Tag Archives | Oprah Winfrey

5 Things Every Entrepreneur Must Do Each Day

By on October 17, 2011 in Business Inspiration, Cash Flow & Finance, Featured Post, Grow Your Business, My Recommendations

Meditate— The worst thing you can do for your business is start each day in a race. I am strong believer in thinking about your day before you jump into it. I start each day in prayer before I leave my bed. I find that I am able to keep a positive disposition throughout my day regardless of what happens as a result. Years ago, Oprah Winfrey featured a book on her show called Simple Abundance; A Daybook of Comfort and Joy by Sarah Ban Breathnach. In it, she provides daily lessons about the concept of peace, joy and gratitude. This is a great book that I have used over 10 years to stay centered. If you start your day thinking about what you are grateful for it’s much easier to keep perspective when things go wrong. Running a small business involves 10 or more jobs at one time. Do yourself a favor, slow down and mediate on something before each day starts.

Know your cash flow situation– Cash is King! You have to know what your cash flow is, every single day, or you could lose your business. You should run your business based on a 30-day cash flow projection. You need to know how much money is coming in and what money needs to go out daily. You also need to stay on top of what invoices need to go out, and what the payment procedure is for each of your clients. Start collections procedures the first day after your money is past due. Never hesitate to call your client or the bank to get clarity about your cash flow situation. No matter what accounting software you use or what bookkeeper you hire, as the owner of the business you must know your cash flow situation every day.

Set aside 1 hour a day for business development– Work on getting in front of someone who may buy your product or service every day. Sales is the life’s blood of your business. Each day you must conduct business development activities in order to stay ahead of the competition. You can make calls, write emails, send thank you notes, Connect with new connections on LinkedIn, search for conferences and trade shows to attend, develop signature content, use social media to build relationships as lead generating activities. You need to make it a priority each day to spend at least one hour generating new business.

Follow-up with 3 three existing connections– People do business with people they like, know and trust, but you must nurture those relationships. Reach out to existing customers you haven’t spoken too in a while. Give three recommendations on LinkedIn. Send a lengthy personal note on Facebook.  Make three calls or send follow-up notes with an article your read in the New York Times or Washington Post over the weekend. You will spend a longer time on these contacts, but they are further down your sales funnel, so they are worth it.  

Get your plan together for the next day– One of my other favorite books is the 7 Minute Difference by Allyson Lewis. In this book, she says you need to do 5 things before 11am each day and anything else is a bonus. I love this and I do this every day. I make my list of the five things at the end of each day so I have a game plan for my day each morning. This, by the way, is also how I sleep well at night.

Do you have any suggestions for the daily priorities of a small business owner?

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 bestselling author of Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works. 

 

 

 

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6 Things Oprah Winfrey Taught Us About Business

By 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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On The Road To Oprah’s Own Network

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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