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How To Go from Idea to Store Shelves QA Interview with Jen Groover

by Melinda Emerson, #SmallBizChat on November 3, 2011 in Grow Your Business, Q & A Interviews, SmallBizChat

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wednesday on Twitter from 8-9pm ET. This is excerpted from my recent interview with @Jengroover. She’s a top business expert and has been tagged by Success Magazine as a “One-Woman Brand” and named a leading “Serial Entrepreneur” by Entrepreneur Magazine. Jen Groover’s signature product the butler bag has revolutionized the handbag industry. www.butlerbag.com Her has quickly become synonymous with innovation, entrepreneurship and evolution. She has gone from guest-hosting spots on QVC to linking deals with some of the industry’s biggest heavyweights. For more information www.jengroover.com

Smallbizlady: Once I have a product idea what are the first things I need to do?

Jen Groover: Once you have an idea you need to check a few things:

Analyze the market and see if you see the idea already out there?
If so, why is yours different, or how can you push yourself to make it more unique than your original concept
If it was tried before was it successful? If not, when? And why?

Smallbizlady: What is intellectual property and why is it important in product development?

Jen Groover: Once you have answers for those questions, you will need to find an Intellectual Property attorney to verify legally what is already out there. Even if you don’t see something “in the market” it may be something in development and you don’t want to risk getting in trouble for patent or trademark infringement.

Intellectual Property is basically creative ideas that can be protected so that you can “own a space” in a category of business or develop enough brand equity that you can license your idea, which basically gives someone the right to use your patent and possibly trademarks to increase supply of your products and distribution channels while paying you’re a royalty to do so. You need to consult with an Intellectual Property attorney (very specific niche of training) in order to get proper representation.

Once an attorney verifies it is safe to move ahead, you can conserve costs by filing a provisional patent (if it is a patentable item) which buys you a year to begin product development and we as brand development.

Smallbizlady: Once I file for protection what do I do next?

Jen Groover: Once you file for protection whether it be a patent, trademark, copyright, etc, you will need something to be protecting the brand equity you are about to build. You begin product development by making a prototype. A prototype is an example of what your product should look like. You may need several iterations of the in order to perfect how you want your product to look and function. While you are clarifying that, you should also be devising your plan on what type of brand you want; for example is it a high-end luxury brand of a daily household affordable type brand. This will help you identify more closely the type of materials used to finalize your prototype. Because more often than not, many different grades of materials can be used but the type of brand you want will dictate that.

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Are You Ready To Finish the Year With a Bang?

by Melinda Emerson on October 31, 2011 in Branding & Marketing, Business Inspiration, Grow Your Business, How to Start

This past weekend I conducted my last BYOB2011 Workshop in my national tour. I held the last one in Philadelphia, my hometown. The focus of the tour was on three things; How to Become Your Own Boss, How to Develop a Killer Marketing Plan and How to build a Social Media Brand. For the last year I have travelling the country teaching small business owners and would-be entrepreneurs the Emerson Planning System, How to align their marketing and sales activities and how to leverage social media to grow their businesses. I thought it would be helpful to highlight what I have been teaching. Here are 7 tips to finish the 2011 with a bang, and go into 2012 with a plan for success.

It’s Time to Update Your life plan. The cornerstone of the Emerson Planning System is to develop a life plan and a vision board. Your business goals and your personal goals must align or you could lose your business and your family. Once you have a life plan create a vision board. You can use the board as personal motivation to remind you why your work so hard. My life plan is taped on the wall near my computer monitor so that I have a daily reminder of my big picture goals.

BYOB also stands for Be Your Own Bank. Your ability to save has everything to do with your ability to start a business. The nature of business has changed and you will need to fund your own enterprise. The most you can borrow is a microloan for $25K, most people can life off that and launch a business, so the money needs to come from somewhere. I suggest you look in the right or left pocket.

90 percent of Success is Self-confidence. If you don’t believe in your business no one else will. Fake it until you make it! Look yourself in the mirror (like I do sometimes), and say Girl, you are doing IT!!! Most business problems are not so well hidden personal problems. Learn to compartmentalize your drama and stress and get your work done. You must stay focused.

Be an Agent of Convenience. Small businesses who are still getting big business in this economy are making it easy for their customers to say yes. They solve problems before the customers can say ouch. They understand industry trends. They use metrics heavily. They know the value they bring to the table. They can accept all forms of currency. They brainstorm with their clients for free because they care. What kind of agent are you?

Plan Sales in 30 day Increments. Your biggest concern should be how much money you need to make in the next 30 days. Once you breakdown your sales goals by month, you can easily breakdown how much you need to generate each week. Doing this, will help you get more aggressive about your sales process. You can also plan your marketing activities around lead generation.

Done is Good Enough. Your small business brand will evolve over time. Don’t be one of these people who have not released your new website or newsletter because you are still messing with your logo or layout. No one cares about your logo but you, and you can always revise it later. Just get it out there. Get feedback, and adjust your branded as needed. You are supposed to cringe at the original art work years later.

Harness The Power of Social Media. As a walking social media brand, trust me when I say that social media is the best thing that has happened to small business owners. You must Listen + Engage + Add Value + Promote Others in order to be an Influencer in social media. You must build trust and credibility in order for social media to really work for you. Use social media to speak directly to your target customer.

I am looking forward to teaching more entrepreneurs next year with the BYOB2012 National Tour. The schedule of cities I’ll be coming too in 2012 will be released in December. Stay Tuned. Special Thanks for Corpnet.com and ConstantContact.com for sponsoring this year’s tour.

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

Melinda F. Emerson, known to many as SmallBizLady is one of America’s leading small business experts. As a seasoned entrepreneur, professional speaker, and small business coach, she develops audio, video and written content to fulfill her mission to end small business failure. As CEO of Quintessence Multimedia, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. Forbes Magazine named her #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog http://www.succeedasyourownboss.com Melinda is also bestseller author of Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works.

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5 Things Every Entrepreneur Must Do Each Day

by Melinda Emerson on October 17, 2011 in Business Inspiration, Cash Flow & Finance, featured, Grow Your Business, My Recommendations

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

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

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

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

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

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

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

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

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Time to Start Planning for 2012

by Melinda Emerson on September 26, 2011 in Branding & Marketing, Grow Your Business

The kids are back in school and Halloween is fast approaching. People it is time to start planning your budget and marketing plan for the coming year. 2012 will be here before you know it and you do not want it to sneak up on you. Just like many of your clients are reaching out to you for budget information for 2012, you must be thinking now how you will take your business to higher heights next year. Here are 4 things you must do to plan for 2012.

Meet with your Accountant and/or Tax Preparer. You’ll want to know if there’s anything that needs to be done that could reduce your tax burden before the end of the year. For example: Do you need to purchase any equipment and lease a new delivery van to get it on the book this year. Do you need to delay a payment from a client? You also should review you projected 2011 budget vs. actual budget 2011 for your business, so that you can make sure that you are keeping track of all your costs and adjusting your pricing accordingly.
Create 2012 Budget and Sales Projections. Once you have your meeting with your tax preparer, it’s time to develop your annual budget. At the same time, you should update your sales projections for 2012. The most important thing is to understand how much money you need to make every 30 days to cover your expenses and earn a profit.
Create a New Marketing Plan. Once armed with your sales projections you should use that information to develop your marketing. Now I have written many times on this blog about how to write a marketing plan and business plan, but here is a quick refresher course. You should start with your 30 day sales goal. Then determine what it takes ie. How many calls, email, blog posts and other lead generation activities it takes to close that number of sales each month. Never start a marketing activity you can’t afford to maintain for at least 6 months. Be sure to go back a measure what worked, so that you can eliminate those efforts that didn’t pay off in 2011. (How did that pay-per-click (PPC) ad campaign work for you?
Stay Current with Your Clients. Make sure your business is still relevant to niche. Stay up on the industry trends and the needs of your niche target customer. Sometimes businesses run a course and a competitor or new product comes along and fill the need better than you. Do an annual check meeting face-to-face to make sure you are still giving them what they need. If you run a business that is not based on relationship selling, then offer your customers a free gift to take a short survey to give you the feedback you need to keep being their best resource.

Do you have another tip on preparing your small business for 2012?

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 the #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog www.succeedasyourownboss.com Melinda is also the author of the national bestseller Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works. (Adams Media 2010)

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Do You Have a Holiday Sales Strategy Yet?

by Melinda Emerson on September 14, 2011 in Branding & Marketing, Customer Service, Grow Your Business

Do You Have a Holiday Sales Strategy Yet?

If you sell stuff online or offline, it’s time to create a Christmas holiday strategy. Some businesses make 80% of their profit over the holidays, so you need to make sure that you get your share of the holiday spending. You should be thinking about how you will stock up to fulfill holiday orders at least three months in advance. Preparation is key. You should know the closing dates of magazines so you can get products samples to editors to be included for holiday round up features. You also want to place your orders early for advertising you plan to do on local TV or radio.

Your supplies: Look at what your sales were last year to determine what you need to have in place. Order your packaging, shipping and raw materials in advance. Be sure to order extra too.

Your suppliers: Communicate with your manufacturer and distributers about your holiday plan. Make sure you have a back-up for you main supplier in case they are slammed with other holiday orders. Also keep in mind that your manufacturer may also be using temporary help too, so if you have a product which requires a high level a craftsmanship you may want to order product early, so that your quality does not suffer.

Shipping options: Know when you need to have your items read to ship so that they arrive before Christmas. Figure out your best shipping options. If you belong to a trade organization or association you may qualify for a discount with Fedex or UPS for shipping. You can also set up a USPS click-and-ship account so that they will pickup orders from your home or office.

Contact Your Merchant Account Provider: If you are going to focus on sales over the holidays you need to make sure that your credit card processor provides a daily limit high enough to process all the transactions. If you are fortunate enough to have your product featured in the media or in a magazine you can have huge amount sales in a day which could shut down your shopping cart.

Seasonal Staff: Have your seasonal help and interns lined up in advance. Develop a training program or a step b step guide with pictures so that you brand is not damaged by a temporary worker. You can also enlist your kids, spouse, church members and friends to help get you through the holidays.

Black Friday and Cyber Monday Marketing Strategy: Figure out now what inventory or specials you must push for Black Friday and Cyber Monday. You want to develop special pricing and volume discounts as well. You may even want to develop a pay-per-click campaign (ppc) for the holidays. You’ll want to develop 3-5 different ads so that you can adjust your campaign to the one that is resonating the most with you target audience.

What is your best holiday sales tip?

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 the #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog www.succeedasyourownboss.com Melinda is also the author of the national bestseller Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works. (Adams Media 2010)

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Do you have a Bank or a Banking Relationship?

by Melinda Emerson on August 21, 2011 in Become Your Own Boss Tips, Cash Flow & Finance, Grow Your Business

Many business owners have a bank, but what you need is banking relationship. Entrepreneurs with a bank just make deposits and withdrawals. Business owners with a banking relationship know the branch manager, the business banker and the head teller at the bank they use. The business banker has seen your business plan and is aware of any big contracts or awards that the company has received. The head teller knows you so you can deposit a check as cash based on your reputation. Why is this relationship important?

As a business owner, eventually you will need money. Once you have a track record in business with positive activity on your balance sheet, you can consider approaching a bank for a business line of credit. Business cash flow tends to be uneven; seldom do revenues and expenses arrive in a timely fashion and sometimes a short-term line of credit is just what you need. The problem could be a pre-season inventory purchase, an unexpected machine breakdown, or a delay in getting a payment from a big client. Cultivating a positive relationship with a bank prior to having a need for a line of credit is key. It could mean the difference between success and failure. Here are some points to consider:

Look local. Look first for a local bank that can address your needs. Preferably, deal with a bank with which you already have a personal relationship history. They will have a pretty good idea of who you are and it will give you an edge in creating a new business relationship. Visit from time to time so people know your face. Use these visits to keep senior-level bank personnel up to date on your business activities. If you don’t have a personal bank, look for institutions that focus on loaning to neighborhood or women-owned businesses, etc.
Do your homework. Know your credit history before you go for a loan or line of credit. In a tight credit market, it is essential to keep your credit score as high as possible. Banks will only make loans to clients with pristine credit. Even the SBA will not support your business if your personal credit score is below 650.
Be prepared. Banks will ask a ton of questions about your business plan, loan requirements, collateral and strategy for repayment. When applying for a bank loan, remember that 90 percent of the bank’s decision to loan is based on two numbers: your cash flow and current net worth. The remaining 10 percent of the decision is based on such items as credit history and continued business viability.
The importance of cash flow, defined as the difference between cash receipts and cash payments, it is a key indicator to your bank on how your business is doing. Your goal is to hold on to your cash as long as you can without getting a reputation as a business that does not pay its bills. You must make sure your business always has enough cash to function.
A word of caution. Make the decision to give a personal guarantee for your business loan only after you fully understand all the ramifications. You are now personally liable for the total value of the loan if the business cannot pay, regardless if the business is incorporated, a partnership, or a sole proprietorship. Banks may place liens against your personal residence as part of these guarantees and this can be done without your knowledge. Personal guarantees are a fact of life for the small business owner, so be prepared for them. But be certain you understand the worst-case scenario.
Get Help. Find your local Small Business Development Center (SBDC) or other small business non-profit that has a micro-lending program. Such groups often have loan packaging deals under $50,000 and more importantly, many have special relationships with financial institutions that will work hard to approve clients these groups send them.

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

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

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How to Keep the Sales Engine Rolling

by Melinda Emerson on August 15, 2011 in Branding & Marketing, Grow Your Business

The day-to-day hustle in your business can make you forget to focus your marketing activities on keeping your pipeline filled. To help you reach your monthly sales goals, I have created a list of 7 marketing techniques you should revisit every 90 days. They are designed to ensure that you focus on revenue-generating activities in your small business.

1. Profile Your Customers. Who are your most valuable and profitable customers? How much do they spend with you annually? Do they fit a niche? While it’s imperative that you understand your products and services, it’s even more significant to understand what value your business brings to your customers so you can continue fulfilling their needs. Business issues can change quickly, making vendors potentially interchangeable. Be sure to thank your customers; no one owes you business.

2. Talk With Clients. If your three most important customers were sitting in a room with you, what questions would you ask them? Even with your long-time customers, schedule a quarterly face-to-face meeting to ask for feedback or just to catch up. You must stay on top of their needs and understand any new factors that influence their decision-making processes. Have 7-10 questions to ask, and then make sure you engage them around some personal small talk: kids, vacations, holiday plans, etc. The more personal the relationship, the more that relationship will allow you to obtain critical information and a strong ally.

3. Align Marketing Efforts With Sales Goals. Sales and marketing have to work together in your small business. Even if you are the only salesperson in your business, you must plan your marketing program based on the amount sales leads you need to generate in order to close the required amount of sales per month. If you know you need 500 leads per month in order to close 50 sales, then determine how many phone calls, e-mails, blog posts, Facebook ads and Twitter messages must be made, sent or posted per month to drive the desired traffic. You must establish a sales process and then proactively work your marketing efforts so that they generate the desired results.

4. Eye the Competition. Identify several competitors. Discover what benefits they provide to their current customers. Use their websites to gain insights. Compare your branding, value proposition and pricing. Based on your assessment, develop at least three strategies that you will use to position yourself effectively against them. Always think, “What is my secret sauce?”

5. Create The Win-Win. How can you develop a partnership that can contribute to your bottom line? Always go into a relationship understanding your partner’s “must have” list. It’s always best when you can find a partner who is not a direct competitor. A strong strategic alliance offers many benefits, including reducing risk, sharing costs and improving time to market.

6. Update Your Elevator Pitch. Your most important job as a small business owner is selling yourself and your business. When you can succinctly explain your business, it builds trust, but you shouldn’t use the same pitch forever. From time to time, switch it up a little. Add a brief client list; mention a recent award or media hit. Elevator pitches are designed to draw in your target and keep the dialogue going. Be careful not to talk too long. Offer just enough to get them interested in chatting with you again.

7. Use a Vision Board. All businesses have ups and downs. How you get through the tough days in your business makes a big difference in your productivity. I advise all my coaching clients to develop a life plan and then develop a vision board of your big picture goals for your life. It might include the 10 things you want out of life? Create a visual representation of your life plan. Use cutouts from magazines or clip art pictures–whatever it takes develop a visual symbol of your personal and professional goals. Post this collage to remind yourself why you work so hard. Your vision board will keep you motivated on good days as well as bad ones!

By implementing these marketing techniques, you will be able to evaluate the effectiveness of your marketing strategy and keep yourself motivated to stay on top of your sales processes.

How do you ignite sales in your small business?

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

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

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5 Great Social Media Tools for Small Business Owners

Use the 3 C’s of Social Media: Content, Community, Commerce

by Melinda Emerson on August 8, 2011 in Branding & Marketing, Social Media, Technology

If you are running a small business today you better be using social media marketing. Social media has taken over the internet over the past few years. The great thing for small businesses is it’s all about the one-on-one connection, larger companies no longer have the upper hand. You must listen, engage and then inform. While social has given people a way to stay connected to friends it has also given small business owners the opportunity and power to network strategically. Once you have identified your niche target customer, it is crucial to utilize the three C’s of social media: content, community, and commerce.

Content

The first C to implement in your social media marketing efforts is content. The currency in social media is value, and that value is created by producing and sharing valuable content. There are lots of ways to create content: You can write blog posts or ebooks, produce audio interviews or podcasts, or offer webinars or short videos, to name a few.

There is no point in using social media to drive traffic to your company’s website if you have nothing new to offer when they get there. Producing fresh content on a regular basis will keep people coming back for more.

Blogging can be a great way to maintain a regular flow of fresh content. If you’re just starting out, here are some useful tips when it comes to launching a blog.

Set up an editorial calendar for your blog to help manage your schedule.
Get into the habit of writing a few posts per week at least three months before your blog goes live. This will result in an archive of blog content you can use to start off with a bang.
Launch your blog with at least 10 articles already posted rather than one lonely post. This will give your readers a taste of your blog’s flavor and what it’s all about.

Community

The next C of social media is community. Social media only thrives because of the people involved. One major benefit of participating in social media is the opportunity to position yourself as key influencer, and a great way to do that is by engaging your audience and building a community.

Put aside the marketing mindset, and be real with people. Your followers and fans want to know and engage with who is behind the content you share in social media. You can’t afford to be one of those people on Twitter or Facebook who is constantly blasting out links to your blog without offering any human interaction. It’s important to instead create a two-way dialogue with your followers and fans and foster social experiences.

For example, I use Twitter to convene small business owners weekly. I host a tweetchat each Wednesday from 8 to 9 PM ET called #Smallbizchat, during which I provide a guest expert and my audience comes to learn and interact with each other. It works because I’m offering valuable content as well as discussion and engagement.

If you want to succeed in social media, you have to get out there and build a network. The more social and interactive you are, the better your chances at building a powerful social media brand will be. Social media is a great way to build relationships on and offline. The biggest form of flattery online is when others share your content. Therefore, I use a 4:1 ratio of sharing others’ content over my own.

Some other ideas for building community with others include:

Posting on forums, commenting on blogs, or connecting with new prospects across your social media footprint.
Connecting with contacts you have on LinkedIn on other social networks like Facebook and Twitter, too.
Guest blogging for other blogs or offering opportunities for others to guest blog for you.

The world is yours to interact with and build community.

Commerce

The final C of the puzzle is commerce, which is a bit trickier than you may think. In a nutshell, people do business with people they like, know, and trust. In person, it takes three interactions before you can make a strong enough impact that will allow you to cultivate a sale. On the internet, it takes seven interactions to build a relationship that will result in commerce.

Obviously, the ultimate goal of social media marketing is to generate web traffic, qualified leads, and sales. But what makes social media so appealing is the fact that it is laid back and “social.”

Be careful about not being too promotional; no one wants to be sold to. In order to succeed as your own boss, first you need to warm up the prospect by attracting them with high quality content. Then you need to engage them through direct interaction.

Ask and answer questions. As soon as you’ve gained their trust and respect, you can approach them about business, but you should only talk about business in terms of the solutions you provide and the results clients have had from working with your business.

Do you have any other tips on social media marketing?

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)

This was originally posted on www.hubspot.com

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3 Technology Tools to Help Your Small Business

by Melinda Emerson on June 29, 2011 in My Recommendations, Social Media, Technology

I love to share great software that will solve problems that come up daily running a small business. Here are three more free or low cost software solutions that could come in handy in your business. I have used all three of these tech tools in my business so I am sure that they could be useful to you. Here are 3 Technology Tools to help your small business

YouSendIt.com

YouSendIt.com is your answer the next time you need to send a large file via email. It will help say goodbye to bounced emails. YouSendIt.com is secure online file sharing software that allows you to easily send large files and email attachments up to 2GB. The intended recipient will have 7 days to download the files. Yousendit.com has a free and paid upgraded version.

Bufferapp

Bufferapp is a scheduling application that works with your Twitter account. After signing up for a 30 day free trial, you can download a browser extension or a bookmarklet. The browser extension is what you will probably want to use. You schedule the times you want the tweets to publish and you can post lots of tweets per day if you wish. This product will save you time by using auto scheduling. Send the tweet in, and it just fills the next open slot. Bufferapp has a free and paid upgraded version.

EchoSign.com

EchoSign provides electronic signature solutions ‘on demand’. Never wait for a signature on a contract again. EchoSign accelerates your document signing process with instant fax or e-signatures, tracks your team performance and their contracts’ status in real time and stores all your signed agreements. EchoSign is 100% on-demand and requires no software or hardware installations. This is a paid service that I think is worth the money.

Do you have another app or software suggestions for small business?

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

Melinda F. Emerson, known to many as SmallBizLady is one of America’s leading small business experts. As a Become Your Own Boss in 12 Months Books By Melinda Emerson 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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SmallBizLady’s Summer Reading List 2011

by Melinda Emerson on June 27, 2011 in 10 Things Lists, Business Inspiration, My Recommendations

For those of you who follow this blog, you know that I love books. One of the most important things you must be as a small business owner is a lifelong learner. Reading a key way to learn more to run your business better. You may be counting down to your family vacation, (even if it’s a staycation) I wanted to provide you with some suggestions for great reading material for the beach. These book will all help you start or run your business, and that could make all the difference in your business in the last half of this year. Here are my picks for SmallBizLady’s Summer Reading List 2011.

SNAP Selling, Speed up Sales and Win More Business with Today’s Frazzeled Customers (Portfolio, 2010) by Jill Konrath.

I like this book because nowadays everyone you want is too busy and overwhelmed and we all could benefit from lessons on how to think about selling to busy decision makers.

Inbound Marketing, Get Found Using Google, Social media, and Blogs. (J. Wiley and Sons, 2010) By Hubspot CO-founders Brian Halligan and Dharmesh Shah.

Selling is dead. In order to connect with today’s customers you must stop pushing sales messages and instead start pulling your customer’s in. This book will give you the tools and strategies you need to improve your search engine rankings and analyze which of your online marketing efforts are working..

Enchantment, The Art of Changing Hearts, Minds, and Actions (Portfolio, 2011) By Guy Kawasaki.

This is a terrific book to learn about how to take your relationships to the next level, give a fantastic presentation, and enchant your customers and employees. There’s nothing more important than your existing client list, Guy explains how to keep your customers enchanted.

Full Engagement! Inspire, Motivate and Bring Out the Best in Your People (Amacom, 2011) by Brian Tracy.

Brian is a legendry business leader who has developed a terrific employee manual for small business owners. He explains how to achieve financial results for your company by motivating employees through what he calls “ROE” Return on Energy. Read it if you have two or more employees, you will be a much better manager for it.

201 Great Ideas for Your Small Business by Jane Applegate. (Bloomberg Press, 2011 Third Edition)

This book is full of creative ideas that will help you solve everyday problems in your small business. Jane has collected tons of proven tips for managing, growing, and promoting a small business. Enjoy the third addition of this international bestselling book. You will keep it nearby as a reference for a long time in your small business.

The Start Your Own Business Bible, 501 New Ventures You Can Launch Today! (Adams Media, 2011) By Richard Walsh

No matter what kind of business you want to launch you can the 411 on it in this books. He outlines the start-up costs, pros and cons and potential earnings of hundreds of business opportunities. This book will help match your resources to your plans and kick off a business that works.

Franchising & Licensing, Two Powerful Ways to Grow Your Business in Any Economy (AMACOM, 2011 Fourth edition). By Andrew J. Sherman

This book is a blueprint to developing additional streams of revenue in your small business. Andrew outlines what is takes to license your intellectual property from business acumen, legal expertise, strategy and trends and financial insight to turn your business into a franchise. This book as also filled with sample agreements, checklists and questionnaires.

Become Your Own Boss in 12 months, A Month-by-Month Guide to a Business That Works (Adams Media, 2010) by Melinda Emerson

BYOB is a book on how to develop a 12 month plan to start or reinvent a small business. Use the Emerson Planning System to get serious about your business. If you are one of those small business owners who still does not have a website and social media strategy this book will really help you as well.

There are my 8 picks, and do you have any other suggestions for summer reading for small business owners.

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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10 Things to Grow Your Business This Summer

by Melinda Emerson on June 22, 2011 in 10 Things Lists, Ask Smallbizlady, Become Your Own Boss Tips, Branding & Marketing, Business Inspiration, Customer Service, featured, Grow Your Business, My Recommendations, Social Media, Technology

Summer is here! Now that the kids are out of school, you might be thinking about how to reduce your work schedule, but that’s the worst thing you could do. It’s time to turn up the heat in your business. Third and fourth quarters are critical times in business. You may have customers who are in budget planning cycles, or have excess budget to spend. Now is the right time reach out to your existing customers and get your house in order to make your revenue goals for the rest of the year.

Here’s 10 Things to grow your business this summer.

1. Take a break. Even if all you can afford to do is a staycation, take a break from work for at least 7 days. You need to recharge your batteries so that you can go hard the rest of the year.

2. Attend a conference. The Summer is a great time to sign up for a course or attend a conference in your industry to learn the latest trends and techniques.

3. Read a great business book. Pick a book that’s you have been meaning to read and learn a few techniques that will help you grow your business. I really like 201 Great Ideas for Your Small Business by Jane Applegate. http://www.amazon.com/Great-Ideas-Small-Business-Bloomberg/dp/0470919663/ref=dp_ob_title_bk

4. Revisit your business plan. In the first few years of a business, you should be updating your business plan every 90 days. When is the last time you reviewed your marketing plan and how well it was working to drive sales. Make sure your budget and revenue projections are up-to-date.

5. Organize a Business Retreat. Take your team offsite treat them to some good food in a lush environment. Brainstorm with them to solve the top three issues in the business. Bring in a trainer.

6. Ask for testimonials. Go back to all of your customers that you worked with over the last six months and ask for testimonials. Get them in writing to update your website and ask them to post recommendations to LinkedIn.

7. Refresh your website and marketing materials. Take a look at your website and marketing collateral including your blog header, business cards, and newsletter template. If something was just thrown together just to get some out or you’ve been using the same template for a whole, take the time to clean up your design elements to make your brand shine.

8. Update your personal bio and profiles across social media. Every small business owner should have a professional biography. Take this time to update yours with any new marquee clients, non-profit board service, and speaking opportunities. Be sure to update your profiles on your social media accounts as well.

9. Do a waste walk in your office. Summer is a great time to chuck the clutter. The shredder is your friend. Get rid of stray paper, conference bags, direct mail, magazines, equipment that doesn’t work, and giveaways you really didn’t want anyway.

10. Develop a special offer. You need a reason to contact your customers. Nothing is better than a discount, coupon or special offer. You use this as your excuse to call, email or snail mail your existing customers. They are the most valuable asset in your business.

Do you have any other tips to keep a small business growing over the summer?

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

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

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How to Get Started on Twitter

by Melinda Emerson on June 21, 2011 in Ask Smallbizlady, Branding & Marketing, Customer Service, featured, How to Start, Social Media, Technology

Using Twitter is a great way to start building your online brand. If you can send a text message, you can tweet. You can only communicate using 140 characters on Twitter, but if you want people to Retweet (RT) or share your content, you should cut your tweets down to 125 characters. Here a few quick rules: Listen first, then engage with people directly, then start sharing articles of interest to attract your target audience. Once you establish relationships on Twitter you can then start writing your own blog and tweeting your original content.

Decide what you wish to accomplish before using Twitter. Are you trying to establish your expertise, looking for a new work opportunity or simply want to connect with others who share a special interest or expertise?
Figure out who your target audience is and where these folks hang out online. (You want to be as specific as possible in targeting your efforts.)
Establish your own website. It does not make sense to use social media if you do not have a place to drive traffic, like your own website.
Developing a list of 3-5 blogs or websites. It’s a good idea to develop a daily habit of going out to a few websites and finding content to share on twitter
Remember that social media marketing is a marathon, not a sprint. You will get out of it what you invest in it.

5 steps to Establishing Your Twitter Account:

Set up an account
Enter your profile information & photo
Find your friends
How to follow someone
How to post messages

Step 1: Set up an account

Go to http://twitter.com and click the big green “Get Started – Join!” button.
On the resulting screen, enter the username you want, your desired password, your email address and complete the spam checker
About your username:
- Use your whole name, nickname, name of your business or a description of your service, examples @comcastcares @jenny55 @bizsavvymom @smallbizlady

Step 2: Enter your profile information

Your profile information is important. If you want people to want to connect to you, you’ll need to tell them a little bit about yourself. Try not to write anything scary or silly; or too personal. You need just to explain your expertise and/or interests. And your location should be a larger city nearby.
Log into Twitter, and click on the ‘Settings’ link at the top of your Twitter homepage.
The ‘Account’ tab of the ‘Settings’ section includes a text box that lets you input a 160-character blurb about yourself, along with a link to your website.
The ‘Picture’ tab lets you upload a picture to your profile. It is best to post a smiling picture of yourself

Step 3: Find your friends

There are a few simple ways to find people to follow on Twitter:
Click on the ‘Who To Follow’ to search for people who Twitter suggests you follow.
Invite from other networks will search your email address books (aol, hotmail, gmail etc.) to see if anyone has associated any of those addresses with a Twitter account.
Invite by email is a way to invite your friends to join Twitter through email.
Search tab allows you to search for new people to follow. You can mimic this function by using http://search.twitter.com.
You can search for the city where you live to find other users in your area. Enter your industry to find business peers. Enter your hobbies to find people with shared interests. The potential list is endless.

Step 4: How to follow someone

You can log in twitter from anywhere, you can use desktop applications, or you can connect from your phone.
To follow someone
- Hover over their @username, click link, read their bio & recent tweets. If they seem interesting, hit follow

Step 5: How to post messages

To post a regular message
Just type it into the box that says “What are you doing?” and hit the ‘update’ button below
To send an open message
When sending an open message to someone publicly, type “@” followed by their username, then the message. Here’s an example:
encouragement4u @smallbizlady How did you overcome your biggest business challenges? Check out these stories! http://budurl.com/eqbx

Send a Direct-message

To send a private direct message to someone, type “d” then a space and then their username. So, to send me a direct message you would type “d @smallbizlady That was a great #smallbizchat on Twitter last night!”
Note: you can only send direct messages to people who you follow, and who follow you back.

How to Retweet or RT someone else’s message

If you like what someone says, and want to show your followers that message.
Copy the tweet (not username), then hit grey arrow to reply, add ‘RT’ before the @username Put one space after @username & paste original tweet. If it is too long, You can edit, but only for space. Here’s an example of a Retweet:
Holly_Hanna RT @smallbizlady 32 Tips to make online customers love you –http://tinyurl.com/op9bbk (this is really well done)

Quick Twitter Tips

Remember to click your @username to see messages/tweets folks are sending to you openly.
Remember to Follow your Followers
Under your username & photo click followers to see who followed you and decide to follow back or not. When you have time its nice to send a thanks for the follow note.
Now you are ready to get started. Welcome to Twitterverse!

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

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

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

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

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

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

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

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

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

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

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9 Reasons Why Boomer Businesses Fail

by Melinda Emerson on June 13, 2011 in Ask Smallbizlady, Before You Start, Business Inspiration, Customer Service, featured, Grow Your Business, How to Start, My Recommendations

Baby Boomers Businesses

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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