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Making Love & Money: How to Be Successful Couplepreneurs

By on October 1, 2009 in How to Start, SmallBizChat, Women in Business

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wed on Twitter from 8-9pm ET. This is excerpted from my recent interview with Donna Maria Coles Johnson @indiebusiness on Twitter. She is an award winning entrepreneur who has inspired millions through her seminars and her role as the leader of the Indie Beauty Network and Indie Business Revolution events nationwide. She also produces Indie Business Radio show.  Donna Maria co-owns Indie Business Media, LLC, with her husband of 10 years Darryl Johnson @djphotographer. They have two children and a passion for empowering other married couples to harness their talents and gifts to own and manage a business of their own. For more information http://www.indiebeauty.com and http://www.indiebusinessblog.com

Smallbizlady:  How did you and your husband start in business together?

@indiebusiness:  He was laid off. I already had my business. We looked at our talents and gifts and saw an opportunity to merge them into a family business so that’s what we did.

Smallbizlady:  How is your business set-up? 

@indiebusiness:  We are a home based business. I have an office, and he has an office, on different floors.  We have 2 kids, ages 5 and 7.  We used to have nearly full-time help when the kids were infants and toddlers. Now, we hire help when we need it. Our children are used to us working at home.

Smallbizlady: How do you work at home with young children around?

@indiebusiness:  It’s a challenge. We call it “tag teaming.” He takes them so I can work, and vice versa. If we have to be working together, which is a lot of the time, they play in a play room or outside in the yard. This happens a lot when we are taping a show or doing audio recordings. We need quiet and that is hard to come by with two kids around all the time. We also use young teens in the neighborhood to babysit sometimes. It all works well.

Smallbizlady: How do you stay on track? With kids, home, business, etc.?

@indiebusiness: Well, we meet every day (sometimes early in the morning, sometimes later at night after kids are asleep) to list the 5 top priorities each of us has for that day.

Smallbizlady: How do you handle disagreements about the direction of the business?

@indiebusiness: It doesn’t happen often because our responsibilities are pretty clearly drawn. He does what he does best and I do what I do best.  But when it does happen, we look at the issue and see who it matters the most to. If it’s a part of the business that is in my bailiwick, then I usually have the final say. If it’s more his area, then he usually has the final say. That’s not always predictable, but because we want to make a profit and stay married, we have to look at who would be most impacted by a particular decision. That usually helps us figure out what to do.

Smallbizlady:  How do you handle it when disagreements spillover into your personal relationship?

@indiebusiness: We used to argue about it. Eventually though, we both just started being honest. If I’m upset about something on the business side, I tell him that, and I also tell him that I am not feeling “warm and cozy” tonight because I’m stewing over a business issue. He does the same. We have learned that the time to raise touchy business issue is during the business day. And we pretty much do that. If someone can’t get over it that night, well, we’ve learned to go to separate corners. We always come back together in a few hours anyway. We are patient and forgiving of each other and that’s really the bottom line. We also don’t hold grudges. We believe in each other, know that we have each other’s best interests at heart and give the benefit of the doubt. We try to start each day fresh, like a new beginning for each of us.

Smallbizlady: How to you separate the business from your day to day married life?

@indiebusiness: Well, there really is not a lot of separation. The reality is that the security and long term viability of the business and the marriage are quite intertwined. Conflict in one area affects the other. Success in one area affects the other. It’s a constant ebb and flow of both personal and professional weaving back and forth to form a holistic entity that includes both our family and our business.

Smallbizlady: So, who reports to whom?

@indiebusiness: Well, it depends on the issue. When it comes to what to wear for a video, how to sound, how to stand or hold the props or what music goes best in the video, I report to him. When it comes to what video project to undertake next, he reports to me. Again, it works because he knows what he’s responsible for and I know what I’m responsible for.

Smallbizlady: Have you ever wanted to quit?

@indiebusiness: Yes. Once when we ran out of money and again when we ran out of money. That’s true, but seriously, there are times when we become frustrated with one another. We work together, live together, sleep together, raise kids together – all under one roof. We’ve known each other for nearly 30 years and been married for 10 of those years so we do get on each other’s nerves from time to time. But we both have our separate interests outside of the business and the marriage so when we need to take a break, that’s what we do.

Smallbizlady: What 4 tips can you offer to help other couples get started in business as WAHMs and WAHDs (Work at Home Moms and Dads)?

@indiebusiness: First, make sure that you can be content spending inordinate amounts of time together. If you drive each other totally nuts in separate work spaces, it’s probably not a good idea to work together. Having said that, if you find that your employment opportunities are drying up and you have to work together, I suggest you suck it up and get on with it. You have to eat, and if you have to create a business together to make that happen, then do it.

Next, make sure that the business offers a needed product or service. Don’t jump in without doing some market research first, just like with any other business.

Next, be sure to divide up responsibilities. Each person needs what amounts to a job description so they can be accountable for their responsibilities. Have regular meetings to air out options and disagreements so they don’t impeded your progress.

Know each other’s strengths and weaknesses. As in a marriage, you each bring different things to the party. Just like in your personal relationship, work to minimize each other’s weaknesses so you are a strong and united force together.

Smallbizlady: I know that you and your husband participate in a couple’s mastermind group. How is that helpful?

@indiebusiness: Our couple’s mastermind group is extremely helpful on many levels. Accountability for one thing. For another, the group provides real support. We are all  going through the same things – juggling kids, family business, marriage. It helps to know that other similarly situated people are pulling for us. We help and encourage each other.

If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter. 

How to participate in #SmallBizChat: http://bit.ly/S797e

For more tips on starting or growing your small business subscribe to Melinda Emerson’s blog at www.succeedasyourownboss.com

Links to relevant articles:

Making Love and Money: http://www.indiebusinessblog.com/2008/09/01/making-love-and-money/

How to Start a Couple’s MasterMind Group, Part 1: http://www.indiebusinessblog.com/2009/07/30/how-to-start-a-couples-mastermind-group/

How to Start a Couple’s MasterMind Group, Part 2 http://www.indiebusinessblog.com/2009/08/21/video-how-to-start-a-couples-mastermind-group-part-2/

Bliss, Diss and Kiss: http://www.indiebusinessblog.com/2009/05/21/bliss-diss-and-kiss-reflections-on-marriage-on-my-9th-wedding-anniversary/

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How to Stop Wasting Time With Your Social Media

By on September 24, 2009 in SmallBizChat, Social Media, Women in Business

Each week as Smallbizlady, I conduct interviews with small business experts on my weekly Twitter talk show #SmallBizChat. This is excerpted from my #SmallBizChat interview @Lenawest, Lena is a social media locksmith who helps dynamic women business owners untangle “social media spaghetti.” She makes social media easy-to-use, manageable and worthwhile. She also a columnist and blogger for Entrepreneur Magazine and Fast Company. For more information her website http://www.xynoMedia.com

Smallbizlady: Why does social media become such a black hole of time for so many people?

Lena West: Because for the most part, it’s easy to use. Notice I didn’t say easy to use effectively, I said, easy to use. And, the tools are mostly intuitive. Click here, type that, etc. And, people mistakenly equate easy-to-use with knowing what and why to do something and then it’s all downhill from there. It’s hour after hour of trying to get it right — to no avail.

Smallbizlady: Why is the source of where business owners get their social media information so critical to success with social media?

Lena West: Because everyone has an agenda. And, I don’t mean that in a bad way. I have an agenda, too. I am passionate about helping women CEO’s. So every word out of my mouth is going to be in favor of them and my agenda is to help them remove the “craziness” from social media and start using it as a marketing tool that gets results.  So, women CEO’s need to know where they’re getting their information. Is it from someone who’s just learning what it means to be a business owner or is it from a 12-year business veteran like myself?Understand to whom you’re listening and make sure you’re on their agenda. 

Smallbizlady: You talk a lot about people tapping into a “why” when they are using social media to market their businesses, how does that help them save time? 

Lena West: Once you figure out what your company needs to get from the blogosphere, you can figure out how and what to contribute. It’s like being in a relationship with a guy. You can’t figure out what you want from him until you figure out where you’re going in life overall. Otherwise you’re just hanging around watching each other breathe and there’s no way that’s productive.

Smallbizlady: Social media has its own vocabulary, is it important for entrepreneurs to understand the lingo – even minimally?

Lena West: Absolutely, it is. Anyone who knows me knows that I do NOT believe women CEO’s should spend all their time thinking about and learning social media “stuff”. But, just like you need to know how to read a profit and loss statment without being a CPA and sniff out a crappy contract without being a lawyer — you need to understand the basics of social media. And, if you don’t know, ASK. Educate yourself so people can’t give you the ear hustle about social media, even if they try.

Smallbizlady: How can business owners resist the urge to join everything and accept everybody?

Lena West:  They can treat it like they do everything else — have rules. Whether we know it or want to admit it or not, we all have rules. Rules for how we allow people to speak to us. Rules for how we allow people to treat us. Same deal with social media and social networking. You need to have rules. I get invites to join other social networks all the time, but I ignore them. I know where my market is and that’s what I care about. What do I care if my friends are on some other social network? My market’s on Facebook and so that’s where I put my energy. It’s OK to delete and ignore requests that don’t meet your business needs.  

Smallbizlady: What’s the quickest, most effective way for CEOs to evaluate social media consultants?

Lena West:  I’ve met so many “so called” social media consultants. They have glossy websites and you have a conversation with them and they’re managing PPC campaigns or running website stats. Those are all honorable jobs, but if you’re a social media consultant, don’t you think you should be working with social media tools? The bottom line is this: unless someone makes the lion’s share of their livelihood providing social media services to clients, they’re a hobbyist. If they’re not writing and PAID to speak about social media topics, they’re a hobbyist. Again, know your information sources!

Smallbizlady: How can we make sure that we’re being effective with our social media work – what metrics should we measure, etc?

Lena West: This greatly depends on the business owner’s goal. If you are using social media to learn more about your market, then you should be measuring how your products and services are resonating with your market (one way to do this by asking and keeping track of the answers you get). If you’re measuring blog post comments or some other metric, you’re not connecting the metric back to your original goal.

Smallbizlady: Many business owners now have less staff and thus less time for marketing, What is your Social Media Auto Pilot Program?

Lena West: This is a program that I’m really proud of. Women Business Owners love it. They get to work with me to figure out the big picture and then our team of VA’s execute the day-to-day details. Many of our clients don’t have the time, interest or inclination to get deeply involved with social media and so based on a proprietary process we’ve developed we do everything for them yet 100% of the content comes from THEM, not us. Clients love it. You can read more about it here: http://ow.ly/pSjU

Smallbizlady: What do you think is next for social media?

Lena West: What’s immediately next is more adoption and understanding — and WAY more women CEO’s releasing the fear and confusion energy surrounding social media, getting the expert help they need and stepping up to claim what was ALWAYS ours — word of mouth.

Smallbizlady: How should people approach social media?

Lena West: I place a HUGE amount of importance on personal responsibility. I believe that you should do what you say and mean what you say. I’m not perfect, but I strive for excellence. And, I believe that social media, by virtue of the medium, is making more people accountable. If you’re not who you say you are in this day and age, you’re in for it. I LOVE LOVE that!

If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter. 

How to participate in #SmallBizChat: http://bit.ly/S797e

For more tips on starting or growing your small business subscribe to Melinda Emerson’s blog at www.succeedasyourownboss.com

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Develop Webinars to Grow Your Business

By on September 17, 2009 in Branding & Marketing, SmallBizChat, Social Media

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat.  The show takes place every Wed on Twitter from 8-9pm ET.  This is excerpted from my recent interview with Roger Courville @1080group He is known as “The Virtual Presenter.” Roger is a sought-after speaker on how to improve productivity using live webinar presentations.  Roger’s company 1080 Group, LLC, is an independent training firm that helps companies learn and optimize online presentations and Webinars For more information log on to www.thevirtualpresenter.com Roger is author of The Virtual Presenter’s Handbook. Contact Roger at roger@1080group.com

SmallBizLady:   What is a webinar?

Roger Courville:  A webinar is a web-based seminar. It is a live presentation that brings presenters and audiences together from any place in the world.  Participants view the presentation via a web browser while listening to the presenter via a telephone conference call or over the computer speakers.  If your content can be shown on a computer, it is a good candidate for a webinar.

SmallBizLady:   What are webinars used for?

Roger Courville:  You can use a webinar for – lead generation, customer training, product demonstrations, etc.  The key is you must know what your call to action is and what questions to ask to help you build and advance a pipeline.

SmallBizLady:  How can a small biz owner use webinars to boost sales? 

Roger Courville Hosting a webinar is great for capturing data to building your list.  You can capture data via registration, polls, and surveys that help you avoid missing follow-up opportunities.  Combined with registration data or exit surveys, this can be powerful for building a business. 

Smallbizlady:  What are the top 5 mistakes people make with webinars?

Roger Courville Assuming people are paying attention.  A recent survey suggests 88% of attendees are multi-tasking.  Create an experience or become background noise.

Not using dialogue or asking for participation.  The presentation still might be mostly you speaking, but you wouldn’t stand in front of 20 people in-person and never ask or answer a question, would you?  Don’t wait until the end of webinar, either.  Don’t present at people.  Communicate with them.

Death by PowerPoint.  Webinars increase the importance of having visually engaging slides.  You need to engage visually or you’ll get tuned out.  The audience isn’t captive.

Poor voice quality.  I recently conducted a study on webinar presentation best practices, and out of seventeen success factors, audiences chose “quality of the speaker’s voice or delivery” second only to “user friendly webinar solution.”  Not everyone was born with a radio voice, but everyone can use what he/she has with passion and inflection.  Remember to enunciate, and remember that what sounds exaggerated to you doesn’t sound exaggerated to your audience.

No prep or rehearsal.  Most people over-estimate their ability to “wing it.”  You’re a professional businessperson, be a professional presenter.  And professionals rehearse.

Smallbizlady:  How can you get people to attend your webinar?

Roger Courville Present a topic of value, and people will attend.  More important, if it’s quite valuable to them, they’re more likely to engage.  Multi-tasking is high in webinars.  Shut off the sales-speak or they’ll ‘change the channel.’ 

Smallbizlady:  What is the best day and time for webinars?

Roger Courville The best day and time to host a webinar is the day and time your audience is most likely to attend.  If you were to schedule a meeting with them, what do you think would be the tme in their week they’d be most likely open? The most common days/times are Tuesdays, Wednesdays, and Thursdays between 9am and 2pm local time.  That said, I’ve seen fabulously-attended webinars at odd times or right before holidays. 

Smallbizlady:  How long should a webinar be? 

Roger Courville For most presentations, unless you’re utterly awesome, keep it to less than an hour.  Training webinars are the one exception, but even there, the trend is to “chunk” content and distribute them over time rather than try to tackle too much in one session. 

Smallbizlady:  How frequently should I interact with people during a webinar?

Roger Courville Think about how frequently you’d interact in-person and make it a point to do it more frequently online. You’ll never command 100% attention, but make it a point to learn how to connect with them naturally.

Smallbizlady: Should I make recordings of my webinars?

Roger Courville I think you should always make recordings.  They’re simple to make, and they’re great backup.  Offering the recordings can be a great tool to generate additional leads, and share with someone who wanted to attend the live webinar but couldn’t.  Be sure to think through what parts of your sales process need to be live via a webinar versus what can have impact as a recording.

Keep in mind, recordings can be an awful way to deliver mission-critical messages.  Recordings don’t engage like live dialogue, and if the content is important, consider whether or not it will be effectively consumed in a recording. 

Smallbizlady:  Can I charge for webinars?

Roger Courville Absolutely.  Just like you can charge for content that is valuable that is distributed in any other medium.  Even if your webinar is free ask yourself “What would they pay for?”  Plan content that someone finds valuable, and then if it’s free there is just that much more incentive for them to register and attend.

Smallbizlady:  Can a webinar be a direct sales pitch?

Roger Courville Yes – if you’ve promoted it honestly.  Clarity in the promotional and registration page content is key.  Don’t try to boost attendance by pitching one thing and then slipping in a sales pitch. 

Alternatively, if invitees know what they’re showing up for, a direct presentation of your product or service, a webinar can be a great way to connect with people – and gather valuable feedback to advance the sales process.

Smallbizlady:  What do webinar attendees hate the most?

Roger Courville Presenters who read slides or scripts.  I know when I’m in the audience and this happens, I always want to ask, “Why didn’t you just give me a document and save us both some time?”

Content that is not as advertised.  We spoke about this already, but let me put an exclamation point behind it:  trust is the new currency of trade.  Don’t risk your brand to get a few extra attendees.

Presenters that drift off-topic.  Remember that they’re giving up something more valuable than money – their time.  Respect that by delivering what you promised.

Smallbizlady:  Name some top webinar software solutions?

Roger Courville The top players are Webex, Adobe Connect,DimDim Citrix Online, MSFT LiveMeeting, but there are 200 players – many good ones.

My recommendation is to think “easy to use,” “capturing valuable data,” and “easy to make recordings” as you shop around for a service to use.

It’s important to think about what you want to accomplish.  Free is free for a reason:  don’t save 30 bucks on a webinar solution and waste hours doing extra production or missing valuable data that could help you close sales.

Smallbizlady:  What about video?

Roger Courville Video is a valuable tool when it’s the right tool for the job.  Much of the time, however, I find clients want to use video to compensate for bad slides or a slow-moving presentation.  Remember that any additional technological “ask” of your audience means you have that much more chance of an attendee having a poor experience.  I recommend using video only if it’s critical to what you need to show, but often it’s not. 

Smallbizlady:   Why should a business owner consider conducting webinars?

Presenting in a webinar changes the focus of your audience.  How you use your voice and how well you prepare your slides increases in importance.

I’ll never advocate replacing all face-to-face talks, but I do believe that any business owner who doesn’t expand their bag of tricks is missing out on new opportunities.

Smallbizlady:   How can you turn a teleseminar into a mini-webinar?

This will appear like an ad hoc presentation, but it’s really a sales tactic.   To turn a phone call into a webinar opportunity ask you audience “Can I show you something in the next eight minutes?” at the push of a button. It a great way to  shorten the sales cycle by making tomorrow’s appointment today’s presentation.

If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter. 

How to participate in #SmallBizChat: http://bit.ly/S797e

For more tips on starting or growing your small business subscribe to Melinda Emerson’s blog at www.succeedasyourownboss.com

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5 Ways to Shift from Tired to Inspired in Business

By on September 10, 2009 in Grow Your Business, SmallBizChat

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat.  The show takes place every Wed on Twitter from 8-9pm ET.  This is excerpted from my recent interview with Elizabeth Barbour @CoachElizabethB on Twitter.  Elizabeth’s company is The Inspired Entrepreneur. She is a small business coaching expert who serves as a catalyst for entrepreneurs to take inspired action and create extraordinary results in business and in life.  A professional coach for nine years, Elizabeth has worked with thousands of people to shift from tired to inspired in business and in life! Her four core values are community, celebration, spirituality and self-care.  Visit www.ElizabethBarbour.com for details!

SmallBizLady:  Why do entrepreneurs get so tired?

CoachElizabethB : We’re excited! We have big ideas! We multi-task all the time so we juggle a lot of balls in the air and often drop some. Often, we are solopreneurs so we are wearing many hats which gets overwhelming. In this economy, some people are struggling so there is a bit of fear that motivates us to do more than we normally would. That’s exhausting.

SmallBizLady: What are the warning signs that you are tired?

CoachElizabethB: LOL! So many. Some more obvious than others. Losing things. Forgetting Appointments. Always being late. Cloudy Thinking. Can’t fall asleep at night. We get overtired and then over stimulated and keep a to-do list by our beds! We stop taking care of ourselves – no exercise, poor food choices, no down time. Just go-go-go 24-7. Stress. Getting cranky or snippy. We call it “having the growlies” in our house! Watch out if someone has the growlies! J

SmallBizLady:  So how can we get inspired? I understand you have 5 Tips to Shift from Tired to Inspired. What’s the first tip?

CoachElizabethB: Tip #1 to Get Inspired: Practice Self Care. Like the financial gurus suggest – don’t spend all your money and then save what’s left over – start by paying yourself first! Decrease tolerations and things that drain your energy. Let go of habits and behaviors that don’t serve you or your biz. Do more of what you love to do. Go for a hike. Read. Swim. Nap. Dance. A 30 min break can really shift your energy in a positive way. Establish your connection to God, self and others. When you are plugged in spiritually, you live an inspired life. Louise Hay suggests using this sentence “I love myself therefore…”  if you said that several times a day, you’d always make good choices.

SmallBizLady:  What’s the 2nd tip to shift from Tired to Inspired?  

CoachElizabethB: Tip #2 to Get Inspired: Learn, Study, Grow! Read books. Take classes. Get a mentor. Go to workshops & conferences. Attend all the FREE events you can find. My top 3 Biz books: The E-Myth, Attracting Perfect Customers, One Page Business Plan. My top 3 Personal books: Sabbath – Wayne Muller, You Can Heal Your Life – Louise Hay, Ask and It Is Given – Abraham-Hicks

SmallBizLady:  What’s the 3rd tip to shift from Tired to Inspired?

CoachElizabethB:  Tip #3 to Get Inspired:  Build Intentional Community. Assess your current community – who feeds you? Who drains you? Who do you want to spend more time with? Who are you spending your time with? Successful people surround themselves with successful people. They mastermind. They go to workshops and personal development seminars. They hire the right people to work for them. Think about it – Tiger Woods – what does he do? He plays GOLF – that’s it! He does what he does best. And he surrounds himself with a community that supports him at being his best.

SmallBizLady:  What’s the 4th tip to shift from Tired to Inspired?

CoachElizabethB: Tip #4 to Get Inspired: Create Systems for Success. Look at every aspect of your life. Not just your biz! Assess Your Business: Is your desk organized? Are your computer files easy to navigate? What’s your communication like with your clients? Assess Your Home: is bill paying easy? Do you have a central scheduling place for meetings, vacations, etc. do you have a place to hang your KEYS when you walk in the door? Systems make life easier because there’s a plan that you don’t have to think about.

SmallBizLady:  What’s the 5th tip to shift from Tired to Inspired?

CoachElizabethB: Tip #5 to Get Inspired: Work ON your business, not just in it. This is what Michael Gerber teaches in the E-Myth. If you have not read it, you must! Working on your business means to embrace being an Entrepreneur with a Capital E! When you work IN the business, you’re serving clients and doing daily tasks. When you work ON the business, you’re Visioning, Goal Setting, Big Picture Thinking, Networking. That’s where the inspiration comes in!

 

SmallBizLady: These are great tips but what if I still need help?

 

CoachElizabethB: Get help and perspective: hire a coach, work with a mastermind group, talk to your dog, meditate or pray. It’s important to identify the areas you need help and then find the appropriate resource (person, book, website, etc) Also be sure to schedule doses of inspiration. Sounds silly. But if it’s not in your schedule, it’s not in your life.

SmallBizLady: What’s your advice for brand new entrepreneurs?

CoachElizabethB: Network, network, network! Build your community so that you feel supported and you have access to resources. Join groups in your community to get the word out and to not feel isolated. Get a mentor or hire a coach. Someone to guide you on your journey and help you stay focused. Remember what Calvin & Hobbes said? “It’s only work unless someone makes you do it!” If you’re an entrepreneur, you’ve chosen this. So have fun with it. Don’t create another J-O-B for yourself!

SmallBizLady: Who and what inspires you?

CoachElizabethB: My Favorite Spiritual Teachers: Sonia Choquette, Wayne Dyer, Caroline Myss, Jerry & Esther Hicks. My Favorite Business Gurus: Michel Gerber, Stephen Covery, Harv Eker, Walt Disney! J I get inspired by being in community, spending time in nature and having intellectual and spiritual conversations. Life is so much fun and I love to explore and learn constantly! Being a coach is the perfect fit for me.

If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter. 

How to participate in #SmallBizChat: http://bit.ly/S797e

For more tips on starting or growing your small business subscribe to Melinda Emerson’s blog at www.succeedasyourownboss.com

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How to Quit a Job to Start a Business

By on September 3, 2009 in Branding & Marketing, SmallBizChat, Starting A Small Business

Each week as Smallbizlady, I conduct interviews with small business experts on my weekly Twitter talk show #SmallBizChat. This is excerpted from my #SmallBizChat interview @SherriGarrity.  Sherri is the founder of Corporate Fugitive, a company that provides business and marketing coaching to aspiring entrepreneurs and business owners who want to go from overwhelmed to extraordinary.

In 2007, she walked away from a raise and a successful marketing career in the corporate world to start her own consulting business. During her transition she found that there wasn’t a lot of information and support out there specific to entrepreneurs coming out of a corporate environment – so she established Corporate Fugitive. She has lots of free articles and how-to information on her site at http://www.corporatefugitive.com

Smallbizlady: How did you become the corporate fugitive and what are the typical reasons people quit their jobs to start a business?

Sherri Garrity: Many people choose to leave careers behind because they want flexibility, or have reached a ceiling in their income and want to have more control over their futures. Other common reasons are a desire to leave a legacy and create something, to fulfill a dream or passion. People also start businesses because of a change in life circumstance like job loss, relocation, or post retirement. In my case I hit a wall energy and health-wise and decided that I wanted to be able to spend more time at home with my young child.

Smallbizlady: What is the number one mistake you see people making when they quit a job to start a business?

Sherri Garrity: The biggest mistake I see is when someone does not take the time to truly consider what they want from a business. As a small business owner there is little or no line between life and work, and so if you don’t take the time to really think about your income goals, the way you like to work, the kind of flexibility you want, etc. you can easily create a business that simply becomes a job in disguise.

Smallbizlady: What is the best case scenario for a start-up entrepreneur?

Sherri Garrity: When you can create a business that is uniquely suited to you, by taking the time to consider what’s best for you, who you’re ideally matched to serve, and you create the  business model that really fits you, it’s absolutely extraordinary and totally rewarding! This is the moment I strive for with business owners, is to see the light go on and their eyes widen when they realize the business is there for them to create exactly in the way that’s custom fit for them.

Smallbizlady: What are the things that someone can do first like maybe even before they quit their day job?

Sherri Garrity: It is best to do the research and test the waters while you’re still working. Think about what you want, research others who have businesses you like, and check out the market. Once you know what you want, it’s relatively easy to start a home-based business, especially with the online tools we have today. The other thing is I think what’s really valuable is to learn some basics about marketing and business and I’m not talking about being a master but you know, get some basic knowledge while you have the time to learn and your income is not dependent on it. Finally, build your network. Today with social media this is so much quicker than it used to be. Get out there and don’t worry about perfection, just take action.

Smallbizlady: What tips do you have for people who are still working for an employer while they’re developing their business?

Sherri Garrity: I think the number one is for first of all, keep it separate. You know, one of the biggest challenges, if you’re working while you’re starting a business, is what to tell people. Keep the worlds separate as much as possible and while you’re representing your employer, be the consummate professional and do your best job and absolutely do not market your independent services where you work. That’s a big no-no. It’s just not ethical and that’s not going to serve you if you try to market yourself at the same time. But if you’re out on your own time, attending an event or something, introduce yourself as the owner of your business, and do not mention that you’re also working for someone else. This makes you look disloyal to your employer and also not serious about your business. So keep it separate.

The second tip is to use the predictable income you have to invest in some of the tools you’ll need in your business.

Smallbizlady: Popular business advice is to save several months salary, or use someone else’s money to start your business. Do you have any advice in this area?

Sherri Garrity: Most of the 2500 or so new businesses that are started every day in Canada and the USA are started as sole proprietorships. Most are service based and also home based meaning most of us tend to transition from a job to working at home and usually on our own, providing services in our professional backgrounds. The first piece of advice I give to anyone contemplating making this leap is to go through the basics of what you want in a business, what you need to live on, what you’d ideally like vs what you have to make, and so on. Everyone has a different circumstance and this is also why I think that these kinds of generalized statements are unrealistic. As far as business loans go, it really depends on your type of business. Most of my clients are solo professionals who work from home providing a service and so wouldn’t require or likely qualify for a typical business loan.

Smallbizlady: What should someone expect when they quit?

Sherri Garrity:  The biggest fear people have is where they are going to get clients and how they’re going to get the money flowing. These are valid concerns, but luckily with some planning and forethought you can get things rolling pretty quickly, although you shouldn’t expect to be replacing your income right away. If you do your homework and keep marketing you’ll get the work and this will lead to more.

Smallbizlady:  Do you need to change your mindset to become an entrepreneur?

Sherri Garrity: I think the issue that no one really talks about that can be really difficult is the total mindset shift that is required. I joke about the “corporate detox” process but it really doesn’t feel that funny when you’re in the middle of it and no one told you what to expect. It can be completely exhilarating and completely terrifying at the same time. You lose your identity as an employee and all of its social stature and you enter the no man’s land of the not yet successful business owner. The other thing to remember is that you’re doing the unexpected and so many people who know you will think you’re crazy to walk away from the so called security of a corporate career. You need to develop a thick skin.

Smallbizlady: I have heard you say that business owners should CHOOSE their clients. Most think it’s the other way around. Can you explain that?

Sherri Garrity: Especially coming out of a traditional employee relationship we tend to think that our marketplace dictates our business and unfortunately many people who start businesses just take whatever work comes along. I advise that it is entirely possible to choose your clients and not only that, you SHOULD choose. You will actually make more money and enjoy your business more if you can tap into a specific unique talent that has huge value to the ideal client. Once you set up services that complement your skills and work preferences, this will make your marketing efforts more effective. You’ll be able to attract clients and connect with them in a way that will ensure they are the right fit for you. This is how you build a business instead of creating a job for yourself!

Smallbizlady: Many new business owners spread themselves really thin to take on work that maybe doesn’t fit them. They dream of getting a big client. You like to call this an anchor client. Can you talk about that?

Sherri Garrity: Many business owners are just so happy to get clients that they take whatever comes along. They think if they can land that one big secure, regular paying client that they’ll be set. This is sometimes called the anchor client. The problem with an anchor is that it is designed to weigh an object, in this case you, down! Be careful. Be clear to define your market and your ideal client. Be clear on your service offerings. It’s better to start out with less, but highly focused work than to spread yourself thin or to take clients on that don’t fit where you want to go. Also, if you are going to seek a big client, be sure you are not overly dependent on one or two for your survival.

 The biggest danger of an anchor client is that you become complacent and you stop marketing. Never stop marketing.

Smallbizlady: Many new business owners have a problem with cash flow. Can you give us advice on this?

Sherri Garrity: Cash flow is really critical. You can have high fees and lots of clients and be really strapped if you are waiting a long time to get paid. The best way to ensure consistent cash flow is to make sure you’re always marketing. The marketing actions you’re taking today are what turn into cash flow months down the road. Also structure your products and services in such a way that you’re getting predictable and regular payments. There are many ways to set your business up to encourage this.

Smallbizlady: How much time do you think should be spent on marketing and managing their business versus doing the actual work of their business?

Sherri Garrity:  I advise people they should be spending at least the equivalent of a day per week on this. In all businesses this is critical, but it’s even more so in new businesses that aren’t established yet. You can think of the business in two broad categories: marketing and operations. Marketing is the routine activities that keep you in front of your ideal client. For example, you should be spending your time developing new contacts, following up with current or past customers, attending networking events, and drawing clients in with activities like speaking, writing and so on. Think of this as part of your job as a business owner rather than a special project or something.

The other category is marketing operations. On a regular basis you must revisit your broader business and marketing plan. This means creating new services and products ahead of time, and rolling them out in a well thought out fashion.

If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter. 

How to participate in #SmallBizChat: http://bit.ly/S797e

For more tips on starting or growing your small business subscribe to Melinda Emerson’s blog at www.succeedasyourownboss.com

Comments { 9 }

How to Become a Family First Entrepreneur

By on August 27, 2009 in My Recommendations, SmallBizChat, Starting A Small Business

Each week as SmallBizLady, I conduct interviews with small business experts that could benefit my audience. This is excerpted from my #smallbizchat interview on Twitter with @MarcWarnke. He’s the author of  ONO, Options Not Obligations  Family First Enterpreneur.  Marc has had some incredible life experiences as a result of his entrepreneurial successes.  He was able to semi-retire for three years as his first son grew, but he is now back at it, with his first book.  Marc decided he wanted to teach others about entrepreneurism, and ONO is the result of that decision. For more info www.familyfirstentrepreneur.com

Smallbizlady:  What is ONO about?

Marc Warnke: ONO is the acronym for Options Not Obligations. It challenges readers to enrich their personal lives by rethinking their financial lives. ONO teaches a wealth creation lifestyle that focuses on making a difference first and creating profit second. 

Smallbizlady: Why did you write ONO?

Marc Warnke: Sharing my knowledge and teaching the concept of family first entrepreneurism is part of my self-defined higher purpose in life. I wanted everyone to have the opportunity I have of being able to spend less time in the pursuit of wealth and more time with the people they love.  

Smallbizlady: You call yourself a family first entrepreneur.  What does that mean?

Marc Warnke: A Family First Entrepreneur is simply someone with an entrepreneurial mindset who keeps his or her family first. Family First Entrepreneurs make business choices based on the potential impact they will have on their families first, and on business profitability second.

Smallbizlady:  What is the first step to creating options, not obligations?

Marc Warnke:  The first step is envisioning what you would want to be doing with your life if money had no bearing on your decisions. That is your higher purpose. Write your own eulogy. What would you want said about you at your funeral? (Hint: there would be no mention of your net worth) Create a financial plan through entrepreneurism that will allow you to accomplish your higher purpose. Begin with the end in mind.

Smallbizlady: Talk about a few other main points in your book.

Marc Warnke: ONO teaches readers how to preserve and create their number one asset, Time.  Kids spell love, T-I-M-E. We only have 936 weeks with our children in the home. Don’t sacrifice your time in pursuit of wealth. You don’t have to have a ton of money to have options. It breaks down to the simple principle of saving and investing.

Smallbizlady: Where should you start if you are interested in entrepreneurism?

Marc Warnke:  Find something that you enjoy doing and find a way to make money at it. Good transitions start with good decisions based on an intended outcome.  Evaluate your goals with the “Ready, Aim, Fire!” decision making process that I talk about extensively in my book. Don’t be afraid to ask for guidance. Find mentors, ask questions, never stop learning. Don’t reinvent the wheel. Find a system that is working and imitate it. Like I say in ONO, “Imitation, Not Innovation.”

Smallbizlady:  Is it harder to become an entrepreneur in this struggling economy?

Marc Warnke: Entrepreneurism is actually growing as a whole across America. People are seeing the need to take their financial future into their own hands. When people are struggling, their instinctual will to survive kicks in. For many, entrepreneurism has become the solution to their survival.

Smallbizlady:  How do I keep family first when I am crazy busy?

Marc Warnke: It takes work. Start by keeping certain parts of every day and week sacred with your family. I eat 3 meals a day with my wife and kids. I also shut off from my business, no matter what, from 5 to the kids’ bedtime. Weekends are family time as well. Time with your family will not only show the love that every child needs to see, it will also rejuvenate you as well.

Smallbizlady: You talk a lot about spirituality. Why do you feel that it is important in business?

Marc Warnke: A misunderstanding of what one is in control of leads to stagnation because it locks you into shame of the past or fear of the future. Clean and clear spirituality in your business life lends serenity to your family life. Spiritually in business allows for a clear sense that the only two things you can control are your choices and behaviors. Please be clear that I’m endorsing a spiritual life and have no agenda with your religious life.

Smallbizlady: Which is more important when building net worth, income or spending habits?

Marc Warnke: Spending. It’s not about how much you make, it’s about how much you save and invest. American families are threatened, not by an income problem, but by a spending problem. The key is to understand your needs vs wants and to have a powerful reason to stick to a spending strategy, like time with your family.

If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter. 

How to participate in #SmallBizChat: http://bit.ly/S797e

For more tips on starting or growing your small business subscribe to Melinda Emerson’s blog at www.succeedasyourownboss.com

Comments { 2 }

Healthcare Reform and Your Small Business

By on August 20, 2009 in Cash Flow & Finance, My Recommendations, SmallBizChat

Other than payroll, healthcare benefits represent the second or third largest cost center in any small business.  Subsequently, too many small business owners often cannot afford to provide health insurance coverage for their employees.  The current heath care debate presents an excellent opportunity to examine the pros and cons of the health care reform bill proposals.

Each week as Smallbizlady, I conduct interviews with small business experts on my weekly Twitter talk show #SmallBizChat.  This interview is excerpted from my #SmallBizChat interview with Dawn Rivers Baker, one of the nation’s most prominent experts on microbusiness.  Her activities on behalf of small businesses range from offering input on federal legislation to addressing audiences around the globe.  She has followed the healthcare reform debate very closely.

Smallbizlady:  What are the key features of the health care reform bill? 

Dawn Rivers Baker: First, there’s more than one health care reform bill. There’s one in the House and at least two in the Senate.  Common features include an individual mandate, tax credit for firms that offer coverage, “pay or play” provisions, and subsidies for poor folks. It also eliminates discrimination for pre-existing conditions, gender discrimination, and lifetime and yearly limits on coverage.

Smallbizlady:  Is the healthcare reform bill good for small businesses?

Dawn Rivers Baker: It’s a mixed bag, some good, some bad but much better than what we have now. There is a $1,000 tax credit per employee ($2,000 for family coverage) each year, more if an employer contributes more than 60% of the health insurance premium.

Smallbizlady:  Are their any down sides to the healthcare reform bill for small business owners?

Dawn Rivers Baker: There is a “Pay or Play” employer mandate that applies to firms with 10 or more employees.  There’s also still no allowable premium deduction as a business expense. This means that self-employed Schedule C filers will still pay FICA taxes on health insurance premiums.

Smallbizlady:  How will the health care reform bill affect small businesses who offer insurance benefits?

Dawn Rivers Baker:  The only impact will be that they will have more choices of plans and more tax credits for coverage.

Smallbizlady: I have seen some statistics that say small business owners on average pay 18% higher insurance premiums than large businesses.  A few years ago my firm’s healthcare premium was raised 62% with a month’s notice. Isn’t the health care insurance exchange designed to fix that?     

Dawn Rivers Baker:  The Health Care Insurance Exchange (HIE) can only be used by individuals (who don’t have acceptable coverage already) and (in two years) by employers with less than 20 employees.  So, the plans offered in the HIE will give individuals and small businesses the group-negotiating power of a larger employer. This will hopefully eliminate things like what you experienced.

Smallbizlady:  Will small business owners who do not offer health insurance before forced to do so?

Dawn Rivers Baker: You can’t FORCE them to provide health insurance. There will be a “pay or play” provision: cover your workers or pay into this kitty to help pay for premium subsidies.

Smallbizlady:  What about mental health benefits under the health care reform bills?

Dawn Rivers Baker: The House Bill, America’s Affordable Health Choices Act of 2009 H.R. 3200 requires covered services, including hospitalization, prescription drugs, mental health services, preventive services, maternity care, and children health care including dental, vision, and hearing services and equipment. It limits annual out-of-pocket expenses to $5,000 for an individual and $10,000 for a family.

Smallbizlady:  How are solopreneurs and 1099 freelancers covered under the bill? I believe it says if you don’t have coverage, you will have a 2.5% tax on   your adjusted gross income.

Dawn Rivers Baker: It is not clear. It depends on what happens with the public option and with the health insurance exchange.

Smallbizlady:  Will I get to keep my health insurance coverage, if I like it?

Dawn Rivers Baker: If you can afford to pay for it, yes.

Smallbizlady:  What if you are a business owner whose health insurance is covered by your spouse’s job, will you need to provide health insurance to employees?

Dawn Rivers Baker: Yes, if you have 10 or more employees. The “pay or play” employer mandate applies to firms with more than 10 employees.

Smallbizlady:  What should a business owner do who supports health care reform?

Dawn Rivers Baker: They should contact their elected representatives to express support. Use Congress.org to look them up if you don’t know who they are.

If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter. 

How to participate in #SmallBizChat: http://bit.ly/S797e

For more tips on starting or growing your small business subscribe to Melinda Emerson’s blog at www.succeedasyourownboss.com

Additional resources:

“Reality Check FAQs,” WhiteHouse.gov, accessed August 11, 2009. http://www.whitehouse.gov/realitycheck/faq#i1

The List on Health Care (Insurance) Reform Bill Nowpublic.com August 7, 2009
http://www.nowpublic.com/health/list-health-care-insurance-reform-bill

“What exactly is in the Healthcare Reform Bill” Smallbiztrends.com, July 18, 2009 http://smallbiztrends.com/2009/07/what-exactly-is-in-that-healthcare-reform-bill.html

“Why We Need a Public Health-Care Plan,” Wall Street Journal, June 24, 2009. http://online.wsj.com/article/SB124580516633344953.html

“5 freedoms you’d lose in health care reform” Fortune June 24, 2009 http://money.cnn.com/2009/07/24/news/economy/health_care_reform_obama.fortune/

“Healthcare Reform Fit For Small Business,” BusinessWeek Small Business May 6, 2009 http://www.businessweek.com/smallbiz/running_small_business/archives/2009/05/health_reform_f.html

Comments { 4 }

Managing a Crisis In Your Small Business

By on August 13, 2009 in Branding & Marketing, SmallBizChat

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat.  The show takes place every Wed on Twitter from 8-9pm ET.  This is excerpted from my recent interview with Jane Jordan-Meier @aussiechic on Twitter.  Jane is a famous import from Australia.  She has worked for many years in and around the media and consulted on crisis communication in the sports industry and with corporate clients.  She’s run two million dollar businesses, including her own PR firm.  She’s also working on an upcoming book on crisis media management. 

SmallBizLady:  What are the warning signs that you are in the midst of a business crisis?

Jane Jordan-Meier:  1) Sudden unexpected, unwanted media attention; sudden unexpected negative mentions on twitter, negative video on You Tube.  2) If a relatively flat-performing employee is enjoying unprecedented success.  They could be doing something illegal or against company policy.  3) A customer who used to complain a lot has suddenly stopped voicing their opinion so strongly. They are probably on-line being nasty.  4) Unfortunately many business crises go unnoticed, are deliberately avoided or pushed under the proverbial carpet – until something gets the nation and the business’s attention think United Airlines, smashed guitars and a You Tube hit

SmallBizLady:  Are there any special skills needed for effective crisis communication?

Jane Jordan-Meier:  You must be very calm under the intense pressure.  It’s best to show empathy – put yourself in your customers/employees/victims’ shoes.  Be authentic, genuine & transparent as opposed to evasive, defensive & negative.  Be humble & admit when you’re wrong.  Be tactical in your responses, never appear reactive.  To speak persuasively, speak in everyday language to command a high level of respect.

SmallBizLady:  What is a crisis communication plan and why does a small business need one?

Jane Jordan-Meier:  When the unexpected happens you need a plan for what to say, when to say it, how to say it, where to say it, why and who will communicate the critical messages. A crisis communication plan is designed to minimize damage to the business brand and basically shapes how the story is told.  Knowing what to say and having a plan for what to say and DO is far better than having to “make it up” in the heat of the moment.  Most businesses that go thru a crisis loose significant business. 40% never re-open, 25% fail within 2 years.

SmallBizLady:  What needs to be in a crisis communication plan?

Jane Jordan-Meier:  The #1 thing to have is an up to date contact list!  It sounds simple but so many businesses fail to keep theirs up to date.  The list should include the business owners, an identified spokesperson, key vendors, external advisers (e.g. legal, CPA, PR) key clients (top 5 list), one-page fact sheet on the company, the products (and logo) in camera-ready condition & available on a CD/DVD in generally-accepted word processor format.  You also need a pre-written frequently asked questions list that you have generated through your crisis scenario planning.

SmallBizLady: How long does it take to put a plan together? How do you get started?

Jane Jordan-Meier:  Start by imagining what could go wrong – the more bizarre the better.  Ask tough questions and involve your staff.  How would it look if our problems were on the front page of the Wall Street Journal?  Would we survive that test?  Practice scenario playing – get a facilitator or someone independent from outside the business to help you brainstorm.  You could do a plan in five minutes on the back of an envelope over a lunch if you ask the right questions! A good basic plan will take about 20-30 hrs.  Spend $1 on preparedness and save $9 on response.

SmallBizLady: What do you say in a crisis? What are the rules?

Jane Jordan-Meier:  There are 3 key questions that need to be answered in every crisis – what happened? How did this happen? What are you going to do to ensure it never happens again?  There are also some critical no-no’s in a crisis.  Release a statement within the first hour of something happens.  Telling angry or frightened people to calm down has the reverse effect.  Acknowledge the public’s concern and apologize for mistakes.

SmallBizLady:  Should you use the same tactics in managing a crisis online as you would with a typical business crisis?

Jane Jordan-Meier:  One of the big problems today is that a lot of people are treating every negative comment on-line as a crisis, when it’s not!  It’s a negative issue that needs to be managed.  The big difference today is speed – your reputation could be tarnished in hours if not seconds, so if it’s a REAL threat to your business ENGAGE & engage quickly.  Also it depends if the issue goes viral or is isolated to a couple of negative tweets.  The speed may have changed but the principles have not – act fast, tell it all and do it so with compassion, authenticity & transparency.

SmallBizLady: Can you list three steps to protect your reputation online?

Jane Jordan-Meier:  Most important asset to any business, small or large, is its employees so keep them engaged and informed.  Unhappy employees can turn rogue.  Be authentic, be engaged, and be prepared to share insights and tips.  Be a good corporate citizen.  Never spam.  Never attack, put dollars in the trust bank.  Set up listening posts to monitor your brand – check twitter 3 times a day and key blogs daily.

SmallBizLady: How do you manage the media in a crisis?

Jane Jordan-Meier:  Act fast; get a statement out within the first hour that says what happened & what steps you are taking to fix the problem.  Respect and meet media deadlines, and be available.  If not they will turn to someone else to fill the vacuum & that person is unlikely to have your best interests at heart.  Have a strong, simple, consistent message & run it through the cynic filter before you speak or do anything.  Give some background to the situation to put the incident into context, BUT only after you have expressed empathy & talked about the actions you have taken.  Never repeat the negative of the question – state what you are doing in positive, use active language. Hire a PR person to assist with media training.

SmallBizLady:  Who should be a spokesperson in a crisis?

Jane Jordan-Meier: It depends on the type and scale of the crisis, and whether your business has a significant profile in your industry or town.  Go with a spokesperson that is well-spoken. If the CEO does badly, where do you go from there? The spokesperson must have credibility, must be believable, must look and sound trustworthy to be acceptable to your key audiences. The spokesperson must be able to handle the anxiety of standing before reporters and cameras.  If you run a franchise, then you as the franchise owner may have more credibility in the local area then the President of the franchise corporation.

 If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter. 

How to participate in #SmallBizChat: http://bit.ly/S797e

For more tips on starting or growing your small business subscribe to Melinda Emerson’s blog at www.succeedasyourownboss.com

Comments { 2 }

How to Start a Business In This Economy

By on August 6, 2009 in How to Start, SmallBizChat, Social Media

From time to time as SmallBizLady, I conduct interviews with experts that could benefit my audience. This is excerpts from my #SmallBizChat interview on Twitter with Mike Michalowicz aka Toilet Paper Entrepreneur @TPEntrepreneur. Mike Michalowicz has a driving passion for entrepreneurialism. Michalowicz wrote The Toilet Paper Entrepreneur with the sole purpose of giving first time entrepreneurs the information they need to grow their concepts into industry leaders.  Michalowicz has successfully launched three multimillion-dollar companies.  His most recent venture, Obsidian Launch LLC, partners exclusively with first-time entrepreneurs, to launch their ideas into niche industry leaders.

Smallbizlady: Why is this a great time to start a business?

Mike Michalowicz: When the economy slows down, two things happen.  Established businesses that are weak close up, and new businesses that were going to start get put on hold.  In this economy there is way less competition.  If you start now it will be hard (just like it is in a great economy), but you will have the advantage as the economy recovers since you will have momentum going in when others are just starting.

Smallbizlady: What is the first thing someone who wants to start a business needs to consider?

Mike Michalowicz: You MUST consider what you love to do. Your passion.  Since if you do your passion, you will likely stick with it during the lean years, and you will naturally excel at it because it is your passion.

Smallbizlady: Where is the funding coming from to start a business right now?

Mike Michalowicz: Funding is coming out of the entrepreneurs own pocket.  Even hedge funds are starting to push more and more entrepreneurs to practically go on welfare before the fund adds any money.  The great irony is that if you use only your own money, you typically will do better since it forces better decision making and more out of the box thinking.

Smallbizlady: Are there certain industries that make more sense to pursue as a business in this economy?

Mike Michalowicz: Self help always booms in a down economy.  Any business that helps others become more self-reliant is a good thing.  Another great sector is “micro-luxuries”… these replace the big ticket luxuries like vacations and the new car.  A perfect example of a booming micro luxury is alcohol.  Instead of going on vacation, people take many “mini-vacations” with a bottle of wine!

Smallbizlady: Do you need a business plan to start a business?

Mike Michalowicz: No. In fact they often are big dust collectors. To start and BUILD a business you need a dynamic planning strategy. Something that adjusts with all the craziness that goes on.  The best dynamic planning strategy is the 3-sheet method (which I detail in The Toilet Paper Entrepreneur fully).

Smallbizlady: How do you develop a Unique Selling Position or secret sauce as I like to say?

Mike Michalowicz: The fastest way is by asking “what sucks about my industry?”  When you discover the stuff that sucks, your job is to make it “un-suck”.  That becomes a very unique selling position, and customers will flock to you.

Smallbizlady: Is it best to start an internet business right now?

Mike Michalowicz: I would argue every business is an internet business.  Since we all have a presence on line, and if you don’t you are being left behind.  So, hell yes, it is good to have an internet business right now… but it must compliment your passion.

Smallbizlady: Where should you look for your first clients?

Mike Michalowicz: That is a hard one, since every business is different. But the general answer is to go where they already are.  For example if you sell to baseball fans, don’t go to the local chamber of commerce… go to the ball park.

Smallbizlady: Can you give three low-cost marketing suggestions for start-up businesses?

Mike Michalowicz: Blogging is amazingly powerful and effective marketing. The key is sticking with it.  Another is speaking engagements.  If you do it well, you get paid to speak to a group and at the end they are will want to buy from you, too.  Collaboration.  Find complimentary vendors and make partnering deals. They may have the audience and you have the goods. Can be a win all around.

Smallbizlady: Can you list a few resources that a first time entrepreneur should read before starting a business?

Mike Michalowicz: Definitely read The Toilet Paper Entrepreneur, and I am not just saying that.  Also read E-myth to get you in the right mindset to scale the business and read Purple Cow to get to the marketing mindset.

Smallbizlady: How important is social media to a start-up business?

Mike Michalowicz: It is a powerful tool, but it isn’t critical. What is critical is consistently getting the word out.  If you only did it through face to face networking, that is in fact ok…. you just need to do a lot of it and build strong relationships.  If you just do social networking, make no mistake, you need to do just as much, if not MORE than face to face networking, but you can reach out to a lot more people a lot faster.

Smallbizlady: Can you give suggestions for maintaining work/life balance as an entrepreneur?

Mike Michalowicz:   There is no such thing.  Being an entrepreneur is your life.  And it is impossible to separate the two. So instead of trying to bring balance, I encourage you to blend them. I have my family come to my office, my children will work here at times and my wife too.  When it is slow at work, I will head home right away…. Because when work needs me I will head there right away!

If you found this interview helpful, join me on Wednesdays 8-9pm ET for @SmallBizChat on Twitter.  Here’s the link for how to participate: http://succeedasyourownboss.com/07/2009/how-to-participate-in-smallbizchat/

 For more tips on starting or growing your small business subscribe to Melinda Emerson’s blog at http://www.succeedasyourownboss.com

Comments { 2 }

How to Attract Clients as a Speaker

By on July 30, 2009 in Branding & Marketing, SmallBizChat

From time to time as SmallBizLady, I conduct interviews with experts that could benefit my audience. This is excerpts from my #smallbizchat interview on Twitter with professional speaker Marquesa Pettway @speakertalk. Marquesa speaks in approximately 10 cities or states per month elevating and transforming audiences. Marquesa is a leader in Toastmasters, Iota Phi Lambda, and the National Speaker Association which gives her opportunities to help other speakers.  If you are interested in building a career as a professional speaking her coaching website is www.NationalCenterSpeakerTraining.com.  She also hosts a popular radio show http://www.blogtalkradio.com/speakertalk.  I even worked with Marquesa years ago when I first started speaking professionally.  She is an excellent resource.

SmallBizLady:  Why is public speaking a great way to attract clients?

Marquesa Pettway: Public speaking allows you to reach a lot of potential clients at one time and build instant rapport.

SmallBizLady:  What are the key attributes for being a successful speaker?

Marquesa Pettway: Understanding storytelling, if you can learn to be persuasive and be authentic, the audience will love you

SmallBizLady: What is the speaker platform?

Marquesa Pettway: The speaker platform is any opportunity you have to speak publicly about your expertise.  If you have a speaking platform you are adding professional speaking to your business model. You are marketing yourself as a paid speaker.

SmallBizLady:  Do I need to have a specific expertise to be successful speaker?

Marquesa Pettway: It’s important to be perceived as an n expert for the topic you choose to speak on, people buy from experts. Know everything you can about your expertise.

SmallBizLady:  If speaking terrifies me, what should I do?

Marquesa Pettway: practice, practice, practice, start with toastmasters for support

SmallBizLady:  Is it important to practice before attempting to do a presentation?

Marquesa Pettway: Absolutely you need to practice.  Speaking is a real skill.  You need to practice speaking in clear thoughts that people can grasp.  Toastmasters is a great resource and doing free speeches is another good way to practice.

SmallBizLady:  How often should I speak and should I charge?

Marquesa Pettway: Speak as often as you like, the more you speak, the better you become, the more you can charge.

SmallBizLady: What if I’m not getting paid, is it worth it?

Marquesa Pettway: Yes, you can get paid in other ways, quality recordings that can be used as demos, introductions to decision makers, back of the room sales, consulting and coaching opportunities, etc.

SmallBizLady:  Is it ok to sell products or services from the platform? If so, how?

Marquesa Pettway: Yes, keep it short and make your sales pitch very simple, but remember you must deliver tons of value for free and do not oversell, it will turn the audience off.  Make an irresistible offer that is only good for that presentation; sense of urgency and make it easy for audience participants to sign up.

SmallBizLady:  Are there any systems I need to set up for success as a speaker?

Marquesa Pettway: Yes, a one page sign up form.  A one page form for evaluation and referrals in one. Offer a prize to get the email address of all audience participants. Have help and keep it moving.

SmallBizLady: What are the basic marketing materials I need to get speaking engagements?

Marquesa Pettway: To book speaking engagements you need to prepare a speaker one sheet, your signature speaking topics, a basic website, and have a positive attitude. Use this link as a guide http://TwitPWR.com/mN4/

SmallBizLady:  How do I prepare for questions that my audience may throw at me?

Marquesa Pettway: Anticipate the questions in advance by preparing at least 10 questions.

SmallBizLady: How do I follow up once I speak?

Marquesa Pettway: Contact people from the evaluation/referral forms

If you found this interview helpful, join me on Wednesdays 8-9pm ET for @SmallBizChat on Twitter.  For more tips on starting or growing your small business subscribe to Melinda Emerson’s blog at http://www.succeedasyourownboss.com

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Podcasting for Your Small Business

By on July 23, 2009 in Branding & Marketing, SmallBizChat, Social Media

From time to time as SmallBizLady, I conduct interviews with small business experts that could benefit my audience. This is excerpts from my #smallbizchat interview on Twitter with @podcaststeve.

Steven L. Lubetkin, operates Professional Podcasts LLC, an award-winning producer of radio, TV and other multimedia content distributed over the Internet as podcasts. Steve is a Senior Fellow of the Society for New Communications Research, a global think tank for advanced study of new communications tools, technologies and emerging modes of communication, and their effect on traditional media, professional communications, business, culture and society.  He contributes to AllVoices.com and NowPublic.com.

Steve published an article on podcasting in Bank Marketing Magazine. The download is available at http://www.lubetkin.net/docs/ABABankMktg-Podcasting.pdf

Smallbizlady: What is a podcast?

Steve Lubetkin:  A podcast is just an audio file distributed via the internet. People can download to mp3 players or onto a CD and play in car, while working out etc.

Smallbizlady: Why should small businesses do podcasts?

Steve Lubetkin: No one under 35 reads newspapers or looks at ads. You need to be high up in Google search. Podcasts help a lot!

Smallbizlady:  Is it expensive to produce podcasts?

Steve Lubetkin: No. You can do it yourself, although it should sound professional. All you need digital audio recorder and a computer. There’s good free software to edit.

Smallbizlady: What recording devices do you suggest?

Steve Lubetkin:  Check out BSWAudio www.bswusa.com for recorders. Olympus makes several under $150

Smallbizlady: What free software programs should you use to create and edit podcasts?

Steve Lubetkin: A good free recording/editing software is Audicity.  It is available for Mac and PC. Garageband is another MAC option. If you do not have a recording device, use can Skype to record an interview over the free internet phone service using the software Pamela (a free software program) on your computer.

Smallbizlady: Shouldn’t it sound like I’m not a professional?

Steve Lubetkin: Absolutely NOT! See top 100 podcasts in iTunes. They are mostly professionally produced. People prefer good quality pods. Don’t scrimp.

Smallbizlady: What should podcast include?

Steve Lubetkin: Don’t do a commercial. Be real, talk about your expertise in interview format, try not lecture! Small businesses should use to show they are experts and have solutions for clients. Anything you could hear on radio or see on TV you can do in a podcast. It’s your own radio or TV station. Be creative!

Smallbizlady: What are good resources for learning how to produce podcasts?

Steve Lubetkin: Tod Maffin’s book, http://todmaffin.com/book; NPR book Sound Reporting, http://bit.ly/9lFlW – as for free resources, try About.com has podcasting pages, Blubrry.com & libsyn.com have how-to features.

Smallbizlady: Can you list some free sources where I can host my podcast?

Steve Lubetkin: I suggest libsyn.com, podbean.com, blubrry.com they are all good podcast hosting platforms with RSS and other cool tools.

Smallbizlady: What about the fee-based podcasting services?

Steve Lubetkin: Powweb or Globat are low cost options and they work well with WordPress.

Smallbizlady: How does Google find my podcast?

Steve Lubetkin: RSS feed is important, consider feedburner.google.com. Learn about text metatags, embed in podcast mp3 files.  Metatags are text fields you fill out using your recording program or a tag editor program. artist, title, genre, keywords, etc.

Smallbizlady: How do I get my podcasts listed on iTunes?

Steve Lubetkin: An iTunes supported RSS Feed will automatically be generated for you by your hosting service such as Podbean. You need to Set iTunes options. Podbean provides an easy-to-use iTunes setting preview page. You can easily change all iTunes related options in this single page by clicking on ‘Settings’ in the main menu, then selecting ‘iTunes/Advanced.’ Once you set these options up, they submit your podcast to iTunes and it shows up in the store.  For additional info on iTunes check out podcast specs at http://is.gd/1Fonk

Smallbizlady: Shouldn’t it sound like I’m not a professional?

Steve Lubetkin: Absolutely NOT! See top 100 podcasts in iTunes. They are mostly professionally produced. People prefer good quality pods. Don’t scrimp.

For more tips on starting or growing your small business subscribe to Melinda Emerson’s blog at http://www.succeedasyourownboss.com

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Niche to Get Rich

By on July 21, 2009 in Branding & Marketing, SmallBizChat

From time to time as SmallBizLady, I conduct interviews with small business experts that could benefit my audience. This is excerpts from my #smallbizchat interview on Twitter with  Isabella Murphy @nichelady.  She’s a Product Creation Specialist, Niche Marketer – CEO of Staying Paid.com – making payday come everyday through strategy, not chance!  She is a professional writer, and blogs for pleasure and profit. The Nichelady is generally known on the Internet for such concepts as “staying paid around the clock” and “leverage.”  She can be reached at nichelady@gmail.com

SmallBizLady: What is @smallbizchat?

Isabella Murphy: The perfect way to approach a niche audience – get connected & stay connected, share real-time experiences

SmallBizLady: Thank you Isa, I appreciate that you think so highly of what we try to do on #smallbizchat.

SmallBizLady: Lets get started. What is a niche?

Isabella Murphy: A niche is small enough to both highlight & appreciate your focus on them, but large enough to create products & services 4

SmallBizLady: What are the benefits of niche marketing?

Isabella Murphy: The benefits of niche marketing – lower advertising costs compared to “untargeted” ad campaigns (read: anyone who does X) Another benefit is ease of entry – smaller group, easier to leverage passion & systematic product/content creation for sales.

SmallBizLady: What is a niche mentality?

Isabella Murphy: A niche mentality is when a small business owner knows up front that they want to be a specialist in their industry focusing on a specific audience of customers.

SmallBizLady: What is the difference between a fad and a niche?

Isabella Murphy: Seasonal niches or fads are fine as a business model if you go into it fully understanding that it’s a fad which represents a short term revenue opportunity.  It’s not a long-term business strategy – Good for leading in with limited time offers. Fads fade giving rise to other, related products to sell. Niches are strategic marketing positions in tan industry. You want a very specific customer.

SmallBizLady: How should a business owner find their niche?

Isabella Murphy: Take a realistic inventory of what you like to do what your friends/assoc/family are passionate about and/or annoyed about.  You find your niche often by seeing what people are either stark raving mad about or passionate about. I do a lot of trend watching.  I’m on trendwatching.com’s list. I also read the newsstand headlines & newspapers

SmallBizLady: How do you make sure your niche is viable?

Isabella Murphy: You need to be careful, with too specific a niche you run out of room to grow, with too broad of a “niche” and you don’t have enough time to really penetrate the market before you run out of financial resources.

SmallBizLady: What are the downsides of having too specific a niche?

Isabella Murphy: Not enough profitability – forced to leave the niche due to lack of sales – customers may only see you as a provider of that particular niche solution and may reject your attempts to eventually expand.

SmallBizLady:  Give 3 tips for evaluating a niche?

Isabella Murphy: 1) Can you spot their three biggest problems? 2) Can you solve their problems profitably? 3) Can you generate a specific customer profile

SmallBizLady: How important is it to niche as an online business?

Isabella Murphy: Very important! Ease of entry and lower resources make niche marketing one of the most level playing fields around, especially online.

If you enjoyed this Q&A interview, follow @smallbizchat on Twitter and please join us on each Wednesday for #SmallBizChat 8-9pm ET.

For more tips on starting or growing your small business subscribe to Melinda Emerson’s blog at http://www.succeedasyourownboss.com

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How to Participate in #Smallbizchat

By on July 21, 2009 in SmallBizChat, Social Media

What is #SmallBizChat? It is a weekly interactive talk show on Twitter for small business owners. It takes place every Wednesday from 8-9 pm eastern time. Participants and guests type answers to questions from the host, using the social media site Twitter. The focus of #SmallBizChat is to help business owners succeed as their own boss as they start and grow their small businesses.

For info on the upcoming Week’s chat and a link to the current Tweetgrid (see below for explanation), follow @SmallBizChat on Twitter.

Getting Started on Twitter

First, you need a Twitter account.  For details on Getting started on Twitter click this link http://succeedasyourownboss.com/06/2009/getting-started-on-twitter/

It’s a good idea to follow our Twitter account @SmallBizChat. Each week, we post a series of tweets about our guest and the topic for the week.

Terms you need know before we get started

  • Hashtag- The # symbol in front of any word creates a hashtag.   #SmallBizChat is a hashtag. Hashtags are used on Twitter to track information on a specific topic. Click it, and it will take you to the most recent conversation on that topic. In Twitter, you can put a #hashtag in the search box, and see what folks are saying about that tag at that moment too.
  • Tweetchat- is a Twitter talk show, using text messages on Twitter to interact with a weekly guest on a specific topic – using a #hashtag to help my people follow the same conversation.
  • Tweetgrid.com -a third party website tweetgrid.com which allows you to participate in a live tweetchat using three columns
  • Tweetchat.com- a third party website tweetchat.com which allows you to participate in a live tweetchat using one column

There are many options to participate in our live chat:

Using Tweetgrid for our Chat:

On Wednesdays, we put out a custom link to Tweetgrid.com making the chat easier to follow. Consider following our Twitter account @SmallBizChat for details on upcoming chats and links to each week’s TweetGrid.

By using the link, This mode automatically puts the #SmallBizChat hashtag on each tweet sent out in the chat. It allows other participants in the chat to see your comment as well.

Click this link for example of tweetgrid http://is.gd/1yu6j the far right column is where you can see anyone’s comments in the chat.  The center column shows this week’s guest and the host comments. You can use the far column for you own twitter account just put @ your twitter name and hit search.

You’ll notice above you username is a #hashtag box, which should say #SmallBizChat – if it doesn’t, please add it there, so that it adds that tag to each tweet you send.

In the center at the top of the page, you will see a box labeled Tweet, and below it one that says user:    and pass:      Fill out the lower two boxes with your username (without the @ symbol) and password. Putting your password into any program can be a risk, but this program has a good reputation.

To reply to a tweet, hover over it, and hit the left-facing blue arrow, type your information and then hit reply. To RT or retweet something, also hover over the tweet and click the right-facing blue arrow. Tweetgrid will RT something even if it is too long, but if you want to add anything to the comment, you may need to edit the tweet for space.

Things may move pretty fast, so to control the flow of tweets, hit the stop so that you can scroll down, just remember to hit the search to rejoin the active chat.  If you forget you’ll wonder why you are not seeing any new tweets.

Near the end of the chat: In the last five minutes of the chat, the host sends out a tweet allowing people to introduce them selves, or to give a 140 character commercial, so be ready to plug your business.

The host also tweets out info on next week’s guest and topic.

After the chat: Follow the people who you found interesting, continue the conversation if warranted.

Follow @SmallBizChat. Our Virtual Assistant @YourJobMyOffice creates a transcript each week, which is usually sent out via @SmallBizChat later that evening, and the next day.

Just a Note about Chats and Twitter Troubles: Sometime Twitter’s search function is running slow, either due to the volume of people using the service, or maintenance issues. Sometimes it can take a full minute or two for a tweet you sent to show, if this is the case, we persevere. If the slowdown is long, we may try switching to a different service, such as savorchat.com or we may cancel or postpone the chat. If this is the case, be sure to watch the tweets of our host @SmallBizLady, co-host @CathyWebSavvyPR, @SmallBizChat and our virtual assistant @YourJobMyOffice for tips on what we are doing.

For more information about various chats on twitter, and how people use them, check out these links:

http://www.twitip.com/tweeting-with-your-twitter-community-how-to-participate-in-a-twitter-chat/

http://www.meryl.net/2009/05/06/list-of-twitter-chats/

http://www.meryl.net/2009/05/05/how-to-join-twitter-chats/

Info on hashtags and how they work: hashtag info/explanation" href="http://twitter.pbworks.com/Hashtags" target="_blank">http://twitter.pbworks.com/Hashtags

Look up a #hastag to find info on “what the hashtag:” hashtag " href="http://wthashtag.com/Main_Page" target="_blank">http://wthashtag.com/Main_Page

We hope this explainer page will help you join #smallbizchat each Wednesday on Twitter.  Our goal is to help you succeed as your own boss as you start and grow your small business.

Good Luck!

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Creating Signature Customer Service in Your Small Business

By on July 16, 2009 in Grow Your Business, SmallBizChat

From time to time as SmallBizLady, I conduct interviews with small business experts that could benefit my audience. This is excerpts from my #smallbizchat interview on Twitter with Glory Borgeson @GloryBorgeson about creating signature customer service in your small business. GloryBorgeson is a business coach, speaker and author of the book “Catapult Your Business to New Heights.” http://tinyurl.com/m2rzho

SmallBizLady: Why is customer service such an important part of an entrepreneur’s business?

Borgeson: Customer service is your own built-in marketing machine. When you provide great service for your customers, they remember it, and you get known for it. Also, you get liked for it. People do business with people they like.

SmallBizLady: In your book, you write about “Wow!” customer service. What is that?

Borgeson: “Wow!” customer service is anything you do that makes your customers say, “Wow!” in response. (And that is a really good thing!)

SmallBizLady: What does a business get back in return when they give “Wow!” treatment to their customers?

Borgeson: When you do something for customers that makes them say, “Wow!”, you will get a loyal customer who continues to buy from you, sticks with you in tough economic times, and sends you referrals.

SmallBizLady: If a business delivers bad customer service what can happen?

Borgeson: If you only meet your customer’s expectations, there is nothing in particular that keeps them loyal to you and your business. The fact that you meet expectations and don’t tick them off is actually a good thing. But what if your competitor comes along and offers them better customer service after they buy? Since your customer isn’t loyal to you (because you’ve done nothing to gain that loyalty), he or she will probably switch to your competitor.

SmallBizLady: What is an example of what you call “Ow!” customer service?

Borgeson: I have all kinds of experiences with this personally. My previous bank made errors, charged me for their errors, made me do the work to prove it was their error, and then didn’t apologize. Can you say, “Ow!”?  I switched banks.  ”Be easy to do business with!” Don’t make your customers work so hard to do business with you.

SmallBizLady: What are some examples of “Wow!” customer service?

Borgeson: Any business whose front-line customer service people are competently trained and have authority to make things happen can provide “Wow!” service. (What? You really know what you’re talking about and you don’t have to pass my call around to various managers to fix my problem? Wow!)

Zappos is a good example of a business that provides “Wow!” customer service for their customers. Their website is easy to use. They have free shipping both ways (when shipping to the customer and when the customer sends a return). Returns are really easy – you go to your order online, click the items you’re returning, print a UPS (or USPS) shipping label; and then you drop the whole box off at a UPS store. (The hardest thing you have to do is tape the box – and that’s easy, too.)  After they receive the return (which they’re expecting), they send an e-mail confirming the amount of the credit hitting your card. Basically, Zappos has taken the pain out of shopping online or via catalog (which I don’t do often because the returns are a hassle).  Also, when you call them on the phone, you get a highly-trained employee on the phone who has the knowledge and authority to help you.

Here are a few more examples:

The dentist’s office that gives each patient a hot washcloth after treatment.

The auto mechanic’s waiting room that provides fresh coffee, TVs, computers with Internet access, and cleanliness.

The computer software company that takes my call and helps me solve a problem, without expecting me to pay them more money.

Basically, all of these examples give their customers an experience that is “above & beyond” what the customers expect – and these actions make their customers say “Wow!”  (These actions are also in contrast to what most businesses provide.)

SmallBizLady: How can a business owner begin to build customer services experiences for their customers?

Borgeson: The best way to start is with brainstorming.

  • Make a list of all kinds of businesses you do business with (as a consumer and as a business owner).
  • On one page, list all kinds of actions those businesses have taken that have made you say “Wow!” in the last 5 years.
  • On a second page, list the bad experiences you’ve had with businesses as a customer.
  • Next, list out your competitors.  List the things they do to “Wow!” their customers, and the things they do that tick off their customers.

Now, list out ideas that you can use to “Wow!” your customers. Some of these things will be planned, and others will come up for you to deal with at the spur of the moment. Some things you list will not cost you anything, some will cost a little time and a little money, others will cost more time and money.

SmallBizLady: Once I have my list of customer service ideas, how do I prioritize it?

Borgeson: For the most part, you will want to prioritize your “Wow!” list, starting with the things that are easy, quick, and inexpensive to implement, and ending the list with the things that will take more time and money to plan.  Make a plan for how you can implement quick and easy changes in the next month or two. Then go through the rest of the list and put a timeline on each item. For the actions that will cost money, research what it will cost and plug that into the list.

For more tips on starting or growing your small business subscribe to Melinda Emerson’s blog at http://www.succeedasyourownboss.com

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