Tips for Doing Business With the Government – Gaining an  8(a)Certification

If you are a small business owner, you will naturally be interested in becoming certified in the U.S. Small Business Administration’s(SBA) 8(a) business development program. Generally speaking, one of the roles of SBA  is to certify small businesses that it considers to be socially or economically disadvantaged under its nine-year 8(a) business development program(BDP). Note that small business owners are considered to be economically disadvantaged if their ability to compete in the free enterprise system has been impaired because of their diminished capital and credit opportunities unlike their counterparts in the same line of business. In this regard, African-Americans, Native Americans, Hispanic Americans and Asian Americans are some of the minority groups that are presumed to be socially and economically disadvantaged(SBA, 2012).

Gaining 8(a) certification has its advantages. First, it will help you to develop and grow your business through one-to-one counseling, training workshops and management and technical guidance. Second, you will have access to U.S. Government contracting opportunities. Third, your business will become a solid competitor in the federal  marketplace. It is important to note at this point that in the fiscal year 2010, small businesses(those of them with 8(a) certification), received more than $18.4 billion in 8(a) contract dollars(SBA, 2012).

It will also be noted that obtaining 8(a) certification for your business can be a rigorous and daunting process. However, given that 8(a) certification can help your business to gain access to government contracting opportunities, the potential benefits outweighs the challenges. The 5 successful tips for navigating the 8(a) certification process are described below.

Register with the System for Award Management(SAM)

One requirement for doing business with the U.S. Government is to register your company in the SAM database(www.sam.gov). Visit this website www.sba.gov/8abd to access the 8(a) application online(Burns, 2012).

Financial Documents

You will need to get your financial documents in order. Some of the documents you will need to complete the application include your federal tax returns, balance sheets and profit and loss statements from the past three years, among other documents. To find the entire list of required documents, check the 8(a) application at www.sba.gov/8abd (Burns, 2012).

Seek Wise Counsel

You will need to use the services of a consultant who will review your 8(a) certification application packet. To find the companies that can assist you in getting 8(a) certified, contact your local SBA district office(Burns, 2012).

Befriend Your Local SBA

You will also need to establish a relationship with your local SBA. This is important because they can provide you with the much-needed advice and direction throughout the 8(a) certification application process(Burns, 2012).

Don’t Give Up! Follow Through On Your Application

Sometimes your initial application may be rejected. If this happens, don’t just give up – this will actually be the time you should gather your paperwork and turn to your local SBA  branch office to find out who is next in command. Going directly to this person will ensure that when you re-submit the application, it will be properly reviewed and approved(Burns, 2012).

References

Burns R.(2012, November): Small Biz. Black Enterprise, 43(4), 36.

SBA(2012): 8(a) Certification and Minority Business Certification – How Does A Business Get Certified? Retrieved December 29, 2012 from http://www.sba.gov/community/blogs/community-blogs/business-law-advisor/8a-certification-minority-business-certificatio

Resume Checklist for 2013

Even though the resume is still the main documents your potential employers or hiring managers requests  to judge your qualifications, expectation has changed significantly. Given that the resume is actually not about you but about your prospective employer, it is important that you use your resume to convey your unique talents and specific skills, as well as how those talents and skills will benefit your prospective employer(Alleyne, 2012). This is the only way you can stand out from the competition in 2013. Here are a few tips that would help you to effectively present your experience and unique skills to  a prospective employer in 2013 via your resume.

Your Professional Profile

You will need to create a professional profile that answers that problem of why a prospective employer should hire you. Creating a professional profile serves one important purpose, which is, to showcase  your experience and key differentiators. For instance, if you are a financial planner, begin your resume by writing “Certified Financial Planner(CFP)”  or “Accredited Investment Fiduciary(AIF)” under the title “Financial Planner.” This will tell the prospective employer who you really are and what you can do for the organization. Don’t forget to stay away from overused words or phrases like “specific expertise in”, “team player,” self-motivated,” and “attention to detail.” In addition, do not have an objective at the top of your resume. That method is now outdated. Recruiters see it as being “out of touch”(Alleyne, 2012).

Using the Appropriate Job Title

The Golden Rule here is to use a title that is close to the job you are seeking. This format tells the recruiter what you want. Generally speaking, the hiring manager may have hundreds of resumes that they have received in response to as little as, say, 10 jobs. So they want to be able to tell what your expertise is at first glance. They can do this if, and only if, the title you used in your resume is close to the job you are seeking.

Quantify Your Responsibilities

The 2013 workplace will be very competitive. Hence the need that you outline what you do. For instance, if your main responsibility is to create spreadsheets, you will need to state it quantitatively on your resume. Saying something like “…created four spreadsheets on quarterly budgets  for review by senior management”  is a powerful  and eye-catching statement. This is because it explains  how you have not only impacted  but also improved your previous employer’s business(Alleyne, 2012).

Using Strong and Specific Language

Some of the great words to use in your resume include “led,” “managed,” and “directed.” However, you will need to avoid words like “assisted,” and “participated” for one important reason: they are passive language.

Appearance Counts

Another Golden Rule here is this: Your resume must look crisp and clean. To do this, it is best to create an attractive,  conservative design  that is appropriate for the industry. In addition, there cannot be errors in your resume. So proofread your resume very well(Alleyne, 2012).

As a concluding remark, I will state here that your resume should be a living document that is updated regularly. Do not forget to keep an electronic file of your resume in which you updated your professional progress. This is because it can be difficult to remember your accomplishments.

Reference

Alleyne S.(2012, November): Strategy – Resume Workshop. Black Enterprise, 43(4), 50-51.

Five Mobile Gadgets Every Business Needs

Five Mobile Gadgets Every Business Needs

As laptops and tablets get thinner and lighter as well as more powerful each year, being ultra-mobile gets easier. Smartphones also get smarter and batteries lasts longer thereby making a business owner to communicate with clients from every location. Generally speaking, whether or not you are an entrepreneur who runs things from the corner café, the following mobile gadgets will immensely help your business.

Blue Microphones Tiki(A Compact Mic)

This is a laptop accessory that you can use to record podcast-quality audio while on the go. You can also use the Tiki as a mic for Skype and other VoIP calls that delivers interview fidelity sound. To use Tiki, simply plug it in via USB and it is ready to go. The main benefit of using Tiki is clear: It does not only filter out background noise  but it also focuses on one voice, mutes automatically while, at the same time, records a wide range of audio from locals to acoustic guitar (Bradford, 2012).

Braven 650 – A Bluetooth Speaker

The Bluetooth headset is a device that do not suit everybody. So if you are one of those business owners who do most of their conferencing  from the privacy of a hotel room or at home, you will find the Bluetooth speaker  known as Braven 650 very useful. Two  of its advantages is that it is small enough to be carried in a laptop bag. In addition, it offers rich, rounded audio. Besides, you will be heard loud and clear through the integrated microphone by the listeners on the other end of the call when  using it during a tele- conference. Two other important features of this device is also evident: First, it makes music and video sound great when you are ready to relax. Second, the battery last for up to 20 hours. Hence it is equally possible for you to use it to charge your smartphone  as well as other USB-powered gadgets(Bradford, 2012).

Tablet – Ative Smart PC Pro 700T(Windows 8 Version Hybrid)

Broadly speaking, with the advent of the Microsoft’s Windows 8, tablets such as the Ativ Smart PC Pro 700T transformed from entertainment devices that needs add-ons to get business-ready into a device that runs the full operating system without compromise. This feature made tablets to become easily converted to laptop when needed. It is important to state here that Ative Smart PC Pro 700T can work independently of the base and looks, feels and acts just like a laptop, complete with a secure, sturdy hinge once connected.

Smartphone - HTC Windows Phone 8X

The HTC Windows Phone 8X is a smartphone designed to integrate seamlessly  with Windows, particularly Windows Office. This device will be very useful for the business person, and even managers on the go. One more good thing about this smartphone:  It is available on T-Mobile, AT & T and Verizon Wireless.

Tablet – Nook HD

For the business owner who is always travelling from city to city, this Barnes & Noble’s 9-inch Android tablet has the perfect size and weight s/he can use for reading digital magazines and newspapers. One other important characteristics of this device is that it has an app known as the Nook Newsstand that offers access to hundreds of periodicals. It also has a Scrapbook app that can enable the business owner or an executive to “tear” out pages and save them in personalized collections – a feature that make research or saving topic-specific  stories easy and convenient(Bradford, 2012).

Reference

Bradford  K.T.(2012, November): Executive Gift Guide – Mobile Gadgets for Business. Black Enterprise, 43(4), 42-44.

How To Write An Effective Credit Report Dispute Letter

How To Write An Effective Credit Report Dispute Letter

Whether you like it or not, your credit report affects almost every areas of your life. First, it is evaluated by employers who are considering you for a job. Second, landlords, insurance companies, utility companies and lenders review it and use it as the decision barometer to determine whether or not to to engage in any business transaction with you. Unfortunately, as much as 80 percent of credit reports contain errors and, according to Smith(2012), roughly 25 percent of those errors are serious enough  to cause a denial of credit. So if you find a mistake in your credit report, a letter disputing the errors should be your first course of action. Generally speaking, in order for your complaint to be addressed properly, it is very important for your dispute letter to contain the right, convincing information. Below are the tips for writing an effective credit report dispute letter.

Be Informed About What You Can Dispute

One important thing you need to know is that you have the right to dispute anything in the trade section. This include information regarding student loans, auto and personal loans, credit cards, as well as items in the sections for collections and public records. You can also challenge anything that is outdated or is incorrect and is only allowed to stay on your credit report for a certain period of time, such as bankruptcy. Another item you are allowed to challenge is fraudulent credit inquiries. However, among the things you cannot dispute are items such as a negative information like foreclosure and chapter 7 bankruptcy when they are actually correct and if they are within the statute of limitations for reporting. Note that a foreclosure will stay on your report for 7 years while a chapter 7 bankruptcy will stay on it for 10 years(Smith, 2012).

Be Elaborate – Consolidate Disputes

Consolidate all your disputes in one letter. It is not smart to send a letter for each issue on the report. In addition, send the letter via a certified mail and don’t forget to request for return receipt. By following this approach you will avoid lengthening the response time.

Include the Right Items

Keep your dispute letter simple and direct. To do this, you will need to stick to the basics such as identifying information(such as name, address, last 4 digits of your social security number, and so on) and the credit report reference number. Note that the credit reporting agencies usually include the credit report reference number on any copy of the report they send to you. Don’t forget to clearly identify the item you disagree with, the reason for questioning the item and the action you want the credit reporting agency to take to correct the error. Of course, as a way of proving your case, you should enclose any supporting documentation with the letter while, at the same time, keeping a copy of the letter and the supporting documentation.

Be Honest and Stick to the Facts

It is not smart to write an angry and  rambling letter to a credit bureau. The bottom line: you are more likely to get a better response if you write a polite letter that states the fact clearly than by writing  an angry and  rambling letter.

Be Creative – Take A Two-Pronged Approach

Being creative means that you should file  disputes with each of the major nationwide credit reporting agencies. It also means that you should submit the same dispute directly to the collection agency or the creditor. The effects of this approach is clear: since the collection agency or the creditor are required to share corrections with any credit reporting agency to which they have reported the mistake, disputing directly with these agencies might make the credit bureaus to fix the errors quicker.

Don’t Give Up – Be Persistent

If you did not get a response(which is very rare), you can file a complaint with the Federal Trade Commission(FTC), your local Better Business Bureau and the Consumer Financial Protection Bureau. When filing these complaints, be sure to copy the credit reporting agency. If you have the financial means, you can also contact the National Association of Consumer Advocates – they will help you to contact a good consumer protection attorney.

Reference

Smith S.H.(2012, November): 5 Keys to An Effective Credit Report Dispute Letter. Black Enterprise, 43(4), 32-33.

The Empowered Consumer – Three Lessons from the “Fine Print”

The Empowered Consumer – Three Lessons from the “Fine Print”

In today’s markets, businesses and advertisers care more about their profits and generating more sales  than they do the effects of their predatory marketing campaigns on the customers. It is thus not surprising that most of the advertisements we see in the media today carries one form of fine prints or the other:  a speed-talked disclaimer on TV and radio or a print advertising’s tiny type that often makes an advertised claim false or misleading. In other words, almost every company selling just about any type of retail goods or services(such as restaurants, cable TV packages, and cell phone service) are guilty of using fine prints to mislead customers. Broadly speaking, because they know that if they really told the truth in the big print people would be less interested in the offer, companies like to put the happiest face on their claims. Marketers believe with considerable confidence that as long as they reveal the truth with an asterisk, it is okay to say almost anything in an advertisement.

The fundamental lesson here is that, as a consumer, you need to protect yourself from these deceptions and questionable marketing practices. Here’s  a simplified  explanation of how fine prints can be your most valuable weapon.

Where to Find Fine Prints

Almost every advertisement is followed by a fine print. For instance, in one of the advertisements by Best Buy, the company claimed that it would match online prices – a claim that sounds great to the customers. However, in the fine print that followed the ad, Best Buy explained that it would match prices of a few specified online retailers, only on certain categories of products, and it will exclude some of the best sale days, such as Black Friday. Here are more examples: T-Mobile ad claims to offer “unlimited nationwide 4G data.” This offer, also comes with limitations. If you are a fan of the Consumer Report magazine, you will discover that the inside cover, the section called “Selling It”  is a good source of fine print revelations.  For instance, one of the ads in this section of the magazine is for the Tiki Island King Windfighter torch which claims that it stays “…lit in the wind.” But  it contains a fine print that cautions the buyer not to use it in windy conditions! Now take a look at this one: Western Sky Financial has a TV ad that offered loans  of up to $5000. But the fine print says, “The APR  for a typical loan of $5000 is 116.73% with 84 monthly payments of $486.58”(Karp, 2012 p.4). This means that if you, the customer, take $5000 and pay the loan back in seven years, your total payment will be $35,872.29! Ridiculous, isn’t it?

How to Protect Yourself

First, you should always be cautious and skeptical of claims that seem too good to be true. Second, don’t forget to look for and read the fine prints carefully. Three, be watchful and understand that  most broad claims are going to have some type of disclaimer, footnote or limitations.

But We Thought the Government Monitors False Advertising?

Well, the government does monitor such false ads. However, there are limits to how much the state attorney generals’ offices and the Federal Trade Commission(FTC) can do. For instance, the FTC  made it clear that, “ …advertisers cannot use fine print to contradict other statements in an ad or to clear up misimpressions the ad would otherwise  leave” (Karp, 2012 p.4). The problem, however, is that, the state attorney generals’ offices  and FCT are overwhelmed: There are so many  misleading ads that use fine prints that no government agency can review all of them.

The Bottom Line

Caveat emptor – be your own ad  watchdog!

Sources

Karp G.(2012, November 25): Find Truth in the Fine Print. Baltimore Sun(Business & Jobs Section) p. 4.