Small Business Week 2018 – Who Said They’re Small?

They’re called small businesses. You’ve seen them around. The meat market, candy store, restaurant and pizzeria, real estate agency, bank, clinic, convenience store, supermarket, department store, printer, plumber, carpenter, builder, electrician, manufacturer and other outlets of commerce. The proprietors open their doors early and close them in the early evening.

By some official estimates, there are 28-29 million of them across the United States. And while technically regarded as “small” by the Small Business Administration (SBA), which places a cap at 500 employees, there’s nothing small about them – individually and collectively. Their impact is huge.

Small businesses are the bedrock of the American economy, culture and mentality. They are the most important cogs in country’s commercial mechanism. Statistics clearly show that small businesses play a vital role in the US economy, producing 46% of the private nonfarm gross domestic product (GDP).

According to the SBA, small businesses make up 99% of US employer firms, 63% of net new private-sector jobs, 48% of private-sector employment, 42% of private-sector payroll, 46% of private-sector output, 37% of high-tech employment, 98% of firms exporting goods and 33 % of exporting value, they accounted for 63% of the net new jobs created between 1993 and mid-2013.

Not only are small businesses among the most creative and entrepreneurial forces present in our economy, they also lead in new technology and patent creation in the country. A report, titled “An Analysis of Small Business Patents by Industry and Firm Size” funded by the SBA, documented that small businesses produced 16 times more patents per employee than large firms did.

Small businesses are truly the backbones of the American economy and way of life. When they fail or suffer, the economy follows suit immediately. When they do well, the world could also do well.

With National Small Business Week beginning in a few days, Main Street America is busy pondering what to do to attract attention to small businesses from April 29 to May 5. However, the week’s events and promotions should not merely be intended to drive business by building revenue. They should drive business by raising awareness about small businesses’ vibrant roles in local, national and even global matters. By focusing on the bigger issues during National Small Business Week instead of merchandise, an entrepreneur becomes a thought leader on a local level while small businesses collectively will be able to make a difference on the global stage.

For more than 55 years, thanks to the efforts of the SBA, small businesses have taken advantage of the opportunity to highlight the extraordinary impact entrepreneurs and business owners have on their local communities and the national economy.

Main Street small businesses can start mobilizing themselves for the week’s festivities by turning to the wide range of issues incorporated in the United Nations 17 Sustainable Development Goals. The points deal with a variety of topics that can benefit communities as well as humanity. By calling attention to them, entrepreneurs will also be calling attention to their businesses and their thought leadership. Here’s what you can do:

Get the word out. Pure marketing and outreach. This is where your initiative will rise to the surface. Prepare a traditional and social media campaign to inform the news media, your neighbors and community, local officials, vendors, competitors and other stakeholders about your plans and encourage them to support you. If it pertains to one or more of the SDGs, explain why. Use press releases, tweets, Facebook posts and emails to spread the word. The more interesting your project, the more people you will attract. Once you’ve notified your constituents in the old-fashioned manner, then post the information on your active social media platforms to increase your reach.

Partner with small businesses and the community – Goal 17. Strengthen your impact and reach a larger audience by joining forces with other small businesses to spread the word about your role in all of the goals or one of them. Summon all of your partners to a meeting, invite the press and local officials. This effort will quickly snowball into a major campaign that shows small businesses are not only in it to make a buck but also to improve the community.

Share your story. Again, promotion. Each small business has a story about how and why it began. This story will focus on why you feel your Small Business Week SDG effort is worth attention. Don’t keep your and your partners’ story a secret. Use your unique point of view about the SDGs so it will stand out from others and you’ll get closer to your customers. Furthermore, millennials are known for their interest in sustainability. Don’t forget to tell them and they won’t forget to visit you throughout the year.

Say thank you to the people who keep your business going and support your view of the SDGs. Maybe you’ve got a top-notch staff or die-hard customer base. Maybe you have a mentor you can always call when you hit a lull. Maybe you have SDG doubters or ardent supporters. Take a moment to step away from the day-to-day frenzy and show your appreciation. A face-to-face thank you is always great. But you can also write thank you cards, send an email to your supporters, or post a thank you on social media. If you’re comfortable in front of a camera, think about how you can get your message across in a short thank you video while promoting your and the business community’s work on behalf of sustainability.

Help education – Goal 4. Organize representatives from nonprofits, schools, boy and girl scouts, libraries and officials, and create a year round program to help education. It could be one-on-one mentoring or something that will benefit the school for a semester or year.

Health – Goal 3. Small businesses, clinics, doctors, officials and pharmacies can collaborate on a project to help women or senior citizens with health issues. They can ensure that children have access to immunizations. This is not beyond the reach of Small Business Week because small businesses are driving it.

Environment – Goals 14 & 15. Small businesses such a field and stream and sporting goods retailers along with boy and girl scouts can do a lot together to help clean up the surrounding fields and streams.

Gender equality and no bullying – Goals 5 & 16. Sadly, a day doesn’t go by without a story in the news about discrimination against a woman, person of color or an immigrant. News media are also filled with stories about adolescent bullying. All small businesses along with houses of worship, schools and civic organizations can launch a community-wide campaign during Small Business Week to eradicate these social evils.

If that’s not enough, check out the remaining goals. With some creativity, you can tap into them and contribute to improving life on this planet as you celebrate Small Business Week. One small business is a beginning. Many is a small business campaign for good. You may not fill your coffers with more money during those seven days but you will certainly reap the benefit of your sustainable farsightedness throughout the year.

Join the conversation in cyberspace about your efforts to commemorate Small Business Week with a nod to the SDGs. If you have examples of how you’ve done it, let me know. If you need help, reach out to me.

Scroll through my blog to read about more ways your small business and NGO can boost their outreach.

I’d also like to invite you to visit my Thought Leadership website:

http://thoughtleadership.yolasite.com/              

If you’re looking for advice on recruiting, company handbooks and other human resources topics, I’d like to suggest to you this interesting website:

http://hrtiebreaker.yolasite.com/

So You Want to Launch a Nonprofit (NGO)

You may be fantasizing about forming a celebrated nonprofit organization – also called a non-governmental organization – that will improve the fate of mankind for generations to come. While the intention and result are laudable, the path is not simple.

A nonprofit or non-governmental organization (NGO) – synonyms for civil society – is unlike a business organization though there are logistical similarities. While the goal of a large or small business is to make money, the goal of an NGO is to passionately work on behalf of a global or local cause. Any money the organization makes or fundraises, whether from donations, membership dues, grants, or product sales, goes back into the coffers to further the cause, rather than to the founder. However, that does not mean that the nonprofit can’t have a paid executive officer and staff.

The IRS identifies 27 types of nonprofits which you should review with your attorney and accountant before setting out on your global charitable excursion.

In general, most nonprofit organizations have tax-exempt status from both federal and state governments. However, in order to get this status, you will need to incorporate as a nonprofit organization at the outset. You will also need to file regular documentation and taxes regardless if you have money to keep your nonprofit in compliance.

Unlike a business, a nonprofit organization doesn’t have an owner but is governed by a board of directors. The board is responsible for making sure the nonprofit acts in accordance with its mission, uses its money wisely, and follows laws and regulations regarding nonprofits. Sometimes, board members also run the day-to-day operations.

You should also ask yourself is your nonprofit really necessary? The easy answer is yes, of course it is. Education, health, ecology, the 17 Sustainable Development Goals, human rights and animal rights are the low hanging fruit of NGO concepts. Don’t be concerned if there is already another organization that supports the same cause. It will not detract from your ability to promote your cause because the more organizations that share similar agendas, the more interest you generate.

Having been a staff member of the United Nations Department of Public Information / Non-Governmental Organizations section, I saw many civil society organizations espousing similar causes to the benefit of the mission and all NGOs. However, the ultimate goal of a nonprofit is to support a cause, not to compete with others.

Starting a nonprofit organization and keeping it going requires a lot of energy and enthusiasm. You’ll need to maintain a passion for your mission, and be able to inspire that same passion in others, including board members, employees, volunteers, donors, politicians, media, global activists, academia and other stakeholders.

On a practical level, your nonprofit must exist to ensure the viability of the cause or goal. As a result, regular fundraising has to be a major function of your board and staff. Promotion, outreach and networking must also be handled by the staff in order to promote your work and accomplishments.

I heard a sound piece of advice for nonprofit hopefuls and established NGOs at a New York metro Better Business Bureau workshop for small businesses and non-profits. Claire Rosenzweig, president, had observed matter of factly in her remarks: “We’re all businesses after all.” Indeed. Regardless if you’re a small business or NGO, you still are a business.

Beyond your complimentary work, you are a business and should behave as such in order to safeguard your cause. Realistically, without money, you can’t exist. In addition to seeking funds, you should develop a comprehensive outreach plan and a marketing concept taking advantage of traditional forms and Internet platforms in order to succeed and promote your NGO and mission.

Finally, after a few months of activity, I strongly urge you to consider becoming part of the United Nations network of civil society organizations and all of you with 501c3 status are entitled to apply.

Beyond the lawyers and accountants’ advice on the administrative and legal regulations of running your nonprofit, your best source of knowledge and experience about the world of NGOs is the United Nations, where civil society is recognized as the third leg of the UN stool together with the member-state delegates and staff.

Once your organization has been associated with the UN Department of Public Information / Non-Governmental Organizations section, the head of your NGO and four other representatives will be given grounds passes to enter the UN headquarters in New York City. You will be invited to attend weekly briefings on a wide range of pressing global and local issues and hear what other NGOs are talking about.

You and your team will be able to share best practices with other representatives, meet with UN and global leaders on the causes that you hold dear, build coalitions and partnerships, and begin to improve the fate of mankind as you had originally intended to do.

In addition to advocating on behalf of your global or local cause, aligning your NGO with the UN network is the most important step on the road to fulfill your mission.

And setting out on this journey won’t cost you a dime. Applying for association with UN DPI/NGO is free.

Spread the word.

Join the conversation in cyberspace about launching an NGO and associating with the UN DPI/NGO. If you have examples of how you’ve done it, let me know. If you need help, reach out to me.

Scroll through my blog to read about more ways your NGO and small business can boost their outreach.

I’d also like to invite you to visit my Thought Leadership website:

http://thoughtleadership.yolasite.com/              

If you’re looking for advice on recruiting, company handbooks and other human resources topics, I’d like to suggest to you this interesting website:

http://hrtiebreaker.yolasite.com/

Your Small Business can also be Sustainable

All businesses – large and small – should take steps to become sustainable.

By becoming sustainable, large companies will impact the quality of life on a global scale, while small businesses, even neighborhood ones, will have a similar impact on the equally important local level.

These are the 17 Sustainable Development Goals (SDGs) that were adopted by the 195 UN member-states to transform our world.

GOAL 1: No Poverty

GOAL 2: Zero Hunger

GOAL 3: Good Health and Well-being

GOAL 4: Quality Education

GOAL 5: Gender Equality

GOAL 6: Clean Water and Sanitation

GOAL 7: Affordable and Clean Energy

GOAL 8: Decent Work and Economic Growth

GOAL 9: Industry, Innovation and Infrastructure

GOAL 10: Reduced Inequality

GOAL 11: Sustainable Cities and Communities

GOAL 12: Responsible Consumption and Production

GOAL 13: Climate Action

GOAL 14: Life below Water

GOAL 15: Life on Land

GOAL 16: Peace and Justice Strong Institutions

GOAL 17: Partnerships to achieve the Goal

As you can see, being sustainable is not merely being environmentally friendly and protecting the ecology. There are 17 principles and picking a favorite one is all your small business needs to do to embark on the road to sustainability.

Taking a global view, Barron’s recently published its list of 100 sustainable companies. No. 9 on the list is Clorox, yes, the bleach manufacturer. Hard to believe?

According to the business publication, Benno Dorer, CEO, travels to his office via public transit, buys sustainable products, including his company’s Brita water filters, separates his trash diligently, and teaches his kids to do the same.

Barron’s noted that for a company best known for a toxic product, Clorox has become one of America’s greenest companies, publishing goals on greenhouse gas emissions and energy use, phasing out controversial substances, and adding lines of natural products like Burt’s Bees.

“As a CEO, I don’t think I can be credible without walking the walk,” Dorer says. “At the end of the day, the company’s commitment to sustainability starts with the CEO.”

What is important about Dorer’s observation is that he, as the CEO, has set the tone for the company’s sustainable evolution. He created a sustainable corporate culture that trickles down throughout the company structure, to its branches and offices, and quite conceivably to local communities. Creating such a culture or image by top management becomes the dynamic thought leadership that triggers others to follow suit.

There is also a noteworthy payback. Sustainability is mission-critical to Clorox and the investing world is increasingly agreeing with Dorer’s public-spirited views.

More US investors are signing the United Nations guidelines or joining the UN Global Compact that incorporate Environmental, Social and Governance (ESG) criteria. Paul Smith, chief of the CFA Institute, was quoted as saying by Barron’s: “Consensus is emerging in many countries that it is asset managers’ fiduciary duty to incorporate ESG factors into their financial analysis, especially when material to a company’s long-term prospects.”

Another well-known company, McDonald’s Corp., has embarked on a quest to boost sales and improve its image by vowing to cut its greenhouse-gas emissions.

The world’s largest restaurant chain is adding LED lights and more efficient kitchen equipment, such as grills and fryers, in a bid to reduce emissions at its restaurants and offices by 36% by the year 2030 from 2015 levels. That is the deadline year set by the UN.

Also, changes to beef production will lower greenhouse gases from the company’s supply chain by 31%, the fastfood giant said. Its suppliers are experimenting with new paddock-style grazing practices, in which herds are rotated across sections of pasture. That allows the land to recover and reduces gases from cattle.

The company expects that the combined effect will be the equivalent of taking 32 million cars off the road for a year.

“We believe this will drive growth and drive our business,” Francesca DeBiase, chief supply chain and sustainability officer, was quoted as saying. “These are expectations that our customers have.”

The environmental moves follow the goal the restaurant chain set earlier this year to recycle trash at all of its 37,000 restaurants globally by 2025. As part of that effort, McDonald’s said it would make some food packaging more environmentally friendly. It has also pledged to help protect water supplies, promote animal welfare and preserve forests at cattle ranches that supply its beef.

In addition to Wall Street support for sustainable companies, small business can also reap the benefit of boosting their sales because the all-important millennial age group is keenly interested in sustainable businesses and is expressing its support for them with their purchases.

While these two examples present the 50,000-foot view, small businesses can also jump on the sustainability bandwagon.

• As owner, be outspoken in your commitment to sustainability.
• Look how your firm collects and recycles trash.
• Review what you buy and from which companies.
• Check your lighting.
• Urge your vendor and industry partners to follow your example.
• Inspire, sponsor or contribute to sustainable community projects.
• Compel your local officials to become sustainable.
• Spread the word.

Join the conversation in cyberspace about sustainability and its benefits for your small business. If you have examples of how you’re adopted the SDGs, let me know. If you need help, reach out to me.

Scroll through my blog to read about more ways to boost your outreach.

I’d also like to invite you to visit my Thought Leadership website:

http://thoughtleadership.yolasite.com/              

If you’re looking for advice on recruiting, company handbooks and other human resources topics, I’d like to suggest to you this interesting website:

http://hrtiebreaker.yolasite.com/

Are You Monitoring Your Online Security?

With all of us – businesses, non-profits (NGOs) and private individuals – on line everyone moment of the day, it behooves us to pay attention to our cyber network.

After all, we protect our homes, businesses and offices from burglars. Small business owners and NGOs would be foolhardy if they didn’t protect their computers, databases and cyber networks from criminal breaches. Invasions such as these pose a diabolical threat to you, your clients and donors, and our democracy.

Just how big is the risk? Extremely big and very real. According to the Verizon Data Breach Investigation Report, 61% of breaches hit smaller businesses, up from the previous year’s 53%.

UPS Capital reported:

• ·         Cyber attacks cost small businesses between $84,000 and $148,000.
• ·         60% of small businesses go out of business within six months of an attack.
• ·         90% of small business don’t use any data protection at all for company and customer information.

According to Statista.com, the average organizational cost to business in the United States after a data breach in 2017 amounted to $7.35 million.

Almost two-thirds of all cyberattacks are now directed at small businesses and people. Cyber criminals recognize that these categories are most likely to disregard paying attention to preventing cyberattacks.

You have to understand that you have a lot to lose. Small businesses and non-profits store not only their own critical data and information but also customer records (including possibly credit card, social security, and/or other numbers), vendor information, customer lists, passwords, and much, much more. You could be held criminally liable for not protecting your customers and donors’ information. You should protect it like your lives.

A survey of small business owners by Nationwide found only 13% of respondents believed they had experienced a cyberattack. However, when they are were shown a list of specific examples of attacks, including phishing, viruses and ransomware, the figure of those reporting attacks increased to 58%. As a result, you should learn about the types of attacks and oversee your staff’s computer activity.

There is a lot you can do to protect your small business from a security breach. Most often, data breaches stem from the following causes:

• ·         Hacking/malware
• ·         Credit/debit card fraud
• ·         Bad employees
• ·         Lost paper documents
• ·         Lost mobile devices, or
• ·         Accidental disclosure by someone within the company.

As a result, experts suggest that small businesses and non-profits do the following:

• ·         Regularly test your data security systems and procedures.
• ·         Develop a data breach response plan that includes a communications response plan ― how you will notify customers, staff, the media, etc.
• ·         Getting cyber liability insurance.
• ·         Train staff to spot the warning signs of “phishy” email.
• ·         Encrypt sensitive data.
• ·         Enable two-factor authentication.
• ·         Don’t forget physical security. Not all data theft happens online.

Statistically, attacks remain undetected for 146 days. When you uncover a cyber breach, you are advised to do the following:

• ·         Act immediately. Contact your IT team, legal counsel and cyber liability insurance agent.
• ·         Contain the breach. Take affected systems offline, but don’t turn them off. That’s so your IT team can examine the source of the breach.
• ·         Document every step. Authorities will need to know these details.
• ·         Communicate clearly. Ensure affected groups are made aware of the issue and the steps being taken.

The takeaway is that data security needs to be at the top of your list of vital daily tasks and be given the attention it merits. By taking the right precautions, and getting professional protection and coverage you greatly reduce the risk of catastrophic business interruption due to a security breach.

For my previous article on this topic, please refer to this post: Cyber Security is Your First Responsibility, located here: https://boostingyouroutreach.blogspot.com/2017/.

Join the conversation in cyberspace about cyber resilience. If you have examples of how you’ve protected yourselves, let me know about it and I’ll help you spread the word about your success. If you need help, reach out to me.

Scroll through my blog to read about more ways to boost your outreach.

I will be presenting an introductory workshop on social media at Ramapo College on Monday, March 19, at 6 pm. It will be sponsored by the NJSBDC-Bergen County and Ramapo College. If you’re available, please join and become part of the cyber crowd. Registration: https://www.eventbrite.com/preview?eid=43959333550

I’d also like to invite you to visit my Thought Leadership website:

http://thoughtleadership.yolasite.com/              

If you’re looking for advice on recruiting, company handbooks and other human resources topics, I’d like to suggest to you this interesting website:

http://hrtiebreaker.yolasite.com/

More Evidence SDGs Boost Revenue

Surfing the net, I came across additional, corroborating information that, as I have been writing, businesses that incorporate some or all of the Sustainable Development Goals into their companies’ business plans will reap the benefit of greater revenue.

An article by Madelein Cuff on www.GreenBiz.com stated companies are using sustainability strategies to boost revenues, cut operating costs and achieve better borrowing rates.

The findings were released earlier this month by Dutch banking giant ING and were based on the results of a survey, carried out by Longitude, of 210 finance executives from US-based companies with annual revenues of between $500 million and $20 billion.

According to the writer, the survey found the potential to grow revenues was the most important factor when deciding to implement sustainability strategies, with 39% of respondents citing revenue growth as a priority. Cutting costs was identified as the main driver for sustainability initiatives by 35% of respondents, while 30% said they primarily were seeking to boost brand reputation.

Among those businesses with well-established sustainability policies already in place, the opportunity to secure a more competitive borrowing rate than their competitors was also commonly cited as a driver of sustainable strategies, ING said.

Forty-eight percent of executives reported that sustainability concerns have at least some influence over a business’s growth strategy.

“We are witnessing an important shift in how companies in the United States view sustainability,” Gerald Walker, CEO of ING Americas, said. “Our research shows that it is no longer just about cutting costs or creating positive brand awareness ­— sustainability strategies are being deployed as true revenue drivers.”

In other words, embracing sustainability principles by your firms will positively affect all segments of your businesses. It will add revenue to your bottom lines.

The survey also demonstrated how sustainability strategies are starting to play an integral part in overall growth strategies, with 48% of executives reporting that sustainability concerns have at least some influence over a business’s growth strategy. This admission, at least, could influence other CEOs to join the sustainability bandwagon.

It also suggested the business appetite for green bonds could be filtering down from the largest corporates to smaller players in the market.

To date, appetite for green bonds has been greatest among firms with more than $10 billion in annual revenue, but 37% of smaller firms said they were planning to issue green bonds in the next two years.

“The increasing demand for green financing marks an inflection point,” said ING's Global Head of Sustainable Finance Leonie Schreve. “Our survey found larger firms have attracted a new breed of investors focused on meeting socially responsible investment mandates. We expect this trend to now expand to organizations of all sizes, as respondents across the board reported an increased appetite to both issue green bonds and undertake green loans.”

Regardless if you’re a Fortune 500 corporation and a local small business, the Sustainable Development Goals can help our planet, humanity, your marketplace and your bottom line.

Join the conversation in cyberspace about sustainability and boosting your business. If you have examples of how you used social media to boost outreach about sustainability, let me know about it and I’ll help you spread the word about your success. If you need help, reach out to me.

Scroll through my blog to read about more ways to boost your outreach.

I’d also like to invite you to visit my Thought Leadership website:

http://thoughtleadership.yolasite.com/              

If you’re looking for advice on recruiting, company handbooks and other human resources topics, I’d like to suggest to you this interesting website:

http://hrtiebreaker.yolasite.com/

SDGs: Great Opportunity for Small Businesses

Would you like to earn a piece of a $12 trillion a year opportunity in the course of the next 12 years?

Of course, you would. Who wouldn’t?

That’s the expected windfall of the Sustainable Development Goals (SDGs), according to the World Business Council for Sustainable Development and the United Nations.

The SDGs, adopted by the United Nations in the fall of 2015, are the product of extensive multi-stakeholder negotiations involving a wide range of sectors, including business. They set the framework of 17 goals to tackle the world’s most important social, health, economic and environmental challenges in the lead-up to 2030, the UN’s deadline for implementation.

The goals have the potential to unleash innovation, economic growth and development at an unprecedented scale and could be worth at least $12 trillion a year in market opportunities and generate up to 380 million new jobs by 2030. The SDGs hold great possibilities for all businesses.

For cutting-edge businesses with savvy leaders that strategically and tactically comprehend the advantages of dynamic thought leadership, this pro-civilization orientation offers a wide range of outreach opportunities. Small local businesses, restaurants and hospitality, retailers, hospitals and healthcare, manufacturers and others should get on board soon.

Opportunities include: new markets, enhanced reputation, staying ahead of the curve, and obtaining a license to operate in various countries.

Globally and locally, the SDGs will not be realized without large and small businesses. The 17 SDGs and the 169 time-bound targets supporting the principles, represent a comprehensive and interconnected framework. It has resounding universal relevance for all stakeholders and nations. Its ambitions effectively transform every country and situation into a developing country, giving everyone and every entity the chance to build business from the ground up.

Business as usual will not achieve the SDGs, nor will innovation by a few pioneers. A new business plan with as much buy-in as possible is required for success. This is beyond the reach of any one company. Realizing the goals means collaboration among a critical mass of companies at the local, industry, national and global levels.

While the broad concept of sustainability and environmental friendliness isn’t new, the 17 SDGs are so there isn’t a large body of best practices but rather there are many emerging practices. As a result you may understand how your company can protect the environment in your local park but you still can’t get your arms around contributing to such goals as poverty eradication – Goal 1.

Fortunately, the SDGs provide an opportunity for you to think outside of the box. For example, if you’re selling toilet cleaners, paper or supplies, your consumers have toilets but many people around the world don’t. The World Health Organization and UNICEF report that 1 in 3 people worldwide doesn’t have proper toilets. That’s about 2.4 billion people or roughly one-third of the world’s population.

Maybe you can do something about that – Goal 6 Clean Water and Sanitation. Not alone, but in partnership with other businesses in your town or industry. That way you will also be fulfilling Goal 17 Partnerships for the Goals.

Stated differently, the broad scope of sustainable development isn’t only about hugging trees. Yes, it is about improving the planet’s ecology and living conditions for future generations. But it is also about boosting your company’s outreach because there is a demanding consumer.

One of today’s largest consumer segments – your customer – is unabashedly pro-sustainability. The millennials. This vocal group of 14-35 years olds is taking active and inactive actions to achieve the SDGs. Millennials feel a personal connection to their ideals and preferred brands, and their wallets reinforce their preferences. If you support sustainability, they and their friends will become your loyal customers.

“If you look at the millennials, they are the first generation now who are willing consciously to spend more for better quality, for sustainability, for traceability. I think there is a change,” observed Peter Brabeck-Letmathe, chairman of Nestlé. “I think that if you’re looking at the success stories in the food industry lately you will see that those successes are normally in products which have a relatively high price and it’s basically a [success] coming from the new generation. So I would say from this respect there is a change.”

But beware of the opposite. If you and your trading partners reject building the SDG principles into your business plans, then millennials and other consumers won’t pay attention to your goods and services.

Millennials use numerous media outlets, such as Twitter, and they have no reservations about revealing to the world that one or another company is damaging rain forests or refusing to live up to the 17 SDGs. Their unambiguous message will be “don’t buy from XYZ Inc.”

Here are some steps that you, an entrepreneur and business owner, can incorporate into your business activities:

Individual-level

Stay informed about the SDGs and make them your business. Keep up with the sustainable development agenda to ensure that your company is well placed to capitalize on opportunities and pre-empt disruptive risks.

Spread the word

Engage your network of peers, owners of other small businesses in your town, your trading partners, on this agenda to create a tipping point for business engagement.

Company-level

Develop a thorough understanding of how your company’s local and global business activities translate into economic, environmental and social impacts in the context of the SDGs.

Set goals

Plot a course towards enhancing positive and mitigating negative SDG impacts.

Develop business solutions

Apply an SDG lens at the strategic level to harness your organization’s potential to engineer business solutions that make your company more successful and sustainable.

Communicate – Reach out

Regular and transparent communication about your SDG performance and progress is essential. Tell your community, newspapers, radio, TV, elected officials, businesses, vendors and consumers about your plans and achievements.

Sector-level networking

Collaborate with peers, competitors, trading partners, business clubs, and other stakeholders to frame the SDGs in the context of your industry sector. Building a community of likeminded companies builds a strong sustainable community.

Roadmaps

Set a collective vision for your industry and collaborate on initiatives to realize sector transformation. Issue calls to action

Call for all companies in the sector to align, collaborate and report on their progress.

Policy-level Advocate

Openly advocate for the introduction of key policy and finance enablers that will help to achieve a tipping point.

Engage with the global goals, the SDGs, and embrace them as part of your identity and strategic vision. With such a hot issue, it’s not smart to be a sustainability follower, waiting for others to show the way, it’s better to be a thought leader and take advantage of the opportunities.

Join the conversation in cyberspace about sustainability and boosting your business. If you have examples of how you used social media to boost outreach about sustainability, let me know about it and I’ll help you spread the word about your success.

Scroll through my blog to read about more ways to boost your outreach.

I’d also like to invite you to visit my Thought Leadership website:

http://thoughtleadership.yolasite.com/              

If you’re looking for advice on recruiting, company handbooks and other human resources topics, I’d like to suggest to you this interesting website:

http://hrtiebreaker.yolasite.com/

NJSBDC Ramapo Case Study: Hafco Foundry & Machine

Small businesses and even non-profit organizations, which by and large are also businesses with a mission rather than profits in mind, have the good fortune to turn to Small

Business Development Centers for comprehensive guidance on many day-to-day business issues ranging from how to start up a venture, to expansion and even succession advice.

These centers are situated in many locations in every state, oftentimes affiliated with a university or college business school.

I recently learned of an interesting and fruitful collaboration between the New Jersey Small Business Development Center at Ramapo College of New Jersey and Hafco Foundry & Machine Co., Oakland, NJ. As a result, the company successfully emerged from succession difficulties and set out on an energetic course of prosperous business development.

Hafco is a family-owned distributor of metal castings and machined parts to the rail industry, and manufacturer of industrial pneumatic vacuums and dust equipment for the coal mining industry. Founded in 1969 by Horace Fornaci, the company is managed today by brother co-presidents, Basil and Billy Fornaci, who are third-generation owners of the business. During nearly five decades in business, Hafco experienced steady and consistent growth, achieving more than $6 million in annual sales.

Basil and Billy Fornaci joined the company in 2011 and 2013, respectively, with Basil as the head of sales, and Billy as the chief engineer. Their uncle, Michael Fornaci, served as president for 16 years, and their father, William Fornaci, the CFO.

In September 2015, Michael Fornaci unexpectedly passed away.

With no written agreement in place to cover ownership succession, his widow became the default owner, and placed her trust in a law firm that cared only for her personal gain, without considering the needs of the business or its employees. Having cast CFO William Fornaci as an adversarial party, instead of the next rightful president, the company’s future was anything but certain. Legal and accounting fees were mounting, with little communication with William Fornaci.

Then in March 2016, William Fornaci passed away, before any ownership rights were transferred.

The Fornaci brothers took control of day-to-day operations, while also reviewing a draft of an agreement, proposed by the original lawyers, written to cover the ownership and define the future operations of the company. It was at this point that Billy Fornaci reached out to the New Jersey Small Business Development Center at Ramapo College.

Vincent J. Vicari, regional director of the center, assigned the Hafco case to business consultant Jim Palumbo, whose experience and knowledge was a perfect fit for the company’s immediate needs. At the very first meeting, Palumbo pointed out some significant flaws in the way this agreement was written. The agreement was then re-written and accepted based on recommendations of Jim Palumbo. Basil and Billy Fornaci were quick to realize that business people cannot take business advice from lawyers and accountants without verification. The NJSBDC at Ramapo later connected Hafco with a law firm that ultimately served as a neutral party, drafting the formal agreements and handle the transfer of ownership.

Palumbo’s advice turned out to be invaluable for Hafco. In fact, he saved the company from what could have been a disastrous agreement. Over the past year and a half, Palumbo has helped to transform Basil and Billy from family business employees to confident and knowledgeable business owners. In addition to managing day-to-day operations, they’ve learned to create a business plan, generate yearly and quarterly budgets, and forecast the company’s sales. More importantly, they’ve realized the value of implementing all of these business tools.

The company’s growth was recently recognized by the state-wide New Jersey Small Business Development Center. Hafco was presented with the center’s Small Business Growth Success Award.

“The SBDC was a blessing in disguise for us. Our company was at such a fragile point when we reached out to Vince. We were able to use many of the resources and knowledge that the NJSBDC could provide,” observed Basil Fornaci.

His brother Billy noted “Being paired with Jim Palumbo was exactly what we needed. His knowledge and expertise were so valuable to a point where I was ready to make him an offer to get him out of retirement. We will be continuing to meet with Jim once a month as our business is now growing faster than ever and the ability to execute some of his ideas really shows. Thank you and see you at the top.” 

Today, Jim Palumbo and the NJSBDC at Ramapo continue to offer advice to Hafco in areas such as human resources, distribution agreements, marketing plans, customer relations, inventory management, etc. Going forward, Basil and Billy will continue to implement these new skills and knowledge, and carry on Hafco’s legacy of success.

Small Business Development Center locations can be easily searched online. In New Jersey, the main office is located at Rutgers University in Newark. The Center is committed to guiding established small business owners and aspiring entrepreneurs to create and expand their business enterprises, which will, in turn, result in sustainable growth, job creation and statewide economic development and prosperity. NJSBDC counseling is free. Training workshops are fee based but affordable.

NJ Small Business Development Centers

Rutgers Business School

1 Washington Park, 8th Floor

Newark, NJ 07102

https://www.njsbdc.com/

NJSBDC at Ramapo can be contacted at this address:

Vincent J. Vicari, Regional Director

NJSBDC at Ramapo College of NJ

Anisfield School of Business

505 Ramapo Valley Road

Mahwah, NJ 07430-1623

https://www.njsbdc.com/locations/bergen-county/

Small businesses will be interested to know that there is a wave of optimism on the horizon. Check my previous blog. In view of this buoyant mood, it would be wise to promote your goods and services now using all traditional and new wave media and social media. Don’t forget to tweet and retweet often – up to a half a dozen times a day – about what you produce and offer.

If you need help, contact me.

I’d also like to invite you to visit my Thought Leadership website:

http://thoughtleadership.yolasite.com/              

If you’re looking for advice on recruiting, company handbooks and other human resources topics, I’d like to suggest to you this interesting website:

http://hrtiebreaker.yolasite.com/

Scroll down on the Boosting Your Outreach blogsite to read or reread older posts.

PHOTO: At the NJSBDC Small Business Growth Success Awards luncheon: Brenda B. Hooper, CEO and NJSBDC director, Basil and Billy Fornaci of Hafco Foundry & Machine Co., Joe Palumbo, and Vincent J. Vicari, regional director, NJSBDC at Ramapo College.