July 2010

You are currently browsing the monthly archive for July 2010.

1.  First, here are the basics of HTML 5 – GoSee (if you’re a real nerd, you’ll watch this interesting 42 minute video on its introduction and use)

2.  Here is a page from Apple showing off what HTML 5 can do (note: no Adobe Flash Player) – GoSee

3.  WebM, a new type of video file (that doesn’t need the proprietary Adobe Flash Player) – GoSee

The world is changing on the web… hang on for the ride.

Jason M. Blumer

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A client sent me a great article on how to build referrals in your business.  It got me thinking about some other recent stuff I’ve read on building referrals.

Here are some of my take aways:

1.  Asking for referrals is one of the greatest ways to build business, but we never do it.  If you consistently serve your clients well, then they would probably be happy to send you referrals.  They’re just busy (like you) and don’t think about it.  Ask!

2.  Ask for referrals right after you’ve delivered a superior service or product.  Start it this way, “If I was able to add value to you, do you think there is anyone you know that I could help as well?”

3.  Setup a process to ask for referrals.  Our firm’s marketing person (my wife) has helped me do this in our firm.  We have made a list of the top clients that we do a lot of work for, and have strategically put them on my calendar throughout the year to call and ask for a referral.  If we didn’t have a process, I would have forgotten.  But its working.

4.  Tell your referral sources about what you do, and who would make a good client.  I often meet with potential contacts just to see what they need and what type of client they are looking for.  Likewise, they ask me what type of client I am looking for.  We often think of clients that could mutually benefit each other right in our meeting.  Very helpful.

5.  Meet a lot of new people.  This takes a lot of time, but anytime I travel, I’m always looking to meet new people in the city I’m traveling to.  Never waste that opportunity to simply make an acquaintance with other people.  You never know, maybe the barista’s brother-in-law just told him about a friend’s mother that needs your services.  Building your business ALWAYS means building relationships – you never know where it will lead.

Thanks, Jason M. Blumer

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Jesus
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“In this world you will have trouble. But take heart! I have overcome the world.”

Jesus, John 16:33

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Official photograph portrait of former U.S. Pr...

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“You don’t get everything you want. A dictatorship would be a lot easier.”

George W. Bush (1998)

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Small is the new big.  This trend has been noted some time ago by a study commissioned by Intuit.  And I see the trend everywhere I look.  I like what I see.

Here is what small is NOT:

1.  Less profits.  I don’t think being small means your profits have to be small.  You must be wiser and more efficient when you chose to be small, but you don’t have to settle for smaller profits.

2. Less staff and people.  Small can be a mind set and doesn’t have to actually look smaller to those around you.  It may NOT mean that you have fewer people working for you.  It could mean that, I just don’t think a smaller staff is a requirement for small.

3.  Less expertise and notoriety.  Just because you are small doesn’t mean you have to be the “unknown provider.”  You can be well known, you just get to decide what you do with your well-known expertise and notoriety.

4.  Less global reach.  On the contrary, small businesses are some of the most well positioned companies to take their concepts to an international market.  This evidence is all around us.  Small can be global.

Here is what small IS:

1.  Slower growth.  I believe small is choosing to grow slower.  When you do this, you innately learn what you are doing.  You figure out what you are doing quicker, and you screw up your business plans less often (at least that is what I think I would have done over the past 7 years had I chosen small).

2.  Strategic.  Growing slower means you are growing smarter.

3.  Artisan.  Choosing small means you are choosing to be a specialist who can be known as an artisan in your field.  Here is a great video explaining the concept of artisan.  Artisans hand craft things with care, and are reachable by their customers and clients.  They have a lot of face time with their people, and are known by their people.

4.  New business models.  Your employees can work for you all over the world now.  Business models are becoming flatter, meaning hierarchy and large management structures are not as needed.  They often create difficult ways to get real business done.  You can chose a brand new business model for your industry and still remain small.

These are my thoughts.  Am I off my rocker?  What do you think?  Leave it in the comments above.

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Woodrow Wilson.

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“One cool judgment is worth a dozen hasty councils. The thing to do is to supply light and not heat.”

Woodrow Wilson

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1. loanwars

2. history-of-credit-cards

3. nationaldebt

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Gpigraph
Image by miss_rogue via Flickr

I listened to a podcast recently on the debt of various countries, and how its growing.  Those countries with significant consumer debt as compared to their GDP (or the measure of their country’s output) are falling or hurting very severely.  The US isn’t as bad as some of the worst countries, but our debt is growing at a pretty rapid pace.

The podcast mentioned two reasons consumers and companies incur debt:

1.  If their desired spending exceeds their desired income. Stupid.  Listen to some Dave Ramsey rants to figure out you need to lower your “desired spending” below your current income.

2.  If they believe they can use the borrowed money to invest in a higher future return. This was a practice started in the 70s (according to the podcast), and typically worked out well.  Taking on debt now, and investing it in a good business idea returned a pretty good return as your business grew.

But that was then…

1.  Debt is NOT as good an investment as it used to be.  I don’t believe #2 above is true anymore.  Our economy changed a couple of years ago (if you didn’t notice), and I don’t believe we are going to be what we were before the downturn.  Though our economy has shown some signs of a rebound, I believe they are subsidized signs by our government pumping money into people buying new homes and hiring new workers.  It’s not real yet.  And I believe it’s going to take some time to truly rebound.  So I definitely would NOT invest in debt now and expect a good return within 5 years.  It’s not a safe bet.

2.  Pay off your debt.  If you have to grow slower, then do it to pay off your debt.  In 5 years you will be the wiser consumer if you make changes now to solidify your cash position.  And if there is going to be another downturn in the future (and there almost certainly will be) then you will be in a cash position to benefit from everyone else that is leveraged to the hilt.  I have some debt too and I have given the next 5 years to get this paid off to be more agile and stronger in the future.  I know that investment (i.e., paying off debt) is the best investment I can make now.

What do you think?  Leave it in the comments above.

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Day 105 - Tax Day!
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If you bought a home this year, and signed the contract for purchase before April 30, 2010, then you have until September 30 (formerly June 30) of this year to close on the home.  Suweeet.

But there are things you need to know when filing your tax return, so check out the IRS faq on the subject.

Another cool piece to this is that if you’ve already filed your 2009 tax return, you can amend that return and get your money now as opposed to waiting until you file your 2010 tax return.  Again, suweeet.

Thanks, Jason M. Blumer

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“Rock stars eat their popsicles at the kitchen table!”

Overheard from my wife, Jennifer J. Blumer, to my kids