the midterm elections and small business. what issues matter the most? and will small business owners have clout at the ballot box? and a local food store in carlsbad, california, has customers hungry to eat and shop small. cutting edge entrepreneurial advice and information to keep you ahead of the competition, coming up next on "your business." ball misses are revitalizing the economy. and american express open is here to help. that's why we are proud to

present "your business" on msnbc. hi there, everyone. i'm j.j. ramberg and welcome to "your business." small business saturday is fast approaching. the yearly effort to get folks to shop local the saturday after thanksgiving has blossomed into year-long efforts around the country to get customers to support independent businesses. here is a great example of how one person's successful start-up has boosted the business growth of retail shops and eateries all over her small town. this is exactly the kind of win-win business story that other communities can learn from, too. >> i'm cheri and i'm going to be

your guide. >> cherimarie poulos has lived in the carlsbad area for more than 30 years and she loves showing tourists and locals the things that make her neighborhood so special. >> we're going to do a three-hour guided walking tour around town. and then we're going to do stops at seven different restaurants, and wine tastings. anybody like wine and food? let's go. >> earlier this year, cheri started carlsbad food tours. she did it as a way to prepare for her retirement. >> i've been a nurse for 32 years now and i'm still actually nursing. this is kind of my retirement plan job. >> what she didn't realize is that her one little company would have a ripple effect that would help other small businesses, and the local community, thrive. >> i think the tour's been a great promotional opportunity for us. many people that go to the tour

didn't even know that we existed here on the corner. >> reporter: laura ryier is the owner of the chocolate bar. for her cheri's tour gets people to come down her street in a direction too many people miss. >> they don't even know that we exist, even though we're only a block and a half away from the main strip. >> reporter: jackie, owner cafe topes also needed some help getting people to check out her store. there's no question, people who try her cinnamon rolls love them. >> wow. >> what's the number one breakfast spot in carlsbad? >> okay, here's the highest rated cafe topes from carlsbad. >> reporter: but she says when people go out to eat they often hop on the freeway and head to the nearby malls. completely ignoring local places like hers. >> just a couple exits away we have a lot of major chains. >> reporter: it's hard for here to compete with the big name restaurants. but cheri's tour introduces new people to her place. and that's what many of the small businesses like hers need.

>> just know that if you can just get them in here, just get them to try it you have them. but it's expensive. >> reporter: steve grady recently opened an innovative ice cream shop called subzero. he makes custom flavors on the spot, using liquid nitrogen to flash freeze the portions. despite his great location right in the center of town he's selling something new that people don't totally understand and it's hard to get people to try it. which is once again where cheri is so helpful. >> that's what we think about 90% of the time. there's no doubt about that. >> not only have cheri's tours helped boost customers but they've also helped the businesses take notice of each other. >> the businesses work together because now we recommend our customers to go to each other's spot. >> tim is the owner and publisher of carlsbad magazine.

he says even nonfood businesses not featured on the tour have benefited too. >> as you kind of meander through even though you're on a food tour you certainly are noticing the window displays. you might say we're going to come down here tomorrow and get a new pair of shoes, or, you know, whatever it is. >> her business is still in its infancy, but as she grows so do the number of people visiting these off the beaten track food establishments, and that's gotten everyone excited. >> what cheri is doing with the food tours is very different. it was an opportunity that she presented to us of how she could group us together, cross promote to the, and how it was just a win-win. so in that aspect, she's done a great job. >> americans go to the polls in what is shaping up to be a potentially house toric midterm election. while recent surveys show that small business owners are optimistic about the economy,

they also show deep skepticism about whether washington will fix problems that directly affect them. as they head to the ballot box, government regulations and health care weigh heavy on the minds of america's small businesses and entrepreneurs. rick newman covers business and economic trends for yahoo! finance and jay goltz is the ceo of the goltz group. he owns and runs five businesses. he's also a small business blogger for "the new york times." all right, jay, i want to start off with you. we're going to go through a list of things small businesses should be thinking about as they go to the polls, let's just start with one of them. any one you want. >> immigration reform. they've been talking about it for years. it is a real problem. we interview people all the time. we like them. we go to put them through e-verify and it doesn't go through and we've had people literally sitting in the office crying saying my father told me this was straightened out. i've been in this country for 32 years. and it's a problem, and it's bad for the economy.

it's bad for the workforce. it's a problem, and they keep saying they're going to fix it but they haven't. >> all right, rick. so our crystal ball. is anything going to move forward? >> crystal ball is pretty cloudy. so let's assume we end up with a republican controlled senate. we're going to have divided government just as we've had for several years now. so i don't think we're going to see any big breakthroughs at all. one big thing for businesses i think they can look forward to is the absence of self-destructive antics like shutting down the government, threatening to follow up on the debt. if the republicans want to persuade voters they can run things they have to do that going into 2016 elections. that's good news. that removes some of the uncertainty business owners complain about a lot very legitimately. immigration reform is really hard. really complicated. i think it's unlikely we'll see anything on that before 2016. we could see a few other small things happen, you know, fiddling on the margins if you will. >> let's talk about things that could happen that small businesses care about that could happen. >> well, businesses say, you

know, their top three concerns are they want more revenue. i don't think there's much a government can do about that. they want lower taxes. we're going to hear a lot of talk about corporate tax reform. i don't think it's going to get any -- reform the individual tax code too complicated to do in two years. possible there could be some kind of corporate tax reform. president obama has said he would accept a lower rate down to 28%, republicans have said they want it lower than that. there's room to meet in the middle if there's a willingness to compromise. one part of a compromise could be the minimum wage. that's another thing small businesses care about. that the cost of small businesses, you know, there are fast food workers advocating for $15 an hour. i think there's no chance we'll see a federal minimum wage there. it's now just above $7. we could see it settle out around $9. president obama has asked for $10.10. you do see room for negotiation there. americans do support in general a higher minimum wage. so we could see some action on that. >> so you have faith that actually things will move forward? >> i would never say i have faith.

>> these things are possible. a lot depends does each party see they have something to gain by doing something positive and pro-active. >> okay, jay, what about loans? what about small businesses out there looking for money? >> you know, i will tell you, i've done sba loans, i'm doing one now, the sba loan program is great. there's some tweaks there, though, if you had a 504 loan they're not allowing you to take money out of the building now if you're refinancing. it's out there in congress trying to bring it back to where you could get money out of it. and that should -- that would be helpful to businesses, because there's the 504 loan program, and then there's the 7-a loan program where you can take money out but it's more difficult and a lot of the smaller banks don't have the facilities to do the 7-a program so it would be helpful if they could just bring that back to where it was two years ago. >> you know what i find, for small businesses who are so steeped in getting so much stuff done often you don't know something is a problem until you know it's a problem. so, jay, if you had never gone

out to get an sbo loan you might not even know what those numbers mean, right? and so you wouldn't even know to think about how your congressperson would vote or you might not even know to think about how they care. so is there anything else that small business people just might not have on their radar that they should be very aware of right now when they're voting? >> i would say the section 179, accelerated depreciation was a great thing. it absolutely helped. you could deduct things if you bought a big piece of equipment, you could deduct it quicker. that they restored it for this year but it's questionable what's going to happen next year. that would be something. and j.j. to your point, you're absolutely right. i wouldn't have known about the sba program issues if i wasn't in the middle of refinancing. so there are things like that out there that aren't going to cost the government any money that accelerate depreciation just pushing forward the deduction. they're going to get their money in the back end. it's very, very helpful to small business. and it's frustrating that every year you don't know what they're going to be doing. >> one thing i would add is you

know we're having elections not just at the federal level, but at the state level, too. one thing that really is difficult for small businesses is the overlap of regulations. i mean practically every business owner will tell you, you know, i'm dealing -- you know, i got the same pile of paperwork from the state and from the feds, and they overlap. it's extremely difficult to sort this out. i mean a lot of these regulations are state-level regulations and even local regulations. we're so fixated on national politics you forget you maybe can make a little bit more of a difference at the state and maybe the local level. it's very worthwhile to get involved there and see who's running what other policies. >> such a good point. because it is true, so many of the small businesses that i talk to, the regulations on the local level are the ones that bog them down. and oftentimes they may make sense for big business and not for them and yet they're still having to fill out all the paperwork. >> you can get involved at the local level. that's where government arguably works at the lower level. you can get involved and make your views known and maybe get something done to change them. >> all right, rick and jay, thank you guys so much for

having this discussion with us. we look forward to seeing what happens on election. >> thanks guys. >> whether it is during the midterms or outside of election races hispanic entrepreneurs are like all small businesses owners. u.s. hispanic chamber of commerce national convention they simply want an environment that sets the stage for their company's success and they want to help power the economy. >> small business owners from across the country gathered in salt lake city to attend events and ceremonies held by the u.s. hispanic chamber of chers. >> the united states hispanic chamber of commerce represents 3.2 million hispanic owned firms in this country that collectively contribute over $468 billion to the american economy. additionally, hispanic owned firms in this country are growing at a rate of 3 to 1 when compared to the general market. >> from break jut sessions to networking events the focus was on helping hispanic entrepreneurs gain information about resources, make

connections, and grow their businesses. >> what we do as an association is ensure that we're helping to close the gap when it comes to knowledge on running the business. the standard information and skill sets that sometimes are off -- are missing in the hispanic business community. >> the head, administrator, the first hispanic woman to ever hold that position, says the sba is working hard to help latina small business owners flourish and be able to get access to market opportunities. >> one of the reasons that i'm here as the united states hispanic chamber of commerce is that women are starting up businesses at much -- they're overindexed. latinas have a start rate six times over the national average and that's remarkable when you figure how women in many instances don't have a choice. that's why i asked the congress to act on what we call sole

authority. when women come in to secure contracts from the federal government the u.s. government is the largest procurer in the world. >> most of all the focus was on making sure that no hispanic small business owners are left behind. helping them to grow and survive is just good business. >> from both the public and private sectors, i think that there's a lot to be gained. it is a pleasant surprise to us that as we stand this right now is the largest gathering of hispanic business leaders in the history of the united states. >> thinking of offering a new product or releasing a new upgrade to your service, here are five ways to get your launch off to a good start. one, ask your top customers to text. incorporating their opinion will make your product better and also shows you acknowledge their expertise in the industry.

two, get some publicity. when launching a new product make sure your potential customers know about it. you can give bloggers and the press a heads up that you're releasing something new. three, develop a plan. figure out the best way to market and advertise in order to reach your target audience. four, sell to your existing clients first. let them know about your new model and why they should upgrade. consider offering a promotion to upgrade from old to new as appreciation of their loyalty. and five, ask early users for reviews. possible buyers will pay attention when somebody they recognize, or is similar to them, directly and clearly explains how your product benefited them. still to come, how to get customers to be as engaged with your e commerce site as they are with your brick and mortar locations. and our viewers share their favorite online tools and apps. also we stretch out with today's elevator pitcher who wants our panel to get physical with her exercise product.

if i can impart one lesson to a new business owner, it would be one thing i've learned is my philosophy is real simple american express open forum is an on-line community, that helps our members connect and share ideas to make smart business decisions. if you mess up, fess up. be your partners best partner. we built it for our members, but it's open for everyone. there's not one way to do something. no details too small. american express open forum. this is what membership is. this is what membership does. i tried to grow too quickly. and, you know, the company got very overextended. and if you don't think about what could go wrong and prepare

for what if it doesn't work out, you can leave yourself very exposed. now, as i look towards the future and i think about the business i'm always trying to weigh the pros and the cons, and always trying to make sure i have a safety net for whatever decisions we make. >> are you looking for a new workout that will help you take off some bounds and build muscles? today's elevator pitcher says he has the idea product to keep you in shape. let's see if you agree with our panelist, angel investor alicia syrett, and heather thompson, founder of yummy by heather and one of the real housewives of new york city. >> i'm barbara graffeo, ceo, and 2014 women of the year with napw, ben hart my trainer. we are rexist 360 a patented innovative technology based resistance band training system from the home to the gym to the field, and even in your suitcase we're a gym in a bag. four levels of resistance bands

give you functional training, space and prevents injuries. the science and technology behind the bands is worn around the body give you even distribution of weight burning muscle tone evenly. they're made of material poly, and rubber. they give you mobile flexibility, complete movement, linear and lateral. for the athlete you've got the pull and the push and the drive giving them first foot quickness. you're working inner and outer legs for true resistance. unbelievable product true results. we're currently selling on our website, amazon, sports authorities coming soon. we started classes in manhattan gyms, boutique gyms, it's phenomen phenomenal. we're at $99 retail. we have approximately $75,000 in sales. we're seeking $225,000 for product and placement. >> but you got the -- that was great though. congratulations. i'm going to give each of you

guys one of these. i can trade you. >> thank you. >> i have pens. >> so one to ten, not how much you like the product, but how much you liked the pitch. and it sounds like you've got a real groundswell going. >> yes, we do. >> seems like a good time to start pitching people because you've got something there to tell people it's working. >> okay. let's see. alicia, you first. >> i gave you an eight. i thought you did a really good job. i thought that you told us great information about the product. you were clearly very energetic. you gave us some information on traction. and financials. how much you were raising. and you also told us a little bit about your marketing efforts. i might have liked to hear maybe a little bit more about how large the market was. but overall i thought you did a really great job. >> thank you. >> congratulations. >> this is your target. because alicia -- heather? >> i gave you a six. because i loved hearing about the product. but i don't know what you need the money for. so that i missed. i didn't find that in the pitch. like what are you looking to invest for. you're already in stores. you've got the technology down.

you know, it's a great product. i like the in the bag. i think it would be a great video idea for you. you know, hotel idea where you could brand it with a hotel so there's in-room training with it. i want to know more! so the product you sold me on but i don't know what you need me for. >> thanks so much for your advice on this. >> thank you. >> thank you for being our fitness model. really appreciate it. good luck with everything. >> thank you so much. >> and if any of you out there have a product or service and you want feedback from our elevator pitch panel on your chances of getting into investors, all you have to do is send us an e-mail. in that e-mail do not forget to include a short summary of what your company does, how much money you're trying to raise and what you intend to do with that money. we look forward to raid iing reading your pitches. >> let's get heather and alicia back in here to help us out. the first one is about customer

interaction. to help us out. the first one is about customer interaction. >> in my business, i encourage people to come into my shop and play and engage their senses and really have a connection and a real-time fun experience. how then am i supposed to encourage online shopping when my store itself is the an thissis of just looking and shopping online. >> good question. >> i love that one. >> i've been to her store and it's beautiful and an amazing experience which you cannot replicate online. >> she shouldn't try to replicate it online. what she can do is take the online viewner to the store. give reactions of people when they're touching the product. what she is writing in her copy is really, really important. reviews. what tapped their senses about it. she can tell the story online without being able to go in there. don't forget, oftentimes people who see things in a store then go online and shop for it. she has to grab who she got in the store and then through

promotions or online promotions she can get them to shop online, as well. >> i'm thinking, if she thinks of this as one big thing, this is who we are. >> i think the online present should be an extension of her brand. so, if she's really priding herself on having this wonderful in-store experience, what are her creative aspects she can portray online. not just having a website where it's like here's the product and here's the price and are there rewards that you can do? are there promotions and fun ways to engage the audience. are they giving information, uploading pictures. so, really making that website an extension of the brand and then it is a little more seamless and it makes more sense. >> video is really, really great on websites and she's the candidate for it. >> let's move on to the next one. engaging with the all-important members of your staff. >> what else could we be doing

to ensure that we retain those individuals that essentially make a professional service corporation viable and successful. >> that's a great question. particularly for people who are running small businesses, you're so busy that you just assume everyone is happy and you're doing a good job and oftentimes it's not, your employees are often your biggest customers. so, for him, his employees are the front line, too. >> retention is incredibly important and a number of formal ways and informal ways. formally, how do you include your employees in equity brams where they're earning equity in the company. it's much tougher to walk away when you're part of it and then also maybe have that ecquuty invest over time. it's hard to leave when you're forfeiting equity. you can think about rate creative benefits. how are you about the 401(k)

plan? is that generous? are you providing snacks in the kitchen? generous vacation policy. these are all things you can do that really differentiate your company and help it set apart. it is really harder to leave that company when you feel benefits are tailored and not easily recicable else where. sit down with your employees and maybe they feel like they want one day a week and they work at home, if provider providing everything, it's harder for them to leave. >> other than financial things, team building. i love this idea of stay interviews versus exit interviews. you go to the people who have been with your company for a long time, what do you love here? what to you love about the culture and you grow those ideas. you have to invest in your employees. you have to do workshops. everybody loves a good pat on

the back. recognizing when people have done a good job and creating a culture that has a real entrepreneurial spirit. maybe if they're not given a part of the business, they feel like they're a start of the business because it's all about the building whether they're financial or they're not. you have to spend time with the nucleus of your organization because when you're building it and when you have built it, your employees are the most important thing. >> i love this idea, the stay interview. i called it that before. the companies that i interviewed, it is not haphazard. those founders fought very hard about what is our culture and they trained people who fit the culture and it is embedded in the whole company. >> we do it at yummy. we're six years old. it's really important to let your employees let you know what's cooking through outside agencies sometimes. >> it is so fun to have two really strong business women who

have been so successful on the show this week. >> great to meet heather. thank you for having us. if any of you out there have a question for our experts, we answer them here on the show every single week. go to the website openforum.com/yourbusiness. once you get there get the ask the panel, openforum.com/your. business. drop us an e-mail if it's easier for you. your smartphone, your tablet or your computer can help you better manage your crazy life as a small business owner and that's why we asked our viewers to share some of their go-to apps and web tools. >> i've always been surprised at how many sales we generate through instagram. provides beautiful images and a social media experience but people often contact us and new customers and purchase because they've seen us on instagram.

>> one of my favorite apps is visco. makes it easy to take photos and upload them into instagram. they can provide filters for us to make them look professional and it helps our brand as we try to build it and great community of people who want to follow us as we continue to share about what we try to do. >> our team uses a new app called pocket which allows us to store our ideas in this idea bank and then as an innovative company, we have a million ideas flying through our heads and we have this policy of creating an idea bank. so, anybody who likes or thinks of a new idea, we like to create it and put it in our idea bank for a team meeting. >> my favorite app to use is ditch labs. an inventory tracking and helps manage your orders and your expensives and i love working with it. it's a small business, too. realry cool to kind of support

each other. >> i love hand shake which is a mobile application which allows you to take orders on your iphone or ipad. it's fannestic because we can take orders all day long and upload them at night and analyze our numbers right away. >> a new number we connected with is waze. i find even though i know where i'm going in new york or los angeles, there is always unexpected traffic. waze is way to guarantee i'm never late to a meeting or missing a flight. thanks, everyone, for joining us. if you want to learn more about today's show, head over to our website. openforum.com/yourbusiness. you'll find all of today's segments, plus, web exclusive cop tent with more information to help your business grow. follow us on twitter @msnbcyourbiz. next week, continuing our small business saturday

countdown, we look at a community in arizona that's encouraging shoppers to shift 10% of their spending to local businesses. >> the important thing about the 10% shift is that we're conveying to people that small incremental shifts in their behavior could make a big difference. >> find out how this successful campaign is getting local residences to change their spending habits to support their main street. until then, i'm j.j. ramberg, remember, we make your business our business. if i can impart one lesson to a new business owner, it would be one thing i've learned is my philosophy is real simple american express open forum is an on-line community, that helps our members connect and share ideas to make smart business decisions. if you mess up, fess up. be your partners best partner. we built it for our members, but it's open for everyone.

there's not one way to do something. no details too small. american express open forum. this is what membership is. this is what membership does. is it slipping away for democrats? all right, good morning. thanks for getting us up with this sunday. two days to go. two days to go, 48 hours until election day. we reached the home stretch of the home stretch and comes with late-breaking signs that the senate may, may be slipping away from democrats. overnight the "des moines register" released its final poll. it shows the republican joni