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7 Ways to Manage Your Life and Business as a Mompreneur

By on May 6, 2013 in Business Inspiration, Featured Post, Mompreneurs, My Recommendations

Ways to Manage Your Life and Business as a Mompreneur3 7 Ways to Manage Your Life and Business as a MompreneurSponsored post

Running a small business is hard work, especially for a “mompreneur.” In many cases, you are doing the three full-time of jobs of wife, mother and business owner all at the same time. Every day you are doing more with less and trying to figure out how to get it all done smarter, cheaper and faster.  But remember, on the airplane the flight attendant always says you must put the oxygen mask on yourself first before helping anyone else. This idea is true in your business and personal life as well. Here are 7 ways to manage your life and business as a mompreneur.

Start each day with meditation or prayer:  I run like the wind with my demanding profession as a small business expert on top of my mom duties.  It’s hard to feel like you are not in a race every day. To keep my one-woman circus under control, I pray each morning.  Yoga is another great way to practice meditation techniques.

Stop the never ending to do lists: To do lists leave me feeling overwhelmed.  Who needs that? Focus on getting five things done before 11 a.m. each day. Start each day with a plan and anything you accomplish after your top five is a gift.

Be present: Your family wants to feel like they matter more than your work. Limit your work hours. Don’t be afraid to hit ignore and turn the cell phone off at a certain time each day. When you pick-up the kids, talk to them – don’t be that parent in the carpool line on the phone.  Don’t be tempted to multitask at work. Focus on phone calls and face-to-face meetings.  People can tell when you’re mentally checked out.

Use one calendar: You have one life so you need one calendar for your family and your business. I suggest using Google Calendar as it syncs to your phone. Put all your family and work appointments in one place and you’ll be far more likely to make everything happen.

Take regular breaks: I use the app Coffeebreak to make sure I walk away from my computer every 90 minutes. Then every three months, I take at least a 48-hour break from everything to be good to myself. Think about the things you used to do when you had more time: fishing, gardening, hiking, golfing, jewelry making, etc. You need rest to focus.  Have you scheduled a summer vacation yet?

Workout at least 3 times a week: You might feel like you don’t have time, but think about working out in a different way. Use working out as a way to spend quality time with yourself. If you need to think about an important decision in your business, walk or run and think.

Get more rest:  I recently read a study that said the body repairs itself between 10 p.m. and 2 a.m. when we are asleep. Do not get swallowed up in your work. You can’t get a lot done with a cluttered mind. Focus on getting more rest! You’ll be a lot more productive if you do.

Do you have any tactics to add to the list?

Join me Thursday May 9th at 8pm ET for a live QA sponsored by @FedExOffice on Twitter on Ways to Manage Your Life and Business as a Mompreneur. Use the hashtag #SMBMoms and sign into www.tweetchat.com to join in the conversation.

Disclosure:  FedEx Office compensated me to write this post and participate as a small business expert during their Tweet Chat program.  The ideas in this blog post are mine and not ideas or advice from FedEx Office.

Mother And Daughter courtesy of Ambro / www.FreeDigitalPhotos.net

About FedEx Office

FedEx Office, an operating company of FedEx Corp., has more than 1,800 stores and locations primarily in the U.S. and Canada, providing convenient access to printing and shipping expertise with reliable service. The company’s network features retail stores, centralized production centers, corporate on-site print centers, and on-site business centers at hotels, convention centers and universities. Services include copying and digital printing, professional finishing, document creation, direct mail, signs and graphics, computer rental, free Wi-Fi and corporate print solutions. In addition, the company offers FedEx Express and FedEx Ground shipping, Hold at FedEx Location, and packing services backed by the FedEx® Packing Pledge. InformationWeek 500 recognized FedEx Office® Print Online and FedEx Office® Print & Go solutions with the 2011 Most Innovative Products award. Products, services and hours vary by location. For more information, please visit www.fedex.com/office.

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. Her latest ebook, How To Become a Social Media Ninja; 101 Ways to Dominate Your Competition Online was released in 2012.

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Does Your Small Business Have Enough Insurance?

By on March 25, 2013 in My Recommendations, Your Small Business

Does Your Small Business Have Enough Insurance 300x225 Does Your Small Business Have Enough Insurance?I am concerned that small business owners do not have adequate liability insurance for their businesses, and I wanted to provide information so that you will know what you need to be protected. I reached out to a few insurance experts to help me explain your options and what is needed in a typical small business.

So what triggers the need for business insurance?  When you are renting a property, a landlord will often require a general liability policy as part of your lease agreement. If you are doing business with a Fortune 500 company, you will often be required to have general liability insurance with at least $1,000,000 in coverage.  If you are consulting or providing expert advice you could be required to have errors and omission insurance. But too many small business owners overlook key insurance needs.

Alice Niles, President of A. P. Orleans Risk Management said small business owners need to make sure they are properly insured. “You should manage your risk, you should not let it manage you. It’s what you don’t know that always hurts you”, said Ms. Niles.

Hiscox insurance expert Kevin Kerridge said, “You actually don’t have to make a mistake to have your company sued, the insurance could cover the cost to defend your business reputation.”

Edmund C. Nelson of State Farm Insurance, suggests that you check with your existing insurance agent about what is available first, and if they are unable to cover you for certain specialty insurance needs, they can provide a referral to another provider.  The good news is that business insurance is not terribly expensive. There are a host of internet providers that provide business insurance at affordable prices.  Here is a list of the types of insurance you may want to consider for your business

  • General Liability Insurance: This insurance covers products, completed operations, and premises operations. So if you are a restaurant and someone gets food poisoning you are covered. Or, if you build a new floor in a home, and the floor warps because of the way it was installed, you are covered. If you rent a facility and someone falls and gets hurt, you are covered.
  • Errors and Omissions Insurance: This professional liability insurance covers anyone who presents themself as an expert and provides advice or consulting services. If a project goes poorly and the client sues, you will be covered for your legal fees and defense costs. For an average $1,200 per year cost, you could have $1,000,000 worth of professional liability coverage or more.
  • Auto insurance: Commercial auto insurance is needed if the vehicles are owned by your company and operated by employees or yourself to do business. You should also consider adding, a hired and non-owned automobile liability rider. This is in case, you or an employee rents or borrows a car to do business during work hours, and someone is hurt by the vehicle, you will be covered.
  • Worker’s compensation insurance: It is the law; you must have this insurance if you have employees. The pricing is regulated by the state you operate in.  If you do not collect certificates of insurance from all 1099 or subcontractors, you will be liable for them on your insurance policy. Ms. Hines added, “Worker’s compensation policies are subject to audit. If you can’t prove your subs have insurance, you will have to pay for them under your worker’s compensation policy”.
  • Employment Practices Liability Insurance: This extra insurance covers incidents like sexual harassment, discrimination, hostile workplace claims, and unfair employment practices.
  • Medical malpractice insurance: If what you do is FDA regulated, you could be subject to medical malpractice insurance.
  • Commercial Excess Liability insurance: This is extra insurance if you exceed the limits on your general liability policy or commercial auto policy. It typically costs $300 per year for $1,000,000 more coverage.
  • Cyber Theft of your Business Bank Account: Over $1 billion a year is stolen from business bank accounts, according to Bloomberg News. Seventy-three percent are stolen via fraud attacks. There’s a new product on the market that will cover your commercial business account against cyber theft or fraudulent wire transfers.  Under the current banking laws, FDIC insurance doesn’t cover small business bank fraud, it only covers you against your bank becoming insolvent. The Commercial Deposit Insurance Agency is providing this insurance and will cover up to $50,000 for a premium of $175.00 per year.

What is piece of mind worth to you in your business? Call an insurance provider today and find out how much coverage you have or need. Start investigating what it will take to protect your business, before it’s too late.

Image “Dice” courtesy of jscreationzs/ www.FreeDigitalPhotos.net

Melinda F. Emerson, SmallBizLady, is America’s #1 small business expert. She is an author, speaker and small business coach whose areas of expertise include small business start-up, business development and social media marketing. She writes a weekly column for the New York Times, publishes a resource blog, www.succeedasyourownboss.com which is syndicated through the Huffington Post. She also hosts a weekly talk show on Twitter called #Smallbizchat for small business owners. As a brand, she reaches 1.5 million entrepreneurs a week on the internet. As CEO of Quintessence Multimedia, Melinda develops audio, video and written content to fulfill her mission to end small business failure. Forbes Magazine named Melinda Emerson one of the #1 Woman for Entrepreneurs to follow on Twitter. Melinda has been featured on MSNBC, Fox News, NBC Nightly News, and in Fortune, The Washington Post, USA Today, Wall Street Journal and Black Enterprise. She is 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.

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How to Hire Great Employees for Your Small Business

By on February 11, 2013 in Grow Your Business, My Recommendations

How to Hire Great Employees for Your Small Business 300x300 How to Hire Great Employees for Your Small BusinessMany small business owners are so busy running their businesses that hiring employees can slip to the bottom of the list – until a major ball gets dropped. When that happens, often entrepreneurs will compromise and grab the first person who comes along.  They don’t interview multiple candidates, check references, or even develop a detailed job description to see if the person’s skills are a match. They take a candidate’s word for it. They settle for a candidate who shows interest or just needs a job. Don’t just hire a warm body– hire the right candidate.

Here are six ways to hire great employees for your small business.

1. Develop a job description. Take the time to figure out exactly what skill sets are needed in your company. Be as comprehensive as possible, but also make it clear that all workers are expected to be flexible and jump in where needed.

2. Ask the right questions.  Small business owners often hire unqualified employees because they don’t follow up on information shared during the interview. They hire people because they genuinely “like” the candidate or get wooed by their willingness to be a “fast learner”.  They run into problems because they don’t test the candidate’s skills. If you need your employees to write business letters, test their writing skills. if you need them to know social media, see what they are already doing online. You need people to hit the ground ready to help your business. OJT – or on the job training – is not something most small business owners can afford. Hire employees who have the skills you need to be successful.

3. Make sure the candidate’s skills are up to date. You certainly want to hire people who have business experience, but you need to make sure their skills are up to date and relevant to your business. Often, people who have spent the majority of their career in Corporate America struggle to thrive in the small business environment without all the structure and resources. Focus on the candidate’s specific work achievements, not their years of experience. Look for people who are willing to help you create processes and systems in your business. You must stay focused on your company’s specific operating needs.

4. Hire people who can think. People who work in small businesses need to be problem solvers. They must be able to think on their own and be highly self-directed. You want employees who are highly motivated to exceed work goals. Create interview questions that probe how a candidate handles high-pressure situations. Some small businesses, particularly in the early years, can be a real rollercoaster and any new hire must be able to roll with it.

5. Look for teammates. It really does take teamwork to make the dream work. You want to make sure that your new hire fits the culture of your company. It is possible to have four generations in the workplace at one time, and you need to make sure that energy works for how you want to run your business. Ask prospects how they handle disappointments and being frustrated. You need people who will be adults who communicate about challenges, can shake things off and not get easily discouraged from setbacks.

6. Fire fast. One monkey doesn’t stop the show. Never be afraid to fire someone that works for you. You should always know your next hire for every position in your company, so that you don’t feel like you are being held captive by anyone. Use 90-120 day probation periods for all new hires. Give your new hire a chance to correct their initial impression with one feedback conversation. If they continue to struggle, cut your losses and fire them fast. For non-critical roles, try using a temp service for some positions with an option to bring the worker on permanently.

Make a list of your top three skills any new hire must have to make your final decision, get three references and check them all, and don’t forget to do a Google search and or background check to make sure your job candidate is all that they seem.

Image “Hire Fire Keys” courtesy of Stuart Miles / FreeDigitalPhotos.net

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.

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