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No Network, No Business

By Melinda Emerson on November 16, 2009 in Become Your Own Boss Tips, Business Inspiration, Grow Your Business, How to Start, Mompreneurs, My Recommendations, Pink Slip Entrepreneurs, Solopreneurs, Starting A Small Business, Your Small Business

The following is an excerpt from my forthcoming book: Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business that Works! Scheduled to be released by Adams Media in February 2010.

In small business, your network is key is to your business success, but it is astonishing to me why people with no friends will start a business. I believe it’s best to plan 12 months before you quit your job to start a business. In that year, one the most important things you need to do is build and reinforce your personal network. Why? Because, people do business with people they like and people they know. Hopefully, you can be both to your clients. There are many businesses like yours, but one thing that separates your company from others is who you know and how you know them.

An entrepreneur’s most valuable skill is the ability to make friends and influence people.

Look for Ways to Meet People Encounters with people you don’t know are important. Look at it this way: You don’t meet strangers; you meet friends you just don’t know yet. There are a few rules to this kind of networking. Always invite the person to talk about themselves first. After all, the more you know about them, the better you can tailor your thirty-second pitch. Be ready with your short commercial about your business. Consider this your opportunity to make a first impression.

The 30 Second Commercial Before you hit the street extolling the virtues of your great product or service, it is crucial that you have a clear thirty-second commercial (also known as “the elevator pitch”) for your business. When someone asks you what you do, you need to have a crisp and memorable response that makes it clear what business you are in and how you solve problems for your customers. Your commercial is intended for very brief, chance encounters. It is important because it helps you make a lasting first impression. You use it to showcase your professionalism, the benefits you provide, and your expertise. The goal is to capture your target’s attention and interest so that you can engage them in a more substantial and meaningful way. A strong thirty-second commercial will help you create better networking connections, and it can draw people to you. People will seek you out if you present yourself and your business professionally.

It is very important that you sound excited about what you do when you talk to people. You are always selling the business and yourself. Be careful never to tie up someone more than few minutes unless the contact seems to want to prolong the conversation.

Trains, planes, and buses are a great way to meet other business people. I only take the Amtrak Acela express train, which is how most business travelers in the Northeast ride. When I ride the train, I look for an open seat next to someone who looks like a businessperson. You just never know who could be a high-ranking executive, so I keep my mind and my options open. I try to make a friend or at least to learn something from someone during the ride. Most of the time, I accomplish both goals.

A Friendly Conversation Can Always Turn into a Potential Business Lead Learn how to strike up a conversation with anyone. Giving a compliment is a great way to start. Look for something you have in common such as kids, sports, tired of being in line—anything you can thing of to make a personal connection with the person you are talking with. Whenever you attend networking functions or, for that matter, go anywhere, you should always have business cards. When it comes to networking, you never know where you might meet someone who can help you grow your business, so it pays to always be prepared with plenty of business cards. It’s like that old saying goes “never leave home without them.”

Build Personal Network When I first moved to Philadelphia, I put my nose to the grindstone for a few years to build up my career, then I turned my attention to meeting people. I did three things. First, I joined the Urban League to do volunteer work, socialize, and participate in professional development activities. Then I found a church home. The third thing I did was to reach out to the alumni association of my alma mater, Virginia Tech. These three associations paid off in spades years later when I started my business. My first customers came from those associations.

The Cocktail Hour Before Any Event is the Event! Be early for the reception so you can circulate. Once you sit down to dinner, the only people you can network with are the other nine people at your table. An accountant once told me that the rule of thumb is that you should go through 500 business cards roughly every two months when you first start a business. I even carry business cards to the hair salon because you never know who’s in the shampoo bowl next to you.

The Follow-Up The way to build relationships is through continued contact. It is essential to follow up within two weeks after meeting with a potential business contact. You can do this in multiple ways. The quickest and easiest way is e-mail. I prefer to send a handwritten note on my company stationery, since I feel this adds a personal touch. You can have note card stationary printed with your company logo on it.

Leave me a comment if you have any other good networking tips or stories to share.

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 month! A Month-by-Month Guide to a Business that Works! will be released by Adams Media in Feb 2010.

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

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#SmallBizChat Live Telesummit Recap (Part 2)

By Melinda Emerson on November 13, 2009 in Business Inspiration, Cash Flow & Finance, Grow Your Business, Mompreneurs, Pink Slip Entrepreneurs, SmallBizChat, Social Media, Solopreneurs, Starting A Small Business, 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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#SmallBizChat Live Telesummit Recap (Part 1)

By Melinda Emerson on November 9, 2009 in Business Inspiration, Cash Flow & Finance, Grow Your Business, Mompreneurs, Pink Slip Entrepreneurs, SmallBizChat, Social Media, Solopreneurs, Telesummit, Your Small Business

(Dear readers: this is the first part of a two part post about SmallBizChat Live Telesummit. Part two will post on Friday, November 13, 2009.)

Mike Michalowicz @TPEntrepreneur kicked off our Telesummit. Mike is small business expert who is known as the Toilet Paper Entrepreneur. For more information, please visit toiletpaperentrepreneur.com Michalowicz talked about using social media a build your business.

Here are Mike’s key takeaways:
1. Use a 4 to 1 ratio in your content posted on social media sites. Only promote yourself once in every four times you communicate. Always seek to add value to your audience.
2. Take a non-traditional position to stand out among other experts in your field.
3. Blogging and participating in forums is a great strategy, but using Google ad words can be effective as well.

Karyn Greenstreet @kgreenstreet was our second guest. She’s 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. Karyn talked to us about mastermind group best practices.

Here are Karyn Greenstreet’s key takeaways:
1. Being involved in a mastermind group is something successful entrepreneurs do.
2. Think about the other skills you need in your business when you want to recruit members to start a mastermind group. Mastermind groups are typically four-to-ten people.
3. Develop set procedures for how your group will operate and get all participants to sign the agreement. Using an agreement is one of the best ways to get participants to commit to the terms and then fully participate.

Dr. Mel Gravely @melgravely kicked off day two of the Telesummit. Mel 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 Mel talked about how to retool your business in tough times.

Here are Dr. Gravely’s key takeaways:
1. It is more important than ever to focus on your niche market and your value proposition. Gone are the days of the generalist consultant.
2. Do not launch any new marketing initiative that you can’t afford to keep up for at least a year.
3. Business shouldn’t always be a struggle. If you have been struggling in your business for more than four years, and it’s never been profitable; it might be time to move on from that business or that business model.

Tim Berry @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. Tim talked about Managing Cash Flow in a Tough Economy.

Here are Berry’s key takeaways:
1. Make sure you know how your clients process invoices. When you can, build a relationship with someone in accounts payable. When evaluating a deal with a major corporation, make sure you’ve got enough cash reserves to wait on your money, or don’t do the deal.
2. Would you walk a city-block blindfolded? Well that’s what is it like to run a business without up-to-date financial statements. You must have a current statement of cash flow, profit & loss statement, and a balance sheet every month.
3. Do not use your line-of-credit to finance marketing efforts to generate sales. Use you line of credit of finance business you have already won.

(NOTE: This is part one of the #SmallBizChat Live Telesummit recap. Part two will post live on Friday, November 13, 2009.)

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.

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 Business Inspiration, My Recommendations, Starting A Small Business, 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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Are You Ready for 2010?

By Melinda Emerson on October 26, 2009 in Business Inspiration, Grow Your Business, How to Start, Mompreneurs, My Recommendations, Pink Slip Entrepreneurs, SmallBizChat, Solopreneurs, Starting A Small Business, 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.

Comments { 5 }

The New Rules About Blogging for Money

By Melinda Emerson on October 12, 2009 in Grow Your Business, Mompreneurs, Social Media, Solopreneurs, Women in Business, Your Small Business

Lady Justice

As of December 1, 2009 the Federal Trade Commission is going to require Bloggers, Podcasters and video producers – any producer of consumer-generated content online to disclose any paid endorsements to their followers and audience they communicate with online. These new rules have the potential to change everyone’s online habits. Here’s what you need to know:

If you receive even a small fee in exchange for reviewing a particular product or writing a blog post about it – this new ruling applies to you. Under the FTC’s new rules, all bloggers who blog for dollars will have to disclose that they are receiving a fee for their blog post. In addition, bloggers will also need to disclose any gifts they receive such as books, product samples or even toothpaste. All merchandise now counts as compensation.

Many bloggers already disclose when they are being paid for reviews, but this could get tricky for some blogs who use sponsors, and particularly for some corporations such as Walmart, Office Max etc. who use mom bloggers to target women customers. It will be interesting to see how these relationships will change.

Transparency is what you need to have in social media anyway, but now it’s on another level. Prominent users of social networks such as Twitter will need to pay attention to the FTC’s new rules. If you want to give a business some praise – do it, but if you work there, you need to tell people. If you want to get on Twitter and talk about how great a new book or product is…make sure people know it’s your product or that you are the author.

When commenting on blogs and in forums, please do not pretend to be someone else particularly if you are leaving a negative comment. If you post comments in an online forum that undercuts your competitor without making it clear who you are, you have broken the rules.

The FTC is not trying to fine mombloggers! Repeat offenders may end up being punished, but the new regulations are really just trying to regulate how advertisers pay for endorsements and reviews.

So Blogger Beware!

What you do think about the new FTC regulations? Should you really have to disclose a free book?

Additional resources on the new FTC regulations:

http://www.whitneyhoffman.com/2009/10/06/the-new-ftc-guidelines-on-endorsements-by-bloggers/

http://www.nytimes.com/2009/10/06/business/media/06adco.html

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.

Comments { 7 }

10 Ways to Get Your Blog to Shine

By Melinda Emerson on October 5, 2009 in 10 Things Lists, Branding & Marketing, Social Media, Your Small Business

This is the last post of a three part series on blogging for business. We started out with how to get started blogging. Then we tackled the strategy for setting up your blog as your only website or having two separate websites. Now we are finally talking about what to do to get your blog noticed. Here’s 10 Tips that I swear by for building a successful blog platform and getting your blog to shine. The best way to get to the front page of Google and other search engines is to have the exact phrase a person is searching for used on your blog. The same words you use in the title also need to be somewhere in your text.

1. Be strategic about your headline.

2. Use a branded header. Image is everything. People need to know what your blog is about at first click. Use a colorful header that features your logo, a professional photo and your tag line. Your tag line is the most important element of your header. It should tell your reader exactly what to expect from your blog.

3. Explain your blog. On the front page of your blog — tell people more information about what you can do for them. Be sure and include keywords, your name and any branded materials you have such as a book title. Explain who your target audience is and the credentials that make you an expert.

4. Create a conversation. Use a conversational tone when you write. Do not just give information; let your personality shine through. People love well told stories. They also like to learn from other people’s mistakes. Don’t be afraid to take an unpopular position or be brutally honest. Be your authentic self. Tell your readers what you really think.

5. Be original. Teach ‘em some new stuff and be entertaining. Your audience wants to find something that doesn’t exist anywhere else on the web. David Meerman Scott author of World Wide Rave says people want to share in something remarkable. Do you have any concepts or systems that you have developed? I developed the Emerson Planning System which is a new approach to business planning. I wrote my book Become Your Own Boss in 12 Months (Adams Media, Feb 2010) based on the system. I use elements of it to write many blog posts. That’s my signature content, what’s yours?

6. Be a participant. If you want your ideas to spread or your blog posts to be retweeted you need to spend some time building relationships online. Getting involved in the online communities where people actively share information in your specialty area. It is also a great way to have comments left on your blog. I spent six months on Twitter building relationships, answers questions and supporting others before I launched my blog. It made a big difference.

7. Avoid fluff. In order to have people talk about your ideas, resist the temptation to hype your products and services. Create something interesting that will be talked about online. Readers have many choices available, and they’ll quickly move on from a blog with unnecessary or annoying commentary. Keep your writing focused. If you leave your readers wanting more, and they’ll come back for more.

8. Use multimedia to break things up. Add podcasts and video posts to add depth to your blog. Sometimes when I am interviewed on an internet radio show, I will turn the interview link into a blog post by adding a tip list highlighting key takeaways from the interview. The interview host will appreciate the additional exposure for sure. Keep those video posts short, no more than 3 minutes please. Trust me – less is more.

9. Comment on blogs. Leave comments on other people’s blogs. Doing this will help you get a quality backlink. Blogs need backlinks. They help increase your PageRank and widen your blog’s visibility. The plugin displays a link to your last post along with your picture and your name using RSS feeds. Also use the CommentLuv Plugin on your blog.

10. Always think of your audience first. Whenever you start thinking of a blog topic make sure the information will be helpful to your target audience. Provide information, analysis, interviews and viewpoints on your blog. When you give your audience what they want and need, they will tell others and post your information to social media sites.

For more information on getting your blog to shine join us this wednesday 8-9pm ET on 10/7 for #smallbizchat on Twitter where my guest will be Anita Campbell @smallbiztrends who will be talking about how to take your blog to the next level.

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.

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Developing a Blog vs. Website Strategy

By Melinda Emerson on September 28, 2009 in Branding & Marketing, How to Start, Social Media, Your Small Business

Blog vs. Website in Business

This is the second of a three part series on blogging for business. It is such an essential issue for small businesses today that I felt it important to dedicate some real time to the topic. The first article focused on building a small business blog. Today’s piece investigates the decision to have a separate website verses using a blog as your website.

It used to be that all you had to worry about was having a website, now you need a blog and a complete social media footprint to go along with it to reflect the many ways that your customers are using the internet. Whether you have a professional services business, a brick-and-mortar retail establishment or an online business. Your business needs a website as the anchor of your online marketing! All websites should include a static home page that has been designed and written to clearly explain what you have on offer to people who visit your site. The question then becomes what kind of website do you need?

One of the most common questions I get about building an online brand is whether a small business should:

a) Have a website and a separate blog

b) Have a blog as the company website

c) Import a blog into an existing website.

I polled my @smallbizlady followers on http://www.twitter.com/ for advice on this: Here’s what a few had to say:

“With the right web team, you can power the blog within the website using WordPress.”

”Unless one can add value and maintain a blog long-term, I suggest just developing a website and importing dynamic content like Twitter feeds.”

“If your goal is heavy on the commercial side then go with a web site. If you want to create a community, go with a blog.”

Let’s define the basic business website terms: A blog is an online journal written by one person, or a team of staff people focused on a particular area of interest. Blogs are typically written in a conversational style and updated 2-3 times a week minimum. Search engines love blogs because of the fresh content. If possible, it’s best to have the blog as part of your website. Then, the fresh content on the blog attracts the search engines to your entire website.

Blog-based websites are cost effective, search engine friendly and can have both static information (like a traditional website) and dynamic information by way of blog posts. It is also very easy to update a blog without hiring a web designer every time you make a change. Cathy Larkin of WebSavvyPR.com says, “Blog posts are a way for service businesses to build trust in their brand. A blog, done well, gives you and your staff a way to showcase your expertise in a way that makes people think of you when it comes time to buy.”

A website is a collection of related web pages, images, videos or other digital assets that are available under a specific domain name on the World Wide Web. Websites are essentially online brochures designed to provide information, build a contact list, make money, and raise awareness of a small business. Information on a traditional website typically does not change very often. The static information on a typical website includes 5-7 pages: home page, about us, contact us, services/products, in the news, and an online store.

If you are just getting started, a self-hosted blog is the best option to help promote your business online. If you are starting from scratch, I suggest using WordPress.org, with your own hosting package. What I like about WordPress is that is designed to have both static pages and blog pages. Go for a hosting company that has a one button install for WordPress.org blogs. Customizing a WordPress blog can be tricky, but once its rolling along it’s pretty much maintenance-free.

If you already have a website, adding a blog section to it can be a way to update your online presence, and bring more traffic to your existing site. It’s best to have the blog as part of your website, but this isn’t always possible. “You may have started a blog a long time ago on a free hosted site such as blogger or typepad and may not want to go through what it takes to transfer a hosted blog to your website. In this case, you should link your blog from your website (and vice versa) and add frequent new content to your website, such as articles, white papers and special reports to provide fresh content on the website,” says internet marketing consultant, Phyllis Zimbler Miller, Millermosaicllc.com. The only downside is you will need to engage a professional web designer to upgrade your website to import your blog, and add the additional content unless you learn to do it yourself.

When would you use a blog and website separately? If your blog is targeted to a very specific niche market and your website is targeted to a larger market, two sites make sense. Some advocate creating a completely separate blog and stand alone website if you are an infopreneur. This works for authors, coaches, professional speakers etc. (a micro-site designed to sell each book, for example). I use Melindaemerson.com and Succeedasyourownboss.com.

To get up and running quickly, I advocate hiring someone to help you set up your blog. You will have an expert to help you build the most professional presentation, create a branded banner, customize your blog with a theme, and show you the ropes.

No matter what method you decide to go with, it is very important to have a static home page on website and/or blog where what you offer is clear the moment someone lands on your page. The headline, banner graphic, and the text all work together to keep that unique visitor on your site.

Next week, the final part of the blogging for business series: 10 Ways To Get Your Blog To Shine.

Part 1 http://succeedasyourownboss.com/09/2009/how-to-build-a-small-business-blog/

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 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 early 2010.

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

Comments { 11 }

How To Build A Small Business Blog

By Melinda Emerson on September 21, 2009 in Branding & Marketing, How to Start, Social Media

Building a business blog.

This is a first of a three part series on blogging for business. It is such an important issue for small businesses today that I felt it important to dedicate some real time to the topic. The series will focus on getting started at blogging, the decision to have a blog and a website or just a blog, and 10 tips to get your blog noticed.

Great blogs stand out because the writer knows who their reader is and has great content. Getting your blog noticed takes strategy – planning, marketing know-how and good writing skills. You can use pay-per click advertising to get your brand known, but developing a successful blog is really the best way to get noticed on the web.

Let’s look at some of the basics of creating a small business blog:

Know who you are talking to. Don’t create a blog for you– create a blog for your readers and potential clients. You should not write a single word on a blog until you have researched your target audience and conducted a trends analysis on that audience. It’s not hard, just do it. Know who they are and what they need to know. Christina Katz, author of Get Known Before the Book Deal says you need to identify your niche market, and then break down your target into several submarkets. Then use your blog as a service to your target markets.

Create an editorial calendar. I am a former TV producer, so old habits die hard. It’s important to build an editorial calendar to keep track of your content. It will also help you brainstorm topics in advance. Read articles and blogs in your industry to get ideas. Sometimes I read articles, and just a sentence from it can seed an idea for a blog post. Avoid boring your readers to death with the same song, come at a subject from a different angle. A well-kept calendar will also keep your blog sharp, timely, and informative.

Start developing content 3-6 months before you start blogging. Good blogs have good content. Take the time to write well to make sure your content is excellent. Also, there will be days that you just do not have time to write. It’s best to develop a mini archive of articles that you can use as blog posts when you do not have the time to write a fresh piece. It is always good to get a timely piece that can tie-in a current event, but do yourself a favor – plan ahead.

Determine your blog strategy. Determine your blog publishing schedule. The key is to remain as consistent as possible. Some people post no more than two-to-three posts a week, but there are bloggers that put out new posts everyday. I post twice a week on Mondays and Thursdays. While there is no specific formula for how many times a week you should post, just remember that readers appreciate consistency.

Choose the right blog platform. There are so many choices out there to establish your blog. WordPress.org has a huge community, with many support resources including featured plug-ins and many customization options. You may need some help with set-up, but after that, posting is an easy process. My blog is a customized WordPress blog. If you don’t want to buy a domain name and hosting package WordPress.com, Typepad.com and Blogger.com might be just what you need. If you are doing business, I suggest spending the $150.00 and personally branding your blog site.

Develop a picture library. Adding an image to your blog posts adds a huge amount of depth to your blog. Ahead of time, pull images that might work for your blog posts. There are free sites such as www.Photobucket.com, www.openphoto.net, www.unprofound.com You can also use www.Flickr.com, but use the advanced search page and check “only search within Creative Commons-licensed content” to avoid copyright issues. There are also low cost photo sites such as www.istockphoto.com. Pulling pictures can be time consuming, so if you start out with a library of 50 or so, you’ll save time in the long run.

Write great headlines. Your headline can make or break your post, so choose your words carefully. It helps to think about what your reader would type into a search engine to find your information. Use active voice and as few words as possible. Throwing in key words is good too. You can also use lists, numbers, how-tos, compelling questions, and famous names to draw people in. It doesn’t matter how good your blog content is if no one will click on the link to read it. Would you read an article titled “Growing Your Online Marketing through Blogging” or one titled “Blogging for Business”? If you’re struggling with headlines, look at a few popular blogs to see how they do it.

With these tips, you’ll speak to your target audience and attract a wealth of new readers. If any of these points sound difficult or time consuming, remember, you don’t have to do it all alone. Get help from a social media coach or marketing consultant that can help you build your blog and position yourself as an industry expert in no time.

Did I miss any tips? Leave me a comment and let me know your secrets to blogging success.

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 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 early 2010.

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

Comments { 5 }

Financial Help for Growing Inner City Businesses

By Melinda Emerson on September 15, 2009 in Cash Flow & Finance, Grow Your Business

Are you aware of all your financial options to support your company’s growth?

Could your business benefit from:

Discovering the full range of financial options available to grow your businesses
Building and strengthening relationships with investors
Obtaining one-on-one feedback from seasoned investors and consultants
Optimizing your business growth strategy
Promoting your company products or services

The Inner City Capital Connections training program might be your answer. ICCC New York 2009 features seasoned professionals who break down what you should know about debt, equity and other financing options for your small business.

Inner City Capital Connections (ICCC) is a free national program that identifies and prepares a select group of entrepreneurs searching for finance to support their business growth. Unlike other capital raising events, ICCC is unique in its focus on inner city entrepreneurs. Since the inaugural event in 2005, nearly 150 inner city companies and 115 equity providers have been selected to participate. These companies have raised more than $140 million in capital.

On October 20, 2009, a full day training session will take place in New York City to prepare entrepreneurs to meet with potential investors. The program culminates with an event on November 18-19th in New York that gives entrepreneurs the opportunity to connect one-on-one with investors also.

Any for-profit corporations, partnerships or proprietorships headquartered in or having 51% or more of their physical operations in an economically distressed urban area of the US that have revenues of $2 million or more in 2008 should apply for this program.

The 2009 Inner City Capital Connections (ICCC) program is co-sponsored by the U.S. Small Business Administration, the Initiative for a Competitive Inner City and Bank of America.

For more information: www.icic.org

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 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 early 2010.

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

Comments { 3 }

Finding The Money To Start Your Small Business

By Melinda Emerson on September 14, 2009 in Become Your Own Boss Tips, Cash Flow & Finance, Starting A Small Business

The following is an excerpt from my forthcoming book: Become Your Own Boss in 12 months or Less! A Month-by-Month Guide to Start a Business that Works! Scheduled to be released by Adams Media in February 2010.

If you are ready to take the leap into entrepreneurship, you must get really focused on your finances. It will be a real test to get back to only the bare necessities. Are you willing to reduce your lifestyle down to just basic living expenses? Most of the time, the initial capital to start your small business will come from you. Here are 8 tips you may not have considered to find money to start your small business.

Pay your mortgage twice a month to reduce payments. It is the accelerated payment program. Your mortgage company or a third party vendor offers this service for a low or no fee. The money will be automatically debited from your bank account. An extra mortgage payment is made each year; you can reduce a 30 year mortgage to a 22 year mortgage.

Go cash only. If you don’t have the cash, you don’t buy it. If you stop using your check card or credit cards to pay for everything, it’s much easier to stick to a weekly budget for yourself.

Avoid 90 days, 6 months or 1 year – same as cash deals. If you do not have the money the day you are making the purchase, chances are you will not have it in 90-days, six-months or a year from when it’s due. Keep in mind if you can’t pay, the interest rate is hefty and is compounded back to your original purchase date.

Cook at home and bring your leftovers to work for lunch. You’ll save money, get a healthier meal, and spend more quality time with your family. Look for free recipes online and start cooking!

Keep driving your car. Drive your car until it stops running. As a new business owner, you can no longer afford to upgrade your vehicle every two to three years. Buy a reliable car and take care of it, so you can ride without a car payment as long as you can. (I still do this! My car is five years old.) Try to plan your days so that you can do lots of major errands on the same day to minimize gas and parking expenses.

Grab a sweater. Turning down your thermostat five degrees and keeping a throw blanket nearby to save money on heating costs. The American Council for an Energy-Efficient Economy (ACEEE) says that for every degree you lower your thermostat, you’ll save about 3% of your heating bill. Putting your thermostat on a timer during the workday or while you are asleep will have an even greater effect on your heating bills.

Turn down the hot water heater. Heating water is the third-largest portion of the typical family’s energy bill. Heat water to 115-120 degrees to reduce power consumption.

Cut back on trips to Starbucks, Dunkin’ Donuts, Dairy Queen and Blockbuster. The money you spend each week on unnecessary extras can really add up. Treat yourself only once in a while. You’ll be shocked how the money you save will add up.

When you get started in business, you need three pools of money – an emergency savings account for your household, 12 months of budget to run your household, and 12 months of operating expenses to start your business. If you employ these simple money management tools, you will have the money you need in no time.

Comment on this blog if you have any other money saving tips to share.

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 resource 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 or Less! A Month-by-Month Guide to Start a Business that Works! is scheduled to be released by Adams Media in early 2010.

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

Comments { 0 }

5 Ways to Shift from Tired to Inspired in Business

By Melinda Emerson on September 10, 2009 in Grow Your Business, SmallBizChat

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 Elizabeth Barbour @CoachElizabethB on Twitter. Elizabeth’s company is The Inspired Entrepreneur. She is a small business coaching expert who serves as a catalyst for entrepreneurs to take inspired action and create extraordinary results in business and in life. A professional coach for nine years, Elizabeth has worked with thousands of people to shift from tired to inspired in business and in life! Her four core values are community, celebration, spirituality and self-care. Visit www.ElizabethBarbour.com for details!

SmallBizLady: Why do entrepreneurs get so tired?

CoachElizabethB : We’re excited! We have big ideas! We multi-task all the time so we juggle a lot of balls in the air and often drop some. Often, we are solopreneurs so we are wearing many hats which gets overwhelming. In this economy, some people are struggling so there is a bit of fear that motivates us to do more than we normally would. That’s exhausting.

SmallBizLady: What are the warning signs that you are tired?

CoachElizabethB: LOL! So many. Some more obvious than others. Losing things. Forgetting Appointments. Always being late. Cloudy Thinking. Can’t fall asleep at night. We get overtired and then over stimulated and keep a to-do list by our beds! We stop taking care of ourselves – no exercise, poor food choices, no down time. Just go-go-go 24-7. Stress. Getting cranky or snippy. We call it “having the growlies” in our house! Watch out if someone has the growlies! J

SmallBizLady: So how can we get inspired? I understand you have 5 Tips to Shift from Tired to Inspired. What’s the first tip?

CoachElizabethB: Tip #1 to Get Inspired: Practice Self Care. Like the financial gurus suggest – don’t spend all your money and then save what’s left over – start by paying yourself first! Decrease tolerations and things that drain your energy. Let go of habits and behaviors that don’t serve you or your biz. Do more of what you love to do. Go for a hike. Read. Swim. Nap. Dance. A 30 min break can really shift your energy in a positive way. Establish your connection to God, self and others. When you are plugged in spiritually, you live an inspired life. Louise Hay suggests using this sentence “I love myself therefore…” if you said that several times a day, you’d always make good choices.

SmallBizLady: What’s the 2^nd tip to shift from Tired to Inspired?

CoachElizabethB: Tip #2 to Get Inspired: Learn, Study, Grow! Read books. Take classes. Get a mentor. Go to workshops & conferences. Attend all the FREE events you can find. My top 3 Biz books: The E-Myth, Attracting Perfect Customers, One Page Business Plan. My top 3 Personal books: Sabbath – Wayne Muller, You Can Heal Your Life – Louise Hay, Ask and It Is Given – Abraham-Hicks

SmallBizLady: What’s the 3^rd tip to shift from Tired to Inspired?

CoachElizabethB: Tip #3 to Get Inspired: Build Intentional Community. Assess your current community – who feeds you? Who drains you? Who do you want to spend more time with? Who are you spending your time with? Successful people surround themselves with successful people. They mastermind. They go to workshops and personal development seminars. They hire the right people to work for them. Think about it – Tiger Woods – what does he do? He plays GOLF – that’s it! He does what he does best. And he surrounds himself with a community that supports him at being his best.

SmallBizLady: What’s the 4^th tip to shift from Tired to Inspired?

CoachElizabethB: Tip #4 to Get Inspired: Create Systems for Success. Look at every aspect of your life. Not just your biz! Assess Your Business: Is your desk organized? Are your computer files easy to navigate? What’s your communication like with your clients? Assess Your Home: is bill paying easy? Do you have a central scheduling place for meetings, vacations, etc. do you have a place to hang your KEYS when you walk in the door? Systems make life easier because there’s a plan that you don’t have to think about.

SmallBizLady: What’s the 5^th tip to shift from Tired to Inspired?

CoachElizabethB: Tip #5 to Get Inspired: Work ON your business, not just in it. This is what Michael Gerber teaches in the E-Myth. If you have not read it, you must! Working on your business means to embrace being an Entrepreneur with a Capital E! When you work IN the business, you’re serving clients and doing daily tasks. When you work ON the business, you’re Visioning, Goal Setting, Big Picture Thinking, Networking. That’s where the inspiration comes in!

SmallBizLady: These are great tips but what if I still need help?

CoachElizabethB: Get help and perspective: hire a coach, work with a mastermind group, talk to your dog, meditate or pray. It’s important to identify the areas you need help and then find the appropriate resource (person, book, website, etc) Also be sure to schedule doses of inspiration. Sounds silly. But if it’s not in your schedule, it’s not in your life.

SmallBizLady: What’s your advice for brand new entrepreneurs?

CoachElizabethB: Network, network, network! Build your community so that you feel supported and you have access to resources. Join groups in your community to get the word out and to not feel isolated. Get a mentor or hire a coach. Someone to guide you on your journey and help you stay focused. Remember what Calvin & Hobbes said? “It’s only work unless someone makes you do it!” If you’re an entrepreneur, you’ve chosen this. So have fun with it. Don’t create another J-O-B for yourself!

SmallBizLady: Who and what inspires you?

CoachElizabethB: My Favorite Spiritual Teachers: Sonia Choquette, Wayne Dyer, Caroline Myss, Jerry & Esther Hicks. My Favorite Business Gurus: Michel Gerber, Stephen Covery, Harv Eker, Walt Disney! J I get inspired by being in community, spending time in nature and having intellectual and spiritual conversations. Life is so much fun and I love to explore and learn constantly! Being a coach is the perfect fit for me.

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

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

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It’s September; Time to Re-commit to Your Business!

By Melinda Emerson on September 1, 2009 in Become Your Own Boss Tips, Grow Your Business

#SmallBizTip 1

September is great time to re-commit, remove, renew & rebrand your business.

September is the last quarter of the business calendar year. Realistically, you have 14 weeks left to accomplish your 2009business goals. The last two weeks of the year are pretty much a wash.

Re-commit to your Top 3 goals

We all have business goals for the year that we have still not accomplished. Make a new list of your goals, and get down the business of getting them done. Be honest, take ownership, acknowledge where you are. Evaluate whether it’s a realistic goal and reflect on the reason(s) why you haven’t fulfilled it already. Build an action plan and get an accountability partner. It’s all about moving forward–don’t repeat history.

Remove The Clutter

You cannot do your best work in a cluttered work environment. Perform a “waste walk” around your office and your house. Get rid of stuff with no home or that you do not use. It feels good to work in a clean space. Cluttered spaces are draining. Clean your work space at least once a month.

Renew Your Skills

Do not run your business with skills that are out-of-date. Make it a point to examine your skills, invest in yourself and read a book you would never buy. Always challenge yourself to grow. My motto is “Grow yourself to grow your business.”

Rebrand Your Business

Use the fourth quarter to rebuild your pipeline by rebranding your business. Fall is perfect time to develop a new direct mail piece, email blast, or e-newsletter to contact your current and potential customers

What goal do you still need to accomplish?

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 resource on Twitter to discuss everything entrepreneurs need to know about launching and running a profitable small business. Melinda’s first book, Be 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 early 2010.

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

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