Last Friday, Black Friday, I took my kids to Tysons Corner Mall. You ask, “Why would any sane male of near average intelligence go to Tysons Corner Mall on Black Friday?” Because I love my kids. My twin fourteen year olds wanted to see the new Harry Potter movie, and Tysons Corner has the closest IMAX screen. For those of you in the Northern Virginia Area, yes, I am aware that the Udvar-Hazy annex of the Smithsonian Air and Space Museum has a huge IMAX screen at Dulles airport. However, you can't buy a ten dollar keg of Diet Coke there. Food and drinks are prohibited. So I drove the kids to Tysons Corner Mall. The marketing theme for the mall is, “Tysons Corner Mall – You can't park here.” For those of you outside the Northern Virginia area, Tysons Corner Mall is located an easy two minute drive from hell.
When we were about ten minutes from the mall, I warned the kids. “In ten minutes, you are about to hear a string of four letter words.” They asked why.
“Because it is going to take an hour to find a parking space there. You know how famous I am for my patience driving.”
We turned off route 7 on to International Drive and then right into the parking garage complex. We waited about five minutes to get through the three way stop and then proceeded into the first garage on the left. I could see about a dozen cars circling aimlessly through the garage seeking open parking spaces. Of course, being male, I have a theory, which I was about to test, regarding the parking habits of the average female Christmas shopper.
In a parking garage, women tend to drive up through the garage to higher levels not down to lower levels. Instead of following the crowd, I headed for the down ramp to the lower level of the garage. My theory worked as perfectly as the big bang theory works explaining the origin of the universe. There was only one car in front of me. It was a minivan being driven by an Asian woman.
In my glee and competitive zeal, I shouted,” Tora! Tora! Tora! We beat you at Pearl Harbor. I'll beat you to a parking space down here.”
Shannon said, “Technically,we lost at Pearl Harbor.” Kids these days use the word technically a lot. It means, “Dad, you're full of shit.” But, they aren't allowed to use the word, shit. The disadvantage of having bright kids is that they let facts get in the way. As we drove down the ramp, I asked the kids to watch for open parking spaces. Yeah, right, two fourteen year olds are actually going to pay attention to the matter at hand. No way. I could only hope the parking garage would block cell phone reception, and that texting wouldn't work.
Out of the corner of my eye, I thought I spotted a car driving away two rows to the right, but I wasn't certain. That meant there might be an open space there. Julia shouted from the back seat that a space was available two rows to the right. Who knew a teenager might actually pay attention. I think Harry Potter in IMAX was a strong motivator. I hoped the driver of the minivan wouldn't spot the space before I did. When she made a left at the bottom of the ramp I called out, “Pearl Harbor all over again, bitch!” I revved up our Kia Sorrento to mach one and squealed the tires going right at the bottom of the ramp. I made a perfect landing into the open space that was in the middle of the row that was furthest from the mall opening. In hind sight, it made perfect sense for the minivan to turn left at the bottom of the ramp. She was turning towards the mall entrance. Since I am the expert on female behavior that my ex-wife says I am not, I should have anticipated that behavior.
We walked into the mall on the second level of terrace A. I had purchased our movie tickets on line before we left on my I-phone. Technology baby! Who says old people aren't tech savvy? We still had about two hours before we could be seated for the movie. We decided to not take a chance on long lines at the box office and started walking to the cinema to pickup our tickets. Being the math genius that I am, I had purchased four tickets for the three of us. Who knows how I came up with four? I probably learned to count the same day I learned World War II history. Kindergarten was tough.
We picked up the four movie tickets at the box office. That took us about five minutes. We still had a long time to kill in a mall filled with thousands of non-English speaking foreigners. I wasn't aware of this, but apparently the American dream is to work hard, save, and shop at Tysons Corner Mall. We had a lot of wandering ahead of us. After a few minutes, we reached a down escalator and rode to the lower level. There we saw a short line of parents and children waiting to see Santa Claus.
Think about this the next time you take your five year old daughter to see Santa Claus. Can you think of any better pedophile disguise than a Santa Claus costume? What type of background check do these people receive? I can't imagine it is quite as extensive as getting a top secret CIA clearance. Shouldn't it be, however? Shouldn't they at least have experience as Wal-Mart greeters? This is just food for thought. My youngest children are fourteen. So putting a young child in a potential pervert's lap seems to be more your problem than mine.
Santa Claus was at one end of the mall. We turned around and headed back to the other end of the mall getting as far away from that pervert as possible. At the far end was a Barnes and Noble bookstore. We are a family of geeks and dweebs. We spend a lot of time in bookstores. If I have an hour or so of time to kill, I am perfectly happy killing it in a bookstore. Actually that is my second choice. Any place with beer is my first choice, but my kids were with me. So we slogged our way past hundreds of future US citizens on the way to the bookstore.
As we approached the bookstore, I noticed a line of mostly women in front of a store across the way from the bookstore. I looked into the store, and it didn't look that busy inside. I was curious. Hey, it's just the way I am. I looked up and saw the store's name – Urban Outfitters. At that point, I understood why they were controlling access to a store that wasn't very busy. I also understood why about ninety percent of the people in line were female.
The only possible explanation was that the women (mostly) were there to see Keith Urban. They were there to outfit him like a giant Ken doll. They could take turns dressing and undressing him. The ninety percent female ratio also made perfect sense. About ten percent of our population are gay males. Keith Urban apparently has an open mind about such things.
Here is where I have a problem, however. Isn't it discrimination to have a store when you can dress and undress a man, but not to have a similar store where men can dress and undress a famous woman? I am volunteering to open a store called “Aniston Outfitters.” I have lots of great ideas for fashion accessories for Jen. Even better, I have a relationship with her. It's called a restraining order.
In my next post, I will delve into the marketing theory behind why Urban Outfitters treats its customers this way. Of course, I think they are as full of shit as I am about Pearl Harbor.
Monday, 29 November 2010
Monday, 22 November 2010
Women Entrepreneurs The Secrets of Success for Monday, November 22nd
Gilli Moon, author, artist, singer/songwriter, record label owner, certified professional coach and “Artist Entrepreneur,” takes you on an enriching journey of artistic and professional discovery with her second book "Just Get Out There," (her first book is "I AM A Professional Artist – the Key To Survival and Success In The World of the Arts").
"Just Get Out There" is the Artist's bible to achieving abundance, self-empowerment and professional success as an Artist entrepreneur. 300+ pages filled with in-depth tips, tools, steps and resources on getting out there as an Artist, all the while achieving personal, financial and professional success and joy.
"Just Get Out There" covers topics such as defining your uniqueness; building your dream and creating a plan around your goals; balancing the art with the 'business' through time management and prioritization techniques; fundamentals in producing, releasing, marketing, promotion, performing and touring; using the Internet; and a plethora of in-depth tips, tools, steps and resources on getting out there as an Artist.
Throughout this book, Gilli is guiding you, asking you questions, giving you exercises, and making you think and act the way a strong business savvy Artist should, leading you to the Artist you ultimately want to become. "Just Get Out There" provides Artists inspiration: a sense of hope and assurance through anecdotal stories (some about Gilli’s personal life), motivational messages and real, practical, tried and tested strategies. Ultimately it’s about enjoying the journey along your path to creative success.
Although Music business-centric, based on Gilli’s own experience as a singer-songwriter and recording artist, this book’s practical advice and inspirations can be applied and enjoyed by all Artists of any genre and discipline. "Just Get Out There" is about Gilli’s journey, which hopefully will inspire your journey. It is a handbook, a guide, a blog, a reality check,a heartfelt song spilled onto 300+ pages which Gilli inspires you to live your dream, find the inspiration within, and just get out there.
http://www.gillimoon.com
http://www.facebook.com/gillimoonmusic
http://www.youtube.com/warriorgirl111
http://twitter.com/gillimoon
http://www.myspace.com/gillimoon
http://www.warriorgirlmusic.com/
8:00 pm EDT
Listen to the live or archived show at:
http://www.blogtalkradio.com/CoachDeb
Friday, 19 November 2010
Women Entrepreneurs Featured on "Homemade Millionaire"
"We are super excited to be working with TLC and HSN on this project," explains Kelly Ripa and Mark Consuelos. "We're sent so many innovative products from women every day, and to be able to help them get into the marketplace is a dream come true for us. These inventors have worked so hard in this show. We're beyond proud of them."
Each hour-long episode of "Homemade Millionaire" follows the competitive journey of three women vying for a chance to sell their inventions on HSN. The lucky inventors were put through a series of tasks designed to get their product ready for consumers. Helping Kelly coach these women along the way are two business experts, Wendy Robbins and Ed Evangelista, who serve as mentors for these budding business women as they evolve their product and build a unique marketing strategy to present to HSN.
Thursday, 18 November 2010
Women Entrepreneurs The Secrets of Success for Thursday, November 18th
Debbie Schaeffer is the president and CEO of Mrs. G TV & Appliances in Lawrenceville, NJ. She is the third generation of women leaders since her grandmother started the business 75 years ago. With a background in engineering and construction, Debbie brings an eye for clean design and practical & efficient function to her 20,000 sq. ft super showroom.
Debbie is not just a leader in her industry, but in the community as well. She has continued her family legacy of supporting charities like The United Way of Mercer County, KitchenAid Cook for the Cure® and Habitat for Humanity, and continues to engage the local community with events and speakers.
In 2009, Debbie was awarded the Mercer Regional Chamber of Commerce Outstanding Small Business of the Year and was recognized for her leadership in consumer electronics with a Women in CE Legacy Award. In 2010, Debbie was honored at the Princeton YWCA Tribute Awards for her community service and leadership in empowering women. Debbie resides in Princeton with her two daughters.
Monday, 15 November 2010
Speaking Anxiety - Are You Making This Mistake?
You have many opportunities to "perform" inside your business. Basically, that's any time you're talking - on the phone, in your mastermind group, working with clients, and in formal presentations or workshops. For a lot of people, these are times when stage fright kicks in.
Fear of speaking affects most of us in some form. In fact, surveys find that we're more afraid of speaking than we are of dying! Because stage fright is so common, Jerry Seinfeld joked that "at a funeral, the average person would rather be the one in the casket than the one giving the eulogy."
Consequently, some people avoid speaking in their business as much as they can, preferring to hide behind the computer. This is understandable, but unfortunate. Other people forge ahead by bucking up and powering through their fear. Hats off to you! At least you're out there doing it.
OK - many speaking coaches and psychologists endorse this as the best approach to getting over that fear - this powering through. I disagree. I believe they back this because they don't know there's another way to eliminate the anxiety.
Here's why bulldozing through your fear is not effective as a business strategy: Your anxiety is still high. And that creates these problems:
- You're on edge and can easily be thrown off course by a microphone that doesn't work, or an introduction that's not quite what you want.
- Your listener feels your tension and can misinterpret what it means.
- Your creativity is cramped, making it hard to think on your feet or answer questions well.
- Your voice is affected - maybe shaky, maybe too soft, or monotone -- so you don't sound strong.
- It's hard to convey compassion or certainty, so there's a distance created between you and your audience.
So powering through your stage fright is a poor choice. OK - It's true -- some people just keep doing that and over time they DO reduce their anxiety. But there are people who have been speaking for 20 years and the fear is still there!
What's the answer? Concentrate on eliminating the fear first. It doesn't have to be a long drawn-out process. That's old school thinking.
There are several rapid-change techniques and processes available to help get rid of that anxiety permanently. EFT or "tapping" is what I use with clients. And if you choose another path, that's great - just be clear that you DON'T have to "feel the fear and do it anyway." Find a way to get rid of that stage fright and start enjoying all your opportunities!
From the desk of Janet Hilts MPH, EFT-ADV
http://SpeakUpAndShine.com
Copyright © 2010 Janet Hilts, Speak Up & Shine | Clearing Pathways, Inc.
Sunday, 14 November 2010
Why prepare a business plan?
Q: My partner and I are planning to start our own business in a field in which we are very experienced. We don’t need financing, so why should we spend time preparing a business plan? My father didn’t have a business plan when he successfully started and ran his business many years ago.
A: Starting your own business can be the most rewarding experience of your life or it could become your worst nightmare. Though the overall statistics vary, at a minimum, half of the small businesses fail within the first two years and 80% fail within the first five years.
Why do so many small businesses fail?
Business is risky, especially starting a new one. You may be risking your own, someone else’s, or borrowed money, but, at the very least, you are risking your own time, energy and self-esteem.
Many things have to go right for a business to succeed. You need the right idea, right market, right place, right time, right management and right amount of capital.
A well prepared business plan will help you answer these questions and reduce the risk. The value of a business plan lies in the thought process – not necessarily in the finished document. The disciplined, systematic approach helps you, and your advisors, to think things through thoroughly, to research to ensure all relevant facts are known and correct, and to look at your ideas critically.
So taking prudent steps to prepare an appropriate business plan which increases your chances of success would seem to make good sense.
A business plan does not necessarily guarantee success - you can start up successfully without one and you can fail with a good one. It simply increases your odds of success.
And, of course, business planning does not stop with a successful startup. Our business environment is always changing. The process of keeping your business plan current will provide you with a good decision making tool to deal with new challenges and opportunities when they arise.
Get help in preparing a business plan by attending SCORE educational events and using our free counseling services. Visit the SCORE website, www.scorehouston.org, where you will find training schedules, useful templates, links and other information to help you deal with many business issues including preparing a good business plan.
A: Starting your own business can be the most rewarding experience of your life or it could become your worst nightmare. Though the overall statistics vary, at a minimum, half of the small businesses fail within the first two years and 80% fail within the first five years.
Why do so many small businesses fail?
Business is risky, especially starting a new one. You may be risking your own, someone else’s, or borrowed money, but, at the very least, you are risking your own time, energy and self-esteem.
Many things have to go right for a business to succeed. You need the right idea, right market, right place, right time, right management and right amount of capital.
A well prepared business plan will help you answer these questions and reduce the risk. The value of a business plan lies in the thought process – not necessarily in the finished document. The disciplined, systematic approach helps you, and your advisors, to think things through thoroughly, to research to ensure all relevant facts are known and correct, and to look at your ideas critically.
So taking prudent steps to prepare an appropriate business plan which increases your chances of success would seem to make good sense.
A business plan does not necessarily guarantee success - you can start up successfully without one and you can fail with a good one. It simply increases your odds of success.
And, of course, business planning does not stop with a successful startup. Our business environment is always changing. The process of keeping your business plan current will provide you with a good decision making tool to deal with new challenges and opportunities when they arise.
Get help in preparing a business plan by attending SCORE educational events and using our free counseling services. Visit the SCORE website, www.scorehouston.org, where you will find training schedules, useful templates, links and other information to help you deal with many business issues including preparing a good business plan.
Friday, 12 November 2010
Enhance Your Immunity for Balance this Autumn
According to Ayurveda, a person in good health will not be affected by even the most contagious disease because natural resistance to disease is part of being in good health.
In Ayurveda, immunity is dependant on the digestive fire, our capacity to digest and assimilate nutrients. If your body is healthy the immune function is strong and foreign bodies are destroyed and removed so that it can return towards a state of homeostasis. If your body is not healthy, foreign bodies can survive in that environment. Toxins from undigested food also provide a favourable environment for foreign bodies.
So, how can you improve your eating habits and lifestyle choices to enhance digestion. Here are a few dietary, lifestyle and yoga tips to set you on the right track for enhanced immunity this autumn.
Dietary tips to enhance digestion
Be aware of:
* how you digest (how do you feel after a meal? light, satisfied?)
* the size of your portions and when you have eaten enough
* the foods you eat - do they suit your constitution ?
In Ayurveda, foods such as milk, ghee or clarified butter and honey (in moderation) are also considered important for enhancing immunity.
Other suggestions:
* Include many fresh organic fruits, vegetables, nuts, and beans in your diet. To get the nutrients for an enhanced immune function, make sure that there's always plenty of fresh organic produce around.
* Sip hot water or ginger tea throughout the day but not during mealtimes to enhance your digestive capacity.
* Reduce your sugar intake and alcohol, both of which affect the activity of white blood cells
Lifestyle tips
There are several lifestyle choices that can tip the scales towards either illness or health. Try the following ideas to help boost a healthy immune system:
* Be regular with your mealtimes so that the body is prepared for periods when it will be nourished.
* Maintain a healthy body weight (ideally BMI between 20 -25) Being underweight or overweight places stress on your organs and body functions, thus adversely affecting the immune function.
* Have a good night's sleep
* Exercise regularly - 3-5 times a week for 30 minutes is the recommended minimum
Yoga tips
* Savasana, the basic relaxation position, can help to reduce stress, lower blood pressure and heart rate, reduce muscular tension, reduce fatigue, improve sleep, and enhance immune response.
* regular meditation e.g. simply sit in a quiet place for a short period each day
* do alternate nostril breathing to balance the mind and body and boost immunity
Many of the practices to support good health and immunity are intertwined. Lowering stress levels can help you to sleep more soundly and choose more nutrious foods. Sleeping more soundly can give you more energy to exercise. Ayurveda's holistic approach can help you develop a lifestyle that is good for your body and your mind while supporting health and immunity.
Janet Gomez, nutritional consultant, produces the "Nutri-Jyoti News", a free bi-monthly e-newsletter for busy professionals. Feel ready to learn how to use nutritional strategies to manage your energy levels? Then sign up for her FREE e-course "5 Nutritional Keys to Vitality in your Life" on the Nutri-Jyoti home page now.
Copyright © 2010 All rights reserved Janet Gomez
Thursday, 11 November 2010
How Small Businesses Can Win at Social Media
by Debbie SchaefferI find that Social Media for LOCAL businesses is still in its infancy. Many businesses feel that it is too much work and do not see the benefits. Those of us that are in it - yes it does take work - but the field is constantly changing and growing and becoming more techno-savvy so by participating and constantly learning, we will be way ahead of those that join in later.
Here are some tips from my experience with social media:
Social Media Presence
I belong to Facebook, Linkedin, Twitter, Foursquare, Yelp and YouTube and I have a blog on my business site. On your blog or website you should have all the icons to these sites linking back to them. They should be positioned where they can be easily seen. I see many sites with the buttons on the bottom of the page and you don't even notice them.
Not only should you have a personal page but you must have a business page. There are approximately 120 people on my business page that do not follow me personally. Most of the people are customers and not necessarily personal contacts. It's important to share news and events, announce sales, show customers' before and after photos, talk about expert solutions, and more. This gives you another opportunity to turn up in search engine results.
The common question is how to get people to "like" your business page. You need to be proactive to ask people especially if you are a local business. Always ask! If you don't, then they won't know your page exists. Then, you can add the Facebook button on any online communication you have whether it's a website or email newsletter.
This is a great example of using social networking for making B2B connections. Many people who are on Linkedin are not on Facebook so you don't have to worry about repeating your message in multiple places. Linkedin allows you to describe your business as well as explain your position. You only have so many words you can post an update but its a great way to keep people up to date with sales, events and great info. I get more feedback from Linkedin post than any other site. It's a good idea to join groups, but be prepared to spend time joining in the conversation.
I have two accounts. One for me and the store (@DebbieSchaeffer @Mrs_Gs)
Yes it is very cool to have a ton of followers but if you are a local business and your customers are local, having a follower from California or the UK doesn't help if you are looking to gain more customers. However, the beauty of Twitter is that you can follow experts in your field, I follow the CMO of Best Buy. I also follow all my brands who have Twitter accounts. I love to "retweet" and be the first on my block to announce something big. For example, JD Power & Associates recently announced that Wolf is the #1 range, but I was the first to tell my Wolf rep. It felt good!
Foursquare
This sight is getting more popular everyday. People leave tips about a business or restaurant, offering great feedback to potential customers and the business managers as well. As a business owner, you can place special deals and coupons for people who "check in" to your location. I have also created a Foursquare profile and venue for my upcoming 75th anniversary gala. When guests arrive, they can "check in" and leave tips for an opportunity to win fun prizes. There are many ways to entice customers to interact with you or your business with Foursquare. However, like Facebook Pages, you need to encourage people to "check in" through your various communication channels both online and in person.
YouTube
For a year I knew I needed to do more video but I just didn't know how to get started. As cameras have become more sophisticated and smaller, creating a video is easier than ever. But it wasn't until I went to a local Social Marketing Seminar on YouTube that I said now is the time to just do it! I'm far from a natural in front of the camera, but I keep trying. I created a mrsgs.tv page which will contain all my videos and it will link to the main page of my business site. Consumers prefer to watch a video than read - look how great Old Spice is doing with their video campaign.
Debbie Schaeffer is the 3rd generation female business owner of Mrs. G TV & Appliances in Lawrenceville, NJ. She is a nationally recognized leader among women in consumer electronics and has become known among colleagues and vendors as a social media maven. Visit her store, read her blog, and watch some video at www.mrsgs.com.
Wednesday, 10 November 2010
Hire Your Relatives
I'm not certain why I should have to write this chapter. This idea seems so obvious. However, I also expect that at least half of you have already done this, and you likely disagree with me. “My business hasn't failed,” you tell me. The problem with hiring relatives isn't that your business automatically fails instantly. What really happens is that your business dies a slow death.
Imagine a business where employees are hired based on family relationship instead of competence. The bookkeeper was hired because she is the owner's wife. The sales manager is the owner's brother-in-law. The operations manager is the owner's brother. Oops – is this your business?
Let me ask you a few questions. Did you hire your wife as bookkeeper, because she has an accounting degree and tens years of bookkeeping experience? Did you hire your brother-in-law for his experience running a competitor's sales department? Did you hire your brother, because he spent fifteen years in charge of distribution for Wal Mart? Of course not. You didn't hire any of them for their qualifications. You hired them because you trust them (hopefully), and because they were convenient hires. You didn't have to search much to find them. Did you hire the rest of your staff this way? The problem with hiring relatives is that they aren't qualified in any meaningful sense. What do you get from unqualified employees? Misery. You know better. Nonetheless, you did it and will continue to do it.
One of my clients. Ted, had a brilliant idea no one had ever thought of before. That concept alone should set off alarms. I have never had an original thought in my life. You haven't either. Every time I think I have one, I end up losing money. The best ideas are stolen ones. Let someone else prove there really is a market for toilet paper with George Bush's face on it – either George Bush. Personally I would buy it with Jimmy Carter's face on it. Maybe not, my butt has standards.
Ted owned an average white guy small IT firm. It was really small – just him. He hoped to land some lucrative federal contracts. However, the federal government really doesn't award many contracts to average white guy small IT firms. To get these contracts as a small company, you have to prove some sort of historical discrimination or disadvantage. Ted thought for awhile. He was the stereotypical average forty year old white male on his second marriage with two rotten kids. To make matters worse, he paid his taxes on time, had no felony convictions, and gave money to his church. What government would possibly want to do business with a guy like this?
Ted knew of a Small Business Administration (SBA) program that allowed companies owned by women, racial minorities, and other oppressed groups to receive special preferences in bidding for federal contracts. He thought, “Hey, I'm married! This must be God telling me why I got married. I couldn't figure out why otherwise.” Ted had the brilliant idea to make his wife, Cindy, the 51% owner of his company.
The SBA isn't completely made up of morons, idiots, and ne'er do wells. Ted's idea wasn't exactly original. In fact, thousands of average white males have thought of this trick before, and the SBA has attempted to enforce rules against sham ownership to qualify for set aside programs. However, since the SBA is made up of bureaucrats, who spend most of their time before congress shilling for more money, this scam works pretty much 100% of the time. Nonetheless, women-owned businesses are supposed to be run by qualified women.
Here were Cindy's qualifications for running a small average white guy IT firm. She had spent her five years with Ted doing the laundry, cooking poorly (according to Ted),and wiping the noses of snot-nosed little spawn of Satan. Actually, that last part really is a good qualification to run an IT firm. It pretty much describes the IT work force of the twenty first century. So you think I'm being harsh? Have you ever wondered why Windows crashes so often? In fact, it just auto rebooted on me during the previous paragraph. I rest my case. Children of God wouldn't have created Windows. No, they didn't create the Mac either. The developers of Windows are snot-nosed spawn of Satan billionaires. No I am not envious – as I drive my Kia down to the Smart Shopper to purchase generic gruel for my family. Really.
Ted went to his attorney and signed over fifty-one percent of the stock in his S corporation to Cindy. Ted went off to secure a few really nice federal contracts and hired twenty little spawn of Satan programmers to service the contracts. Cindy, now president of “her” company, continued ruining laundry, embarrassing the culinary world, and wiping snotty noses.
Life was wonderful for a couple years and Ted was able to pay Cindy and himself six figure annual salaries with generous pension contributions. However, heaven apparently can't last forever. Maybe Ted was tired of ruined laundry and dog food meals. Maybe Cindy caught him tongue dancing and doing the horizontal bop with her best friend. I was just the CPA. Who am I to judge? In any event, they decided to split.
Actually Cindy decided to split. As president of the company, she ran down to the closest bank branch, walked right up to a teller's window, and demanded to close the company's accounts. She wanted the $300K in the accounts on a cashier's check made out to her personally. Of course, we have all been to bank branches. The tellers have less authority in most banks than the janitors. The teller sent her over to the branch manager, who excused herself and called Ted. The game was on. Cindy didn't get the money. The branch manager told her she needed to have a resolution from the company's board of directors authorizing her to close the accounts. This was about half true, but it stopped Cindy from getting the money.
Divorce lawyers were summoned, and the real fight began. Cindy claimed that she owned 51% of the company and she was firing Ted. Ted claimed the ownership transfer was a sham. Yes, he really did argue that he had committed fraud with the SBA regarding the woman-owned business classification. I don't believe that Cindy actually wanted to fire Ted and own the company. What would she have done with it? By the time of the divorce, the company's major government contract had expired and was not renewed. There really wasn't anything left to own at that point. I suspect she just intended to use her majority ownership share to get more of the remaining money. Ted and Cindy reached a property settlement and divorced. Ted kept the company – what was left of it. The moral to this story is clear. If you make your spouse an owner, you have a problem if you get divorced. Since about half of all marriages end in divorce, consider yourself hereby warned.
Imagine a business where employees are hired based on family relationship instead of competence. The bookkeeper was hired because she is the owner's wife. The sales manager is the owner's brother-in-law. The operations manager is the owner's brother. Oops – is this your business?
Let me ask you a few questions. Did you hire your wife as bookkeeper, because she has an accounting degree and tens years of bookkeeping experience? Did you hire your brother-in-law for his experience running a competitor's sales department? Did you hire your brother, because he spent fifteen years in charge of distribution for Wal Mart? Of course not. You didn't hire any of them for their qualifications. You hired them because you trust them (hopefully), and because they were convenient hires. You didn't have to search much to find them. Did you hire the rest of your staff this way? The problem with hiring relatives is that they aren't qualified in any meaningful sense. What do you get from unqualified employees? Misery. You know better. Nonetheless, you did it and will continue to do it.
One of my clients. Ted, had a brilliant idea no one had ever thought of before. That concept alone should set off alarms. I have never had an original thought in my life. You haven't either. Every time I think I have one, I end up losing money. The best ideas are stolen ones. Let someone else prove there really is a market for toilet paper with George Bush's face on it – either George Bush. Personally I would buy it with Jimmy Carter's face on it. Maybe not, my butt has standards.
Ted owned an average white guy small IT firm. It was really small – just him. He hoped to land some lucrative federal contracts. However, the federal government really doesn't award many contracts to average white guy small IT firms. To get these contracts as a small company, you have to prove some sort of historical discrimination or disadvantage. Ted thought for awhile. He was the stereotypical average forty year old white male on his second marriage with two rotten kids. To make matters worse, he paid his taxes on time, had no felony convictions, and gave money to his church. What government would possibly want to do business with a guy like this?
Ted knew of a Small Business Administration (SBA) program that allowed companies owned by women, racial minorities, and other oppressed groups to receive special preferences in bidding for federal contracts. He thought, “Hey, I'm married! This must be God telling me why I got married. I couldn't figure out why otherwise.” Ted had the brilliant idea to make his wife, Cindy, the 51% owner of his company.
The SBA isn't completely made up of morons, idiots, and ne'er do wells. Ted's idea wasn't exactly original. In fact, thousands of average white males have thought of this trick before, and the SBA has attempted to enforce rules against sham ownership to qualify for set aside programs. However, since the SBA is made up of bureaucrats, who spend most of their time before congress shilling for more money, this scam works pretty much 100% of the time. Nonetheless, women-owned businesses are supposed to be run by qualified women.
Here were Cindy's qualifications for running a small average white guy IT firm. She had spent her five years with Ted doing the laundry, cooking poorly (according to Ted),and wiping the noses of snot-nosed little spawn of Satan. Actually, that last part really is a good qualification to run an IT firm. It pretty much describes the IT work force of the twenty first century. So you think I'm being harsh? Have you ever wondered why Windows crashes so often? In fact, it just auto rebooted on me during the previous paragraph. I rest my case. Children of God wouldn't have created Windows. No, they didn't create the Mac either. The developers of Windows are snot-nosed spawn of Satan billionaires. No I am not envious – as I drive my Kia down to the Smart Shopper to purchase generic gruel for my family. Really.
Ted went to his attorney and signed over fifty-one percent of the stock in his S corporation to Cindy. Ted went off to secure a few really nice federal contracts and hired twenty little spawn of Satan programmers to service the contracts. Cindy, now president of “her” company, continued ruining laundry, embarrassing the culinary world, and wiping snotty noses.
Life was wonderful for a couple years and Ted was able to pay Cindy and himself six figure annual salaries with generous pension contributions. However, heaven apparently can't last forever. Maybe Ted was tired of ruined laundry and dog food meals. Maybe Cindy caught him tongue dancing and doing the horizontal bop with her best friend. I was just the CPA. Who am I to judge? In any event, they decided to split.
Actually Cindy decided to split. As president of the company, she ran down to the closest bank branch, walked right up to a teller's window, and demanded to close the company's accounts. She wanted the $300K in the accounts on a cashier's check made out to her personally. Of course, we have all been to bank branches. The tellers have less authority in most banks than the janitors. The teller sent her over to the branch manager, who excused herself and called Ted. The game was on. Cindy didn't get the money. The branch manager told her she needed to have a resolution from the company's board of directors authorizing her to close the accounts. This was about half true, but it stopped Cindy from getting the money.
Divorce lawyers were summoned, and the real fight began. Cindy claimed that she owned 51% of the company and she was firing Ted. Ted claimed the ownership transfer was a sham. Yes, he really did argue that he had committed fraud with the SBA regarding the woman-owned business classification. I don't believe that Cindy actually wanted to fire Ted and own the company. What would she have done with it? By the time of the divorce, the company's major government contract had expired and was not renewed. There really wasn't anything left to own at that point. I suspect she just intended to use her majority ownership share to get more of the remaining money. Ted and Cindy reached a property settlement and divorced. Ted kept the company – what was left of it. The moral to this story is clear. If you make your spouse an owner, you have a problem if you get divorced. Since about half of all marriages end in divorce, consider yourself hereby warned.
Women Entrepreneurs Radio™ with Chris-Tia Donaldson
Chris-Tia Donaldson is a Harvard graduate with a true passion for hair. By day, Chris-Tia is a successful lawyer for a software company. By night, she is a freelance writer and entrepreneur looking to launch her own natural lifestyle and wellness brand featuring an array of products from cosmetics to personal care items and household essentials.
Chris-Tia graduated cum laude with a bachelor’s degree in Economics from Harvard College and earned her juris doctorate from Harvard Law School. At this juncture, she is balancing the full time demands of her job as a corporate lawyer at the world’s largest global software/database company with the daily rigors of running a start up in one of the toughest economies since the Great Depression. Chris-Tia is also the author of the highly acclaimed and best selling publication, Thank God I’m Natural: The Ultimate Guide to Caring for and Maintaining Natural Hair, which chronicles her experiences working in corporate America with a kinky mane. Thank God I’m Natural has reached the status as #1 hair book on Amazon.com and is changing black women’s lives from Chicago, Illinois to Pretoria, South Africa.
Chris-Tia is an expert in a number of topics related to launching a start up, including but not limited to financing your business, creating and marketing your brand, leveraging social media to grow your customer base, gaining media coverage for your product/business, among many other topics. She can also address the operational aspects of being an entrepreneur (e.g. legal issues that can sink your start up, outperforming you competitors, keeping pace with technology, beta testing/1.0/2.0, goal-setting, prioritizing, dealing with limited resources, etc.) As the founder and President of the Harvard Black Alumni Society (2002 – 2010), she is also an expert in issues related to starting and running a not for profit organization. Finally, Chris-Tia can speak to the challenges and benefits of self-publishing, an ever growing industry due to the increasing availability of print on demand technology.
Ms. Donaldson has been featured in USA Today, Essence Magazine, the Chicago Tribune, the Chicago Sun Times, the Detroit News, the Boston Bay State Banner, as well as many other national publications for her views on black women, beauty standards in the workplace, health and self-esteem. She has also been featured as a commentator on ABCNews Chicago, WGN-9 Chicago News and Fox Chicago News. A link to the segments can be found at http://thankgodimnatural.wordpress.com/2006/10/.
http://thankgodimnatural.com/
8:00 pm EDT
Listen to the live or archived show at:
http://www.blogtalkradio.com/CoachDeb
Tuesday, 9 November 2010
How to Pick the Best Funding for Your Start Up
Getting your startup off of the ground is not always easy to do. Not only do you have to face the rigors of simply being in business, you also have to find all of the money you will need in order to accomplish tasks which will make growth possible. You need to buy equipment and supplies for your office as well, including copier machines and other office equipment.
Finding the right investors for your company is a very important part of the startup process. Doing so will enable you to work with people who know about the things you need. Funding will also help you to buy all of the digital copiers and office equipment you will need to get your business running.
There are a few things to keep in mind when looking for the right investor for your business. You want to find an investor with experience working with companies in your field. It is important the investor is used to investing the kind of money you will need for your startup. It is also important that the investor has a proven track record for working with businesses which are successful.
Working in your field
When you dreamed up what your startup would be, there was a certain niche which you were looking to fill. A good investor for your company will understand what it is you do. It is important they understand what you do so you will not have to explain every step of the process as you grow. Additionally, investors who are used to working with companies in your industry might have some input for you as to what will help your company be more successful. Simply look at the past investments the investor has made to see how often they invest in your industry. Many will invest exclusively in one kind of industry.
Investing on your level
There are many different kinds of investors these days. The different kinds of investors are indicative of the different amounts of money in which they are used to investing. From the lowest investment amounts to the most are angels, super-angels, micro-VCs, VC, growth investors and equity groups. The difference is while angels might invest only a few thousand, VCs invest a few million and equity groups invest tens of millions. By using the right investor you will have a better chance the investor will not be scared about investing the amount you are looking to receive.
Track record for success
Hedging bets is very normal in the investing world. While it is important to work with those who are used to investing in your industry, if the investor has a bad history of investing in bad businesses there is a chance they can lead to the downfall of your company. While the failures are likely on the part of the company itself, it can often be due to the manner in which the investor interacts with them.
Resource Nation provides free tools, tips, and purchasing advice for business owners and entrepreneurs in over 100 business categories ranging from phone systems to credit card processing. Whether it's connecting businesses with local and national pre-screened vendors, or offering easy service comparisons on a VoIP service, Resource Nation empowers business decision makers by providing the information they need to make smart choices.
Monday, 8 November 2010
Women Entrepreneurs The Secrets of Success for Monday, November 8th
As a gifted international motivational and inspirational speaker, facilitator, and published author, Sue Falcone uses her unique presentation of humor and energy to touch lives and change hearts.
Skilled as a former AT&T and Lucent Technologies Executive, and Direct Sales Business Owner, Sue is a Dale Carnegie Speaker and Trainer graduate, certified from the Zig Ziglar Leadership Training Group, and a Bob Pike Creative Training Techniques graduate.
As a speaker for more than forty years with a vast background in communications, sales and marketing, customer service, financial counseling, time management, writing, and personal spiritual growth; Sue is available for Business Workshops/Seminars, as a Keynote Speaker, Women's Groups, Retreats, and Large Church Groups.
Sue is married to Carmen, and together they have a blended family of 4 awesome children, and 6 fabulous grandchildren. She loves the beach, walking, music, climbing lighthouses, reading, and helping others.
Visit Sue at www.simplysuespeaks.com and see additional testimonials, speaking topics, and booking information. You can view Sue on www.youtube.com/simplysuespeaks, follow her on www.twitter.com/suefalcone, join her fan page at www.facebook.com/SimplySue Speaks, and see her recommendations and fee schedule at www.linkedin.com/simplysue.
8:00 pm EDT
Listen to the live or archived show at:
http://www.blogtalkradio.com/CoachDeb
Saturday, 6 November 2010
Lessons from an experienced entrepreneur
My SCORE colleague, Irwin Miller, spoke at a luncheon some time ago about his long and very successful career in the pharmaceutical business in Houston. He spoke about his struggles to get started and the difficulties and many successes along the way. He concluded by identifying several key lessons based on his experience in running a successful small business.
• Hire good people. Effectively managing people is, of course, very important in running small businesses but it all starts by hiring trustworthy, hardworking, and capable people in the first place. If you don’t, you’ll spend more time doing their job than doing yours.
• Constantly improve. Irwin says, “If it’s not broken, fix it.” If it works today, it may not work tomorrow because the environment is always changing. You need the attitude that whatever is done today, can always be done better.
• Always innovate. Finding new ways of doing things is the best way to beat competition. The market rewards those who are the first to produce a new and valuable product or service.
• Put the customer first. Business starts and ends with your customers. If they feel they are your first priority they will keep coming back. Understand their needs and do everything you can to satisfy them. Satisfied customers are your most effective marketing tool and often are the best source of information for improving your business. So, ask them what you can do better.
• Take care of internal customers. Internal customers are your employees, suppliers, and service providers who are indispensable to operating a profitable business. Treat them well and they’ll spend that little extra effort to get the job done well and help you through difficult situations.
• Always keep commitments. Never let anybody down even if you have to eat some additional expense or spend some extra time to do what you promised. Your word must be golden and is essential to building a good, long-term reputation.
• Work hard. Most small businesses require a tremendous effort by the owners especially in the early going. You’ve got to attend to all the little details. Running a small business is not for the faint of heart. There will be many bumps along the road but you need to keep plowing through to succeed.
Other successful business men or women may have other key points but they won’t be too dissimilar to Irwin’s.
• Hire good people. Effectively managing people is, of course, very important in running small businesses but it all starts by hiring trustworthy, hardworking, and capable people in the first place. If you don’t, you’ll spend more time doing their job than doing yours.
• Constantly improve. Irwin says, “If it’s not broken, fix it.” If it works today, it may not work tomorrow because the environment is always changing. You need the attitude that whatever is done today, can always be done better.
• Always innovate. Finding new ways of doing things is the best way to beat competition. The market rewards those who are the first to produce a new and valuable product or service.
• Put the customer first. Business starts and ends with your customers. If they feel they are your first priority they will keep coming back. Understand their needs and do everything you can to satisfy them. Satisfied customers are your most effective marketing tool and often are the best source of information for improving your business. So, ask them what you can do better.
• Take care of internal customers. Internal customers are your employees, suppliers, and service providers who are indispensable to operating a profitable business. Treat them well and they’ll spend that little extra effort to get the job done well and help you through difficult situations.
• Always keep commitments. Never let anybody down even if you have to eat some additional expense or spend some extra time to do what you promised. Your word must be golden and is essential to building a good, long-term reputation.
• Work hard. Most small businesses require a tremendous effort by the owners especially in the early going. You’ve got to attend to all the little details. Running a small business is not for the faint of heart. There will be many bumps along the road but you need to keep plowing through to succeed.
Other successful business men or women may have other key points but they won’t be too dissimilar to Irwin’s.
Friday, 5 November 2010
This is Why You Resist Selling
©Tessa Stowe, Sales Conversation, 2010
Are you having fun selling? Are you enjoying it - or do you dread or resist it? If you aren't having fun selling, then I have a hunch that you think selling is all about persuading and convincing people to buy something they may or may not want or need.
If that is what you think selling is about, then it will automatically and naturally create huge resistance and tension on your side as it is simply not in one's nature to try to persuade or convince people. You don't want people to think of you as someone who acts in this way as it makes you feel like a phony. You feel you can't act with integrity using this type of sales approach. So it's fairly easy to convince yourself not to sell at all - or if you do, then you only do it half heartedly.
If you think selling is about persuading and convincing, you'll be asking yourself "How can I do that?" You'll be thinking that there is a lot to learn. You'll believe that you have to master a lot of techniques like how to overcome objections and how to "close." You'll be thinking that you better put off selling until you've practiced all these techniques. But actually you don't really want to use these techniques - as you don't want to be a phony persuader or a convincer - so you put off learning these techniques as well.
If you think selling is about persuading and convincing, you'll also be expecting (and getting) a lot of rejection experience. You really don't like rejection, so it's much easier to simply avoid or minimize doing the thing that is causing it. Therefore, you minimize and avoid selling - problem solved!
So what is the solution? How can you easily and quickly go from resisting selling to actually enjoying it, and as a consequence, make a lot more profitable sales? The solution is quick and easy. Ready? Simply change your definition of selling. Instead of persuading and convincing, define selling as helping people get what they want.
If you believe selling is about helping people get what they want, there will be no resistance on your side as you enjoy that. You like it when people think of you as someone that will help them get what they want. When you are helping people like this, you are acting with integrity as the "real you", and it makes you feel good.
If you think selling is about helping people get what they want, then you'll naturally know how to do that. You'll know that first, you need to find out what they want. If you can help them, then you show them how you can help them. Finally you give them the choice of whether they would like your help or not. Some will and some won't. All of this can be the result of a normal comfortable conversation - which you know how to have.
If you think selling is about helping people get what they want, then you know that not everyone will want your help at this point in time. Maybe in the future they will. Even if they need your help now, it is their choice to decide if they want you to help them. Your role is to simply help them make the best possible decision for them. With this view, there is no rejection because it's not about you. It's simply about them making a decision that is best for them.
Can you feel your resistance to selling go away when you think about selling as helping people get what they want? There is a great sense of fulfillment when you can help someone else get what they want. You'll enjoy sales more with this approach and you'll also make a lot more profitable sales!
Tessa Stowe teaches small business owners and recovering salespeople simple steps to turn conversations into clients without being sales-y or pushy. Her FREE monthly Sales Conversation newsletter is full of tips on how to sell your services by just being yourself. Sign up now at www.salesconversation.com.
Monday, 1 November 2010
Follow Your Dreams - Are You Sure You Are Ready to Own a Business?
This week's post is from Cathy Belch. Cathy is an accountant, who does a lot of work for us. At some point we hope to have her full time. Take it away Cathy.....
Being new to the world of blogging, this post is a first time effort for me. When Frank asked for a piece for the site, I had a moment of fear, followed by curiosity. I had heard of such things, but after I have spent my day; as any good accountant should, in front of the computer, I admit I am not drawn to idle scanning on the internet once finished and home. But, I do know a good subject to comment on for the site. And if I could impart a bit of wisdom it would be to send each new entrepreneur a dose of realism.
As you begin a venture into business ownership you inherently put on glasses with rose colored lenses. You think this new world will open up to you that is merry and bright. Nor more boss making unreasonable demands, or punching the clock. Vicious politics no more! In the distance you can see the dollars signs on the horizon, the sound of “FORE” or “Tally Ho” echo in your mind. Perhaps you envision a beautiful, windowed corner office with you secretary bringing you the morning tea and crumpets. But, okay, let me hold onto your glasses and we will sip our realism and discuss why, or more importantly, why not, start your new enterprise.
The statistics may help in realizing the advise is not meant to stifle your enthusiasm, but direct you in reaching your goal successfully. The latest postings found on the internet sites currently show on average 33% of all new businesses fail within the first six months. Fifty percent of new businesses fail within their first two years of operation and 75% fail within the first three years. This is an improvement over historical figures commonly believed to be that 50 percent of businesses fail in the first year and 95 percent fail within five years. Most sources reflect numbers from sources such as Dunn and Bradstreet or the SBA.
Now that you are forming the word “But”, let’s talk details and help you with the first job at hand. Which is, how to decide whether or not to move forward with your idea. Are you truly good at the work you will be doing in your new venture? Ask for input from colleagues, friends and family. If the answer is not a definite YES!; don’t lose your dream. Form a plan for improving your skills or knowledge while you are still working at your current job or situation. You may even be able to gain financial assistance from your current employer while moving closer to your dream. If you are good, or even better, if you excel at your work, is there a real demand right now? Timing is everything. If you are still answering yes; then the next step is commitment. Put your ideas onto paper and form a good business plan. Talk to other successful business owners to gain insight to their success. Talk to those not as successful to learn what they think may have been the reason for their venture to have failed.
Select owners in markets outside of what will be your new market. You won’t be a potential competitor that way and the advice may flow more freely. If you can persuade a local owner, all the better, just be aware that an unknown source may steer you in the wrong direction to decrease the chance of competition from you. I have gained a lot of great advice this way. Listen to all the advice, sift through it with family and friends. Those that know you and your personality will often have great ideas and different ways of processing information. This is great practice when you are in business for yourself. You will have to be able to manage others, be it employees, business partner, vendors or hopefully lot of customers. All with the desire to tell you how to run your new venture. Get used to it now.
Now that you have some ideas on paper, you are ready to move into the next phase, which is preparing a business plan for the first 3 years. Set up a realistic budget for start up, purchases of inventory, and /or supplies. Then move into estimating how the sales and expense will work. Ask your friendly S&K partner or current CPA to review it. This brings us to financing. How will you fund your new entity? And more importantly, how will you pay it back? How will you survive financially while your business is being established? Be prepared to personally guarantee loans, and vendor purchases until you are an established creditor.
My last and hardest question, do you really have the right personality? Guess who all the problem customers, and irate vendors are going to be calling? You! So if you are not able to manage more than just the work, then how, and whom will take on dealing with these issues? I have seen many people who basically do not like to deal with conflict and problems, start a business that puts them dealing directly with the public. You may like sewing, and be the best seamstress in the world, but if you are not great with people, then you will need someone to handle that side of things for you. A good office manager and accountant that you are comfortable with and trust can be the key to your success. Remember, if you contemplate involving family members, you can remove a non family member, without having to worry about how to handle the Thanksgiving dinner staring over the turkey at them.
My last bit of advice is work hard and play hard. Be willing, and able, to devote a lot of time and long hours to your venture until it is established. You are the new Advertising and Marketing Department. Before you even begin your business you are the business. Keep business cards with you all the time, and network to build your relationships. Don’t drive your car around town running errands, with last week’s road rally mud all over it, if you are starting a car detailing business. You never get a second chance to make a first impression. And who knows, even an internet date might lead to a new client even if the dating side does not turn into a new romance. So, that is your does or realism for today.
Being new to the world of blogging, this post is a first time effort for me. When Frank asked for a piece for the site, I had a moment of fear, followed by curiosity. I had heard of such things, but after I have spent my day; as any good accountant should, in front of the computer, I admit I am not drawn to idle scanning on the internet once finished and home. But, I do know a good subject to comment on for the site. And if I could impart a bit of wisdom it would be to send each new entrepreneur a dose of realism.
As you begin a venture into business ownership you inherently put on glasses with rose colored lenses. You think this new world will open up to you that is merry and bright. Nor more boss making unreasonable demands, or punching the clock. Vicious politics no more! In the distance you can see the dollars signs on the horizon, the sound of “FORE” or “Tally Ho” echo in your mind. Perhaps you envision a beautiful, windowed corner office with you secretary bringing you the morning tea and crumpets. But, okay, let me hold onto your glasses and we will sip our realism and discuss why, or more importantly, why not, start your new enterprise.
The statistics may help in realizing the advise is not meant to stifle your enthusiasm, but direct you in reaching your goal successfully. The latest postings found on the internet sites currently show on average 33% of all new businesses fail within the first six months. Fifty percent of new businesses fail within their first two years of operation and 75% fail within the first three years. This is an improvement over historical figures commonly believed to be that 50 percent of businesses fail in the first year and 95 percent fail within five years. Most sources reflect numbers from sources such as Dunn and Bradstreet or the SBA.
Now that you are forming the word “But”, let’s talk details and help you with the first job at hand. Which is, how to decide whether or not to move forward with your idea. Are you truly good at the work you will be doing in your new venture? Ask for input from colleagues, friends and family. If the answer is not a definite YES!; don’t lose your dream. Form a plan for improving your skills or knowledge while you are still working at your current job or situation. You may even be able to gain financial assistance from your current employer while moving closer to your dream. If you are good, or even better, if you excel at your work, is there a real demand right now? Timing is everything. If you are still answering yes; then the next step is commitment. Put your ideas onto paper and form a good business plan. Talk to other successful business owners to gain insight to their success. Talk to those not as successful to learn what they think may have been the reason for their venture to have failed.
Select owners in markets outside of what will be your new market. You won’t be a potential competitor that way and the advice may flow more freely. If you can persuade a local owner, all the better, just be aware that an unknown source may steer you in the wrong direction to decrease the chance of competition from you. I have gained a lot of great advice this way. Listen to all the advice, sift through it with family and friends. Those that know you and your personality will often have great ideas and different ways of processing information. This is great practice when you are in business for yourself. You will have to be able to manage others, be it employees, business partner, vendors or hopefully lot of customers. All with the desire to tell you how to run your new venture. Get used to it now.
Now that you have some ideas on paper, you are ready to move into the next phase, which is preparing a business plan for the first 3 years. Set up a realistic budget for start up, purchases of inventory, and /or supplies. Then move into estimating how the sales and expense will work. Ask your friendly S&K partner or current CPA to review it. This brings us to financing. How will you fund your new entity? And more importantly, how will you pay it back? How will you survive financially while your business is being established? Be prepared to personally guarantee loans, and vendor purchases until you are an established creditor.
My last and hardest question, do you really have the right personality? Guess who all the problem customers, and irate vendors are going to be calling? You! So if you are not able to manage more than just the work, then how, and whom will take on dealing with these issues? I have seen many people who basically do not like to deal with conflict and problems, start a business that puts them dealing directly with the public. You may like sewing, and be the best seamstress in the world, but if you are not great with people, then you will need someone to handle that side of things for you. A good office manager and accountant that you are comfortable with and trust can be the key to your success. Remember, if you contemplate involving family members, you can remove a non family member, without having to worry about how to handle the Thanksgiving dinner staring over the turkey at them.
My last bit of advice is work hard and play hard. Be willing, and able, to devote a lot of time and long hours to your venture until it is established. You are the new Advertising and Marketing Department. Before you even begin your business you are the business. Keep business cards with you all the time, and network to build your relationships. Don’t drive your car around town running errands, with last week’s road rally mud all over it, if you are starting a car detailing business. You never get a second chance to make a first impression. And who knows, even an internet date might lead to a new client even if the dating side does not turn into a new romance. So, that is your does or realism for today.
Using Pain or Pleasure in Your Marketing
About 3 years ago, I was driving around running errands, and I tuned into a local radio station that was hosting a radio-thon to raise money for St. Jude’s Children’s Research Hospital. When the DJ said, “Think about what your healthy child is doing right now, playing, having a snack, whatever… and then think of the kids at St. Jude” – well, I couldn’t pull over fast enough to whip out my wallet and cell phone.
Now, like you, I get a lot of solicitations either in the mail or even via email. Most of those get dumped in the trash or deleted. But what was different about this time? I mean, I literally stopped what I was doing (driving!) to pull over, take out my credit card, call the number, and make my contribution.
So, what made me not even hesitate? It was that deep FEELING of empathy for those kids and their parents, as well as an overwhelming FEELING of gratefulness for my own healthy child.
You see, as humans, we tend to seek pleasure and avoid pain. And you may be surprised to learn that we actually will do more to avoid pain than we will to gain pleasure.
What that DJ said really got to me – it was incredibly painful for me to think of my own little girl ever being that sick. In order to avoid feeling that pain, I became a Partner in Hope and now make monthly and annual contributions to St. Jude’s directly from the proceeds of my business.
The same holds true in your marketing. If you can touch upon your target market’s pain, address what it is that they are most struggling with, and offer the solution to them – well, it’s a winning formula every time.
When you’re writing your sales pages, you want to state what problem your reader is struggling with and how your offering can solve it, right at the beginning.
One effective way of introducing your solution is by asking a question of your reader around what it’s like to struggle with the problem your offering solves. If you can relate to your reader’s frustration, pain, struggle, or challenge, you’ll immediately establish a connection and they will want to know more about how you can solve their issue for them.
Touching on your prospect’s pain and offering them relief by way of your solution is not manipulative. It’s direct, honest and open. Your reader is at your website because they are looking for a solution. If you want to help them, then the only way to do that is to tell them that you understand their pain and that you offer the solution.
So, think about your market. Are they more likely to seek out your services or your products because they want to gain pleasure? Or is it because they want to solve their most pressing problems? Then weave your answer into your marketing messages.
Alicia M Forest, MBA, 6-Figure Business Breakthrough Mentor, teaches entrepreneurs how to attract more clients, create profit-making products and services, make more sales, and ultimately live the life they desire and deserve. For FREE tips on how to breakthrough to 6 figures and beyond so you can live the life you ache for, visit http://aliciaforest.com
Subscribe to:
Posts (Atom)