers and not your competition.
  
  
• It keeps you from focusing on your customers
  Following your competition means that you aren’t focusing on your customers and what they want - you’re focusing on how your competition serves its customers. Instead of spending time figuring out how you can better serve the next person that walks in the door so that they become a lifetime customer, a reference, a referral source, you are becoming a copycat. When that happens, it won’t matter to a customer if they walk into your store or your competition’s because you will both be the same.
  

Every business has competition, even if it is not direct competition. There is always an alternative method to solve the problem you are solving, even if your idea and solution is revolutionary. For example, initial competition to the car was the horse and buggy (or plain old walking). Competition for the Mac’s initial foray into desktop publishing was not other computing systems, but manual cut & paste layout systems. It’s OK to have competition and in fact it is a good thing.

As you grow your business, it’s critical to understand how your customers currently solve the problem you are addressing. This will help you focus your marketing and really address your customers’ true needs.

Noah Parsons
COO, Palo Alto Software

Tags: competition, entrepreneurship
Posted on April 16th, 2008 | 1 Comment »