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National Small Business Week is Here!

By on May 21, 2012 in Grow Your Business, Melinda Emerson @SmallBizLady, SmallBizChat, Your Small Business

America’s #1 Small Business Expert Joins the New York Times. I am excited to announce that I am joining the writing team at the You’re the Boss section of The New York Times. Premiering this May, my column on social media and small businesses will run weekly on the blog centered on small business ownership advice.  Loren Feldman, small-business editor of The New York Times says “Melinda Emerson is a force of nature. She will be writing about social media, and we are very excited about adding her passion, her energy and her insights to You’re the Boss.”  Click here to read more.

I consider May to be National Small Business Month. There are always tons of events, conferences and contests that kick-off or take place during the month of May, and this year is no exception.  May 20-26, 2012 is actually National Small Business Week, which is a great opportunity for businesses large and small to celebrate all that we contribute to the U.S. economy.  Here’s a list of some of the top events taking place this week to help you grow your small business:

On #Smallbizchat this week: We are having a National Small Business Week celebration sponsored by Verizon Small Business @VZSmallBiz. In honor of this special week, Verizon is giving away 12 top business books to the first 200 people who come to #Smallbizchat this Wednesday between 8-9pm ET and use our hashtag.  Follow my @SmallBizLady Twitter handle for more details. Here’s how to participate in #Smallbizchat http://bit.ly/S797e

This week’s #Smallbizchat topic: How to Use Pinterest to Grow Your Small Business with Jennifer Abernethy @SalesLounge and Author of The Complete Idiot’s Guide to Social Media Marketing.  Don’t miss it.

Join FedEx Office, Our Office is Your Office Tweet Chat Series On Tuesday May 22, 1-2pm ET with Gene Marks @GeneMarks. He’ll be sharing advice on networking to increase small business cash flow.  To join the live chat on Twitter, follow @FedExOffice and use hashtag #FedExOffice.

National Small Business Week Conference:  Sponsored by the Small Business Administration @SBAgov, which is holding its annual conference in DC this week. If you are in the area, they are having a Tweetup Tuesday May 22nd in DC. There is still time to register http://owl.li/aZhFu

See SmallBizLady Live: I’ll be in Chicago this week attending the Black Enterprise Entrepreneur’s Conference at the Chicago Hilton. It kicks off May 23-26th, 2012.  Be sure to check out www.blackenterprise.com this Thursday May 24th. A feature article on my business will be published as part of their Black Blogger Month series.

Great Contest Opportunity: If you are looking to expand your business, Chase and www.LivingSocial.com have teamed up to give up to 12 grants of $250K to small businesses. This is am amazing opportunity for today’s entrepreneurs. For complete contest details visit www.missionsmallbusiness.com The last day to enter is June 30th.

Do you know about any other great events for National Small Business Week? Please share them in the comments.

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

Melinda F. Emerson, known to many as SmallBizLady is America’s #1 small business 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 Quintessence Multimedia, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. Forbes Magazine named her #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog http://www.succeedasyourownboss.com Melinda is also bestselling author of Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works.

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Managing The Stress In Your Small Business

By on May 15, 2012 in Guest Articles, Your Small Business

Manage Small Business StressWhen you put out your shingle that says open for business, you immediately take on 10-14 jobs all at once. Even the best multi-tasker, can become a spaghetti brain at times, especially when everything happens all at once. How you handling stress is a key ingredient in your long-term success in business. Here is a list of techniques that a small business person can use to help manage their daily stress.

Take a deep breath:  If your to do list is out of hand, take a deep breath and try to find something to do for a few minutes to get your mind off of the problem. A person could take a walk, listen to some music, read the newspaper or do an activity that will give them a fresh perspective on things.  Stress and anxiety are very common when you work in business.

Break it down: When facing a current or upcoming task at your job that overwhelms you with a lot of anxiety, divide the task into a series of smaller steps and then complete each of the smaller tasks one at a time. Completing these smaller tasks will make the stress more manageable and increases your chances of success.

Challenge your thinking:  Challenge your negative thinking with positive statements and realistic thinking. When encountering thoughts that make you fearful or depressed, challenge those thoughts by asking yourself questions that will maintain objectivity and common sense. For example, you are afraid that you will not get that contract you’ve been working on for over a year –do not give into the fear. This will depresses you. The fact of the matter is that there all are kinds of opportunities available and just because you don’t get this contract doesn’t mean that it’s the end of the world. It just wasn’t meant for you.

Practice stress relief:  Do something regularly to help you manage your stress.  Try starting an exercise routine or running.  Some people enjoy yoga and team sports. Do not just sit in your office and worry all day. Surround yourself with mentors and others who can give you good advice. Running a business is all about making the hard decisions, but you can’t let the stress get to you or drive your decision making.

Take it one day at a time in your business. Remember, that you want to make decisions based on facts and not your emotions. There are usually other factors that cannot be anticipated and can affect the results of any situation. Get all of the facts of the situation and use them to your advantage. The more control you have over how you handle stress, the better off you will be in the long run.

Managing stress in your small businessManaging your stress takes practice.  The more you practice, the better you will become.

About the author: Stan Popovich is the author of “A Layman’s Guide to Managing Fear Using Psychology, Christianity and Non Resistant Methods” – an easy to read book that presents a general overview of techniques that are effective in managing persistent fears and anxieties. For additional information go to: http://www.managingfear.com

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How to Grow a Billion Dollar Membership Site QA

By on April 26, 2012 in Grow Your Business, Mompreneurs, Q & A Interviews, SmallBizChat, Women in Business, Your Small Business

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wednesday on Twitter from 8-9pm ET. This is excerpted from my recent interview with Alexis Maybank @giltfounder Alexis cofounded Gilt Groupe with her best friend Alexandra Wilkis Wilson. Gilt Groupe took only four years to take the fashionista crowd by storm, transform online shopping, and attract five million members and earn a $1 billion valuation.  Previously, Alexis was an early member of the eBay team and launched eBay Canada and helped launch eBay motors; She has a B.A. from Harvard College and an MBA from Harvard Business School. She has appeared on CBS-TV, CNN and other networks. She and her cofounder recently authored BY INVITATION ONLY: How We Built Gilt and Changed the Way Millions Shop (Portfolio; 2012) www.giltfounders.com Alexis shares tales from her wild ride of launching a hyper-growth startup.

 

SmallBizLady: Gilt Groupe took both the fashion and e-commerce industries by storm with such a simple idea.  How did you do it?

Alexis Maybank: My partner and I were inspired by the popularity of New York’s designer sample sales, and we wanted to make this popular local pastime available online to customers throughout the US.  Gilt Groupe was designed to offer highly coveted fashion labels at insider prices to a passionate group of consumers. Today we’ve evolved to become a website selling diverse luxury lifestyle products to customers around the world.

 

SmallBizLady: In just 4 years you attracted 5 million members and a $1 billion valuation. What is it that sets Gilt Groupe apart?

Alexis Maybank: The most critical factor contributing to our success was its founding team. In addition, we enlisted the industry’s leading and most coveted brands to sell on our site, for the first time sought to curate the best of a season or collection and not feature everything, tapped cutting edge viral and social marketing techniques to scale the customer base quickly, and used leading site creative to cultivate a leading luxury brand online.

 

SmallBizLady: Common advice is to never go into business with friends or family, but you have turned that on its head.  How has it worked for you?

Alexis Maybank: In a startup, it is absolutely critical to be able to trust and rely on your co founders and/or team. If you are considering going into business with a friend or family member, you are likely to put a lot on the line. It is important to communicate. Lay out any potential issues or concerns on the table and talk about them in detail. We did this because people told us to have these discussions, but we were never all that concerned about working together. It is important to think about the context of your friendship. In our case, we were friends from business school, so we had seen each other’s work ethic and drive in action, and we were familiar with each other’s basic business acumen. Most important, we each had seen the other at our best and worst and knew we would not encounter any surprises as we hit the inevitable highs and lows any start-up faces as it grows. Our confidence and trust in each other was absolute.

 

SmallBizLady: You talk about relationships and execution being keys to your success. Why are these two factors so important?

Alexis Maybank: Relationships were absolutely critical to the success of Gilt. Our relationships with the fashion community were necessary in convincing brands to sell their wares on Gilt. Our relationships with friends were important because they helped to form our early base of members and customers of the site. Our relationships also enabled us to find and recruit top talent in all functional areas, from merchandising to marketing to operations technology and finance.  Execution is key; ideas are cheap.  We knew that we needed to execute our vision better than our competitors, and we started having competitors enter our industry very quickly.

 

SmallBizLady: Gilt Groupe’s success was largely built during the recession. What advice do you have for someone starting their business in this economy?

Alexis Maybank: There is no better time than now to pursue an idea you are deeply passionate about, and in fact there are many sources of financing available now to would-be-entrepreneurs. If you have an idea, here are some things that you might consider in determining if now is the right time to pursue it. First the idea should be easy for you to explain in one sentence to a friend or colleague.  Second, does this concept exist in any shape or form already? Why or why not? Take an honest look at the marketplace. Who else is out there? Has someone already tried this and failed—and if so, why? Have times changed? Sometimes an idea can be too ahead of its time and advanced for the market. Importantly, can you test your idea before overinvesting, just to make sure? These days the best way to make sure that the time is right for your idea is to get it out there and see what people think. Getting customer feedback from the start will help you build a better product, one that will maximize your investment.

 

SmallBizLady: In your book you discuss the value of naysayers especially early on in building the company.  Can you explain their value? 

Alexis Maybank: Don’t get discouraged by the people who tell you your idea will never work. Instead listen to them and see if you can apply any of their thinking into refining and improving your strategy. If you can anticipate pitfalls and those hard questions you will get from investors and partners alike in advance and more importantly be ready with great, well-thought-through answers, then you will be better equipped for the challenges ahead.

 

SmallBizLady: With the tech industry still being predominantly male, what are some of the unique challenges you faced getting started? 

Alexis Maybank: We launched a business initially targeting female customers; in fact we were precisely the target demographic. This was very clearly an advantage as we understood the consumer mindset better than anyone. Beyond that it can be more challenging raising money as a woman. Women led 28 percent of all U.S. businesses in 2002. Yet female entrepreneurs historically receive less of the invested dollars coming from venture capital firms, estimates are as little as four to nine percent.  So while this is clearly a challenge, keep in mind that as a female you are more likely to be a more memorable party pitching the partnership as there are not as many women to walk through there doors to begin with!

 

SmallBizLady: Entrepreneurs think that venture capitalists invest in ideas, but you argue they really invest in people.  So what makes them want to invest in someone? 

Alexis Maybank: Because there’s so little due diligence that can be done on most new start-ups, it’s natural that VCs concentrate most on the team involved. Many investors like to see a track record of success and will use this to guide them. Drive, ambition, leadership potential, integrity and the ability to motivate others are also important traits for an entrepreneur. You need to focus on the background and skill sets of the key team members in order to convince investors that you are the right team to back.

 

SmallBizLady: Growth is something all small business owners work towards, but growing too quickly can be detrimental.  How can this be avoided?

Alexis Maybank: There are two areas where you see companies suffer when growing too rapidly. The first is not anticipating the right type of people they will need to lead various teams or functions, hiring them too late or making the wrong choices in hiring.  Hire fast enough, but do not over-hire, and invest in recruiting the right talent so you do not have to rehire later, which is often a time consuming and sometimes costly mistake.  Second, if you grow too rapidly and are not investing enough in making sure your business infrastructure is strong enough then you can find yourself ground to a halt when the site crashes, the orders outpace what you can ship out in an acceptable time, or your accounting systems fail and lead to detrimental errors in expense reporting or others. Try to anticipate what could “break” next and get rigorous as a team in shifting focus fast enough to address these problems.

 

SmallBizLady: What advice can you offer for how to spot a trend that could reinvent an industry?

Alexis Maybank: There are no simple formulas here.  However if you are intimately familiar with an industry or a customer group, and you recognize a really tough problem that is universally faced or a so-called pain point that confronts all, and you have a pretty good solution that you could introduce or build better than the existing alternatives, then you are probably on to something important.  Some of these problems could have been left for dead or abandoned, and sometimes people need to just take a fresh look at them.

 

SmallBizLady: Can anyone transform a personal passion like shopping into a business?
Alexis Maybank: Not all personal passions should be transformed into a business, but if you think that your passion has a viable market, then explore it, and perhaps find someone who could join you in your venture. We believe doing a start-up with someone you trust is so much more rewarding and fun than going at a business alone.

 

SmallBizLady: What role should style play in a professional woman’s career?

Alexis Maybank: Style is important, not only in terms of looking well groomed and put together in a manner true to who you are as a person, but more importantly personal leadership style. In the book we discuss differences in leadership styles. Not every approach will work for every woman, but over time one can hone in on what feels natural and what is effective in reaching your goals and standing out amongst the crowd.  If you are true to your nature in presentation and style, then you feel most comfortable, and are inevitably at your most confident – the key ingredient to true style.

 

SmallBizLady: Gilt Groupe has since expanded beyond fashion with sister sites such as Jetsetter.com for travel and GiltCity.com for local deals and finds.  Was this always part of the plan?

Alexis Maybank: We have always been close to our customers. We both spend a lot of time with our members, listening to their perspective and ideas and responding to their feedback, as well as investing in regular customer research. Our members communicated clearly that they were not only interested in fashion and decorative items, but they lived or aspired to live a luxury lifestyle which included travel, local experiences, food and wine. We incorporated this feedback into our business and our offerings.

 

SmallBizLady: What are some tips you can share to help people maintain their corporate culture during major company growth?

Alexis Maybank: It is not always easy to maintain a corporate culture as a company grows, but it is important and is absolutely worth the investment. Establishing a vision and a mission and regularly communicating them to the employee base and to potential hires is important. Think about company culture when hiring. The cultural fit for a candidate is just as important, and sometimes even more important, than the candidate’s skill set.  The best way to select individuals who fit your company’s culture is to include employees in the hiring process who embody the culture and are really good at vetting for certain values in the hiring process.  Make sure they are involved in training new hires, too.  You can even do something as simple as hosting lunch or after-work cocktails.  No matter what however, the company’s culture will always be a reflection of the leader or leadership. So you must lead based on what you value culturally.  Any disconnect will lead to a shift, even if not intended.

 

SmallBizLady: What challenges is Gilt currently facing and what are you doing to overcome them?

Alexis Maybank: Our site has always centered on the excitement of fresh inventory daily at insider prices and our customers know we have selected the best of the best from a collection or a designer, so they don’t have to look at everything or spend hours shopping.  It’s a simple, fast and fun experience that revolutionized online shopping.  As we grow into more lifestyle categories and offer hundreds of sales weekly now, we must focus on keeping the shopping experience as exhilarating, speedy and entertaining. This means we have to invest heavily in anticipating what each customer wants to shop for when s/he visits our site.  People want to see the 15 sales best for them – not everything — and feel ‘wow, Gilt really knows me.’  Therefore we are investing in understanding people’s preferences and shopping patterns so that we can deliver the most personalized shopping experience on the web to each person and allow her / him to discover the right products quickly.

If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter.  Here’s how to participate in #Smallbizchat http://bit.ly/S797e 

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 Quintessence Multimedia, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. Forbes Magazine named her #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog http://www.succeedasyourownboss.com Melinda is also bestseller author of Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works.

 

 

 

 

 

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How to Be Successful as a Franchise Owner with Dina Dwyer-Owens

By on March 22, 2012 in Mompreneurs, Q & A Interviews, SmallBizChat, Starting A Small Business, Women in Business

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wednesday on Twitter from 8-9pm ET. This is excerpted from my recent interview with @DinaDwyerOwens.  She’s the Chairwoman and CEO of The Dwyer Group www.dwyergroup.com over such well-known service brands as Mr. Rooter, Aire Serv Heating and Air Conditioning, and Glass Doctor. She is also a past chairwoman of the International Franchise Association in Washington D.C., the world’s largest advocacy group for franchising. She’s the author of Live R.I.C.H.: How to build success in your company and your life with a proven Code of Values. And many people now know her form her appearance earlier this year on the CBS hit reality show “Undercover Boss” where she went on the front lines of her business in search of her company’s Code of Values at work. For more information www.dinadwyerowens.com

 

Smallbizlady: What exactly is franchising?

Dina Dwyer-Owens: Franchising is a business strategy – a method of distributing products or services. The “franchisor” lends a trademark, trade name and business system. The “franchisee” pays an initial fee and ongoing royalty for the right to do business under the franchisor’s name and system.

 

Smallbizlady: Where do I start if I want to buy a franchise?

Dina Dwyer-Owens: The best place to start is by finding something that you’re passionate about — something that you can look forward to doing every day. That is true of any career. But it is even more powerful when you plan to be your own boss and invest in a franchise! There are over 825,000 franchise businesses across 300 business lines, so the key is identifying which franchise opportunity best fits you and your personal and professional desires.

  1.  Visit www.franchise.org – the website for the International Franchise Associate to look at franchise opportunities.
  2. Talk to existing franchise owners of concepts that interest you.
  3. Request a Franchise Disclosure Document (FDD), a document required by law that details the franchise opportunity.

 

Smallbizlady: What does a franchise cost?

Dina Dwyer-Owens: Investment levels range from $5,000 to multi-millions. There are home-based businesses and then there are large retail opportunities. There is something for everyone and your ability to finance an opportunity will also help define the franchise that is right for you.

 

Smallbizlady: Am I more likely to succeed with a franchise?

Dina Dwyer-Owens: Franchising is not for everyone. And buying a franchise does not automatically guarantee business success. The system works IF you work the system. You should not expect to join a recognizable brand and sit back and expect the customers to find you. A good franchise owner is still proactive about marketing the business and following a system that has been proven and replicated across a successful brand. The most successful franchises still require hard work and dedication.

 

Smallbizlady: What are the biggest advantages of owning a franchised business versus being an independent business?

Dina Dwyer-Owens: There is a popular saying that franchising is about being in business for yourself, but not by yourself. The advantages to joining a franchise include: (1) buying power with vendors that command a better price for things needed to run your business, (2) national branding and name recognition, (3) support and training from your franchisor, (4) peer-to-peer networking to share best practices with others who know your business and are not your competitors, and more.

 

Smallbizlady: What are a few important things people should know about franchising?

Dina Dwyer-Owens: A franchisee is not completely independent. The franchisee will pay ongoing royalties and advertising fees to the franchisor for the rights to operate under that business.  The term of a franchise agreement is usually limited until that time that it comes up for renewal.  And, likewise, there is often a well-traveled exit strategy at a time that a franchisee wants to retire or desires to sell his or her business.

 

Smallbizlady: Are there special programs to help assist in purchasing a franchise?

Dina Dwyer-Owens: There are several. Two that come to mind are VetFran (which was started by The Dwyer Group) and MinorityFran. VetFran is now supported by the International Franchise Association and the US Department of Veterans Affairs and the Small Business Administration. Today, more than 450 franchisors offer military veterans their best financial discount on purchasing a franchise, and more than 2,100 franchises have been awarded through the program.

MinorityFran provides one convenient place where minority prospects can explore franchise opportunities from companies actively seeking minority franchisees. The program partners with Small Business Development Centers, Urban League chapters, and Minority Business Development Agencies among others.

Then there are also franchisors (like at The Dwyer Group) that assist in providing financing.

 

Smallbizlady: What are some of the latest trends in franchising?

Dina Dwyer-Owens: In today’s economy, it’s increasingly difficult to secure a loan for a small business – even for people with perfect credit. Yet small businesses in America are what have led our country through tough economic times again and again. As bank lending remains tight, franchisors and franchisees are working together to help people into business. At The Dwyer Group, we have always offered financing to qualified prospects. And there is a growing number of people across franchising who are taking advantage of programs like VetFran and other discounts, because together we are making the business world stronger.
Smallbizlady: You have coined the phrase “Live RICH” Can your define that?

Dina Dwyer-Owens: At The Dwyer Group, we operate our businesses with a Code of Values, based on the themes of Respect, Integrity, Customer Focus and Having Fun in the Process. That is what it means to Live RICH, and it’s at the heart of our corporate culture. I consider it a big reason why we are successful across our brands. We do not claim to be perfect, but our values provide us a roadmap to follow that allows us to do our very best. And I’ve written about it to share it with others in my book Live RICH.

 

Smallbizlady: You are the second generation in your family to run your company, in a male-dominated industry, no less. How do you do it?

Dina Dwyer-Owens: I surround myself with a great team, and each team member brings strengths to our organization that work together to create a great company and successful service brands. As for being a woman in my industry, I am also the target customer for our service brands. I am the woman of the house who hires our service brands in a majority of the jobs our franchisees perform. That is a wonderful perspective that we have embraced across our franchise family in putting “Customers First.” For the woman of the house, concerns go beyond just a service repair. There’s a branded van, a service professional in a clean uniform, booties worn in the house, a doormat with a logo and so much more that enhance the customer experience. Being a woman is a win-win in leading an organization that supports this level of service.

 

Smallbizlady: How did you define success in your 30s and How do you define it now?

Dina Dwyer-Owens: In my 30s it was about proving myself capable in the tasks of leadership. It was about attracting private equity and getting back to our roots in focusing on our core service brands. I traveled a lot. I was away from home a lot. But all the work by our team laid the foundation for an even stronger future. In my 40s, success is about growing our team and our brands to the next level with our next private equity partner. It’s championing what we know, which in fact has given me more time to prioritize. I still work hard, but I make more time for my family and my faith on a regular basis. I have more balance today, which I call a huge success.

 

Smallbizlady: If you could stand on a roof and shout small business advice to the audience below what would you say?

Dina Dwyer-Owens: Small business is empowering, and we need much more of it. Small business is the future. We’ve heard enough about the ills of Wall Street. Now it’s time to get back to Main Street and honor the men and women who are truly the backbone of our economy. More people want to be their own boss, want to determine their own destinies, want to create desirable workplaces and do things they are passionate about. Small business is championing those answers.

 

If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter.  Here’s how to participate in #Smallbizchat http://bit.ly/S797e 

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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How to Export to China as a Small Business

By on March 15, 2012 in Grow Your Business, Your Small Business

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wednesday on Twitter from 8-9pm ET. This is excerpted from my recent interview with Frank Lavin @Export_Now Frank was America’s salesman in chief in his role as Under Secretary for International Trade at the U.S. Department of Commerce. Fluent in English and Mandarin, from 2001-2005, he served as the U.S. Ambassador to Singapore, during which time he negotiated the Free Trade Agreement between the US and Singapore. His company, Export Now is a service that allows U.S. producers to sell their goods on China’s largest e-commerce platform, Taobao. For more info http://www.exportnow.com

SmallBizLady: Why should small businesses be trying to export?

Frank Lavin: Sales growth can accelerate with a new sales channel. Look across the border. While the domestic economy is growing at about 3% this year, many countries expect 5, 7 or 9% growth in 2012. When a company enters new markets, it increases its customer base; and a larger customer base means increased sales; and ultimately a company with more sales will hire more workers. “Selling goods and services overseas should be a part of every business plan,” says the current Undersecretary of Commerce for International Trade, Francisco Sanchez.

 

SmallBizLady: Why is China a good target market for small businesses?

 Frank Lavin: China is not just the largest oversees market. Chinese consumers see American brands, from the iPhone to laundry detergent, as a sign of quality. A population more urban and more middle-class than ever before places a premium on products that represent high standards and sophisticated tastes. Families typically have one child but increasing levels of disposable income. They value American goods. In ten years, U.S. exports to China increased by 468 percent, a growth rate that is higher than the growth rate for exports to the rest of the world.

 

SmallBizLady What is the best way for a small business to sell in the Chinese marketplace?

Frank Lavin: E-commerce is a simple and efficient way to reach customers in new markets. The smaller the company, the less practical it is to learn a new language, deal with new tax codes and currencies and to take a huge global risk. E-commerce reduces those barriers and lowers the costs of entering a new market.

 

 

SmallBizLady: Why is e-commerce the best option for selling to the Chinese?

 

Frank Lavin: In China, e-commerce has grown rapidly as an alternative to shopping in physical stores. In a nation still building the highway and mall infrastructure American consumers take for granted, Chinese e-commerce has leapfrogged ahead, making online retail the best opportunity for Chinese consumers to find the right combination of variety, quality and price. To open a physical store, or a wholesale operation, a company needs an extensive on-the-ground sales and marketing operation. The largest e-commerce platform in China has 150 million active customers and $60 billion in annual sales — a platform your company can reach from your desk in the United States.  E-commerce allows a U.S.-based business to make targeted marketing investments — starting at almost zero. It is widely recognized as an innovative tool that can help U.S. businesses sell to these markets more easily and more cost effectively.

 

SmallBizLady: So what are some of the options for selling in China?

Frank Lavin: There are four other steps many small businesses take to start selling in China: 1. Go to China on your own or with others in your industry and showcase your products at trade shows to find a local distributor. 2. Go on a trade mission organized by state or regional officials. 3. Contact a commercial officer at the U.S. embassy and ask to participate in the government’s match-making program that helps companies find distributors. 4. Check with your current customer base to find customers migrating to China or with China connections and follow your customers.

The largest global companies can afford to have managers fly to Shanghai, set up distribution networks and solve legal and customs issues.. Most small or mid-size companies that want to start with a modest investment under carefully controlled conditions will prefer to start with a partner that understands China. A partner with an e-commerce and logistics infrastructure can make your entry into a new market even easier.

 

SmallBizLady:  As a small business owner, what do I do to get started exporting to China?

Frank Lavin: Our book, “Export Now,” points out the mistake many companies make, which is to do nothing. Companies that fail to plan or to make an effort to learn local market conditions also fail to win new customers. We emphasize four steps: understanding how customers differ, understanding competitors in the new market, understanding the capabilities you need to win, and understanding the steps you need to take to close the capability gap.

 

SmallBizLady:  What can a small business owner do to encourage sales with an e-commerce solution in Chinese?

Frank Lavin: While e-commerce allows your product to speak for itself, a little help can spur sales. We will work with you to organize a focused online ad campaign, including product images, banners and a few videos that show your product in a Chinese context. Even a modest investment can make a difference. The Taobao search window is searchable in English so you can see how similar products are presented on the site, even if you do not understand the language. You will get all the customer data we have, including comments. Taobao has a culture of substantial commenting activity and that can help businesses as they shape a product line for export. (For example, shoppers will request products in particular colors and in this year, the Year of the Dragon, they will tell you that dragon logos are popular.)

 

SmallBizLady:  Who are the Chinese customers?

Frank Lavin: Taobao has 150 million active users. China has an ambitious, hard-working middle class with a strong appreciation for American consumer products. Chinese consumers aspire to the world-class quality they associate with top brands. Urbanization has pushed the population into cities and now more than half of Chinese live in urban areas. Five cities — Chongqing, Shanghai, Beijing, Guanzhou and Tianjin — each have populations of more than 10 million and another 150 Chinese cities each have populations of more than 1 million.

 

SmallBizLady:  What attracts Chinese consumers to buy certain products?

 Frank Lavin: The American lifestyle and its association with American brands attracts Chinese consumers. Small and mid-size businesses do best with premium and novelty products, items that Chinese consumers will associate with quality attributes. Some categories that draw particular interest are baby items that speak to the Chinese focus on education and safety, automotive items that appeal to car aficionados, and luxury home and beauty items. Exporters have found it is best to not focus on price competition but to emphasize a brand or product attribute that is well respected by consumers.

 

SmallBizLady: How do I win against copycat products?

Frank Lavin: The best defense is a strong offense. The single most important step to combat the possibility of intellectual property theft is to be in the marketplace yourself — and to go as fast as you can. Chinese consumers are increasingly sophisticated and they have demonstrated that they value an authentic product. Companies from Apple to Levi jeans have learned the advantages of bringing their own products to the market. Using a trusted partner increases the likelihood of success.

 

SmallBizLady: How can a small business owner sell agricultural products in China?

Frank Lavin: Food, cosmetics, wine, and pet food each require special licensing. Packaged goods from the United States are popular with shoppers. Stability is important, though. For now, no ice cream please!

 

SmallBizLady: How does Export Now work?

Frank Lavin: Export Now partners pay an annual service fee of $3,000. The annual service fee covers product listings and warehousing for one year.  Export Now partners also pay transaction fees for all products sold. Fees depend on individual tariffs and other costs and range from 15% to 20%. All in all, your margin for sales to consumers in China will be very close to your margin for sales in your home market. How the product is positioned and described to consumer is vital — so we do the translations by hand. Export Now handles all language, legal and customs issues. After our partners ship merchandise to the company’s depot in Long Beach, Calif., Export Now consolidates the goods it collects into containers that it ships by sea to its warehouse in Shanghai. Consolidating shipments and the use of sea routes instead of air cargo provides significant savings, which allows you to sell your products to Chinese consumers at attractive price points. On arrival, Export Now shepherds the merchandise through customs and handles the relevant duties and tariffs. Our China team also handles the relevant Chinese product labeling required by local authorities.

 

SmallBizLady: What are the three biggest things a small business owner should keep in mind as they begin to market their products to China?

Frank Lavin:

  1. Move incrementally. This mammoth market can absorb your entire marketing budget. Come up with a plan that allows you to move step by step and adjust as you go along.
  2. Find partners. Partnering with intermediaries can mean finding a distributor, a licensee or another ally who will be a force multiplier for you.
  3. Actively listen to customers. Be sure you have a robust feedback mechanism that allows you to hear about specific product attributes that may work well in the Chinese market. For example, Dunkin Donuts found success with a pork-flavored donut offered in its Chinese stores.

 

If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter. Here’s how to participate in #SmallBizChat: http://bit.ly/S797e

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 Quintessence Multimedia, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. Forbes Magazine named her #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog http://www.succeedasyourownboss.com Melinda is also bestseller author of Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works.

 

 

 

 

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How to Reinvent Your Small Business Brand – #SmallBizChat Q&A

By on February 9, 2012 in Branding & Marketing, Q & A Interviews, SmallBizChat, Your Small Business

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wednesday on Twitter from 8-9pm ET. This is excerpted from my recent interview with Branding Strategist @DeborahShane. Deborah is the Author of Career Transition-make the shift and a nationally published writer and speaker.  She hosts a weekly Blog, business radio show, and writes for several national blogs and websites including smallbiztrends.com, careerealism.com, American Express Open, Personalbrandingblog.com and Blogher.com. Deborah delivers smart ideas and solutions, which make her a popular go-to resource for clients and the national media. She has been featured on CBS, Fox, CNNMoney.com, HLNTV.com. Connect with her on the web at DeborahShane.com

Smallbizlady: Why are we talking SO much about personal branding?

Deborah Shane: It’s just not enough today to be in business or have a job. To be successful people have to develop a defining, distinctive personal brand that clearly communicates ‘who they are, what they  do and what they stand for’ to make an impression and get noticed. The emergence of “personal branding” has been an outgrowth of the social media revolution. People getting more personal in their communications through the social medias is an amazing way to build brand awareness and credibility. For business, people want to know who is behind a brand now. The authenticity and transparency has become much more important to consumers. For entrepreneurs is vital to come out in front of your brand to let people know who you are and give people a glimpse of you.

Smallbizlady: We use brand and branding so interchangeably. Is there a difference and why is that important?

Deborah Shane: The brand is you: what you do, stand for and believe in. The branding is you in action: everything you do to market yourself online and in person. These work together and are mutually interdependent. Creating your brand first (the who/what/package), all the visual imaging, logo, colors, messaging about who you are and what you do has to come first. The branding (packaging/presentation), or all the marketing tools, and platforms you use to market and present yourself can only happen when you have the brand package.

Smallbizlady: What are the 3 things stand out brands have in common?

Deborah Shane: They know exactly who they, what they do and whom they serve. An example of this is: “I am a baker that makes mini gourmet cupcakes”, or “I am nature watercolor artist who paints wildlife and birds. Knowing your target audience and the psychographics of your customer is key for marketing to them.

Smallbizlady: What are the steps one should take to reinvent an existing brand?

Deborah Shane: The first step is to review and update the Messaging about what you do, your value proposition. Make sure it is still relevant and targeting your key niche and customer. These should be kept very current with what it is NOW not 2 years ago.
The second step is to review and update your Visual Presentation. The formats, styles, presentation of your logo, websites, cards, marketing copy,  user experience should all be what you want people to see and what are the best practices of businesses NOW.
The third step is to use an Integrated Marketing approach for the ‘branding of your brand”. Review all the things you are doing to put yourself out there and make sure they are the best activities to reach your customer. Are they where your customer engages? Use these branding activities in tandem, together: social, email marketing, blogging, video, networking.

Smallbizlady: What kind of help does a small business need to reinvent their brand and how much should that cost?

Deborah Shane:
The DIY choice can work very well, as long as it is not taking too much time away from the other important things we need to do. Get a referral from people you know for marketing consulting, a graphic designer, website management and social media management. It is an investment you make in yourself and your business to look great and have a unified message. The prices can vary from the Elance.com type of site to a sold referral from your network. I highly recommend getting a referral, unless it is a very easy type of project.

Smallbizlady: Why is knowing your target customer and niche so important in small business branding?

Deborah Shane: By knowing this you can target the right media, messages and sales approach that is best for your target audience. Demographics plus psychographics gives you the best profile of your customer’s age, gender, background, and values.

Smallbizlady: How does someone build brand authenticity and credibility?

Deborah Shane: Demonstrate your brand’s core values as much as possible,. Have a defined, clear value statement and promise of who you are, what you do and whom you serve. Build your legacy and leadership by being consistent, authentic and telling your story, Strive to serving others. Reinvent and redefine yourself as things change, but be true to your core values. Don’t be afraid to fail, fall, show your vulnerability and celebrate perseverance and hope. Celebrate your sense of humor!

Smallbizlady: What social media platforms are best for building a personal brand?

Deborah Shane: Blogging is the best way to demonstrate your build brand and position you as an authority in your field. Email marketing can grow your personal relationships with your permission based list. Video can show your personality and allow people to connect with you more personally.
Facebook used more professionally on fan pages can get your people to engage, interact, rant, rave, discuss, ask questions all at the same time! It is an amazing engagement and branding tool.

Smallbizlady: How can you use multiple social media platforms together to build reach?

Deborah Shane: I have been combining my monthly themed email marketing newsletter with video, tele-calls, and articles on my blog. I also use my blog and email newsletter to promote my weekly business radio show, by highlighting upcoming and past shows and guests. I created a feature called “You’re in The Spotlight”, which combines all my digital assets: blog, radio show, email marketing, social media to highlight feature businesses and experts.

Smallbizlady: Why do some small business brands fail?

Deborah Shane: There are many ways that small business owners damage their brands including using multiple brands messages and/or images, inconsistent maintenance of blogs, and having no social media footrprint. You must have a professional brand image and logo that is on all of your web and hard copy materials.  You must be able to commit  to blogging two to three times a week, otherwise you shouldn’t bother. You must have a helpful website that tells people how you can help them within 7 seconds of them clicking on your page.

Smallbizlady: You talk about ‘accessorizing’ your brand like you do an outfit or your home décor, explain this?

Deborah Shane: In the fashion and design worlds, it’s that splash of color, pattern or grouping that catches the eye and grabs the emotion. So, why not apply this idea to ways you can accessorize your brand? Using stories, images, info-graphics, testimonials, color, video, etc to accessorize your brand and make your business more relatable to your target customer.

Smallbizlady: What are your top 3 tips for personal branding for 2012?

Deborah Shane: Reinvent and Leverage your talents and accomplishments. Use more video, testimonials, recommendations to create better results in your business.
Reimagine what success looks like and means to you today. Be realistic and put things in perspective for today, not 10 years ago.
Reinvigorate your visual brand and branding activities. Update your websites, logos, copy, messaging and business skills and make sure they are current and fresh. Network, network, network in person and online, and change up your routine.

Smallbizlady:  You have 25 Free and Low Cost Ways to Market Yourself NOW! How can people get the complimentary copy of them?

Deborah Shane:  Go to DeborahShane.com and sign up in the Join Our Community box and we will send them to you. That also get’s you in for our informative monthly letter and complimentary monthly tele-call.

If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter. Here’s how to participate in #SmallBizChat: http://bit.ly/S797e

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 Quintessence Multimedia, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. Forbes Magazine named her #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog http://www.succeedasyourownboss.com Melinda is also bestseller author of Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works.

 

 

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How To Be A Pregnant Entrepreneur – #Smallbizchat QA with Darla DeMorrow

By on January 19, 2012 in Mompreneurs, Q & A Interviews, SmallBizChat, Women in Business

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wednesday on Twitter from 8-9pm ET. This is excerpted from my recent interview with professional organizer Darla DeMorrow @DarlaDeMorrow  Darla helps people find their desktops, keys, time, money, and sanity as a certified professional organizer, but her kids still leave toys on the floor. She was a pregnant entrepreneur twice and wrote the book The Pregnant Entrepreneur. Website: www.PregnantEntrepreneur.com

Smallbizlady: Once I realize that I’m pregnant , who should I tell and when?

 

Darla DeMorrow:  Disclosure of your news requires a plan.  Start with your spouse, then family when the time is right.  Tell employees, then clients.  Then figure that everyone else will already have heard the news, but still be prepared to tell people.  Don’t let people wonder too long, especially employees and key clients.  You want to assure them that there is a plan for business continuation.  Unfortunately, there is still a stereotype that most women decide to stay home after having children, even if that isn’t reality. It’s unbelievable, but you may be discriminated against for being pregnant, and you may not even know it.  But it’s almost never worth pursuing, other than to perform your best, just as you always have.

Smallbizlady: What kinds of things should I spend my time on while pregnant, getting ready for change?

Darla DeMorrow:  In your first trimester, start any new projects that can better sustain the business, especially passive income streams that you might want to develop. In your second trimester, wrap up any major projects and secure any agreements with colleagues or suppliers.  In your third trimester, spend time on building relationships, scheduling business for your return from maternity leave, and putting finishing touches on any new passive revenue streams.

Smallbizlady: How long will I be able to work while pregnant?

Darla DeMorrow:  Every pregnancy is different, but with good health, most women will work right up until delivery.  Physical changes do start almost immediately, though, so the golden rule is to listen to your body and don’t do something if it stresses your body.  Although I was able to do much of my normal workload right up until my ninth month, I did find that I was accomplishing work much more slowly.  So if you work alone much of the time, consider bringing in an assistant to help speed things up, even if you are otherwise healthy.

Smallbizlady: How long of a maternity leave can I take?

Darla DeMorrow:  The good news: you decide how long you can take.  Your bank account determines how long you can afford to take.  Do a review of your bank account to see how long your business savings will allow you to run the business and still pay the bills. Decide how to increase revenues or cut expenses if you want to take a longer leave.  If you aren’t good with numbers, use the Maternity Planning Guide I developed to help figure it out. The guide is in The Pregnant Entrepreneur and downloadable free at www.PregnantEntrepreneur.com . If you have the opportunity to establish any passive income streams now, like books, virtual consulting, tele-training and paid subscription programs, they may be able to add income even while you are not working.

Smallbizlady: Will I be able to run my business, even with a pregnancy and with a child?

Darla DeMorrow:  Yes, if you want to.  The keys will be organization, focus, and support. Talk to other business owners.  Read what you can.  Write down your plans for the business. Do it now.  Most women will tell you that flexibility is the most important factor as their family grows, and you probably already have high flexibility as a business owner, so you are ahead of the game.

Smallbizlady: Will anyone else help pay for maternity leave?

Darla DeMorrow:  Sadly, no.  Unemployment and health insurance don’t cover maternity leave for the self-employed.  If you aren’t yet pregnant, you might be able to buy a disability policy to cover time off, but do the math to see if it will pay enough to cover your loss of income.  Start with your insurance carrier or a local benefits and insurance broker to research this, but do it before you
get pregnant.

Who else can help me run the business, even if I am a sole proprietor? Get a team together.  Think like a big company and list out who your key suppliers and subcontractors are.  Figure out if any of them might be able to service clients while you are out.  Forge relationships with competitors to enable new clients to get serviced and old clients to get help.  Consider earning referral fees if you are willing to refer clients out to  Consider hiring help.

Smallbizlady: What if I don’t want to continue to run the business? When should I not continue?

Darla DeMorrow:  Being an entrepreneur is great, but only if you are profitable.  If your review of the business shows a deficit, and you can’t or don’t want to make changes to the business for profitability, then close the business without regret.  According to the SBA, 50% of small businesses close after just five years in business.  That doesn’t signal failure, but keeping an unprofitable business running while you could spend time on a new business or with your precious newborn is not a smart choice. This time will never come again. Having the option to devote time to your family is a luxury, and can be cherished.

Smallbizlady: I had a very difficult pregnancy and was on bed rest for nearly 6 months.  What advice do you have for entrepreneurs who run into complications?

Darla DeMorrow:  Complications that put you out of work are relatively rare, although they do happen.  Plan for the worst, from how you will handle clients or employees to the reserves that you’ll need to close operations for a while, should you run into trouble.  If you do get a bed rest prescription, talk with your doctor about how much work you should be doing, even with the help of today’s technology. Really, as a business owner, you should have a plan B anyway.  Anyone can run into events that would disrupt a business, from a death in the family to a car accident.  We don’t want to think about it, but successful business owners do.

Smallbizlady: Should I still try run my business with a small child?

Darla DeMorrow:  Yes!  If you are passionate about what you do, then your business will continue to be fun and rewarding, and possibly even a welcome break from all the pregnancy and baby craziness.  If you are profitable, even a little bit, the flexibility that you gain from owning your own business will be worth so much more when you have to work around another small person.  If you are passionate, you have a better chance of being successful than established businesses in your field.

Smallbizlady: What do I need to know about those first few weeks with my newborn?

Darla DeMorrow:  Turn off the technology. Everything changes, so plan but be flexible.  Give yourself a chance to unplug.  Six weeks is absolutely not enough time to get used to the new normal and handle a full work load.  Have a backup plan in place if you need to take a little longer getting your bearings.  You may want to keep in touch with key contacts, but don’t immediately jump back into the fray if you don’t have to.

Smallbizlady: What is the one thing you must do as a pregnant entrepreneur?

Darla DeMorrow:  If you don’t already do this, pay yourself.  Mark your paydays on the calendar.  Pay yourself when you sit down to pay your bills, once or twice a month.  Write yourself a check or get to the bank and withdraw cash.  If you haven’t started taking a salary from your business, start now, even if it is only $25 per week.  You’ve probably been pouring all of your profits back into the business, but you deserve a paycheck, too.  This becomes super important since you will probably need more income now, whether for necessities or just cute little baby outfits.  But if you are going to stay in business for the years to come, it has to be worth it, and working for free isn’t fun for long.  Make it pay for you and your family.

 

If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter. Here’s how to participate in #SmallBizChat: http://bit.ly/S797e

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 Quintessence Multimedia, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. Forbes Magazine named her #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog http://www.succeedasyourownboss.com Melinda is also bestseller author of Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works.

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Ready to dream big in 2012?

By on January 4, 2012 in Business Inspiration, My Recommendations, Your Small Business

Which road do you choose?

Are you ready to dream big in 2012? This is the perfect time to get a clear sense of what you need to do better in your business.  Setting annual sales goals is fine, but you know me. I am all about the 30-day sales goal. As in, how much money do you need to make this week? It becomes a lot more real when you focus on your revenues it this way.  Another great trick I use at the beginning of every year, I make a target list of people I want to meet and or do business with. Then twice a week, I reach out to some of the folks on my list via phone call, personal note, linkedin or email.

At the end of last month, I pulled the SmallBizLady team together for a retreat. During our three days together, we did an annual review of the good, the bad and what we better never do again in my business. I held the retreat at my home, at my home at the beginning of December to make it half fun / half work. Once we did the review, we planned for 2012.  Too often we run our businesses in a reactionary mode.  We swing from tree to tree and go from fire to fire. That is draining and exhausting and great way to get yourself on the fast track to burn out.  We you take the time to set goals, you can stay focused.
Think about what you want to have happen in your business in 2011. Now, create a strategy that will drive your desired results for 2012.  This will quickly help you figure out what you need to stop doing right now.

Here are some clarifying questions to consider:

  • · Do you need to add to your team? (You can only be an army of 1 for so long)
  • · Are you set up operationally for a huge sale or major media exposure?
  • · What are you doing to engage your online community?
  • · How are you going to attract new clients?
  • · Are you charging enough?
  • · What are your highest revenue generating activities?
  • · Is there a new niche market that you want to pursue in 2012?
  • · What are the best lessons you learned in 2011?

Once of the biggest lessons I learned in 2011, is that I needed to say No more often.  Here’s my five best techniques for saying no to projects, employees, and potential clients that you know deep in the back of your head are going to be more trouble than they are worth.  Try these when someone comes at you with foolishness.

  1. No! It is a complete sentence.
  2. I couldn’t possibly do that!
  3. Nope, can’t do it! It’s not in the budget.   
  4. What?? Are you crazy? NO!!
  5. Absolutely, NOT going to happen!

Do you have any more ideas for how to get your 2012 started off right?  I want to learn your techniques.

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, sheMelinda Emerson "SmallBizLady" develops audio, video and written content to fulfill her mission to end small businessfailure.  As CEO of Quintessence Multimedia, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. Forbes Magazine recently named her the #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog 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 2011 Year in Review

By on December 21, 2011 in Business Inspiration, Your Small Business

Wow, it has been an amazing year. The SmallBizLady Team has worked hard providing information to end small business failure. I feel so blessed to have had an opportunity to travel the country and talk directly with small business owners about how to start and stay in business. There are so many big things to highlight from 2011. I travelled to 14 states this year on official SmallBizLady business (and I’m silver and gold preferred on an airline and with a hotel chain to prove it.) I was pushed and pulled in many unexpected ways this year.  I learned so much and updated my skills.

The year started off in January with a bang. I landed on the front page of the Washington Post Business section as my book Become Your Own Boss in 12 Months http://succeedasyourownboss.com/products/purchase-the-book/

was named the Color of Money book club pick of the month by personal finance columnist Michelle Singletary. http://www.washingtonpost.com/wp-dyn/content/article/2011/01/15/AR2011011502644.html  This article was syndicated in over 100 newspapers across the country and it pushed my book into a second printing.

In February, I got on a war path about branding. It is my desire to help small business owners understand that their web presence and social media footprint were a critical element in small business success. I led my revolution with my column on www.SecondAct.com Are You Googleable? http://www.secondact.com/2011/02/are-you-google-able/

In March, the Philadelphia Business Journal named me as host of #Smallbizchat a Social Media Star in the Greater Philadelphia Region. http://www.bizjournals.com/philadelphia/print-edition/2011/03/25/melinda-emerson-smallbizchat.html We also kicked off BYOB2011 Conference National Tour.

In April, my co-host Tai Goodwin and I celebrated the two year anniversary of #Smallbizchat with two special guests. Real Estate Mogul Barbara Corcoran from ABC’s Shark Tank joined us for an audio interview http://www.blogtalkradio.com/smallbizradio/2011/04/27/small-biz-lady-melinda-emerson-interviews-barbara-corcoran and Alan Weiss, Author of Million Dollar Consulting.  http://succeedasyourownboss.com/04/2011/smallbizchats-100th-show-small-business-legend-alan-weiss/ These two business legends are people whom I have always admired. It was my honor to share their powerful advice.

May was National Small Business Month. I travelled the country teaching people how to become their own boss, build a social media brand, keep the sales going in a small business.  I lectured for the MIT Sloan Sales Conference, Virginia Tech Women’s Leadership and Philanthropy Conference, Black Enterprise Entrepreneurs Conference, U.S. Chamber of Commerce Small Business Summit, Delaware County Community College, and my own BYOB2011 Conference in Washington, D.C.

In June, I kicked off the national campaign for the Pitney Bowes Small Business Makeover Contest and started writing for www.pbsmallessentials.com

In July 2011, I started doing monthly appearances on NBC10 in Philadelphia’s 10! Show on small business tips. http://www.nbcphiladelphia.com/shows/10-show/Build_Your_Own_Business_At_Home_Philadelphia-127247128.html

I headed to Boston, MA to speak at the National Urban League conference. I had an unexpected death in my family that took me back to Alabama to honor my dad’s baby brother too.  It was a sad occasion, but it was great to see all my relatives. I also got a chance to hang out with one of my small biz owners for some quality one-on-one time.

In August, Become Your Own Boss in 12 Months was the book of the month by Verizon Small Business http://forums.verizon.com/t5/Verizon-Small-Biz-Blog/bg-p/SMBBlog/label-name/melinda%20emerson and I was a guest expert on a live Tweetchat. I also had a major honor as I lectured at my father’s alma mater Alabama A&M in Huntsville, AL. I also swung through Houston, TX for the National Sales Network and my BYOB2011 Conference. Later, I hit the road with the team from Pitney Bowes to visit the five grand prize winners who won the Pitney Bowes Small Business Makeover contest.  Fellow small business experts Jane Applegate, Matt Mansfield, and Phil Simon went on the road with me to Fairfield, CT, Huntington Beach, CA, Knoxville, TN, Leesburg, FL and Melbourne, FL.  I really loved spending time with the contest winners. They were all special, and I am confident that the advice we gave them will grow their businesses. Shel Israel also wrote a profile piece for American Express Open Forum http://www.openforum.com/articles/how-melinda-emerson-became-the-online-pal-for-small-business

In September, I packed up the family and headed West to Wyoming and Yelllowstone National Park.  I keynoted the annual Wyoming girls conference hosted by NorthEast College in Powell, Wyoming.  It was the first time I have travelled to Wyoming. It was a delight to speak to 9th and 10th girls. (I was nervous, but it was awesome.)  This was a great trip because my mother and son were with me. Family is so important to me.  It was great to share that experience with them.

October, my birthday month, took me to Portland, Oregon for the National Association of Community College Entrepreneurship Conference, NAACE conference where I lectured on a few difference subjects, but I was most excited to talk with the entrepreneurship professors about how to use my book and workbook Are You Ready to Become Your Own Boss http://www.amazon.com/gp/product/0979983916/ref=cm_sw_r_tw_alp_tQ8Nnb1NCK52Y to teach small businesses on the college level. Fedex Office, hosted  a live tweetchat with me on ow to recession proof your business and I was a featured speaker for the Pennsylvania Conference For Women which was right in Philadelphia in my backyard for a change. The SmallBizLady Team also conducted the final BYOB2011 Conference for the year.

In November, the team had three big opportunities. I lectured at Brand Camp University in Detroit, MI and then I went to NYC, The New York Expo to lecture to a standing room only crowd on How to Niche to Get Rich. (One of my favorite subjects) And the Wall Street Journal thrilled me by quoting me as article about whether realty stars could be legitimate small business owners.  http://online.wsj.com/article/SB10001424052970204449804577068600801965064.html

In December, has been a whirlwind of activity. I started the month in NYC appearing on MSNBC’s Your Business http://www.youtube.com/watch?v=c2KEuthazEI and I moderated a panel for Inc Magazine’s 1st annual Women’s Summit.  I pulled The SmallBizLady Team back together in Philadelphia for a retreat at my home to plan the strategy for 2012.  The Philadelphia Inquirer made my Christmas bright with a profile story by Diane Mastrull titled SmallBizLady: Using social media to spread small-business advice

http://articles.philly.com/2011-12-19/business/30534422_1_social-media-small-business-twitter-fans and a Yahoo small business quoted me in an article on 7 Tips to start a business in 2012 http://smallbusiness.yahoo.com/advisor/7-tips-for-becoming-your-own-boss-in-2012.html

With a 2011 like this, I can’t wait to see what is in store for 2012.

What was your biggest accomplishment this year?

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 smallbusinessexperts. AsMelinda Emerson "SmallBizLady" a seasoned entrepreneur, professional speaker, and small business coach, she develops audio, video and written content to fulfill her mission to end small businessfailure.  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 the #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog 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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5 Tips to Create a Successful 2012 Marketing Budget

By on December 6, 2011 in Branding & Marketing, Grow Your Business, Women in Business, Your Small Business

It isn’t 2012 just yet.  But that doesn’t mean you shouldn’t be planning for it.  For any business to be successful, it’s necessary to have a marketing budget.  And while next year seems like a far off notion today, there is no better time to start establishing how you’ll invest your marketing dollars.  Below are five tips to create an effective marketing budget (whether budgeting is your thing or not).

  1. Start planning now.  Waiting until the start of next year to do a 2012 marketing budget is a great way to have a disorganized budget that leads to mishaps.  You need time to walk away from your initial budgeting ideas so you can come back to them with a clear head.  And when the numbers don’t add up (and often they don’t) you need time to develop a solution.
  2. Assess this year’s budget.  One way to get started with next year’s budget is to have a grasp of what was hot and what was not during 2011.  Were there areas you went well over budget?  Were there categories in which you never spent a dime?  Although this year’s activity isn’t an exact prediction of next year’s results, looking at your current expenses let’s you know where to make adjustments.
  3. Include an income column.  Not all marketing is an expense.  When you host a webinar or luncheon and charge people to attend, you are not only marketing your business but also deriving income from that activity.  Knowing what efforts bring in money is a great way to assess their impact on your business.  It also shows what is worth continuing and what needs to be scrapped.  If none of your marketing activities include income, it’s time to strategize a few income-producing endeavors.
  4. Expect the unexpected.  Keep in mind your marketing budget has many of the same characteristics as your personal budget.  No matter how well you plan for every eventuality, something will come up without notice.  Leaving a little wiggle room in your marketing budget for unexpected expenses lets you make sound decisions.  Label a special column for emergencies so the wiggle money doesn’t get needlessly spent on something frivolous for the office.
  5. Know the difference between a sound marketing strategy and a fad.  You may have your heart set on a marketing tactic, but if it doesn’t support your overall business or the numbers just aren’t showing, it’s time to let go.  If it seems that this tactic is being used by everyone else, keep in mind your business is different.  What works for one business might not work so well for another.  Know what your business needs so you can develop a unique, hard-to-copy marketing approach.

Creating a marketing budget (or any kind of budget, for that matter) is often NOT at the top of someone’s “favorites” to-do list.  But with persistence and a willingness to get started early, the process can help you build a solid foundation for the upcoming year.

By day Morgan Leu Parkhurst helps individuals put the pieces of their marketing puzzles together.  By night she teaches marketing to entrepreneurs.  Morgan is also   producer of the Magnetic Biz-Building Online Summit.  Connect with her on LinkedIn.

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6 Business Lessons for Under 30 Entrepreneurs

By on July 5, 2011 in Become Your Own Boss Tips, Branding & Marketing, Business Inspiration, Your Small Business

I recently had the opportunity to do a live Q & A call with a group called Under30CEO.com. They were a terrific bunch of young people many of whom were still college students. I wanted to share with all of you the advice I shared with them, because I think it could be useful for some of us over 30 entrepreneurs.  Here are the 6 business lessons I shared with the Under 30 entrepreneurs, most of which can be found in my book Become Your Own Boss in 12 Months.

Go work for the competition: Find a company like the one you want to start and work for them to learn the ropes first.  You will learn the industry, the best vendors, business processes, and you might even learn what not to do.  Get yourself a mentor business to model your business after.

People skills are critical. Being a people person is one of the most important skills any entrepreneur can have in business. You must be willing and able to sell yourself and your product or service to anyone.  You should be building a network 12-24 months before launching your business.

Live frugally. Save 20-40% of every paycheck. Your ability to save has everything to do with your ability to start a business. You will be able to fund whatever you want later in life if you protect your money when you are young. When you have debt driving your business you don’t make the best business decisions.

BYOB Be Your Own Bank. Only 3% of small businesses ever get funded. Don’t waste your time chasing venture capital unless you truly will have a million eyeballs on your business quickly. Start your business by funding it from within.

Constantly be learning. While you are still in college, take some business courses or if you can do a double major in business.  Once you launch your business, attend leadership and business courses, conferences and workshops every year to stay on top of things and reinventing your skills.

Timing is everything. A wise woman once told me, “A good idea is still a good idea three weeks from now.”  Don’t be in such a rush to launch your business. Do your homework! Know your customer.  Know your secret sauce and how you will stand out in the marketplace.  And know your competition and how you plan to deal with them.  All of this preparation will enable you to be really confident when you strike out in business.

Do you have any other suggestions for under 30 entrepreneurs?

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Ask @SmallBizLady: How can I get my kids to “buy in” to my business?

By on June 10, 2011 in Ask Smallbizlady, Business Inspiration, Mompreneurs, Your Small Business

Here’s the answer:

 

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

This week, we are taking on the question: How can I get my kids to “buy in”  to my business?

If you want to get your family to support your business follow these steps:

  1. Communicate with them and teach them what you do.
  2. Don’t be afraid to put even the little ones to work; Get them a job in the business
  3. Share your ideas and ask for their feedback
  4. Everyone loves to be asked for advice, so you can’t go wrong there.

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

I’m always here as a resource.

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The Minority Entrepreneur Accelerator Program Could Be Your Answer

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

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

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

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

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

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

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

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


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Are you Google-able?

By on June 6, 2011 in Ask Smallbizlady, Become Your Own Boss Tips, Branding & Marketing, Business Inspiration, Featured Post, Grow Your Business, How to Start, Melinda Emerson @SmallBizLady, Social Media, Technology, Your Small Business
google logo

google logo

If you’re ready for a midcareer makeover, you can get new clothes and a new haircut. But even more important, you must make yourself what I call “Google-able.” That means you need to create a smart social media footprint.

By day I work as a small-business coach, and I keep coming across amazing professionals with extraordinary credentials who want to build a consulting practice or establish themselves as thought leaders in their industry.

But here’s the problem: When I put their names in Google, I come up with nothing. No website, no social networking profile — not even a guest blog post. These people may have advanced degrees and impressive titles on their resumes, but there is no electronic evidence of their expertise and accomplishments. Since this has happened several times over the last few weeks, it dawned on me that I needed to help fellow midcareer folks understand this new paradigm.

Gone are the days of calling around to get the 411 on a potential business partner or new hire. These days, people do an internet search before you ever get a call about a new opportunity. Recruiters and corporate executives routinely conduct internet searches when looking for talent and don’t always advertise open positions. Many believe you don’t even exist if you don’t have a social media footprint.

Here are five essential steps to get started online.
1. Smile and click.

One of the key things you need prior to establishing yourself online is to get a professional headshot. Go ahead and spend money to get a good photo. It should be a smiling shot that is friendly. Even though you are communicating over the internet, people still want to see who they are talking to.

If you haven’t established an online presence yet, keep this in mind: You are using the skills you already know — how to communicate with people. Creating an online presence simply helps people find you. Think of it as your virtual business card, which is far more useful in 2011 than the paper variety.

2. Sign up at LinkedIn.

The first step to building your brand online is to stake your territory: One of the best moves you can make is to set up a profile on LinkedIn. Yes, you’ll also want to establish a Google profile and sign up for a Facebook or Twitter account, too. But LinkedIn is the most important.

“If you are looking to do anything in the professional world, LinkedIn is where you need to be. LinkedIn is the ultimate buyers’ market,” says Patrice Rutledge, author of Using LinkedIn.

Here are her top tips to make your profile shine on LinkedIn:

  • Add your profile and be sure to fill it out 100 percent. Your profile should use the appropriate keywords that your target audience would use to search for your expertise (including job title and certifications).
  • Use applications to enhance your profile (SlideShare presentations, Google presentations, portfolio display or box.net to add a resume).
  • A detailed company profile is important for a business owner. Be sure to link it to your personal LinkedIn profile.
3. Create a website.

The next thing you can do is register your name or your business name as a website domain and create a simple one- to five-page website. If you are interested in establishing yourself as a thought leader in your industry, adding a blog to your new website is a great idea.

I realize that this might sound intimidating, but it doesn’t have to be. You can register your own domain name and then hire a virtual assistant who specializes in social media to help you set it up. (By the way, a virtual assistant is an entrepreneur who assists business owners and busy people with time-consuming tasks, allowing them more time to focus on profit-generating activities.) With a few basic lessons, and time with tutorials, you can get going in no time.

4. Sign up for a Facebook account.

Cathy Larkin, founder of Web Savvy PR, conducts hands-on workshops to teach baby boomers how to use Facebook. Her clients often want to know what to talk about on their Facebook Fan Pages and how to create a good profile.

“I show people how to use Facebook rather than telling them how to do it,” Larkin says. “It’s all about figuring out what your intended audience wants to hear, learn or know about.”

She offers the example of a real estate agent who posted information about how to clear two feet of snow from your roof, which is much more creative — and useful — information than simply listing houses for sale.

Here are Larkin’s three tips for using Facebook Fan Pages:

  • Consider your keywords. Your domain name for your Facebook Fan Page should include keywords that people will use to search for you online.
  • Set your Info page as your default page. If someone visits you on Facebook, they will quickly get a sense of who you are and what you do (and hopefully fan your page).
  • Upload photos and online videos. It’s a great way to promote your products or services and add rich content to your Facebook Page.
5. Don’t forget Twitter.

Thomas MacEntee, the 48-year-old founder of High-Definition Genealogy, says its best to think of social media as a garden you have to tend.

Laid off from his tech job in Chicago in late 2008, MacEntee reinvented himself as a family historian — helping people investigate their family trees — and utilizes social media to connect with clients. It took MacEntee about a year to build his business.

He’s been so successful mastering the intricacies of Twitter — the free service that allows users to share information in 140 characters or less — that he now teaches a social media class for baby boomers called “Twitter: It’s not just what I had for breakfast anymore.”

He says the key to Twitter is giving as much as you get, and listening as much as you speak. He says some boomers have a problem with these concepts. “They think they are giving away their work for free, but it’s part of building yourself as a brand and an expert,” says MacEntee.

Here are some action steps to get you started building your online brand.

  • Decide what you wish to accomplish before using social media. Are you looking for a new work opportunity or simply want to connect with others who share a special interest or expertise?
  • Figure out who your audience is and where these folks hang out online. (You want to be as specific as possible in targeting your efforts.)
  • Create your LinkedIn account immediately. Add a great photo, import your contact database from your e-mail and join one group.
  • Expand to your own website, Facebook and/or Twitter.
  • Start developing a list of potentials blog topics. It’s a good idea to developed an archive of blog posts at least three months prior to launching your blog.
  • Remember that social media marketing is a marathon, not a sprint. You will get out of it what you invest in it.

If you follow all of these tips, when someone types your name into the world’s most famous search engine, they will immediately have your virtual business card — and so much more — right at their fingertips.

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

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

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