KeepingNickels.com

I started this blog a year ago, and recently I bought the domain name, Keeping Nickels.  All new blog entries will now be over at KeepingNickels.com

Financing Your Business With A Microloan

If you have been looking to finance your start-up but the major banks have turned you down? then you may to consider getting funds from a microlender. Accion New York is the top microlender in New York.

Microloans generally cost more than bank loans, though some subsidize rates with grants. Accion’s rates range from 11% to 18%, and Business Outreach Center’s rates are about 8% to 12%. Banks charge around 9.25% to 11.25%

Compare to see if these loans may have better rates than a business credit card. Also check to see if the rate is fixed or variable. A fixed rate is better for cash management.

clipped from www.nydailynews.com Microloans, which typically range from $500 to $35,000 and are often doled out by nonprofits, are helping entrepreneurs citywide build day care centers, spruce up storefronts, outfit restaurants and launch beauty salons. “It’s important for people to understand that there is this source of capital,” said Paul Quintero, interim CEO of Accion New York. “Microloans are credit for the unbanked or underbanked.”

Mint : Personal Finance Application

While Geezeo and Wesabe have been buzzing around the past few months, another personal finance application has won over the Tech Crunch crowd winning for best presenting company at the Tech Crunch 40.I have yet to check out Mint, but I will and let you know in a full out review.

clipped from www.techcrunch.com Mint is a personal finance application that lets users track and monitor their financials in one place without the need of routine maintenance or accounting knowledge. Their application tracks bank, credit union and credit card transactions and alerts users to upcoming bills, low balances or unusual spending. Mint’s patent-pending technology automatically categorizes transactions, so users know with precision where they are spending money, what their bank and credit balances are, and how much interest they have earned. Their application also helps people find ways to save money by constantly searching for deals on credit cards, bank accounts, etc. Mint’s technology also analyzes your finances and makes suggestions all while using the same security systems as top banks.

Do It Now: Motivation Tips

Here’s a great way to kick off “Hump Day”. Incorporate these motivation tips and you will be humming along to Friday.

clipped from www.lifehack.org Motivation Tips Despite your best efforts, passion, habits and a flow-producing environment can fail. In that case, it’s time to find whatever emotional pump-up you can use to get started. Here are a few: Go Back to “Why” - Focusing on a dull task doesn’t make it any more attractive. Zooming out and asking yourself why you are bothering in the first place will make it more appealing. If you can’t figure out why, then there’s a good chance you shouldn’t bother with it in the first place. Go for Five - Start working for five minutes. Often that little push will be enough to get you going. Move Around - Get your body moving as you would if you were extremely motivated to do something. This ‘faking it’ approach to motivation may seem silly or crude, but it works. Find the Next Step - It’s impossible to work on a project. All you can do is focus on the next immediate step. Fighting an amorphous blob of work will only cause procrastination. Chunk it up so that it becomes manageable.

Morning Networking: Two Options

Crain’s 12th Annual Small Business Awards at a special networking breakfast next Thursday at Millennium Broadway Hotel 145 W. 44th St. (Between Broadway & 6th Ave.). Tickets are $65 before September 13. You can register here.

Friday, September 21 is the next LikeMind. Free!

Coobric: A Place For Co-Working

About two years ago, I quit my consulting job to be self-employed as a bookkeeper, consultant and freelance almost anything. When I first start, I struggled to find a place that I could just touch down with my laptop and work. First, I signed up with Paragraph, a writer’s space. It is a great space for working individually for not for collaboration. Next I started checking out cafes with free wi-fi. However, sometimes they get crowded and/or you don’t have an outlet for your battery charger. Now, I am so pleased to hear about CooperBricolage (CooBric for short). CooBric is a community of creative and entrepreneurs who seek an alternative to their home office and rental spaces.

CooBric is having a grand opening event Wednesday September 5 at Cafe Fuego, 9 St. Marks Place from 4Pm to 7PM.

Back To School?! Consider Teaching This Fall

06112006220
Originally uploaded by DerwinMcH.

September means back to school for kids and adults. Sometimes to move further in your business, you may need to take a class or two. However, experience is often the best teacher. There is value in your years of experience and passion, and this fall you may want to teach a class instead of taking a class. It really doesn’t matter if you are an expert in knitting or networking, there is probably a place where you can teach what you know.
Check online for continuing education programs at community centers, colleges, conferences, writing schools, senior centers, nonprofit agencies and see where can teach. Ask around or even consider teaching someone in exchange for other business services that you need.

If money is not an issue, consider volunteering your services and sharing your knowledge with others. Teaching is one the best ways to validate your expertise to others.

Cupcakes For A Cause

Practicing for Nana’s 90th
Originally uploaded by Busy Baking.

The Fourth Annual Cupcakes For A Cause is October 15 through October 21. This is a fun weeklong event in which participating bakeries and stores across the US will sell specially decorated cupcakes and donate a portion of the proceeds from their sale to CancerCare for Kids.

In addition, companies and individuals are also invited to sponsor bake sales to help raise funds for the program.

In New York, Crumbs Bakeshop will be the “spokesbakery”, and check out the
Cupcakes Take The Cake Blog that I run with my friends, Allison and Rachel.

Bookkeeping Tip: If you make donations to this or any other charity, make payment via credit or debit card or get a receipt if it a cash donation.

Small Business Conferences

Conferences are great way to meet new people, develop new business and market yourself.  There are two upcoming conferences this fall that you want to check out.

The New York Times and American Express’ Open is hosting a Small Business Summit on October 10 at the Sheraton New York.  Keynote Speakers are Danny Meyer of the Union Square Hospitality Group and Tom Scott of Nantucket Nectars and Plum TV. Registration is open and the fee is $99.

The New York XPo for Business is more of a small business trade show.  There will also breakout on technology, small business financing and healthcare. The even is Wednesday November 28. Registration is open and it is free to attend, but it costs to be a vendor. I attended this last year, and it was informative, but there is more of an emphasis on selling services.

Selling Online

Selling products is quick and easy, but you may want to review the legal aspects of selling online.

Safeselling.org offers a resource for business people launching ecommerce enterprises and for businesses venturing into online sales. First-time entrepreneurs and established small to medium-sized business expanding their horizons should find helpful information on this site about selling goods and services online.

And if you are fed up with eBay fees, then you want to try selling on eCrater.