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How to Be a Successful Woman Business Owner

By on March 3, 2011 in SmallBizChat, Women in Business

small biz chat with melinda emersonEach week as Smallbizlady, I conduct interviews with small business experts on my weekly Twitter talk show #SmallBizChat. This is excerpted from my #SmallBizChat interview with Tory Johnson @ToryJohnson Tory is an award-winning business leader, national network television contributor, popular speaker and bestselling author devoted to career success.  She also the founder of the Spark and Hustle National Conference for Current & Aspiring Small Business Owners www.sparkandhustle.com.

Smallbizlady:   What are some advantages of being a woman in business?

Tory Johnson We can make something from nothing — we do it all the time for dinners, we make up activities for our kids, we’re super resourceful and we’re focused on getting things done.

Smallbizlady:    What are some common obstacles women business owners face in start-up phase?

Tory Johnson Lack of funding and a discomfort with sales.  Two huge challenges.

Smallbizlady:   Do you think some women sabotage themselves as business owners?

Tory Johnson Yes, definitely, mainly with self-doubt — assuming they’re not good enough or that they don’t deserve the success.

Smallbizlady:   What kinds of team do you have within your business and how important is it to have a team?

Tory Johnson I started on my own and as you grow, it’s essential to have the right people around you.  It’s difficult to grow when you stay the same size.  My staff is focused on sales and marketing — it’s what we do every day.

Smallbizlady:   Have you used business coaches and/or a board of advisors to help you grow your business ventures?

Tory Johnson: Informally, yes, all the time.  I don’t have one go-to guru. I go to lots of different people depending on the need at any one time.

Smallbizlady:   How did you become GMA’s career expert? What advice would you give other thought leaders with national media aspirations?

Tory Johnson I pitched really great segment ideas — fresh, new, trend-worthy topics. I wasn’t peddling the same old. I had tons of previous local TV experience.  I was—and still am—willing to hustle to produce the best segments. Make sure you’re media ready.  Make sure your ideas serve the audience, not your business.  Make sure you watch/follow the outlets you’re pitching.

Smallbizlady:   Is it a good business model to develop a business targeting women customers?

Tory Johnson Sure, but more importantly, you want to narrow your niche. ALL WOMEN is too big.  Focus more specifically on who exactly you serve.

Smallbizlady:   Many women juggle family responsibilities and running their businesses, do you have any advice on have to manage?

Tory Johnson Say no to what’s not important, get your family involved in your business, it’s ok if the dishes sit in the sink an extra hour.

Smallbizlady:    How often do you think women business owners should reinvent their businesses?

Tory Johnson As often as the market demands.  Don’t fix what aint broke, but listen to your audience.  My business grows only when I pay attention to what my followers want.

Smallbizlady:    How should a woman business owners pursue a mentor?

Tory Johnson Don’t ask: WILL YOU BE MY MENTOR? Develop a natural relationship. You can’t push this. Join organizations that are aligned with your industry and interests and get involved.

Smallbizlady:    You recent added business coach to your national brand, launching the Spark and hustle national tour for current & aspiring small business owners. What are you trying to accomplish with this new effort?

Tory Johnson Quite simply, help women launch and grow their small business dreams.  I’m successful at serving employees, now we’re doing it for entrepreneurs.

Smallbizlady: What is the best advice you ever received in business?

Tory Johnson Don’t rely on anyone else—it will always come down to you and what you’re willing to do.  Nobody will do it for you.

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

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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Smallbizlady Help! I Need A Business Mentor

By 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 Become Your Own Boss in 12 Months Books By Melinda Emersonbusiness 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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Are You Right for SmallBizLady’s Reality Show?

By on February 9, 2011 in Business Inspiration, Women in Business, Your Small Business

Melinda Emerson “SmallBizLady” is looking for struggling small businesses in the PA/NJ/DE tri-state area who are interested in being featured on her reality show pilot.

  • Must be in business at least 3 years
  • At least $250K in revenue and no more than $3MM in revenue
  • Having employees is a real plus
  • Business owner must be willing to tell their hard luck story
  • Selected companies will be eligible for 25K in resources to help their businesses thrive

For consideration, please record a 60 – :90 second video explaining your business and your biggest challenge. PLEASE NOTE: Your submission video must end with you and your team shouting “Smallbizlady S.O.S. – Save Our Small Business!”

Post your video to Youtube.com and submit your pitch with video link to publicity@melindaemerson.com by Feb 15, 2011 at 5 PM ET

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How to Have Balance in Your Life as a Small Business Owner

By on January 6, 2011 in Business Inspiration, Mompreneurs, My Recommendations, SmallBizChat, Social Media, Women in Business, Your Small Business

Tune in to Smallbizchat with Smallbizlady on TwitterEach week as Smallbizlady, I conduct interviews with small business experts on my weekly Twitter talk show #SmallBizChat. This is excerpted from my #SmallBizChat interview with Debi Silber @themojocoach.  Debi is a Registered Dietitian with a Master’s in Nutrition, a Personal Trainer, Whole Health Coach, author, speaker and founder of www.TheMojoCoach.com . Debi’s branded The Mojo Coach® because she’s personally led hundreds of clients to achieve their ultimate body, mind, image and lifestyle; inspiring them to “get their mojo back.” She’s also the author of A Pocket Full of Mojo: 365 Proven Strategies To Create Your Ultimate Body, Mind, Image and Lifestyle. http://www.themojocoach.com/book_pocketfull.php

SmallBizLady: What are some of the common health issues you often see with small business owners?

Debi Silber: The most common health issues I see are stress related illnesses, chronic disease (which is largely caused by stress and bad habits/conditioning), unmanaged stress, frustration and overwhelm.

SmallBizLady: Why are stress related issues so common?

Debi Silber: It’s a combination of many things but with the small business owner, it’s usually due to where we place our priorities. Many of us put our work at the top of the list. This usually means that our health and wellness gets pushed to the bottom of the list and we take care of ourselves if we have any time, energy and motivation left after all of our other priorities are taken care of. Unfortunately, by the time we’re finished with everything else, we’re usually too tired to do anything different, especially if it involves change. For many people, we’ll live this way until a health crisis or illness forces us to make changes.

SmallBizLady: What can a small business owner do to find more balance?

Debi Silber: There’s really no such thing as balance because your attention is given to whatever you deem important at the time. The key is to make the decision to view health and wellness as important too because really, the better you feel and live, the better your business will be. You’ll have more energy, confidence, be more productive and positive. You’ll exude a sense of confidence and personal power that makes people want to work with you. Can you wake up earlier and get your exercise in? Make lunch plans with a friend each week? Cook healthier meals on the weekend when you have more time? Journal, meditate, or find another way to de-stress? Take away from any unproductive time during your day and allot it to time spent on making yourself healthier and happier.

SmallBizLady: What are a few tips to eat healthier during a busy day?

Debi Silber: Always start with a healthy breakfast. It kick-starts your metabolism and is a great place to fuel up on fresh fruit, whole grains, lean protein and high fiber. Also, pre-plan your day. If you’ll be out, make sure you have some healthy snacks/meals and plenty of water to keep you nourished and hydrated. It’s also best to eat well-balanced meals (healthy carbs/protein/fruit or veg/little bit of fat) every 3-4 hours to keep your blood sugar and mood stable. This will prevent an energy surge and crash as well as prevent a binge because you got overly hungry or ate too much sugar.

SmallBizLady: What are some unhealthy habits you often see with your small business clients?

Debi Silber: We think we can only have a dysfunctional relationship with people but we often have it with food too. Binge, mindless, social and emotional eating behaviors can have us struggling with food, weight and health for years, and often decades. Some are just bad habits and something like emotional eating for example, is a way to soothe, calm, numb and relax us. It’s a way of self-medicating. We stuff ourselves to “check out” or “stuff” the pain from an uncomfortable emotion we don’t want to deal with. It’s an easy way of meeting an unmet need like anger, frustration, loneliness, boredom, feeling unfulfilled and even fatigue.

SmallBizLady: Exercise is important but we’re either too busy or we just don’t want to do it. What are a few tips to make sure we exercise?

Debi Silber: The first step is to understand our “fitness personality” so we can create a program we like based on our needs, health, preferences and lifestyle. Next, it’s usually best to get it in before the day starts because as the day progresses, things come up and exercise is one of the first things to go if you have a lot to do. If that’s not an option, keep your gym bag packed and ready to go, exercise on a lunch break, hit the gym before you come home, find a fitness buddy for accountability, TiVo your favorite shows and treat yourself to them while you exercise, create a reward system for getting your workout in, etc. The key is to find a way to get exercise in and stay motivated while bringing results.

SmallBizLady: When running your own business, especially from home, it’s difficult for many of us to “leave the office.” Any suggestions?

Debi Silber: Having my business from home, I find it helpful to physically leave the office and shut the door behind me once my kids come home. Shutting the door subconsciously reminds me that that part of the day is over and it’s time to move back into my role as wife and mom. I try not to go into the office much once the kids are home but when you love what you do, it’s especially hard to leave because it doesn’t feel like work! It’s also important to realize that there will ALWAYS be more to do so learn how to pace yourself for the sake of your health, your wellness, your sanity while keeping your priorities and values in check.

SmallBizLady: How does stress affect our health?

Debi Silber: When we’re stressed, we’re not interested in making healthy choices, reading labels, etc. We want comfort foods (which are loaded in fat, sugar and calories) because we’re looking for that feeling we felt when they were served to us long ago. Under stress, we’re also secreting more stress hormones, which encourage us to eat more. Stress also suppresses the immune system. A weakened or compromised immune system puts us at risk for many illnesses and diseases. Stress also affects our ability to heal, affects our nervous system, digestive system, reproductive system, hair, skin, organs, cells…just about everything.

SmallBizLady: What are some of the dangers of stress?

Debi Silber: Stress creates physical, mental, emotional wear and tear. It’s hard to imagine though because we think a physical cause causes a physical pain (ex: stub your toe, it hurts) but think about it. You hear something and your face reddens with anger, you’re embarrassed and you flush, you’re nervous and you feel butterflies, you’re upset and your stomach hurts. These are physical reactions to emotions/feelings. These emotions release stress hormones and chemicals and over time, these chemicals cause huge wear and tear.

SmallBizLady: Sometimes our lifestyles (spouse, family, running a business, etc.) can affect our sleep. What’s the link between a lack of sleep and our health?

Debi Silber: When stressed, we’re not sleeping well and will look for more energy through sugar and caffeine. The empty calories coming from sugar is one of the easiest ways to gain weight. A lack of sleep also leaves us groggy which makes us less productive during our day. It also makes us irritable, less patient, etc.

SmallBizLady: What’s the best way to start living a healthier lifestyle and making changes that last?

Debi Silber: Start small, making changes that work for you. Make 1 change in each of these areas-nutrition, fitness, relationships, emotional health, stress, and spirituality.

Here’s some examples: Nutrition-can you leave over a few bites of food at dinner, drink more water, make a healthy substitution? Fitness-can you commit to walking 1 day this week, bumping up the intensity of your jog, joining a class, working out with a fitness DVD or taking the dog for a run every day? Relationships-can you go out on a “date” with your partner, make plans with a friend, play more with your kids, call an old friend or make a new friend? Emotional-can you talk back to your “inner bully” (that voice that tells you that you can’t, you’re too old, not smart enough, not ready, etc.), change your perspective, lighten up? Stress-can you take 10 minutes to read a magazine, get more sleep, journal, meditate, relax in nature, listen to soothing music, laugh more, exercise to de-stress, knit, do yoga, etc.? Spirituality-can you find a way to feel more connected to something bigger-be more appreciative, donate your time or money to a cause you find meaningful, pray daily.

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

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, the Tavis Smiley Radio Show, in the Wall Street Journal, Entrepreneur 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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Women Entrepreneurs Are Better Because…

By on October 25, 2010 in Mompreneurs, Women in Business, Your Small Business

As women, we already play multiple roles in a day. Small business owners on average perform 10-13 jobs all at one time, including chief sales officer, market researcher, bill collector and secretary. Moms do too.  In fact, 82% of all women business owners are mothers, so managing details from work to home is a skill most women do as a reflex. In the early stages of a business, it’s all about the juggle, and women are better equipped to handle the stress and responsibility of running a small business.

We are better delegators. We understand that we can’t do everything, even if many of us believe that no one can do it better than us. We put support systems in place to get the job done. Whether it’s a team of virtual assistants to follow up on sales leads, chase down opportunities or keep our social media networks working or a college student or nanny so that our children will have someone looking after their safety, we make sure that a full team is in place so the trains run on time. While our team has our back, we can be present wherever we are, so that everyone we connect with knows we care.

We are willing to ask for help. We don’t just ask for help with driving directions, we are willing to ask others (especially other women) for advice and mentorship in our businesses. As women, we are willing to admit that we do not know everything and can show enough vulnerability to get what we need for our businesses. We are also willing to take advice. Being coachable is our secret weapon.

We are better equipped to make big decisions. We think about the long-term impact of our business decisions on our families, customers, vendors and employees – we’re not just about the short term gain.  We also use our intuition as an additional tool when dealing with customers.  If it feels like a client is going to use double the project management budget with a bunch of hand-holding nonsense, we might have an upfront hunch and hopefully, the sense to double the budget – or walk away from the contract.

We are better communicators. As women, we believe in talking through opportunities, problems and conflicts. We work better at consulting with others on critical decisions, especially if we think we need more information.  We are not afraid to get face to face with a difficult customer to work through any challenges and we are also naturally friendlier and less likely to intimidate sales targets or our employees.

Share your thoughts.  Leave a comment about this article.

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

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Smallbizlady’s 12 Step Program To Cure Work Addiction

By on October 4, 2010 in Business Inspiration, My Recommendations, Women in Business, Your Small Business

Starting a small business is a great way to become a raging workaholic. As a reformed workaholic, I have developed a 12 Step program so that you can run your business and have a life. If you start your business with the knowledge of how it can easily become all consuming—hopefully you will make a point to avoid work addiction. Seek balance early on in your business. 

1) Cook dinner at least twice a week Eating out is expensive and fattening.  Cook your own food as often as you can.  If you have a family, having dinner together is a great way to keep your family together and spend quality time. Remember your family spells love T-I-M-E.

2) Keep in touch with your friends Often times as entrepreneurs we end up with a bunch of friends just like us– other small business owners. If you have other friends that are not in your business circle, make a point of keeping in touch with them and making time for them no matter how busy you are with your business.

3) Play with your kid(s) or your sister’s kids Spending time with your kids is a great way to detox from your business. Sometimes I pick my son up from school and we just go to the park and play. He loves it and so do I.

4) Exercise Working out is good for the mind and the body.  It’s also a great way to blow off steam, think through a critical issue in your business and stay in shape. We all spend too much time in front of computers.  Walk it out—you and your business will be better for it.

5) Set regular hours When you are an entrepreneur, particularly if you work at home it’s easy to work all the time. Set regular work hours for yourself, so that you don’t feel like you are a slave to your business. Sometimes I just cut the monitor off on my computer so that I won’t be drawn to checking email one more time.

6) Take one day off per week Have one day a week when you do not work. For me that day is Sunday. I also try not to work on Saturday too, but as a professional speaker there are weekend events and conferences that require that I work.  In light of this I try not to do it three weekends in a row, so I can still be a soccer mom.

7) Have a niche As a small business owner, you have limited time and resources. You will have an easier time running your business if you are specific about who your client is and what problem you are solving.  Do not spend your time chasing everyone you think has money.

 8) Take real lunch breaks Bringing your sandwich back and sitting in front of your computer so you can work while eating is not a real lunch break. You need to remove yourself from the work environment even if it’s just for 20 minutes. Your eyes and your mind need a real break.

 9) Join a group that has nothing to do with work Have an interest outside of work.  I am active with charities that support organ donation.  You might want to consider joining a women’s group such as the Junior League or the Coalition of 100 Black Women. Men may want to join their college alumni association, fraternity group, the men ministry at church, and everyone can do board service. Consider being a volunteer.

10) Develop a hobby I got to point where I didn’t know how to relax, so I re-engaged with some hobbies that I enjoyed back when my life was not so complicated. I do gardening, yoga and I sing in my church choir.  What hobbies have you put on the back burner?

11) Hang out with your buds One of the things that can get lost when you start your business is your relationships with your close friends.  I am a busy lady, but I make a point of seeing my closest friends in person a few times a year.  I also have a party at my house every New Year’s day for my girlfriends I never get to see. I invite the same 15 women every year, and it’s one of my favorite holiday traditions.

12) Hire help The best way to keep perspective on your business is to get some help.  Whether you start with interns or engage part-timers or a virtual assistant. One of the best ways to stop feeling overwhelmed in your business is to focus on your strengths so that you can make enough money to hire the help you need.

Do you have any other tips for being able to have a life and run a business?  I want to hear what works for you.

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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Is Your Small Business The Most Important Thing To You?

By on September 13, 2010 in Melinda Emerson @SmallBizLady, Mompreneurs, My Recommendations, Pink Slip Entrepreneurs, Solopreneurs, Women in Business, Your Small Business

When I started my first company, I made a vow to myself that no one would be able to “outwork” me.  I believed that if I put more time into my business than my competition, it would make me successful.  I became the worst workaholic you could imagine.  I would actually leave church on Sunday—and then head into the office.  I worked 7 days a week and I created that culture for my employees, too.  You could call my office at 8pm and my assistant was still there answering the phone.  Now, I always bought lunch and dinner for my staff, but I didn’t have a life and neither did they.  And even though my company did well, I am not so sure it was because of all those hours at the office.

It is true that in the first couple of years your business, it really owns you.  But be careful not to give all of your energy to your business and completely neglect your family and friends.  Make a point to at least twice a week end your work day at a reasonable time.  There are too my entrepreneurs who are divorced, because they did not make their families their #1 customer.

Here’s a small quiz that will help you figure if you are on the road to burnout in your business.  Answer these questions Yes or No.

  • Do work long hours = 5 or more nights a week?
  • Do you prefer to be at a networking event instead of at home?
  • Do you know how to relax?
  • Do you still have a date night with your spouse?
  • Have you recently spent time hanging out with friends?
  • Do you still regularly do any of your hobbies?
  • Have you recently read a book for fun?

Your answers to these questions should make you think hard about what your top priority is for your life.

So, how did I finally stop devoting every waking hour to my business?
I was forced to take it easy when I became pregnant with my son.  Due to complications with my baby, I had a high risk pregnancy and was put on bed rest for 6 months.  I was forced to get a smart phone, and use technology more effectively. I was really only able to work 4-5 hours a day when I felt up to it. I had to delegate more and depend on my staff much more than I ever had. Once I had my son, I never returned to my workaholic ways.  I am now a family first entrepreneur. I figured out that my time is what my family needed most, if I wanted to have a family.

Are you a reformed workaholic? Tell me how you finally got your life back from your business?

For more tips on starting or growing your small business subscribe to Melinda Emerson’s blog at 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. She has been featured on NBC Nightly News, the Tavis Smiley Radio Show, in the Wall Street Journal, Entrepreneur 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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25 Business Women to Follow on Twitter

By on July 26, 2010 in Business Inspiration, Mompreneurs, My Recommendations, Social Media, Women in Business

As many of you know, I think Twitter is a fantastic social media tool to grow a small business brand.  There are many fabulous people who I’ve met online and these ladies are a special group of women who handle business in a way that I respect and admire.  I thought that I would share them with you so that you would know who I follow on Twitter.  If you follow me @smallbizlady you will often see me “retweet” information from these ladies:

@Smallbiztrends Anita Campbell, Editor Smallbiztrends http://www.smallbiztrends.com

@DawnRiversBaker  Dawn Rivers Baker, Editor The Microbusiness News Journal http://blog.microenterprisejournal.com/

@thebossnetwork Cameka  D. Smith Founder  of http://www.thebossnetwork.org/ Great site for women of color and all women in business

@Holly_hanna  Holly R. Hanna  Founder of http://www.Workathomewoman.com , a solid resource for WAH Moms and all business women

@ithinkbigger Kelly Scanlon National Chair, National Association of Women Business Owners http://www.NAWBO.org

@paulag01 Paula Gregorowicz Life Coach/Blogher Blogger http://www.thepaulagcompany.com

@bizauthor Stephanie Chandler Author/Speaker/Business Coach http://www.stephaniechandler.com She wrote one of my favorite books;  Entrepreneur to Infopreneur

@elenaverlee  Elena Verlee is a PR expert for small businesses http://www.prinyourpajamas.com

@darnyellejervey She’s the passion to profit coach http://www.darnyellejervey.com

@currentmom Katherine R. Lewis, editor of www.Currentmom.com Sunday is the day they focus on business, but they always have great info on the other days too.

@womanzworld Natalie Sission Founder of http://womanzworld.com/ great resource for female entrepreneurs

@shessothere Sweetie Berry High-level strategist and southern powerhouse for women with an emerging brand. http://www.shessothere.com

@cathywebsavvypr Cathy Larkin is a social media strategist and co-host of #Smallbizchat http://www.websavvypr.com

@indiebusiness Donna Maria Johnson Coles is A Small Business Blogger and Founder of the Indie Beauty Network http://www.indiebusinessblog.com

@simplicityinc A. Michelle Blakeley Micro Business Therapist and Blogger www.simplicityinc.com

@kgreenstreet  Karyn Greenstreet  business coach and queen of mastermind groups http://www.passionforbusiness.com

@richelleshaw Richelle Shaw is millionaire business coach and email marketing genius http://www.richelleshawmarketing.com/

@sueyoungmedia blogger/communications consultant http://getinfrontcommunications.com/

@CEOtoday Tachelle Daniels hosts CEO Today on Blogtalkradio—always an informative show http://www.blogtalkradio.com/ceo-today

@merylkevans Meryl K. Evans is s professional writer/blogger on small business, technology and writing. http://www.meryl.net

@pamperry Pam Perry PR coach and amazing book publicist http://www.brandingsuperstar.com

@janeoutofthebox  Michele DeKinder-Smith Marketing research expert and creator of http://www.JaneOutoftheBox.com

@ZimblerMiller Phyllis Zimbler Miller Power marketing and social media coach www.MillerMosaicLLC.com

@lenawest Lena West Social media strategist/blogger www.xynomedia.com

@allyson7minutes Allyson Lewis Productivity Expert/Author, 7 Minute Difference http://www.7minutedifference.com

For more tips on starting or growing your small business subscribe to Melinda Emerson’s blog at 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. She has been featured on NBC Nightly News, the Tavis Smiley Radio Show, in the Wall Street Journal, Entrepreneur 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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How to Become a Successful Woman Entrepreneur

By on July 22, 2010 in SmallBizChat, 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 with Adrianna Gardella @AdrianaGardella who is a blogger for the NewYorkTimes on women & entrepreneurship: She Owns It. Adriana is also is a BNET.com editor. She has been a senior editor for Fortune Small Business, a contributing editor for Success magazine, and a columnist covering management and career issues for CBS Interactive. She began her career as a lawyer, and has provided news and legal commentary on CNN and MSNBC. Read more about her column here: http://nyti.ms/d6DS46.

Smallbizlady: What are some of the challenges women face as small business owners?

Adriana Gardella: They face all of the same challenges as men who own businesses, plus some additional ones, including challenges related to getting their businesses funded and finding mentors and role models. As a journalist on women’s entrepreneurship, I have often heard from female business owners, “I didn’t know there were women out there just like me.”

Smallbizlady: What are some myths about women business owners?

Adriana Gardella: I think one of the biggest is that women aren’t interested in growing their businesses. That is definitely not what I’ve found in my conversations with women business owners across industries. They are very interested in building businesses that have an impact on the world, and to do that they know they need to grow. And the belief that women don’t have the educational and professional backgrounds to found and run tech companies, which may have been true back in the 70s, but isn’t the case now in 2010. I think it’s a major myth that women don’t help each other in business.

Smallbizlady: What are some of the ways women sabotage themselves as business owners?

Adriana Gardella: Not sure how to answer this since I don’t know that there are gender-specific ways that women (or men) sabotage themselves. I do know that many entrepreneurs (male and female) have to struggle to overcome the urge to do everything themselves.

Smallbizlady: Why are Venture Capitalists (VCs) less likely to fund women?

Adriana Gardella: I agree with something said by one of my interview subjects, Cindy Padnos of Illuminate Ventures. She said, “It’s not about a bunch of evil-minded men.” Rather, a lot of it has to do the tendency of people who are similar – whether it’s in terms of race, sex, schools attended, etc. — to feel more comfortable with others like them. It also has to do with “pattern recognition,” which essentially relates to the mental shortcuts investors take to determine whether a venture will succeed. If the last 10 successful companies were founded by nerdy white guys who went to Stanford, that’s what investors will be looking for when assessing a company’s chances of success.

Smallbizlady: What challenges face women venture capitals who would like to fund women?

Adriana Gardella: Until women reach critical mass in Venture Capital firms, they are going to be understandably reluctant go out on a limb to continually recommend that their firms fund women. They may (justifiably) fear appearing biased if they do so, which says a lot about what we consider “normal.” After all, no one would ever say, “We can’t fund this guy because we just funded 3 white guys just like him.” And yet, you can envision people protesting that they had just funded a woman, and had therefore somehow met their “quota.”

Smallbizlady: Many women do not support other women in business, what are the ways this can be combated?

Adriana Gardella: This is something you often hear, but I’ve never seen real evidence of it, either in my life or in the lives of the women I write about. I think this is the kind of thinking some people in the media like to promote, which is what prompted me to write my She Owns It post, “Women Don’t Help Each Other?” [http://boss.blogs.nytimes.com/2010/06/11/women-dont-help-each-other/] [short link: http://nyti.ms/cBv3Wv] In my blog, I have covered woman after woman who has made it a priority to help other women.

Smallbizlady: Is it a good idea to niche a business targeting women customers?

Adriana Gardella: The answer depends on the business. The most crucial thing is to know your customers VERY well. If they’re women, by all means target them.

Smallbizlady: So many women juggle kids, hubby and their business, do you have some tips on doing this well?

Adriana Gardella: I think it’s about doing work you absolutely love. When you love your work, you find time for it no matter what. You don’t typically hear people who are passionate about their work complaining that they have no time. I recommend the book 168 Hours: You have more time than you think (http://www.my168hours.com/blog/). Among the people the author writes about is Teresa Daytner, a mother of six who founded and runs a $3.5 million construction company. She knows what’s important and doesn’t waste time on what isn’t. I also think that women who find themselves bearing a disproportionate share of childcare and household duties need to ask themselves why they continue to do that, and why they don’t expect more of their partner (if they have one).

Smallbizlady: Often women are accused of making emotional decisions and not business decisions? What are your thoughts?

Adriana Gardella: Well, that kind of general accusation seems pretty silly. I guess one’s response would have to depend on who’s making the accusation and what you want or need from them as a business owner. On a related subject, I think that women are increasingly being recognized for their leadership skills. I read a recent study on the qualities of women as leaders. The study found: women leaders are more persuasive than their male counterparts; When feeling the sting of rejection, women leaders learn from adversity and carry on with an “I’ll show you” attitude; women leaders demonstrate an inclusive, team-building leadership style of problem solving and decision making, and women leaders are more likely to ignore rules and take risks. Link: http://bit.ly/a9NfiV.

Smallbizlady: Can you give any advice for women working with their spouses in business?

Adriana Gardella: That’s a tough one—and also a subject I plan to cover in an upcoming post! So, I’d love to get back to you on this one. I think as with any business partner, having a clear division of labor is important, and a crystal clear agreement as to what happens to the business if you wind up being one of the many couples to divorce. As I start to research this topic, I am learning that VCs don’t like to fund couples partly because of that risk. In fact, they even prefer to fund women!

Smallbizlady: How should women pursue mentors in business?

Adriana Gardella: There are so many wonderful organizations where you can meet like-minded peers and mentors. I’ll list just a few here. But the important thing is to get out there and go to conferences and events held by different groups. If you don’t like the events that one organization holds, keep trying others. I’d also strongly advise every small business owner to form an advisory board to help guide them because running your own business can be very isolating. In addition to alumni organizations and industry specific ones, there are groups like: Count Me In http://www.makemineamillion.org, which helps women grow their businesses; The Business Women’s Circle http://www.thebwc.org, a membership organization for women seeking to grow their businesses to $1 million or more in annual revenue; The Small Business Administration’s Office of Women’s Business Ownership Entrepreneurial Development http://www.sba.gov/aboutsba/sbaprograms/onlinewbc/index.html, which establishes and oversees a network of Women’s Business Centers throughout the United States.

Smallbizlady: What kinds of things should women business owners be reading to stay sharp in business?

Adriana Gardella: That answer will be industry-specific. I don’t think there’s anything unique to women that they should read. The important thing is to be up on all trends and developments in your field, subscribing to relevant industry/trade publications online and off to keep current.

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

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, the Tavis Smiley Radio Show, in the Wall Street Journal, Entrepreneur 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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What Undermines Most Small Businesses?

By on July 12, 2010 in Become Your Own Boss Tips, Branding & Marketing, Grow Your Business, My Recommendations, Women in Business, Your Small Business
 

Has Your Business Hit a Brick Wall?

Lack of Discipline:  When you work for yourself, you are the engine that drives your small business. This also means that you kill for your dinner day after day. As an entrepreneur you need to stay on task daily to accomplish your business goals. Don’t believe hype about making millions in your bunny slippers. I believe there’s something psychological and positive that you feel internally when you take a shower and get dressed before you start the day. It’s best to develop routines to avoid distractions. Do not work in a room that has a bed; it is far too inviting to take a nap when the pressure starts getting to you. Especially if you work from home, treat your work hours like you are in a professional office. Try not to run errands during the day or hold off on personal calls until after 5pm.

Lack of Organization:  It is amazing how much time you can waste looking for things when you don’t have your files in order.  That means your physical files as well as your computer files.  Use inbox, outbox and to be filed bins to keep your mail under control. You should also create general computer files and then use subfolders that track information by year.  For example, I use a proposals folder and then I have subfolders for each year 2009, 2010, and so on to track my information so that I do not need to re-create contract proposals every time I need one.  You should have file folders for your email as well.  One of the things I do to cut back on paper waste is to use my http://www.delicious.com account to file articles online that I want to read or refer back to later.  You should also have a folder where you keep monthly bank statements and receipts for your bookkeeper to reconcile your account monthly.

Lack of Niche Focus:  Too often, small business owners sell to anyone that they think has money as opposed to focusing on a niche target market.  You must niche to get rich!  You have limited time and resources to hit it big in business; you will have a much better shot at it if you hone in on a specific target customer. You should be able to see the face of your customer and tell a story about her. Where does she live? Does she have children? How much education does she have? Does she use the internet? Does she feel comfortable buying things online? Is she married? How often does she buy what you sell and how much does she usually spend? This is how much detail you should know about your customer to develop a niche marketing strategy.

Lack of a Marketing Plan:  In addition to knowing your customer, you need to have a great answer for “Why will they buy from you?” In other words, you need a signature move or secret sauce. There are lots of small business coaches out here, but why do you need the Smallbizlady? Here’s the answer: “After 12 years as an entrepreneur and five years as a business coach, I’ve developed a six-step planning system to help people transition from having a job to starting a business. The Emerson Planning System will help you plan a successful small business.”

Lack of a Business Plan:  This is the most common of all things that undermine small businesses. You need a business plan to run a successful small business. In the first few years of a business it is especially important that the business plan be reviewed and updated every 2-3 months to make sure the business is on the right track.  Your initial business plan is your hypothesis of what you think is going to happen in your business— and it will change once your business is exposed to the marketplace.  Do not treat your business plan like a historical document—use it to run your business.

What else do you think undermines the success of small businesses?

Melinda Emerson, known to many as “SmallBizLady,” is a Veteran Entrepreneur, Small Business Coach and Social Media Strategist who specializes in small business start-up, social media marketing and business development. She hosts #Smallbizchat weekly on Twitter for emerging entrepreneurs.  Melinda also publishes a resource blog www.succeedasyourownboss.com Her first book Become Your Own Boss in 12 Months http://bit.ly/asEgeR was released in March 2010 by Adams Media. For more information http://www.becomeyourownbossbook.com 

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On The Road To Oprah’s Own Network

By on May 31, 2010 in Business Inspiration, Mompreneurs, Pink Slip Entrepreneurs, Solopreneurs, Women in Business, Your Small Business

Vote for Smallbizlady!Many of you may not know this but Oprah Winfrey is who inspired me to become an entrepreneur.  When I was in college she opened Harpo Studios.  That planted the seed and really gave me the confidence that one day I could own my own production company.

I will never forget that time.  I was interning that summer in New York for the Today Show and back then, Lexisnexis was the way you looked up information. I used to hide in the ladies room until everyone went home so I could get onto the Lexis system and look up articles about Oprah’s new business. What fascinated me most about Oprah’s business acumen was not her number 1 talk show, but the fact that she owned her own creative product and negotiated her own syndication deal with King World.

It was the summer of my sophomore year in college when I caught the entrepreneurial bug and I started making plans. I even came up with the name of my first company – Quintessence Entertainment, Inc. I chose Quintessence because it means perfection I also thought it sounded kind of feminine (which I liked).

One of the things I knew about business was that I needed to get some experience before I started my own business. So I finished my broadcast journalism degree at Virginia Tech and then I got a job as a news producer. I worked in the industry six years as a producer and learned every job I could. Then I started thinking back on my business idea. After years of writing about murders and fires and working every Christmas in the news business, I knew that I was meant to do something else. It was a strange feeling as it was my dream job – and I hated it. 

While I was still working for the television station, I got a freelance gig working for a production company and then after February sweeps, I walked away from the news business and decided to start my own production company. The Oprah show was always one of my favorites.  I was very lucky I worked at a TV station where I got to watch her show most days before the news.

One of my favorite episodes was one show where a woman in the audience came to return a pair of Oprah’s shoes. Each year, Oprah auctions all of her clothes and shoes to raise money for charity. One year, a woman who was quite down on her luck, bought a simple pair of flat shoes in the sale. She didn’t even wear Oprah’s size. But she wanted the shoes for encouragement. She said whenever she felt depressed she would just stand in Oprah’s shoes until she felt better. She came to the show to give Oprah back her shoes because she didn’t need them anymore. I talked about this episode so much that when I started my production company, one of my best friends bought me a pair of slippers that Oprah said was one of her favorite things and told me that now I was walking in Oprah’s shoes.  It’s been almost 12 years, and I still have and love those slippers.

In 2005, in addition to running my multimedia production company, I became a professional speaker and small business coach.  It was an unintentional business. So many people called me for business advice and to present workshops and participate on panel discussions that after losing precious work hours each month, I realized that I’d better figure out a way to monetize my expertise. I started with my special report 44 Things To Do Before Going Into Business and that led to my book, Become Your Own Boss in 12 Months which was released in March 2010 by Adams Media.

In 2008, I decided to use Twitter to grow my speaking and coaching business, but when I got to the social networking site, my name was taken.  After I got over the initial shock, my friend Cathy Larkin came up with the idea that I should call myself “SmallBizLady” which has turned out to be the best thing that happened to my brand. In January 2009, I launched this blog as a resource for small business owners.

In early 2010, around that time was book was released, I had an idea for a reality TV show that would send me across the country helping America’s small business owners with their biggest small business challenge and leaving them with an action plan for success. Think of my show as a cross between The Suze Orman Show on CNBC and Tabatha’s Salon Takeover on the Bravo Network.

On May 4, 2010, Oprah partnered with mega producer Mark Burnett, the creator of Survivor and The Apprentice, to find a reality star to create a show for her new cable channel the Oprah Winfrey Network which will begin airing in 2011. 

I happened to see the announcement live on TV that day.  I had a strange feeling as I watched the contest announcement; it was like Oprah was talking directly to me.  In an instant, my cell phone was ringing from three different friends wanting to know if I saw it. They also thought that Oprah was looking for me.   Last week, I posted my show concept video to Oprah.com. Here’s the link http://bit.ly/9z13IT .  Please vote for me. There are no restrictions on voting. You can vote as many times as you want each day until July 3, 2010.

Oprah is also hosting live casting calls in four cities across the country at Kohl’s stores.  Several friends have agreed to go to the casting with me on June 5th.  I am going to get in line on June 4th, as they only promise to see the first 500 people. We are going to camp out in the parking lot — like back in the day for concert tickets.  I will be in line by 10 am Friday morning at the Kohl’s in Linden, NJ feel free to come and hang out with me and my friends in line as we continue this journey to win a show on the OWN Network.     

I believe everything that I’ve been through in business and in the television and production industry has prepared me for this moment—and I’m bringing along my Oprah slippers for good luck! 

Please tell everyone to vote and leave me a comment below about what you think about my pitch video on Oprah.com.

Melinda Emerson “Smallbizlady” is a seasoned entrepreneur, professional speaker, and small business coach. Her areas of expertise include small business start-up, business development and social media marketing.  Melinda hosts #Smallbizchat, a weekly talk show on Twitter for emerging entrepreneurs.  Melinda’s first book Become Your Own Boss in 12 months; A Month-by-Month Guide to Start a Business that Works was released in March 2010 by Adams Media.

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5 Common Myths About Starting a Small Business

By on May 24, 2010 in Become Your Own Boss Tips, Cash Flow & Finance, How to Start, Mompreneurs, Pink Slip Entrepreneurs, Solopreneurs, Starting A Small Business, Women in Business, Your Small Business
The real deal on starting a small business.

What's the real deal about starting a small business?

This is national small business week.  In honor of that I thought I would use my blog to dispel 5 common myths about starting a small business. I chose these five as they are the most common questions I get when I speak around the country and do workshops on how to transition from a job to small business ownership. Entrepreneurship is the only way to build true wealth in America, but you need to make sure that you understand what you are getting into for the long haul.  

Myth #1: Starting my own small business will give me more control over my schedule.

Reality: Starting a small business is not a 9 to 5 job. In the beginning your business owns you—you do not own it or your time.  For many startups, 14-16 hour days are not unusual.  As an entrepreneur, you do 10-13 jobs at once including being the chief sales person, business planner, secretary, payroll manager, human resource manager, brand manager, chief financial officer, technology manager, project manager and bill collector. Carving out time for yourself will be a luxury. If you duck out early to run a personal errand, you’ll need the make the time up once the kids go to bed.  For the first three years, do not plan on spending lots of time on the golf course, or taking off every Friday. Your business will need every minute you have to spare.

Myth #2: I don’t want any loans to start my small business – I can get grants.

Reality:  There’s no such thing as getting a grant to start your small business. Expect that the money to start your business will come from your right or left pocket. Successful startup entrepreneurs save 20-40% of every paycheck for at least 12 months prior to starting the business.

In fact, there are three pools of money you should have before your start a business 

  • An emergency savings account 
  • Enough budget to go for 12-24 months without a paycheck 
  • The first year of operating capital to run your business

Banks do not typically loan money to start-up businesses either. You need to be in business for two to three years to qualify for even a line of credit. The only chance you have of earning money you don’t need to pay back is if you win a business plan contest or new inventor competition, but that’s a long shot.  Now there are some franchises that provide funding, but 20-30% of the loan must come from your own resources.   

Myth #3: My business idea is so great my products will sell themselves.

Reality: Do not fool yourself. Building sales requires time, money, and a disciplined sales process that starts with strategic relationship building. How strong is your network? That’s where your first customers and sales will come from for your business.  What are your weekly marketing activities? Marketing is the engine that fuels a small business — no marketing = no sales.  Even if you have a big client, you do not want to put all your eggs into one basket.  Make sure your client base is diversified.   

Myth #4: I have been successful in corporate America; running a small business will not be too hard. 

Reality: If entrepreneurship were easy, everybody would be doing it. The biggest difference between working in corporate America and self-employment is infrastructure. You must build everything. You will have to do every job until you can afford help. Your corporate job can survive without you for a day or a week.  In your own business, if you don’t work, you don’t eat.  Sick days, hour lunches, health benefits and 401K perks don’t really exist in the start up phase of a small business.  You must be prepared to learn everything you can. If you already know everything, keep your good job—if you can.

Myth#5: Anybody can use my product or service.

Reality: One of the top reasons why small businesses fail is lack of having a niche target market.  Do not make the mistake of trying to sell to anyone that you think has money.  Take the time to develop a customer profile.  You should be able to see the face of your customer and know everything about her. How old is she? Does she have children?  In what country does she live? Does she make purchases using the internet? How much education does she have? What is her income? How often does she buy your product or service?

What other myths are out there about starting a small business?  Please let me know.

Melinda Emerson “Smallbizlady” is a seasoned entrepreneur, professional speaker, and small business coach. Her areas of expertise include small business start-up, business development and social media marketing.  Melinda hosts #Smallbizchat, a weekly talk show on Twitter for emerging entrepreneurs.  Melinda’s first book Become Your Own Boss in 12 months; A Month-by-Month Guide to Start a Business that Works was released in March 2010 by Adams Media.

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Winners of the $25,000 Entrepreneur’s Challenge

By on May 10, 2010 in Branding & Marketing, Grow Your Business, Melinda Emerson @SmallBizLady, Mompreneurs, Pink Slip Entrepreneurs, Solopreneurs, Women in Business, Your Small Business

In celebration of her first book, Become Your Own Boss in 12 Months: A Month-by-Month Guide to a Business That Works (Adams Media, March 2010), Melinda Emerson is annoucning contest winners featuring a prize of weekly small-business coaching sessions. “The contest brought so many worthy applicants that I found it impossible to choose one winner,” describes Emerson.  “I narrowed it to two winners who agreed to share the one-on-one coaching.”

Entrepreneurs Jennifer Furr, owner of PictureThatSound in Raleigh, North Carolina, and Chris Bell, owner of ChrisBell3rd & Company in Columbia, Maryland, will work with Emerson weekly and blog about their experiences.

In 2009, Jennifer Furr decided to leave her steady job in the pharmaceutical industry to pursue a dream – bringing a product to market that she couldn’t find in the retail world.

Jenn Furr

Furr founded PictureThatSound to fill an unmet need in the US memory-keeping market.  The company’s first product pairs a photo matte with a recordable device for sound.  Furr describes being pregnant with her second child and wanting to capture the ultrasound image with the heartbeat sound in her scrapbook album. “There are so many sounds that we take for granted, that we think we’ll always remember. Sometimes I close my eyes and picture a sound in my head, like my toddler’s giggle, my grandmother singing, or even my husband snoring. We provide a product that allows you to capture a photo and an audio snapshot of that memory, all in one.” Visit www.PictureThatSound.com.

Chris Bell

In June 2009, Chris Bell decided to use his creative business development and technology sales expertise to launch his consultancy, ChrisBell3rd & Company, LLC to exceed sales revenue objectives on behalf of executives, investors, and owners of small to mid-sized IT software and life sciences software companies. “This is a once in a lifetime opportunity to be coached by Smallbizlady, and I am thrilled to have been chosen.  I know she will help me grow my business,” said Bell.

ChrisBell3rd & Company, LLC exercises proven best practices with the latest in Sales 2.0 technology to deliver customized business development and sales approaches that uniquely fit their client’s product-type, corporate culture, and revenue goals. His mantra is simple: “Nobody cares what you know, until they know that you care – all is business is personal.”   Visit http://chrisbell3rd.com

Emerson says, “These two emerging entrepreneurs are exactly the type of dedicated small-business owners that I love to coach.  I was so touched by each of their stories of starting a business.”

Jennifer and Chris will receive coaching twice a month for one year and an autographed copy of Melinda Emerson’s book Become Your Own Boss in 12 Months, her life planning journal, and her Audio CD: 10 Things You Must Never Forget in Business. Emerson will also coach both entrepreneurs every other week throughout the year. The winners will be required to blog twice per month about their entrepreneurial journey.

Melinda Emerson “Smallbizlady” is a seasoned entrepreneur, professional speaker, and small business coach. Her areas of expertise include small business start-up, business development and social media marketing. Melinda is a well-known expert in achieving bottom line results and has helped many entrepreneurs to start and grow their businesses.  Melinda hosts #Smallbizchat, a weekly talk show on Twitter for emerging business owners. Melinda publishes a blog about running a profitable small business www.succeedasyourownboss.com.  Her first book Become Your Own Boss in 12 months; A Month-by-Month Guide to Start a Business That Works” was released March 2010 from Adams Media.  For more information, please visit www.becomeyourownbossbook.com

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A Woman’s Guide to Being Your Own Boss

By on May 3, 2010 in Become Your Own Boss Tips, Grow Your Business, Mompreneurs, My Recommendations, Women in Business, Your Small Business

Women have so many amazing qualities. We are caretakers. We build communities.  Our generosity is abundant. We are sensitive and, at times, emotional.  We make decisions ultimately on our intuition or, as I like to say – our spidey sense.

So why then, do women struggle in business? The very qualities that make us women and mothers get in our way when it comes to making money in business.  The reason is because our special qualities can either SERVE or SABOTAGE us.

My mother is the reason why I am an entrepreneur today.  When I was a kid, she started every kind of business you can imagine. She sold copper, Tupperware, Mary Kay, framed art.  She made drapes and dresses and she even reupholstered furniture.  The thing is, she never made much money at any of those businesses.  Why?  Because she gave too much of her product away, she never charged enough, she did business with friends and she was way too sympathetic — all too often.   My dad used to say that my mother would help anyone: stray dog, stray cat, or stray person.  It never mattered to her.  She simply believed in helping people.

When starting a small business, women must walk a fine line to do good and do well.  Our businesses should exemplify our core beliefs, but at the end of the day, we must have a competitive attitude. We must not ever shy away from what we should be paid or even hesitate to give a quote.  If you are not making money in your business, it doesn’t make much sense. If so, you might have only an expensive hobby.

Before we women start a business and become our own boss, we have to change our thinking.

Here’s what I mean:

How we Take Care of Others SERVES us when we create programs and services people want and will pay for.  This means we understand need demand.  We must be strategic about our products and services.  It SABOTAGES us when we push a service that clients may need, but do not value.  Or, by over-delivering to the point where we sacrifice our profit margin in order to please our clients.

Our ability to Build Community SERVES us when used to create an online community, membership programs, create a paid mastermind group, and monetize our mailing list.  It SABOTAGES us if we build our list and then don’t stay consistent, effect follow-up and keep it organized to really maximize the relationship. Action creates results.

Our Generosity SERVES us when we create irresistible product offers with major pricing discounts for early sign-up or payment in full at the time of registration.  It SABOTAGES us if we let people talk us down on price, or don’t charge enough, ask for referrals, aggressively pursue past due invoices, and publicize praise from grateful clients.

Our Sensitivity SERVES us when we focus on the customer’s pain points and respond quickly to the marketplace.  It SABOTAGES us if we take things personally, have a hair trigger temper, make business decisions based on emotion and do not keep up-to-date financial information.

Our Intuition SERVES us when we listen and ACT on it. It SABOTAGES us if we confuse fear or doubt with intuition.

If we effectively use the qualities that make us women in a smart way in business, we will create profitable and sustainable businesses that will not fail as expensive hobbies.  Being in business after all is about doing what you love and making money, so that you can do for yourself, for those whom you love and for your community.

What else do you think women should consider when going into business?

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

Melinda Emerson, known to many as “SmallBizLady,” is a Veteran Entrepreneur, Small Business Coach and Social Media Strategist who hosts #SmallBizChat weekly on Twitter for emerging entrepreneurs.  #Smallbizchat is the trusted resource on Twitter to discuss everything entrepreneurs need to know about launching and running a profitable small business. Her first book Become Your Own Boss in 12 Months was released in March 2010.

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