Providing statEwide guidance and resources to the small business community

1. Providing statEwide guidance and resources to the small business community

2. My Story • Graduated from Bryant in 1998 with a degree in Business Management in Psychology • Accepted a job as a software developer writing web based software and working on Y2K conversions • Started a web design company while working full time with a co-worker • After 5 years, decided to venture out on my own and build my company full time • Doubled sales in 4 consecutive years, employed 12 full time staff and recognized as Top 100 Private companies and 3rd fastest growing in RI (PBN)

3. Am I a Small Business Owner or an Entrepreneur? • Entrepreneurs and business owners have a different relationship with their companies.  • Entrepreneurs view their companies as assets.  Something to be developed, shaped and potentially readied for market.  • Entrepreneurs are always on the lookout for new opportunity • Small business owners are often experts at their craft and are more sentimental about their businesses.  • Small business owners look at their company as a way to provide for their family as an alterative to working for someone else • The small business owner starts a family bakery that can be passed down through the family, while the entrepreneur looks to open multiple locations and potentially franchise/sell the business

4. The Concept • Launch RISBJ as an integrated marketing company (not a magazine/publishing company) and offer a variety of media • Become a mission driven marketing company with a main goal of providing guidance and resources to small businesses throughout our state, helping to spark economic growth • Stay away from negative controversial topics and focus on businesses that deserve attention for their growth and sustainability • Become the statewide voice of entrepreneurship that inspires, motives and supports the aspiring, first time and experienced entrepreneur.

5. Where did the concept come from? • Personal background in startup companies and working with startups on brand identity and business development • Built companies that have been ranked among RI’s top private and fastest growing • Donated time as a preferred consultant and regular presenter for SBDC, SBA, SCORE, CWE and RIEDC helping provide guidance for small businesses • Having personally seen the challenges most businesses face, the question was how do we reach more of these businesses in need? • Small business drives economic growth, however most small businesses lack the tools and resources to grow in these tough conditions

6. Key Content • Pre-startup: Helping individuals decide if business ownership is right for them and what they need to know to be better prepared • Startup: For companies that have just started, providing tools and resources to help them grow • Small Business: For established companies, articles to give them an edge over the competition and stay competitive • Other key sections: Women in Business, Commercial Real Estate, Featured Chamber of Commerce, Town and Non Profit

7. Market Evaluation • Rhode Island Businesses • Smallest state in the country • Population of 1,051,302 • Rhode Island has 95,390 small businesses • 63,292 have no employees • 31,154 have employees (< 500) • 944 large employers (>500+ employees)

8. The Bad • Current economic conditions are among the worst ever • Since 2006, there are 1.6 million less self employed • Rhode Island ranks as one of the worst states in the country to do business • CNBC Rankings: • Cost of doing business - #46 • Business Friendliness - #48 • Cost of Living - #43 • Access to Capital - #35 • Economic Conditions - #42 • Forbes Rankings • Regulatory environment - #50 • Current economic climate - #49 • Business costs - #40 • Labor supply - #38

9. The Good • Size of state • Access to major cities such as Boston and New York with lower cost of living • Nationally recognized Universities (Brown, RISD, JWU, Bryant, PC, URI) • Quality of life • Due to the size of our state, small changes can have a bigger impact than in other states

10. Our Market • RISBJ targets B2B companies within the Rhode Island market • Companies looking to sell their products or services to other business owners • IT companies, phone service, copiers, credit card processing, accountants, attorneys, banks, etc etc. • Companies looking to target individuals who are consumers but the profile of a business owner fits their demographics • High end car dealerships, mortgage companies, wealth management, etc.

11. Self Evaluation: What am I good at? • What am I good at? • Identify the role you will have within your new company • Work within your strengths • Personal strengths • Leadership • Branding • Marketing strategy • Business development

12. Self Evaluation: What am I not good at? • What am I not good at? • Just as important to identify weaknesses • Hire or partner with others to help • Don’t try to be a business owner, marketing expert, designer, accountant, lawyer, financial planner, etc. • Personal weaknesses • Office management • Paperwork • Overseeing sales/production staff on a daily basis, • AP/AR

13. The Business Plan • General business plan developed for internal use, not outside financing • Since our plan was developed over 18 months ago, we’re still on target with almost all of our goals and projections • We’ve modified the plan as we go and new ideas develop • It’s always a work in progress

14. The Competition

15. The “WHY”? • Customers don’t buy what you do, they buy why you do it • The RISBJ “WHY” is because Rhode Island small businesses need the support and resources to succeed and we are that resource. With other media focusing on the negative aspects of RI and the business community, RISBJ will inspire, support and motivate business owners. • The RISBJ “WHAT” is that we offer a full marketing program to help companies reach decision makers in a B2B market.

16. The Mafia Offer • RISBJ pre-sold discounted ads with only a rate card and sample cover • By offering introductory rates and sharing our passion and vision, pre-startup contract sales covered a full year of production costs

17. The Ramp Up • RISBJ spent 8 months leveraging social media and email to build awareness • RISBJ.com was launched as an online resource/blog for small business owners to share content and events • During that time, RISBJ built a list of over 40 contributors to provide content that was relevant to business owners • Strategic partnerships were also part of building our brand awareness: Chambers of Commerce, local/state Government, SBA, SBDC, Universities, radio, etc.

18. The Launch • The first printed issue of RISBJ was released in February 2012 at a launch party in Providence to an audience of over 350 business leaders throughout the state. • Over 10,000 copies of the premier edition were distributed to over 300 locations statewide, including all of the Chambers of Commerce

19. Our Current Reach • Over 10,000 printed copies of RISBJ distributed monthly to over 450 locations statewide • Over 1,000 copies of RISBJ mailed directly to some of the state’s top executives • Email list of over 32,000 with a minimum of 3 emails sent weekly • Social media network of over 50,000 combined through Facebook, Twitter and LinkedIn • Web traffic of over 1,500 unique daily visits

20. Our Growth • RISBJ has remained a profitable company since our launch • Each issue of RISBJ has grown in revenue • Our staff has grown from two business partners and a designer to include a second part time designer, an assistant editor, 1 full time account manager with another starting shortly and 4-6 interns each semester