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The Minority Entrepreneur Accelerator Program Could Be Your Answer

by Melinda Emerson on June 8, 2011 in Become Your Own Boss Tips, Branding & Marketing, Business Inspiration, BYOB2011, Cash Flow & Finance, Customer Service, featured, Grow Your Business, My Recommendations, Social Media, Technology, Your Small Business

Comcast Interactive Capital, the venture capital affiliate of Comcast Corporation, one of the world’s leading media, entertainment and communications companies, today announced that is has partnered with DreamIt Ventures (“DreamIt”), the leading technology accelerator for entrepreneurs, to provide seed funding, training, mentoring and other benefits to five minority-led startups through DreamIt’s accelerator program. The partnership with DreamIt, entitled the Minority Entrepreneur Accelerator Program (MEAP), is Comcast Interactive Capital’s first investment initiative from the $20 million fund created by Comcast as part of the NBCUniversal transaction that is committed to expanding opportunities for minority entrepreneurs.

Comcast Interactive Capital and DreamIt are now accepting applications and will select five minority-led startups to participate in DreamIt’s three-month accelerator program taking place in Philadelphia this fall. The deadline for applications is July 8^th and the program will commence on September 9^th.

Kerry Rupp, Managing Director of DreamIt, said, “We are thrilled to have Comcast Interactive Capital as a partner and are looking forward to working with them. DreamIt is proud to provide assistance and opportunities to help entrepreneurs grow, and we know that Comcast will provide invaluable expertise and partnership to this process.”

MEAP will provide minority entrepreneurs with the opportunity to engage in an intensive, company-building experience. Applicants who are accepted into MEAP will be a part of DreamIt’s broader Fall 2011 initiative in Philadelphia and will be offered the opportunity to learn from, and be mentored by, recognized experts in marketing, brand building, business development, financial modeling, business plans, distribution and customer acquisitions. In addition, they will be provided with office space, working alongside the other startups selected and be provided with donated legal, accounting and administrative help. At the end of the three-month period, the startups will have the opportunity to pitch to venture capital and angel investors at a demo day in Philadelphia to secure further funding to create a sustainable business.

For details on how to submit an application for the Comcast Minority Entrepreneur Accelerator Program, please visit the DreamIt website atwww.dreamitventures.com/about/Comcast-MEAP.php.

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

Melinda F. Emerson, known to many as SmallBizLady is one of America’s leading small business experts. As a seasoned entrepreneur, professional speaker, and small business coach, she develops audio, video and written content to fulfill her mission to end small business failure. As CEO of MFE Consulting LLC, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. Forbes Magazine recently named her one of the Top 20 women for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog www.succeedasyourownboss.com Melinda is also the author of the national bestseller Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works. (Adams Media 2010)

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Are you Google-able?

by Melinda Emerson on June 6, 2011 in Ask Smallbizlady, Become Your Own Boss Tips, Branding & Marketing, Business Inspiration, featured, Grow Your Business, How to Start, Social Media, Technology, Uncategorized, Your Small Business

google logo

If you’re ready for a midcareer makeover, you can get new clothes and a new haircut. But even more important, you must make yourself what I call “Google-able.” That means you need to create a smart social media footprint.

By day I work as a small-business coach, and I keep coming across amazing professionals with extraordinary credentials who want to build a consulting practice or establish themselves as thought leaders in their industry.

But here’s the problem: When I put their names in Google, I come up with nothing. No website, no social networking profile — not even a guest blog post. These people may have advanced degrees and impressive titles on their resumes, but there is no electronic evidence of their expertise and accomplishments. Since this has happened several times over the last few weeks, it dawned on me that I needed to help fellow midcareer folks understand this new paradigm.

Gone are the days of calling around to get the 411 on a potential business partner or new hire. These days, people do an internet search before you ever get a call about a new opportunity. Recruiters and corporate executives routinely conduct internet searches when looking for talent and don’t always advertise open positions. Many believe you don’t even exist if you don’t have a social media footprint.

Here are five essential steps to get started online.

1. Smile and click.

One of the key things you need prior to establishing yourself online is to get a professional headshot. Go ahead and spend money to get a good photo. It should be a smiling shot that is friendly. Even though you are communicating over the internet, people still want to see who they are talking to.

If you haven’t established an online presence yet, keep this in mind: You are using the skills you already know — how to communicate with people. Creating an online presence simply helps people find you. Think of it as your virtual business card, which is far more useful in 2011 than the paper variety.

2. Sign up at LinkedIn.

The first step to building your brand online is to stake your territory: One of the best moves you can make is to set up a profile on LinkedIn. Yes, you’ll also want to establish a Google profile and sign up for a Facebook or Twitter account, too. But LinkedIn is the most important.

“If you are looking to do anything in the professional world, LinkedIn is where you need to be. LinkedIn is the ultimate buyers’ market,” says Patrice Rutledge, author of Using LinkedIn.

Here are her top tips to make your profile shine on LinkedIn:

Add your profile and be sure to fill it out 100 percent. Your profile should use the appropriate keywords that your target audience would use to search for your expertise (including job title and certifications).
Use applications to enhance your profile (SlideShare presentations, Google presentations, portfolio display or box.net to add a resume).
A detailed company profile is important for a business owner. Be sure to link it to your personal LinkedIn profile.

3. Create a website.

The next thing you can do is register your name or your business name as a website domain and create a simple one- to five-page website. If you are interested in establishing yourself as a thought leader in your industry, adding a blog to your new website is a great idea.

I realize that this might sound intimidating, but it doesn’t have to be. You can register your own domain name and then hire a virtual assistant who specializes in social media to help you set it up. (By the way, a virtual assistant is an entrepreneur who assists business owners and busy people with time-consuming tasks, allowing them more time to focus on profit-generating activities.) With a few basic lessons, and time with tutorials, you can get going in no time.

4. Sign up for a Facebook account.

Cathy Larkin, founder of Web Savvy PR, conducts hands-on workshops to teach baby boomers how to use Facebook. Her clients often want to know what to talk about on their Facebook Fan Pages and how to create a good profile.

“I show people how to use Facebook rather than telling them how to do it,” Larkin says. “It’s all about figuring out what your intended audience wants to hear, learn or know about.”

She offers the example of a real estate agent who posted information about how to clear two feet of snow from your roof, which is much more creative — and useful — information than simply listing houses for sale.

Here are Larkin’s three tips for using Facebook Fan Pages:

Consider your keywords. Your domain name for your Facebook Fan Page should include keywords that people will use to search for you online.
Set your Info page as your default page. If someone visits you on Facebook, they will quickly get a sense of who you are and what you do (and hopefully fan your page).
Upload photos and online videos. It’s a great way to promote your products or services and add rich content to your Facebook Page.

5. Don’t forget Twitter.

Thomas MacEntee, the 48-year-old founder of High-Definition Genealogy, says its best to think of social media as a garden you have to tend.

Laid off from his tech job in Chicago in late 2008, MacEntee reinvented himself as a family historian — helping people investigate their family trees — and utilizes social media to connect with clients. It took MacEntee about a year to build his business.

He’s been so successful mastering the intricacies of Twitter — the free service that allows users to share information in 140 characters or less — that he now teaches a social media class for baby boomers called “Twitter: It’s not just what I had for breakfast anymore.”

He says the key to Twitter is giving as much as you get, and listening as much as you speak. He says some boomers have a problem with these concepts. “They think they are giving away their work for free, but it’s part of building yourself as a brand and an expert,” says MacEntee.

Here are some action steps to get you started building your online brand.

Decide what you wish to accomplish before using social media. Are you looking for a new work opportunity or simply want to connect with others who share a special interest or expertise?
Figure out who your audience is and where these folks hang out online. (You want to be as specific as possible in targeting your efforts.)
Create your LinkedIn account immediately. Add a great photo, import your contact database from your e-mail and join one group.
Expand to your own website, Facebook and/or Twitter.
Start developing a list of potentials blog topics. It’s a good idea to developed an archive of blog posts at least three months prior to launching your blog.
Remember that social media marketing is a marathon, not a sprint. You will get out of it what you invest in it.

If you follow all of these tips, when someone types your name into the world’s most famous search engine, they will immediately have your virtual business card — and so much more — right at their fingertips.

Melinda F. Emerson, known as the SmallBizLady, is an entrepreneur, professional speaker, small business coach and the author of Become Your Own Boss in 12 Months. In 2010, Forbes magazine named her as one of the Top 20 Women for Entrepreneurs to Follow on Twitter.

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6 Things Oprah Winfrey Taught Us About Business

by Melinda Emerson on June 5, 2011 in Become Your Own Boss Tips, Before You Start, Branding & Marketing, Business Inspiration, Customer Service, Grow Your Business, How to Start, Women in Business, Your Small Business

Oprah Winfrey is my hero. I never thought about being an entrepreneur until she got on my radar when I was in college in the early 90’s. It was around that time that she opened Harpo Studios in Chicago, making her the third woman in the American entertainment industry (after Mary Pickford and Lucille Ball) to own her own studio. She immediately went from being just a daytime talk show host to becoming a media mogul. And it was awesome to watch. The biggest thing she did for me was show me that I could do it too. I have studied her every move in business. I had an Oprah file for a year before starting my production company in 1999. Any article I could get my hands on about her business I would devour, print and keep. What I love about her most is that she has never been about goals. Oprah Winfrey has always been about growth. She has constantly evolved. That and her business acumen will leave a lasting legacy to all business owners to come. Here are 6 Things Oprah Winfrey taught us about business. 1. Find your calling. Oprah said in her final show that every day she walked on stage she felt that she was exactly where she was supposed to be. If you have no life plan, you are most likely following someone else’s agenda for your life. Live on purpose! Don’t be one of these entrepreneurs with an endless to do list, exhausted at the end of day– getting nowhere fast and not making any money. Oprah urged us to follow our own truth. God speaks to us though visions and dreams. Pay attention to what he is showing you about your destiny and build a business around that. 2. People show you who they are the first time. If a prospective customer approaches you, acting like an impossible nightmare, that is exactly who they are and how they will behave if you move forward in business. Do not allow your need for money or a contract force you to tolerate someone who does not value your professional expertise. You will never be paid enough money to make it worth it. 3. Oprah owned a broad niche. Oprah targeted a demographic that was women of all ages and income levels. She developed shows that would appeal to career women, working moms, stay-at-home mothers, grandmothers, retirees, high school and college students. And her audience was loyal because she helped them be better, live better, and find a correct fitting bra. 4. OWN your mistakes. In the wake of disappointing ratings at OWN, The Oprah Winfrey Network, Oprah’s latest venture in partnership with Discovery Networks, Oprah made a change at the top. Network head Christina Norman, abruptly left the 4-month-old cable channel at the beginning of May. How many of us wait until it’s too late to make changes in our businesses? Evaluate what is going on in your business and do not be afraid to change course if you need to. 5. Know that you are worthy of success. Often times we know what we deserve, but the thing that keeps us from truly capturing it is internalizing that we are worthy of all God has for us in our lives and businesses. 6. Be willing to do what it takes. Oprah never missed a day of taping on her show in 25 years. She knew that showing up was the most important element in her success equation. Are you willing to do all that it takes to make your business a success? I have begun to reach major success in my business, but I started being your SmallBizLady in 2007. There is no such thing as overnight success. What lessons have you learned from Oprah in your small business? For more tips on how start or grow your small business subscribe to Melinda Emerson’s blog http://www.succeedasyourownboss.com. Melinda F. Emerson, known to many as SmallBizLady is one of America’s leading small business experts. As a seasoned entrepreneur, professional speaker, and small business coach, she develops audio, video and written content to fulfill her mission to end small business failure. As CEO of MFE Consulting LLC, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. Forbes Magazine recently named her one of the Top 20 women for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog www.succeedasyourownboss.com Melinda is also the author of the national bestseller Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works. (Adams Media 2010)

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Blogging, & Handling Corporate Inquires & Monetizing your Online Brand.

by Melinda Emerson on June 3, 2011 in Ask Smallbizlady, Become Your Own Boss Tips, Business Inspiration, BYOB2011, Customer Service, featured, Grow Your Business, My Recommendations, Social Media, Technology, Women in Business, Your Small Business

Check out this quick video from the Black Enterprise Entrepreneurs Conference. Fellow blogger Jewel Figueras of http://www.JewelsFabLife.com was interviewed by LaShanda Henry creator of SistaSense blogs for entrepreneurs and the Black Business Women Online Social Network.

http://www.sistasense.tv/smallbizlady-and-jewelsfablife-talk-blogging-and-working-with-brands-part1/

We discussed blogging, handling corporate inquires and monetizing your online brand. Enjoy!

I’m always here as a resource.
If you have a question for Melinda Emerson, SmallBizLady, leave a comment on this blog using thecontact us page or send me a note on Twitter @smallbizlady, on Facebook atwww.facebook.com/smallbizlady or you can hit me up on www.linkedin.com/in/melindaemerson

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4 Things All Entrepreneurs Should Do On LinkedIn

by Melinda Emerson on May 31, 2011 in Ask Smallbizlady, Become Your Own Boss Tips, Before You Start, Branding & Marketing, Business Inspiration, featured, Grow Your Business, Social Media, Solopreneurs, Women in Business, Your Small Business

Linked in Logo

LinkedIn is important! 75% of all professionals in the US have a LinkedIn profile, which means if you want to do business you must have one too. LinkedIn is powerful tool that you can use to promote yourself if you are an individual consultant or a company with 2 or more employees. Here are my four tips that all entrepreneurs should do on LinkedIn.

Make sure your profile is 100%: If you do not have a headshot, please add a profession one. Typically, business owners who are not 100% lack recommendations. Look at your connections and ask at least three people to write why they love doing business with you. To make it easy, write the recommendation for them. This might be rough, but go ahead and do it. Actually, you should get in habit of asking anyone you interact with to give to a recommendation. I have over 47 recommendations and counting, you can never have too many.

Know Your Keywords: Your keywords should be spread across your profile. First your description of who you are should include keywords that your target customer would use to find you on the internet. Your summary and skills should also be peppered with keywords. This will also help you appear higher in Linkedin searches for experts.

Join LinkedIn Groups: You can join up to 50 groups on LinkedIn. You should join at least 10 groups that have your target customer in the group. You should have a strategy for how you will engage and attract members of the group to connect with you. Many groups allow fellow members to connect even though you do not know each other.
Answer Questions: One of best ways to standout in LinkedIn is to answer questions. It should become a part of your social media routine. Try to answer two to three questions a week and see how many new connections you will make for your business.

LinkedIn is a powerful tool and a great way to connect with decision makers. Make sure you are in the best position to promote yourself and your business online. Do you have any other LinkedIn secrets to promote a small business? For more tips on how start or grow your small business subscribe to Melinda Emerson’s blog http://www.succeedasyourownboss.com.

Melinda F. Emerson, known to many as SmallBizLady is one of America’s leading small business experts. As a seasoned entrepreneur, professional speaker, and small business coach, she develops audio, video and written content to fulfill her mission to end small business failure. As CEO of MFE Consulting LLC, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. Forbes Magazine recently named her one of the Top 20 women for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog www.succeedasyourownboss.com Melinda is also the author of the national bestseller Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works. (Adams Media 2010)

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The Fortune is in the Follow-up

by Melinda Emerson on May 23, 2011 in Become Your Own Boss Tips, Branding & Marketing, Business Inspiration, Customer Service

The choice to succeed as your own business is an exhilarating concept, and it comes with a price tag. There are endless responsibilities and tasks that must be taken care of and all of the pressure is on you. To choose to succeed as your own boss, it is absolutely vital you prime your network for awareness of your business and referrals for your services. The fortune is in the follow up.

The focus must be on sharing your experience, casting your vision, listening to others, getting out and networking. Connecting and interacting as frequently as possible with prospects is important and learning how to ask for referrals. You must focus always on casting the vision of your growing business while being present in the moment of relationships as well. Not only do you want to do this while the small business is up and running, but you want to plan and engage in this at least 12 months before launching the business. Communication and engagement are two powerful tools, learn to use them online and off.

The big mistake a lot of entrepreneurs make is only talking with customers or prospects when they are looking for more business. Clients referrals are important, but they are best obtained by excellent service or product offerings. If you as the business owner cross the line of too frequent requests for referrals, clients will quickly tire of being asked. The fact is your current customers and clients are who helping you keep your business on track, the relationship you share with them is essential to your continued success. Clients and customers are always willing to share their experience…whether its a good one or a difficult one. Make their experience with you count.

Competition for every service or business is at a ridiculous level online. Scarily, you are not the only person online offering the product your small business has to offer. You may not be the lowest price, your products may not be the biggest or the best, however, if you know your audience, and their needs, your business will stand out and shine. Your relationships, your delivery of service, your accessibility on line and off are the keys to your future. Smart phones make the management of presence accessible for individuals, even when you are the only staff in your organization, it is an important skill to learn.

People buy from people they trust and respect. We are far more likely to buy from a friend than a stranger. The same holds true for your customers and prospects. They want to know the person they are buying from cares about them, their needs and their wants.

Start networking and interacting online and off each day through your words, your tweets, your posts and your conversations. You are choosing to succeed as your own boss, you will choose to build from the ground up starting with the interaction process. Jump into forums whether on Linked In, online communities or local conversations on a daily basis. Friend request as many prospects as possible on Facebook. Share your two cents of sense on blogs, use services that link those comments back to your business and let people know who you are.

Engaging with people online and off in business means intentional presence. Be present on blogs, on Facebook, on Linked In. Be interested in prospects needs, study their processes, encourage their success. The highest form of prospecting involves truly engaging in their space and sharing your own space with them. From there, make it a point to send emails frequently even if it is simply to say hi or have a good weekend. People care about those who care about them. It sounds like an incredibly simple strategy, but you would be surprised how much of an impact nurturing your network in the pre-stages, during your first year and throughout the life of your success as your own boss.

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Should I put my picture on my business card?

by Melinda Emerson on May 20, 2011 in Ask Smallbizlady, Become Your Own Boss Tips, Branding & Marketing, Business Inspiration, BYOB2011, Customer Service, Grow Your Business, My Recommendations, Q & A Interview, SmallBizChat, Solopreneurs, Your Small Business

Ask @SmallBizLady: Should I put my picture on my business card?

Every Friday, I answer your small business questions in a video blog segment called Ask Small Biz Lady. This week, we are taking on the question: “Should I put my picture on my business card?”

Here’s the answer: http://www.youtube.com/watch?v=OKXIfQM-Kn4

If you are a solopreneur or a brand of one person with a business you can use your picture on you business card. Particularly if your business involves visual branding such as photography, make-up artist, stylist it could make sense to use your photo on your business card to promote your business. It could also work will for speaking and coaching businesses, financial services or if you a real estate agent. You just need to have a reason for using your photo on your business card.

For the record, I do not use my photo on my business card. My book is on my business card instead.

If you have a question for Melinda Emerson, Small Biz Lady, leave a comment on this blog using the contact us page or send me a note on Twitter @smallbizlady, on Facebook at www.facebook.com/smallbizlady or you can hit me up on www.linkedin.com/in/melindaemerson

I’m always here as a resource.

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Army of Entrepreneurs: Create an Engaged and Empowered Workforce for Exceptional Business Growth by Jennifer Prosek

Do you have an Army of Entrepreneurs in your company?

by Melinda Emerson on March 30, 2011 in Business Inspiration, Grow Your Business, My Recommendations, Your Small Business

Author Jennifer Prosek thinks that’s what you need to build long term success. She’s the founder and CEO of CJP Communications, an award-winning international public relations and financial communications firm. In her new book, Army of Entrepreneurs: Create an Engaged and Empowered Workforce for Exceptional Business Growth (AMACOM 2011) , Prosek teaches businesses how to inspire and motivate their employees to think like entrepreneurs to ensure the optimal success in the business. The two things that stood out in this book to me was how Jennifer proved with her own business how to emerge from a financial rut by engaging her company’s employees to solve problems. I was also intrigued by her Commission for Life™ incentive program. Too often entrepreneurs think they have to do all the rainmaking, but Prosek contends this is not so. Here’s a recent interview I had with Jennifer Prosek to get more insight into her new book, Army of Entrepreneurs:

Smallbizlady: What is an ARMY OF ENTREPRENEURS?

Jennifer Prosek: An Army of Entrepreneurs is an internal force of committed, creative employees. It is also a proven management and leadership model that can help business owners and managers grow their businesses by tapping and harnessing their existing workforce. There’s a replicable process for introducing and implementing the Army model in any organization and the best part is that the assets needed to initiate this new model are already in place – since they are your current employees.

Smallbizlady: How did the strategies that worked for your firm evolve into the management model you share in your new book?

Jennifer Prosek: Once I successfully deployed this on my own company, employee confidence and satisfaction soared. Identifying, nurturing, and watching the entrepreneurial spirit grow within my company has been a source of great pleasure to me both personally and professionally.

At CJP Communications, the Army model has helped to forge stronger teams, increase sales and client satisfaction, and develop employees who truly embrace the company’s brand. I know that it can do the same for other companies if they follow the roadmap outlined in the book.

Smallbizlady: How does this management model inspire and empower employees to develop an “owner’s mindset?”

Jennifer Prosek: With innovation and creativity driving the new economy, human capital has never been more important. But old management models don’t truly encourage the kind of entrepreneurial thinking needed for success. That’s where the Army model comes in. Every employee is empowered to develop an “owner’s mindset” and use his or her own resources and initiative to help the business succeed. That may mean coming up with a new product, a breakthrough idea for a client or a streamlined process. The unifying idea is that each person becomes a powerful force for growth within the organization.

Smallbizlady: What are the four key steps entrepreneurs need to take to lay the groundwork for creating a business environment and culture conducive to entrepreneurial behavior in order to increase growth and drive success?

Jennifer Prosek: The Army of Entrepreneurs model is comprised of four key components including an entrepreneurial culture; a powerful incentive program; a workforce that has a big-picture understanding of how a company works and makes money; and an ongoing program to maintain momentum. Specifically, to create an Army of Entrepreneurs business leader needs to follow the below steps:

a. Establish and nurture an entrepreneurial culture. Culture isn’t optional. To truly build an Army of Entrepreneurs, companies must have the right practices and outlook. The four elements of a core culture are authenticity, commitment to people, commitment to the business, and continuous effort.
b. Create a Commission for Life™. At CJP, any person who sets up a meeting that leads to new business – that’s it, just sets up the meeting – receives a 5 percent commission for the life of that account. While this is a cash reward, any ongoing incentive works. The idea is to create a reward that enables employees to align their own financial/professional goals with the growth/success of the company.
c. Teach them the business. While many businesses are focused on teaching employees the skills they need to do their jobs, an Army approach is focused on “teaching the business” – how it makes money, where clients come from, why they stay or go and other big-picture issues.
d. Maintain momentum. Building and sustaining an Army of Entrepreneurs and the culture that sustains it takes ongoing effort, initiative and originality. It’s critical to maintain momentum; inertia is the enemy.

Smallbizlady: You stress the importance of giving everyone in a company a financial incentive to embrace entrepreneurial behavior. Please explain how your “Commission for Life™” program does this, and why it works?

Jennifer Prosek: The crux of the Army strategy is to create an incentive that rewards the employee and helps align his or her personal and professional goals with that of the company’s. To kick-start the Army, I introduced the “Commission for Life™” program, in which the employee who sets up the first introductory new-business meeting—which turns into a full-fledged client account—receives a percentage of the revenue for the life of the business relationship. This “nudge” is essential to lighting a fire under your staff.

The reason this program works so well is that it levels the playing field and gives everyone at the firm from an executive assistant all the way up to the CFO the same opportunity to leverage their network of contacts to help drive the company’s growth. It also increases their individual financial situation and status at the agency.

Smallbizlady: Outside of financial incentives, what else can companies do to give employees at all levels a “nudge” towards embracing their entrepreneurial potential?

Jennifer Prosek: For some, the best incentive may be strictly financial. For others, it may involve more autonomy, creative control, or public acknowledgment of their good entrepreneurial ideas and behavior. The idea is to create an ongoing reward system that enables employees to align their own professional goals with the growth/success of the company.

While this book does focus a lot on what larger firms can do to become entrepreneurial, I do think there’s a lot of value for entrepreneurs. Grab your copy of Army of Entrepreneurs today.

Melinda F. Emerson, known to many as SmallBizLady is one of America’s leading small business experts. As a seasoned entrepreneur, professional speaker, and small business coach, she develops audio, video and written content to fulfill her mission to end small business failure. As CEO of MFE Consulting LLC, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. Forbes Magazine recently named her one of the Top 20 women for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog www.succeedasyourownboss.com Melinda is also the author of the national bestseller Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works. (Adams Media 2010)

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Ask SmallBizLady: What’s the Best Business Advice I’ve Ever Gotten?

by Sonia_YJMO on March 25, 2011 in Ask Smallbizlady, Business Inspiration

Every Friday, I answer your small business questions in a video blog segment called Ask SmallBizLady.

This week, we are taking on the question: What’s the best business advice I’ve ever received?

Be good to your customers!
It’s cheaper to keep a customer than to find a new one.
Keep in touch with your customers.
Ask for referrals.
Be sure to thank your clients for the opportunity to do business with them.

I’m always here as a resource.

If you have a question for Melinda Emerson, SmallBizLady, leave a comment on this blog using the contact us page or send me a note on Twitter @smallbizlady, on Facebook at www.facebook.com/smallbizlady or you can hit me up on www.linkedin.com/in/melindaemerson

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Ask SmallBizLady: How Do I Stay Motivated as an Entrepreneur?

by Melinda Emerson on March 18, 2011 in Ask Smallbizlady, Business Inspiration

Every Friday, I answer your small business questions in a video blog segment called Ask SmallBizLady.

This week, we are taking on the question: How do I Stay Motivated as an Entrepreneur?

I think there are three things you need to help you stay motivated as you run your small business!

1) Only have positive people who support you in your circle

2) Create a vision board for your big picture goals

3) Pick a personal theme song and have it cued on online, in the car, and on your MP3 player of choice so that you can get a quick pick me up when you need one.

(By the way, my theme song is Golden by Jill Scott)

If you are Ready to Start or Reinvent Your Small Business? Join @Smallbizlady live in Philadelphia April 2nd for BYOB2011 Register here http://byob2011philly.eventbrite.com/

If you have a question for Melinda Emerson, Small Biz Lady, I’m always here as a resource.Leave a comment on this article, send a message using the contact us page, tweet me – @smallbizlady, on Facebook or you can hit me up on LinkedIn.

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Are You Ready to Get Serious About Your Business?

by Melinda Emerson on March 16, 2011 in Business Inspiration, Grow Your Business, Your Small Business

I meet people all the time who will offer me their business idea as soon as they hear I’m a small business coach.

I have heard it all, and here’s a secret – everyone has good ideas. I rarely hear a business concept that I think is terrible. Most people walk around with those ideas without a real plan to start their business. And in the rare case that they’ve already started their business, chances are the business is running them, for without a plan they are surely not running it. If you are anywhere near Philadelphia, you need to come hang out with me April 2, 2011 for BYOB2011.

You know as Smallbizlady, my mission is to End Small Business Failure and now I’m hosting BYOB2011, a live conference in Philadelphia 9am-3pm at Community College of Philadelphia to get you on the right track with your small business. I’ll walk you step-by- step through the Emerson Planning system: Life plan, Financial Plan, Validating the Business Concept, Marketing Plan and Business Plan. I also have some special guests stopping by to help you launch and reinvent your business the right way.

Lolly Daskal @LollyDaskal will kick off the day talking about how to lead from within, with the right mindset to start your small business. Lolly believes that each of us is gifted with an inner voice that leads us. She believes that each voice, when heard, allows our true gifts to surface, to empower us, to lead us to our best life. Lolly affirms with those she works with that they indeed have what it takes to reach the next level.

Amy Larrimore @AmyAllStar from SCORE will talk about the financial aspects of starting a business. Amy’s specialty is getting to A from B efficiently, effectively, accurately while getting the most bang for your buck. Her expertise includes all manners of strategic business analysis and technology solutions. You’ll love her.

But wait, there’s more! Stay tuned, I have other special guests who will join us; look for another announcement here on Friday.

Special Bonus: The next 10 people who register for BYOB2011 will get a free copy of my life planning journal http://bit.ly/dWc4H5

No joke – we’ll be hanging out at our Tweetup on April Fool’s Day– April 1^st at 6pm at TGI Friday’s on Ben Franklin Parkway.

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Help @Smallbizlady, My Client Doesn’t Value My Expertise

by Melinda Emerson on March 14, 2011 in Business Inspiration, Grow Your Business

Dear Smallbizlady,

Whenever I try to give professional advice to my client, she dismisses my opinions and goes with her own ideas.

What should I do?

If you know that you are an expert and that your advice is sound, do not allow your client’s behavior to weaken your confidence in your business. Instead, examine whether your communication style is the problem. Does she perhaps prefer to receive information and opinions in writing backed up with a lot of details? You need to understand how you can work best with her particular idiosyncrasies.

I once had a client who told me, “There’s not a problem just because you say it’s a problem.” At first, I was taken aback by her statement, but then I realized that she wanted me to provide her with a better explanation about why there was a problem. I assumed that she would just trust my opinion, since I was the expert she hired. We all know what happens when you assume something.

Next, look specifically at your dynamic with your client. Is her lack of respect for your opinions causing you to become resentful, making matters worse? Email communication is always a bad idea when a relationship is going south. A conference call is good, but a face-to face meeting to clear the air is always best.

If you continue to feel underutilized, be extremely pro-active in doing what’s expected of you. Over communicate for clarification about assigned tasks and completed assignments.

Ultimately, if you’re unable to change your client’s attitude towards you, may need to renegotiate the nature of your working relationship. In other words, move on. The next time you get a proposal request make sure the dollar figure exceeds their budget, and they will not call you again.

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

Melinda F. Emerson, known to many as SmallBizLady is one of America’s leading small business experts. As a seasoned entrepreneur, professional speaker, and small business coach, she develops audio, video and written content to fulfill her mission to end small business failure. As CEO of MFE Consulting LLC, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. Forbes Magazine recently named her one of the Top 20 women for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog www.succeedasyourownboss.com Melinda is also the author of the national bestseller Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works. (Adams Media 2010)

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Ask SmallBizLady How Can I Take My Small Business to the Next Level

by Melinda Emerson on February 25, 2011 in Ask Smallbizlady, Business Inspiration

Every Friday, I answer questions on my blog in a segment called Ask Small Biz Lady and will post video answers to frequent small business questions. This week, we are taking on the question How Can I Take My Small Business to the Next Level?

Check out this video for the answer

Develop a specialty niche: Look at your business and see if there’s a niche market that you can specialize in; i.e. if you are a graphic designer how about specializing in developing educational materials?

Develop signature content: Blogs, special reports, a niche website for your specialty niche market. Demonstrate your expertise and knowledge to your target customer.

Build a team: It’s hard to sell your skills as an army of one. That’s too much risk for a large or corporate customer. Build strategic alliances and develop partnerships with competitors to secure larger pieces of business. 50% is better than waiting for your phone to ring.

If you have a question for Melinda Emerson, Small Biz Lady, I’m always here as a resource.

Leave a comment on this article, send a message using the contact us page, tweet me – @smallbizlady, on Facebook or you can hit me up on LinkedIn.

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Book Interview: How They Did It: Billion Dollar Insights from the Heart of America

by Melinda Emerson on February 23, 2011 in Business Inspiration, Your Small Business

This is a Q&A from my interview with Robert Jordan author of How They Did It: Billion Dollar Insights from the Heart of America (RedFlash Press, www.HowTheyDidItBook.com). Robert has been launching and growing companies and helping other entrepreneurs do the same for the past 20 years. His book is a collection of interviews from 45 leading founders who created $41 billion from scratch. His newest endeavors are RedFlash project implementation team, a worldwide network of interim, contract, and project executives.

Smallbizlady: What gave you the idea for this book?

Robert Jordan: I was waiting in the SeaTac airport in Seattle for a flight, reading a book of quotes I found in a bookstore (it’s a great airport). I had a thought – wouldn’t it be great to read a book of quotes from entrepreneurs who had hit home runs – and learn how they did it. The generic quote book I was reading was ok, but not specific for what would have really inspired me as an entrepreneur. So when I came home I approached some VC investor friends with the idea (not asking them for money, just wanted their opinion because they knew lots of entrepreneurs), and the added idea that I’d like to invite these champion company founders to an event where we would multi-author the book in 90 minutes. It didn’t work out quite that neatly in the end, but the event did occur, at the Four Seasons Hotel in Chicago, and 21 of the 45 founders were there.

SmallBizlady: How did you pick the company founders you spoke to and was there criteria you used for the companies you included?

Robert Jordan: I set criteria that a founder had to launch/grow/sell for $100mm or more or go public for $300mm or more. I did this with the help of an informal committee of these VC friends. I went to Goldman Sachs, William Blair and Dow Jones to ask them to help screen companies, and from their databases I then hired a bunch of Northwestern University undergrads to help me screen founders. After a year of that we had a list of folks to invite to the Four Seasons event. This was not a rigorous/academic approach – I broke my own rules. For example, Viresh Bhatia from Installshield sold for $78mm. And we decided to not include a number of founders who were, frankly, not inspiring. The emphasis was on technology and innovation; we did not consider real estate, hedge funds, that sort of thing. Nothing against those home run hitters – we just wanted to focus on very hard stuff not expected outside of Silicon Valley.

Smallbizlady: Many of the interviewees aren’t well-known and, you point out yourself, some are actually reclusive. Is there any insight in that about people who really score success?

Robert Jordan: I think so. There seems to be a pattern of quietly going about your work, be great at execution, don’t focus on self and ego. Mahendra Vora said of course you have to have ego to do these great things, but not to the point that you cannot see and act on your mistakes, or recognize other people for their own great work. Also: one of my biggest conclusions is that none of these founders did it alone. Success is never a solo act. Even for solitary founders, the only way they hit it big was by developing partners and/or incredibly capable management teams.

Smallbizlady: Why did you choose to focus on technology businesses?

Robert Jordan: Because there could be a perception in the world that the only valuable tech development has to or must occur in Silicon Valley. And that just is not true. And it becomes more interesting to learn from quiet, unsung heroes than the usual subjects. And because most aspiring entrepreneurs in the world are not in SV and never will be – it becomes another facet on inspiration. You can see other people in obscure places who didn’t give up, didn’t blame their surroundings (Mary Engelbreit’s line from her greeting cards – bloom where you are planted). The number one billionaire in the book, Dane Miller (Biomet, $12 billion company value when taken private in 2007) started Biomet in Warsaw, Indiana, and he’s still there, and he’s still unknown. On USA Today’s 25^th anniversary they ranked the 25 best performing companies over the past 25 years. Dane is #7: 30,000% growth. Warren Buffet is #20: 19,600%. Dane almost doubled Berkshire Hathaway’s performance. Not on a whim…but over the course of 25 years.

My guess is that most people consider Google and Facebook the 2 most important tech companies in the world at the moment. The next 2 could be Twitter and Groupon, and Twitter’s CEO Dick Costolo is in the book, as is Groupon’s co-founder Eric Lefkofsky. (Costolo was not the founder of Twitter but even the quiet guys can score home runs.)

Smallbizlady: Is there one core value you feel is the strongest and most important factor in your personal achievements.

Robert Jordan: Integrity.

Smallbizlady: Do you believe there are some unique qualities that are inherent in all of those individuals who built a great fortune for themselves?

Robert Jordan: My biggest conclusion from this is that for massive success you have to take a leap. You have to take risk. This sounds obvious, but in reality, what most of us do is avoid failure. We think we’re taking risk when we do small things, and act incrementally. These folks did not get to multi-million and billion dollar valuations by failure avoidance. It just doesn’t work. They each have one or more points when there was a distinct decision to make a leap, and the results were not known upfront. Actually I think overall these founders struck out far more than most business people. They just did something very different from most people with those failures. A related quality: they are all very passionate about what they do.

Smallbizlady: What advice did you glean from your interviews about how to best go about funding a business?

Robert Jordan: To be more patient (Joe Mansueto’s advice).

- To stop thinking that anyone could become a success overnight, because that is completely a false notion, and in fact all self-made founders hit the wall one or more times.

- To not take money at any price, because once you are diluted down by selling equity too cheap, you can’t get it back (Michael Polsky).

- To think about more options for funding, to never rely on one source alone (Vince Pettinelli; and Jim Dolan talking about always doing one more thing; always have a “hot standby”).

Smallbizlady: Another key issue is hiring. What was some of the best advice you heard about that?

Robert Jordan: Joe Piscopo (Pansophic) said if he could have hired better he could have been 10x bigger, and that 75% of failures relate to poor hiring.

- Mahendra Vora (Intelliseek) said you first train your core team of 5 managers, and when you do that well, they train the next 25, and when they do that well they train the next 125, and that’s how success occurs.

- Raj Soin (MTC) said he trained his managers to not think first of their customers but to primarily think of the employees, because the employees would create success with the customers – not the managers.

- David Becker (First Internet Bank) said it was hard because sometimes early employees could not stay at fast growth companies – just no longer a fit. But when he developed a core team that was outstanding, he took them from one startup to the next. Becker’s line reminded me of Andrew Carnegie’s quote about taking away all his steel mills, it wouldn’t matter, just give him his team and he could reproduce the same success in any other industry.

Smallbizlady: What are the most common mistakes start-ups make, and how can we avoid them?

Robert Jordan: 1) Trying to avoid failing is a mistake. Instead: look at each failure and see if that could be the source of the real home run. Another big revelation: most home runs were because of Plan B, not the original plan! Bill Merchantz’s software company had a spectacular failure, software that crashed on a big client. They worked feverishly to restore functionality and invent disaster recovery software. In the end the client left. But the big win? The disaster recovery software was, not the original product.

2) Hiring the wrong people is a mistake. One piece of advice from Howard Tullman: founders should never do the hiring, because we entrepreneurs are in love with our products and can’t stop talking. Smart candidates sit there, nod, don’t say a word, entrepreneur falls in love with them, they get hired. Big mistake. Delegate hiring. Joe Piscopo said first order of business for a CEO: take up to date courses on hiring.

3) Not being willing to give up control is a mistake. This is NOT the same thing as giving up equity. Big success is never a solo act. Great founders develop partners and/or great management teams without fail.

4) Complacency is a mistake. Champions always do one more thing; have one more backup, one more Plan B. How many times have you heard about a company that, gee, they came so close! But they just missed because of the Internet bubble bursting, or the recession, or… The experience of these founders is not that they didn’t hit obstacles – they did. They just kept moving.

5) Designing the “perfect” product is a mistake. Especially in technology, things move too fast, and the attempt for perfection can mean completely missing the market. Only by being in the market can you improve, learn, and eventually make something great.

Smallbizlady: What practical advice do your founders offer for the average person to do well in life?

Robert Jordan: Be passionate about what you are doing! I realize that may sound idealistic, but I noticed throughout the interviews a near-total lack of cynicism. And my own experience with a lot of startups is that passion is the first determining characteristic of founders who get funded. Being passionate is contagious.

You can grab this book today on Amazon. For more tips on how start or grow your small business subscribe to Melinda Emerson’s blog http://www.succeedasyourownboss.com.