Don't Worry...Be Happy

Happiness, in a wide array of forms, is one of the most frequently promoted self improvement subjects today. There are extensive books and newspaper articles to read, blogs to subscribe to, workshops to attend, and television shows to a help you: a) assess your level of ‘happiness’ and, b) address whatever roadblocks stand in the way of being ‘happier’. Gretchen Rubin published ‘The Happiness Project’ in 2009 and western society has been struggling to achieve elusive ‘happiness’ ever since.

There is no doubt that achieving a greater degree of happiness is a worthwhile goal but the constellation of resources now available to address the opportunity is overwhelming. The happiness pool is a kilometer wide and a centimeter deep. The result is, of course, that most people choose not to use anything that is sustainably effective.

Can anything be done? Of course!

Happiness, like many emotions, means something unique to each person….which is why most ‘solutions’ don’t work. The place to start is developing a self awareness of what happiness means for you and whether you need to do anything about it. The unrealized potential in ones own happiness then informs the type(s) of tools that might work best.

Managing happiness – whatever that means for you – needs to a life’s work, so whatever you do, needs to be incorporated into all the things that fill you existence.

One of the areas a coach can be most effective is helping you create a foundation from which to bring more happiness into your life.

The 5 Simple Actions to More Revenue This Year

If you own an accounting, financial planning, HVAC, sign, construction, graphic design, landscaping, consulting, attorney, insurance, catering, massage, photography, insert-almost-any-type-of-business here, this is written for you. 

This process (borrowed from the highly successful businesses I have met) will grow your business in 2016.  Not overnight, but it will build a foundation that, if repeated regularly, will give you more work than you can handle.

     1.    Send a monthly newsletter (yes, I’m partial, but it works) – Just a few effective tips, pretty pictures, and a call to action can make an effective monthly newsletter.  The idea is drive people back to your site and learn more about how you can help them.  And if you are using an email service, you will know who is engaging with your newsletter and you can follow up with them later.

     2.    Use Social Media – The same content in the newsletter can be used in your social media platform of choice.  Additionally, you should take the time to interact with others and use social media to be, well…social.  This helps you continue to build brand recognition and identify people and follow up with them later.

     3.    Networking– Attend at least 2-3 networking events per month.  Make sure to collect at least 3 business cards from people that you can help and follow up with them later.

     4.    Coffee or Lunch – This is the “following up with them later” part.  When you have a coffee or lunch date, make sure to be the one that listens and finds a way to help that person, even if it is not with the service you normally provide.  

     5.    FOLLOW UP the FOLLOW UP! – This is the biggest miss by most entrepreneurs.  They may make great contacts, but then don’t follow up.   At all.  They assume that the other party isn’t interested because they didn’t buy immediately. 

The truth is that people are busy.  Too busy.  They are thinking about themselves and not you.  It is up to you to follow up.  And in most cases it will take 7-12 times before they make a buying decision.  Use hand-written notes, emails, phone calls, gifts, and your newsletter to follow up.

Add these activities to your calendar and treat them like a doctor’s appointment.  You would not let a phone call or an urgent email prevent you from your annual physical or getting your back adjusted when you are in pain. 

Small-business Q&A: First step is deciding what decision to make

Many of the decisions made as a small-business owner can be difficult and stressful. As you gain experience making decisions, you'll be better able to tackle the inevitable choices that are more complex, or must be made quickly.
Here are some tips for making thoughtful, well-informed decisions:
Define clearly what the decision is that needs to be made. Is this really your decision or someone else's and do you really need to make a decision at all? If you do not have at least two options, you have no decision to make.
Brainstorm the alternatives. Draw on all available knowledge resources to learn as much as you can about the implications of each option. Identify contributing factors that potentially can be changed to improve a particular alternative, and those that must be accepted as they are.
Weigh costs versus benefits. The time-tested exercise of listing pros and cons on opposite sides of a piece of paper still works. Try to match up direct causes and effects as much as possible, but also consider intangible influences and outcomes.
Balance your information inputs. Seek out as many perspectives as possible, but remember that many opinions, even those of "experts," are subjective and potentially based on incomplete information. Also, avoid blindly accepting an opinion because it's exactly what you want to hear.
Trust your instincts. Intuition can be your ally, especially if what appears to be a good choice just doesn't feel right. Think about the reasons for the uncertainty and look for further evidence that counters or justifies your concern.
Recognize your limitations. We all have likes and dislikes that can bias our thinking in a certain direction. If you lean toward an alternative simply because "it's always worked," you may be overlooking something.
Divert your attention. Take a break from your decision-making and do something as unrelated as possible. The decision factors may not change in the interim, but a fresh look is sure to make a positive difference in how you evaluate them.
Just do it. Once you have made your decision, get moving on it. Don't agonize about "what ifs" or wonder what someone else might have done. If it turns out that another option was better, so be it. Learn from your mistakes and move on.

6 Foolproof Steps to Reach Your Goals

I remember meeting with one of my very first clients here at the TSBDC.   They owned a local restaurant (no longer in existence.)

Me: So, what is your goal for this year?
Restaurant Owner: Well…to be one of the best restaurants around, I guess. 

Me: Okay, but how much money do you want to make?
Restaurant Owner: You know, a lot. 

Me: Alright, how will you know if you hit the goal?
Restaurant Owner: Well, I reckon if I have money in my account and happy customers, I hit it. 

Me: Hmmm…do you want to write down some specific goals, steps, and measures for that?
Restaurant Owner:  Nah, I have a gut feeling for these things.  Hey, but thanks anyways. 

I swear, they almost patted me on the head like I was a child trying to tie my shoes. 

So why do we need goals?  Goals give you focus, energy, persistence, and make you successful. 

They also need to be written down and visible.  Unfortunately, only 2% of people have written goals and those with written goals are twice as successful, than those without written goals. 

These 6 steps make reaching your goals possible. 

1.  What - What is the goal?  Is it specific?  Is it realistic?  Can it be measured? If not, pick a new goal.

2.  Who – Who on your team is responsible for meeting this goal?  Who will you surround yourself with to meet this goal?  Who are you going to share your goal with that will hold you accountable?

3.  When – When is the deadline?  Sometime this year is not a “when.”  Give it a date.

4.  Where – Where will it be measured?  Is it the profit-n-loss statement, balance sheet, number of customers, number of leads, number of employees, etc.

5.  How – How are you going to reach the goal?  Are there specific steps that you can lay out that will lead you to your goal?   There better be.  Otherwise, that would be like taking a trip to an unknown destination with no GPS.

And most importantly…

6.  Why – Why does this goal matter?  Will it change your business?  Will it change your life?  Will it make you happy?  If you don’t know the answer, start again with Step 1.

And if you need help in setting your business goals for 2016, contact the TSBDC.

Small-business Q&A: Federal agency can help with loans

Starting or expanding a small business takes time, hard work and money. Depending on your type of business and present financial situation, you may need to reach to outside sources for funding. 

One resource you can turn to for assistance in obtaining a loan to start or grow your business is the U.S. Small Business Administration. While the SBA does not directly lend money to small businesses, it can facilitate loans with third-party lenders. Various banks, credit unions, community development organizations and micro lending institutions throughout the U.S. partner with the SBA to provide funding to small businesses without access to other financing options, with reasonable terms.

The agency sets specific guidelines for loans, which are made by its partners, and it guarantees that they'll be repaid by the borrowers. This benefits small business owners by giving them access to much-needed funding, and it eliminates some of the risk to the lending partners.

Points in favor

Among the advantages of SBA loans over conventional loans are lower down payments and longer repayment terms. To qualify for an SBA loan, your business must meet certain criteria regarding business size, financial standing, and others. You must also meet the credit qualifications of the lender.

The SBA 7(a) loan program arranges for loans that may be used to establish a new business or to assist in the acquisition, operation or expansion of an existing business. These loans can be used for various purposes, such as, satisfying short-term or long-term working capital needs; purchasing equipment, machinery and supplies; buying real estate; refinancing existing debt; and more.

The SBA Microloan program provides loans up to $50,000 to help businesses with lower dollar financing needs. You can use microloans for working capital and purchasing inventory, supplies, furniture, equipment, machinery, etc.

For information about SBA loan programs, visit www.sba.gov/loanprograms.

Seminar ahead

Also, learn more about SBA financing by attending the seminar "Business Plans to Launch and Grow & Funding to Make It So," hosted by the Houston Community College and SCORE. This seminar will be held 12:30-3:30 p.m. Jan. 15 at the HCC-Spring Branch campus.

The following senior officials will speak: Tim Jeffcoat, director, SBA Houston District; Nasrullah Khan, chief lending officer of Wallis State Bank, a leading SBA lender; Richard Gianni, regional vice president of LiftFund, a micro lender; and Jeff Jones, president of Advanced Business Brokers and SCORE volunteer.

To learn more about this seminar and register, visit www.houston.score.org/local workshops.

Business plans are worth the work

A business plan is not only important for starting your business, it's also an indispensable tool for helping you manage and grow your business.

Your business plan is your road map for operating your company, and it's essential if you intend to seek funding from outside sources.

A plan spells out specific details related to your business concept, marketplace, and financials. The length of your business plan can depend on the complexity and scale of your business. Even short one-page business plans have purpose and can affect success.





If you are intimidated by the thought of writing, know that the benefits are well worth the effort. The value of a business plan isn't so much in the document you create, but the discovery process you embark upon to create it. As you work on the plan, you answer key questions about your business that you may not otherwise have considered. That can help you recognize risks and opportunities - and better position you for success.


There are several ways to make writing your business plan less intimidating. First, don't try to do it all at once. If you tackle it in smaller bits and pieces, the project will be more manageable.
Schedule time to work on it. You'll feel less stressed if you reserve time for it on your calendar.




Get feedback along the way. As you work on the different sections of your business plan, ask a SCORE mentor or other unbiased business professional to review it and provide suggestions for improvement and clarity. SCORE mentors are experienced and provide free and confidential mentoring.


Even though writing a business plan will require effort, it doesn't have to be a harrowing experience. With a business plan, you'll be better able to move your business in the right direction from the start and navigate changes more easily in the future.

Crowdfunding - An Alterantive Source of Capital

Over the last several years crowdfunding has become an increasingly popular option for both entrepreneurs and investors trying to raise capital—and public awareness—when launching or growing a small business.

Rather than approaching a single lender to make a significant loan to your business (which you will most likely need to personally guaranty), crowdfunding platforms give you a way to leverage your network of friends, family, social media connections, and the public at large to obtain significant capital in small increments.

It’s a collective online effort that can expand your professional network and introduce your business to potential customers. 

Crowdfunding for businesses presently comes in three primary forms:

·         Rewards-based crowdfunding (such as via Kickstarter and Indiegogo)

·         Equity crowdfunding (such as via CircleUp)

·         Peer-to-peer lending (such as via Lending Club)

With rewards-based crowdfunding, you are only promising your backers some sort of token incentive and the risks are more limited. Whereas with equity crowdfunding, you are giving up equity and the risks can be substantial. With peer-to-peer lending, the business is taking on debt that it is legally obligated to pay back.

Equity crowdfunding and peer-to-peer lending are governed by a complicated web of federal and state securities laws, while rewards-based crowdfunding is generally exempt from those laws.

According to SCORE mentor and Houston entrepreneur Nick Tarte, rewards-based crowdfunding has rapidly become an accepted way to raise capital for small businesses.

“Traditionally, companies raised capital by issuing debt or equity,” says Tarte. “Rewards-based crowdfunding introduced a completely new alternative. The model has shown that the public is willing to contribute capital to worthy projects without any expectation of future profit, which is quite revolutionary.” But be sure to pick the right platform for your rewards-based campaign. Remember, crowdfunding is a form of marketing, and you want to be where your customers are.

Tarte advises to make sure you follow through on your promises. Watchdog groups and state and federal consumer protection bureaus have begun to shift their attention to deceptive crowdfunding campaigns.

Don’t forget about taxes. Proceeds raised from rewards-based crowdfunding campaigns are usually treated as taxable income to the business. For this reason, Tarte advises businesses to consult with their tax advisors before embarking on a crowdfunding campaign.

Nick Tarte will present the details of this increasingly popular but often misunderstood funding option at the SCORE workshop “Crowdfunding – An Alternative Source of Funding” on December 5. To learn more and register for this workshop, go to www.houston.score.org/localworkshops.

____________________________________________________________________________ SCORE is a nonprofit association whose volunteers help start and improve small businesses. Send questions or volunteer inquiries to scorehouston@gmail.com.