It’s difficult to imagine a more succulent image than a bowl of cherries.

Indeed, if you had to choose one flavor for all things, wouldn’t you choose the sweet red berry?

And every parent knows that the active ingredient of bad-tasting medicine has more chance of getting inside a child if delivered with the motivating ingredient of cherry flavor. Even the most earnest plea known, “Pretty please?” can still be raised one more notch on the pleading scale by adding, “… with a cherry on top?”

But there is something about this vermillion varietal that begs a closer look, because everything about it is not sublime. Alas, the cherry’s single blemish is its pit – that tiny little seed that you can’t, or at least shouldn’t, eat. This dense little kernel is so potentially dangerous that some restaurants no longer sell cherry pies because if just one seed is not removed, teeth can get broken and a lawsuit could ensue.

So with that much potential danger to be found in a whole bowl of cherries, if such an offer were made to you, why would you still smile with sweet anticipation? Why wouldn’t you think first of the pits? Aren’t you afraid of them?

Well, the answer is yes; you are wary of cherry pits. But the fruit is so sweet you think of that first, which helps you overcome pit-o-phobia. Plus, you’ve learned that if you take the time to remove the pits properly, a wonderful and safe experience will result.

What if you saw the fruit of an opportunity first, instead of the potentially dangerous seed of a problem? What would happen if you thought of challenges in your small business like you do cherries: a sweet opportunity to be had if you can first remove the potential danger? How would your world change if you could learn how to do this? Perhaps the Chinese said this first because their word for crisis is spelled with the two characters that mean danger and opportunity.

The Blasingame Cherry Principle (BCP) proposes that finding opportunities among the many small business challenges you face on a regular basis should be done with the same logic required when eating cherries: Step one – remove pits; Step two – eat fruit.

Remember, there’s no crying in baseball and no whining in small business. So before you allow a challenge to cause your lower lip to protrude, remember that our most creative work is often forged in the crucible of tough times.

When dealing with a challenge, stay focused on the potential sweet fruit, not the pit.

In about six months either Barack Obama or Mitt Romney will be elected as the next president.

12% - Barack Obama

83% - Mitt Romney

5% - Neither

My Commentary:
The Republican primary process is practically, if not technically over, and all signs point to a contest this November 6 between Barack Obama and Mitt Romney. Every day, one or more national polls are being released showing how these two are doing against each other either in general, or with regard to one group or another, such as independents, for example.

We wanted to know how Obama and Romney were doing with the small business electorate, so last week we asked this question of our audience: “In about six months either Barack Obama or Mitt Romney will be elected as the next president. At this moment, who will you vote for?”

As you can see, if our poll is any indication regarding small business politics, President Obama has some work to do with those who create over half of America’s GDP, employ over half of all workers and create most of the new jobs. Can he close the gap?

#####

I have talked to several experts on my radio program, The Small Business Advocate Show, about the 2012 election, why it’s so important, and the prospects of the two parties. Click here to see the list and download or listen.

For millennia, there have been four basic elements of the relationship between a customer and a business: The product, the buying decision, control of information and word-of-mouth. For the first time in history, two of these elements are shifting in favor of the customer.

1. In the new Age, control of the product or service still remains with the Seller, but has diminished as a control factor for at least two reasons: a) virtually everything you sell has become a commodity; b) customers have multiple shopping and purchasing options including traditional and online markets.

2. As it has always been, the Customer continues to retain control of the buying decision. Shifts in the next two elements represent the primary difference between the Age of the Seller and the Age of the Customer.

3. Not since Guttenberg’s printing press first made books available to the increasingly literate masses has there been such a shift in access to information. Indeed, innovations in the past 30 years made the entire universe of human knowledge generally available with a very low barrier-to-entry – including information formerly controlled by Sellers.

4. Once upon a time, knowledge about Customer experience was a function of the word-of-mouth maxim: “If a customer likes you they will tell one person, if they don’t like you they will tell ten people.” In the new Age, the influence of Customer experience has morphed and expanded from classic word-of-mouth to the disrupting phenomenon called “user generated content,” or UGC. This is the electronic posting of customer experiences, questions, praise or condemnation of a Seller’s products and services. If that old word-of-mouth maxim were being coined today it would sound more like this: “Whether customers like you or not, they have the potential to tell millions.”

Here are two Age of the Customer realities to which your business must be able to adjust: 1) customers have virtually all the information they need to make a purchase decision without ever contacting you; and 2) there is no place for bad performance to hide.

Write this on a rock… Your future survival and success depends on whether you embrace or disregard the Age of the Customer.

#####

For more information on The Age of the Customer™, click here.

#####

The Question:

31% - Very much - it’s like we’re from different planets

57% - Somewhat - it’s noticeable but we’re handling it

11% - Not at all - what problem?

My Commentary:
“What we have hee-yah, is a fail-ya to communicate.” This was the lament of Captain, the road crew boss in the movie “Cool Hand Luke,” played by the great character actor, Strother Martin. Apparently, there is a lot of this going around in the workplace today.

As you can see, 89% of our respondents reported some level of communication issues between the generations in the workplace, with almost one-third expressing extreme frustration. There are a number of reasons for this, especially in two areas: the increasing influence of technology in our lives and we’re living in a time where people are staying in the workplace longer than in the past 100 years.

The Patient Protection and Affordable Care Act, aka Obamacare, was passed by Congress and signed into law by President Obama two years ago. It was considered the signature accomplishment of the president’s first term.

Obamacare was hailed as comprehensive health care reform that would not increase the deficit and would solve rising insurance costs for small businesses. Two years hence, here is evidence that seem to refute these claims.

1. The initial price tag for Obamacare was $940 billion over 10 years. The Congressional Budget Office (CBO) recently reported the new estimate to be $1.76 trillion over 10 years, almost doubling the original claim.
   
2. Instead of the lower insurance costs small businesses were promised, the non-partisan Congressional Budget Office expects costs for small group and individual insurance purchasers to rise faster now than without Obamacare. And according to the Galen Institute, Obamacare’s early mandates contributed to employer costs rising three times faster last year than they did the year before.

3. There are at least two parts of Obamacare that are causing small businesses to restrict growth plans and rethink compensation models and employment structure in anticipation of these provisions.
   • The employer mandate requires small businesses with more than 49 employees to provide “government-approved” health insurance or face a $2000 fine per employee, after the first 30. The employer mandate does not apply to part-time employees.
     
   • Obamacare does include tax credits for employers with fewer than 50 employees, but as the number of full-time employees and average compensation increases, the credits decrease. These provisions seem to be at cross-purposes with much needed jobs and income growth. Also, even if the individual mandate currently being considered by the Supreme Court is struck down, the employer mandate and tax credit restrictions would still apply.
     

4. We wanted to know how small business owners feel about Obamacare, so in our online poll recently, we asked this question with three possible answers: “On the 2nd anniversary of Obamacare, where do you stand on this law?” Twelve percent of respondents chose, “I like it and think it will be good for America,” while those who were “Undecided,” represented 10% of our sample. But the rest, 78%, said “I don’t like it and think it should be repealed.”

Write this on a rock… Obamacare is contributing to the economic uncertainty that small business owners are feeling.

#####

On my radio program, The Small Business Advocate Show, I’ve talked extensively with Grace-Marie Turner, President of the Galen Institute, co-author of Why Obamacare is Wrong for America and staunch advocate of market-based healthcare solutions, about the real cost - in dollars and liberties - of Obamacare.

Click here to listen or download our conversations.

Watch as Jim talks about the transition from The Age of the Seller to The Age of the Customer™.

As you prepare to file personal - and probably business - tax returns next week, what do you think about increasing the tax level on people with higher income?

12% - Those who make more should pay a higher tax rate.

78% - Success should not be taxed at a higher rate.

10% - Undecided

My Comments:
One of the big debates being pushed by President Obama is that those who are “more fortunate” should pay their “fair share” of taxes. We wanted to know what you thought about this idea, so in our poll last week we asked this question:

“As you prepare to file personal - and probably business - tax returns next week, what do you think about increasing the tax level on people with higher income?” Here’s what we learned:

Twelve percent of respondents to our unscientific, online poll said, “Those who make more should pay a higher tax rate, and those who were “Undecided” came in at 10% of our sample. But the big number, 78%, allowed that “Success should not be taxed at a higher rate.”

In the time left between now and the election on November 6, I think the debate that will result from President Obama’s “fair share from the more fortunate” campaign strategy will eventually turn into a national discussion of whether Americans who earn more just got lucky, or because of their hard work became successful. But if my prediction is right, and if our small business poll results are representative of the general electorate, the President might want to rethink this component of his class warfare strategy for 2012.

#####

Recently, on my show I talked about this tension between fortune and success and the Buffett Rule. Here’s a link to that podcast. Also, look for more on this topic from me over the next few weeks.

Recently, pro golfer Bubba (Gerry, Jr.) Watson, won his first major tournament – the 2012 Masters Championship at Augusta National in Georgia – only a few days after he and his wife adopted their first child.

During the presentation of the legendary Masters “green jacket” after the tournament, CBS sports host Jim Nantz, asked Bubba about the heady combination of becoming a new dad and winning the Masters. Answering with the refreshingly unscripted authenticity that is pure Bubba, he said, “I never got this far in my dreams.”

Bubba’s honesty about the giant leap from his dreams to his new reality made me think about small business owners starting and growing their “baby.”

Every small business begins as a dream. The dream of controlling our own destiny, being our own boss, finding financial success, and of course, doing what we love – construction, web development, tires, landscaping, mobile apps, cooking, insurance, shoe strings, (your baby here).

A golfer’s dream of qualifying for the PGA tour must be accompanied by years of diligent preparation and arduous practice, perhaps to merely survive in this elite arena, let alone become a star. Being a pro golfer is difficult and comes with no guarantees.

Like a PGA pro, as a small business owner’s dream comes to pass the imagined quickly gives way to survival realities: being undercapitalized, cash flow challenges, our new bosses – employees (didn’t see that coming, did you?), and serving the people essential to fulfilling the dream of every business owner, those pesky customers.

And the reality of starting and growing a small business is a lot like becoming a parent: Bringing a baby or a business into the world is much easier than raising either one successfully. Before you know it, a growing business becomes like a teenager in two ways:

1. It always has its hand out for money; and
2. You will always love it, but you won’t always like it.

Then one day, almost unexpectedly, as critical mass is achieved from hard work and dedication to your dream, you’ll find yourself achieving the legendary small business green jacket – financial success and self-determination. Conceived by a dream, made from the fabric of excellence by diligent hands, custom tailored to fit your professional and personal countenance, and acquired against all odds.

Being a pro small business owner is hard, and it comes with no guarantees.

How far have you gotten in your dreams?

#####

38% - We have job openings but it’s difficult finding qualified applicants

32% - We are able to find qualified employees when we have an opening.

29% - We are not hiring and don’t expect to this year.

My Comments:
Over the past several decades, the challenge most often identified by small business owners as their greatest has varied between inflation, taxes and the cost of health care insurance. But for the past few years, another concern has risen to the top of the list: finding qualified employee candidates.

Consequently, in last week’s poll we asked, “What is your experience in finding qualified applicants for your job openings?

The greatest number, almost four of ten, said, “We have job openings but it’s difficult finding qualified applicants.” one-third of our respondents reported, “We are able to find qualified employees when we have an opening,” while a little less than one-third said, “We are not hiring and don’t expect to this year.”

The American economy - and society - has serious problems when only 40% of small businesses are growing employment, but even those can’t find qualified applicants among 22 million unemployed.

#####

On The Small Business Advocate Show, I’ve talked with Bob Prosen, President/CEO of the Prosen Center for Business Advancement and author of Kiss Theory Good Bye about improving your hiring practices to find employees for 21st century jobs. Take a few minutes to click on one of the links below to listen or download our conversations.

Improving your 21st century hiring practices

Hire new employees who have done their homework

Hire salespeople who understand customer relationships

Once a storm caused two ships to sink in the same area and all on board were lost at sea, save one from each ship, who survived only because they swam to a nearby island.

Fortunately, the two men hauled themselves up on the beach within sight of each other. But the survivors’ celebration soon faded as they realized that each spoke a language unknown to the other.

Immediately they had the same thought, “I don’t speak his language, but if we’re going to survive, we have to find a way to communicate.”

In many ways, this tale actually plays out every day. But instead of on the high seas, our story takes place in the marketplace. And instead of shipwreck survivors, our real life players are small business owners and bankers.

Like the castaways in the first story, the latter two often realize that:

1. They need each other to be successful
2. They don’t speak each other’s language very well, if at all.

With so much common interest and so little mutual understanding, can these two create a successful survival story? Absolutely, but only if they have Blasingame’s Official Translator for Banks & Small Business. Here are a few key examples of how the Blasingame Translator works.

For small businesses to understand banker they must:

1. Identify their banker as a success partner and their business’ best friend.
2. Stay close to their banker when things are going well and even closer when things aren’t.
3. Believe that an uninformed banker is a scared banker and a scared banker won’t help you.
4. Pay attention to what motivates and impresses a banker, like attention to detail.
5. Understand pertinent bank rules and regulations, so as not to ask for something that can’t be done.
6. Reward banker loyalty with your loyalty.

For bankers to speak small business, they must:

1. Understand that it’s redundant to say “undercapitalized small business.”
2. Recognize that starting a small business is easy - operating a successful one is not.
3. Explain banking rules and regulations more often.
4. Realize that it’s the banker’s job to recommend services and products.
5. In the credit scoring process, always find a way to give small business owners credit for character and past performance.
6. Reward small business loyalty with banker loyalty.

For small business, and bankers to avoid being castaways, speak each other’s language and become partners.

#####

On my radio program, The Small Business Advocate Show, I recently talked with Mike Menzies, President of Easton Bank & Trust in Easton, Maryland, about the key elements of a successful relationship between a small business and its bank. Take a few minutes to click here to listen or download our conversation.

The Question:

12% - I like it and think it will be good for America.

78% - I don’t like it and think it should be repealed.

10% - Undecided

Commentary:
In an ironic coincidence you can’t make up, during the week of the second birthday of Obamacare, the Supreme Court heard more than six hours of arguments - for and against - as it considers challenges to the constitutionality of ObamaCare.

During this momentous week we wanted to know the attitude of small businesses - Main Street’s court - on Obamacare, so we asked our audience this question: “On the 2nd anniversary of the Patients Protection and Affordability Act (ObamaCare), where do you stand on this law?”

A little more than one-in-ten of respondents to our unscientific, online poll said, “I like it and think it will be good for America.” Those who said, “I don’t like it and think it should be repealed,” came in at a resounding 78%. And those who were “Undecided,” represented 10% of our sample.

We will find out in June if SCOTUS agrees with small businesses.

Over millennia, innovations took markets from local to global, and now to the 21st century iteration – virtual. Virtual markets are powered by “cloud computing,” aka “the cloud,” and accessed via the Internet.

Historically, as trade expanded markets, products led the way because services were difficult to convey to the last mile of consumption. But technology has helped services catch up, and now digital services are delivered efficiently from the cloud. And more than anything else, this last reality is helping small businesses compete and grow in ways that were formerly the domain of larger companies.

Here are five cloud-based resource categories that help your small business operate more efficiently, competitively, and profitably.

1.  Processing power
Robust software can be purchased incrementally and accessed as needed. Advantages include increased capability, most recent updates and expensing instead of capitalizing.

2.  Information power
Cloud-based communication, customer development, community building and financial applications help small businesses acquire and manage information quickly and strategically.

3.  Sales power
Cloud-based e-commerce has never been easier or more cost-effective for small businesses to offer, sell, and even deliver products and services 24/7/365.

4. Talent power
More and more, 21st century jobs don’t require employees to be under the nose of management. Cloud-based employee search capability improves candidate acquisition, and cloud-based communication and collaboration tools help virtual working relationships succeed.

5.  Asset protection power
Business assets used to be largely tangible, like inventory, equipment, etc. Today all businesses are increasingly creating opportunity from intangible assets. But for small businesses, protecting intangible, digital assets has been problematic. Cloud-based data back-up services work automatically, securely, productively and cost-effectively.

It’s likely that most small businesses use cloud resources more than they realize – which is a good thing. But with all of the cloud power available, every small business should become more aware of how to use cloud-based services and seek these options for their growth and profitability strategies.

Power your marketplace performance with the cloud.

#####

On The Small Business Advocate Show, I’ve talked with with a lot of experts on how small businesses can take advantage of “the cloud” from becoming finding efficiencies to finances and data backup. Click here to see all of the cloud computing podcasts and download or listen.

• Half of the prospects and customers in his market cannot find his business.
• Half of the calls his prospects and customers want to make to his business never get through.

Pretty scary, huh?! Glad that’s not your nightmare, right?! Well, hold on to that thought as you digest the following information.

Currently, about 100 million Americans own smartphones and that number is growing exponentially. That’s about half of the U.S. population who are likely to own a smartphone sometime in the near future. Here’s the math: 300 million Americans, minus children and others not likely to own a smartphone equals about 200 million, of which half already own smartphones.

So what are 100 million Americans doing on the tiny screens of these magic wands? Besides making calls, texting and sending emails, they are:

1. Shopping online – making decisions about what they want and who to buy it from.
2. Navigating to businesses – the one they chose while shopping, or the one previously unknown to them that pops up in their local search.
3. Buying stuff – using PayPal, credit card, or internal charge in the case of an established account.

But in order to do all three of these things in such a way that makes it easy-peasy for the smartphone owner, the business has to be mobile-ready. That means having all of your business information and resources compatible with the smartphone form factor and technology in at least two ways:

1. Online information is optimized for mobile search, especially local search.
2. A mobile website option is available to smartphone users.

By now you get the picture that the anxiety attack of the small business owner mentioned earlier is because his business isn’t ready for mobile primetime. So how dry is your forehead right now?

In The Age of the Customer™, where being relevant to customers is trumping being competitive, a big part of relevance is being fully accessible and high-functioning regardless of how a prospect or customer wants to connect with you. And every day, that connection is increasingly being requested from the palm of the hand.

This will be on the test: Not all small businesses need a mobile app, but all need a mobile website.

Is your business ready for mobile primetime?

#####

This morning on The Small Business Advocate® Show I talked with Kevin O’Brien, Director of the AppConnect program at our friends, Constant Contact, about including mobile apps in your growth strategy and how to know if your business needs an app or a mobile site. Take a few minutes to click on one of the links below and listen to our conversation — the future of your business could depend on it!

Why mobile apps should be part of your growth strategy with Kevin O’Brien

Does your business need a mobile app or a mobile site? with Kevin O’Brien

The price of gas is going up. How much, if anything, do you believe President Obama contributed to this increase?

18% - None - Market force, not politics are to blame for gas prices.

31% - 100% - Obama’s policies have directly or indirectly caused this increase.

51% - 50-50 - Markets are in play, but presidents have ways to influence gas prices.

Jim’s Comments:
As noted in Tuesday’s post, the condition of the economy, with emphasis on unemployment, will play a big part in the outcome of the 2012 presidential election. One other component that hits every American in the pocket is the price of gasoline, which right now is very high. Our question this week was designed to find out what small business owners think about who or what contributes to such high prices.

As you can see, more than eight of ten of our respondents think President Obama has caused or influenced the high prices. If you like politics, it will be very interesting to watch the President respond to the politically charged economic element of gas prices over the next eight months.

The most obvious example is the way we treat our bodies — this stack of protoplasm that drives our spirit around. Surrounded by plenty and extravagance, our eating habits can lead to longevity or brevity. We know that smoking shortens life, as does drug and alcohol abuse. And since more and more of us pursue a sedentary profession, lack of exercise can affect our quality, as well as our length of life.

Recently, a cardiologist friend told me that over half of his practice involved treating patients who were sick because of their lifestyle alone. A sobering statement.

But that is an example of what we do to our flesh and blood. What about that thing I mentioned that is driven around by our protoplasm, the spirit?

At this stage in my life, I’ve noticed that many people my age are emotionally and spiritually adrift. When I use the word “spiritual,” I’m not talking about theology, although that could be part of the equation.

In my anecdotal observation of this phenomenon of humanity, I’ve noticed that everyone I know who fits this “adrift” category has one thing in common: They have lived their lives without having anything in it that was more important than themselves.

This group was more likely to not have an active faith life. They were more likely to have not volunteered over the years for some social, community or religious cause that allowed them to contribute to people whom they would never meet. In short, they had spent very little of their lives putting others first, including their own children.

What have I learned from my observations? I’ve learned that just as we should nourish and exercise our protoplasm, making sure we avoid things that harm our flesh, we should also nourish and exercise our spirit. And in my opinion, one of the best ways to do this is to spend as much time as possible putting other people, and worthy beliefs, above our own immediate gratification.

What does this mean for small business owners? I think it means that we should take care not to let our precious business, that we have nurtured from birth and love so much, become the single most important thing in our life. This is a challenge I make to you and I also make it to myself.

Oh, and cut back on the doughnuts and get yourself to the gym a couple of times a week.

It is generally stipulated among political experts and interested observers of the 2012 election cycle that the presidential contest will be heavily weighted toward the condition of the economy, especially unemployment.

The unemployment metric most often cited by the media and politicians, called U-3, is from the Bureau of Labor Statistics (BLS) and was recently reported to be 8.3%, or just over 12 million Americans. This number does not include those who have given up looking for a job or transferred onto Social Security disability.

But there is another statistic tracked by the BLS called U-6, which covers a more comprehensive unemployment universe, including those who have stopped looking and those who are involuntarily underemployed. The most recent U-6 number came in at 14.8% of the workforce, or more than 22 million Americans. Expect to hear more about U-6 between now and November 6.

It can also be stipulated that the Obama Administration has been keen to promote “green jobs,” seemingly, at times, at the expense of not-so-green jobs. We wanted to know what small business owners think about this type of economic focus, so we asked this question in a recent online poll: “Emphasizing ‘green jobs’ has been a big part of the Obama Administration’s plan for the direction of the U.S. economy. Do you agree with this plan?” Here’s what we learned:

Those who said, “Government should significantly influence conversion to a green economy,” came in at 15% of our sample. The other 85% said, “Innovation and customers should decide how the marketplace converts to green.” This topic apparently brings out strong feelings, because none of our respondents were “Uncertain.”

Another stipulation we can make is that everyone likes it when a “green job” is created. First, it’s a job. Second, it’s good for the environment. And third, well, it just makes us feel good. But right now, what America needs is for the millions of small businesses to create any kind of jobs – period! It shouldn’t matter if it’s green, brown, periwinkle, or any other color in the Crayola box; we need all kinds of jobs – and we need millions of them as soon as possible.

In America’s free market economy, jobs are a product of opportunity and a casualty of fear and uncertainty. Small businesses are telling Washington to promote opportunity for all jobs with policies that minimize fear and uncertainty.

A single-minded focus on green jobs isn’t good economics, policy or politics.

#####

Yesterday on my radio program I talked more about the focus on green jobs and why I - and 85% of my viewers - believe the government should provide opportunities for all businesses, not just green ones. I’ve also had a conversation with Ray Keating, Chief Economist of the Small Business & Entrepreneurship Council about why there are policies and regulations that favor green jobs, sometimes at the expense of other jobs. Click on the links below to download or listen.

Also, leave a comment and let me know your thoughts on whether the government should create specific policies for and subsidize green jobs.

What kind of jobs does President Obama like? with Ray Keating

America needs jobs in all the Crayola colors with Jim Blasingame

Don’t surrender; attack back! Fight with your strengths, and win the day.

There are many tasks every small business owner must handle personally, but none is more CEO-specific than allocation of capital. Because the only thing more precious to a small business than capital is time.

Cash management is also a CEO-critical task, but operating cash is not capital. Cash is for expenses and is measured daily, weekly, and monthly. Capital is for investment and, as such, is measured in years; possibly even generations.

Below are three classic capital expenditure categories.

1. Replacement and upgrade
This is not repair (that’s an expense funded by operating cash flow), it’s a bigger commitment, most often caused when repair is no longer an option, or by obsolescence.

2. Innovation
Exciting innovations in digital devices and programs are at once creating opportunity and causing disruption. Small business CEOs have to mete out precious capital for innovation in a way that maximizes opportunity and minimizes disruption. This is a tough job because 21st century innovation weaves a fine seam between the leading edge and the bleeding edge.

3. Growth opportunity
Should your market footprint be expanded with an acquisition or new branch, or should an investment be made to build-out more online capability? Should investment be made in support of a new product direction, or in a digital inventory management system connected to the supply chain?

What to invest capital in – and when to do it – is different for every business. But what is not unique is making sure cash and capital are applied properly. Here are three classic best practices:

1. Don’t use operating cash to pay for something that has a life of more than a year.

2. Leaving profits in the business produces retained earnings as reserves to be used for capital investment.

3. A bank loan can augment retained earnings when the timeline of an opportunity or unfortunate capital-eating event doesn’t match your internal funding ability.

And remember, bankers love it when you have retained earnings skin in the game.

As we move from economic recovery to expansion, there will more and more decisions associated with growth opportunities. Having a capital plan that combines proper allocation of cash, retained earnings, and banking resources will go a long way toward helping you stay relevant to customers, maintain a competitive advantage, and be more profitable.

The only thing more precious to a small business CEO than time is capital. Use it wisely.

Don’t be a mullet. Watch this video to learn how to become a student of negotiating, and you will become an effective negotiator.

If a presidential candidate asked you how the economy is looking for your business in 2012, what would you say?

12% - We are expecting significant growth this year

55% - We see signs of improvement, but nothing significant

33% - We’re still waiting on the recovery to start

My Commentary:
No less than six people are crisscrossing the U.S. at this moment with the same thing on their mind: The desire to be elected President on November 6. The Republicans have four candidates, Romney, Santorum, Gingrich and Paul; the Libertarian Party candidate, Gary Johnson; and, of course, the incumbent, Barack Obama.

There are many issues that have been debated and which are part of each hopeful’s stump speech; but none more than the economy.

So where are America’s small business owners likely to fall on this most-important topic? We wanted to know what reaction a presidential candidate would get from a small business owner out on the hustings, so in our unscientific online poll we asked that very question: “If a presidential candidate asked you how the economy is looking for your business for 2012, what would you say?” Here’s what you said.

The big group, 55%, said “We see signs of improvement, but nothing significant.” The next largest part of our respondents, 33%, lamented, “We’re still waiting on the recovery to start.” The smallest group, only 12%, said “We are expecting significant growth this year.”

We’ve been polling small business owners online with questions about the economy and their businesses for over two years, and the numbers have not changed very much. But the most compelling finding in our economy-focused polls has been that when you combine those who are doing just okay and those who are still struggling, the number has consistently been between 75%-90%.

There are 28 million small business owners in America and another 70 million who work for small businesses. Based on our polling responses - which compares closely to several scientific small business surveys, including the gold standard, Dr. Bill Dunkleberg’s NFIB Survey of Small Business optimism - it seems clear that the now-famous slogan of Bill Clinton’s former political advisor, James Carville, “It’s the economy, stupid,” may be more valid in 2012 than it was 20 years ago when the term was first used.

#####

Yesterday on my radio show I talked more about how small businesses feel about the economy and why politicians should pay attention. Take a few minutes to click here and listen or download.