B2B: The Easier and Faster Way to Make a Profit

The success of B2B start-ups demonstrates that it's easier to make a profit helping businesses as compared to consumer tech start-ups that rely on millions of users to make a fortune.  The article from Inc. magazine's October 2013 issue helps you visualize this success phenomenon by citing companies, such as Synapp.io, which is a B2B company that has become profitable with only 6 employees and 1,000 paying customers.  Likewise, Firefly co-founder Dan Schipper states that in some cases, you only need to sign up 10 or 100 companies to make your business viable.  Read full article on p.24 of Inc. magazine, 2013.

Sell Your Product in Foreign Markets

There's an unexpected turn in the economy of Michigan -- one that is impressive.  Based on current findings, Michigan-based companies are five times more likely to be in the exporting business than the total of 30 million companies across the U.S.  This nice turn of events has been driven by the state's efforts in "enabling global connections."  To reach this goal, the Michigan Economic Development Corporation (MEDC) opened offices in Brazil, Canada, China and Mexico in order to build connections outside the U.S.  In addition, the Michigan State Export Trade Program was established for Michigan business in order to "offer assistance and grants for marketing, access to trade shows, and other export-related purposes" (p. 62, Inc. magazine, April 2014).  MEDC's Business Program also serves to connect Michigan-based companies to other businesses in the state as well as outside of the state.  There are two big corporations in Michigan, like Chrysler and Ford, that can do business with you if you are in the state.  But the program also connects Michigan-based companies to businesses outside of the state, such as Boeing and military contractor ManTech.  Read full article in Inc. magazine, p.62, April 2014.

Winemaking?

photo:  scienceinshort.wordpress.com

Are you interested in winemaking?  There's a small city in Washington state in the U.S. that offers a two-year wine program at Walla Walla Community College.  The college's center for Enology and Viticulture opened it's doors to wine students in 2003.  The number of students enrolled in the program is usually 30.  Students learn about crushing and grape selection, growing, harvesting, fermenting, barreling, blending and marketing.  When the course is completed, the students receive two internationally recognized certificates in viticulture and in enology.  Read more about it in Inc. magazine, p.60, April 2014.  In the U.S., there are some recommended winemaking schools in this list http://www.collegexpress.com/lists/list/colleges-with-notable-wine-making-programs/237/

A Hint About Money for Your Business

photo:  rainbowscuba.com

Getting investors for your business might be problematic because:

"Sometimes, money just hides the real problems..." in which case, the money will be wasted.  Also, looking for investors is time consuming, taking away valuable time from strengthening the foundation of your business.  And you can't ever be quite comfortable with taking money from investors.  It may bother you that you have to answer to somebody else each time you spend.  Without an outside investor, your experience could be less painful when you fail, you can move faster, and you can make decisions on your own.

Read the full article, Money Is Overrated, in INC. magazine, p.18, April 2014.