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10 Things to Grow Your Business This Summer

By on June 22, 2011 in 10 Things Lists, Ask Smallbizlady, Become Your Own Boss Tips, Branding & Marketing, Business Inspiration, Customer Service, Featured Post, Grow Your Business, My Recommendations, Social Media, Technology

growth, summer, Summer is here!  Now that the kids are out of school, you might be thinking about how to reduce your work schedule, but that’s the worst thing you could do.  It’s time to turn up the heat in your business. Third and fourth quarters are critical times in business. You may have customers who are in budget planning cycles, or have excess budget to spend. Now is the right time reach out to your existing customers and get your house in order to make your revenue goals for the rest of the year.

 

Here’s 10 Things to grow your business this summer.

1. Take a break. Even if all you can afford to do is a staycation, take a break from work for at least 7 days. You need to recharge your batteries so that you can go hard the rest of the year.

2. Attend a conference. The Summer is a great time to sign up for a course or attend a conference in your industry to learn the latest trends and techniques.

3. Read a great business book. Pick a book that’s you have been meaning to read and learn a few techniques that will help you grow your business. I really like 201 Great Ideas for Your Small Business by Jane Applegate. http://www.amazon.com/Great-Ideas-Small-Business-Bloomberg/dp/0470919663/ref=dp_ob_title_bk

4. Revisit your business plan. In the first few years of a business, you should be updating your business plan every 90 days.  When is the last time you reviewed your marketing plan and how well it was working to drive sales. Make sure your budget and revenue projections are up-to-date.

5. Organize a Business Retreat. Take your team offsite treat them to some good food in a lush environment. Brainstorm with them to solve the top three issues in the business.  Bring in a trainer.

6. Ask for testimonials. Go back to all of your customers that you worked with over the last six months and ask for testimonials. Get them in writing to update your website and ask them to post recommendations to LinkedIn.

7. Refresh your website and marketing materials. Take a look at your website and marketing collateral including your blog header, business cards, and newsletter template.  If something was just thrown together just to get some out or you’ve been using the same template for a whole, take the time to clean up your design elements to make your brand shine.

8. Update your personal bio and profiles across social media. Every small business owner should have a professional biography.  Take this time to update yours with any new marquee clients, non-profit board service, and speaking opportunities. Be sure to update your profiles on your social media accounts as well.

9. Do a waste walk in your office. Summer is a great time to chuck the clutter.  The shredder is your friend. Get rid of stray paper, conference bags, direct mail, magazines, equipment that doesn’t work, and giveaways you really didn’t want anyway.

10. Develop a special offer. You need a reason to contact your customers.  Nothing is better than a discount, coupon or special offer.  You use this as your excuse to call, email or snail mail your existing customers. They are the most valuable asset in your business.

Do you have any other tips to keep a small business growing over the summer?

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

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

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9 Reasons Why Boomer Businesses Fail

By on June 13, 2011 in Ask Smallbizlady, Business Inspiration, Customer Service, Featured Post, Grow Your Business, How to Start, My Recommendations, Starting A Small Business
Baby Boomer

Baby Boomers Businesses

I know a woman (let’s call her Sarah) who was a vice president at a major Fortune 500 company. She was a sassy 48-year-old single MBA who was very successful climbing the corporate ladder. She worked in marketing, managing a brand at her company and making a handsome six-figure income. Then one day she decided that she wanted to start a business.

She did her research and decided to invest in a food franchise. She learned that franchises are 10 percent more likely to be successful than startups, so she decided to go for it. She hired an attorney to look over her franchise agreement. She spent weeks finding the perfect location and then hired an architect and contractor to develop her space. She gave notice at her job and invited everyone to her grand opening. She was so excited. She had prepared a thorough marketing plan and invested in local advertising through a coupon mailer.

Within two years, Sarah was back working in corporate America, grateful to have a job. I bumped into her and asked her what happened. She said, “I cannot be a slave to anything — especially something that does not fulfill me, and on top of that I hate teenagers and that’s who my employees were. I am grateful to be back at work with a regular paycheck.”

For baby boomers, making the transition from having a job to starting a business can be a tough road, no matter how successful you were in your previous life. Some of the issues that come up may have little to do with how well the business is doing financially.

Here are nine common trouble spots that cause baby boomer businesses to fail. These are the things that can destroy your entrepreneurial dream if they go unaddressed.

1. Not being coachable
To be successful in business, you must be a life-long learner and understand that you can learn something from anyone, even your interns and teenage employees. You also must be able to seek out– and take — advice from mentors and other entrepreneurs. Sometimes when you’ve been successful in the corporate world you might ask yourself “How hard could it be to run a small business?” Don’t be fooled; the hard work is endless!

2. Not developing a life plan
You need a life plan before you ever write a business plan. Take the time to think about what you want out of life, and then build a business around that. You need to know things like “How much money do I need to earn to be happy?” and “Is day-to-day variety important to me?” You do not want to start a business that is NOT a good business for you and your family.

3. Not having the energy
You must be honest about what you are willing to do to make your business a success. One of Sarah’s complaints was that she could not be a slave to anything. But that’s what it takes. In the first few years of running a business, your business owns you: 14- to 16-hour days are common, especially if you open a retail business that has long store hours. Can you physically sustain working seven days a week?

4. Not having a network
As a startup business, your network is your net worth. People do business with people they like, know and trust. You had no problem getting calls returned when you had a big corporate job, but once you are on the outside pounding the payment, it might be another story. Before starting a business, spend at least a year cultivating the market. If you are not good at making friends or are one of those people who never keeps in touch, entrepreneurship might not be for you.

5. Not willing to scale back your lifestyle
When you’ve been working a long time, and making good money, chances are you spend what you make. When you decide to become an entrepreneur, the first thing you should do is end your addiction to your paycheck. You must scale back your lifestyle to the essentials — and you need to cut back at least 12 months before you start your business. If you are someone who regularly enjoys retail therapy, eating out, extensive travel or indulging in the latest electronic gadgets, you might not adjust well to the entrepreneurial lifestyle.

6. Not saving enough money
In my book, Become Your Own Boss in 12 Months, I outline three pools of money that you should ideally have before starting a business. First, make sure you have the money to start your business. Then set aside enough resources so that you can survive for up to two years without a salary. On average it takes 18 to 36 months for a small business to break even, let alone replace your corporate salary. The third pot of money is your emergency savings. Your car may need to be replaced, your air conditioner may die, and your children may need college tuition. Your ability to start a business has everything to do with your ability to save money.

7. Having competing priorities
After age 40, you may have aging parents and perhaps a first grandchild that you’ve welcomed into the family. If you need to stay on top of your mother’s doctors’ visits or help out your daughter and son-in-law with the new baby, it may be really tough to get a new business off the ground because you will not have any spare time.

8. Lack of a niche target market
Too many small-business owners sell to anyone they think has money. Define your niche customer and make sure you know why your customer will buy from you. It is so much easier to develop a marketing strategy when you know who you are trying to reach. You have limited time and limited resources. Customers want to hire businesses that specialize in solving their problem.

9. Lack of personal and fiscal discipline
If you do not run your household on a budget, you likely will struggle to run your business on one. You must make business decisions based on up-to-date financial information. Will you make money decisions without consulting your budget? How will you focus on tasks that generate money? Will you raid the cash register whenever you need money? You should know in advance how much money you are making on each sale; otherwise, you might have an expensive hobby.

If you focus on these nine areas as you are planning your midlife transition, you are far more likely to start a sustainable and profitable small business.

This article was originally posted on SecondAct.com. The content of this article is copywritten by Entrepreneur Media all rights reserved. www.secondact.com

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

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9 Reasons Why Boomer Businesses Fail

By on June 13, 2011 in Ask Smallbizlady, Business Inspiration, Customer Service, Featured Post, Grow Your Business, How to Start, My Recommendations, Starting A Small Business
Baby Boomer

Baby Boomers Businesses

I know a woman (let’s call her Sarah) who was a vice president at a major Fortune 500 company. She was a sassy 48-year-old single MBA who was very successful climbing the corporate ladder. She worked in marketing, managing a brand at her company and making a handsome six-figure income. Then one day she decided that she wanted to start a business.

She did her research and decided to invest in a food franchise. She learned that franchises are 10 percent more likely to be successful than startups, so she decided to go for it. She hired an attorney to look over her franchise agreement. She spent weeks finding the perfect location and then hired an architect and contractor to develop her space. She gave notice at her job and invited everyone to her grand opening. She was so excited. She had prepared a thorough marketing plan and invested in local advertising through a coupon mailer.

Within two years, Sarah was back working in corporate America, grateful to have a job. I bumped into her and asked her what happened. She said, “I cannot be a slave to anything — especially something that does not fulfill me, and on top of that I hate teenagers and that’s who my employees were. I am grateful to be back at work with a regular paycheck.”

For baby boomers, making the transition from having a job to starting a business can be a tough road, no matter how successful you were in your previous life. Some of the issues that come up may have little to do with how well the business is doing financially.

Here are nine common trouble spots that cause baby boomer businesses to fail. These are the things that can destroy your entrepreneurial dream if they go unaddressed.

1. Not being coachable
To be successful in business, you must be a life-long learner and understand that you can learn something from anyone, even your interns and teenage employees. You also must be able to seek out– and take — advice from mentors and other entrepreneurs. Sometimes when you’ve been successful in the corporate world you might ask yourself “How hard could it be to run a small business?” Don’t be fooled; the hard work is endless!

2. Not developing a life plan
You need a life plan before you ever write a business plan. Take the time to think about what you want out of life, and then build a business around that. You need to know things like “How much money do I need to earn to be happy?” and “Is day-to-day variety important to me?” You do not want to start a business that is NOT a good business for you and your family.

3. Not having the energy
You must be honest about what you are willing to do to make your business a success. One of Sarah’s complaints was that she could not be a slave to anything. But that’s what it takes. In the first few years of running a business, your business owns you: 14- to 16-hour days are common, especially if you open a retail business that has long store hours. Can you physically sustain working seven days a week?

4. Not having a network
As a startup business, your network is your net worth. People do business with people they like, know and trust. You had no problem getting calls returned when you had a big corporate job, but once you are on the outside pounding the payment, it might be another story. Before starting a business, spend at least a year cultivating the market. If you are not good at making friends or are one of those people who never keeps in touch, entrepreneurship might not be for you.

5. Not willing to scale back your lifestyle
When you’ve been working a long time, and making good money, chances are you spend what you make. When you decide to become an entrepreneur, the first thing you should do is end your addiction to your paycheck. You must scale back your lifestyle to the essentials — and you need to cut back at least 12 months before you start your business. If you are someone who regularly enjoys retail therapy, eating out, extensive travel or indulging in the latest electronic gadgets, you might not adjust well to the entrepreneurial lifestyle.

6. Not saving enough money
In my book, Become Your Own Boss in 12 Months, I outline three pools of money that you should ideally have before starting a business. First, make sure you have the money to start your business. Then set aside enough resources so that you can survive for up to two years without a salary. On average it takes 18 to 36 months for a small business to break even, let alone replace your corporate salary. The third pot of money is your emergency savings. Your car may need to be replaced, your air conditioner may die, and your children may need college tuition. Your ability to start a business has everything to do with your ability to save money.

7. Having competing priorities
After age 40, you may have aging parents and perhaps a first grandchild that you’ve welcomed into the family. If you need to stay on top of your mother’s doctors’ visits or help out your daughter and son-in-law with the new baby, it may be really tough to get a new business off the ground because you will not have any spare time.

8. Lack of a niche target market
Too many small-business owners sell to anyone they think has money. Define your niche customer and make sure you know why your customer will buy from you. It is so much easier to develop a marketing strategy when you know who you are trying to reach. You have limited time and limited resources. Customers want to hire businesses that specialize in solving their problem.

9. Lack of personal and fiscal discipline
If you do not run your household on a budget, you likely will struggle to run your business on one. You must make business decisions based on up-to-date financial information. Will you make money decisions without consulting your budget? How will you focus on tasks that generate money? Will you raid the cash register whenever you need money? You should know in advance how much money you are making on each sale; otherwise, you might have an expensive hobby.

If you focus on these nine areas as you are planning your midlife transition, you are far more likely to start a sustainable and profitable small business.

This article was originally posted on SecondAct.com. The content of this article is copywritten by Entrepreneur Media all rights reserved. www.secondact.com

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

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The Minority Entrepreneur Accelerator Program Could Be Your Answer

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

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

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

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

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

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

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

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


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

By on June 3, 2011 in Ask Smallbizlady, Become Your Own Boss Tips, Business Inspiration, BYOB2011, Customer Service, Featured Post, Grow Your Business, My Recommendations, Social Media, Technology, Women in Business, Your Small Business

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

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

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

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

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Do you need a Small Business Makeover?

By on June 1, 2011 in Ask Smallbizlady, Become Your Own Boss Tips, Branding & Marketing, Customer Service, Featured Post, Grow Your Business, Mompreneurs, My Recommendations, Social Media, Technology, Your Small Business

Pitney Bowes wants to give your business a communications makeover worth up to $10,000. If you could use some help with your email, direct mail and social media communications, you can win a free year of using Pitney Bowes’ full suite of business tools.  The grand prize winners will also receive in person one-on-one coaching from me @Smallbizlady and my colleagues marketing expert Jane Applegate and technology expert Phil Simon.Pitney Bowes Makeover Small Business

 

 

You have until July 19th to tell us how you’d improve your business communications. The earlier you enter the better as you will need to get a social media pals to vote for you in order to become a finalist. To enter write a 300 word essay on your biggest communications challenge or send in a one minute video. Click here to enter the Pitney Bowes Small Business Makeover Contest     http://www.pbsmartessentials.com/makeover/

Disclosure: I am a paid consultant to Pitney Bowes to participate as a judge and business coach in this makeover contest!

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

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

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Should I put my picture on my business card?

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

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

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

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

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

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

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

I’m always here as a resource.

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Enchantment by Guy Kawasaki is Worth the Read

By on May 18, 2011 in Branding & Marketing, Melinda Emerson @SmallBizLady, My Recommendations, Your Small Business
Enchantment, Guy Kawasaki

Look for Guy Kawasaki's New Book Enchantment!

Enchantment by Guy Kawasaki is a great book for emerging small business owners. I like that Guy gives readers every trick and good idea that he knows from how to make a great impression, get customers behind your cause, and even how to resist enchantment. He says that enchantment is a process, not an event. It’s all about nurturing the long-term relationship that will generate repeat customers and create a sustainable business.

One of my favorite chapters in the book is How to Enchant Your Employees This chapter is about helping the people who work for you achieve MAP mastery, autonomy and purpose.  He’s also a huge advocate of telling people that you want them. He writes, “At the end of every day, one of the most valuable assets in your business goes home. The question is whether they will return in the morning. An enchanting boss make sure that her employees know they are valuable and they are appreciated.” This is some powerful advice.

I love the amount of research that is behind this book. It’s not just a bunch of war stories. There’s real science in here. If you follow Guy’s road map your business will be better for it.

If I could make any criticism of Enchantment it would only be that there’s too many apple “related” examples in this book—but the content is so good this is relatively minor.

Grab this book today. I loved reading it.

Melinda F. Emerson, SmallBizLady, is one of America’s leading small business experts. She is an author, speaker and small business coach whose areas of expertise include small business start-up, business development and social media marketing. As CEO of MFE Consulting LLC, Melinda develops audio, video and written content to fulfill her mission to End Small Business Failure.  She publishes a resource blog, www.succeedasyourownboss.com and hosts a weekly talk show on Twitter called #Smallbizchat for emerging entrepreneurs.  Forbes Magazine named Melinda Emerson one of the Top 20 Women for Entrepreneurs to follow on Twitter. Melinda has been featured in the New York Times, Wall Street Journal, The Washington Post, Fortune and Black Enterprise. She’s the author of the bestselling book “Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works.” She writes a column for www.secondact.com, and is an instructor for the Black Enterprise Small Business University.

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7 Keys to Power Networking

By on May 16, 2011 in Become Your Own Boss Tips, Branding & Marketing, Grow Your Business, How to Start, Melinda Emerson @SmallBizLady, My Recommendations, SmallBizChat, Your Small Business

7 Keys to Power Networking

Success Power Networking

Power Networking at Business Event

May 16th kicks off National Small Business Week and for the next seven to 14 days there are tons of events and awards ceremonies for small business owners which is a fantastic opportunity to meet and greet potential contacts.  I keynote and speak at many conferences and small business events, and often I see small business owners doing their businesses a disservice by how they show up and network at events.  With tons of networking opportunities taking place from now until Memorial Day, I wanted to provide a guide on how to prepare for a networking event. I call them my 7 Keys to Power Networking.

Here are 7 things to consider when networking:

  1. 1. Set a Goal. Don’t go to any event without a goal in mind. You should always know why you are attending the event. You should not go to any event where your best target customers are not the majority of the attendees. When I attend events, I try to secure 5 quality contacts and that’s it. Why? Because there’s only so much time to follow-up with people.  The fortune is in the follow-up, I’ll talk about that in next week’s blog post.

 

  1. 2. Research Attendees. Try to find out who is attending the event. Look at who’s on the board of the event sponsor. Check out the names of the honorary committee hosting the invitation. Make a call to the organizers to try to get as much information as a possible.  (If they utilized an online invitation, you can see who else was invited. Use Google and LinkedIn to research as many attendees as possible. This makes having conversations much more interesting and you’ll show your prospect you’ve got legitimate interest in them. You want to learn any information that will help you make a personal connection as quickly as possible.

 

  1. 3. Bring You’re A Game. You can’t bring your A game in your B suit. Make sure you look great head to toes.  Men shoes are important. Ladies make sure the makeup and neckline are appropriate.  Everything should fit well, and it will really boost your confidence. You don’t get a second chance make a first impression!  Dress how you want others to perceive you and your business.

 

  1. 4. The Reception IS The Event. Game time is the reception. DO NOT BE LATE! The reception is your best chance to track down your targets. You must be on time and armed with your business cards at the reception. Why? Once you take your seat you can only network with the other 9 people at your table. If you are going to attend an event with a friend– divide and conquer the event.

  1. 5. Go For The Relationship– Not The Chicken. Do not head immediately to the food table. Work The Room! Be fearless and ready to introduce yourself to anyone. Once you make a contact maintain eye contact. Don’t look over their shoulder at your key target who just entered the room. Be present where you are. Anyone could potentially be a great contact.

  1. 6. Moving On From A Contact. Moving on can be tricky. It’s important not to be rude. But most likely the person you are talking to has an agenda too, so do not hesitate to shut down the conversation and move on.  Here’s three great lines you can use to make a graceful exit.  Use one of these lines as appropriate; “It was so nice to meet you, I’m going to head over to get a drink.”  or  “It was so nice meeting you and I’m going to give you a call.”  “I do not want to monopolize you at this event, I am sure there are more people in here you want to meet. Let keep in touch and see how we can help each other.”  With any of these lines you can smoothly move on to your next potential prospect.

  1. 7. Take Notes. You’ll want to remember the details of your conversations, write down a few notes on the back of the contact’s business card to help your memory later.  If you meet a lot of people each week sometimes it’s hard to keep people straight relying on your memory. Your notes will help making follow-up much more personal.

 

What other networking tips do you have? I love to learn about other good ideas.

 

Melinda F. Emerson, SmallBizLady, is one of America’s leading small business experts. She is an author, speaker and small business coach whose areas of expertise include small business start-up, business development and social media marketing. As CEO of MFE Consulting LLC, Melinda develops audio, video and written content to fulfill her mission to End Small Business Failure.  She publishes a resource blog, www.succeedasyourownboss.com and hosts a weekly talk show on Twitter called #Smallbizchat for emerging entrepreneurs.  Forbes Magazine named Melinda Emerson one of the Top 20 Women for Entrepreneurs to follow on Twitter. Melinda has been featured in the New York Times, Wall Street Journal, The Washington Post, Fortune and Black Enterprise. She’s the author of the bestselling book “Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works.”

Comments { 3 }

11 Great Technology Tools for Small Business

By on April 27, 2011 in My Recommendations, Technology, Your Small Business

As SmallBizLady, my mission is to end small business failure.  To that end, I love to share great free resources that can help small business owners save time and money.  Here are my 11 favorites that I am sure you’ll find beneficial to your business operations.  If you embrace these technology tools you’ll be amazed how much more efficient you will be each day in your small business.

Here’s my best small business finds:

1. Gmail.com

Google provides a great free email solution which also integrates seamlessly with Google calendar.  Some of the features of Gmail include: You don’t need to have MS Office to download attachments—you can download any file into as a Google document. Gmail comes with 5GB of storage and can be accessed from any computer. It also saves every email address you send messages to, and has one of the best spam filters around. Even if you have a branded email address you should have a Gmail address too.

2. LinkedIn.com

LinkedIn is one of the world’s largest professional networks with over 100 million members. LinkedIn allows small business owners to connect with old and new contacts. This allows you exchange knowledge, ideas, and search for prospects across a broad network of professionals.  In today’s professional world, people change jobs and locations constantly.  By connecting on LinkedIn, your address book will never go out of date. Every small business owners needs a professional LinkedIn profile to make sure that potential business leads can search for you.

3. Facebook Fan Pages

Think of a Facebook Fan Page as a secondary website for your small business. The tabs at the top of the page are like site navigation.  You can have a tab for your newsletter sign-up, a tab for customer testimonials, and a tab for products & services.  One of nicest thing about fan pages is it allows the business to communicate directly with a small group of people who like the fan page. In order to have a successful page you must provide regular content and interact with your fans.  Showing up every few weeks won’t cut it.  It’s best to post every day or even several times a day to make sure your fans know you care.

4. Twitter.com

Twitter is a social media tool and microblogging website that demands that you only use 140 characters or less to communicate with your followers (think text messages). Twitter is a great way to monitor your clients and your competition. You can also get instant feedback on your latest offers in real-time.  One of my favorite uses of Twitter is to get answers to questions or find resources and vendors. Twitter allows to follow the most compelling conversations. You can also create the conversation. Every Wednesday 8-9pm ET, I host #Smallbizchat on Twitter to answer questions for small business owners.  

5. Hootsuite.com

Once you have all of your social media accounts set up, the next thing you need is a way to stay on top of all of the status updates. Hootsuite is a web-based application containing an entire set of tools to manage, track, analyze, and schedule your social networking campaigns.  Not only does this web application let the user post to multiple social media sites, such as Twitter, Facebook, and LinkedIn at one time, it also allows you to schedule tweets and updates in advance.  If fans and followers should be updated about a special sale for tomorrow, the message can be scheduled today.

6. Bit.ly

Once you create your content you will want to keep your links short so they can be shared easily. Bit.ly shortens your long links so you can share your content on Twitter, Gmail, Email, or Facebook. It also allows you to develop custom links and get personalized stats on the open rates for your Bit.ly links. This is a really useful tool.

7. Rapportive.com

Rapportive shows you everything about your contacts.  You can use this service to connect to your contacts across their entire social media footprint on Facebook, Twitter and LinkedIn.  It works right inside your email inbox. It helps you know what the web knows instantly. If you use Gmail, it replaces all those Google ads with helpful information.

8. Dropbox.com

Dropbox is the easiest way to store, sync, and share files online.  There’s no complicated interface to learn.  It works seamlessly with your operating system. It’s a great way to make sure you have the right version of any document, which is really helpful when you are working on a team project.  Dropbox allows you up to 2GB of storage free and you can sync your files of any size and across all your computers automatically.

9. Tungle.me

Tungle.me is a scheduling application that syncs with your existing calendar. It eliminates double-bookings and time zone mishaps. The Tungle.me application supports Google, Outlook, Apple iCal, Entourage for Mac, Lotus Notes, Windows Live, Yahoo! and connects to major social networks including Facebook, Plancast, TripIt, LinkedIn and Twitter.

10. Skype.com

Skype is a software application that allows users to make voice calls over the Internet. Calling other computers is free. Calling other phones is really cheap. You can accept calls with Skype or set up voicemail. You can also connect to more than one person at a time to do conference calls. It’s all very simple. Additionally, you can use Skype for instant messaging, sharing files, and video conferencing. One of the best features I like is that it records all conversations that take place using instant message.

11. Delicious.com

Delicious is a social bookmarking service that allows users to tag, save, manage, and share web pages from a centralized source.  It’s a great way to remove paper from your desk.  When you find a great article on the internet that you want to save but don’t want to kill a tree to print it, now you just save it to your delicious file and you’ll always know where you can find it when you want to refer back to it. You can make what you save in delicious public or private.

You may not need all of these software options in your business, but if you find yourself in need of a resource refer back to this list of free options first.

 

Melinda F. Emerson, SmallBizLady, is one of America’s leading small business experts. She is an author, speaker, and small business coach whose areas of expertise include small business start-up, business development, and social media marketing.  As CEO of MFE Consulting LLC, Melinda develops audio, video and written content to fulfill her mission to End Small Business Failure.  She publishes a resource blog at: www.succeedasyourownboss.com and hosts a weekly talk show on Twitter called #SmallBizChat for emerging entrepreneurs.  Forbes Magazine named Melinda Emerson one of the Top 20 Women for Entrepreneurs to follow on Twitter. Melinda has been featured in the New York Times, Wall Street Journal, The Washington Post, Fortune, and Black Enterprise.  She’s the author of the bestselling book “Become Your Own Boss in 12 months: A Month-by-Month Guide to a Business That Works”, and she writes a column for www.secondact.com and is an instructor for the Black Enterprise Small Business University.

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SCORE has a new resource for small business owners

By on April 13, 2011 in My Recommendations, Technology, Your Small Business

On April 12, SCORE kicked off a national E-Business Now initiative. It’s the first-ever public/private partnership to encourage digital literacy by U.S. small businesses. The consortium formed in response to The Broadband Plan released by the Federal Communications Commission.  They have created a new website with great technology resources: www.ebusinessnow.org

SCORE is also doing regional events to help small businesses understand how technology can help them run more efficiently and compete more globally.  The entire effort focuses on leveling the playing field for business success.

The next regional event will be held Sept. 27, 2011 in Philadelphia, PA so stay tuned for details.

Fortune 500 companies and leading technology firms are partnered with SCORE to provide training, tools, and resources to small businesses.  Partners include AT&T, Best Buy, Cisco, Constant Contact, Google, HP, Intuit, Microsoft, Skype, and Time Warner Cable Business Class.  The small business partner is DRT Strategies.

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Now Read This: Small Business Taxes Made Easy

By on April 6, 2011 in Cash Flow & Finance, My Recommendations, Your Small Business

Small Business Taxes Made Easy: How to increase your deductions, reduce what you owe, and boost your profits (2nd Edition) by Eva Rosenberg I like this book Small Business Taxes Made Easy: How to Increase Your Deductions, Reduce What You Owe, and Boost Your Profits by Eva Rosenberg (@TaxMama).

It is great no-nonsense tax-advice! Eva is passionate about helping small business owners pay the least business taxes legally possible, but she also provides information (however tough it may be to read) on how to make your business more profitable. This book is full of effective business tax strategies that are good at tax time and throughout the entire year as you are running your small business.  I conducted an interview with her to ask her more information about her book. Check out her other tax resources at www.taxmama.com

SmallBizlady: What are the tax characteristics of successful business owners?

TaxMama®: They take the time to do three primary things for their business.

  • Foundation: They take the steps outlined in Chapter 1 of Small Business Taxes Made Easy to get the proper licenses, file with the proper government agencies, get the minimum requisite insurance coverage, and find the best advisors, vendors and resources for their business.
  • Prosperity: Successful business owners have business plans. They look at the big picture relative to their business goals, tying them in to their personal and family goals. Not only is this essential for building a good life, it ensures the business becomes ever-pro profitable, and protects them in the event of tax audits.
  • Tax Planning: They meet with their tax advisors, and perhaps their advisory team, at least twice a year to lay out a tax plan and to rebalance it as the year’s profits or losses emerge.

o   This avoids the complaint one talk show host got from a local CPA. His client complained that his CPA wasn’t letting him take the medical and health care insurance deductions that TaxMama® said his business should have.
o   Why couldn’t he use those deductions? Simple. He had never taken the time to call his CPA to do the planning to establish the written plan his business needed in order to claim those deductions. Continue Reading →

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Do you have an Army of Entrepreneurs in your company?

By on March 30, 2011 in Business Inspiration, Grow Your Business, My Recommendations, Your Small Business

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

Smallbizlady:  What is an ARMY OF ENTREPRENEURS?

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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3 Technology Tools For Your Small Business

By on March 23, 2011 in My Recommendations, Technology

I love to share great free resources that can save you time and money in your small business. Here are a few free software suggestions that I’m sure you’ll find beneficial to your business.  

If you embrace technology tools you’ll be amazed how much more efficient you will be each day. My three great finds are:

1) Dropbox.com – Dropbox is the easiest way to store, sync, and, share files online. There’s no complicated interface to learn. It works seamlessly with your operating system. It’s a great way to make sure you have the right version of any document, which is really helpful when you are working on a team project. Dropbox allows you up to 2GB of storage free and you can sync your files of any size and across all your computers automatically.

2) Rapportive.com – Rapportive shows you everything about your contacts.  You can use this service to connect to your contacts across their entire social media footprint on Facebook, Twitter and LinkedIn.  It works right inside your email inbox. It helps you know what the web knows instantly. If you use Gmail, it replaces all those Google ads with helpful information.

3)Tungle.me — Tungle.me is a scheduling application that syncs with your existing calendar. It eliminates double-bookings and time zone mishaps. The Tungle.me application supports Google, Outlook, Apple iCal, Entourage for Mac, Lotus Notes, Windows Live, Yahoo! and connects to major social networks including Facebook, Plancast, TripIt, LinkedIn and Twitter.

Have you come across any resource lately that would help small business owners?  Do tell.

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

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