Category: Brandpoint Business & Finance

2018-11-27T07:01:00

(BPT) – Thirty years ago, most Americans could safely rely on Social Security and a pension to provide the income they needed in retirement. That’s no longer the case. Today, you carry much of the responsibility for creating your own retirement income plan.

As Americans live longer, active lives, retirement is increasingly no longer an end stage but instead a transition point. That presents a problem, as it creates greater risk of outliving your retirement savings. An income mindset and a comprehensive retirement income strategy are essential to overcome this risk and live your ideal retirement lifestyle.

Whether plotting your own course or working with a qualified financial professional, you’ll need to develop a retirement income strategy that ensures your retirement portfolio lasts your lifetime and manages these seven key risks to retirement income:

1. Market Volatility

Market trends are one of the most important factors in ensuring assets last throughout retirement — perhaps second only to your withdrawal rate from retirement savings. You’ve likely spent decades saving for retirement, but once you stop contributing and start withdrawing, your nest egg becomes more susceptible to market risks. Chances are most retirees will have to live through at least one bear market. In fact, the average retiree will likely face three to five such bear markets in retirement. The average bear market lasts 14 months with an average loss of 33 percent. Assuming no withdrawals are taken from their retirement savings, on average, it will take an investor 25 months to recoup those losses. If you are retired and taking withdrawals from your retirement accounts, however, it could take you longer to recoup those losses — or those losses could become permanent.

2. Sequence of Returns

During the accumulation phase of retirement planning, the sequence of returns doesn’t much matter — it’s the average rate of return that is important. When withdrawing during retirement, however, the sequence of returns matters greatly. Beginning your retirement in a time of positive market performance increases the chances that retirement savings will last a lifetime. However, negative market returns in the early years of retirement will likely require you to liquidate more investments to provide the income you need — raising the likelihood of depleting retirement savings sooner. In the latter case, holding off on liquidating assets, if possible, can help extend your retirement resources.

3. Interest Rates

While interest rates have gradually risen over the past 12 months, they remain low enough to create additional pressure for the average retiree to generate the income they need to live comfortably in retirement. In the past, many could rely on an interest rate of 5 percent or more on investments in secure assets like U.S. Treasury notes. In today’s lower interest rate environment, however, retirees might need to withdraw more from their retirement savings to make up the shortfall caused by low interest rates or look to invest more aggressively in search of greater yields.

4. Inflation

Inflation risk is purchasing power risk — that is, the chance that investment income today will not be worth as much in the future. Inflation is typically measured by the Consumer Price Index (CPI) produced by the United States Department of Labor (DOL). Since 1983, the CPI has increased annually by 2.6 percent. For retirees, however, the DOL has another consumer price index, the CPI-E, which has increased by 2.8 percent on average each year since 1983. Why the difference? Rising healthcare costs, which run 70 percent higher for the elderly, have driven increased demand on retirees’ income and are most damaging in later years of retirement.

5. Withdrawal Rate

You’ll need to be mindful of how much you withdraw from your accounts each year, seeking a safe and sustainable withdrawal rate that runs little probability of depleting retirement savings over your lifetime. The right withdrawal rate is dependent on several factors including age, length of retirement, asset allocation, market conditions and interest rates. A 4 percent withdrawal rate was long viewed as safe and sustainable. In light of people living longer in retirement and a prolonged low interest rate environment, new research suggests a sustainable rate may be closer to 3 to 3.5 percent for most retirees.

6. Investor Behavior

Investor behavior has a profound impact on portfolio performance. Investors are often influenced by their emotions — from excitement and euphoria to fear or panic — which can disrupt a long-term investment strategy. We have an aversion to loss that can affect our willingness to stay in the market. Investors will often get in and out of the market at the wrong time — investing when stock prices are up and pulling out when they fall. Case in point, according to DALBAR, over the past 10 years, the S&P 500 gained an average of 8.5 percent while the average equity mutual fund investor earned only 4.9 percent. To benefit from any potential long-term market appreciation, you should consider remaining invested through difficult times.

7. Longevity

Longevity risk is the risk that you will outlive your money. When creating a strategy for transitioning savings to retirement income, the issue of longevity must be addressed. A 65-year-old married couple has nearly a 50 percent chance that one member will live to age 94 and a 25 percent chance to age 98. Of course, the challenge is how to generate income that will last 30 years or more.

Creating income security and ensuring a successful and happy retirement is no easy task. But there are plenty of resources available to help, from financial professionals who can help you develop your unique income strategy to checklist resources like those available from the Alliance for Lifetime Income.

You’ve been saving and preparing for retirement, perhaps for your entire working life. As you begin to transition into the longest vacation of your life, you should make sure that your retirement income plan is structured to withstand these seven common risks.

2018-10-05T14:51:00

(BPT) – Your financial health impacts your life, not only in the way you live today and in the future, but in the legacy you leave behind to those you love the most. Whether you’re paying student loans, buying spin classes, or caring for an aging loved one, the way you live today and in the future is shaped by your financial health.

As a recent national Guardian survey, “Millennials and Money: Understanding What Drives Financial Confidence,” shows, millennials want and need both digital and human experiences to be financially confident. While leveraging the wealth of information at your fingertips, smartphones may equate to smart planning, but the role of the advisor is also essential in developing — and sticking to — a financial plan that will help you achieve both your short- and long-term goals. In fact, one in three unadvised millennials report that they are likely to begin working with a professional advisor in the next 12 months.

When breaking down the data by region, the study found that those in the Midwest are less confident in their financial futures than others across the nation. Guardian’s study found that on a national level, those who partake in financial planning are more confident in achieving their financial goals. While online planning tools and other digital platforms can assist with financial planning, residents of the Midwest, including millennials, can benefit from face-to-face meetings with an advisor to build their financial confidence.

Whether you’ve been using a financial advisor for years, or you have never thought about meeting with one, working with an advisor can help make sense of all the options available to you and tailor them based on your individual objectives. Here are five financial tips from local experts to help you establish both protection and growth strategies that will help you create and meet your financial goals:

1. Live within your means. Many people across all income levels never sit down and actually create a budget, much less stick to one. Your financial advisor can help you do this by providing clarity into your ongoing expenses and income to give you a baseline of your budget and how much you can spend while still living within your means month after month.

2. Create a plan that positions you on offense and defense. Having a detailed financial plan that clearly states your goals can lead to increased confidence. So much so, when it comes to overall financial confidence, millennials across the U.S. say having a detailed financial plan is equally as important to them as getting a bonus at work. Your financial advisor can work with you to create a plan that clearly states your goals and how you’ll meet them, including offensive methods to proactively grow or invest your money, as well as defensive tools for protection, such as life insurance or disability income insurance.

3. Instill some liquidity in your financial strategy. Growing your income is only one part of the puzzle; you need to have the ability to utilize it as well. Be sure to have liquidity in your financial plan. It is important to plan so that you have efficient access to money in the event of an emergency or an opportunity.

4. Develop strong savings habits. It’s never too early or too late to start utilizing the value of saving. Start good savings habits with your very first paycheck by setting up automatic or direct deposits to your savings accounts, retirement accounts, etc. and make sure that the total is as close to 15 percent of your gross as possible. Thomas Wyatt of Lifetime Financial Growth in Columbus says this can be difficult for many people to contemplate, but your advisor can help you understand exactly how much this total should be and how you can set it aside, so it will be there should you ever need it.

5. Prioritize protection. The most financially confident Americans know that putting protection first in the form of income protection through individual disability insurance, and life insurance, builds a foundation of financial peace of mind today and tomorrow. Millennials know this to be true too, with 54 percent of millennials prioritizing protection over saving and investing (46 percent).

Start focusing on your financial future today

Across the Midwest, many people have already seen the benefits a financial advisor can provide, but if you have yet to work with one, an advisor can help you prioritize essential protection and growth strategies based on your individual needs. In addition to utilizing online tools to manage your personal finance, having a detailed financial plan can increase your overall confidence in achieving your goals. Find an advisor in your area and meet with them for a brief conversation and visit www.livingconfidently.com for more insights and tools to start today.

2018-10-08T12:01:02

(BPT) – Your financial health impacts your life, not only in the way you live today and in the future, but in the legacy you leave behind to those you love the most. Whether you’re paying student loans, buying spin classes, or caring for an aging loved one, the way you live today and in the future is shaped by your financial health.

As a recent national Guardian survey, “Millennials and Money: Understanding What Drives Financial Confidence,” shows, millennials want and need both digital and human experiences to be financially confident. While leveraging the wealth of information at your fingertips, smartphones may equate to smart planning, but the role of the advisor is also essential in developing — and sticking to — a financial plan that will help you achieve both your short- and long-term goals. In fact, one in three unadvised millennials report that they are likely to begin working with a professional advisor in the next 12 months.

When breaking the data down by region, the study finds residents of the Northwest are seeking financial security, as eight in 10 say they place strong emphasis on retiring with a sense of security. In fact, a higher than average proportion of Northwesterners deem overall financial peace of mind (74 percent) and having a solid long-term plan (55 percent) as top priorities compared to other U.S. regions.

That’s all good news, but while the region remains ahead of other areas in recognizing the importance of financial security, not everyone in the Northwest utilizes the support a financial advisor provides. While online planning tools and other digital platforms can assist with financial planning, millennials in the Northwest can benefit from face-to-face meetings with an advisor. Whether you’ve been using a financial advisor for years, or you have never thought about meeting with one, working with an advisor can help make sense of all the options available to you and tailor them based on your individual objectives. Here are five financial tips from local experts to help you establish both protection and growth strategies that will help you create and meet your financial goals:

1. Live within your means. Many people across all income levels never sit down and actually create a budget, much less stick to one. Your financial advisor can help you do this by providing clarity into your ongoing expenses and income to give you a baseline of your budget and how much you can spend while still living within your means month after month.

2. Create a plan that positions you on offense and defense. Having a detailed financial plan that clearly states your goals can lead to increased confidence. So much so, when it comes to overall financial confidence, millennials across the U.S. say having a detailed financial plan is equally as important to them as getting a bonus at work. Your financial advisor can work with you to create a plan that clearly states your goals and how you’ll meet them, including offensive methods to proactively grow or invest your money, as well as defensive tools for protection, such as life insurance or disability income insurance.

3. Instill some liquidity in your financial strategy. Growing your income is only one part of the puzzle; you need to have the ability to utilize it as well. “Create a separate savings account outside of your normal banking institutions that you don’t have readily accessible,” says Travis Scribner of WestPac Wealth Partners in Las Vegas. “With the rise of mobile banking it has become increasingly easy to move money from one account to another, by having it in a separate institution that you don’t have an app or debit card for it reduces the likelihood of impulse purchases.”

4. Develop strong savings habits. It’s never too early or too late to start utilizing the value of saving. Start good savings habits with your very first paycheck by setting up automatic or direct deposits to your savings accounts, retirement accounts, etc. and make sure that the total is as close to 15 percent of your gross as possible. If you have questions about ways in which you can strengthen your savings, your advisor can help.

5. Prioritize protection. The most financially confident Americans know that putting protection first in the form of income protection through individual disability insurance, and life insurance, builds a foundation of financial peace of mind today and tomorrow. Millennials know this to be true too, with 54 percent of millennials prioritizing protection over saving and investing (46 percent).

Start focusing on your financial future today

Across the Northwest, many people have already seen the benefits a financial advisor can provide, but if you have yet to work with one, an advisor can help you prioritize essential protection and growth strategies based on your individual needs. In addition to utilizing online tools to manage your personal finance, having a detailed financial plan can increase your overall confidence in achieving your goals. Find an advisor in your area and meet with them for a brief conversation and visit www.livingconfidently.com for more insights and tools to start today.

2018-10-07T12:01:00

(BPT) – Your financial health impacts your life, not only in the way you live today and in the future, but in the legacy you leave behind to those you love the most. Whether you’re paying off student loans, buying spin classes or caring for an aging loved one, the way you live today and in the future is shaped by your financial health.

As a recent national Guardian survey, “Millennials and Money: Understanding What Drives Financial Confidence,” shows, millennials want and need both digital and human experiences to be financially confident. While leveraging the wealth of information at your fingertips, smartphones may equate to smart planning, but the role of the advisor is also essential in developing — and sticking to — a financial plan that will help you achieve both your short- and long-term goals. In fact, one in three unadvised millennials report that they are likely to begin working with a professional advisor in the next 12 months.

When breaking the data down by region, the study finds 61 percent of those in the Southeast are more likely to cite having guaranteed income in retirement as a major financial priority, compared to 55 percent nationally. In addition, the study reveals that 70 percent of residents in the Southeast said knowing their family is protected financially is a top priority.

That’s all good news, but not everyone in the Southeast utilizes the support a financial advisor provides. While online planning tools and other digital platforms can assist with financial planning, residents of the Southeast can benefit from in-person professional guidance, especially when it comes to family and protection. Whether you’ve been using a financial advisor for years, or you have never thought about meeting with one, working with an advisor can help make sense of all the options available to you and tailor them based on your individual objectives. Here are five financial tips from local experts to help you establish both protection and growth strategies that will help you create and meet your financial goals:

1. Live within your means. Many people never sit down and actually create a budget, much less stick to one. Your financial advisor can help you do this by providing clarity into your ongoing expenses and income to give you a baseline of your budget and how much you can spend while still living within your means month after month.

2. Create a plan that positions you on offense and defense. Having a detailed financial plan that clearly states your goals can lead to increased confidence. So much so, when it comes to overall financial confidence, millennials across the U.S. say having a detailed financial plan is equally as important to them as getting a bonus at work. Your financial advisor can work with you to create a plan that clearly states your goals and how you’ll meet them, including offensive methods to proactively grow or invest your money, as well as defensive tools for protection, such as life insurance or disability income insurance.

3. Instill some liquidity in your financial strategy. Growing your income is only one part of the puzzle; you need to have the ability to utilize it as well. It is important to plan so that you have efficient access to money in the event of an emergency or an opportunity.

4. Develop strong savings habits. Financial advisor James Matthews of Consolidated Planning in Charlotte says it’s never too early or too late to start utilizing the value of saving. Start good savings habits with your very first paycheck by setting up automatic or direct deposits to your savings accounts, retirement accounts, etc. and make sure that the total is as close to 15 percent of your gross as possible. If you have questions about ways in which you can strengthen your savings, your advisor can help.

5. Prioritize protection. The most financially confident Americans know that putting protection first in the form of income protection through individual disability insurance, and life insurance, builds a foundation of financial peace of mind today and tomorrow. Millennials know this to be true too, with 54 percent of millennials prioritizing protection over saving and investing (46 percent).

Start focusing on your financial future today

Across the Southeast, many people have already seen the benefits a financial advisor can provide, but if you have yet to work with one, an advisor can help you prioritize essential protection and growth strategies based on your individual needs. In addition to utilizing online tools to manage your personal finance, having a detailed financial plan can increase your overall confidence in achieving your goals. Find an advisor in your area and meet with them for a brief conversation and visit www.livingconfidently.com for more insights and tools to start today.

2018-10-06T12:01:00

(BPT) – Your financial health impacts your life, not only in the way you live today and in the future, but in the legacy you leave behind to those you love the most. Whether you’re paying student loans, buying spin classes, or caring for an aging loved one, the way you live today and in the future is shaped by your financial health.

As a recent national Guardian survey, “Millennials and Money: Understanding What Drives Financial Confidence,” shows, millennials want and need both digital and human experiences to be financially confident. While leveraging the wealth of information at your fingertips, smartphones may equate to smart planning, but the role of the advisor is also essential in developing — and sticking to — a financial plan that will help you achieve both your short- and long-term goals. In fact, one in three unadvised millennials report that they are likely to begin working with a professional advisor in the next 12 months. The good news for millennials in the West is that they are in good company: Residents across all generations in the West report they are on track to meet their financial goals more than others across the nation.

When breaking the data down by region, the study finds 81 percent of those in the West do financial planning and that a higher proportion of West Coasters have a financial plan created with an advisor than residents in other areas of the U.S.

That’s all good news, but while the region remains ahead of other areas in recognizing the importance of financial advisor support, not everyone in the West utilizes the support a financial advisor provides. While online planning tools and other digital platforms can assist with financial planning, residents of the West, including millennials, say they are open to attending an in-person financial seminar. Whether you’ve been using a financial advisor for years, or you have never thought about meeting with one, working with an advisor can help make sense of all the options available to you and tailor them based on your individual objectives. Here are five financial tips from local experts to help you establish both protection and growth strategies that will help you create and meet your financial goals:

1. Live within your means. Many people across all income levels never sit down and actually create a budget, much less stick to one. Your financial advisor can help you do this by providing clarity into your ongoing expenses and income to give you a baseline of your budget and how much you can spend while still living within your means month after month.

2. Create a plan that positions you on offense and defense. Misty Weltzien of Pacific Advisors in Los Angeles knows that having a detailed financial plan that clearly states your goals can lead to increased confidence. “So much so, when it comes to overall financial confidence, millennials across the U.S. say having a detailed financial plan is equally as important to them as getting a bonus at work,” Weltzien says. Your financial advisor can work with you to create a plan that clearly states your goals and how you’ll meet them, including offensive methods to proactively grow or invest your money, as well as defensive tools for protection, such as life insurance or disability income insurance.

3. Instill some liquidity in your financial strategy. Growing your income is only one part of the puzzle; you need to have the ability to utilize it as well. “Create a separate savings account outside of your normal banking institutions that you don’t have readily accessible,” says Travis Scribner of WestPac Wealth Partners in Las Vegas. “With the rise of mobile banking it has become increasingly easy to move money from one account to another, by having it in a separate institution that you don’t have an app or debit card for it reduces the likelihood of impulse purchases.”

4. Develop strong savings habits. It’s never too early or too late to start utilizing the value of saving. Start good savings habits with your very first paycheck by setting up automatic or direct deposits to your savings accounts, retirement accounts, etc. and make sure that the total is as close to 15 percent of your gross as possible. If you have questions about ways in which you can strengthen your savings, your advisor can help.

5. Prioritize protection. The most financially confident Americans know that putting protection first in the form of income protection through individual disability insurance, and life insurance, builds a foundation of financial peace of mind today and tomorrow. Millennials know this to be true too, with 54 percent of millennials prioritizing protection over saving and investing (46 percent).

Start focusing on your financial future today

Across the West, many people have already seen the benefits a financial advisor can provide, but if you have yet to work with one, an advisor can help you prioritize essential protection and growth strategies based on your individual needs. In addition to utilizing online tools to manage your personal finance, having a detailed financial plan can increase your overall confidence in achieving your goals. Find an advisor in your area and meet with them for a brief conversation and visit www.livingconfidently.com for more insights and tools to start today.

2018-10-09T12:01:01

(BPT) – Your financial health impacts your life, not only in the way you live today and in the future, but in the legacy you leave behind to those you love the most. Whether you’re paying student loans, buying spin classes, or caring for an aging loved one, the way you live today and in the future is shaped by your financial health.

As a recent national Guardian survey, “Millennials and Money: Understanding What Drives Financial Confidence,” shows, millennials want and need both digital and human experiences to be financially confident. While leveraging the wealth of information at your fingertips, smartphones may equate to smart planning, but the role of the advisor is also essential in developing — and sticking to — a financial plan that will help you achieve both your short and long-term goals. In fact, one in three unadvised millennials report that they are likely to begin working with a professional advisor in the next 12 months. The good news for millennials in the Northeast is that they are in good company: Residents across all generations in the Northeast report they are more financially secure than residents in other U.S. regions.

When breaking the data down by region, the same study finds 69 percent of those in the Northeast do financial planning and 33 percent cite working with an advisor they trust as a major financial priority. In addition, the study reveals that residents in the Northeast are more likely to include key components such as retirement income and clearly stated financial objectives in their financial plans.

That’s all good news, but while the region remains ahead of other areas in recognizing the importance of financial advisor support, not everyone in the Northeast utilizes the support a financial advisor provides. While online planning tools and other digital platforms can assist with financial planning, residents of the Northeast, including millennials, say they prefer learning about financial strategies via face-to-face meetings with an advisor, moreso than others across the nation. Whether you’ve been using a financial advisor for years, or you have never thought about meeting with one, working with an advisor can help make sense of all the options available to you and tailor them based on your individual objectives. Here are five financial tips from local experts to help you establish both protection and growth strategies that will help you create and meet your financial goals:

1. Live within your means. Many people across all income levels never sit down and actually create a budget, much less stick to one. Your financial advisor can help you do this by providing clarity into your ongoing expenses and income to give you a baseline of your budget and how much you can spend while still living within your means month after month.

2. Create a plan that positions you on offense and defense. Having a detailed financial plan that clearly states your goals can lead to increased confidence. So much so, when it comes to overall financial confidence, millennials across the U.S. say having a detailed financial plan is equally as important to them as getting a bonus at work. Your financial advisor can work with you to create a plan that clearly states your goals and how you’ll meet them, including offensive methods to proactively grow or invest your money, as well as defensive tools for protection, such as life insurance or disability income insurance.

3. Instill some liquidity in your financial strategy. Growing your wealth is only one part of the puzzle; you need to have the ability to utilize it as well. “Be sure to have liquidity in your financial plan,” explains New Jersey-based advisor Joseph Fitzgerald of Northeast Planning Corporation. “It is important to plan so that you have efficient access to money in the event of an emergency or an opportunity.”

4. Develop strong savings habits. It’s never too early or too late to start utilizing the value of saving, according to Boston area advisor Brian McGrath of The Bulfinch Group. “Start good savings habits with your very first paycheck,” he says. “Do this by setting up automatic or direct deposits to your savings accounts, retirement accounts, etc. and make sure that the total is as close to 15 percent of your gross as possible.” If you have questions about ways in which you can strengthen your savings, your advisor can help.

5. Prioritize protection. The most financially confident Americans know that putting protection first in the form of income protection through individual disability insurance, and life insurance, builds a foundation of financial peace of mind today and tomorrow. Millennials know this to be true too, with 54 percent of millennials prioritizing protection over saving and investing (46 percent).

Start focusing on your financial future today

Across the Northeast, many people have already seen the benefits a financial advisor can provide, but if you have yet to work with one, an advisor can help you prioritize essential protection and growth strategies based on your individual needs. In addition to utilizing online tools to manage your personal finance, having a detailed financial plan can increase your overall confidence in achieving your goals. Find an advisor in your area and meet with them for a brief conversation and visit www.livingconfidently.com for more insights and tools to start today.

2018-09-05T07:01:00

2018-10-17T07:25:02

(BPT) – Retailers are responding to increased digital competition by bringing a broad array of online conveniences to their stores. One leading membership wholesale club is showcasing its digital transformation by opening its doors to all.

Services like digital coupons, same-day delivery and the ability to place an order online and pick it up in a store in a few hours are changing the shopping experience. The result is a huge win for consumers as more and more stores combine the convenience of online shopping with the excitement and fun of an in-store experience.

BJ’s Wholesale Club, a warehouse club on the East Coast, is known for delivering great prices and a “treasure hunt” experience. BJ’s is a membership club — which means consumers have to pay to shop there — that has made a significant investment in what it calls omnichannel capabilities over the past two years.

But the company is eager to showcase its new services and is opening its doors to all shoppers — with no fee — through Nov. 4, 2018. During the event, all shoppers are invited to visit their local club to shop BJ’s unbeatable values and enhanced assortment and try out its new digital conveniences.

BJ’s has recently expanded its offering of convenient online shopping options for members including Shop BJs.com – Pick Up in Club, Add-to-Card digital coupons, same-day delivery and the BJ’s mobile app.

“At BJ’s, we’re committed to providing unbeatable value and outstanding service,” said Lee Delaney, executive vice president, chief commercial officer. “We’ve transformed our clubs with convenient new services and great products, giving members more ways to save time and money. We’re proud to showcase the new BJ’s Wholesale Club, and we welcome all shoppers to experience what a BJ’s membership has to offer.”

All shoppers can visit their local BJ’s club and BJ’s Gas^® beginning Monday, Oct. 15, 2018, through Sunday, Nov. 4, 2018 to take advantage of the incredible savings and added convenience of a BJ’s membership. Shoppers not currently enrolled in membership can sign up for a free three-month trial membership or join for just $25 for 12 months with BJ’s Easy Renewal^®.

The event is a great time to check out BJ’s prices and learn about the future of omnichannel shopping. Those interested in the event can find their local BJ’s Wholesale Club by going to www.bjs.com/locations.

2018-11-16T07:01:00

(BPT) – Small Business Saturday is just around the corner, and for shoppers across the country, it means supporting local businesses and taking a day to let them know how much they are appreciated. It’s a day of shopping, sales and an overall emphasis on community as we reflect upon the importance of our local entrepreneurs, who continue to be a driving force in today’s economy. While communities prepare to shop small in a big way, it’s also an opportunity for small businesses to flex their muscles and grow their business. To do so, small businesses need to be prepared for the busyness Nov. 24 will bring this year. Here are some tips to help small businesses achieve the greatest possible success this Small Business Saturday:

Create a support network: It’s all about who you know. Preparing for Small Business Saturday doesn’t have to just be in the weeks or month ahead; instead, get ready for the big day by cultivating relationships year-round. Tap into social or local networking groups for advice from seasoned entrepreneurs and small business owners for Small Business Saturday and the holiday shopping season ahead. Grab a coffee with other entrepreneurs to run through your plans for the big day with them or brainstorm potential marketing efforts to enhance the day’s success. You may even want to tag team with a second business in your neighborhood to find creative ways to collaborate on sales and special offers to maximize your exposure and help promote fellow small business owners.

Grab the right gear: A day in the life of an entrepreneur is often extremely on-the-go. As a result, a laptop is a critical lifeline for small business owners. This year, make sure your tech is working as efficiently as you are by picking up a super lightweight (about 2 pounds) laptop computer like the LG gram, which was top-ranked by a leading consumer publication. Pushing the boundaries of portable computing with the 8th generation, Intel Core processors and stunning picture quality, it’s the perfect notebook for busy entrepreneurs. With a high-capacity 72Wh battery that lasts up to 16-1/2 hours, business owners can leave the charger behind knowing they’ll be connected all day long. They come with 13-, 14- and 15-inch screens, and for small businesses seeking the Windows 10 Pro operating system, there’s also a commercial-grade, 15-inch LG gram notebook that has extra connectivity, too.

Host an event: Knowing when and where to reach your audience is critical. Avoid an oversaturated market by honing in on your niche through an event. Utilize Small Business Saturday to get to know your potential consumers on a personal level through focusing on building relationships and increasing social engagement. These relationships will help inform what information is of most interest to them so that you may best capture their attention. Don’t be afraid to use in-store promotions or hit the pavement to raise awareness ahead of the event.

Create specific goals: Small Business Saturday is a great opportunity to get very specific with your goals. Start breaking down long-term goals into conquerable achievements surrounding Small Business Saturday. Craft a timeline that focuses on important milestones in your business that seem challenging yet obtainable. For example, set a benchmark sales goal for the day that is achievable or strive to increase the amount of traffic to your small business. By creating specific goals, you and your employees can stay on track and feel accomplished at the end of the day.

Be social: Bolster your presence on social media by creating compelling content and building up your following. Use multiple social platforms such as Instagram, Twitter, Facebook and Snapchat to connect with different audiences within the local community, share news and communicate with potential customers. Take advantage of free online social media marketing courses and analytics programs that will help you increase your brand credibility, awareness and appeal. You can also drive traffic by offering giveaways or deals that enhance social engagement and expand your reach. Also, don’t forget to use unique hashtags, especially during Small Business Saturday, to track success and to tag your business location for more visibility and to see how clients and potential clients are reacting to your product(s).

 

2018-11-15T07:01:00

(BPT) – If you really want to go deep and learn how the American tradition of innovation and entrepreneurship came about, there’s no better place to begin than the Commonwealth of Virginia.

Some think of it as the original U.S. start-up. That’s because if it weren’t for a king’s wish to profit from tobacco crops in the New World, it’s very possible the U.S. and its enterprise system wouldn’t exist as we know it today.

Here are some key examples of how entrepreneurship took root in present-day Virginia, and how its influence is still felt today.

Virginia colony: America’s original startup

The Virginia Company of London had quite the list of ambitions to expand England’s global influence: find wealth, convert native people to Christianity, create jobs for the English unemployed, find a trade route to the Orient, tap resources in the New World. Then, in 1619, the Virginia Company passed laws allowing the Jamestown colonists to experiment with wine making, cloth and silk production and other industries. This kicked off what eventually become America’s free enterprise system.

The cradle of American wine is … Virginia

It turns out that Virginia, not California, is the birthplace of American wine. Back in 1619, the colony’s governor signed a law requiring colonists to plant vineyards. Sadly, their first bottles of wine came out bitter and it traveled badly. It wasn’t until Thomas Jefferson’s presidential term that the Virginia wine began to prosper. Since then, the industry faced disruptions like the Civil War and Prohibition. Today, Virginia is the fifth largest producer of wine in the U.S. with more than 360 wineries and six million bottles sold annually.

Chapped lip relief comes from Virginia

That’s right, ChapStick, the tube of lip balm that lives in coat pockets across America, started in Lynchburg, Virginia. The original concoction was created by a physician and it resembled a wickless candle that was wrapped in tin foil. When an entrepreneur bought the rights in 1912, his wife found an easier way to sell the product by cutting it into sticks. Sales took off and the couple soon opened the Morton Manufacturing Corp. From there, it evolved into the famous household product we know today.

You’ve got mail!

Almost overnight, the internet transformed how we communicate and shop forever. Back in the mid-1990s, the salad days of mainstream internet usage, there was no Google, no high-speed internet and no Wi-Fi. There was dial up, slow-loading pages and a little online service provider called America Online. Its first headquarters was located in Dulles, Virginia. In keeping with its Commonwealth roots, this form of entrepreneurial growth brought us a new way of accessing the world.

Tom Tom Founders Festival

Need a dose of inspiration and optimism? You’ll definitively want to put the Tom Tom Founders Festival on your places to visit. This festival is gaining attention as the SXSW of the east coast as it celebrates entrepreneurs, leaders and creators that are actively shaping cities and communities across the U.S. Don’t miss the innovative solutions of tomorrow at the American Evolution Innovators Cup, where university teams will pitch their visions and ideas for a chance to win.

Virginia’s 2019 Commemoration, American Evolution, inspires a modern personal connection to the formative 1619 Virginia events that indelibly influenced and continue to shape today’s America. We have partnered with notable Virginia institutions and national partners to launch a series of education programs, signature events and legacy projects of national and international significance that commemorate the 400th anniversary of key historical events that occurred in Virginia in 1619 and continue to influence America today. These 1619 events include the first representative legislative assembly in the New World; the arrival of the first recorded Africans to English North America; the recruitment of English women in significant numbers; the first official English Thanksgiving in North America; and the entrepreneurial and innovative spirit of the Virginia colony.

For a complete list of American Evolution programs and events that mark the pivotal year of 1619, visit AmericanEvolution2019.com.