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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, 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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4 Things All Entrepreneurs Should Do On LinkedIn

by Melinda Emerson on May 31, 2011 in Ask Smallbizlady, Become Your Own Boss Tips, Before You Start, Branding & Marketing, Business Inspiration, featured, Grow Your Business, Social Media, Solopreneurs, Women in Business, Your Small Business

Linked in Logo

LinkedIn is important! 75% of all professionals in the US have a LinkedIn profile, which means if you want to do business you must have one too. LinkedIn is powerful tool that you can use to promote yourself if you are an individual consultant or a company with 2 or more employees. Here are my four tips that all entrepreneurs should do on LinkedIn.

Make sure your profile is 100%: If you do not have a headshot, please add a profession one. Typically, business owners who are not 100% lack recommendations. Look at your connections and ask at least three people to write why they love doing business with you. To make it easy, write the recommendation for them. This might be rough, but go ahead and do it. Actually, you should get in habit of asking anyone you interact with to give to a recommendation. I have over 47 recommendations and counting, you can never have too many.

Know Your Keywords: Your keywords should be spread across your profile. First your description of who you are should include keywords that your target customer would use to find you on the internet. Your summary and skills should also be peppered with keywords. This will also help you appear higher in Linkedin searches for experts.

Join LinkedIn Groups: You can join up to 50 groups on LinkedIn. You should join at least 10 groups that have your target customer in the group. You should have a strategy for how you will engage and attract members of the group to connect with you. Many groups allow fellow members to connect even though you do not know each other.
Answer Questions: One of best ways to standout in LinkedIn is to answer questions. It should become a part of your social media routine. Try to answer two to three questions a week and see how many new connections you will make for your business.

LinkedIn is a powerful tool and a great way to connect with decision makers. Make sure you are in the best position to promote yourself and your business online. Do you have any other LinkedIn secrets to promote a small business? For more tips on how start or grow your small business subscribe to Melinda Emerson’s blog http://www.succeedasyourownboss.com.

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Social Media Customer Service: Don’t Fake It

by Melinda Emerson on February 8, 2011 in Customer Service, Guest Articles, Social Media

In recent years, social media has effectively taken everything that we know about customer service, and turned it upside-down. Online, there is no place for your company to hide. If you leave your customers unsatisfied, you are pretty much guaranteed to see a rant or rave about it on a social media network somewhere. Consumers are quick to embrace this power that they have received- the power of mass exposure. And this can leave you and your company feeling, well, massively exposed.

One of the most valuable things that you can do as a business owner today is to develop a specific and detailed social media customer relationship management program in order to foster a positive rapport with your customers. There are plenty of small business owners out there who stumble across negative threads about their business, and do not know how to conduct themselves in response, nor do they have a plan for how to handle this type of negative exposure. If nothing is said, the problem is guaranteed to escalate. If the business owner poses as a “fake” customer to post a contradicting positive comment, the falsehood almost always shines through. However, with a plan in place, you can quickly change a customer’s negative experience into a positive one without taking on a false identity.

Oftentimes, what fuels a customer’s discontent in the first place is a company’s lack of response. For example, if a customer writes to a shoe company that he bought a pair of leather shoes that disintegrated the first day he wore them, and receives no response, it is likely that he will post a negative thread about the company on a public forum. Noteworthy is the fact that the likely focus of his thread will be the simple lack of response and lack of customer care from the shoe company, not the lack of quality in the shoes. The relationship that your company establishes with a customer is equally as important, if not more, than the product itself.

When your social media team responds to a customer service issue, such as a negative comment posted on your Facebook page, you must have a specific plan in place. First, ensure that your company has access to each customer’s contact information. A designated customer service representative should contact this customer personally in order to assist him or her. A social media customer service representative should always leave the customer with his or her own email address and personal phone extension. While social media allows your company to be available and accessible to consumers, you should never doubt the power of personal one-on-one contact.

When aligning your social media customer relationship management plan, insure that your customer service representative will follow through appropriately with the customer. For example, if a replacement pair of leather shoes has been sent to the customer, the representative should call the customer back in 2 weeks to make sure this pair has not disintegrated. Insuring that the same CSR checks back with the customer is necessary. We have all had the experience of being transferred to 4 different reps on a customer service line before, and it’s an experience that leaves you steamy under the collar, isn’t it? Insuring that a customer is able to correspond with one dedicated representative allows him or her to establish a comfortable, trusted relationship with your company. Enable your customer to provide a satisfied testimonial once you have corrected the problem, and you will see that the level of attentiveness you have provided is reflected in the customer’s new feedback.

As you continue developing and refining your social media customer service methods, make sure that your plan evolves as social media evolves. For example, if you use Twitter as a forum for customer’s to post feedback to your company, how do you handle the fact that Twitter is always on? Will you designate customer response hours in your bio? Will you designate a CSR to Tweet when the CSRs will be offline for the day? Allow your methods to evolve and develop over time in order to provide the best customer service possible.

Debra Leitl is the Mentor in Residence at eMentormarketing.com. You can find her on twitter @MentorMarketing. Her specialty is interactive marketing with a focus on ecommerce and online marketing strategy.

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How to Use SCORE to Get Free Small Business Help

by Melinda Emerson on November 4, 2010 in Q & A Interviews, SmallBizChat

Each week as Smallbizlady, I conduct interviews with small business experts on my weekly Twitter talk show #SmallBizChat. This is excerpted from my #SmallBizChat interview with Amy Larrimore @SCOREphila Amy is the Vice President of Technology for SCORE, a free business mentoring program, and nonprofit association with 364 offices across the country. Amy is a seasoned entrepreneur and an active volunteer with SCORE’s Philadelphia chapter. For more information http://www.score.org

Smallbizlady: What is the SCORE Association?

Amy Larrimore: We are the Counselors to America’s Small Business. We’re a nonprofit organization dedicated to the success of small business. For the last 45 years, SCORE’s volunteer business experts have served hundreds of thousands of entrepreneurs out of their 350 offices across the nation. We are a resource partner with the U.S. Small Business Administration (SBA) and provide one on one mentoring as a free and confidential public service.

Smallbizlady: How are you affiliated with SCORE?

Amy Larrimore: I have volunteered for SCORE for over three years as a business counselor and workshop leader. I also serve as the District Vice President of Information Systems and Technology. My District includes 13 chapters with over 400 members in PA and DE. We are the largest district in the nation, providing over 15,000 services a year. I also serve the Philadelphia Chapter as the Vice Chair of Technology. I am blown away at the impact that we have on small businesses.

Smallbizlady: What kind of services does SCORE offer to businesses?

Amy Larrimore: Our main product is one on one business mentoring. SCORE’s experienced business mentors provide general business advice on everything from how to write a business plan, manage cash flow and grow an existing business. We can offer expertise to seed, startup and established businesses in everything from customer relations, hiring practices, using the Internet for business, PR advertising, home-based businesses, business financials, getting funded, and many other areas. We sit down with you and walk you through your business planning and strategy and financials and make sure you know how to implement it cheaply and effectively. SCORE has almost 13,000 mentors – our expertise is really endless.

Smallbizlady: Tell me about the training and workshops you provide?

Amy Larrimore: We offer business training in almost every topic in which we mentor. Many chapters and the national organization offer webinars too. Every chapter offers some kind of business planning series and introduction to the fundamentals of a business plan. Our workshops vary from chapter to chapter because they are dependent upon the local community needs and our volunteer expertise. Workshop and seminars fees generally range from $30-$70, depending on hand-outs, meals and program length. @SCOREPhila we offer everything from business planning to financial modeling to technology training. We were even lucky enough to have a seminar taught by @SmallBizLady herself!

Smallbizlady: How is SCORE funded?

Amy Larrimore: SCORE National is made possible by a federal grant and receives significant corporate support from companies like American Express Open, Palo Alto Software, Google, HP. While our operating costs are low because we’re almost completely staffed by volunteers, every chapter needs to supplement that basic stipend with corporate, personal and community donations. Luckily for us, we’re a great cause that people can really get behind – helping small businesses grow! We are registered as a 501©3 and all donations are fully deductible. @SCOREPhila we manage our online donations with a startup company, @GiveLoop that built a technology to do it.

Smallbizlady: Let’s be honest – I’ve always heard of SCORE as just a bunch of retired guys?

Amy Larrimore: I always say, retirement is a state of finance, not of age! But seriously, yes, when SCORE was founded in 1964, our congressional charter indicated that we were the Senior Core of Retired Executives. However, a few years back that was changed by Congress to reflect the current needs of small business. Now we are the Counselors to America’s Small Business. Our volunteer base is made up of small business owners, corporate executives, subject matter experts, pro bono service providers like lawyers or accountants and of course, some retired executives.

Smallbizlady: What qualifies SCORE volunteers to give business advice?

Amy Larrimore: The key qualification SCORE mentors bring is real-world business experience. These business mentors have specific industry and general business expertise because we’ve been there, done that. I, for example, volunteer for SCORE because I’ve run two businesses (currently on my third) and I want to help give back some of the lessons and opportunities I’ve learned. All SCORE volunteers receive specialized training offered by the association and we have to take a series of tests to be released to counsel one on one.

Smallbizlady: Are business secrets safe with SCORE?

Amy Larrimore: Yes! All SCORE mentors sign a code of ethics before beginning any volunteer time. In this contract (with the federal government mind you) we agree to no solicitation for business, No third party representation, No gifts or cash accepted, High professional standards, non disclosure and non compete with client information. Client information remains totally confidential and each year, SCORE mentors reaffirm their commitment in writing.

Smallbizlady: Are all volunteers required to do face to face coaching with SCORE?

Amy Larrimore: Great question! No, we’re not required to do face to face coaching only. Many volunteers prefer this but it’s by no means required. SCORE can use volunteer help in teaching workshops, providing administrative or advisory support. We also can use volunteers interested in teaching webinars, doing email counseling, managing our social media, helping us balance the books, doing outreach on our behalf, helping maintain our websites. Many hands do light work. If you’re interested in volunteering, please check out the website.

Smallbizlady: What if you are not happy with your SCORE advisor can you ask for another resource?

Amy Larrimore: Of course! Our goal is to make a good match so we’ll work with you as hard as we need to find a good fit.

Smallbizlady: How can I contact SCORE for business assistance?

Amy Larrimore: Call 1-800/634-0245 to find the SCORE office near you. Or, find SCORE online by visiting www.score.org. You can search for the nearest location by city and state or zip code. You can find @SCOREPhila at http://www.scorephila.org/. Our chapter also offers a website featuring Philadelphia local business events and our mailing list at http://www.phillybizevents.com. We also maintain a delicious page at http://www.delicious.com/scorephila which contains lots of useful links and recommended.

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

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

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

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Effective Social Media Selling

by Melinda Emerson on March 11, 2010 in SmallBizChat

This week’s Small Biz Chat interview is with small business expert Malika Duke. Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wed on Twitter from 8-9pm ET; follow @SmallBizChat for weekly details. This post is excerpted from my recent interview with Malika Duke, @BizSavvyMom, who is an expert in lead attraction and conversion on the Internet. She coaches her clients on how to master the web as a marketing tool. Formerly a floundering network marketer, Malika has attracted an impressive global client and in less than 18 months has become a sought after passion-to-profits marketing coach and consultant. If you want help to create and implement your “Sell-ucation” process click here http://www.savvybusinessmom.com/online-leads-who-buy-alot.

SmallBizlady: What is the best way to sell online?

Malika Duke: By not trying to impress your prospect through hype, flashiness, or sugar coating problems with your product or service. Instead you are informing them of their options and only looking for a mutually beneficial relationship.

SmallBizlady: What is sell-ucation?

Malika Duke: It’s a way of selling through education and direct response. The objective is to create prospect education systems where customers can learn who you are, want you have, who it is for and how you can help them. Prospective clients are always looking to make an informed buying decision and the law of reciprocity compels them to buy from you. It will also to increase buyer confidence, reduce buyer remorse and inspire your prospective buyers to take immediate action.

SmallBizlady: How do you stand-out from the noise selling online?

Malika Duke: Now a days, regardless of what you are selling, prospects are bombarded with “buy this now” messages and they are scratching their heads thinking, “Why?”. Why this and not that, yours and not hers? People are just tired of it. In this economy buyers want to be smart with where they invest their money so you;ve got to earn it by giving value.

SmallBizlady: What are some of the benefits of using sell-ucation?

Malika Duke: If done well, you can generate sales easier, because there’s less buyer confusion. This process answers objections succinctly so sales come easier and refunds drop dramatically.

SmallBizlady: Are their any drawbacks from using this method of selling online?
Malika Duke: This selling method takes time, so if you are the type of business person that just wants people to show up and buy this is not for you. (And that never really happens!) You have got to put the time into creating the systems and they will always need tweaking based on the feedback from your prospective clients. It requires that you create content that will do the selling and educating. It also requires some real creativity which may be graphic design, an instruction designer or programmer.

SmallBizlady: What happens to small businesses that do not educate their online customers?

Malika Duke: Businesses that don’t educate their buyers will continue to see a steady decline in sales as more and more of their competitors implement these simple systems and strategies. They will find it harder to bring in new customers and generate repeat business for years to come.

SmallBizlady: Can any small business use this selling method?

Malika Duke: All kinds of businesses will benefit from taking the time to put education materials together. Professional service companies of all types lawyers, dentists, coaches, network marketers on and on. Retail businesses can benefit too ncluding jewelers, car washes, restaurants, etc.

Smallbizlady: What needs to be in place before you create your selling campaign?

Malika Duke: You need to have a well organized sales process or sales funnel in place. Sell-ucation is the rejection free way to initiate relationships with prospective and current partners and clients, but there must be a “what next” element inside the rest of your sales funnel.

Smallbizlady: Can you automate this selling campaign?

Malika Duke: You can and should use a combination of live one time events and prerecorded/written content to get the most out of your sales funnel. You should also create maximum value for your buyers and would-be buyers with that content. Parts of it, such as email delivery of content, will be automated or can be leveraged through outsourcing delegating and direct response marketing.

SmallBizlady: Some examples of sell-ucation in use today in mainstream media?

Malika Duke: Don’t laugh but, Infomercials are set up to exactly do this. There’s a reason they all follow the exact same formula and they all sell like crazy! They grab the attention of their ideal audience quickly, state the problem, offer their solution, show proof with a demonstration and testimonials and then tell you how you can order!

SmallBizlady: What are the best mediums to attract your prospects and leads with this process?

Malika Duke: You can use your website or blog and other social media as well. Use any medium you have at your disposal now and start educating while selling today!

SmallBizlady: How can this be implemented in your business immediately?

Malika Duke: Start by brainstorming with your prospects about their hot button issues. Then create content that helps those who still have a qualified interest to “connect the dots” to your product/service as the solution.

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

Melinda Emerson, known to many as “SmallBizLady,” is a Veteran Entrepreneur, Small Business Coach and Social Media Strategist who hosts #SmallBizChat weekly on Twitter for emerging entrepreneurs. Her first book Become Your Own Boss in 12 Months is out in March 2010.

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Best of Melinda Emerson’s #SmallBizChat Interviews in 2009

by Melinda Emerson on December 28, 2009 in Business Inspiration, How to Start, Mompreneurs, My Recommendations, Pink Slip Entrepreneurs, SmallBizChat, Solopreneurs, Telesummit, Women in Business, Your Small Business

My interview with Sherri Garrity on how to quit a job to start a business:

Sherri is the founder of Corporate Fugitive. Her company provides business coaching to aspiring entrepreneurs and business owners who want to go from overwhelmed to extraordinary. In 2007, she walked away from a successful marketing career to start her own consulting business. Contact her on Twitter @SherriGarrity or at http://www.corporatefugitive.com

http://succeedasyourownboss.com/09/2009/how-to-quit-a-job-to-start-a-business/

My Interview with Christina Katz on how to develop a platform for your small business:

Christina is the author of Get Known Before The Book Deal; Use Your Personal Strengths to Grow an Author Platform and Writer Mama, How to Raise a Writing Career Alongside Your Kids for Writer’s Digest Books. She has written hundreds of articles for national, regional, and online publications, presents at publishing events around the country. Find Christina on Twitter at @thewritermama or at: http://christinakatz.com/

http://succeedasyourownboss.com/12/2009/how-to-develop-a-platform-for-your-small-business/

My Interview with coach Elizabeth Barbour on 5 Ways to Shift from Tired to Inspired in Business:

Elizabeth Barbour’s company is The Inspired Entrepreneur. She is a small business coach who serves as a catalyst for entrepreneurs to take inspired action and create extraordinary results in business and in life. Her four core values are community, celebration, spirituality and self-care. Find Elizabeth on Twitter @CoachElizabethB Visit www.ElizabethBarbour.com.

http://succeedasyourownboss.com/09/2009/5-ways-to-shift-from-tired-to-inspired-in-business/

#SmallBizChat Live Telesummit Recap (Part 1)

In November 2009, we presented the first annual #SmallBizChat Live Telesummit. This blog post recapped three key points that each expert shared with us. The four experts highlighted are:

Mike Michalowicz talked about using social media a build your business. Mike aka @TPEntrepreneur is a small business expert and author of Toilet Paper Entrepreneur. For more information, please visit toiletpaperentrepreneur.com

Karyn Greenstreet talked to us about mastermind group best practices. Karyn aka @kgreenstreet is a self-employment expert who runs thesuccessalliance.com. Her website has all the resources a business owner needs to start or run a mastermind group.

Dr. Mel Gravely talked about how to retool your business in tough times. Mel aka @melgravely is the founder of the Institute for Entrepreneurial Thinking, the leading think tank on issues related to business development. For more information, please visit entrethinking.com .

Tim Berry talked about Managing Cash Flow in a Tough Economy. Tim aka @Timberry is president and founder of Palo Alto Software the makers of Business Plan Pro, and founder of bplans.com. He’s the author of The Plan-As-You-Go Business Plan, Entrepreneur Press.

http://succeedasyourownboss.com/11/2009/smallbizchat-live-telesummit-recap-part-1/

#SmallBizChat Live Telesummit Recap (Part 2)

Here’s the recap of three key points that each expert shared with us.

Allyson Lewis talked to us about getting more out of your day as a business owner. Allyson is a business coach whose focus is on productivity. Her book, The 7 Minute Difference, grew out of the workshops she has been teaching for years. Contact her on Twitter at @allyson7minutes or visit Seven Minutes Inc.

Michelle Villalobos talked to us about turning contacts into contracts. Michelle is a business turnaround expert who teaches busy entrepreneurs how to improve their sales. Reach her on Twitter at @mivi or visit MichelleVillalobos.com.

Paul B. Brown spoke with us about becoming a published author to build your business. Paul is a long-time contributor to the New York Times and author of more than two dozen books, including the international best-seller Customers for Life. He is the author of Publishing Confidential: What it really takes to land a non-fiction book deal.

Lisa D. Sparks taught us how to become email marketing rock stars. Lisa is an email marketing expert with nine years of experience developing and implementing marketing campaigns for small business owners. Reach her on Twitter @lisadsparks or visit lisadsparks.com

http://succeedasyourownboss.com/11/2009/smallbizchat-live-telesummit-recap-part-2/

We have had a great time doing #smallbizchat interviews weekly, and we hope you enjoy these recaps. If these interviews have been helpful join us every Wed 8-9 ET for #smallbizchat on Twitter. We have lots if great small business resources coming in 2010. The goal of #smallbizchat is to end small business failure and reduce the learning curve of small biz owners as they start a grow their small business.

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

WANT TO USE THIS ARTICLE IN YOUR EZINE, E-NEWSLETTER OR WEB SITE? You may, as long as you include this complete blurb with it:

Melinda Emerson “SmallBizLady” is a Veteran Entrepreneur, Small Business Expert and Social Media Coach who hosts #smallbizchat on Twitter. #Smallbizchat is the trusted Twitter resource to discuss everything entrepreneurs need to know about launching and running a profitable small business. Melinda’s first book, Become Your Own Boss in 12 months; A Month-By-Month Guide To a Business Than Works! is scheduled to be released by Adams Media in March 2010.

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#SmallBizChat Live Telesummit Recap (Part 2)

by Melinda Emerson on November 13, 2009 in Before You Start, Business Inspiration, Cash Flow & Finance, Grow Your Business, Mompreneurs, Pink Slip Entrepreneurs, SmallBizChat, Social Media, Solopreneurs, Telesummit, Women in Business, Your Small Business

(Dear readers: this is the second part of a two part post. Click here to see part one.)

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. This past week, I presented the first annual #SmallBizChat Live Telesummit. The goal was to give the audience the information to create a new plan for their business in 2010. After nearly a year of communicating in writing on this blog and using Twitter, LinkedIn and Facebook, I wanted to interview small business experts over the phone. I also wanted our followers to have access to some experts who do not use Twitter, but who have fantastic information to share. In today’s blog post, I have prepared a recap of three key points that each expert shared with us.

Allyson Lewis @allyson7minutes is a renowned motivational speaker and business coach whose focus is on productivity, specifically developing systems to change your life. Her book, The Seven Minute Difference, grew out of the workshops she has been teaching for the past five years. For more information, please visit Seven Minutes Inc. Allyson talked to us about getting more out of your day as a business owner.

Here are Allyson’s key takeaways:
1. Use a daily written plan of action. The average adult has a 7 minute attention span. Take 7 minutes to write down your top priorities for the day. Regain your passion by doing what is most important to you.
2. Get 7-8 hours of rest a night. Stop watching late night TV and sacrificing a good night’s rest.
3. She introduced the 5 before 11am rule. Allyson advises us all to make an exhaustive list of everything in our personal lives and business lives that needs to get done. Then she suggests tackling 5 tasks per day before 11am, if that’s too tough try do 5 a week. Just get rid of the list.

Michelle Villalobos @mivi is a business turnaround expert who teaches busy entrepreneurs how to improve their sales approach through networking skills, personal branding and word-of-mouth marketing. For more information, please visit MichelleVillalobos.com. Michelle talked to us about turning contacts into contracts.

Here are Michelle’s key takeaways:
1. Reframe the typical “elevator pitch” into an “elevator teaser.” Instead of a rapid fire 30 second commercial that describes everything you do, find the core of what you do and develop a tagline that encompasses your entire brand (if you can). Done properly, it will elicit the follow-up question, “that sounds interesting, tell me more.” One therapist who helps people get over their fears and anxieties described herself as “the couchless therapist,” which makes people want to know more.
2. Business card etiquette – Avoid “premature solicitation” – which is the act of handing out business cards before even saying hello. When you give someone a business card, it is all about timing. Your goal is to develop rapport and to connect with someone. The time to exchange business cards, more appropriately, is after interaction.
3. Follow-up is important. Michelle suggests offering a free newsletter signup to people in a follow-up email. And in the monthly newsletter have valuable tips and info, all focused on the needs of the customers.

Paul B. Brown is a long-time contributor to the New York Times and author of more than two dozen books, including the international best-seller Customers for Life. He is the author of Publishing Confidential: What it really takes to land a non-fiction book deal. Paul spoke with us about becoming a published author to build your business.

Here are Paul B. Brown’s key takeaways:
1. Once you have book idea, the first thing to do is to try developing an outline for the book, and then writing 2-3 sample chapters.
2. The title of your book should tell people exactly what your book is about. Do not be afraid to talk to potential readers about the book topic to get the right words to use in your book title.
3. A book proposal is what you need to approach an agent or editor to pitch your book. It’s fine to send a query letter first, but if there’s any interest, the next request will be to send a book proposal which is typically a 30-page document. Start working on the proposal before sending query letter, so that you can respond to interest.
Paul made a special offer to Telesummit participants – he will give out a copy of a book proposal that sold. You should email Paul at paulbbrown@aol.com and use “Melinda’s Telesummit” in the subject line. His offer ends 11/13/09 at 5pm Eastern.

Lisa D. Sparks @lisadsparks is an email marketing expert with nine years of experience developing and implementing marketing solutions for small business owners. Lisa taught us how to become email marketing rock stars. For more information, please visit lisadsparks.com

Here are Lisa’s key takeaways:
1. Typical open rate on email marketing is 22%. Be sure not use language in your emails that are triggers for spam filters such as: FREE, space available, special offer, only today, !!!, and ???
2. You should have multiple ways to build your email list for your business. Using an email sign-up for your newsletter/blog on multiple pages of your website is one strategy. You can also offer a special report in exchange for an email address. Conducting free monthly conference calls is another great technique to build your list. When you go to a networking function, be sure to ask someone who gives you a business card if you can add them to your mailing list.
3. Develop an editorial calendar for your e-newsletters and all of your auto-responders. Consider writing a year’s worth of e-newsletters all at once. Email should not be the only way that you communicate with your list – using video and/or audio and are nice ways to break it up.

If you missed the SmallBizChat Live Telesummit, do not worry! We are editing and packaging the calls to make them available shortly… so stay tuned.

I hope that after you read what these experts had to say, you will be ready to tackle 2010 with some inspiration and new tricks up your sleeve. Being in business is a spiritual marathon. Hang in there.

My co-host Cathy Larkin @cathywebsavvyPR and I presented the 1st Annual SmallBizChat Live Telesummit because it is our mission to end small business failure. We will be back November 2010 to do this again.

Please follow us at @smallbizchat and join us for #SmallBizChat every Wednesday from 8-9pm Eastern on Twitter. #SmallBizChat is the trusted resource on Twitter to discuss everything entrepreneurs need to know about launching and running a profitable small business.

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

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

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Do You Need to Know Your Business?

by Melinda Emerson on November 2, 2009 in Before You Start, Business Inspiration, My Recommendations, Your Small Business

The answer is a resounding YES! If you are starting a business, your business venture should be something in which you have experience or professional training. The only exception to this rule is if you buy into a franchise, but it is especially true if you take over an existing business. Sometimes there are people working in the business who can help provide institutional information about the business, but you need to make sure you trust the people giving you advice. In those cases, the franchise company typically provides some training. (Even so, I would not suggest buying a food franchise if you have never worked in a restaurant.)

Which way?

If you buy an existing business, you must make sure the employees who are left are interested in the business being successful. You also need to quickly determine who you can trust. Many times the original owner stays on in some role for a couple years to make sure there’s a smooth transition, but there is no guarantee that the founder of the business will work hard for you either.

I have a friend who was an investment banker, who wanted to get into the production industry. So, he researched the industry, found out who the major players were, and identified a business he wanted to buy in the Midwest. The company he had his eye on was the top post-production house in that town. He bought it for millions and then sunk millions more into it upgrading all of the equipment to HD and renovating the space so that people would just want to come by and hang out there and, of course, do business. The place was a showpiece. He even threw the industry Christmas party at his business location, so people would see how fabulous the place was on the inside. Everything was steady the first year, but within three years of the purchase, he was out of business.

Why did this happen? He should have had business lined up around the block with a facility like that, but because he didn’t know the industry, and more importantly – the culture of the industry so he made many costly mistakes. Within the first year, three of his top producing editors left the company. It wasn’t about the facility- his talent drove the demand – it was about the specific editor. Then, advertising people followed the editor they wanted to work with. He also rubbed industry people the wrong way by how he went about getting business; advertising creatives never respond favorably to being told what vendors to use. He was friends with the clients of some of his customers and was perceived as trying to get his friends to strong arm their ad agencies into doing business with him. He also turned off other production industry veterans in his town by being so flashy and bold. This is a brilliant guy, who had plenty of resources to run his business, but he had no industry experience. He also bought from a man who he couldn’t trust. The former owner was not invested in his success. He was just looking for a payday. The former owner didn’t help him understand the culture of doing business in the advertising industry. Not knowing how business was done in this industry, cost him his business. He thought – if he built a top-notch state-of-the-art facility, that would increase the business – but it didn’t. Here’s SmallBizlady’s rule about buying an existing business Do not just buy a business because you like their balance sheet.

I hold a degree in Broadcast Production from Virginia Tech. I worked for six years in television as a news producer before I started my multimedia production company. Work for a business like the one you want to start for at least a couple of years before starting on your own. Do not start a daycare center if you have never worked with kids, just because you heard those kinds of businesses make a lot of money.

Research and work in your industry. Your business venture will be a lot more successful if you do.

Do you have any stories to share about starting a business with or without industry experience? Leave a comment and let me know about your business.

WANT TO USE THIS ARTICLE IN YOUR EZINE, E-NEWSLETTER OR WEB SITE? You may, as long as you include this complete blurb with it:

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

Melinda Emerson “SmallBizLady” is a Veteran Entrepreneur, Small Business Expert and Social Media Coach who hosts #SmallBizChat on Twitter. #SmallBizChat is the trusted resource on Twitter to discuss everything entrepreneurs need to know about launching and running a profitable small business. Melinda’s first book, Become Your Own Boss in 12 months! A Month-by-Month Guide to Start a Business that Works! is scheduled to be released by Adams Media in Feb 2010.

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Is Cold Calling DEAD?

by Melinda Emerson on October 29, 2009 in Branding & Marketing, SmallBizChat, Social Media

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wed. on Twitter from 8-9pm ET. This is excerpted from my recent interview with @BradfordShimp. Bradford is a small business expert and the blogger behind All Business Answers. The goal of allbizanswers.com is to answer common business questions, solve the problems that hold businesses back, and show owners how they can build amazing companies. He is actively involved in running a regular small business, as well as several online ventures. His services are available for consulting advice as well as writing content. For more information check out www.allbizanswers.com

Smallbizlady: Is cold calling dead?

Bradford Shimp: No. Many businesses still use it. However, it is losing its effectiveness. Cold calling relies on interruption. Today, people have access to info when they need it, so are less likely to put up with cold calling. People are far less likely to trust someone based on a cold call, and trust is very important.

Smallbizlady: What is the difference between cold and warm calling?

Bradford Shimp: Warm calling is making sales calls after making preliminary contact. Warm calling works best when it is tied to another form of marketing, such as educational or event marketing. Warm calling can refer back to a marketing piece, a form filled out at a trade show, or any form of previous contact.

Smallbizlady: What is permission based marketing?

Bradford Shimp: Permission marketing is when prospects sign up to receive messages from you. Instead of you interrupting their day with messages they don’t care about, you are invited to speak to them. Permission marketing is about having prospect qualify themselves.

Smallbizlady: How do you get permission from someone to market to them?

Bradford Shimp: You need a complete marketing plan to gain a constant stream of permission. The basic concept is to provide something of value in return for getting permission to market further. Permission can include signing up for a newsletter, coming to an event, or requesting more information.

Smallbizlady: Cold calling brings results, why should I stop?

Bradford Shimp: Cold calling is a numbers game. For every yes, you have 10 or more nos that are closed doors. Using permission marketing, you can keep the conversation open, even with people who aren’t buying right now. By building marketing around conversations and education, you can create a steady stream of leads that will grow virally.

Smallbizlady: Why should businesses make the extra effort to educate customers?

Bradford Shimp: By educating, you set yourself up as the expert. This allows you to set the course of the relationship. Educating allows you to “sell without selling.” Prospects thank you for the info and go to you first to buy. When you create educational marketing, you can re-purpose it in many ways.

Smallbizlady: How can Twitter help businesses avoid cold calling?

Bradford Shimp: Twitter is a great place to communicate, attract fans, and build relationships. Your followers have given you permission to talk to them. Just don’t be all sales talk, all the time. From conversations on Twitter, you can move into a sales process. Twitter opens the door to a ton of prospects. It is your job to attract qualified prospects by providing quality content.

Smallbizlady: Why is building an email list the most important thing businesses should be doing?

Bradford Shimp: An email list built on permission is a group of people who have pre-qualified themselves as real prospects. With regular email, you can build trust with prospects and up sell current customers. An email list is a database of prospects you can dip in to when you need to add sales. Put out a good newsletter and good value for signing up, and your email list will continue to grow. Unlike cold calling, you will be able to communicate 1 to many, but with a much larger trust factor.

Smallbizlady: How can we use events to bring in loads of new customers?

Bradford Shimp: Events allow you to invite prospects to something they will value, without directly selling to them. Make your event specific, and it will attract ideal, pre-qualified, prospects. You can build a huge level of trust quickly by providing a quality event. People will be inclined to buy from you.

Smallbizlady: Should a small business have a blog/email newsletter?

Bradford Shimp: Yes. Providing regular content for customers/prospects has several benefits. It will bring in more traffic to your site and provide visitors with instant value. It will educate prospects and build trust, making them inclined to buy from you and trust you. It will make you better at your business. Creating content on your niche will inevitably make you an expert.

Smallbizlady: What kind of conversations should businesses be having with their customers/prospects?

Bradford Shimp: Conversations should be about much more than making the sale. You should seek to educate, to answer questions, to ask questions. The biggest thing is to build trust and provide endless value.

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

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

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

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Are You Ready for 2010?

by Melinda Emerson on October 26, 2009 in Before You Start, Business Inspiration, Grow Your Business, How to Start, Mompreneurs, My Recommendations, Pink Slip Entrepreneurs, SmallBizChat, Solopreneurs, Women in Business, Your Small Business

smallbizchat_live_telesummit The economy is on the rebound, but the nature of business has changed.

Is your small business repositioned for 2010? October and November is the perfect time to start planning for how you will kickoff the New Year. It’s not about making it through the recession; it’s about coming out of this recession with a stronger business.

Every Wednesday #SmallBizChat delivers training on how to start and run a profitable small business via Twitter, now for the first time we we’re delivering what you need over the phone and at your own desktop.

I’m known as @Smallbizlady on Twitter, I have developed a FREE resource to help you develop tools to compete in this new business environment. We’re calling it the SmallBizChat Live Telesummit. To register now, visit http://bit.ly/1TxnoL .

I’ve pulled together top small business experts who are allowing me to pick their brains and share with you invaluable advice that will take your business to the next level.

The Smallbizchat Live Telesummit interviews will take place over four-days the first week of November.

Mark your calendars for Nov 3-6, 2009

Register now http://bit.ly/1TxnoL

Listen and Learn! Each day, we will do live interviews at 1pm and 7pm Eastern Time

We’re going to introduce the challenges and advantages this new business economy has created.

Live Telesummit Nov 3-6, 2009 | register for full program – http://bit.ly/1TxnoL

If you’re already an entrepreneur and you want to improve your business, or if you’re planning to take the leap and want to start out on the right foot, here’s your chance to learn from top experts who are business owners just like you.

Sheer passion and courage aren’t all you need to succeed in today’s business environment. Listen in and you’ll be able to learn key strategies to accelerate your business success.

This is a great time for an aggressive entrepreneur, but you need an action plan for business success in 2010.

Wondering if this is for you?

The old rules of business no longer apply. Do you know how to compete?

Are you tired of dealing with the unpredictable ups and downs of cash flow in your business?

Is the daily stress in your business draining you of the passion you have for your business?

You know you need to be utilizing social media, but don’t know where to start?

Are you ready to invest in learning how to adapt and grow your business while others struggle?

If you’ve answered “Yes” to any of the questions above, sign up today for the 1^st Annual #SmallBizChat Live Telesummit http://bit.ly/1TxnoL!

Telesummit Topics:

Using Social Media to Brand Your Business

Developing a Mastermind Group

Retooling Your Business in Tough Times

Strategic Cash Flow Management

Growing Your Network

Getting More Out of Each Business Day

How to Author a Book to Grow Your Brand

How to Be an Email-Marketing “ROCK STAR!”

MEET THE EXPERTS

Melinda Emerson “Smallbizlady” is your host for the #SmallBizChat Live TeleSummit! Melinda is a seasoned entrepreneur, professional speaker, and small business coach. Her areas of expertise include small business start-up, business development and social media strategy. Melinda hosts #Smallbizchat, a weekly talk show on Twitter. #Smallbizchat is the trusted resource on Twitter to discuss everything entrepreneurs need to know about launching and running a profitable small business. Melinda has been featured on NBC Nightly News and in the Wall Street Journal, U.S. News and World Report and Black Enterprise. Melinda publishes a resource blog www.succeedasyourownboss.com and has several special reports including 44 Things To Do Before You Go Into Business and The 12 Cardinal Sins of Small Business-and How to Avoid Them! Melinda’s first book Become Your Own Boss in 12 months; A Month-by-Month Guide to Start a Business that Works!” will be released in February 2010 by Adams Media. For more information, please visit melindaemerson.com

Mike Michalowicz is the Toilet Paper Entrepreneur. Mike Michalowicz has a driving passion for entrepreneurialism. Michalowicz wrote The Toilet Paper Entrepreneur with the sole purpose of giving first time entrepreneurs the information they need to grow their concepts into industry leaders. Michalowicz has successfully launched three multimillion-dollar companies. His most recent venture, Obsidian Launch LLC, partners exclusively with first-time entrepreneurs to launch their ideas into niche industry leaders. For more information, please visit toiletpaperentrepreneur.com

Dr. Melvin Gravely, II, is the founder of the Institute for Entrepreneurial Thinking, the leading think tank on issues related to business development. The Institute is nationally known for providing thought leadership, and industry changing research on issues at the intersection of business and race. The Institute is a trusted advisor to Chambers of Commerce, major corporations and community leaders across the nation. Gravely is the author of seven books including The Lost Art of Entrepreneurship, When Black and White Make Green, and his latest Getting to the Next Level. He has been featured in many national publications including Black Enterprise Magazine, Entrepreneur Magazine, and American City Business Journals. After ten successful years working for a large corporation, he co-founded a civil engineering firm and grew it into a multimillion dollar company. Dr. Gravely speaks and writes on various topics related to entrepreneurial thinking and business development. For more information, please visit entrethinking.com

Michelle Villalobos is a Business turnaround expert who teaches busy entrepreneurs how to improve their sales approach through networking skills, personal branding and word-of-mouth marketing. As a 14-year sales & marketing veteran, she first made her mark in the publishing industry. Michelle is known for never turning down a sales challenge, she has helped numerous small businesses significantly increase their revenues. She conducts seminars, brainstorming sessions, strategic planning workshops, roundtables and other programs that “educate, entertain and engage” by helping businesses learn to build revenues, through effective sales, networking and word-of-mouth techniques Michelle holds an undergraduate degree from Dartmouth College, and an MBA from the University of Miami and is a life-long devotee of Sharpies. You’ll have to listen in to find out the deal with that. For more information, please visit MichelleVillalobos.com

Paul B. Brown is a long-time contributor to the New York Times. Paul is the author of more than two dozen books, including the international best-seller Customers for Life. A former writer and editor of Business Week, Financial World, Forbes, and Inc., Brown has “ghosted” books for several of the nation’s most success business executives. The latest example: Obstacles Welcome: How to Turn Adversity into Advantage in Business and in Life, written with Ralph de la Vega, president of AT&T. Even more relevant for our purposes he is the author of Publishing Confidential: What it really takes to land a non-fiction book deal. Brown was trained as a lawyer, but he asks that you do not hold that against him.

Lisa D. Sparks is a marketing expert with nine years of experience developing and implementing marketing communications solutions for small and medium sized businesses. A small business owner herself, Lisa uses her expertise to teach small organizations in South Florida how to use technology to maximize the power of relationship marketing. She is experienced in providing guidance, instruction, and comprehensive planning advice for the development, growth, and expansion of new and existing businesses. In 2007, Lisa won the Florida State Star Award as the top small business analyst in Florida.

Karyn Greenstreet is a small business coach and a mastermind group facilitator, and the owner of The Success Alliance, a website devoted to helping mastermind group facilitators start and grow their own mastermind groups. She has been creating and running these groups since 1994 and is the author of How to Create a For-Profit Mastermind Group. She also teaches a series of classes on starting and running mastermind groups. Karyn holds a B.S. in Business Administration and Management, and is a certified Adult Education Trainer. She has postgraduate work in Business Administration and Computer Systems, and is graduate of CoachU. She has spoken at numerous national on business-building topics and action planning. Visit her website TheSuccessAlliance.com

Tim Berry, is president and founder of Palo Alto Software, founder of bplans.com, and a co-founder of Borland International. He built Palo Alto Software from zero to 40 employees and 70% market share without outside investment. He is a Stanford MBA and taught starting a business at the University of Oregon. He’s the conceptual author of Business Plan Pro, author of The Plan-As-You-Go Business Plan, Entrepreneur Press. Find Tim on twitter at @TimBerry. “I’ve seen startups and small business from multiple views. I’ve had the good years and bad years. My wife and I had three mortgages and $65,000 of credit card debt at one very low point, which we survived, but I really don’t recommend. I’ve consulted with startups on bringing in venture capital, and angel investors, and business loans, and friends and family.” He’ll be talking about Cash Flow in a Tough Economy.

Allyson Lewis is a renowned motivational speaker and business coach who focuses on productivity, specifically developing systems to change your life. Allyson has spent the last 22 years teaching concrete yet actionable ideas to business leaders all over the country. Her book, The Seven Minute Difference, grew out of the workshops she has been teaching for the last five years. Author of The Million Dollar Car and $250,000 Pizza (Kaplan Publishing, 2000), Allyson is frequently asked to host motivational and educational public workshops throughout the country. She has been a guest on CNN, CNNfn, Bloomberg Information Television, and many other regional radio and television programs. For more information, please visit Seven Minutes Inc.

The nature of business had changed, if you register for this Telesummit you will be equipped to handle anything the economy will throw at you. Don’t delay! Register now Smallbizchat Live TeleSummit http://bit.ly/1TxnoL

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Could Franchising Be For You?

by Melinda Emerson on October 19, 2009 in Branding & Marketing, Business Inspiration, How to Start

Franchising is a great opportunity to take a proven business model that has produced financial success and run it as your own business. While there are many wildly inaccurate statistics about success rates for franchises all over the internet, in general “a franchise is a lower risk proposition than investing in a pure start-up,” according to Joel Libava, the The Franchise King.

One of things that concerns me the most about entrepreneurs who invest in franchises is the belief that, “if you buy a franchise, you cannot fail.” This is fallacy, and is simply not true. Any business can fail. The question is whether your particular franchise opportunity puts you in a better position for success than if you attempted to start a similar business on your own. When you buy into a franchise you are buying a turnkey system. Your continual implementation of that system will determine how successful you will be in business. Starting any business is a risk, but I believe fear of failure is a healthy motivator in business.

Key benefits of a owning a franchise includes – you are buying an established brand, with an instant client base, with operations procedures already in place. You do not have go through the labor intensive task of launching a new brand, establishing procedures, testing and marketing products or establishing a distribution network. However, you must operate your business exactly as the formula describes it and pay a royalty and/or licensing fee to the parent company.

Buying a franchise that is already established can be a lucrative business, but there are drawbacks.

It can be very expensive. In some cases, especially for the marquee franchises, you must be able and willing to purchase three franchises, not just one. This significantly limits the individuals who can afford to buy a franchise.

The price is substantial and the return on investment slow. It can take more than three years to break even and up to five years to turn a profit.

You are at the mercy of the parent marketing department. They will determine the marketing done in your area.

You share in your parent company’s negative publicity. Remember, that issue with lettuce that Taco Bell had two years ago? Well, nobody was eating at any Taco Bell until the restaurant chain cleared up the issue.

The deal with owning a franchise is that the rules/operating procedures must be followed. The uniforms and store set up are set in stone, your main suppliers will be predetermined and franchise fees must be paid. If you think you want to put your personal stamp on your business, a franchise might not be for you.

There are some terrific small franchise opportunities that you can invest in for under $50,000. The following websites are great resources for researching franchise businesses.

www.franchiseopportunities.com

www.franchise.org

www.franchisegator.com

There are so many business opportunities in franchising, that anyone can find one to fit their situation: the key is research. Like with any business, you must take into account the skills you have and the skills you will need to run your franchise. Consider working for another franchise before purchasing your own. Those franchise agreements are really intense legally binding contracts, so be sure to engage an attorney that specializes in franchise agreements. Here are some other questions to consider:

How much capital do you have to purchase a franchise?

How much capital do you have to actually operate the business?

Will you need financing?

How much training and continued support is offered?

How much control will you want to have over the business?

A franchise opportunity could be the perfect business for you. Once you understand your personal and financial capabilities then you will be able to find the franchise business that suits your situation. Evaluate your net worth, personal skills, the market you are interested in, and be sure to talk to other franchise operators to research the best franchise business for you.

Do you know of any additional franchising pros and cons? I want to hear why you think franchising is the way to go to start a business.

WANT TO USE THIS ARTICLE IN YOUR EZINE, E-NEWSLETTER OR WEB SITE? You may, as long as you include this complete blurb with it:

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

Melinda Emerson, “SmallBizLady”, is a Veteran Entrepreneur, Small Business Expert and Social Media Coach who hosts #SmallBizChat on Twitter. #Smallbizchat is the trusted resource on Twitter to discuss everything entrepreneurs need to know about launching and running a profitable small business. Melinda’s first book, Become Your Own Boss in 12 Months! A Month-by-Month Guide to Start a Business that Works! is scheduled to be released by Adams Media in Feb 2010.

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What Business Should I Start?

by Melinda Emerson on March 7, 2009 in Before You Start

As a small business coach, not a week goes by that someone doesn’t say, “I need your help, I know I am meant to start a business, but I don’t know what kind of business I should start”. Now, I specialize in helping people map out a plan once they decide to start a business, but I decided to develop a system to help people get clear about their business prospects.

Some entrepreneurs are born; they are the types that just can’t work for other people. Some entrepreneurs are made through years of working soul-sapping jobs, and finally one day they know they can make more money working for themselves. Some grow up in a family business and it just falls into their lap or they are strong armed into it by their parents. Others are forced into business ownership after months of frustration looking for a job after getting laid off. Regardless of how you make your decision to join the ranks of the self-employed the next question is – what business should you start?

There are many paths, but it really boils down to four options:

a) Start a business organically from scratch

b) Buy an existing business

c) Buy a franchise

d) Create an internet business

If you want to start a business organically, you will need to develop your business idea and be clear that you have viable market. In other words, you need to be clear about who is buying and why, to see if you can identify the right business for you.

5 ways to find a business idea

What are 5 things you are passionate about?

What is item you feel strongest about?
Can you develop 10 ways to produce, promote and sell this as a business? (If you are selling a retail product or a manufacturing business concept select your top product from the list)
Make a list of 10 action steps to move forward with developing your product.
If you are selling professional services or an online business, make a list of 10 action steps you can take to move forward with your business.

This basic system will help you get clear about whether an interest or hobby can be turned into a business. Let’s break down the steps using my coaching business as an example. This is a professional service business.

Step 1. Five Passions

singing
love nurturing others in business
products for toddler children
power networking
writing

Step 2. Select the #1 Passion

Love nurturing others in business = small business coach

Step 3. Develop 10 products and or promotional ideas for your business concept

10 products and or promotional ideas for start-ups and people transitioning from corporate to business ownership

Develop one-on-one/group coaching packages
Be Your Own Boss Book & Self-Study Workbook
10 Things You Must Never Forget in Business Audio CD
Life Planning Journal
Host @Smallbizchat weekly on Twitter
Develop workshop series
How to Transition from Corporate to Business Ownership,
How to Recession Proof Your Business,
What is Your 30 Second Commerical?
Mompreneurs: Managing it all without the guilt.

Step 4. Develop 10 action steps to pursue this business

Hire a coach to work with me so I can understand what it is like to be coached.

Read any books and take any courses that can increase my expertise
Hire a graphic designer thru e-lance.com to develop my logo, website and online brand
Join groups on Linkedin and Facebook that target small businesses
Join Twitter and develop a signature brand on twitter
Develop an outline for my book and start working on sample chapters
Purchase books that explain how to get a non-fiction book deal
Investigate courses at CoachU and other business certification organizations
Gain membership to the National Speakers Association
Develop a special report “44 Things to Do Before Going Into Business” as a free giveaway/download to start building my list online.

Once you have your action steps, try to take a step every day or at least one a week. If you start right away, you’ll be more likely to follow through with your business plans. Keep in mind that some of your steps will take a little time to execute if done well. The internet is a great resource for research. If you do something every day to start your business, you will be that much closer to making it your full-time job.

Repeat this system as many times as you need to find a business that is the right business for you. You can also drill down from 10 action items to 20 or 30 if you really have a well-thought out idea. The key to any business is understanding who’s buying and why they are buying from you. Once you’ve chosen your focus area make a list of 10 niche areas that you can specialize in with your service or product. The 5 ways to find a business idea is a great way to start thinking about how your idea can become a successful business.

If this system helps you, please let me know with a comment below.

WANT TO USE THIS ARTICLE IN YOUR EZINE, E-NEWSLETTER OR WEB SITE? You may, as long as you include this complete blurb with it:

Melinda Emerson is a Veteran Entrepreneur, Small Business Expert and Social Media Coach who hosts #smallbizchat on Twitter. #Smallbizchat is the trusted Twitter resource to discuss everything entrepreneurs need to know about launching and running a profitable small business. Melinda’s first book, Be Your Own Boss! How to Quit Your Job and Start Your Own Business 12 Months or Less! is scheduled to be released by Adams Media in early 2010.

If you’re ready to start or grow your small business visit www.succeedasyourownboss.com and subscribe to Melinda Emerson’s blog.

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