Showing posts with label entrepreneur. Show all posts
Showing posts with label entrepreneur. Show all posts

Tuesday, October 19, 2010

Branding, Publicity and Marketing Success Secrets

Discover the secrets to career and business success using publicity outreach for branding and marketing. Find out how to showcase your credentials, experience, wisdom and expertise using publicity success principles and strategy.

By Annie Jennings

Is there a secret to success? Is there more than one? Yes! Let’s find out what successful people, consultants and business pros believe and do that helps them achieve their optimal potential. What is it that they have in common, whether it’s in their beliefs or in their actions that makes them successful?

First of all they use resources available to them including publicity, self-promotion, branding and marketing to create their outstanding advantage in the marketplace. The rest comes naturally. The major opportunities go to the ones who are visible, making a difference, seen and heard by their target market.

Successful people know that they have to take responsibility and follow it up by taking action. You set you own limits.  You are defined by the intensity of your commitment and the depths of your knowledge. In other words, commitment without knowledge can equal frustration and limit your potential. The idea is to add the right knowledge to your ambition so you can climb the ladder for yourself.

Those who make it big believe certain things and do certain things to back up their beliefs. They are ready to invest in themselves. They believe that they are they best investment. Successful people create a business model that meets the demands of their target market. Successful people are ready for action, they are committed and they are willing to go for it with gusto.

Showcase your knowledge. Showcase your talent using media outreach. Your clients will love seeing you out there in the media sharing what you know and commenting on the issues. They enjoy hiring a tried and true professional who understands how to deliver the specific outcome. By doing publicity, marketing and promotion, you let your clients get an idea of your knowledge, wisdom and experience. You client will want to hire you. Clients want certainty. They want to hire the best. In the end, your clients want to buy outcomes and are happy to pay for your services if you are able to define the return on investment and clearly state how your services can help your clients.

Content is critical when showcasing yourself and your knowledge. The media is your opportunity to shine.  Do an outstanding job, pack your commentary with valuable content and share your wisdom and experience in all of your marketing materials including your email newsletters. Be sure your website helps you educate your visitors and your clients.

Success is in your own hands. Taking responsibility for both the successes and failures empowers you to make the changes necessary to turn the situation around or to expand on your success.  If you feel powerless in both the good and the bad, you will get stuck in your thinking and in your progress.

Have a terrific attitude. Commit to proven publicity, branding and marketing strategies. Do not fight success the whole way. Be optimistic. Success will come easily to you and it will seem as if everything you do has a terrific outcome. Have confidence in yourself. Go with your gut, your intuition and your instincts when making choices. Be high energy. Be ready for success & take action. P.S. Don’t stop until you get enough success!

Wednesday, September 29, 2010

Is Your Business At The Bottom Of Your To-Do-List?

Solo professionals fail in business because of one of three things. The first is lack of clarity and focus about what they do, how it benefits others, and how much time they must invest to create a business that both serves others and makes a profit. In this article, Sue discusses what happens when your business is at the bottom of your to-do list.

By Sue Painter

If you are a female solo professional, chances are that your business is not making as much money as you’d like it to. Perhaps when you got the thought to go out on your own you held a vision of more flexibility, a freer schedule, and making at least as much money as you were making working for someone else. Perhaps you even secretly thought that you had the chance to make it big, pulling in much more money, paying off your mortgage, easily paying for a child’s college education.

Let me ask you.....where is your business now, compared to that vision? Where is it compared to your secret thought? Have you given up on that dream?

I read a story about makeovers in a recent edition of O magazine that made me think about how women so often put their business at the bottom of their to-do list. We do it to ourselves and our businesses, actually. We think we’re being unselfish and giving, taking care of others before ourselves. But are we, really? Listen to one comment from the O makeover article:

“With the new looks came a new attitude. What a makeover does for all of us is point out that there are BIG possibilities for us all. Maybe we’ll get the idea that from a makeover, we can take another step toward change in other areas of our lives.”

Lack of attention to one’s self is no way to teach our children to stand up and be counted, is it? Making sure that everyone else has new clothes while we schlep around in last year’s sweats only makes us both look and feel at the bottom of the barrel. Paying for private lessons for our children while refusing to spend the money to take a workshop for ourselves sells ourselves and our business short.

Think about it. If you fail to give yourself and your business the nurturing you both deserve, you send a silent message that you are not worth your own time and care, and that your business isn’t important enough to make a difference in anyone’s life. Is that the truth? I doubt it. But you are showing how little you believe you can make it really big when you continue to play safe and small. You are refusing to serve others with your business, in a way that only you can uniquely serve.

When you really tune in to your old business vision what does it look like? Have you lost your early enthusiasm? How can you get it back? And if you did, how much cleaner and better would you see the way to that secret vision you have? How much more freedom would you have to be with your friends and family? How much less worry over financial matters would you have? What kind of example would you set for family and friends and other entrepreneurs if you kick-started your business again and made it provide for you at a high level? It would be a powerful message, wouldn’t it?

That’s just not going to happen if you take care of everyone else’s current needs first. Take care of yourself and your business, so that you have the wealth needed to take care of those you love. You aren’t here to serve your family and friends everything on a platter. In fact, if you do, they will learn directly from you to lean on others rather than themselves. Is that what you want?

I heard a quote last week that really made me stop and think. “A strong focus now creates a different future later.” How do you focus now on your business, so that you can have that different future? Here are three ways:

* Change your lifestyle and your schedule around so that you are spending at least two hours every single day building your business. No excuses. You are in business for yourself, right? Two hours a day is a bare minimum. Otherwise, your business is nothing more than a hobby. You can work part time, but you can’t work no time. Two hours, minimum, every day.

* Create a calendar for the entire year. Plan in your vacation weeks, at least three long weekend retreat times for yourself to focus solely on your business, and time for learning what you don’t know but need to know in order to build your income. If you are running out of hours in the week, get help for the low-level stuff and keep your eye on the stuff that creates future income.

* Get a mentor or a coach. Virtually every single wealthy business owner works with someone who can pull them out of the weeds when they need it, give them perspective, and save them a lot of time in mastering new tasks. No excuses. Don’t tell yourself you can’t afford it, tell yourself the cost of doing without is much higher than what you’ll pay. Think return on investment, not cost. That’s how a business owner thinks, after all. Are you one, or not?

Sue Painter is a marketing therapist whose expertise is finding the dark and murky under-places that keep your business from succeeding. She develops business plans that work, and strategic marketing plans that take dead aim at your target market. You can subscribe to her Marketing Tips e-zine at http://www.confidentmarketer.com .

Tuesday, September 21, 2010

Pioneer Marketing For Small Business Owners

The hot new thing in big marketing these days is "relationship marketing." The truth is, that's not new at all. In this article, Sue talks about Pioneer Marketing and going back to business that is based on an immutable law of human nature.

By Sue Painter

When I was a kid living (briefly) in Oklahoma, one of my favorite times was the local “Pioneer Days.” Everyone dressed up in pioneer clothing, old Conestoga wagons were brought out of barns, and re-enactments of the early days of the town were carried out in the town square and at the fairgrounds. Everything was “old-timey“—the way it used to be. Some of the men would even grow their hair long and sport the old fashion handlebar mustache and side lamb chops.

I’m convinced that we are now in the pioneer days for marketing. If I’ve read one article about how push marketing doesn’t work anymore and that it is now all about building relationships with the consumer, I’ve read twenty. And every time I read one I shake my head and wonder why no one writes that this is back to marketing’s pioneer days. We now have “Pioneer Marketing.” It’s what our forebears did in every single city and town, and what the best and wisest businesses still do.

Pioneer Marketing (I think I just coined a new term) has one main tenet, and that tenet is infallible. It works every time because it is based on a law of human nature. What’s the law? “People respond positively and in a timely manner when they are treated with respect, courtesy, honesty, and in a way that has their best interests at heart.” That one law, rigidly adhered to, will win out every time. Your attention may be diverted by aggressive and shiny marketing for a while, but in the end you will go where that law of human nature is adhered to.

Simply put, our prospects and existing customers don’t want to be sold into a product or service that serves the seller and doesn’t serve the buyer. They are tired of push marketing coupled with shoddy goods and lacking customer service. And this is one huge reason that you, as an entrepreneur, have it over the big guys. The big guys have used push marketing, shoddy goods, and lacking customer service for so long that they are scrambling right now to turn huge, bloated, bureacratic businesses around to save their sales. Meanwhile, you and I can “float like a butterfly and sting like a bee,” meeting and forming relationships with our prospects, selling our expertise, servicing our customers, and making the transaction into a win-win rather than a win-lose. We have memorable and recognizable faces. Large, bloated businesses give you a new and usually non-caring face every time you walk in their door or buy from them online.

Family-owned businesses, solo professionals, and entrepreneurs can step up and capture market share right now. Most of us have a familiar face to our prospects and customers. Many of the big guys don’t, and now that they realize that, they are all about “relationship marketing,” thinking they have discovered a whole new world. It isn’t a whole new world at all, it’s the world that many small business owners never left, the one that our pioneer forebears lived in. Everyone knew the business owners up and down the street and how they treated customers. Everyone knew who to avoid and who to buy from. Business was good or bad depending on the business owner’s savvy and her ability to form and keep relationships. Reputation was everything, and was based on something real, not something manipulated by copious marketing.

People respond to Pioneer Marketing because it is in our human nature. We are wired for relationships. On the frontier, relationships and trust in others meant survival. In the marketplace, it means survival for you, the business owner. And it is coupled with a sense of trust and satisfaction in our customers, as well.

You don’t have to put on a pioneer costume or grow a mustache to use Pioneer Marketing. Just plaster that one law of human nature up where you can see it, and build your business from that place. Let your marketing, advertising, customer service, and sales be aligned with that law. Couple that with good business skills, and you are good to go. The next time you hear about the new “relationship marketing” just smile. You are already there. So hip, so pioneer. That’s you!

Sue Painter coaching mindset and marketing for solopreneurs. Check out her marketing tips at http://www.confidentmarketer.com and on the YouTube channel confidentmarketer. Sue's marketing expertise and strong insight leads her clients to call her a marketing therapist. She can help you build your business from the inside out.

Monday, September 20, 2010

The One Strategy That Doesn't Get Said

There are many skills it takes to grow, sustain, and build a business. Everything from marketing, mindset, and math has to be in play to make real money and a real difference. All of the education, time, and money you have put into growing your business won't much matter if you don't embody this - tenacity!

By Suzanne Evans

Never give up. Never quit.

People always want to know how I did it and what the one big shift was that happened.

It’s simple.

I didn’t stop. I didn’t stop when:
* People said No.
* I ran out of money.
* I got tired.
* I went dry creatively.
* Someone hurt my feelings.
* Someone no showed.
* People discouraged me.
* I felt I wasn’t enough.
* I was told I wasn’t enough.
* The clients I did have left.
* No one new came.
* The car broke down.
* A family member died.
* I was confused.
* I was scared.

I didn’t stop.

The greatest business skill set you need is tenacity. All the other stuff just make this path easier. Tenacity makes the path possible.

Now, here’s what you do:

When the money runs out… Get a job! (I like to call it a business loan) Fund your dream...if you believe in it enough, find the income stream to support it.

When people leave… Find new people! Clients leave for a reason. They are often afraid of success and some leave because they are complete. Let them go, take a breath, and ASK - find new people to share your message. Don’t stop.

When you are scared… Go through it! The only way out is through. There is no magic pill. There is no step-by-step system for fear. When you do it it gets easier… when you build that muscle you get braver. Courage is a learned skill.

When you get tired… Ask for help! No man is an island. I didn’t build this alone and neither can you. You need to only work in your brilliance and delegate the rest.

When someone hurts your feelings… Remember who you are! I didn’t get in this business to make friends. I do this to make a difference. Not everyone will like me, my style, or my methods. There are other coaches for them. I know who I am.

When you feel you aren’t enough… Know the truth. You are a child of God. You are here to let your light shine and you are enough. If you are reading this email it means you believe in possibility. Share that possibility for it is love.

Tenacity. The only business skill you ever need to know.

Suzanne Evans is best known as the 'action expert' and has coached hundreds of solopreneurs to model her multiple six figure business. Learn how you can help more people, make more money and have more fun doing what you love by signing up for your free copy of the 5-Part Mini-Course 'Awakening Your Authentic Entrepreneur' at http://www.helpmorepeople.com

Wednesday, August 18, 2010

Why Some Entrepreneurs Don't Make Much Money

When an entrepreneur isn't making much money, it's usually a mixture of lack of business skills and a mindset about money that needs to change. In this article, Sue tells a story about one entrepreneur who is going broke, and what that entrepreneur really needs to change if she wants to make money.

By Sue Painter

Here’s a quick test for you...let’s say I hand you a C-note. Close your eyes and feel that hundred dollar bill in your hand. Now, watch your thoughts and see where you mind goes. Just watch, until you get a thought that comes up about this money in your hands. What is the thought?

* A good number of people will have a thought something like “I better put this away, I don’t want to lose this money.”

* Fewer people will get a thought that goes “this is a gift, truly found money. How should I use this, what can I do?”

If your thought was about keeping the money safe, I’ll wager that you think of money as potential loss rather than potential gain. And that mindset isn’t going to help you create a business where money automatically comes in and goes out, just like the tide. You can’t stop the tide. If you constantly try, you still get the inevitable but you are much more miserable over it than if you just let that tide go out and enjoy watching it as it goes. Same with money!

The other day I had someone contact me who was interested, she said, in coaching for her small business. Actually, she had two businesses, had them both for several years. The very first statement out of her mouth was not about her businesses but about her money. “I make less than $100 a month with these businesses,” she said. She didn’t tell me about her businesses, ask me how I might help her, or what she hoped to gain in working with me. Instead, she came at me from a place of lack, focusing on what she doesn’t have. That lack is fear-based, contracted energy. Behind it is a poor-me mentality. That creates a constant story of lack, a negative energy. It literally “pulls” others toward that lack. While we didn’t get far in talking about working together, she right away let me know she had little money and probably could not afford to work with me. Underneath that statement was a subtle pull on me, to join her in her financial lack by cutting a deal to work with her for less money, or to sit there and spend an hour of my time for free while she talked about her financial lack rather than asking me how I could help her go where she wanted to go. Then, we both could lack and she would have a “community of lack” going. Do you see? Very subtle, but very powerful. Watch for that from others, and don’t let that energy go to work on you.

Let’s think about this solopreneur who has two businesses that are both several years old and who makes about $100 a month from both of them together. Does she need to be more profitable? Obviously, yes. She probably needs to focus down on one of the businesses, build that to an ongoing profit, and then bring the second business on-line. She may need to ditch one — I don’t know her well enough to say. I do know, though, that it doesn’t work to approach me about working with you and ask me first thing what I charge. The money isn’t the issue. The issue is what would this $100 a month entrepreneur GAIN in working with me (or someone else) rather than what she would LOSE. If I can’t get her to focus on the gain, she won’t engage in what I suggest to her. She’ll be thinking about that money she’s losing by paying me (or someone else) rather than what she is GETTING in the process.

There are a lot of reasons why many solopreneurs and small business owners are not profitable. Many lack knowledge about the basic tools of business. These things are skills that one can easily get through classes, reading, having a mentor or a coach, or going to workshops. The bigger barrier to making money is your own mind set about money. If you focus on how little you have it will absolutely never grow. If, instead, you focus on what you can gain with the money you have (no matter how little or large that amount) you will be OK.

Here’s what I wrote to this woman. “You know, it’s never about the money, it’s about what will happen if you do NOT change and learn to invest in building your business. When people e-mail me and ask only what it costs to hire me, I know they are trying to decide only on cost. The wiser decision is based on value or what it will cost them if they keep on the road they are on. See, it would benefit you to know more about what we might do for those three months, but instead of asking me that, or asking when we might talk about it, I see that you are asking only what it will cost you, not what you will gain. So there you have a little bit of coaching for free. If you change to put your attention on gain rather than loss, you will begin to shift your thinking and your business from cost to benefit, both for yourself and for those you wish to serve.”

If you are not profitable through lack of focus, bad planning, or lack of business skills you can fix it. It takes risk, self-honesty, willingness to feel a little uncomfortable as you learn new skills and behaviors. It takes faith! But the biggest thing it takes is shifting your mind set from lack to gain. Or, from a poverty mentality to an abundant mentality. Or, from fear to love. Not only will you benefit, but those you serve will benefit.

This week, practice not leading with money questions. Practice focusing on what you gain rather than what you lose. It will shift your mind set, and in time it will shift your bank account, too!

Sue Painter is a marketing therapist whose expertise is finding the dark and murky under-places that keep your business from succeeding. She develops business plans that work, and strategic marketing plans that take dead aim at your target market. You can subscribe to her Marketing Tips e-zine at http://www.confidentmarketer.com .

Wednesday, July 14, 2010

Like-minded Connections ... "the Best Stuff" To Explode Your Business Results

Masterminds are powerful tools for the solo entrepreneur. So how do you create one or join one? Here are three quick strategies to help you get started!

By Chris Makell

Just by virtue of its title, the solopreneur or solo entrepreneur can be a lonely job. You’re primarily heads down, with “one focus” to create value for your customers and delivering it with just two hands or maybe with a small team. And yet, there are the times when you pause and begin to wonder:

Is there anyone else facing the same challenges?

Are they hitting the brick wall on ideas?

Have they reached a plateau?

Can they be searching for new and fresh ideas to re-ignite their business?

Have they lost some of their passion?

Yes, it can be tough being a “one person” show. But it’s also pretty cool, right? You get to call ALL the shots. You say, go “left” and you don’t have to get 3 levels of approval on the use and relevance of the word “left”! It’s exhilarating to be able to shape your own destiny. You can deliver “the promise”, in the way your clients want and deserve. And you get to fully enjoy the exchange of money for the service you deliver! Yes!

And when you’re at a place where routine has set in and you’re craving something new, you can always read more or attend a teleseminar or workshop. But nothing beats being with and around those in your same field, industry or as part of an issue-based forum, be it virtually or in person.

When you connect with these like-minded individuals, in this case solopreneurs, there is a charge, a spark of electricity that ignites new strategies and a call to action! You hear the new ideas and approaches in a fresh way and the inspiration just surges through your brain. You’re seeing a whole new way to deliver value to your clients and to re-energize your passion around your business.

Let me give you a quick example!

Tom still loved and spoke passionately about his business; however he didn’t know what else he could do to bring in more clients beyond networking and speaking. He had heard about the power of masterminding with other successful business owners to learn more successful strategies. And he thought the accountability and support would help him achieve better results, faster.

He asked his network about how he could find a group of like-minded business owners who were in a mastermind or who could direct him to one. Having found his mastermind, Tom began actively participating with members of the group who opened his eyes to additional approaches to attracting new clients, based on their success.

By engaging in a mastermind group with others in his industry, he learned about more value-based offering his clients would be interested in. He just hadn’t thought anyone else was successfully doing it! The group gave Tom the insight and the steps to take immediate action. As a result, he’s launched a new campaign that brings him more clients than he anticipated!

Connecting with like-minded individuals in a well managed and facilitated mastermind can create untold business opportunities for you, because it leverages the powerful knowledge and experience of a team.

Here are 3 strategies to help you connect with like-minded solopreneurs, today, and create greater value for your business and your clients.

Strategy #1:

Plan to attend a one or two day conference in 2010, if you haven’t already. You will establish new connections to call on and learn new strategies for your business. And by the way, it will pay for itself in new ideas and actions to attract and deliver value to your clients and increase your income.

Strategy #2:

Do a search (either online or ask others while networking) and find associations/communities of solopreneurs in your industry, specialty, etc. Attend their meetings to learn more and leverage their knowledge. Request an opportunity to speak or contribute an article, so that others learn from you and recognize your expertise.

Strategy #3:

Look for and participate in a mastermind group. This collection of like-minded individuals will help you explode your results in a powerful and highly supported way. You can check in with your current network, as Tom did!

Connect with like-minded individuals and build the mastermind that takes you and your business to more profitable levels easily.

Chris Makell helps coaches, consultants, and other solopreneurs who want to live their life's purpose transition smoothly from unfulfilled full-time employees to successful full-time entrepreneurs. To learn how to make more money doing what you love, visit www.RadianceMarketing.com to claim your free special report, "7 Surefire Ways to Get the Most Out of Your Time and Marketing Dollar."

Thursday, June 24, 2010

Why Do Your Customers Buy From You

Entrepreneurs and small business owners need to know why their products attract buyers and why they don't. This article shows a quick way to think about why customers buy and how to design your offers to take advantage of their reasons.

By Sue Painter

Here’s a fun way to figure out why people are willing to get out their credit card to buy from you, a small business owner. Ready? Sit down and think about why YOU bought the last dozen items you spent money on. You might be surprised at the reasons, and you can use the insight to help structure the offers you make to your own customers.

I just spent over $200 on Magellan’s travel supplies website. Why?

1. I got their new spring catalog in the mail (direct mail, timing was right as I have several trips coming up, the catalog renewed my TOMA (top of mind awareness) about Magellan’s.) The key here? Timing! I regularly receive Magellan’s catalog and most usually pitch it without looking. But I’m excited about upcoming travel, and I needed to refresh a few things. LESSON LEARNED: Keeping in touch with your customers over time is critical, even if they haven’t bought from you in a while.

2. A notice on the catalog’s front cover offered free shipping on orders over $100. I figured almost any order would come to that amount, and free shipping saves me money. A deadline on the free shipping (May 9th) spurred me to take action now rather than put it off. LESSON LEARNED: Make your special offers time-limited, with a relatively short time frame.

3. Let’s look at what I ordered and my reason for each purchase.

Spill-proof pouch - because the last time I was on a plane one of my face care products leaked out into my cosmetic bag. This pouch SOLVES A PROBLEM.

Electronics travel case - I didn’t go looking for this item, but I saw it browsing the catalog. I’m thinking “Hmm, I’m sure tired of all my various chargers and USB cables getting into a big knot at the bottom of my briefcase, so maybe I’ll try this. This purchase SOLVES A PROBLEM and was a win for Magellan’s because of 1) A GOOD IDEA and 2) SUGGESTED SELLING.

Personalized Luggage Strap - This is actually a gift for my husband. His luggage looks similar to many, and more than once he’s picked up someone else’s at the airport. The strap WORKS AS A GIFT and helps SOLVE A PROBLEM.

Extra-large mesh pack-it cube - These things are hard to find in large sizes, so Magellan’s gets a star for carrying them. They allow me to pack clothing inside my luggage and quickly pull out what I need without digging around. And if you get stopped for inspection, you can easily pull these out without re-shuffling and wrinkling your clothing. For years now I’ve used 2 gallon kitchen zipper bags, but the zippers don’t hold up to being open and closed over and over again, and for some reason the 2 gallon size is now hard to find. These mesh cubes SOLVE A PROBLEM but also GAVE ME A FEELING OF LUXURY. I get to graduate from packing my clothes in baggies.

Blackberry pouch - When I’m sight-seeing I try hard not to lug around a purse, but I often need my phone and camera with me. This handy little pouch hangs around the neck and will hold both my Blackberry and my small camera. Perfect! Again, solves a problem and makes something easier for me.

Walk stool - One of the downsides of having a new knee is that it’s still hard for me to stand on concrete for very long without pain. This innovative product offers a sturdy, foldable instant stool but weights only a pound and can hang off a belt, a backpack, a purse, or my shoulder. Next time I think I better not go on a walking tour because we’ll stand and listen to a guide for 15 minutes, I’ll be able to go and know I can sit when I need to. HUGE problem solved for me and a solution I can live with (not too heavy or too bulky, small and easy to pack).

Blow-up neck pillow - I use this on planes all the time, and foolishly over inflated mine a few trips ago. POW! It burst at 30,000 feet and that was the end of that! I’ve looked around in airports but balked at paying $30.00 or so. Magellan’s had one on sale for $12.99. What sold me? REASONABLE PRICING and PROBLEM SOLVED.

As you can see, I’m a buyer who will spend for solving problems. I also respond to suggested selling and to the feeling of having something a little fancier for myself. But these are not the only reasons Magellan’s got $200 from me.

1. Their website is easy to maneuver and loads quickly.

2. They offer customer reviews of their products, which talked me into the stool and the Blackberry pouch.

3. Their page for each item tells me immediately that the item is in stock. (One of my pet peeves is ordering online only to find that the item isn’t due in for 30 days or so.)

4. Their page for each item offers more pictures than the catalog, allowing me to “look” at items in detail.

5. Their check-out process is easy. I’ve jumped off of more than one website that was hard to maneuver or had excessive checkout procedures, and I’ll bet you have, too.

Take a look at what you’ve spent money on and list the reasons why you bought. You can then look at what you offer to others and think about whether your offers are attractive for those same reasons. If they don’t, tweak them and your sales copy, and see if your sales improve. Knowing why you buy and turning it around will help you to see why some of your customers buy from you.

Sue Painter is a marketing therapist whose expertise is finding the dark and murky under-places that keep your business from succeeding. She develops business plans that work, and strategic marketing plans that take dead aim at your target market. You can subscribe to her Marketing Tips e-zine at http://www.confidentmarketer.com .

Monday, June 21, 2010

Small Business Coaching On Why Leads May Not Be Converting

For a lot of small business owners, leads may not be a problem. They may be receiving lots of leads. It's the conversion of those leads that may be the problem. So in this article, let's explore 4 reasons your leads may not be converting and what you can do about it.

By Allison Babb

1. Lead or Prospect Mismatch
Some people believe you have to get LOADS of random leads then some may shake out to be your ideal customer or target market.
That’s a laborious process and it also produces false leads - people who were never really interested in what you have in the first place.

Leads may not be converting because they truly aren’t your ideal customer and they never were. If that’s the case, evaluate who those leads are, and check that they match the profile of your target market . If they’re not an ideal prospect, don’t waste time following up. Instead focus on generating more qualified leads that truly reflect your target market who is hungry for what you offer.

2. Follow-Up Fortunes
One of the things I discuss with clients is setting up a follow-up process for their business.
There’s a fortune in the follow up, and honestly, there may be people out there just waiting to whip out their credit cards if only you’d pick up the phone and follow up with them.

When we’re pondering how to sell services, it’s important to create great follow-up systems that produce sales. A clear set of steps you take to follow up with someone who expressed interest in what you have to offer but hasn’t made a buying decision yet. The thing to remember is that customers buy not when we want them to buy; they buy when they are ready to buy. And this is why it’s important to have a follow-up system where you continue to provide value and you also remind them of how you can help.

My weekly Ezine is a good example of a follow-up system. It shows up every week with valuable information in response to subscriber questions, and it’s also a reminder of how I can help further if you’re interested in going deeper on any of the topics I discuss.

3. The Sting Rejection
Sometimes when we follow up, we essentially get a “No thanks, I’m not interested.” Ouch. But is it really an ouch?
To me, sales is all about genuinely finding out the customer’s need is first, and listening very well to see if I truly have a solution to those problems/challenges. If I do have a solution that can help, then I’ll share what options exist. And I do so by giving the prospect all the information they need to make a decision.

Sometimes we are not converting leads because we’re very afraid to follow up. Afraid of rejection. Afraid of bothering or pestering people. I’d invite you to embrace that the sale is not about us (as small business owners). It’s about the prospect or client. Avoid getting emotionally attached to the outcome of following up.

If you know you can help someone eliminate a challenge or frustration by what you offer, then why not follow up to let them know. Sometimes that requires that you shift your thinking from someone trying to “get a sale” to becoming a provider of solutions. And if that follow-up leads into having a sales conversation where you’re sharing specifics about your offerings, sure, they may say “no.” Their decision is simply a choice and not a rejection of you. All that said, however, you do need an effective sales conversion process… which brings me to my next point.

4. Sales Conversion Process
Prospects convert to paying clients more easily when you have a clear sales process through which you can take them.
If you don’t have a clear, step-by-step method to take a prospect from interest to purchase, this may be why you’re not converting them. Sometimes we get stuck because we’re staring the list of prospects but we really don’t know what we would say if we did follow up with them. So we procrastinate and we don’t take action.

And now I'd like to offer you the FREE one-hour audio seminar for solo entrepreneurs on "How to Create a Steady Stream of Clients For Your Solo Business" at: http://www.moreclientsaudio.com Allison Babb is an author, speaker and Small Business Coach to solo entrepreneurs at: http://www.GreatSmallBusinessAdvice.com

Thursday, April 15, 2010

Small Business Tax Returns - 3 Critical Tax Mistakes You Don't Want To Make

Every year the IRS delays the processing of millions of income tax returns for the same reasons. Here's the scoop on three of the most common tax preparation blunders and how to avoid them.

By Wayne M Davies

Every year the IRS delays the processing of millions of income tax returns for the same reasons. Here’s the scoop on three of the most common tax preparation blunders and how to avoid them.

Mistake #1: Forgetting to sign the return. If you omit your signature, the IRS will not process the return. Instead, they’ll send it back. And if you are married filing jointly, both spouses must sign, and if one spouse signs but the other doesn’t, the IRS will treat such a return as invalid and return it. The solution: e-file your return and the signature issue disappears.

Mistake #2: Math errors. Simple calculation errors are also quite common. With the proliferation of tax prep computer software programs, you would think this problem would have gone away by now. But plenty of folks still do their return the old-fashion way (i.e. via pencil and paper), so if your one of those types, what can I say? I respect you, but must insist you consider spending a few dollars this year on to automate the process. Not only will you eliminate the likelihood of a math error, but you’ll save time and lots of it. Instead of spending 5, 10, 15 hours or more on your return, using a software program will cut that down to 2 or 3 hours.

Mistake #3: Missing forms. Perhaps this blunder is the most understandable of the three. After all, who isn’t overwhelmed by the mind-boggling number of forms you have to prepare for the typical small business income tax return?

The problem here has to do with the omission of the forms that support the main income tax form for your particular type of enterprise. What do I mean by “the main forms”? Sole proprietors file Schedule C; regular corporations use Form 1120 and S corporations use Form 1120S; partnerships prepare Form 1065. Those forms are not the issue. It’s all the other forms that feed numbers into those main forms that folks tend to forget. Let’s call these forms the “supporting forms.”

Here’s a quick review of the most common supporting forms:

Form 4562 is used to report depreciation expense, amortization expense and the Section 179 expense deduction. So if you purchase fixed assets such as computer equipment or office furniture, you must show the details of these purchases on Form 4562. This form is used by business entities of all types.

For sole proprietors, two other common supporting forms are Schedule SE and Form 8829. Schedule SE is use to calculate the hated self-employment tax and Form 8829 is for the home office deduction.

The point here is this: if you report an amount for depreciation expense or the Section 179 deduction for newly purchased equipment on Schedule C Line 13, then you better include Form 4562 with your return. If you take the home office deduction on line 30, be sure to include Form 8829. And if you have a profit on Schedule C Line 31 of at least $400, then you must also prepare Schedule SE. Using a software program will eliminate the possibility of forgetting these supporting forms and schedules.

Looking for more small business tax tips? For a free copy of the 25-page Special Report "How To Instantly Double Your Deductions", visit http://www.yousaveontaxes.com . Wayne M. Davies is author of 3 ebooks on tax reduction strategies for small business owners and the self-employed.

Wednesday, April 14, 2010

The Easiest Approach For Getting Referrals For Your Small Business

Now here's a secret about customers or clients who refer that can be worth a great deal of money to you. Understand that the person who refers once can and will refer many more people, many more times if motivated to do so. Once a customer or client has referred someone to your business then that source of referral should be worked like the goldmine that it is.

By Dan Kennedy

Many business owners and executives, professionals and even sales people have all sorts of mental hang-ups about asking for referrals. However, most of those hang-ups are invalid and I find that those who ask get!
...simply ask for them.

Now here’s a secret about customers or clients who refer that can be worth a great deal of money to you. Understand that the person who refers once can and will refer many more people, many more times if motivated to do so. Once a customer or client has referred someone to your business then that source of referral should be worked like the goldmine that it is.

You should know that massive research by major to consumer direct sales companies and organizations indicates that the average person has an immediate circle of influence of fifty-two. Fifty-two other people.

The typical executive, for example, knows about fifty other people at a similar executive level in his own or closely related industries. This number tells you that each customer or client who comes through your business could bring you as many as fifty other customers or clients.

You should also know that research by the American Management Association indicates that the average satisfied customer only tells three other people about the satisfactory experience. Moving that person from telling three to telling fifty does require some definite action on your part. That action needs to focus on the giving of recognition and appreciation.

When a satisfied customer sends someone to you the sender should immediately receive some recognition and appreciation. Possibly a quick thank you note or telephone call at bare minimum. That should happen right away. Subsequently some type of thank you gift is usually appropriate and effective.

We send steaks, books, clocks, calculators, small electronic items, knife sets, all sorts of things. I recommend gifts that you do not ordinarily sell and a different gift each time the person refers. You will really be amazed at the positive results from this kind of action.

You’d also be surprised, incidentally, at the negative results of not doing this. The client who refers once and fails to get recognition and appreciation will probably never say anything to you, but to himself and often to a friend or associate he does say, “Can you believe it? I sent that guy a customer and never got as much as a thank you.” And then he never refers again.

Again it’s interesting to note that a basic success principle often discussed in personal development context is also a marketing strategy. It’s called the, “Attitude of Gratitude.”

Finally, if you want to even more directly stimulate referrals from your customers or clients you might want to consider the second party gift certificate idea. Here’s how this works:

You’re a satisfied regular customer of a clothing store. The owner of the store says to you, “John as you know, most of our customers come as referrals from other customers and we appreciate that and try to encourage it. This month we’re doing something interesting that you might want to help us with and be able to do a favor for your friends too.”

The store owner then gives you a ten dollar gift certificate negotiable only by a second party that you, the customer, addresses to and sign it over to. This idea works extremely well for just about any kind of retail business, service business, home products business, restaurants, stores, beauty parlors, carpet cleaning companies and so on.

If you’ll use this idea, you’ll again want to follow it up with recognition and appreciation to the customer who does pass along a coupon that is ultimately redeemed by a new customer.

Author Info: Dan Kennedy is internationally recognized as the 'Millionaire Maker,' helping people in just about every category of business turn their ideas into fortunes. Dan's "No B.S." approach is refreshing amidst a world of small business marketing hype and enriches those who act on his advice.

Tuesday, April 13, 2010

Home Based Business: Development in 3 Degrees

Too often businesses start very well but deteriorates gradually due to that lack of commitment. If you really want to achieve great riches, you will have to put some work into it. 3 steps that can help you develop your home based business successfully.

By Dev Maritz

Why is your home based development so important to get right from the start that can allow you to reap the rewards consistently?

First of all, I am here to tell you that becoming rich overnight does not exist. Quite a few dishonest Marketers use this style to get you buying from them. The sales page on the website will normally promise riches the next day and they do ruin lives by practising such methods.

Your home based business development comes from daily planning and followed up with determination.Too often businesses start very well but deteriorates gradually due to that lack of commitment.If you desperately want to become your own boss, hard work needs to go into it.

So lets start the 3 steps of developing your home based business:

1.Finding your niche market

Finding a profitable market where you can promote yourself is very important. The mind set of chosing the correct niche must be spot on due to many failures that occured doing the opposite. So which one should you choose?

Normally it is your hobbies that you are passionate about that can generate a great income for your home based business. If you are passionate about fishing for example, you will know more about that niche than the average joe will.

You will also have to concentrate on how strong the competition is in that certain area of your choice. The more saturated it is, the more difficult it will become to be recognized. “Google Trends” is a fantastic tool to find out what people are searching for at this present moment. Also the keywords taken from those tools can help you establish the number of searches in the google rankings. If you have less than a two hundred thousand, it is a good sign that your home based business can enjoy great exposure if implemented correctly.

2.Expand your knowledge further on your niche

Imagine having already the knowledge in a particular field and then defining that further to an expert level. This will allow you to stand out far above the other home based business owners and be seen as the person “to go to” for advice.

Researhing and learning additional elements of that niche contributes to your success.We never stop learning new ways from this world and it can only take us further in life.

3.Understanding what your customers need from that niche

One way you can profit from attaining this information without paying for it, is the right website(s). Yahoo answers have millions of question about every niche you can possible think of. If you search for your market on the website, you will quickly establish what people want and need on a daily basis.

Isn’t that a great free tool that can be used under the radar for a better approach? You can even join Google groups and forums to comprehend the habits of your future customers.

Taking time daily to digest what people need through these sites will be a great help for you in the years to come. These 3 steps for your home based business development is the first gateway that needs to be considered. After doing all that research, everything else will become a second nature.

Dev Maritz has been a succesful home based business owner and teaches many people to take the same approach. If you found this article useful, come and get you free e-book now for more information at :=> http://www.Your500ADay.com

Monday, April 12, 2010

Quick Tips To Get High Powered Publicity For Your Business

Find out the insider secrets to using publicity to empower your business and corporate communications strategy. You'll learn how to stay visible to your target audience, build awareness of your brand and encourage interested prospective clients to take action.

By Annie Jennings

What can business learn from successful businesses that use publicity strategies to stay in front of their clients and customers? Plenty! Getting publicity on your business allows you to create a substantial and compelling competitive advantage for your business. Want to be at the top of your industry? Publicity is the key.

One thing many businesses may wonder about is if accessing the media for publicity and brand name awareness costs a ton of money. The answer is no. You can get publicity for your business easily and within your budget.

In addition to staying visible to your target audience using publicity on radio shows, in newspapers and magazines and on TV shows, successful business go the extra mile for their customers and your clients and customers love these businesses for it.

Clients want to make investments in services that provide a return on their investment and they want guarantees so they don’t wind up wasting financial resources.

Be center stage in your industry. Stay competitive in publicity and promotion and make sure it is you or your business commenting on the issues in the news and not your competitors.

Stay consistent in your publicity outreach as this is important to creating your company’s competitive edge as clients want to do business with the vital companies making a difference.

Get quoted expert media placements, publicity on your company, be seen and heard in media including Radio, TV, Magazines, Online and Newspapers.

Be engaged in the success of your target market. When your business becomes part of the success model of other businesses you have achieved a great goal. Ask yourself, what if I were the client, what woudl I want to see available in products and services to bring my company to its next level of success? Once you discover the answer to this question create products and services that your marketplace and your clients can use to add profits to their bottom line.

One of the best business strategies is to understand what your client needs to go to their next level of success and create these resources for them. Stay cutting edge yourself too so you are always one step ahead of the services your client will need.

As your clients integrate your products and services in their business model, be working on the next higher level product as soon these new products will naturally be in demand. Always strive to create the better mousetrap for your clients to ensure your success!

Business publicity secrets can be yours! Annie Jennings PR is an expert public relations firm that works with individuals, businesses and corporations who wish to stay visibile and create their competitive advantage with publicity. Contact Annie Jennings PR and a national publicist can let you know how publicity can help you achieve your highest level of publicity success.

Thursday, March 11, 2010

The Truth About What's Really Running Your Business

There's a silent epidemic happening for entrepreneurs world-wide. It's not a pretty epidemic, nor is it fun... but it's an epidemic that can be eradicated by each and every entrepreneur who has been affected by it.

By Christine Kloser

Copyright (c) 2010 Christine Kloser

There’s a silent epidemic happening for entrepreneurs world-wide. It’s not a pretty epidemic, nor is it fun… but it’s an epidemic that can be eradicated by each and every entrepreneur who has been affected by it.

I was personally impacted by this epidemic for many, many years in my business without having any conscious awareness that it was happening, that it had its hold on me. And, I’m hearing more and more about this epidemic as entrepreneurs are waking up and beginning to realize what’s really happening in their businesses.

And, the epidemic is this.... I call it the “Unconscious, Conscious Entrepreneur” syndrome. I can hear you already saying, “What?” “What does it mean to be an “unconscious, conscious entrepreneur?” Right? If you’re reading this ezine and believe in a conscious approach to business, how could you be unconsciousness?

The answer is this. There are ways of being, old habits, default patterns that you aren’t even aware of that are running your business, and your life. While you are likely working very hard (like I did) not to let these old beliefs and behaviors take over… they are so insidious, they can’t help but creep in.

Here are a two of the most common ways this epidemic shows up, and my personal experience with each:

I’m Not Good Enough

If somewhere in your psyche, you have a belief that you are not “good enough” (which is very common for us overachieving entrepreneurs), no matter how much you take action and do things in your business to feel good enough, there will always be an empty space inside of you that can never be filled no matter how much you achieve. Feeling like “enough” has to come from inside of you… it can never come from anything outside of yourself.

How this core belief showed up in me was in my ambitious drive to excel, achieve, and accomplish. While I was connected to really wanting to help people, there had been this underlying “frenetic” feeling that I always had to be doing more. At the time I wasn’t aware that my ambition and my drive to excel was being fueled by a feeling of not being “good enough.” Once I shifted away from being an “unconscious, conscious entrepreneur” and opened my eyes to what was really happening inside of myself, everything changed.

So, I invite you to simply notice if you have an underlying feeling of “not being good enough.” If you do, allow yourself to see how this belief (which is not really the truth of who you are) plays out in your life and your business. With this new awareness, now stay “awake” to it and you’ll see you can begin to make some new choices.

I’m Worried About What Others Think

This is another biggy! Be honest with yourself, and ask yourself if you’re ever done something (or not done something) because of what someone else might think? Did you launch a program you really didn’t want to do, just because your coach or a colleague told you to do it? Have you ever said “yes” to something you wanted to say “no” to because you didn’t want to let down the other person? Chances are you’ve done these things because you allow what others think about you to have an influence on you.

This was another big learning area for me. I used to worry about what others thought about me and what I did or didn’t do (in fact, to be honest, every now and then I still feel this old thought pattern creeping in). But, once I realized how much I had been sacrificing my own joy trying to fit into someone else’s idea of me - someone else’s “box” - I have been working hard within myself to not worry so much about what other people think about me. It’s a tough lesson to learn, especially when you care about others and don’t want to make waves or cause anyone to be upset. However, the most important person to not upset or make waves with is yourself!

So, beginning today, let yourself see if you have been worried about what other people think of you. And, begin to imagine what would be possible if you thought most about what you thought of you. As one of my friends likes to say, “What you think of me is none of my business.”

Christine Kloser, author of The Freedom Formula, helps small businesses put soul in their business and money in the bank. If you want to enjoy a purpose-driven business and a soulful life, send for my free Conscious Business Success Kit, which includes my report, How to Avoid the 3 Massive Mistakes Made by Conscious Entrepreneurs and audio, 7 Strategies Entrepreneurial Authors Need to Know Before Writing a Word, at LoveYourLife.com.

Wednesday, March 3, 2010

The #2 Reason Why Your Marketing Isn't Working

The #2 reason however is lack of having a plan; a big picture plan and vision that is. Planning is quite different these days when you're dealing with much more online or global business prospects and promotions.

By Katrina Sawa

Last month I wrote about the #1 reason your marketing isn’t working and I thought I’d continue on with that trend to see what else I could come up with...the #1 reason was ‘the marketing doesn’t matter without the right mindset’.

The #2 reason however is lack of having a plan; a big picture plan and vision that is. Planning is quite different these days when you’re dealing with much more online or global business prospects and promotions.

Just because it’s easier to reach your prospects and clients faster with email, social media and video doesn’t mean you want to stop planning and just record something and send it out when you feel like it.

This is what I see business owners doing however more and more and frankly it’s not getting most of them anywhere; they’re not seeing results running this type of hap hazard marketing strategy.

As the CEO of your small business (even home based or online business owner, yes you too), you need a big picture plan on ‘what’s next’. You always want to be thinking “what’s next” or you’ll stay stagnant and won’t grow as fast because you aren’t thinking far enough and planning far enough in advance.

If you are serious about building a 6 or 7+ figure business then you seriously need to sit down and develop a clear marketing action plan, big picture business vision, business operating systems and then figure out (ahead of time) how you (or your team) is going to implement that plan...because implementation is the KEY.

Here are a few examples of things you’ll want to be planning for if you’re serious about building your business next year:

- How are you going to attract more clients
- How are you following up with the ones you have
- What do you need to learn more about
- What kind of support team do you need to put in place
- What opportunities are available to you now
- What are your BIG IDEAS and how do you plan to implement/launch/sell them
- Is your web presence currently able to support all that you need to do
- Do you have enough streams of income in place or which to start
- What is your system for getting support
- How will you stay motivated
- How will you invest in yourself; in which coach or mentor
-What is your plan for self care and sooooo much more....

I hate to see it when small business owners have to go back and get a J.O.B. or struggle basically to survive trying to do what they love..yet they really have no idea what they’re doing to grow their business. It’s a shame that most entrepreneurs like this won’t invest in their own learning or coaching so that they can learn what it takes to run a smooth-running, money-making business that they’re passionate about. We spend money to go to school, college or trade school to learn what it is we’re supposed to ‘do’ for our life yet we won’t invest in ourselves as entrepreneurs to learn what we need to do to more effectively run and grow our businesses.

That seems kind of silly to me??

My parents spent a ton of money on my formal business education and I had jobs that stemmed from that...but I was meant to be an entrepreneur not an employee. And everything I learned about running my business and being an entrepreneur I learned from other people in my field who were doing what I was doing and who were ahead of me and who taught me what to do specifically to accelerate my learning curve.

So, as the CEO of your business, I say it’s time to take your business seriously and:

- set up a big picture plan (get help if you need to to see what’s possible)
- set up systems and implementation strategy to put that plan into action
- invest back in yourself and your business for continued learning and coaching
- always think about ‘what’s next’ I hope this gives you some things to think about but just don’t sit there and THINK about them, do something about them!

Remember, to get a plan in order to get a more specific and targeted approach to your marketing and business growth. It’s often times hard to see what’s possible for yourself however, we can only think as big as our minds have been conditioned to think.

(c) Copyright 2009 K. Sawa Marketing International. Katrina Sawa is an Award-Winning Author & Speaker who's helped hundreds of small business owners take dramatic steps in their businesses to get them to the next level in business, revenues & their personal life. Get her Free Entrepreneur's Success Kit at http://www.JumpStartYourMarketing.com !

Tuesday, March 2, 2010

The #1 Reason Your Marketing Isn't Working

Your marketing doesn't matter without the right mindset - do you have the right mindset for success and abundance??

By Katrina Sawa

Your marketing doesn’t matter without the right mindset - do you have the right mindset for success and abundance?? You basically might as well STOP marketing because it’s useless without the following beliefs:

Do you believe that it will all work out in the end?

Do you believe that YOU are destined for greatness?

Do you believe that YOU deserve it?

Do you KNOW without a shadow of doubt that you will make tons of money, doing what you love
to do, serving those you love to serve in the type of business model that fits your lifestyle??

Do you believe that if you give, you’ll receive?

Do you believe that money is energy and it has to flow in and out of your life in order for you to get what you want?

Do you believe that you have to invest your money and time in order to show the Universe that you’re serious about being in business and to get what you want?

Do you believe that the Universe will come through and show you the way (the HOW) if you take that next step or leap of faith?

If you are missing ANY of these mindset beliefs then your marketing may not work!

Over the last few years I’ve gotten really in touch with my intuition, my inner gut feelings and emotions, and I’ve learned to fully value myself NO MATTER WHAT.

This is something though that I see is lacking in pretty much MOST of the minds of the entrepreneurs that I come in contact with on a daily basis.

I wish there was a MAGIC PILL I could serve up to those who lack in some of these beliefs to change your mindset, beliefs and turn them into only POWERFUL, EMPOWERING BELIEFS instead. But unfortunately there is no magic pill.

There is only time, persistence, awareness and transformation that can occur within you, outside of you, all around you.....in order to make these mindset shifts.

The problem is that most people have a hard time accomplishing this themselves....

My experience is that I need someone (or a group of someones) to hold me accountable each week/month, someone to hold the mirror up in front of my face often to show me just how great I really am, and someone to inspire and motivate me to live bigger and believe in myself 100%.

What is your plan for change in the next year?? Are you going to keep doing things the same way or do you want things in your life and your business to CHANGE DRAMATICALLY??

Do you want to make more money than you’ve dreamed?

Do you want to live the happiest life ever?

Do you want to be fully in love (with yourself and others)?

Well what are you going to do about it??

(c) Copyright 2009 K. Sawa Marketing International. Katrina Sawa is an Award-Winning Author & Speaker who's helped hundreds of small business owners take dramatic steps in their businesses to get them to the next level in business, revenues & their personal life. Get her Free Entrepreneur's Success Kit at http://www.JumpStartYourMarketing.com !

Tuesday, February 16, 2010

Recession? Who Cares? Your Business Can Still Be Successful

In every economic downturn, entrepreneurs have created successful businesses through the combination of seeking new opportunities, getting creative and taking action. Specific examples of companies and what they did to succeed serve as an example for entrepreneurs today.

By Barbara Roemer

The media reports are full of bad news about the economy on a global, national and even household level. Predictions abound on if another severe downturn like the Great Depression will begin, and if it does, when it will start and how long it will last.

Turn off the news and think about this: Consumers do not stop spending in a downturn; they just become more selective on where to spend their dollars. They look for what appears to be a better deal, whether it is better pricing, better customer service, a special add-on, easier sales process, and more.

Even during the Great Depression (that began in 1929), consumers were still spending. Companies that survived, and even thrived, got creative and took action. Here are just a few examples from that time period:
* Kellogg and Post were once pretty close competitors until the Great Depression. Kellogg came out swinging, with heavy marketing; Post took the no-growth strategy - thinking they needed to save money and not spend it. Kellogg overtook Post, and Post has never caught up. A similar situation occurred with Chevrolet and Ford. Chevrolet increased their marketing and had a large market lead over Ford for many years.
* Proctor and Gamble began a huge branding campaign by being the first company to sponsor radio soap operas, which was a significant form of entertainment and relaxation for listeners. Their name became a household word and remains so today.
* Bixler Jewelers, credited as the oldest jeweler in America, saw a drop in customer traffic and decided to open a free lending library in the store. This increased their traffic, helped to maintain customer loyalty, and little by little, their sales improved and they are still in business today.
* A.E. Schmidt was a billiard table manufacturer when the Depression hit. They diversified and sold janitorial supplies to restaurants. They also sought new markets for their billiard tables, approaching the US government about the need to provide inexpensive and positive activities for those in government work camps during the long, boring evenings when they weren’t working – and billiards became one of the top activities at those camps.
* Cornell Iron Works was a specialty ironworks provider. In the Depression, they broadened their market so that they not only made specialty railings, grates and stairways; they also made plain metal siding for delivery trucks and security doors.

Some entrepreneurs saw opportunities that others didn’t see during the Depression, and took them.

During the Great Depression, most brokerages had either closed, or were afraid to take on new clients. This left many people, who still wanted to invest in the stock market, with no place to go. Howard Buffet (the father of multi-billionaire Warren Buffet) recognized this need and opened his own brokerage to fill the need.
* Walt Disney knew people still wanted entertainment, and provided it at a low cost through animated cartoons.
* Ever hear of Monopoly? The rise of this game occurred as another form of cheap entertainment. A small investment for the Monopoly game became a way to see hope in the future, and as players developed their money making skills, they could pretend they were real estate barons.

There have been severe recessions since the Great Depression ended, and during each one, new and existing businesses were built to great levels of success.

Two companies that began business in a recession are Domino’s Pizza and Toys R Us. They thrived by using new marketing models. Domino’s Pizza created a marketing campaign that no other pizza company had: if they didn’t deliver the pizza within 30 minutes, the customer did not have to pay for it. Toys R Us transferred the warehouse store concept to selling toys - a first for that niche.

A very short list of some other companies that started business during economic downturns include: Wrigley Gum, UPS, NewEgg, Super 8 Motel, Microsoft, Symantec, Nantucket Juice, Zippo Lighters and Hewlett Packard. These companies are giants, and are well-known by multitudes!

What are the main keys to success in these examples?
1. GET CREATIVE with marketing, business models, product diversification and positioning, and,
2. SEEK the opportunities that others do not see, and,
3. TAKE ACTION, because of, and in spite of, the economic news.

Don’t get caught up in the fear that is being propagated on the news channels. Instead, focus on what you can do to create you success, regardless of the current economy.

For free resources, including a free report "Top 10 Reasons Entrepreneurs Fail, & What to Do so YOU SUCCEED!" visit http://www.successmasteryprogram.com/Top-10-ebook-request.html . Barbara Roemer uses her advanced education and certifications, and over 20 years of experience to guide others on the path to creating a fulfilling and successful business life.

Wednesday, November 4, 2009

Should I Pay Myself a Salary From My Business?

Unless you have other income streams, yes, you should.

By Rosalind Resnick

Q: I started my business last year, and it's beginning to make some real money. Should I pay myself a salary or reinvest the money back into the company?

A: Unlike our friends and neighbors in the corporate world, entrepreneurs like us generally don't work for a paycheck. What gets us up in the morning is the desire for financial freedom, personal fulfillment and the hope that, one day, that sapling we've nurtured all these years will grow into one very valuable tree. That said, the bank, the power company and the supermarket probably don't share our entrepreneurial dreams.

That's why, unless you have investments or other income streams, you'll probably want to start paying yourself a salary from your business as soon as your company can afford it. You need to recognize that your company is a business, not a hobby, and that its goal is to make a profit.

"You should not be building a business if the model does not lead to sustainable operating income and cash flow out of which a salary can be taken in a reasonable period of time," says Frances Spark of Spark Consulting LLC, a New York firm that provides business consulting, operational restructuring and interim CFO and COO services to entrepreneurs and small to mid-size companies. There are also taxes to consider.

"If your business is structured as a sole proprietorship or an LLC, you are probably better off taking distributions from the company and paying taxes on an estimated basis during the year," Spark says. "If you have employees, you will have to set up a payroll and ensure that you withhold and pay the necessary employment taxes to the IRS."

Sunday, October 25, 2009

Grow Your Business With Intention

By Lisa Druxman, Mompreneur

You start your business so you can have a career that's supportive of motherhood. You work hard. You do your best to balance working and raising kids. But what happens when your business takes off?

That's what happened to me. Don't get me wrong. I'm not complaining or saying I'm not thrilled about the success of my business. But I started Stroller Strides eight years ago so I could spend most of my time with my son. At the birth of the business, that worked. We got to play after classes. I worked when he was napping. Life was good. But as he grew, so did the business. We are now one of the fastest-growing franchises in the nation, and I'm managing a staff of 12. I'm now the mother of two kids and have less time to spend with my family. I squeeze much of the time I do have with my kids in between work, and even then I'm checking e-mail on my phone.

I have slipped down the slope of good intentions. While my original purpose was to be a mom first and foremost, now I'm balancing full-time work with full-time motherhood. With my son starting third grade, I am greatly aware that I'll never get these precious years back.

I coach countless women on how to achieve their dreams as mom entrepreneurs. My first question is always, "Why do you want to start your business?" If it's to be with your kids, then take your steps carefully. Not many businesses will allow you to balance work and motherhood. Your ultimate goal of success for your business may not match your goal of balance at home.

For me, the solution is a hard look at my time and how I spend it. I've dropped many projects I once thought important but now realize can be done by someone else. I surround myself with a team of incredible employees who share a passion and drive for the business. I trust them to grow my business so I can invest in my family. As a mom entrepreneur, you probably have a desire to have total control and to manage every last detail. I get that. But there aren't enough hours in the day, and no one else can be mommy to your kids. So grow your business with intention. Don't rush toward success, as it may be better if it comes later.

Here are my top five tips to keep you on track as you grow your business:

Stay clear on why you wanted to start your business.

Evaluate how you spend your time regularly.

Ask yourself if any part of your day could be done by someone else. That could be work or it could be housekeeping.

Make yourself a Not-To-Do List. For instance, if time is precious, then you need to commit not to do things: Don't go to unnecessary meetings, waste time on social media sites, etc.

Create a Most Important Thing To Do List. Knowing you can't get everything done, make a list of what's most important to your family, to your work and to yourself each day.