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The Minority Entrepreneur Accelerator Program Could Be Your Answer

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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Do you need a Small Business Makeover?

by Melinda Emerson on June 1, 2011 in Ask Smallbizlady, Become Your Own Boss Tips, Branding & Marketing, Customer Service, featured, 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.

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

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

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

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

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

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

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

I’m always here as a resource.

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Enchantment by Guy Kawasaki is Worth the Read

by Melinda Emerson on May 18, 2011 in Branding & Marketing, My Recommendations, Uncategorized, Your Small Business

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

7 Keys to Power Networking

Power Networking at Business Event

May 16^th 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. 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.

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.

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.

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.

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.

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.

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.

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11 Great Technology Tools for Small Business

by Melinda Emerson 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 sss4success 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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Small Business Taxes Made Easy: How to increase your deductions, reduce what you owe, and boost your profits (2nd Edition) by Eva Rosenberg @TaxMama

Now Read This: Small Business Taxes Made Easy

by Melinda Emerson on April 6, 2011 in Cash Flow & Finance, My Recommendations, Your Small Business

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

Do you have an Army of Entrepreneurs in your company?

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

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

Smallbizlady: What is an ARMY OF ENTREPRENEURS?

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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3 Technology Tools For Your Small Business

by Melinda Emerson 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.

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

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Ask Smallbizlady: Why Do Small Businesses Fail?

by Melinda Emerson on March 11, 2011 in Ask Smallbizlady, My Recommendations

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

This week, we are taking on the question why do so many small businesses fail?

Here are the 5 Top Reasons Small Businesses Fail

No Life Plan
No Network
Not Saving Enough Money Upfront
No Niche Customer
No Fiscal Discipline

Like I suggest in my book Become Your Own Boss in 12 Months, you need to think about what your life is going to be like as an entrepreneur first, and then build a business that supports that vision. Start a good business that is good for you and your family.

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

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

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Great Resource for Aspiring Authors

by Melinda Emerson on March 2, 2011 in My Recommendations

Stephanie Chandler @bizauthor, has written and published a new book, Booked UP! How To Write, Publish and Promote a book to Grow Your Business.

I must admit that I am a big fan of Stephanie’s from her publication From Entrepreneur to Infopreneur Make Money with books, E-Books and Information Products (Wiley & Sons, 2006)

In Booked Up!, Stephanie breaks down the pros and cons of the traditional book deal and self publishing. She’s done both, and does a good job of laying out the case for either approach. I think the fact that she self published this book tells you that she believes self publishing is the best option.

Part Three – How the write a book—FAST! is a real gold mine for developing an action plan to get your book done now. In Part Four, her book is all about developing an author platform, and she goes in depth with social media in Part Five. I found her advice about article marketing and virtual tours especially helpful.

The resource section at the end of this book is terrific, as well. I even learned about some needed resources and associations from reading this book.

My only critical comment is that I wish the book was a bit longer. At 138 pages, you’ll whip through this book in no time.

If you always wanted to write a book and don’t know where to start, Booked UP! is a great way to start.

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. She has been featured on NBC Nightly News, in Forbes, the Wall Street Journal and Black Enterprise Magazine. 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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Smallbizlady Help! I Need A Business Mentor

by Melinda Emerson on February 28, 2011 in Grow Your Business, My Recommendations, Women in Business

Dear Smallbizlady, I know how important it is to have a business mentor, but I don’t know many successful entrepreneurs. What’s the best way to go about getting one?

You’re right about the value of having a mentor, especially today. Choosing a mentor should be a real process of identifying the best person to help you get where you want to go in your business. You should cultivate a strong enough relationship so that asking to become your mentor becomes a natural request with clear mutual benefits.

If you want a mentor, you want to identify several people in order to hedge your bets. Your selections should be based on who would be best positioned to help you, their time availability and their influence. Then you want to establish a relationship, perhaps by volunteering to work on a nonprofit they support. It’s also worth developing relationships with people around this person, so that you become even more of a known quantity.

Your goal is to present yourself in a very professional way. Make sure that they know you are worth their time. Bear in mind that mentors don’t take on mentees out of altruism–they’re looking to take on valued contributors who they can grow as well as help them down the line.

Establish a rapport by trying to secure a lunch or coffee appointment at first. If that goes well, ask him or her to become your mentor. It should be a natural discussion to have. Be prepared with your paperwork—often times mentors ask for business plans and the latest financial statements.

Be sure to express–a clear idea of what you want your potential mentor to help you with in your business. This gives your potential mentor a way to assess whether or not they can truly help you.

Many people who want mentors fail to communicate a strong sense of what it is they want out of the relationship, and that can be an obstacle to both getting a mentor and having a successful relationship with them down the line.

Another great resource for finding a business mentor is SCORE, the organization provides free online and face-to-face business counseling, mentoring, training and advice for small businesses just starting out or hoping to take their business to the next level. http://www.SCORE.org

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. She has been featured in the New York Times, Washington Post, Entrepreneur, Wall Street Journal and Black Enterprise Magazine. She hosts #SmallBizChat weekly on Twitter for emerging entrepreneurs and 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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