Skip to main content

tv   Your Business  MSNBC  January 31, 2016 4:30am-5:01am PST

4:30 am
sounds like my ride's ready. don't get stuck on hold. reach an expert fast. comcast business. built for business. good morning, coming up on "your business" a owner of a computer shares her tips on contracts. and the world's greatest entrepreneurs share their wisdom on the importance of stellar customer service. want to grow your small business? find out how, next, on "your business."
4:31 am
hi, everyone. welcome to "your business." here is a question for you. what do carpets, oatmeal cookies have in common? the federal government are the biggest purchasers. we spent time with a small office products business in california that has gone after some of this money and succeeded in cracking the complicated code
4:32 am
in doing business with the government. >> the government is the world's biggest procurer of products, right? so that's an opportunity for someone like this. >> rosemary is a lock star at doing business with the government. >> at just 33 years old, she mastered getting diversity certifications, getting government contracts, and filling out piles of paperwork. >> she doesn't necessarily do things the way everyone else does. >> so many are turned off but red tape, she sees her dream customer. someone reliable, pays their bills on time, and not only wants, but has to buy products from a small business. >> when do they need the call back by.
4:33 am
>> when she launched gorilla stationers, she was bound and determined to get her small business a slice of uncle sam's pie. >> it was always the plan to become a diversity seller. >> for her, it was just about experience. rosemary's snack for the office fly business and fearless government contract -- >> federal law requiring that 23% of those dollars be awarded to small businesses, rosemary
4:34 am
could not afford to let an opportunity as big as this pass her by. she had to g out on her own and start a business. for the uninitiated, working with the government can be daunting. that's why we asked her to share some dips. she said, if you can, get a diversity supplier certification. >> they have them for business run by a woman, a hispanic, they have to spend their money with these designations. >> so women owned businesses get 5%. if your head is spinning,
4:35 am
rosemary says contact your local small business development center and have them help you out. >> let's peck a day to come over. >> yeah, i would love that. people with experience with the government can guide you through the process. >> you have to know who your target market is. >> serving the government customer means understanding the unique product needs. >> government wants to purchase recycles products. it's a key niche tiff, and we are able to provide recycled products. sdwr understanding what appeals to the government allowed her to
4:36 am
buy out other companies. first we purchased gizmo. and then we purchased ink for all. they just sold toner and ink, and gorilla stations have that and paper and other things. >> she approached us an inquired about acquiring ink for all. >> now, the ink and toner portion of the business is a big seller at gorilla. especially for the customer looking for the special recycles products. >> we're always looking for new
4:37 am
tracts and segments of businesses that we can get involved it. >> another way to fend out if you want to work with government agency, and if you qualify to, is to go to a how-to class. >> they regularly have classes. how to do business with this agency. what paper work may be required. >> there is the dreaded word, paperwork. >> it's government, so it's all about the paper unfortunately. she had some experience, she knew what she was up against, and she understood. >> once all of that paper is done and the first contract is snagged, it gets easier. >> we have limited time and dollars and i think the
4:38 am
acquisition cost is higher. now you have credibility. >> rosemary now has customers at the federal, state, and local level. as she guessed when she started the process, they have turned out to be some of the best customers. >> they pay their bills on time. before they pay big businesses, they pay our invoice. the iowa caucuses are coming up, the first voting in the 2015 presidential race. it will be the first test for donald trump. what kind of president would he make and what example would he have on america's small businesses. knowing him swell bill ransic. i want to take about you aur small business owner.
4:39 am
what would he be like as a president for small business owners. >> he is pro small business, entrepreneur, second generation entrepreneur and i think he believes in small business. he understands how important they are to our country and that they employ more people than any other business sector out there. bu >> but that is if you just take small business as a silo and then there are inflammatory comments about immigration, muslims, women, et cetera. >> politics are politics. and my mom taught me you don't talk about politics or religion unless you're at the kitchen table. he was very good to me, i'm
4:40 am
forever grateful for that. >> will you be voting for snim. >> of course. >> thank you for giving us your insight. >> your own perspective has so much influence on how far you can take your business. if you can't envision it getting any bigger, how will it get there. the owner of a security guard company who said it simply took changing her attitude for her company to grow. >> for jessica johnson, there was no question when her father died she had to take over johnson security bureau. the security guard company his parents and he ran for 50 years. the bronx has some of the highest unemployment rates in the state and the country. we want today contribute back to the community that helped us. >> her mission was clear from
4:41 am
day one. her sights were not set very high. at the time the company had 16 guards and she put together what she thought was a optimistic projection. >> i didn't have the scope right, and i think that is what stops a lot of small businesses or keeps a lot of small businesses and entrepreneurs where they are. they don't realize the size and opportunity out there. >> today she has 150 employees, and her revenue has increased more than 600 times. a far cry from that 5%. what changed? basically an advisor sta sked jessica what she would do if money was not an issue. >> a lightbulb went off. so now sense about 2010, we have been working on all sicylinders. >> they started bidding on jobs they didn't think they would
4:42 am
get. >> early on when you were pitching big clients and you had not had many or any before, were you thinking what are we doing? >> no, we had a card table and folding chairs. but we thought what do we have to lose? >> soon, someone didn't say no and that was the beginning of the nonstop growth. >> they called us, i believe on a wednesday, and said they wanted us to start the following monday. we had to hire people, have them trained and certified with a site specific training and have them ready to work for that following monday. >> they went from 16 employees to 36 employees overnight. they expanded services providing armed and unarmed guards. it all meant they had to look hard at how things were being
4:43 am
done internally. >> lots of things had to change. there are people that started the trip with us that are no longer on this ride because they department have the vision. >> jessica and her team are still throughout pitching. when i asked her how big the company could be, she told me this -- >> i think it can rival some of the largest security companies in the world. >> when you got here you said i think question have 5% growth and that is a big change in attitude. >> it is but i have seen big things happen in a small amount of time, why not? >> a big part of business is communicating with your
4:44 am
customers. one, add your handle to marketing materials and merchandise. more people check you out if your name is on the post. three, liking pictures is nice, but leave comments with your name to get more exposure. encourage sharing. post a give away that encourages a follower to tag a friend. and five, give people a reason to follow you. incentivize them about the content you're providing. there are two parts to growing your customer base. first is attracting them. the second is retaining them. you will never do that if you treat them poorly.
4:45 am
we have heard team and time again that exceptional customer as much as is imperative for any business. here are words of wisdom from some respected ceos and founders who say always put the customer first. very important. you want to develop trust. if you make something that falls apart, you don't get that customer back. and i want to grow my customer base. i want to be where that customer needs and wants me with good stuff, practical stuff. things that last. things that don't cost too much money. great companies that have
4:46 am
been successful, walmart, costco, home depot, companies that spend time talking to their customers, and not talking at them, but responding with them. >> follow up calls on every job and we ask every customer how can we do. what could we have done to improve. it is a perpetual learning cycle with our business. we have to always be better and give the customer what they want. in the restaurant injury, the single most important thing you can have is customer service. for me, my tips for successful customer service is eye contact. once you have that dialogue
4:47 am
going, you have connected and that is half of the battle. it's amazing how forgiving the guest may be if there is something wrong. if you made that personal connection. >> we always put the customer first. you have to think of things from their point of view. make them comfortable and like they got a great value. >> customers say just give me $50 for the scratch on the table. we had a sorry package. we will pay to have anything fixed. >> you never meet a customer's expectations, you meet it or you
4:48 am
fail, or you exceed. we do one thing almost no one does. we're one of the few national companies that call every customer assay how did we do. they return when we call our customers and ask them how they did. >> genuine care is really critical. our frequent guest program is called kipton karma. and they might show you to your room. maybe there is a free drink, $10 off. a bottle of wine, a teddy bear. we try to track what is important to you and do things to surprise you. you know, it is like water.
4:49 am
flow with it. flow with the community. go where that go. if your community goes on snap chat, go there. if they periscope, go there. maintain that conversation with them. >> still to come, how to connect with customers in a digital world and advice on maintaining control over your network online by acting like a duck. our cosmetics line was a hit. the orders were rushing in. i could feel our deadlines racing towards us. we didn't need a loan. we needed short-term funding fast. building 18 homes in 4 ½ months? that was a leap. but i knew i could rely on american express to help me buy those building materials. amex helped me buy the inventory i needed. our amex helped us fill the orders. just like that.
4:50 am
another step on the journey. will you be ready when growth presents itself? realize your buying power at open.com so, how do we as owners and as managers be able to really connect with our customers? in a virtual world investoraging some of the opportunity there's. >> so, david, this is a great question. and it's not getting any easier as more consumers move to the din tal world. so i have a few suggestions for you. the first would be, is figure out if there's a way, every once in awhile, to directly take customer service calls or feedback on your website. put yourself in that position versus some of your other employees. the second idea is to think about ways where you can pro-actively interact with potential customers. so, for example, if you have a food company doing direct demos in a grocery store, or maybe going to a trade show, or even sponsoring events locally, and
4:51 am
getting that one-to-one customer interaction. and then finally, most obviously, i would say, solicit feedback. ask customers for feedback. whether it's a part that is on your website where you're soliciting views or even asking on social media. you'd be surprised how many people have feedback ready to give you, but people just don't ask for it. so i would say you've got to be pro-active. and really create opportunities to interact with your customers. >> we now have the top two tips you need to know to help your small business grow. let's introduce our board of directors and get their advice. jim placing game is the president and found your of the small business network and the host of the small business advocate show and serial entrepreneur bill rancic is here with us as well. you may remember him as the winner of the first season of nbc's "apprentice." all right, jim, your tips? >> act like a duck. >> okay. >> everyone should have a social media strategy. right? but remember this, the big platforms, facebook, twitter, all those guys, right, they're
4:52 am
in business for themselves. they're not in business to help you. and if they decide to change the rules, and those rules make upset or make mad your communities, your customer communities you've been building on your social media platforms, you're going to wake up one morning and all those communities are gone. so act like a duck, and migrate those names, those contacts over to a parallel universe like an e-mail list, for example, and to make sure that you won't wake up one morning with all those contacts gone, because facebook or linkedin or whoever did something that they didn't like. and that list then becomes either a bakeup, or maybe even a plan "b" marketing strategy. act like a duck. migrate your contacts. never forget this. the big platforms are great, but they're in business for themselves, not for you. >> hmm. >> all right, bill? you're up. >> business is not a sprint, it's a marathon. and i think when you're approaching business you have to look at successful marathon runners and how they win those races. they take that overwhelming goal and they break it down.
4:53 am
and they want to get to mile five and mile 10 and 12 and they celebrate those successes along the way. and that's what you have to be in business. don't sprint out of the gate. it's a marathon. break it down into smaller sections, and fix that overwhelming goal and it makes it a lot more manageable. >> it's hard times when you're running a company, because you read of all the success stories and you feel like that should be you. >> that's right. >> and often what you don't hear is that they were an overnight success that took ten years to get there. >> right. >> right. you never get that story. >> can i add one little thing? that's an excellent point. but don't be afraid, don't forget to celebrate that milestone. when you get -- >> mile five. >> stop, look around you. go ahead and be proud of yourself. and let the people around you celebrate it. >> i think your employees need that. >> that's right. >> and your customers. your customers like it when you're successful. >> otherwise it becomes so overwhelming. when you're a marathon runner, 26.2 miles. >> right. >> oh. >> i'm at mile one. and then when you say, okay, i'm going to get to five.
4:54 am
and i'm going to celebrate mile five, and ten and that's what you do in business and it makes it a lot more manageble >> so what do you do when you don't get to five? >> i failed. >> yeah. >> you just get up and you do what we were talking about, you hit the wall, you get up and you go again. you're all in. you have to believe in yourself. if the marketplace fails you, if your capital fails you, if you don't believe in yourself, go clock in the bar. >> i think that's a great point. especially this younger generation of small business owners, they're playi ining def too much. and they're so afraid to fail because of the way they were brought up. these parents today are coddling these kids so much where they can't fail, they can't make mistakes and therefore they never grow. >> you have to have a relationship with failure. >> without a doubt. without a doubt. >> because it's going to happen to all of us. >> it has happened to all of us. >> things happen and you are disappointed. all right, well, great. good to see both of you. >> thank you, j.j.
quote
4:55 am
>> this week's your biz selfie co comes from sean newsome. you can see him celebrating being named the sba's nevada family owned business of the year. now why don't you pick up your cell phone, take a selfie of you and your small business and send it to us here @your business. or tweet it t to @msnbcyourbusiness and use the #yourbizselfie. >> help may be on the way for small businesses that would like to offer 401(k) plans to their employ reighs. the president is including a new proposal in his 2017 budget that would help employees at small businesses save for retirement. if approved by congress the rule would reduce administrative costs and make it easier for small businesses in different industries to join together to split the cost of a plan for employees. here to talk about how this impacts small businesses and their employees is paul simon
4:56 am
president of simon financial group, and a financial planner affiliated with lincoln financial advisers corporation. he specializes in working with individuals and business owners to develop strategic plans to meet their objectives. good to see you. that was a mouthful. okay. so, so, 401(k) plans, a lot of small businesses don't do them now, from my experience, for two reasons. expense, complication. >> yes, yes, and yes. >> yes, so i mean i think everyone understands that we want employers would like their employees to the government would like people to save for their retirement. but for someone who is in the hot seat right i have my small business and i want to set up a 401(k) plan and i didn't do it before, will it be easy for me to do now? will it be cheaper? will it be easier? you know, am i not going to spend three weeks trying to understand it? >> yeah, so number one the costs are not as expensive as people perceive, number one. number two, yes. there are some complications. and we need to do an analysis, as to what am i on the hook for as a business owner?
4:57 am
what's the benefit of me? do i get a tax deduction? i have to give a contribution, i don't have to, but it makes sense for me to give a contribution to my employees, versus do i have to take this money and pay income tax. now there are some positives. to the system, but congress approving this. so, the first is that the business owner would get a $500 credit, for three years, total $1500. by implementing this savings plan for the employer and benefit of the employee. >> got it. >> great. >> so if i start this money is coming back in my pocket. >> fabulous. under this plan, because it's government regulated, the contributions are after tax, like a roth, so you're paying income taxes and then contributing number one. number two, it's also going into a treasury type of an account which, say is currently paying 2%. so now, between you and me, we all know that if we're saving money for the long-term, we know
4:58 am
that we want to invest this money a little bit more aggressively, a little bit more growth oriented. because this isn't money i'm touching for the next 10, 15, 20 years. >> unfortunately, have to stop us here. but i think this is, it's interesting, right, the idea that people are starting to think about retirement, and employers, because a lot of small business owners have shied away from this. so, again, we should keep looking out for this and ask our employees if they want it. >> and they really should look at what's best for them. they need to get an adviser to do strategies and determine, what are my net costs. >> thanks so much for joining us today. we would love to hear from you. if you have any questions or comments about today's show send us an e-mail to yo yourbusiness@msnbc.c yourbusiness@msnbc.com. you can also go to our website, openforum.com/your business. we posted all of the segments from today's show, plus a lot more. and don't forget to connect with us on all of our digital and social media platforms, too.
4:59 am
next week, the creator got it wrong when he thought he knew who was going to buy his wooden swing. >> when i originally came out with this product my intention was to go into the surf and skate board for older kids. >> we'll tell you why sales are on the upswing now that he knows how and where to sell his product. till then, i'm j.j. ramberg and remember, we make your business our business. our cosmetics line was a hit. the orders were rushing in. i could feel our deadlines racing towards us. we didn't need a loan. we needed short-term funding fast. building 18 homes in 4 ½ months? that was a leap. but i knew i could rely on american express to help me buy those building materials. amex helped me buy the inventory i needed. our amex helped us fill the orders.
5:00 am
just like that. another step on the journey. will you be ready when growth presents itself? realize your buying power at open.com showdown in iowa. the last full day of campaigning before the caucus is finally here. >> please come out and caucus! >> so important is iowa, your caucus. >> we cannot fail. let's win on monday. >> caucus for us. speak for us. >> the whole concept of caucus is something beautiful about it. >> is donald trump for real? can ted cruz knock him down? and will hillary clinton hold off bernie sanders? it all comes down to this. from pork chops on a stick in the summer heat to the deep freeze of an iowa winter, the first votes of 2016 just hours away. a special edition of "politics" nation with al sharpton starts right now.

111 Views

info Stream Only

Uploaded by TV Archive on