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Ask @SmallBizLady: How do I follow-up after a business conference?

By Melinda Emerson on June 17, 2011 in Ask Smallbizlady, Become Your Own Boss Tips, Branding & Marketing, Featured Post, Grow Your Business, Social Media, Technology

Every Friday, I answer your small business questions in a video blog segment called Ask Small Biz Lady. This week, I took a question live from the New York Times Small Business Summit.

Here’s the question: How do I make a plan to follow-up after a business conference? Here’s the answer: http://www.youtube.com/watch?v=Z3rKLFEkF_I

Immediately reach out to all of your new connections on LinkedIn.

Separate your new contact into piles email follow-up vs. hand-written note.
Wait 5-10 business days to follow-up your initial contact with a personal phone call. I really enjoyed attending this year’s conference.

Here’s some key takeaways: It’s all about being ready to do commerce via mobile devices. All websites need to be mobile ready and google is coming out with some innovate tools to help…stay tuned.

LivingSocial.com CEO Tim O’Shaughnessy, enlightened the audience by explaining how important it is to have a local sales presence for an online business. He also made the audience aware of all the other services his company can provide for small businesses beyond daily deals, which I am intrigued to learn about that more fully.

Susan Sobbott, President of American Express Open, shared sobering statistics on social media use among small businesses. 35% are using Facebook, 14% are using LinkedIn and 10% are on Twitter regularly.

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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9 Reasons Why Boomer Businesses Fail

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

Baby Boomers Businesses

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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9 Reasons Why Boomer Businesses Fail

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

Baby Boomers Businesses

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

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

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

By Melinda Emerson 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:

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

I’m always here as a resource.

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Cash Vs. Accrual Accounting

By Melinda Emerson on June 7, 2011 in Become Your Own Boss Tips, Cash Flow & Finance

Three Reasons Small Businesses Need to Know Both

While it makes sense for most small business owners to avoid the day-to-day details of accounting, there are two concepts about the structure of their accounting records that every business owner should understand. In fact, you may have already heard the terms cash-basis and accrual-basis from your tax CPA, banker, or others. After giving a quick explanation of both, I will present three reasons it makes sense to do both and the best way to make that happen.

Cash-Basis

There are generally two ways to report on the financial performance of your business–cash or accrual. Generally speaking, cash-basis accounting counts income and expenses when they flow through your bank account. If you invoice a customer today and the customer pays you 60-days later, you would recognize the income in 60 days, not today.

There is one main reason small businesses need to keep track of their finances on a cash basis–taxes. Most start-up and small business file their taxes on a cash-basis, primarily to avoid paying taxes on uncollected receivables that, in some cases, are never collected at all. For example, if your company has $25,000 in receivables due from customers at the end of your tax year, filing your tax return on a cash-basis means you don’t have to pay taxes on that $25,000 in that tax year. With a few industry-specific exceptions, every business must switch to paying taxes on an accrual-basis once it hits a certain size, usually $5 or $10 million in annual revenues (averaged over the last three years).

Accrual-Basis

In contrast to cash-basis, accrual accounting strives to recognize revenue and expenses when they are earned/incurred, having no correlation to when they flow through your bank account. If you ship your product today and send an invoice to your customer today, you recognize the income today, even if your customer waits another 60 days to pay.

This type of accounting follows what’s called the matching principle, which tries to match all costs directly related to generating revenue to the revenue it actually generates. This means that accrual accounting is actually a more accurate way to portray the performance of your company, which is one of the two main reasons a small business should keep their records on an accrual basis. The other reason is that it is the best opportunity for you to put your best foot forward with your bank. Cash accounting usually understates performance, whereas accrual shows how you are really doing.

How to do Both

So, we have one good reason to keep the books on a cash basis and two good reasons to follow the accrual accounting principles, which means you probably should do both. But how can a small business afford to keep two sets of books when it takes so much time and resource to just do it one way now. The answer is simple–you keep your books on an accrual basis, and then your tax CPA will convert your numbers to cash basis each year when he or she does your taxes.

Conclusion

While your tax CPA may encourage you to keep your books on a cash-basis only, he or she is incentivized to give you that advice. Knowing your true performance each month and being able to put your best foot forward with outside professionals is far more important and needs to be the highest priority when you decide on the accounting basis of the financial records your keep for your business.

Ken Kaufman is the author of Impact Your Business: An allegory of an entrepreneur’s journey to clarity, cash, profit, family, and success http://cfowise.com/impact-your-business. Ken, an award-winning CFO, has over a decade of experience helping small business owners and entrepreneurs attain the clarity they need to maximize their financial success. His has credited with creating the Six Scoreboards Every Business Needs. In addition to serving as an outsourced CFO to eleven entrepreneurial ventures, Ken writes regularly for American Express OPEN Forum and teaches New Venture Finance at a local university.

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Are you Google-able?

By Melinda Emerson 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

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.

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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6 Things Oprah Winfrey Taught Us About Business

By Melinda Emerson on June 5, 2011 in Become Your Own Boss Tips, Branding & Marketing, Business Inspiration, Customer Service, Grow Your Business, How to Start, Starting A Small Business, Women in Business, Your Small Business

Oprah Winfrey is my hero. I never thought about being an entrepreneur until she got on my radar when I was in college in the early 90’s. It was around that time that she opened Harpo Studios in Chicago, making her the third woman in the American entertainment industry (after Mary Pickford and Lucille Ball) to own her own studio. She immediately went from being just a daytime talk show host to becoming a media mogul. And it was awesome to watch. The biggest thing she did for me was show me that I could do it too. I have studied her every move in business. I had an Oprah file for a year before starting my production company in 1999. Any article I could get my hands on about her business I would devour, print and keep. What I love about her most is that she has never been about goals. Oprah Winfrey has always been about growth. She has constantly evolved. That and her business acumen will leave a lasting legacy to all business owners to come. Here are 6 Things Oprah Winfrey taught us about business. 1. Find your calling. Oprah said in her final show that every day she walked on stage she felt that she was exactly where she was supposed to be. If you have no life plan, you are most likely following someone else’s agenda for your life. Live on purpose! Don’t be one of these entrepreneurs with an endless to do list, exhausted at the end of day– getting nowhere fast and not making any money. Oprah urged us to follow our own truth. God speaks to us though visions and dreams. Pay attention to what he is showing you about your destiny and build a business around that. 2. People show you who they are the first time. If a prospective customer approaches you, acting like an impossible nightmare, that is exactly who they are and how they will behave if you move forward in business. Do not allow your need for money or a contract force you to tolerate someone who does not value your professional expertise. You will never be paid enough money to make it worth it. 3. Oprah owned a broad niche. Oprah targeted a demographic that was women of all ages and income levels. She developed shows that would appeal to career women, working moms, stay-at-home mothers, grandmothers, retirees, high school and college students. And her audience was loyal because she helped them be better, live better, and find a correct fitting bra. 4. OWN your mistakes. In the wake of disappointing ratings at OWN, The Oprah Winfrey Network, Oprah’s latest venture in partnership with Discovery Networks, Oprah made a change at the top. Network head Christina Norman, abruptly left the 4-month-old cable channel at the beginning of May. How many of us wait until it’s too late to make changes in our businesses? Evaluate what is going on in your business and do not be afraid to change course if you need to. 5. Know that you are worthy of success. Often times we know what we deserve, but the thing that keeps us from truly capturing it is internalizing that we are worthy of all God has for us in our lives and businesses. 6. Be willing to do what it takes. Oprah never missed a day of taping on her show in 25 years. She knew that showing up was the most important element in her success equation. Are you willing to do all that it takes to make your business a success? I have begun to reach major success in my business, but I started being your SmallBizLady in 2007. There is no such thing as overnight success. What lessons have you learned from Oprah in your small business? For more tips on how start or grow your small business subscribe to Melinda Emerson’s blog http://www.succeedasyourownboss.com. Melinda F. Emerson, known to many as SmallBizLady is one of America’s leading small business experts. As a seasoned entrepreneur, professional speaker, and small business coach, she develops audio, video and written content to fulfill her mission to end small business failure. As CEO of MFE Consulting LLC, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. Forbes Magazine recently named her one of the Top 20 women for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog www.succeedasyourownboss.com Melinda is also the author of the national bestseller Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works. (Adams Media 2010)

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

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

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

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

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

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

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Do you need a Small Business Makeover?

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

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

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

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

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

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

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Are You Focused on Your Follow-up?

By Melinda Emerson on May 23, 2011 in Become Your Own Boss Tips, Branding & Marketing, Customer Service

The choice to succeed as your own business is an exhilarating concept, and it comes with a price tag. There are endless responsibilities and tasks that must be taken care of and all of the pressure is on you. To choose to succeed as your own boss, it is absolutely vital you prime your network for awareness of your business and referrals for your services. Are you focused on your follow up?

The focus must be on sharing your experience, casting your vision, listening to others, getting out and networking. Connecting and interacting as frequently as possible with prospects is important and learning how to ask for referrals. You must focus always on casting the vision of your growing business while being present in the moment of relationships as well. Not only do you want to do this while the small business is up and running, but you want to plan and engage in this at least 12 months before launching the business. Communication and engagement are two powerful tools, learn to use them online and off.

The big mistake a lot of entrepreneurs make is only talking with customers or prospects when they are looking for more business. Clients referrals are important, but they are best obtained by excellent service or product offerings. If you as the business owner cross the line of too frequent requests for referrals, clients will quickly tire of being asked. The fact is your current customers and clients are who helping you keep your business on track, the relationship you share with them is essential to your continued success. Clients and customers are always willing to share their experience…whether its a good one or a difficult one. Make their experience with you count.

Competition for every service or business is at a ridiculous level online. Scarily, you are not the only person online offering the product your small business has to offer. You may not be the lowest price, your products may not be the biggest or the best, however, if you know your audience, and their needs, your business will stand out and shine. Your relationships, your delivery of service, your accessibility on line and off are the keys to your future. Smart phones make the management of presence accessible for individuals, even when you are the only staff in your organization, it is an important skill to learn.

People buy from people they trust and respect. We are far more likely to buy from a friend than a stranger. The same holds true for your customers and prospects. They want to know the person they are buying from cares about them, their needs and their wants.

Start networking and interacting online and off each day through your words, your tweets, your posts and your conversations. You are choosing to succeed as your own boss, you will choose to build from the ground up starting with the interaction process. Jump into forums whether on Linked In, online communities or local conversations on a daily basis. Friend request as many prospects as possible on Facebook. Share your two cents of sense on blogs, use services that link those comments back to your business and let people know who you are.

Engaging with people online and off in business means intentional presence. Be present on blogs, on Facebook, on LinkedIn. Be interested in prospects needs, study their processes, encourage their success. The highest form of prospecting involves truly engaging in their space and sharing your own space with them. From there, make it a point to send emails frequently even if it is simply to say hi or have a good weekend. People care about those who care about them. It sounds like an incredibly simple strategy, but you would be surprised how much of an impact nurturing your network in the pre-stages, during your first year and throughout the life of your success as your own boss.

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 #SmallBizChatWednesdays 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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Should I put my picture on my business card?

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

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

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

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

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

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

I’m always here as a resource.

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Enchantment by Guy Kawasaki is Worth the Read

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

Look for Guy Kawasaki's New Book Enchantment!

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

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

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

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

Grab this book today. I loved reading it.

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

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7 Keys to Power Networking

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

7 Keys to Power Networking

Power Networking at Business Event

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

Here are 7 things to consider when networking:

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

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

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

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

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

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

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

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

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Make This May The Month You Become Your Own Boss

By Melinda Emerson on May 11, 2011 in BYOB2011

Contact: Sonia Schenker
(E): sonia@melindaemerson.com
(P): 347-766-4289
FOR IMMEDIATE RELEASE

PHILADELPHIA, PA (May 9, 2011) – Melinda F. Emerson, SmallBizLady is a small business expert and bestselling author who has been featured in The Washington Post, Forbes, Fortune, Essence and Black Enterprise magazines. Known for her savvy approach to ending small business failure, she is crossing the country to coach small business owners through the Become Your Own Boss (BYOB2011) national tour. The conference is designed to give entrepreneurs a healthy slice of the reality of starting and running a successful business.

The half-day program sponsored by http://www.corpnet.com/, will be held in the nation’s capital at Busboys and Poets, 14th and V Streets NW, Wednesday May 25th, 2011 from 8-1pm. Registration is now open for area entrepreneurs seeking to ditch their paychecks and start or grow their own small businesses. All attendees will receive a free copy of Melinda’s new workbook as part of their registration. Seating is limited; tickets are $99 and are available online. Continue Reading →

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