Author Archives: UVU Business Resource Center

Superman is going to love this – New Phone Booths!

As a business owner, maybe you feel like you need to be Superman for your company, but wait! Before you can solve the world’s problems, you’ll need a phone booth.

The incubator companies here at the Business Resource Center will have just that.

In a cubicle space, it can be difficult to have a private conversation, if not impossible. You have an important business transaction that may or may not materialize and you don’t want the secret to get out, yet.

The CEOs of our incubators often opt for talking on their cell phones outside the building for a little privacy. But this comes with its inconveniences – like the wind blowing past making it hard to hear or now when the weather is colder, being a little too chilly outside.

When I went to fill up my water bottle, I crossed a hallway where a gentleman, possibly a business owner, was trying to have a private conversation. I only caught a few words, so I don’t really know what it was about, but I’m sure it just wasn’t a cool situation for him, talking out in the open.

So, enter the phone booth. Now, this isn’t like the one you seen in the movies, where you pick up the phone, insert a quarter, get a dial tone and punching the number.

These are fancy new ones designed to accommodate those with cell phones and even wi-fi capabilities for laptops. There’s a small counter and a place to sit if the conversation goes a little longer. And they’re portable.

The phone booths offer privacy when our CEOs have important conversations. Four phone booths are on their way to the Business Resource Center. And when they arrive, it will be a welcome addition and help them feel like superheroes. Superman would be proud.

 

How to Maximize Spending in Your Start-up

When you start out in a business venture, it is important to keep a few ideas in mind. These will help you begin in a powerful way and maintain in an organized fashion.

You already have a great product or service, and it’s time to figure out how you will build a business around it. Building a business is like building any kind of building.

You need a sturdy foundation and a sound structure. All the decorative pieces will be added soon enough, but without the proper framework, your business will be, well, decorative – appearance without substance. In time, it will eventually collapse on itself.

After you come up with your product or service, your next aim is to make a profit. You’ll need excellent customer service, too, but in this article we’ll focus on becoming profitable.

First, create a budget and stick to it. Don’t add frivolous expenses or you are just digging a hole for yourself. You can’t pretend to be a big company right away with all the bells and whistles – the nicest equipment, the finest in office space, or the best apparel.

It’s much like the newlywed couple who wants to have the nice home and all the luxuries their parents now have. What they don’t realize, to the degree they need to, is that their parents worked hard (which may have taken many years) to have the income to afford what they now have, and that their parents had to start out small with the basics when they first got married.

If you don’t stick to a budget, you could be in for a real surprise – running out of money and not being able to afford your foundational expenses.

Next, think about solutions that work for the here and now. You may want to forego individual offices for cubicles until you can afford a bigger space. You may want to forego travel expenses for a far away conference and instead cozy up to your computer to attend a webinar with comparable content.

Third, according to Jennifer Post’s article for Business News Daily, go inexpensive but not cheap. There’s a difference. Cut corners where you can, like buying inexpensive copy paper for office memos, but don’t try to save money on “free” software. “They’re free for a reason” Post writes, quoting Raad Mobrem, CEO and co-founder of Lettuce Apps. Buy good-quality office machines, for example, where you won’t have to spend extra money on repairing them or replacing them when they completely break down earlier than expected.

Lastly, always evaluate and re-evaluate your budget and expenses. Keeping detailed track of your expenses will help you see what is going to waste and what have been good investments. Determine to set a percentage of your profits aside in savings for long-range goals for updating your business’ assets.

UVU business resource center exterior

Official UVU BRC Website is Getting a Facelift

The official UVU BRC website is getting a facelift. If you haven’t seen it, you’ll be pleasantly surprised. Not only has the visual been updated, but the content has been updated, too. Links have been added and fixed so the navigation is smoother and more intuitive.

Be sure to check out the latest Grow Your Business classes, now happening once a month. They are geared to help you validate your business idea or product and understand what really goes into helping an idea or product to be successful.

You can visit our official website at www.uvu.edu/brc or clicking on the HOME link at the top of the page.