What is the biggest struggle in any small business? Are you wearing too many hats? Yep, just what I thought. When you are a small business owner you immediately take on 10-14 jobs all at once, so it stands to reason that you might not do them all well. Sometimes, we all feel like “I AM THE BUSINESS!” But it is dangerous for a growing business to operate this way for too long. You will surely fail to maintain the business over time, not to mention you can lose your family and your sanity too, working yourself to death.

As small business owners we cannot do everything, so it’s time to consider what non-core activities you might be able to outsource. This will help you stop doing things you hate doing (and are probably not that good at) and it will free up your time to focus on the things you are really good at like selling and closing more deals.  It is smart to leverage the talents of others rather than trying to do it all by yourself. After all, your time is your most valuable asset in your small business. Here are the top five tasks to outsource in your small business.

Outsource Your Bookkeeping: Bookkeeping is the #1 task in small business that owners routinely neglect and struggle with managing in their operations. Do not let this happen to your small business. By the 15^th of the month, you need to know how well your business did last month so you can make any adjustments. By outsourcing your basic accounting services to a seasoned bookkeeper, you will have the ability to use updated financial information to run your small business. A bookkeeper can do your accounting work a lot faster and more accurately than you can, and it is affordable. Ask your tax preparer or another entrepreneur for a referral to the right provider. Stop getting your accounting done for the year at tax time; outsource your bookkeeping services today.

Outsource Your Payroll:  Unless you run an accounting firm, you should not be doing your own payroll. Listen, you can get in trouble faster with the IRS for not paying your payroll taxes properly than not paying personal income taxes. If you hire an outsourcing company to do your payroll, then you can rest assured that you and your staff will have no issue when income tax season rolls around at the beginning of each year. If you do the payroll in-house, then you need to stay on the top of rules for federal, state and local tax laws that often change. The fees to outsource payroll are not very expensive, so do yourself a favor, let a payroll service handle the deductions for withholding, social security, unemployment, and worker’s compensation. You can’t afford to make a mistake.

Outsource Your Social Media Marketing: There are plenty of solopreneur marketing consultants and social media marketing agencies that can handle developing your social media strategy, content development and social promotion for your company. When you perform these tasks in-house, you often fail to retain the consistency of doing them. Leverage the services of a 1099 consultant to handle this for you. I am pretty sure, if you hire the right person or firm, and give them a specific niche focus and strong message about your product or service, your marketing efforts will flourish over time. Just remember that social media is a long term strategy, so be prepared to invest 12-24 months to achieve your goals.

Outsource Your Administrative Support: Do you often feel like you wish you had another pair of hands to help you in your small business? Utilizing virtual assistants is a cost effective way to get routine tasks handled in a  business  You can use a virtual assistant for maintaining your personal schedule, database, preparing mailings, email newsletters, copy editing, blog maintenance, booking travel arrangements, invoicing, collections, voicemail & email management. You can even leverage a niche focused virtual assistant to do bookkeeping and receipt management. I have used Twitter and LinkedIn to search for qualified virtual assistants to support my small business.

Outsource Your Marketing Efforts: Marketing is the fuel of a small business. Your marketing efforts tie directly to your sales results. So if you are too busy working the business you already have to focus on closing the next sale, you need some help. Outsource your marketing efforts to a consultant or public relations specialist for your small business. Some marketing people will help you develop downloadable content for your website, conduct email marketing campaigns, some will focus on reaching out to LinkedIn contacts; they can handle direct inquiries or pitch you for speaking opportunities. They can also develop media pitches and monitor HARO for media opportunities.

Stop making yourself crazy trying to do all this stuff by yourself in your small business. If you outsource two or three of these functions, the consultant will pay for itself in no time. Do your research, check their references and ask for referrals from fellow small business owners before hiring anyone. Once you start outsourcing a few non-critical tasks in your small business, you’ll wonder why it took you so long to do it.

Outsource Key Showing Subcontracting And Freelance courtesy of Stuart Miles / www.freedigitalphotos.net

What tasks do you outsource in your small business?

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wednesday on Twitter from 8-9 pm ET. This is excerpted from my recent interview with @BrianMoran. As the founder and CEO of Brian Moran & Associates, Brian is dedicated to helping entrepreneurs to run better businesses. Brian is leveraging his 20+ years of experience in publishing magazines for business owners to assist entrepreneurs with everything from social media to accessing growth capital to expanding into the global marketplace. Visit his web site, www.smallbusinessedge.com

SmallBizLady: Is there a big difference between a small business owner and an entrepreneur?

Brian Moran: Huge! A small business owner is someone who would rather work for themselves than in corporate America. They want to be in charge of their own destiny. They want a work/life balance too. Their goals aren’t to open new locations or to go global. Many are “income substituters”. Their goal is to make the same money in their own business that they would make in a corporate job. Additionally, they will look at most purchases as “expenses” because the money is coming directly out of their pockets. Entrepreneurs are defined by their “aspirations”. They are all about growth. In their business plans, they write about hiring employees, opening new locations and entering new markets. Some will look for outside investors and almost all entrepreneurs look at purchases as “investments” rather than expenses. They believe in spending money to make money.

SmallBizLady: Is there anything in between the two groups?

Brian Moran: Yes. I believe there is a large group of passionate small business owners. People in this group don’t share the same aspirations as entrepreneurs, but they love what they do and actively seek ways to run better businesses. They will attend conferences, seminars and networking events. They use social media for business and proactively look to maximize existing opportunities. In some cases, such as professional services, they will hire additional revenue generators if they create enough demand for their services.

SmallBizLady: Do you think most business owners are #smallbiz, #entrepreneurs or passionate #smallbiz owners?

Brian Moran: Of the almost 28 million business owners in America, 22 million have zero employees. I consider the majority of these people to be true small business owners. I believe about 30% of the businesses with employees to be entrepreneurial companies. The rest are passionate small business owners.

SmallBizLady: How and when should business owners define themselves?

Brian Moran: The sooner the better. Entrepreneurship is as much about a mindset as it is about running a business. Business owners typically define their paths when they put their business plans together.  The operational plan acts like a GPS system. It guides you to your strategic goal. The more specific your operational plan, the less chance there is of getting knocked off course. Additionally, if you define yourself as a small business owner, you’re unlikely to make entrepreneurial decisions when you come to a fork in the road.

SmallBizLady: What are some of the forks-in-the-road that business owners come across and how does it help define you?

Brian Moran: Forks include: hiring a new employee, buying new equipment, opening new locations, entering new markets, raising capital, buying or merging with another company. These are issues mostly dealt with by entrepreneurs. A small business owner gets hurt when they take the path marked for entrepreneurs.

SmallBizLady: Do you recommend getting outside help in defining your business?

Brian Moran: Yes! In most instances, it pays to have an extra set of eyes on what you’re trying to accomplish. Whether you’re a small business owner or an entrepreneur, it behooves you to find an expert in your field to help you avoid the potholes and pitfalls along the path to success.

SmallBizLady: What free resources can you suggest for small business owners to get help that they might not be able to pay for?

Brian Moran: There are many local resources – SBA, SCORE, SBDCs, and Chambers of Commerce all have local chapters and offices around the country. Business owners can also go online to find help with these same groups as well as industry associations or even small business advocates and marketers such as @SmallBizLady’s website www.Succeedasyourownboss.com, OPEN Forum, Intuit, FedEx, Microsoft, Visa, UPS and others.

SmallBizLady: How do you know when it’s time reinvent your business or call it quits?

Brian Moran: The only way you can successfully reinvent your business is by taking a 20,000 foot view of your company. You need to see what the next 3-6-12 months look like. If you’re in a hole, how realistic are your chances of getting out of it? How does the future look for sales, expenses and the overall marketplace? If the 20,000 foot view doesn’t give you any successful options, then you should seriously consider calling it quits.

SmallBizLady: What are the top three success factors for small business owners?

Brian Moran: First and foremost, it’s having a business plan. I’m not talking about the one you present to a bank or VCs; rather a plan that shows you where you want to go (strategic goal) and how you plan to get there (operational plan). The second success factor is execution. You need to have the right team in place with enough resources to carry out your plan. Even if you have a plan, it’s only as good as the people who are executing it. The third biggest success factor for business owners is timing. You can have a great plan and a solid team to carry it out, but if you launched your company in January, 2008 then you couldn’t have picked a worse time to start a business. Take the necessary time to review the economic indicators for your particular industry.

SmallBizLady: All businesses go through cycles, what should you do when you are having a down cycle in your small business?    

Brian Moran: Do NOT panic! I recommend going back to the business plan and taking the 20,000 foot view. Did you see the downturn coming? Do you have a sense of how long it will last? Is the downturn affecting just your company or your entire industry? Whatever you do, don’t panic and make a bad decision based on little or no information. This is where you can do serious, possibly fatal, damage to your company.

SmallBizLady: So how should you prepare your business for a disaster?

Brian Moran: Even with recent disasters, both natural and man-made, almost half of all small businesses don’t have a formal disaster plan in place. When disaster strikes, many of the companies without any proper planning will go out of business. Here’s what you need to do: First, backup all your important files and information to the cloud. It does no good if you copy everything to an external hard drive and then leave it in your office when a tornado or hurricane hits it. Second, have a plan to work remotely if you’re out of your office for an extended period of time. This includes you and all of your key employees. Third, have an emergency drawer or even room set up at your business should you be there when disaster strikes. The set up should include flashlights, batteries, candles, matches, fire extinguisher and a basic tool kit and medical kit. For more information on preparing for disaster for your business, visit www.ready.gov. They have additional information on preparing your business for disaster.

You should also consider how you would continue to do business if disaster struck your largest customers, suppliers or partners. When Hurricane Sandy knocked much of the East Coast offline for weeks and months, tens of thousands of companies had to deal with customers who either went out of business or suspended business until they could get back on their feet. Look at your customer list as well as your list of partners and vendors. Are they concentrated in an area that deals with seasonal disasters such as hurricanes, tornadoes or fires? If yes, you should plan accordingly.

SmallBizLady: Any last tips for people trying to survive in business?

Brian Moran: First, define your business to help determine your path. You will find this extremely beneficial when you come to forks in the road. Second, have a business plan that acts like a GPS system so you never go too far off-course. Lastly, have a backup plan. It’s virtually impossible to strategize if the world around you is crumbling down. Stress-test your business plans with worst-case scenarios such as natural disasters, large customers going out of business, theft and more. Figuring out what to do AFTER disaster has struck is a prescription for disaster. It rarely ends well. One more tip – Love what you do and have fun every day. Life is too short for anything else.

If you found this interview helpful, join us on Wednesdays 8-9 pm ET; follow @SmallBizChat on Twitter. Here’s how to participate in #SmallBizChat: http://bit.ly/S797e

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 America’s #1 small business expert. As CEO of Quintessence Multimedia, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing to fulfill her mission to end small business failure. She writes a weekly column on social media for The New York Times. Forbes Magazine named her #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog http://www.succeedasyourownboss.com Melinda is also the bestselling author of Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works and the ebook: How To Become A Social Media Ninja; 101 Ways to Dominate Your Competition Online.

As a small business owner, the deck is stacked against you. Most businesses fail after the first five years, and even if you do hang in there, the chances of you becoming the next Facebook are really not very likely. 95 percent of all small businesses in the world never gross over 1 million in revenue, nor do many of them revolutionize their industry, net a profit, or change the way people do something. But even in the face of all of that, now is still a great time to start a business. The world is still waiting on a better mousetrap. Technology has made it so much easier to do business and run your company from anywhere. The challenge is that your competition can do it too, and the competition, in many cases, is global and not local. Getting your new start-up off to a great start is essential to building a profitable and sustainable small business.

There are lots of places to get good information on running a successful business. Many entrepreneurs have come through the struggle of building their businesses, and many are happy to prepare you for your entrepreneurial journey. I have gathered the 8 best start–up resources to help you to launch your small business.

SCORE is a nonprofit organization that provides expert business counseling to small business owners. SCORE’s Web site provides on-line counseling, and offers great e-mail newsletters. What I like best about their newsletter program is, it allows you to select which level of information that you want. From operations, to financing and expansion plans SCORE has a vast database of experts to assist your small business.

You’re The Boss Blog, New York Times offers an insider’s perspective on small-business ownership. It gives business owners a place where they can compare notes, ask questions, get advice, and learn from one another’s mistakes. By the way, I write for this publication as a regular contributor on social media and small business, but I read this blog long before I started writing for it.

Huffington Post Small Business America includes blogs, news, and community conversations about Small Business in America. A great example of the quality content on this site is the article by Faisal Hoque Growing a Small Business with 5 Essential Principles http://huff.to/17JdrFv

Business on Main is an online destination for small-business leaders and entrepreneurs who are looking for information to take their companies to the next level. I especially like their engaging original videos, featuring business stories that will inform and inspire you on the path to success

Founded in 2003, Small Business Trends is an award-winning online publication for small business owners, entrepreneurs and the people who interact with them. It is one of the most popular independent small business publications on the web.

Inc. is a great magazine and an even better website. They say they offer everything you need to start and grow your small business now.

Entrepreneur Magazine provides business ideas and trends on start-up, finance, marketing and franchising tools and tips and they have a great website, too. You can also read about the latest news, expert advice, and growth strategies for small business owners.

The Self Employed is a website created by Steve Strauss, small business columnist for USA Today and bestselling author of the Small Business Bible.  It provides lots of great advice for solopreneurs in particular, on start-up, finding clients, insurance and tax issues.

It’s National Small Business Month and here are some quick ideas to jumpstart your small business for the second half of this year.

Have you updated your elevator pitch? When is the last time you sharpened your marketing plan? Do you have monthly sales goals? Are your business finances updated by the 15^th of the month? Do you do at least one thing a day to generate sales? If you answered “no” to any of these questions, it’s not too late to start moving in the right direction.

Here are 6 things you could do today to generate a sale in your small business:

1)      Send a thank you note. Personal hand-written notes are so powerful. Send one to a friend, customer or a prospect just to check in and let them know they crossed your mind.  If you can, include an article of interest to them, too.

2)      Ask for a LinkedIn or Yelp recommendation. You need to ask for recommendations religiously. Turn your happy customers into an unpaid sales force for your small business. Be sure to send the link to make it easy for them. The easiest way to get a recommendation is to give one.

3)      Follow-up with a recent contact. I meet people everywhere and I’m sure you do, too. Reach out to a contact that you met at a recent networking event to schedule a face-to-face meeting or appointment. Pick out a place that is mutually convenient and have a quick coffee or lunch meeting.

4)      Change your timeline graphic on your Facebook fan page. People respond to visuals.  Make sure to update people on what’s new with your small business.

5)      Write a new blog post for your business blog. Make sure that your article is helpful to your target audience and is at least 500 words.

6)      Track down your outstanding receivables. On a weekly basis, evaluate your accounts receivable. If any client is behind 30 days in issuing payment, give them a call to find out payment status. While you’re on the phone, inquire about any additional opportunities to do more business.

May is the busiest time of the year for me, and here’s where you can catch me live this week.

Monday May 13^th: I’m headed to Austin, TX for the RISE Conference Austin sponsored by Dell. I’m be speaking at the Opening Keynote session Monday evening at 6pm https://www.riseglobal.org/about

Tuesday May 14^th: Don’t miss my brand new TV Show, Crowd Rules on CNBC 9pm ET Do you have what it takes to win $50,000? In the all new competition series, Crowd Rules, three small businesses compete for the grand prize each week. To win–they must convince the crowd! Check out an exclusive sneak peek. You can see my episode June 18^th.

Wednesday May 15^th: Come celebrate #SmallBizChat’s 200^th episode! Join me on Twitter Wed 8-9pm ET where we’ll have some surprises and giveaways — so do not miss this.  We’ll be talking about how to build a powerful social media brand. Here’s how to participate in #Smallbizchat http://bit.ly/S797e

Thursday May 16^th: Join me in Columbus, OH for the Black Enterprise Entrepreneurs Conference #BEEC. I’ll be leading a boot camp on how to develop and launch a brand for a new small business. It’s not too late to join me, register today.

Friday May 17^th: Don’t miss Part II of my three part series in the New York Times You’re the Boss Blog on how to have a great website.  Here’s part one: The Problem Social Media Cannot Solve

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wednesday on Twitter from 8-9 pm ET. This is excerpted from my recent interview with @Restaurant_Lady, Misty Young.  Known for her relentless approach to systems development in restaurant marketing, leadership, financials, operations and service, From Rags to Restaurants author, Misty Young is a tried and tested professional. Her own multimillion dollar restaurant chain, the Squeeze In, now has 4 locations. Misty and her husband purchased the nearly 30 year old Truckee, California restaurant in 2004, worked it daily for two years IN the business, while Misty studied, developed and implemented systems and worked ON the business “nights, weekends and holidays.”  For more info:  visit http://fromragstorestaurants.com

SmallBizLady:  What are The Five Irrefutable Laws of Small Business Success?

Misty Young:  #1 The Law of Leadership – the ability to influence. Our job as business leaders is to model personal growth and expect successful behavior while we develop and hold ourselves and our associates accountable.

#2 The Law of Operations – every aspect of the business is systematized to efficiently and effectively meet stated goals through planning, policies, procedures and measured performance.

#3 The Law of Financials – with integrity and diligence, financials and products are tracked, monitored and adjusted to assure financial health, fitness and profitability.

#4 The Law of Products / Services – our products must be reliable and we must diligently serve our customers and associates with courtesy, appreciation, respect and kindness.

#5 The Law of Marketing – the business must use multi-media tools to communicate timely with customers and associates in relevant, meaningful ways.

Every small business requires leadership for success. Part of the definition of leadership in my mind, is accountability. The leader, by influencing their followers, whether associates, suppliers, clients or customers, sets an example of personal growth and development while holding themselves and others accountable. All other aspects of small business success flow from diligent leadership. When the leader is focused on successful results and holds others accountable, the operations, financials, products / services and marketing are more likely to be successful as well. It’s a closed loop system; the same exact laws fit all businesses, from A-Z, auto repair shops to zoos.

SmallBizLady:  What are three accountability strategies you recommend?

Misty Young:  1. Written Job Descriptions, 2. Comprehensive Training Processes, 3. Standardized Performance Evaluation System

Assuming the small business has associates (employees) – systematizing the business is the critical first step. Making the business turn-key by creating written job descriptions, training protocols and developing a standardized performance evaluation system are basics. Business systematization should leave no question unanswered, no mystery to be solved, don’t expect your associates to be mind readers – they’ll do their best – of course, but it might not be YOUR best! Leave nothing to chance!

Even without associates, solopreneurs need systems, accountability, standards and protocol for how they approach every aspect of their business. The systems and planning provide the road map.

It’s not enough to say you’ll do these things; you actually have to do them. That’s the accountability part – what’s on your daily agenda matters! Making lists isn’t the same as completing tasks. I suggest all my clients put on their “STAR” glasses when setting about to develop accountability: Approach the task with Strategy (plan); Tactics (activities); Action (doing it!); and Results (what happened). Feed back the results into the strategy and refine in order to move forward.

SmallBizLady:  Why is there no law directly about the customer?

Misty Young:  The customer is the center, the true focus. The Five Irrefutable Laws of Small Business Success are all centered around the customer. Businesses succeed when they find a need and fill it, discover a problem and solve it. The small business then builds a firm foundation of success to attract customers with their solution, bringing them inside the business. Everyone wants to be associated with a winner or with a winning format. Unprepared or unprofessional small businesses risk making customers angry and repelling them if the solution isn’t ready for market. The universe requires order before motion. Being organized first helps build traction.

SmallBizLady:  If you anger or repel a customer, what do you do?

Misty Young:  As a restaurant owner, I created the LATTE approach to resolving customer problems. I believe mistakes are opportunities to learn – they are inevitable but don’t have to be fatal. In our restaurants, we strive to reduce the number of mistakes made in day-to-day operations. We learn from mistakes and evolve.

LATTE stands for:

• Listen
• Apologize
• Take Action
• Thank
• Evolve

Our goal is always to resolve the situation satisfactorily for the guest and evolve from the situation. The worst thing we can do is to send an unhappy guest out our door and the best thing we can do is learn from our mistakes. I believe excellent associate training is the ultimate fulfillment of a small business’ marketing promise – do it right! That circles right back to systems and accountability!

SmallBizLady:  Do you have a guarantee in your restaurant?

Misty Young:  Of course! Most small business people will guarantee whatever they’re doing, they may as well tell their customer! If you’re going to guarantee your products / services no matter what, always doing the right thing to take care of your guest or client or customer, you should let them know! We surely do, our outrageous guarantee is: “You’ll love our food or it’s free!” Our guarantee is on our menu, website, mobile app, even on our business cards. We don’t like to give away free food, so we work hard at consistency and excellence and circle back to training when we mess up (we’re humans, we mess up!). If you have a guarantee, tell the world. If you don’t have a guarantee, develop one now!

SmallBizLady:  You’re a restaurateur; do you really think these Five Laws fit all businesses?

Misty Young:  I know they do, I have other business interests besides restaurants. The Five Irrefutable Laws of Small Business Success are a great model for every business from A-Z, auto repair to zoos, there is nothing missing. Whether a business is building boats, selling fishing nets or serving smoked salmon, success requires Leadership development; Product / Services reliability; Marketing mastery; Operations proficiency and Financial literacy. All successful businesses stand firmly on the Five Laws.

SmallBizLady:  How can Small Businesses apply your “STAR” concept?

Misty Young:  When you think of STAR as an envelope, the context, it’s a simple concept. We approach whatever we do with a plan (strategy), activities to carry out the plan (tactics), do what we need to do (action) and measure the outcome (results) and feed back into the closed loop.  We see the synergistic beauty of the STAR approach. Many businesses are operating right now without a strategy, a plan. They might say, “We’re already successful without a plan, why have one?”  Here’s the easy answer: businesses with a strategic plan tend to be more successful, more profitable. It doesn’t have to be complicated.

SmallBizLady:  What do you see as the weakest link for Small Businesses in the Five Irrefutable Laws?

Misty Young:  Most small business failure can be traced back to a lack of financial accountability. It’s not for a lack of love or proficiency in the Products / Services, that’s the place of our expertise, our love, right? But financials? Many small business people don’t know how to decipher financial basics, balance sheets, profit and loss statements or cash flow statements. As small businesses, we don’t have to become CPAs, but we have to be able to talk to CPAs and understand what they’re saying. Anything less is a disservice to ourselves, our customers, associates, communities. Small businesses are the economic engine of the world, and strong financials are the firm basis on which the successful ones stand.

SmallBizLady:  What’s your approach to Law #5, The Law of Marketing?

Misty Young:  One of my favorite marketing gurus is Dan Kennedy.  His book “The Ultimate Marketing Plan” is one of the most dog eared in my massive collection. Kennedy says, “Little hinges swing big doors.” That statement made a huge impact on me. I do whatever it takes to be successful in business. Sometimes that’s a ton of little things, or one big thing. I market, measure, repeat, carefully evaluating what works. I keep what works and toss the jerks. I’m a bit of a nerd about analytics, metrics and measuring marketing success through ROI review. I don’t like wasting marketing dollars. Strategically investing money in marketing is an important business concept.

Finally, I manage my agenda carefully, and learning is on it every single day. I never stop learning and specifically seek more information and knowledge about marketing (it is a first love of mine, after all). That means I’m always finding great content and ideas about marketing, whether from sources like you, SmallBizLady, or Hubspot, MarketingProfs or through my MasterMind group, I make learning a priority.

SmallBizLady:  What’s an important lesson you’ve learned from a mistake?

Misty Young:  Fast isn’t always best, although the Universe loves speed. Be quick but don’t hurry, move forward once you have enough information. You don’t have to know everything to make a decision; you just have to have firm confidence, and continue to ask questions. I really believe a strong question set is important – and not just any questions, but very specific questions. Instead of asking “How can I make money selling tires?” ask, “How will the tires I want to sell save lives?” Take enough time, be specific, trust your gut, and then make your move. God gave you feelings for a reason, trust them.

SmallBizLady:  You’ve grown your company 400% in the last five years during a bad economy, how did you do it?

Misty Young:  I’m a people, systems and efficiency junkie. I have been relentless at systematizing and documenting everything in my businesses, literally living and building The Five Irrefutable Laws from the ground up. It started, quite literally, with checklists, which became operations manuals and developed into a full-fledged, values-based Code of Business Conduct. I created comprehensive multi-media training systems and performance indicators to hold myself and others accountable to results. I stayed true to marketing, financial literacy and operational excellence while taking great care of our customers and associates. It hasn’t been easy, but through developing my own leadership, and developing leaders within the organization it has been worth the intense effort.

SmallBizLady:  What one thing would you say is crucial for small business success? What’s the “one thing?”

Misty Young:  What you do every day matters for the long haul. If you don’t decide what you want for your life or business, you leave it open for others to decide for you. In other words, you can live your life by design or default. Set your own agenda, and live to your expectation. Take control of your time and make your desire come true.

Napoleon Hill, in the all time classic, “Think and Grow Rich,” said, “Thoughts are things, and powerful things at that, when they are mixed with the definiteness of purpose, persistence, and a burning desire for their translation into riches, or other material objects.”

Be definite in your purpose and persistent in your action to translate your burning desire into business success.

If you found this interview helpful, join us on Wednesdays 8-9 pm ET; follow @SmallBizChat on Twitter. Here’s how to participate in : http://bit.ly/S797e

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 America’s #1 small business expert. As CEO of Quintessence Multimedia, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing to fulfill her mission to end small business failure. She writes a weekly column on social media for The New York Times. Forbes Magazine named her #1 woman for entrepreneurs to follow on Twitter. She hosts  Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog http://www.succeedasyourownboss.com Melinda is also the bestselling author of Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works and the ebook: How To Become A Social Media Ninja; 101 Ways to Dominate Your Competition Online.

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wednesday on Twitter from 8-9 pm ET. This is excerpted from my recent interview with @AlfredEdmondJr.   Alfred Edmond, Jr. is SVP/Editor-at-large of BLACK ENTERPRISE. He is a content leader, brand representative and expert resource for all media platforms under the BLACK ENTERPRISE brand, including the magazine, television shows, web site, social media and live networking events. He also hosts The Urban Business Roundtable on WVON-AM in Chicago and Money Matters, a syndicated radio feature of American Urban Radio Networks.  Read more from him at his blog. 

SmallBizLady:  What are the top three things a business must do to be positioned for growth?

Alfred Edmond, Jr.:  First, assess the operational and financial resources of the current business.  Can you draw from those resources without hurting existing operations? Do you have the human capital/skill sets to support expansion?  If not, can you finance the additional resources necessary for expansion? How?

Second, assess your financial resources. What is current cash flow? How much cash do you have in reserve? Third, assess outside resources. Will your banker support expansion efforts? Your investors? Can you draw from your credit line? Finally, what is your end game? What does a “win” look like? Do flow charts of the operational structure of the expanded business. Who will report to whom? How will labor be divided? How will processes change? What key factors will you track to stay on course, adjust goals or abandon expansion efforts?

SmallBizLady:  When should an entrepreneur consider hiring advisors or coaches? 

Alfred Edmond, Jr.:  Business expansion may justify hiring an advisor, coach or consultant, with expertise and experience specific to expansion target. That expertise should be industry specific, and could include knowledge of new territory or product segment, such as high-end luxury. Other expertise areas: new manufacturing processes/sourcing for product expansion, such as cuff links for a neckwear company. Before hiring an advisor or coach, be clear on timetable, objectives and how performance will be measured. Also be clear on compensation structure. Payments based on previous agreed upon milestones? Flat fee? Hourly rate?

SmallBizLady:  How important is a strong brand in positioning a business to take it to the next level?

Alfred Edmond, Jr.:  If you do not have a strong brand in the eyes of consumers, next-level business growth is next to impossible.  You are building from a base of current customers who you will be counting on to communicate your brand promise to others. Current customers can’t communicate your brand promise if they are not sure of it themselves; sign of a weak brand.

SmallBizLady:  How often should you evaluate your pricing?

Alfred Edmond, Jr.:  On a monthly basis, and sometimes even weekly, you should evaluate your pricing. At minimum, evaluate your pricing against that of the competition, and against your costs per unit of goods/services.  What is the perception of value of your offerings in the eyes of your customer? Can your brand promise command a higher price? Also, explore establishing a premium line of goods/services at a higher price than you charge for your basic offerings. Consider a no-frills line at a lower price than your basic offerings.

SmallBizLady:  What should a business owner do if they want to target an entirely new market for business?

Alfred Edmond, Jr.:  Consider who is already serving that market. What can you offer that is better or different? Consider the costs of entering that market. For example, what will real expenses be to open a new location in a different neighborhood?  Consider the potential of the new market. How much additional revenue will expansion generate? How will expansion impact existing business?  Is this new revenue sustainable? Does it justify the costs of expansion? What is the exit strategy, timetable, if potential is not realized?  Before you go into a new market, have specific goals and a deadline to abort effort if they aren’t met. Have a plan for getting out as well as getting in.

SmallBizLady:  Sometimes people expand prematurely and crash instead. How do you know if your business is ready to grow?  

Alfred Edmond, Jr.:  Is growth being dictated by personal desire or market demand? If the potential growth is being driven by market demand, it may be an opportunity for your business. You may be ready to grow if you are having difficulty handling customer demand with existing resources and personnel. You may be ready to grow if your profits are consistent, but your revenue has remained flat. Growth may be necessary to keep up with expanded offerings/service offered by your competition.

SmallBizLady:  You can’t grow as a solopreneur, how many employees should you have in place to start scaling a business?

Alfred Edmond, Jr.:  The number of employees you bring on should be measured against the additional business likely to be brought in on a monthly basis. To avoid overextending yourself in pursuit of growth, explore flexible alternatives to permanently increasing your overhead.  Hire freelancers, independent consultants, temporary help, subcontracting to others on an as-needed basis, before adding to permanent staff. Also consider: What positions do you need to fill in order to capture new business? Is it sales? Customer service? Marketing? Start hiring there.

SmallBizLady:  How to do you hire good employees?

Alfred Edmond, Jr.:  First, be clear on the skill sets you need and what level compensation they command, depending on experience of the candidate.  If you can’t compete on salary alone, consider other benefits, including health care, flexible hours, sales commissions and other incentives. Screen for aptitude, but hire for attitude. Consider the impact of every potential hire on the culture of your company. Chemistry matters. The most skilled person can’t help your business if they are difficult to work with, are unprofessional or lack personal integrity. Look for people with proven ability for the positions you need to fill, but also willingness to wear multiple hats to get business done.  Look for people with the skill to do the current job, but the potential/skills set to grow with your company.

SmallBizLady:  What adjustments does the owner of the company have to make in the face of expansion, especially as a solopreneur?

Alfred Edmond, Jr.:  CEOs have to give themselves a gut check in the face of expansion. They’ll need to be able to relinquish absolute control to grow the business.

Once you hire the right people, can you trust them to get the job done their way? No one wants to be micromanaged. The more the company grows, the more the CEO must delegate technical, day-to-day operational duties and focus on providing strategic direction. Art of staying engaged enough to keep things on course, but distant enough to stay out of the way of team hired to get things done.

SmallBizLady:  What else must a business owner consider when taking the company to the next stage?

Alfred Edmond, Jr.:  At every stage of the business, the owner must have an exit strategy. This will constantly change as the business evolves.  Is the goal to sell the business at some point? Pass it on to a family member? Go public? How does business growth impact those options?

SmallBizLady:  What is the biggest mistake entrepreneurs make when taking their business to the next level.

Alfred Edmond, Jr.:  Biggest mistake made by entrepreneurs is expanding just for the sake of doing it. Before getting bigger, get better. Ways to get better: 1) Investing in technology to boost productivity, 2) Find new markets, uses for existing products, 3) Investing in more training for existing staff. Also, train each person to do multiple jobs.  Maximize the productivity and efficiency of your current operation before expanding, or you’ll end up with an even bigger, more inefficient business.

If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter. Here’s how to participate in #SmallBizChat: http://bit.ly/S797e

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 America’s #1 small business expert. As CEO of Quintessence Multimedia, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing to fulfill her mission to end small business failure. She writes a weekly column on social media for The New York Times. Forbes Magazine named her #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog http://www.succeedasyourownboss.com. Melinda is also the bestselling author of Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works and the ebook: How To Become A Social Media Ninja; 101 Ways to Dominate Your Competition Online.

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wednesday on Twitter from 8-9pm ET. This is excerpted from my recent interview with Nancy Bleeke, The SalesPro Insider @salesproinsider about the new conversations buyers need to help them do something or decide to buy. Nancy helps people change the dynamics of their conversations to make them count. This is especially important for small business owners who are short on time, resources, and bandwidth. She’s the author of Conversations That Sell: Collaborate with Buyers and Make Each Conversation Count. For more information http://www.salesproinsider.com

SmallBizLady: Some ‘experts’ have predicted that soon all purchases will be made online and we don’t need salespeople anymore – what does that mean to small business owners?

Nancy Bleeke: It means – don’t believe the hype! Though billions of dollars of commerce are transacted on the internet, people do still talk – buyers still often need someone to help, guide, or lead them to do or decide. TO do – make a commitment to an action of some sort or to decide – decide to make the purchase.

The internet is wonderful, but it can also complicate many purchases. The amount of information, comparisons, and choices can actually slow down the buying process for many people. And if you are selling a service, online buying is even more challenging.

Small business owners need to be equipped to have productive conversations with potential buyers – even if your business is online. You will have conversations with investors, suppliers, etc. and those need to be productive as well.

SmallBizLady: It seems that the consultative selling approach that many of us learned and adopted years ago isn’t enough these days, tell me more about that.

Nancy Bleeke: Consultative selling was and is fantastic. But I don’t think it is enough anymore. I think that the busy buyers, the time-deprived, the overwhelmed-with-information buyers want more.  They need more from us.  They have a lot of information and they want to be part of the solution.  And they want to be acknowledged for their knowledge and for their experience and ideas, too.

It means that salespeople – small business owners – need to be more prepared than ever to have relevant conversation. Instead of preparing for what we’re going to say and how we’re going to convince someone and tell them about what we can do or what our solution does, we need to do it with them and collaborate with them. This is a different skillset. We need to be very flexible, we need to be inquisitive and ask for their ideas, find out where they’re coming from.  We need to start with different questions. We can’t ask the “duh” questions.

SmallBizLady: The title of the book is Conversations That Sell. Why should we think of sales calls as converations? 

Nancy Bleeke: The days of the ‘pitch’ are limited – unless you’re doing infomercials. People conversations are needed – where both parties are engaged. When we think of a sales meeting as a conversation, it changes the dynamics and when we make it all about them instead of the solution it’s even a bigger conversation changer.

SmallBizLady: Why is it important to focus on them in a conversation?

Nancy Bleeke: When we focus everything we do from marketing to sales to serving them afterwards with a “what’s-in-it-for-them” focus, it changes the dynamics.

Let me repeat – all we do/say should be focused on What’s in it for Them – or WiifT (whiff-it).

This focus allows us to, what I call, “right-size” our information.  It helps us not oversell or, even worse, over tell.  We can give too much information and just confuse things.  By focusing everything on what’s in it for them, we do the right thing for them which then becomes the right thing for us because we’re going to get them to make a decision or take an action to move forward.

SmallBizLady: Most of us know how to conduct a needs analysis; you propose that we need to seek more from our buyer.  Why?

Nancy Bleeke: Because I don’t think that just honing in on needs is enough.  We should learn about needs and also focus on their wants – which are the emotional aspects of buying. I firmly believe that most people make emotional decisions and support them with facts so we need to look at wants and needs.  And that’s still not enough.  Your solution most likely helps solve a problem or capture opportunity.  We need to focus on problems, opportunities, wants, and needs.

SmallBizLady: Do you have a FAVORITE question to ask a potential buyer?

Nancy Bleeke: No. Each conversation and buyer is unique. The questions depend on them, the objective of the conversation, and their tribal type. This makes for MANY different effective and productive questions. Too often I am asked for the ‘magic pill’ or the magic wand to wave and get the results. It’s not that prescriptive – great questions seek more from the buyer.

SmallBizLady: What are the Tribal Types how does that concept affect small business owners?

Nancy Bleeke: Think about when you’re in a different country and the language is different, it’s harder to build rapport, to engage and build trust with someone.  But as soon as you know even a few words of that language, you can communicate and move forward from there.  It’s the same in your sales conversations.  You need to be talking the same language and about what’s important to THEM.

Tribal Types outlines the different types of people so we can easily adjust our words, pace, and communication to them. For example, some people use ‘thinking’ words – like results, analyze, “I think this or that”. Others use ‘feeling’ words such as – opinion, suggestion, or “I feel something”.  The more we talk ‘their’ language, the more smooth the conversation and easier the decision.

SmallBizLady: How can we make sure our conversations are productive, effective, and efficient?

Nancy Bleeke: Here are three conversation changers for most small business owners:

1. First, it’s not all about your solution! It is all about THEM. Keep a focus on them from the beginning of the marketing messages to their conversation with you. Keep a focus on them from the beginning of the conversation until the end.  It’s not about the old adage that I should work with people the way I want to be worked with.  I think that’s ridiculous.  Who else is just like me?  I need to market, sell, and work with them the way they want to be worked with, the way that’s comfortable for them, the way that’s going to help them move to do or decide something.
2. The second conversation changer is preparation. Get things down on paper, be clear on the outcome, do the research needed so you don’t waste time.
3. And the third tip is that no matter what you’re selling or how comfortable you are with what you’re doing; remember that every conversation is different because the person you’re talking with is. Adapt each conversation to the person’s tribal type in your communication, working style, pace, and word choice makes you relevant to them, trustworthy, and will help you build your business.

SmallBizLady: Where do you believe sales conversation success begins?

Nancy Bleeke: Winning conversations begin in your head but they also begin in your heart. What’s going on inside us affects our actions.  And so we need to have belief.  Not just belief in our solution – which as small business owners we usually have HIGH belief and passion for what we offer. It’s more – belief in the value the buyer will receive, belief in ourselves – that we have the abilities to build our business because we can sell – which again is nothing more than having conversations that help someone else do or decide something.

SmallBizLady: What do you see as the biggest gap in conversations by small business owners?

Nancy Bleeke: Leaving the outcome ‘hanging’ but not getting a commitment to do or decide something. Many business owners think they are being pushy or they don’t want to be rejected. If you don’t ask, you’ll never know and you can waste a lot of your time and energy chasing prospects that aren’t ever going to buy.

If you believe that your solution is going to help them – you need to be assertive at the end of your conversation to ask them to DO (take an action of some sort) or DECIDE (to purchase, to meet with you, to introduce you to someone else).

SmallBizLady: How can small business owners determine how to have productive conversations without recreating the wheel?

Nancy Bleeke: Observe others or read about selling techniques– and then adopt the actions and practices that you believe will work for you, for your business, and for your buyers. But know that you need to then adapt them to truly make them relevant and ‘yours’.  Of course this means you need to prepare and practice – two of my favorite ‘p’ words. And then adjust.  These are the activities you have control over and that will not only make your conversations count but your build your business.

If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter. Here’s how to participate in #SmallBizChat: http://bit.ly/S797e

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 America’s #1 small business expert. As CEO of Quintessence Multimedia, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing to fulfill her mission to end small business failure. She writes a weekly column on social media for The New York Times. Forbes Magazine named her #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog http://www.succeedasyourownboss.com Melinda is also the bestselling author of Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works.

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wednesday on Twitter from 8-9 pm ET. This is excerpted from my recent interview with @EllenRohr.   Ellen Rohr, Business Make-over Expert is President of Bare Bones Biz, Inc. As president of Benjamin Franklin Plumbing, a home service franchise company, the company grew from zero to $40 million in sales and 47 locations in less than 2 years.  Now, she helps entrepreneurs start, fix and grow their own profitable businesses.   Her basic business strategies work…from Main Street to Wall Street! 

SmallBizLady: If I do what I love, won’t the money just follow?

Ellen Rohr: Probably not.  A better plan is to charge more than it costs!  To do that you, have to know your costs.  You have to believe in the value of what you are selling.  And you have to believe that you deserve to make money in exchange for what you bring to the transaction!

SmallBizLady: Don’t you have to set prices based on what the market will bear or on the going rate?  

Ellen Rohr: Most businesses go out of business.  Most business owners make less than they did when they had jobs.  (Stats available at www.sba.gov)  So, you don’t want to blindly follow the leader.  Instead, consider what your costs are, and how much money you want to make.  You might notice that industry leaders are often the highest priced providers.  Starbucks.  Kinkos/FedEx.  They sell on value, not price.  Exception is Walmart, but that’s a tough USP to compete against.

SmallBizLady: So, how do I come up with a better selling price?  

Ellen Rohr: Put a simple budget together. What do you want to spend for one year on expenses, including a good salary for you and great wages for your team?  Add up all the costs.  Then, create a sales goal that is bigger than that to the desired amount of profit.  Yeah!  Now, you have financial goals.  From there, divide the top line of sales into per item/per hour prices.  For instance…if your sales goal is to hit $300K per year and you work all by yourself and deliver a service.  Say you can work 1,000 hours per year.  You would need to bring in an average of $300 per hour.  That’s the basic approach for a sound selling price strategy.  If you sell products, play out a few options.  Easy peasy.

SmallBizLady: What if my financials are a mess?  Do I have to become an accounting pro to figure this out?

Ellen Rohr: You have to get the financials right and current.  We call this operating at KFP – a KNOWN financial position.  When the financials are current and accurate, you can see the evidence of your decision making…including your selling price strategy.  If you don’t like the score, change a behavior and see what happens.  You may need a bean counter or QuickBooks expert to help you clean up and understand your financials.  (I help folks do this, too, and that’s why I am so busy!)  You don’t have to be a bookkeeping pro.  You DO have to understand the Balance Sheet and Profit & Loss.  It’s your money and you should know.

SmallBizLady: Can I just ask my bookkeeper or accountant to figure it out for me?

Ellen Rohr: She or he can help!  But, YOU are the financial manager.  Again, it is your money and your stewardship.  And, if you aren’t paying attention, you increase the risk of getting ripped off.  The good news?  This accounting business is not that hard.  It doesn’t take that much time.  You just probably never learned it.  The words are weird but it is all pretty common sense-ical. :-)

SmallBizLady: Most people are scared of budgeting and goal setting. What is your simple, step by step process for making budgeting easy?

Ellen Rohr: If you are operating from KFP or KNOWN financial position, that is a good start.  Then, create a pretend P&L based on the Chart of Accounts you are using.  I like using an Excel spreadsheet.  It’s just one step up from a columnar pad and a calculator.  The math is easy…Sales – Expenses = Profit.  When you think of budgeting like goal setting, it becomes more appealing.  Less deprivation.  More abundant thinking!  It’s all pretend, so play out a few scenarios and get your head wrapped around how nice it will be to have more money, more options.

SmallBizLady: How does a competitor stay in business when they charge less?

Ellen Rohr: There is a four letter word for it: DEBT.  Or, maybe they won the lottery.  We don’t KNOW how some people stay afloat when they are charging less than it costs them.  Basically, the difference between a high priced provider and a low cost provider is what they pay their people.  And debt can allow someone to stay in business for a lot longer than they otherwise would.  So, consider what YOU want…and let go of the need to compare yourself with the competition.

SmallBizLady: What if I am selling the exact same thing?

Ellen Rohr: In order to charge more, you have to be more.  Cleaner, faster, nicer…whatever!  If you are selling rice, differentiate that rice.  Is it organic?  Can you deliver it faster?  Is it stored in a superior way?  Then, you can charge more for it.  Unless you can differentiate, you are in a commodity crunch.  Break free by coming up with 12 ways YOUR product or service is different and better.  Not sure of the ways?  Ask your happy customers!  Then, leverage these benefits in your marketing and sales communications.

SmallBizLady: Most business owners think if they raise their prices, that they will lose their customers. Is this true?

Ellen Rohr: You may.  You may only lose the most troublesome customers and that’s not a bad thing!  In my experience, if you double your prices you may lose 5-10% of your customers.  Not half your customers.  Even if you DID lose half your customers…you would still be ahead of the game, right?  So, fear not.  A budget helps you believe in your updated selling price.  For me, when I crunched the numbers, I realized I was charging much less than it cost me for every hour of labor I sold.  It made it easier to stand tall and present my prices as being fair and reasonable.

SmallBizLady: How does an entrepreneur/business owner get their team in on the game?

Ellen Rohr: If they don’t buy it, neither will my customers.  Try Open Book Management.  My mentor for this is Jack Stack, www.greatgame.com.  Basically, sharing real financial data can help your team believe in your budget and your selling prices.  It is a bit nerve wracking to get started.  Show them a few, relevant numbers…like sales, direct costs of labor and materials, and marketing costs.  Whatever you share, tell the truth.  You build trust and increase buy-in for your selling prices.

SmallBizLady: What is your advice to help business owners triple their prices and keep customers?

Ellen Rohr: Mark Victor Hansen says, “You can raise your prices as often as you raise your self esteem.”  When you allow yourself to fully grasp the value of your goods and services, it is easier to raise your prices and hold to them.  If you are willing to improve your marketing skills and selling skills, then you are off to the races!  Many folks who tell me how hard it is to raise their prices have never taken a sales class.  How about you?  Start with that.  Check out… www.buygitomer.com or www.tomhopkins.com for a couple of rockin’ sales trainers.  Harry Beckwith’s book Selling the Invisible is a good start for marketing help.  And Jay Conrad Levinson’s Guerilla Marketing is a classic.

SmallBizLady: Can you share some simple marketing strategies for “no complaints” pricing?

Ellen Rohr:  Get testimonials from your existing customers.  Tell them upfront, “You have made a great decision with your purchase.  I’m going to do such a great job on this project that you are going to be happy to say nice things about me.  That’s my intention.  So, I will stay in communication during and after the project to make sure you are happy.  If you are ever not happy, let me know.  I can make it right!  When we are wrapping up, I’ll ask you for your thoughts.  Fair enough?”  Then, do a GREAT job.  When you ask for the testimonial, have them talk…you write it down.  Take their picture and put together a flyer, postcard, door hanger…all of the above.  Ask them to post a line or two on Angie’s List and Yelp and Facebook.  Your customers bragging on you can be leveraged in all kinds of marketing.

If you found this interview helpful, join us on Wednesdays 8-9 pm ET; follow @SmallBizChat on Twitter. Here’s how to participate in #SmallBizChat: http://bit.ly/S797e

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 America’s #1 small business expert. As CEO of Quintessence Multimedia, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing to fulfill her mission to end small business failure. She writes a weekly column on social media for The New York Times. Forbes Magazine named her #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog http://www.succeedasyourownboss.com Melinda is also the bestselling author of Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works and the ebook: How To Become A Social Media Ninja; 101 Ways to Dominate Your Competition Online.

Guest Article

There’s no doubt that starting and running a business comes with a long to-do list.  Maintaining your normal activities will keep you busy beyond the 8-hour day in addition to the administrative activities that are essential to running your operations.  This is especially onerous if you are the only one and wearing all the hats. 

But before you get overwhelmed, know that there are smart tactics and strategies that you can use to your advantage.  Planning and leveraging strategies for what you anticipate will help your business run more smoothly and efficiently.  There will be uncertainties and unplanned events along the way, but with systems in place, you will find it less burdensome to deal with these unusual situations.  This will also free up your time to focus on business development which is essential for your business’ survival, profitability and long-term growth.

Here are 5 pointed secrets you can use to grow your business smarter and faster whether you’re a sole proprietor or the one leading the pack:

Create systems so you business can run while you’re away.  This will take some ground work but it will be well worth it to have a structure in place.  What happens when you receive a check?  What do you do when it has been 60 days and a client hasn’t paid you yet?  What happens when you receive an invoice from a vendor and it needs to be paid?  Determine what the key processes are in your business and document how these processes should work.  For routine transactions in your business, figuring out what to do should be as simple as consulting the step-by-step written documentation of the process. Once this is in place, you can have employees or even an intern help with carrying out the behind the scenes aspect of your business while you focus on other initiatives or take a vacation!

Train your employees well.  Once you begin hiring employees, make sure their roles are properly defined and they are properly trained.  Take the time to get them acquainted with your business and its objectives and goals.  Show them how to do their job to your satisfaction; this will be more efficient than you having to make revisions after an initial attempt.  If it is possible and your budget will allow, have segregation of duties to enable your employees to become more efficient in their areas of responsibility over time.  You can also alleviate the level of teaching you do if you hire individuals who are experienced in their roles and have the necessary skills.

Partner with other businesses. There’s no reason to do everything alone.  Look for opportunities to partner with other businesses in ways that are mutually beneficial.  You will both save time and money and will be more efficient.  Talk to your clients to find out what they need help with.  If it is something that is beyond your area of expertise and you know someone who can deliver, make the introduction.  Similarly, develop a relationship with a network of businesses that do the same for you. This works well with businesses in different industries since they are not your direct competitors.

Leverage established networks.  If your business is new and still small, look for ways to get your name out there.  Consider advertising in established email marketing newsletters or on blogs and websites that have a lot of traffic.  If you have your own blog, consider writing for other blogs with a larger number of readers.  Another business may have a short-term project that you may be able to use your skills to assist with so consider such opportunities as they will also give you access to a wider audience.

Find mentors who have been there and done it. There are business principles that are tried and true.  So no matter what industry you’re in, there are basic things that could help your business if you know about them and apply them correctly.  Develop a relationship with a few mentors who are willing to share their insight with you based on their experiences. People love to give back and tell their stories.  Listen attentively, ask questions and share your goals so they can help point you in the right direction.

Have you used similar tactics to grow your business before?  Do you have other tactics that you’ve used?  What results have you seen with your strategies and which ones are the most effective? 

Dasanj Aberdeen is an entrepreneurial spirit who embodies the combination of left-brain logic and right-brain imagination as a businesswoman and artist. She founded  TheAfter5Edge.com  as a platform for encouraging others to optimize their potential by discovering and leveraging their strengths to obtain their competitive edge in business and life.  She is a graduate of the Wharton School of the University of Pennsylvania.  Follow her on Twitter at: @DasanjAberdeen or @TheAfter5Edge.

“Arrow Upstairs” image courtesy of renjith krishnan / www.FreeDigitalPhotos.net

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wednesday on Twitter from 8-9 pm ET. This is excerpted from my recent interview with @darnyellejervey. Darnyelle A. Jervey, MBA is an award winning author, sought after speaker, award-winning certified business coach and marketing consultant. Darnyelle is the founder of Incredible One Enterprises, LLC, a full service marketing strategy, empowerment and business optimization consulting firm that specializes in offering business leaders marketing and business optimization strategies, empowerment and executive coaching solutions to individuals and organizations worldwide. For more info, visit: http://www.incredibleoneenterprises.com

SmallBizLady:  What exactly do you mean by incredible factor?       

Darnyelle Jervey:  Everyone has an Incredible Factor. I believe that you start with your innate gift and clarify if it solves a problem that people are willing to pay for the solution to. Unleashing your Incredible Factor is two-fold; it is first and foremost managing your mindset so that fear and beliefs don’t hinder your actions. And secondly, it’s about movement – positioning yourself (via marketing and strategy) to take consistent action toward your target business growth goals.

SmallBizLady:  Why don’t all entrepreneurs make 6 figures or more in their businesses?

Darnyelle Jervey:  While there are many factors, I have narrowed it down to five, because they don’t take the time to create a balanced and effective business and marketing plan. Focusing on just five areas as a service-based business owner can be the difference in five figures and six or multiple six.

SmallBizLady:  What are the five factors that make up a successful business?

Darnyelle Jervey:  Sure, the five areas that entrepreneurs need to focus on to be able to successfully unleash their Incredible Factors are: Mindset, Message, Market, Money and Method.

SmallBizLady:  What does HUG stand for?        

Darnyelle Jervey: It’s your innate gifts and talents (which I call your HUG – Hot Undeniable Gift) plus your Signature System (which I call your signature business move) plus how you stand out from others who technically do what you do (your USP) in a client and brand magnetic package. Knowing your Incredible Factor makes developing a plan for your message, market, money and method much easier.

SmallBizLady:  Why do you suggest shifting your mindset as a key component to unleashing your Incredible Factor?

Darnyelle Jervey:  95% of your success in life is based on mindset. Your business growth will always be stifled by your limiting beliefs. If your limiting beliefs are bigger than your desire to change the lives of those you’ve been called to serve with your Incredible Factor, you won’t grow your business. By taking the time to learn strategies to shift your mindset, you can experience exponential business growth, which will allow you to create experiences for many more people.

SmallBizLady:  When it comes to my message, what is essential to consider when creating it?

Darnyelle Jervey:  Remember the universal law of business and build your marketing message around it. Everything that you do, say and are must align to the way you want to be represented in the market while solving a problem for your “audience of one”.

SmallBizLady: How do you determine your marketing message?

Darnyelle Jervey:  I recommend that you complete a SWOT analysis on your business concept. Start by considering the top of mind problems that exist in the market place. It’s easy to want to speak in a voice that is already in the marketplace; however, it’s about finding what makes you different. As you complete your SWOT, think differently. Ask yourself questions that look at the problem from a different angle. Don’t be afraid to burn the box.

SmallBizLady:  You mentioned top of mind problems. What are they and can you give us an example?

Darnyelle Jervey:  Sure, a top of mind problem is a problem that keeps your Audience of One awake at 3 am when they should be sleep. They are losing sleep and stressed because this problem is at the forefront of their minds. Top of mind problems fall into one of six categories: identity/purpose; health/wellness; love/relationships; wealth/money; time/life balance; sex/life fulfillment. If the problem you solve falls into one of these categories, great if not, go back to the drawing board.

SmallBizLady:  How do you recommend you determine your target market or Audience of One, as you refer to it?

Darnyelle Jervey:  The short answer is market research. Before you can get started, you have to get clear on the problem that you can solve for others easily out of your abundance – of content, information, strategy, etc. Remember the universal law of business. Then, the first step is to thoroughly describe who they would say that they are right now. It can be done in one clear paragraph. This includes demographic as well as emotional information that helps you “get into their heads” so that you can eventually create compelling marketing for them to self-select themselves into your products and services. Next, identify what their problem is right now in a full paragraph. Get clear on what they’re struggling with in graphic detail. Begin to use words they’d use to describe their problem. And lastly, build out a detailed paragraph about what they’re in most need of right now to solve the problem. This final paragraph is like your prescription for their problem or the product or service you will introduce them to as they progress through your funnel.

SmallBizLady:  How do people’s attitudes about money enter into whether they are successful in business?

Darnyelle Jervey: Most entrepreneurs never see 6 figures worth of income in their businesses in a year’s time. It’s for a few reasons. First, they have problems with money that stem from their past, mostly their childhood. How their parents dealt with or felt about money, etc.  And that trickles down into the prices they set. When you don’t know your worth, you undercharge and when you undercharge, you don’t take all of your business numbers into consideration so that each new client brings you closer to profit. It’s a vicious cycle if you don’t deal with your money consciousness.

SmallBizLady:  So how do you pull this all together to run a strong business?           

Darnyelle Jervey:  After clarifying your message, market and money, you have to create a systematic approach to marketing to them in a consistent manner. I created the Magnetic Marketing Success Formula that includes setting up marketing sequences that move prospects through your funnel in an authentic way.

SmallBizLady:  Can you give us an example of a potential marketing sequence?

Darnyelle Jervey:   Sure.  The formula I like to use is Value x 3 + Offer + Delivery + Value. If we were building your Free Offer Sequence, it would look like this: It starts with your free offer – make sure it addresses the first top of mind problem they are actively seeking a solution to and offers a high content and value sample of what it would be like to work with you.  And also make sure it has an effective call to action so that they opt in.  Then, create a sequence (video or email) that provides 3 pieces of value pertaining to that top of mind problem and additional content before making an offer for them to invest in your help to solve said problem.  After you make the offer, deliver it, and then add more value to deepen the relationship to position the next solution to the new problem that will surface.

If you found this interview helpful, join us on Wednesdays 8-9 pm ET; follow @SmallBizChat on Twitter. Here’s how to participate in #SmallBizChat: http://bit.ly/S797e

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Melinda F. Emerson, known to many as SmallBizLady is America’s #1 small business expert. As CEO of Quintessence Multimedia, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing to fulfill her mission to end small business failure. She writes a weekly column on social media for The New York Times. Forbes Magazine named her #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog http://www.succeedasyourownboss.com Melinda is also the bestselling author of Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works and the ebook: How To Become A Social Media Ninja; 101 Ways to Dominate Your Competition Online.