Archive | September, 2009

Developing a Blog vs. Website Strategy

By on September 28, 2009 in Branding & Marketing, How to Start, Social Media, Your Small Business
Blog vs. Website in Business

Blog vs. Website in Business

This is the second of a three part series on blogging for business. It is such an essential issue for small businesses today that I felt it important to dedicate some real time to the topic.  The first article focused on building a small business blog. Today’s piece investigates the decision to have a separate website verses using a blog as your website. 

It used to be that all you had to worry about was having a website, now you need a blog and a complete social media footprint to go along with it to reflect the many ways that your customers are using the internet.  Whether you have a professional services business, a brick-and-mortar retail establishment or an online business.  Your business needs a website as the anchor of your online marketing!   All websites should include a static home page that has been designed and written to clearly explain what you have on offer to people who visit your site.  The question then becomes what kind of website do you need?

One of the most common questions I get about building an online brand is whether a small business should:

a)     Have a website and a separate blog

b)     Have a blog as the company website

c)     Import a blog into an existing website. 

I polled my @smallbizlady followers on http://www.twitter.com/ for advice on this:  Here’s what a few had to say:

“With the right web team, you can power the blog within the website using WordPress.”

 ”Unless one can add value and maintain a blog long-term, I suggest just developing a website and importing dynamic content like Twitter feeds.”

“If your goal is heavy on the commercial side then go with a web site. If you want to create a community, go with a blog.” 

Let’s define the basic business website terms:  A blog is an online journal written by one person, or a team of staff people focused on a particular area of interest.  Blogs are typically written in a conversational style and updated 2-3 times a week minimum.   Search engines love blogs because of the fresh content.  If possible, it’s best to have the blog as part of your website.  Then, the fresh content on the blog attracts the search engines to your entire website.

Blog-based websites are cost effective, search engine friendly and can have both static information (like a traditional website) and dynamic information by way of blog posts.  It is also very easy to update a blog without hiring a web designer every time you make a change. Cathy Larkin of  WebSavvyPR.com says, “Blog posts are a way for service businesses to build trust in their brand. A blog, done well, gives you and your staff a way to showcase your expertise in a way that makes people think of you when it comes time to buy.”

A website is a collection of related web pages, images, videos or other digital assets that are available under a specific domain name on the World Wide Web. Websites are essentially online brochures designed to provide information, build a contact list, make money, and raise awareness of a small business. Information on a traditional website typically does not change very often.  The static information on a typical website includes 5-7 pages: home page, about us, contact us, services/products, in the news, and an online store.

If you are just getting started, a self-hosted blog is the best option to help promote your business online.  If you are starting from scratch, I suggest using WordPress.org, with your own hosting package.  What I like about WordPress is that is designed to have both static pages and blog pages.  Go for a hosting company that has a one button install for WordPress.org blogs.  Customizing a WordPress blog can be tricky, but once its rolling along it’s pretty much maintenance-free.   

If you already have a website, adding a blog section to it can be a way to update your online presence, and bring more traffic to your existing site. It’s best to have the blog as part of your website, but this isn’t always possible.  “You may have started a blog a long time ago on a free hosted site such as blogger or typepad and may not want to go through what it takes to transfer a hosted blog to your website.  In this case, you should link your blog from your website (and vice versa) and add frequent new content to your website, such as articles, white papers and special reports to provide fresh content on the website,” says internet marketing consultant, Phyllis Zimbler Miller, Millermosaicllc.com.  The only downside is you will need to engage a professional web designer to upgrade your website to import your blog, and add the additional content unless you learn to do it yourself.

When would you use a blog and website separately? If your blog is targeted to a very specific niche market and your website is targeted to a larger market, two sites make sense.  Some advocate creating a completely separate blog and stand alone website if you are an infopreneur. This works for authors, coaches, professional speakers etc. (a micro-site designed to sell each book, for example).  I use Melindaemerson.com and Succeedasyourownboss.com.

To get up and running quickly, I advocate hiring someone to help you set up your blog. You will have an expert to help you build the most professional presentation, create a branded banner, customize your blog with a theme, and show you the ropes.

No matter what method you decide to go with, it is very important to have a static home page on website and/or blog where what you offer is clear the moment someone lands on your page.  The headline, banner graphic, and the text all work together to keep that unique visitor on your site.

Next week, the final part of the blogging for business series: 10 Ways To Get Your Blog To Shine.

Part 1 http://succeedasyourownboss.com/09/2009/how-to-build-a-small-business-blog/

WANT TO USE THIS ARTICLE IN YOUR EZINE, E-NEWSLETTER OR WEB SITE?  You may, as long as you include this complete blurb with it:

Melinda Emerson “SmallBizLady” is a Veteran Entrepreneur, Small Business Expert and Social Media Coach who hosts #SmallBizChat on Twitter.  #Smallbizchat is the trusted resource on Twitter to discuss everything entrepreneurs need to know about launching and running a profitable small business.  Melinda’s first book, Become Your Own Boss in 12 months! A Month-by-Month Guide to Start a Business that Works! is scheduled to be released by Adams Media in early 2010.

For more tips on how start or grow your small business subscribe to Melinda Emerson’s blog www.succeedasyourownboss.com.

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How to Stop Wasting Time With Your Social Media

By on September 24, 2009 in SmallBizChat, Social Media, Women in Business

Each week as Smallbizlady, I conduct interviews with small business experts on my weekly Twitter talk show #SmallBizChat. This is excerpted from my #SmallBizChat interview @Lenawest, Lena is a social media locksmith who helps dynamic women business owners untangle “social media spaghetti.” She makes social media easy-to-use, manageable and worthwhile. She also a columnist and blogger for Entrepreneur Magazine and Fast Company. For more information her website http://www.xynoMedia.com

Smallbizlady: Why does social media become such a black hole of time for so many people?

Lena West: Because for the most part, it’s easy to use. Notice I didn’t say easy to use effectively, I said, easy to use. And, the tools are mostly intuitive. Click here, type that, etc. And, people mistakenly equate easy-to-use with knowing what and why to do something and then it’s all downhill from there. It’s hour after hour of trying to get it right — to no avail.

Smallbizlady: Why is the source of where business owners get their social media information so critical to success with social media?

Lena West: Because everyone has an agenda. And, I don’t mean that in a bad way. I have an agenda, too. I am passionate about helping women CEO’s. So every word out of my mouth is going to be in favor of them and my agenda is to help them remove the “craziness” from social media and start using it as a marketing tool that gets results.  So, women CEO’s need to know where they’re getting their information. Is it from someone who’s just learning what it means to be a business owner or is it from a 12-year business veteran like myself?Understand to whom you’re listening and make sure you’re on their agenda. 

Smallbizlady: You talk a lot about people tapping into a “why” when they are using social media to market their businesses, how does that help them save time? 

Lena West: Once you figure out what your company needs to get from the blogosphere, you can figure out how and what to contribute. It’s like being in a relationship with a guy. You can’t figure out what you want from him until you figure out where you’re going in life overall. Otherwise you’re just hanging around watching each other breathe and there’s no way that’s productive.

Smallbizlady: Social media has its own vocabulary, is it important for entrepreneurs to understand the lingo – even minimally?

Lena West: Absolutely, it is. Anyone who knows me knows that I do NOT believe women CEO’s should spend all their time thinking about and learning social media “stuff”. But, just like you need to know how to read a profit and loss statment without being a CPA and sniff out a crappy contract without being a lawyer — you need to understand the basics of social media. And, if you don’t know, ASK. Educate yourself so people can’t give you the ear hustle about social media, even if they try.

Smallbizlady: How can business owners resist the urge to join everything and accept everybody?

Lena West:  They can treat it like they do everything else — have rules. Whether we know it or want to admit it or not, we all have rules. Rules for how we allow people to speak to us. Rules for how we allow people to treat us. Same deal with social media and social networking. You need to have rules. I get invites to join other social networks all the time, but I ignore them. I know where my market is and that’s what I care about. What do I care if my friends are on some other social network? My market’s on Facebook and so that’s where I put my energy. It’s OK to delete and ignore requests that don’t meet your business needs.  

Smallbizlady: What’s the quickest, most effective way for CEOs to evaluate social media consultants?

Lena West:  I’ve met so many “so called” social media consultants. They have glossy websites and you have a conversation with them and they’re managing PPC campaigns or running website stats. Those are all honorable jobs, but if you’re a social media consultant, don’t you think you should be working with social media tools? The bottom line is this: unless someone makes the lion’s share of their livelihood providing social media services to clients, they’re a hobbyist. If they’re not writing and PAID to speak about social media topics, they’re a hobbyist. Again, know your information sources!

Smallbizlady: How can we make sure that we’re being effective with our social media work – what metrics should we measure, etc?

Lena West: This greatly depends on the business owner’s goal. If you are using social media to learn more about your market, then you should be measuring how your products and services are resonating with your market (one way to do this by asking and keeping track of the answers you get). If you’re measuring blog post comments or some other metric, you’re not connecting the metric back to your original goal.

Smallbizlady: Many business owners now have less staff and thus less time for marketing, What is your Social Media Auto Pilot Program?

Lena West: This is a program that I’m really proud of. Women Business Owners love it. They get to work with me to figure out the big picture and then our team of VA’s execute the day-to-day details. Many of our clients don’t have the time, interest or inclination to get deeply involved with social media and so based on a proprietary process we’ve developed we do everything for them yet 100% of the content comes from THEM, not us. Clients love it. You can read more about it here: http://ow.ly/pSjU

Smallbizlady: What do you think is next for social media?

Lena West: What’s immediately next is more adoption and understanding — and WAY more women CEO’s releasing the fear and confusion energy surrounding social media, getting the expert help they need and stepping up to claim what was ALWAYS ours — word of mouth.

Smallbizlady: How should people approach social media?

Lena West: I place a HUGE amount of importance on personal responsibility. I believe that you should do what you say and mean what you say. I’m not perfect, but I strive for excellence. And, I believe that social media, by virtue of the medium, is making more people accountable. If you’re not who you say you are in this day and age, you’re in for it. I LOVE LOVE that!

If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter. 

How to participate in #SmallBizChat: http://bit.ly/S797e

For more tips on starting or growing your small business subscribe to Melinda Emerson’s blog at www.succeedasyourownboss.com

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Global Creative Economy Summit 2009

By on September 22, 2009 in My Recommendations, Social Media

See Melinda Emerson Live at the Global Creative Economy Summit

Oct 5-6, 2009 Philadelphia Convention Center 

Only two weeks to register for GCECS 2009!

I will be among 150 speakers discussing topics including innovative technologies such as animation, gaming, design, social media, and business solutions software; to the resources that support creative entrepreneurial development ; to the 21st century workforce skills needed to fuel the creative economy; to the convergence of technologies and innovation that will drive sustainability in our communities and in the world.

Visit www.gcecs2009.com for more information about the program, speakers, the $75 No Frills registration package, and free events.

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How To Build A Small Business Blog

By on September 21, 2009 in Branding & Marketing, How to Start, Social Media
building a business blog

Building a business blog.

This is a first of a three part series on blogging for business. It is such an important issue for small businesses today that I felt it important to dedicate some real time to the topic. The series will focus on getting started at blogging, the decision to have a blog and a website or just a blog, and 10 tips to get your blog noticed.

Great blogs stand out because the writer knows who their reader is and has great content.   Getting your blog noticed takes strategy – planning, marketing know-how and good writing skills.  You can use pay-per click advertising to get your brand known, but developing a successful blog is really the best way to get noticed on the web.

Let’s look at some of the basics of creating a small business blog:

Know who you are talking to.  Don’t create a blog for you– create a blog for your readers and potential clients.  You should not write a single word on a blog until you have researched your target audience and conducted a trends analysis on that audience. It’s not hard, just do it.   Know who they are and what they need to know.  Christina Katz, author of Get Known Before the Book Deal says you need to identify your niche market, and then break down your target into several submarkets. Then use your blog as a service to your target markets.

Create an editorial calendar.  I am a former TV producer, so old habits die hard.  It’s important to build an editorial calendar to keep track of your content.  It will also help you brainstorm topics in advance.  Read articles and blogs in your industry to get ideas. Sometimes I read articles, and just a sentence from it can seed an idea for a blog post.  Avoid boring your readers to death with the same song, come at a subject from a different angle.  A well-kept calendar will also keep your blog sharp, timely, and informative.

Start developing content 3-6 months before you start blogging.  Good blogs have good content.  Take the time to write well to make sure your content is excellent.  Also, there will be days that you just do not have time to write.  It’s best to develop a mini archive of articles that you can use as blog posts when you do not have the time to write a fresh piece.  It is always good to get a timely piece that can tie-in a current event, but do yourself a favor – plan ahead. 

Determine your blog strategy.  Determine your blog publishing schedule.  The key is to remain as consistent as possible.  Some people post no more than two-to-three posts a week, but there are bloggers that put out new posts everyday. I post twice a week on Mondays and Thursdays.  While there is no specific formula for how many times a week you should post, just remember that readers appreciate consistency.

Choose the right blog platform.  There are so many choices out there to establish your blog.  WordPress.org has a huge community, with many support resources including featured plug-ins and many customization options.  You may need some help with set-up, but after that, posting is an easy process.  My blog is a customized WordPress blog.  If you don’t want to buy a domain name and hosting package WordPress.com, Typepad.com and Blogger.com might be just what you need.  If you are doing business, I suggest spending the $150.00 and personally branding your blog site.

Develop a picture library.  Adding an image to your blog posts adds a huge amount of depth to your blog.  Ahead of time, pull images that might work for your blog posts.  There are free sites such as www.Photobucket.com, www.openphoto.net, www.unprofound.com  You can also use www.Flickr.com, but use the advanced search page and check “only search within Creative Commons-licensed content” to avoid copyright issues.  There are also low cost photo sites such as www.istockphoto.com.  Pulling pictures can be time consuming, so if you start out with a library of 50 or so, you’ll save time in the long run. 

Write great headlines. Your headline can make or break your post, so choose your words carefully. It helps to think about what your reader would type into a search engine to find your information.  Use active voice and as few words as possible.  Throwing in key words is good too.  You can also use lists, numbers, how-tos, compelling questions, and famous names to draw people in.  It doesn’t matter how good your blog content is if no one will click on the link to read it.  Would you read an article titled “Growing Your Online Marketing through Blogging” or one titled “Blogging for Business”?  If you’re struggling with headlines, look at a few popular blogs to see how they do it. 

With these tips, you’ll speak to your target audience and attract a wealth of new readers. If any of these points sound difficult or time consuming, remember, you don’t have to do it all alone.  Get help from a social media coach or marketing consultant that can help you build your blog and position yourself as an industry expert in no time.

Did I miss any tips? Leave me a comment and let me know your secrets to blogging success.  

WANT TO USE THIS ARTICLE IN YOUR EZINE, E-NEWSLETTER OR WEB SITE?  You may, as long as you include this complete blurb with it:

Melinda Emerson “SmallBizLady” is a Veteran Entrepreneur, Small Business Expert and Social Media Coach who hosts #SmallBizChat on Twitter.  #Smallbizchat is the trusted resource on Twitter to discuss everything entrepreneurs need to know about launching and running a profitable small business.  Melinda’s first book, Become Your Own Boss in 12 months! A Month-by-Month Guide to Start a Business that Works! is scheduled to be released by Adams Media in early 2010.

For more tips on how start or grow your small business subscribe to Melinda Emerson’s blog www.succeedasyourownboss.com.

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Develop Webinars to Grow Your Business

By on September 17, 2009 in Branding & Marketing, SmallBizChat, Social Media

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat.  The show takes place every Wed on Twitter from 8-9pm ET.  This is excerpted from my recent interview with Roger Courville @1080group He is known as “The Virtual Presenter.” Roger is a sought-after speaker on how to improve productivity using live webinar presentations.  Roger’s company 1080 Group, LLC, is an independent training firm that helps companies learn and optimize online presentations and Webinars For more information log on to www.thevirtualpresenter.com Roger is author of The Virtual Presenter’s Handbook. Contact Roger at roger@1080group.com

SmallBizLady:   What is a webinar?

Roger Courville:  A webinar is a web-based seminar. It is a live presentation that brings presenters and audiences together from any place in the world.  Participants view the presentation via a web browser while listening to the presenter via a telephone conference call or over the computer speakers.  If your content can be shown on a computer, it is a good candidate for a webinar.

SmallBizLady:   What are webinars used for?

Roger Courville:  You can use a webinar for – lead generation, customer training, product demonstrations, etc.  The key is you must know what your call to action is and what questions to ask to help you build and advance a pipeline.

SmallBizLady:  How can a small biz owner use webinars to boost sales? 

Roger Courville Hosting a webinar is great for capturing data to building your list.  You can capture data via registration, polls, and surveys that help you avoid missing follow-up opportunities.  Combined with registration data or exit surveys, this can be powerful for building a business. 

Smallbizlady:  What are the top 5 mistakes people make with webinars?

Roger Courville Assuming people are paying attention.  A recent survey suggests 88% of attendees are multi-tasking.  Create an experience or become background noise.

Not using dialogue or asking for participation.  The presentation still might be mostly you speaking, but you wouldn’t stand in front of 20 people in-person and never ask or answer a question, would you?  Don’t wait until the end of webinar, either.  Don’t present at people.  Communicate with them.

Death by PowerPoint.  Webinars increase the importance of having visually engaging slides.  You need to engage visually or you’ll get tuned out.  The audience isn’t captive.

Poor voice quality.  I recently conducted a study on webinar presentation best practices, and out of seventeen success factors, audiences chose “quality of the speaker’s voice or delivery” second only to “user friendly webinar solution.”  Not everyone was born with a radio voice, but everyone can use what he/she has with passion and inflection.  Remember to enunciate, and remember that what sounds exaggerated to you doesn’t sound exaggerated to your audience.

No prep or rehearsal.  Most people over-estimate their ability to “wing it.”  You’re a professional businessperson, be a professional presenter.  And professionals rehearse.

Smallbizlady:  How can you get people to attend your webinar?

Roger Courville Present a topic of value, and people will attend.  More important, if it’s quite valuable to them, they’re more likely to engage.  Multi-tasking is high in webinars.  Shut off the sales-speak or they’ll ‘change the channel.’ 

Smallbizlady:  What is the best day and time for webinars?

Roger Courville The best day and time to host a webinar is the day and time your audience is most likely to attend.  If you were to schedule a meeting with them, what do you think would be the tme in their week they’d be most likely open? The most common days/times are Tuesdays, Wednesdays, and Thursdays between 9am and 2pm local time.  That said, I’ve seen fabulously-attended webinars at odd times or right before holidays. 

Smallbizlady:  How long should a webinar be? 

Roger Courville For most presentations, unless you’re utterly awesome, keep it to less than an hour.  Training webinars are the one exception, but even there, the trend is to “chunk” content and distribute them over time rather than try to tackle too much in one session. 

Smallbizlady:  How frequently should I interact with people during a webinar?

Roger Courville Think about how frequently you’d interact in-person and make it a point to do it more frequently online. You’ll never command 100% attention, but make it a point to learn how to connect with them naturally.

Smallbizlady: Should I make recordings of my webinars?

Roger Courville I think you should always make recordings.  They’re simple to make, and they’re great backup.  Offering the recordings can be a great tool to generate additional leads, and share with someone who wanted to attend the live webinar but couldn’t.  Be sure to think through what parts of your sales process need to be live via a webinar versus what can have impact as a recording.

Keep in mind, recordings can be an awful way to deliver mission-critical messages.  Recordings don’t engage like live dialogue, and if the content is important, consider whether or not it will be effectively consumed in a recording. 

Smallbizlady:  Can I charge for webinars?

Roger Courville Absolutely.  Just like you can charge for content that is valuable that is distributed in any other medium.  Even if your webinar is free ask yourself “What would they pay for?”  Plan content that someone finds valuable, and then if it’s free there is just that much more incentive for them to register and attend.

Smallbizlady:  Can a webinar be a direct sales pitch?

Roger Courville Yes – if you’ve promoted it honestly.  Clarity in the promotional and registration page content is key.  Don’t try to boost attendance by pitching one thing and then slipping in a sales pitch. 

Alternatively, if invitees know what they’re showing up for, a direct presentation of your product or service, a webinar can be a great way to connect with people – and gather valuable feedback to advance the sales process.

Smallbizlady:  What do webinar attendees hate the most?

Roger Courville Presenters who read slides or scripts.  I know when I’m in the audience and this happens, I always want to ask, “Why didn’t you just give me a document and save us both some time?”

Content that is not as advertised.  We spoke about this already, but let me put an exclamation point behind it:  trust is the new currency of trade.  Don’t risk your brand to get a few extra attendees.

Presenters that drift off-topic.  Remember that they’re giving up something more valuable than money – their time.  Respect that by delivering what you promised.

Smallbizlady:  Name some top webinar software solutions?

Roger Courville The top players are Webex, Adobe Connect,DimDim Citrix Online, MSFT LiveMeeting, but there are 200 players – many good ones.

My recommendation is to think “easy to use,” “capturing valuable data,” and “easy to make recordings” as you shop around for a service to use.

It’s important to think about what you want to accomplish.  Free is free for a reason:  don’t save 30 bucks on a webinar solution and waste hours doing extra production or missing valuable data that could help you close sales.

Smallbizlady:  What about video?

Roger Courville Video is a valuable tool when it’s the right tool for the job.  Much of the time, however, I find clients want to use video to compensate for bad slides or a slow-moving presentation.  Remember that any additional technological “ask” of your audience means you have that much more chance of an attendee having a poor experience.  I recommend using video only if it’s critical to what you need to show, but often it’s not. 

Smallbizlady:   Why should a business owner consider conducting webinars?

Presenting in a webinar changes the focus of your audience.  How you use your voice and how well you prepare your slides increases in importance.

I’ll never advocate replacing all face-to-face talks, but I do believe that any business owner who doesn’t expand their bag of tricks is missing out on new opportunities.

Smallbizlady:   How can you turn a teleseminar into a mini-webinar?

This will appear like an ad hoc presentation, but it’s really a sales tactic.   To turn a phone call into a webinar opportunity ask you audience “Can I show you something in the next eight minutes?” at the push of a button. It a great way to  shorten the sales cycle by making tomorrow’s appointment today’s presentation.

If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter. 

How to participate in #SmallBizChat: http://bit.ly/S797e

For more tips on starting or growing your small business subscribe to Melinda Emerson’s blog at www.succeedasyourownboss.com

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Financial Help for Growing Inner City Businesses

By on September 15, 2009 in Cash Flow & Finance, Grow Your Business

Are you aware of all your financial options to support your company’s growth? 

Could your business benefit from:

  • Discovering the full range of financial options available to grow your businesses
  • Building and strengthening relationships with investors
  • Obtaining one-on-one feedback from seasoned investors and consultants
  • Optimizing your business growth strategy
  • Promoting your company products or services

The Inner City Capital Connections training program might be your answer.  ICCC New York 2009 features seasoned professionals who break down what you should know about debt, equity and other financing options for your small business.

Inner City Capital Connections (ICCC) is a free national program that identifies and prepares a select group of entrepreneurs searching for finance to support their business growth.  Unlike other capital raising events, ICCC is unique in its focus on inner city entrepreneurs. Since the inaugural event in 2005, nearly 150 inner city companies and 115 equity providers have been selected to participate. These companies have raised more than $140 million in capital.

On October 20, 2009, a full day training session will take place in New York City to prepare entrepreneurs to meet with potential investors.   The program culminates with an event on November 18-19th in New York that gives entrepreneurs the opportunity to connect one-on-one with investors also.

Any for-profit corporations, partnerships or proprietorships headquartered in or having 51% or more of their physical operations in an economically distressed urban area of the US that have revenues of $2 million or more in 2008 should apply for this program.

The 2009 Inner City Capital Connections (ICCC) program is co-sponsored by the U.S. Small Business Administration, the Initiative for a Competitive Inner City and Bank of America.

 For more information: www.icic.org

WANT TO USE THIS ARTICLE IN YOUR EZINE, E-NEWSLETTER OR WEB SITE?  You may, as long as you include this complete blurb with it:


Melinda Emerson “SmallBizLady” is a Veteran Entrepreneur, Small Business Expert and Social Media Coach who hosts #SmallBizChat on Twitter.  #Smallbizchat is the trusted resource on Twitter to discuss everything entrepreneurs need to know about launching and running a profitable small business.  Melinda’s first book, Become Your Own Boss in 12 months! A Month-by-Month Guide to Start a Business that Works! is scheduled to be released by Adams Media in early 2010.

 

For more tips on how start or grow your small business subscribe to Melinda Emerson’s blog www.succeedasyourownboss.com.

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Finding The Money To Start Your Small Business

By on September 14, 2009 in Become Your Own Boss Tips, Cash Flow & Finance, Starting A Small Business

The following is an excerpt from my forthcoming book: Become Your Own Boss in 12 months or Less! A Month-by-Month Guide to Start a Business that Works! Scheduled to be released by Adams Media in February 2010.

If you are ready to take the leap into entrepreneurship, you must get really focused on your finances. It will be a real test to get back to only the bare necessities. Are you willing to reduce your lifestyle down to just basic living expenses? Most of the time, the initial capital to start your small business will come from you. Here are 8 tips you may not have considered to find money to start your small business.

Pay your mortgage twice a month to reduce payments. It is the accelerated payment program. Your mortgage company or a third party vendor offers this service for a low or no fee. The money will be automatically debited from your bank account. An extra mortgage payment is made each year; you can reduce a 30 year mortgage to a 22 year mortgage.

Go cash only. If you don’t have the cash, you don’t buy it. If you stop using your check card or credit cards to pay for everything, it’s much easier to stick to a weekly budget for yourself.

Avoid 90 days, 6 months or 1 year – same as cash deals. If you do not have the money the day you are making the purchase, chances are you will not have it in 90-days, six-months or a year from when it’s due. Keep in mind if you can’t pay, the interest rate is hefty and is compounded back to your original purchase date.

Cook at home and bring your leftovers to work for lunch. You’ll save money, get a healthier meal, and spend more quality time with your family. Look for free recipes online and start cooking!

Keep driving your car. Drive your car until it stops running. As a new business owner, you can no longer afford to upgrade your vehicle every two to three years. Buy a reliable car and take care of it, so you can ride without a car payment as long as you can. (I still do this! My car is five years old.) Try to plan your days so that you can do lots of major errands on the same day to minimize gas and parking expenses.

Grab a sweater. Turning down your thermostat five degrees and keeping a throw blanket nearby to save money on heating costs. The American Council for an Energy-Efficient Economy (ACEEE) says that for every degree you lower your thermostat, you’ll save about 3% of your heating bill. Putting your thermostat on a timer during the workday or while you are asleep will have an even greater effect on your heating bills.

Turn down the hot water heater. Heating water is the third-largest portion of the typical family’s energy bill. Heat water to 115-120 degrees to reduce power consumption.

Cut back on trips to Starbucks, Dunkin’ Donuts, Dairy Queen and Blockbuster. The money you spend each week on unnecessary extras can really add up. Treat yourself only once in a while. You’ll be shocked how the money you save will add up.

When you get started in business, you need three pools of money – an emergency savings account for your household, 12 months of budget to run your household, and 12 months of operating expenses to start your business. If you employ these simple money management tools, you will have the money you need in no time.

Comment on this blog if you have any other money saving tips to share.

WANT TO USE THIS ARTICLE IN YOUR EZINE, E-NEWSLETTER OR WEB SITE? You may, as long as you include this complete blurb with it:

Melinda Emerson “SmallBizLady”is a Veteran Entrepreneur, Small Business Expert and Social Media Coach who hosts #smallbizchat on Twitter. #Smallbizchat is the trusted resource Twitter to discuss everything entrepreneurs need to know about launching and running a profitable small business. Melinda’s first book, Become Your Own Boss in 12 months or Less! A Month-by-Month Guide to Start a Business that Works! is scheduled to be released by Adams Media in early 2010.

For more tips on how to start or grow your small business visit http://succeedasyourowboss.com and subscribe to Melinda Emerson’s blog.

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5 Ways to Shift from Tired to Inspired in Business

By on September 10, 2009 in Grow Your Business, SmallBizChat

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat.  The show takes place every Wed on Twitter from 8-9pm ET.  This is excerpted from my recent interview with Elizabeth Barbour @CoachElizabethB on Twitter.  Elizabeth’s company is The Inspired Entrepreneur. She is a small business coaching expert who serves as a catalyst for entrepreneurs to take inspired action and create extraordinary results in business and in life.  A professional coach for nine years, Elizabeth has worked with thousands of people to shift from tired to inspired in business and in life! Her four core values are community, celebration, spirituality and self-care.  Visit www.ElizabethBarbour.com for details!

SmallBizLady:  Why do entrepreneurs get so tired?

CoachElizabethB : We’re excited! We have big ideas! We multi-task all the time so we juggle a lot of balls in the air and often drop some. Often, we are solopreneurs so we are wearing many hats which gets overwhelming. In this economy, some people are struggling so there is a bit of fear that motivates us to do more than we normally would. That’s exhausting.

SmallBizLady: What are the warning signs that you are tired?

CoachElizabethB: LOL! So many. Some more obvious than others. Losing things. Forgetting Appointments. Always being late. Cloudy Thinking. Can’t fall asleep at night. We get overtired and then over stimulated and keep a to-do list by our beds! We stop taking care of ourselves – no exercise, poor food choices, no down time. Just go-go-go 24-7. Stress. Getting cranky or snippy. We call it “having the growlies” in our house! Watch out if someone has the growlies! J

SmallBizLady:  So how can we get inspired? I understand you have 5 Tips to Shift from Tired to Inspired. What’s the first tip?

CoachElizabethB: Tip #1 to Get Inspired: Practice Self Care. Like the financial gurus suggest – don’t spend all your money and then save what’s left over – start by paying yourself first! Decrease tolerations and things that drain your energy. Let go of habits and behaviors that don’t serve you or your biz. Do more of what you love to do. Go for a hike. Read. Swim. Nap. Dance. A 30 min break can really shift your energy in a positive way. Establish your connection to God, self and others. When you are plugged in spiritually, you live an inspired life. Louise Hay suggests using this sentence “I love myself therefore…”  if you said that several times a day, you’d always make good choices.

SmallBizLady:  What’s the 2nd tip to shift from Tired to Inspired?  

CoachElizabethB: Tip #2 to Get Inspired: Learn, Study, Grow! Read books. Take classes. Get a mentor. Go to workshops & conferences. Attend all the FREE events you can find. My top 3 Biz books: The E-Myth, Attracting Perfect Customers, One Page Business Plan. My top 3 Personal books: Sabbath – Wayne Muller, You Can Heal Your Life – Louise Hay, Ask and It Is Given – Abraham-Hicks

SmallBizLady:  What’s the 3rd tip to shift from Tired to Inspired?

CoachElizabethB:  Tip #3 to Get Inspired:  Build Intentional Community. Assess your current community – who feeds you? Who drains you? Who do you want to spend more time with? Who are you spending your time with? Successful people surround themselves with successful people. They mastermind. They go to workshops and personal development seminars. They hire the right people to work for them. Think about it – Tiger Woods – what does he do? He plays GOLF – that’s it! He does what he does best. And he surrounds himself with a community that supports him at being his best.

SmallBizLady:  What’s the 4th tip to shift from Tired to Inspired?

CoachElizabethB: Tip #4 to Get Inspired: Create Systems for Success. Look at every aspect of your life. Not just your biz! Assess Your Business: Is your desk organized? Are your computer files easy to navigate? What’s your communication like with your clients? Assess Your Home: is bill paying easy? Do you have a central scheduling place for meetings, vacations, etc. do you have a place to hang your KEYS when you walk in the door? Systems make life easier because there’s a plan that you don’t have to think about.

SmallBizLady:  What’s the 5th tip to shift from Tired to Inspired?

CoachElizabethB: Tip #5 to Get Inspired: Work ON your business, not just in it. This is what Michael Gerber teaches in the E-Myth. If you have not read it, you must! Working on your business means to embrace being an Entrepreneur with a Capital E! When you work IN the business, you’re serving clients and doing daily tasks. When you work ON the business, you’re Visioning, Goal Setting, Big Picture Thinking, Networking. That’s where the inspiration comes in!

 

SmallBizLady: These are great tips but what if I still need help?

 

CoachElizabethB: Get help and perspective: hire a coach, work with a mastermind group, talk to your dog, meditate or pray. It’s important to identify the areas you need help and then find the appropriate resource (person, book, website, etc) Also be sure to schedule doses of inspiration. Sounds silly. But if it’s not in your schedule, it’s not in your life.

SmallBizLady: What’s your advice for brand new entrepreneurs?

CoachElizabethB: Network, network, network! Build your community so that you feel supported and you have access to resources. Join groups in your community to get the word out and to not feel isolated. Get a mentor or hire a coach. Someone to guide you on your journey and help you stay focused. Remember what Calvin & Hobbes said? “It’s only work unless someone makes you do it!” If you’re an entrepreneur, you’ve chosen this. So have fun with it. Don’t create another J-O-B for yourself!

SmallBizLady: Who and what inspires you?

CoachElizabethB: My Favorite Spiritual Teachers: Sonia Choquette, Wayne Dyer, Caroline Myss, Jerry & Esther Hicks. My Favorite Business Gurus: Michel Gerber, Stephen Covery, Harv Eker, Walt Disney! J I get inspired by being in community, spending time in nature and having intellectual and spiritual conversations. Life is so much fun and I love to explore and learn constantly! Being a coach is the perfect fit for me.

If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter. 

How to participate in #SmallBizChat: http://bit.ly/S797e

For more tips on starting or growing your small business subscribe to Melinda Emerson’s blog at www.succeedasyourownboss.com

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Managing Difficult Clients

By on September 6, 2009 in Branding & Marketing, Grow Your Business, My Recommendations

Does this sound familiar…”How many 16 hour days is this project going to take?” “My client has saboteurs working with me on this project,” “This project started with an Managing Difficult Clientsunrealistic deadline and has gotten crazier every day since.” If you have said any of these phrases out loud to yourself recently – you are not alone.  Professional service businesses, particularly creative service businesses can really get abused and lose profit margin to rework.

Unanticipated hours spent trying to please a client that is never satisfied can drain you and your business like a vampire.  From the countless unnecessary revisions, to the “I don’t know what I want, but I don’t want that” dance or too many people allowed to influence the look and feel of your project.  Then there’s the real kicker– the client beat you up on price in the first place.  After more than a decade in business, I have seen that devil more than a few times-and now I have strategies to cope.

When it seems like nothing that you do is right, forget about preserving the relationship – save your sanity instead.  With a client who just won’t be satisfied no matter what you do, you need to operate defensively. 

Smallbizlady’s Rules for Managing Difficult Clients

  • Never start work without a signed agreement and at least a 50% deposit.
  • Don’t accept less than your standard fee without a good reason.
  • Reserve the right to adjust the budget if the scope of the project changes.
  • Make sure the budget is significant enough to hire a project manager to help you.
  • Have a kickoff to meet all the key stakeholders.
  • Create a project timeline and then have the client sign off.
  • Develop a detailed project plan with assigned task and deliverables.
  • Praise stakeholders openly who are helpful.
  • State clearly in your contract agreement, and every time you send over a draft how many business days the client will have to review the draft based on the project timeline.
  • Insist on a single point of contact.
  • 1 edit, 1 revision -That’s it! All additional changes are billable for time and materials hourly.
  • Use a signed work order for revisions. Before additional revisions are made, make the client sign a work order to approve any additional charges.
  • Over communicate with status reports.
  • Document all communication, just in case you need to prove ridiculous directives after the fact.

 If you are a project-based company it may make sense to invest in a project management software/file share program such as GoPlan, Microsoft Sharepoint, or SharedPlan Central. These programs allow you to give restricted access to clients and your project team 24/7.  It will also keep you from having 42 emails back and forth about the same project.

Always make time to fill your pipeline.  Do not fall into the trap of spending all of your time on one extremely demanding clients to the point where you can’t devote yourself to any new opportunities.  Say “no” or “that’s impossible” when necessary.

Take great care of customers, who love your work and acknowledge your dedication and professionalism.  They are rare, but they are the backbone of your long-term business success.

You will not love all of your clients; not everyone is a good customer.  The great thing about being in business for yourself is that you can move on from difficult clients after their nightmare project is over. Never be afraid to cut your losses and move on.

Have you ever dealt with a difficult client? How did you handle the situation? Share your story in the comments.

WANT TO USE THIS ARTICLE IN YOUR EZINE, E-NEWSLETTER OR WEB SITE? You may, as long as you include this complete blurb with it:

Melinda Emerson is a Veteran Entrepreneur, Small Business Expert and Social Media Coach who hosts #smallbizchat on Twitter.  #Smallbizchat is the trusted resource on Twitter to discuss everything entrepreneurs need to know about launching and running a profitable small business.  Melinda’s first book, Be Your Own Boss in 12 months or Less; A Month-by-Month Guide to Start a Business that Works! is scheduled to be released by Adams Media in early 2010.

For more helpful tips to start or grow your small business subscribe to Melinda Emerson’s blog. http://www.succeedasyourownboss.com

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How to Quit a Job to Start a Business

By on September 3, 2009 in Branding & Marketing, SmallBizChat, Starting A Small Business

Each week as Smallbizlady, I conduct interviews with small business experts on my weekly Twitter talk show #SmallBizChat. This is excerpted from my #SmallBizChat interview @SherriGarrity.  Sherri is the founder of Corporate Fugitive, a company that provides business and marketing coaching to aspiring entrepreneurs and business owners who want to go from overwhelmed to extraordinary.

In 2007, she walked away from a raise and a successful marketing career in the corporate world to start her own consulting business. During her transition she found that there wasn’t a lot of information and support out there specific to entrepreneurs coming out of a corporate environment – so she established Corporate Fugitive. She has lots of free articles and how-to information on her site at http://www.corporatefugitive.com

Smallbizlady: How did you become the corporate fugitive and what are the typical reasons people quit their jobs to start a business?

Sherri Garrity: Many people choose to leave careers behind because they want flexibility, or have reached a ceiling in their income and want to have more control over their futures. Other common reasons are a desire to leave a legacy and create something, to fulfill a dream or passion. People also start businesses because of a change in life circumstance like job loss, relocation, or post retirement. In my case I hit a wall energy and health-wise and decided that I wanted to be able to spend more time at home with my young child.

Smallbizlady: What is the number one mistake you see people making when they quit a job to start a business?

Sherri Garrity: The biggest mistake I see is when someone does not take the time to truly consider what they want from a business. As a small business owner there is little or no line between life and work, and so if you don’t take the time to really think about your income goals, the way you like to work, the kind of flexibility you want, etc. you can easily create a business that simply becomes a job in disguise.

Smallbizlady: What is the best case scenario for a start-up entrepreneur?

Sherri Garrity: When you can create a business that is uniquely suited to you, by taking the time to consider what’s best for you, who you’re ideally matched to serve, and you create the  business model that really fits you, it’s absolutely extraordinary and totally rewarding! This is the moment I strive for with business owners, is to see the light go on and their eyes widen when they realize the business is there for them to create exactly in the way that’s custom fit for them.

Smallbizlady: What are the things that someone can do first like maybe even before they quit their day job?

Sherri Garrity: It is best to do the research and test the waters while you’re still working. Think about what you want, research others who have businesses you like, and check out the market. Once you know what you want, it’s relatively easy to start a home-based business, especially with the online tools we have today. The other thing is I think what’s really valuable is to learn some basics about marketing and business and I’m not talking about being a master but you know, get some basic knowledge while you have the time to learn and your income is not dependent on it. Finally, build your network. Today with social media this is so much quicker than it used to be. Get out there and don’t worry about perfection, just take action.

Smallbizlady: What tips do you have for people who are still working for an employer while they’re developing their business?

Sherri Garrity: I think the number one is for first of all, keep it separate. You know, one of the biggest challenges, if you’re working while you’re starting a business, is what to tell people. Keep the worlds separate as much as possible and while you’re representing your employer, be the consummate professional and do your best job and absolutely do not market your independent services where you work. That’s a big no-no. It’s just not ethical and that’s not going to serve you if you try to market yourself at the same time. But if you’re out on your own time, attending an event or something, introduce yourself as the owner of your business, and do not mention that you’re also working for someone else. This makes you look disloyal to your employer and also not serious about your business. So keep it separate.

The second tip is to use the predictable income you have to invest in some of the tools you’ll need in your business.

Smallbizlady: Popular business advice is to save several months salary, or use someone else’s money to start your business. Do you have any advice in this area?

Sherri Garrity: Most of the 2500 or so new businesses that are started every day in Canada and the USA are started as sole proprietorships. Most are service based and also home based meaning most of us tend to transition from a job to working at home and usually on our own, providing services in our professional backgrounds. The first piece of advice I give to anyone contemplating making this leap is to go through the basics of what you want in a business, what you need to live on, what you’d ideally like vs what you have to make, and so on. Everyone has a different circumstance and this is also why I think that these kinds of generalized statements are unrealistic. As far as business loans go, it really depends on your type of business. Most of my clients are solo professionals who work from home providing a service and so wouldn’t require or likely qualify for a typical business loan.

Smallbizlady: What should someone expect when they quit?

Sherri Garrity:  The biggest fear people have is where they are going to get clients and how they’re going to get the money flowing. These are valid concerns, but luckily with some planning and forethought you can get things rolling pretty quickly, although you shouldn’t expect to be replacing your income right away. If you do your homework and keep marketing you’ll get the work and this will lead to more.

Smallbizlady:  Do you need to change your mindset to become an entrepreneur?

Sherri Garrity: I think the issue that no one really talks about that can be really difficult is the total mindset shift that is required. I joke about the “corporate detox” process but it really doesn’t feel that funny when you’re in the middle of it and no one told you what to expect. It can be completely exhilarating and completely terrifying at the same time. You lose your identity as an employee and all of its social stature and you enter the no man’s land of the not yet successful business owner. The other thing to remember is that you’re doing the unexpected and so many people who know you will think you’re crazy to walk away from the so called security of a corporate career. You need to develop a thick skin.

Smallbizlady: I have heard you say that business owners should CHOOSE their clients. Most think it’s the other way around. Can you explain that?

Sherri Garrity: Especially coming out of a traditional employee relationship we tend to think that our marketplace dictates our business and unfortunately many people who start businesses just take whatever work comes along. I advise that it is entirely possible to choose your clients and not only that, you SHOULD choose. You will actually make more money and enjoy your business more if you can tap into a specific unique talent that has huge value to the ideal client. Once you set up services that complement your skills and work preferences, this will make your marketing efforts more effective. You’ll be able to attract clients and connect with them in a way that will ensure they are the right fit for you. This is how you build a business instead of creating a job for yourself!

Smallbizlady: Many new business owners spread themselves really thin to take on work that maybe doesn’t fit them. They dream of getting a big client. You like to call this an anchor client. Can you talk about that?

Sherri Garrity: Many business owners are just so happy to get clients that they take whatever comes along. They think if they can land that one big secure, regular paying client that they’ll be set. This is sometimes called the anchor client. The problem with an anchor is that it is designed to weigh an object, in this case you, down! Be careful. Be clear to define your market and your ideal client. Be clear on your service offerings. It’s better to start out with less, but highly focused work than to spread yourself thin or to take clients on that don’t fit where you want to go. Also, if you are going to seek a big client, be sure you are not overly dependent on one or two for your survival.

 The biggest danger of an anchor client is that you become complacent and you stop marketing. Never stop marketing.

Smallbizlady: Many new business owners have a problem with cash flow. Can you give us advice on this?

Sherri Garrity: Cash flow is really critical. You can have high fees and lots of clients and be really strapped if you are waiting a long time to get paid. The best way to ensure consistent cash flow is to make sure you’re always marketing. The marketing actions you’re taking today are what turn into cash flow months down the road. Also structure your products and services in such a way that you’re getting predictable and regular payments. There are many ways to set your business up to encourage this.

Smallbizlady: How much time do you think should be spent on marketing and managing their business versus doing the actual work of their business?

Sherri Garrity:  I advise people they should be spending at least the equivalent of a day per week on this. In all businesses this is critical, but it’s even more so in new businesses that aren’t established yet. You can think of the business in two broad categories: marketing and operations. Marketing is the routine activities that keep you in front of your ideal client. For example, you should be spending your time developing new contacts, following up with current or past customers, attending networking events, and drawing clients in with activities like speaking, writing and so on. Think of this as part of your job as a business owner rather than a special project or something.

The other category is marketing operations. On a regular basis you must revisit your broader business and marketing plan. This means creating new services and products ahead of time, and rolling them out in a well thought out fashion.

If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter. 

How to participate in #SmallBizChat: http://bit.ly/S797e

For more tips on starting or growing your small business subscribe to Melinda Emerson’s blog at www.succeedasyourownboss.com

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It’s September; Time to Re-commit to Your Business!

By on September 1, 2009 in Become Your Own Boss Tips, Grow Your Business

wall-clock#SmallBizTip 1  

September is great time to re-commit, remove, renew & rebrand your business.

 September is the last quarter of the business calendar year.  Realistically, you have 14 weeks left to accomplish your 2009business goals. The last two weeks of the year are pretty much a wash. 

Re-commit to your Top 3 goals

We all have business goals for the year that we have still not accomplished. Make a new list of your goals, and get down the business of getting them done. Be honest, take ownership, acknowledge where you are. Evaluate whether it’s a realistic goal and reflect on the reason(s) why you haven’t fulfilled it already. Build an action plan and get an accountability partner. It’s all about moving forward–don’t repeat history.

Remove The Clutter

You cannot do your best work in a cluttered work environment. Perform a “waste walk” around your office and your house. Get rid of stuff with no home or that you do not use.  It feels good to work in a clean space. Cluttered spaces are draining. Clean your work space at least once a month.

Renew Your Skills

Do not run your business with skills that are out-of-date.  Make it a point to examine your skills, invest in yourself and read a book you would never buy. Always challenge yourself to grow. My motto is “Grow yourself to grow your business.”

Rebrand Your Business

Use the fourth quarter to rebuild your pipeline by rebranding your business.  Fall is perfect time to develop a new direct mail piece, email blast, or e-newsletter to contact your current and potential customers

What goal do you still need to accomplish?

WANT TO USE THIS ARTICLE IN YOUR EZINE, E-NEWSLETTER OR WEB SITE?  You may, as long as you include this complete blurb with it:

Melinda Emerson is a Veteran Entrepreneur, Small Business Expert and Social Media Coach who hosts #SmallBizChat on Twitter.  #SmallBizChat is the trusted resource on Twitter to discuss everything entrepreneurs need to know about launching and running a profitable small business.  Melinda’s first book, Be Your Own Boss in 12 months; A month-by-month guide to Start a Business that Works! is scheduled to be released by Adams Media in early 2010.

If you’re ready to start or grow your small business subscribe to Melinda Emerson’s blog. www.succeedasyourownboss.com

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