Archive for the ‘Uncategorized’ Category

Certification for Shredder

August 29, 2008
According to Trans Union , a credit bureau, New York State ranks in the top ten in highest incident rate of identity theft per person nationally and the most popular source of information for identitiy theft is employer records.

Michael Hasting is an aspiring African-American entrepreneur with a dream of making Omega Secure-Shred a mega business. Recognizing the onslaught of document security threats, he founded his Troy located mobile document shredding company in March of 2007.

The company was growing steadily through a well thought out marketing strategy, but realized that there could be additional opportunities through certification in New York State’s Minority and Woman Owned Enterprise program. Since, he passed the one year anniversary of his start the three to four month application process began with the assistance of the Small Business Development Center (SBDC).

We have found with MWBE certifications that the most important advantage is not necessarily the certification, but what the company does with the certification once it is granted. Many view the certification as the magic beans that will have customers breaking down their doors to do business. Unfortunately that is not reality and persistent and tenacious selling and marketing their products and services still falls to the business. Instead of solely utilizing the MWBE certification as a marketing strategy, Omega Secure-Shred utilizes their certification as a component of an otherwise sound marketing strategy; coupled with a valuable service that is in demand within the market.

 

Successful MWBE companies have taken the initiative to seek out the business in both the public and private sectors utilizing both government set asides and corporate supplier diversity programs. Hasting’s portable shredding business has negotiated contracts with two NYS agencies, RPI, and four large private firms under supplier diversity programs.

 

Through their MWBE certification, Omega Secure-Shred is given a greater opportunity in bidding on NYS contracts by creating an avenue for the agency to comply with MWBE set asides. In addition to the NYS contracts, Omega Secure-Shred uses their certification as an added benefit for companies that have supplier diversity programs and purchasing departments that are looking to fulfill the company’s commitment to supplier diversity.

 

 

 

 

 

Shredder Truck

Omega Shredder Truck

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Recession

August 19, 2008

The dreaded R-word. If there is another piece of lexicon that sends bigger shivers up and down the spines of financial pundits and consumers alike, it would have to be Depression. We’ll save that for another equally uplifting entry.
So what is a recession, in business terms, at least? It refers to a period of economic downturn and is defined by Barron’s Dictionary of Finance and Investment Terms as:
“ ..Defined by many economists as at least two consecutive quarters of decline in a country’s Gross Domestic Product”.
In other words, if the market value of goods and services produced in the US decreases for two straight quarters, we can safely, albeit unhappily, declare ourselves to be in a recession.
It would appear though, that the definition of a recession has taken on a subjective quality; trawling the business and political news in the past few months has shown a startlingly wide array of arguments as to whether or not we are in a recession.
It seems we can’t even agree on bad news.
What can you do to protect your business from the downturn? Not a lot, quite frankly. There are fairly significant forces at play here. There are a few things you can do to either ride out or take advantage of the situation.
1. Revisit your strategic plan or business plan. Remember that document? What contingencies did you put into place to anticipate and mitigate a reduction in sales? If you didn’t prepare contingency plans, it’s never too late to do so.
2. Cut back. Take steps to trim any excess. The emphasis should be on running lean and running efficiently.
3. Prepare your employees or partners. If you anticipate being impacted by the downturn, you should have conversations with your employees. Discuss how both you and they would be affected. Will there be cuts involved? What steps can you take together? Some businesses welcome voluntary pay or hour cuts. Remember, the more your employees feel they have a stake in your business, the more likely they are to step up.
4. Shop for deals. Take advantage of reduced prices and a willingness of suppliers to negotiate. A reduction in profit margins is better than no profits at all. Caveat Emptor
5. Barter.
6. Put on your game face. Look yourself in the mirror, square your shoulders and say: “I signed up for this – in good times and in bad. Let’s make the most of this.” This isn’t the first case of economic downturn and it certainly wouldn’t be the last.