Free daily tips, information, advice and ideas
to help you better manage your small business.
Demons are common in movies. Demons show up in fantastic shapes and sizes--all for the sake of entertainment.
Demons in business are not entertaining. You grapple with them every day. They take up lots of your time, and you must prepare for the unexpected visit.
Example: Don is a computer whiz. He helps people in business solve the computer problems that plague them. He does new set-ups, networking, back-ups, social media connectivity, and he trains his clients' employees. Don's business experienced ups and downs with cash flow--until he began selling his clients on the value of monthly retainers. Clients now pay a set amount every month to have his services always available and he is always on call. His cash flow demon is now caged.
Example: Dawn used to run a pet grooming service. She set up the business in her garage and ran it successfully for several years. Then a demon appeared. A dog being groomed died on the table. The owner sued. Dawn had no insurance and she had never registered her business or incorporated. Incorporating a small business is very easy and quick these days. It puts a wall of separation between the business and the owner's assets. Today, Dawn is out of business and she is struggling to save her home because of the lawsuit. She could have protected herself against this demon by incorporating her business.
Example: Oscar is a hypnotherapist. He has private clients and he runs sessions for people wanting to lose weight. Some of these clients pay with cash. Oscar got into the bad habit of pocketing the cash and never declaring it on his tax returns. This went on for several years. Then the IRS came calling, wanting to do an audit. They wanted to see his records, including the lists of attendees at his sessions. When these records were matched with Oscar's tax returns, a discrepancy was found. He now owes the IRS a large sum of back tax liabilities, together with interest and a fine. The IRS demon is not one to mess around with--feed it properly to keep it at bay.
All sorts of demons can show up at your door when you are in business. It's not just lawsuits and tax problems. Regulations and technology can breathe down your neck as well.
Business is a lot of things. You worry about day-to-day operations, suppliers, customers, the changing market--the list is almost endless. Don't neglect giving some thought to the demons that can hound you.
Tuesday, August 4, 2015
Monday, August 3, 2015
Surfing the markets
Free daily tips, information, advice and ideas
to help you better manage your small business.
Building a business means staying on top of markets. But markets change. Markets are like waves on the ocean.
One after another, market waves rush toward the shore. How do you catch the next wave and surf to the safety of a beach? And what do you do then?
Example: Stacey runs a successful consignment shop. She specializes in high end women's clothing and accessories. Her shop attracts business and professional women. They eagerly buy the name brand outfits, handbags, shoes and jewelry Stacey was known for. Frequently, these buyers used these items 2-3-4 times and then they returned them to consign again. These customers were riding a marketplace wave. They dressed in the latest fashions and saved money. Then, Stacey caught a market wave herself. She began putting up pictures of every new item on social media. Every day, she added a new item to her Facebook page. She caught the social media wave that exploded her consignment business.
Example: Jon runs an interior design business, working with residential and commercial clients. He caught a marketing wave when he contacted realtors and offered to provide staging services--getting a home ready to show to prospective buyers. This provided Jon with a successful expansion of his business. To take it to the next level, he began offering short videos showing realtors, agents and homeowners how to stage a home to attract buyers. Jon provided free short video trailers on social media--along with longer videos that he offered for sale. These attracted realtors who hired Jon to do stagings, as well as in-person talks and demonstrations for real estate agents. Jon took his design business to the next level.
If your business is already riding a growth wave, look around and find the next wave. Surf it to the next level. Don't get beached. Ride the next wave.
Starting out, your business is riding a start-up wave. To grow, you must catch the next marketing wave. It can be as simple as using social media to expand your reach.
to help you better manage your small business.
Building a business means staying on top of markets. But markets change. Markets are like waves on the ocean.
One after another, market waves rush toward the shore. How do you catch the next wave and surf to the safety of a beach? And what do you do then?
Example: Stacey runs a successful consignment shop. She specializes in high end women's clothing and accessories. Her shop attracts business and professional women. They eagerly buy the name brand outfits, handbags, shoes and jewelry Stacey was known for. Frequently, these buyers used these items 2-3-4 times and then they returned them to consign again. These customers were riding a marketplace wave. They dressed in the latest fashions and saved money. Then, Stacey caught a market wave herself. She began putting up pictures of every new item on social media. Every day, she added a new item to her Facebook page. She caught the social media wave that exploded her consignment business.
Example: Jon runs an interior design business, working with residential and commercial clients. He caught a marketing wave when he contacted realtors and offered to provide staging services--getting a home ready to show to prospective buyers. This provided Jon with a successful expansion of his business. To take it to the next level, he began offering short videos showing realtors, agents and homeowners how to stage a home to attract buyers. Jon provided free short video trailers on social media--along with longer videos that he offered for sale. These attracted realtors who hired Jon to do stagings, as well as in-person talks and demonstrations for real estate agents. Jon took his design business to the next level.
If your business is already riding a growth wave, look around and find the next wave. Surf it to the next level. Don't get beached. Ride the next wave.
Starting out, your business is riding a start-up wave. To grow, you must catch the next marketing wave. It can be as simple as using social media to expand your reach.
Friday, July 31, 2015
Tomorrow's businesses
Free daily tips, information, advice and ideas
to help you better manage your small business.
Tomorrow's businesses will look very different from those of today. Technology and our changing culture will make big impacts on day-to-day business.
Many businesses start up but don't make it past 5 years. Others have more staying power. The difference has to do with the attitudes of the owner.
A business is a living, breathing entity. It provides a product or service that others want and will pay for. It succeeds in direct proportion to the owner's agility--turning feedback from the marketplace into sales.
Example: John was intrigued with solar power. Free energy from the sun captured his enthusiasm, and he installed solar panels on his roof. It supplied part of the power needs of his home and reduced his monthly bill for electricity. He wrestled with the problem of turning this into a business, and he hit on an idea. He would install a large array of solar panels on several acres of land adjacent to a suburb with hundreds of homes. He could create a power cooperative by signing up homeowners--some of whom already had solar panels on their homes. Many regulatory hoops had to be jumped through, but John was on his way to creating a business that fit tomorrow's needs.
Example: Ella runs the machine shop she inherited from her father. Machines turned out parts to spec for all sorts of clients in aerospace, health care and automotive industries. Then technology created 3-D printing. Ella immediately saw threats and opportunities. She bought an early model 3-D printer and began experimenting. She is now at the leading edge of technological development, and many of her products are produced on 3-D machines. It's an industry in transition, but Ella is confident that her operation will survive and thrive.
Example: Tom has operated a bookstore for many years. Realizing that most readers today do their reading on electronic media, he faced a fundamental decision regarding the future of his operation. Tom loved books, so he restructured the store. In the future, he would offer first editions, rare books and maps, and other book-related memorabilia. To take advantage of today's technology, he offers online viewing of any book he offers. His many customers today are located all over the world, and a few still come to his bookstore. By concentrating on one niche market and specializing in it only, Tom re-invented his business. And by taking advantage of today's social media, he sells fewer books, but for a healthier bottom line.
Social media has forever changed how businesses reach out and tap into new and bigger markets. And technology is still on the march, forever changing some industries.
Tomorrow's businesses will be quite different from those of today. Basically, you are still selling products and services. But the products and services change, and the point of sale changes.
Take a look at tomorrow. How will it affect what you do? Should you change? How will you change?
to help you better manage your small business.
Tomorrow's businesses will look very different from those of today. Technology and our changing culture will make big impacts on day-to-day business.
Many businesses start up but don't make it past 5 years. Others have more staying power. The difference has to do with the attitudes of the owner.
A business is a living, breathing entity. It provides a product or service that others want and will pay for. It succeeds in direct proportion to the owner's agility--turning feedback from the marketplace into sales.
Example: John was intrigued with solar power. Free energy from the sun captured his enthusiasm, and he installed solar panels on his roof. It supplied part of the power needs of his home and reduced his monthly bill for electricity. He wrestled with the problem of turning this into a business, and he hit on an idea. He would install a large array of solar panels on several acres of land adjacent to a suburb with hundreds of homes. He could create a power cooperative by signing up homeowners--some of whom already had solar panels on their homes. Many regulatory hoops had to be jumped through, but John was on his way to creating a business that fit tomorrow's needs.
Example: Ella runs the machine shop she inherited from her father. Machines turned out parts to spec for all sorts of clients in aerospace, health care and automotive industries. Then technology created 3-D printing. Ella immediately saw threats and opportunities. She bought an early model 3-D printer and began experimenting. She is now at the leading edge of technological development, and many of her products are produced on 3-D machines. It's an industry in transition, but Ella is confident that her operation will survive and thrive.
Example: Tom has operated a bookstore for many years. Realizing that most readers today do their reading on electronic media, he faced a fundamental decision regarding the future of his operation. Tom loved books, so he restructured the store. In the future, he would offer first editions, rare books and maps, and other book-related memorabilia. To take advantage of today's technology, he offers online viewing of any book he offers. His many customers today are located all over the world, and a few still come to his bookstore. By concentrating on one niche market and specializing in it only, Tom re-invented his business. And by taking advantage of today's social media, he sells fewer books, but for a healthier bottom line.
Social media has forever changed how businesses reach out and tap into new and bigger markets. And technology is still on the march, forever changing some industries.
Tomorrow's businesses will be quite different from those of today. Basically, you are still selling products and services. But the products and services change, and the point of sale changes.
Take a look at tomorrow. How will it affect what you do? Should you change? How will you change?
Thursday, July 30, 2015
Using freebies
Free daily tips, information, advice and ideas
to help you better manage your small business.
Everybody loves freebies. Offer a freebie and step aside to avoid the stampede.
Today a freebie is much more than offering free delivery or free shipping. These attract buyers, but social media has opened the door to a much wider appeal.
Example: Linda fell in love with yoga. She practiced yoga and went on to receive several certifications and became a sought-after teacher. To grow her business, she began offering free introductory training sessions through her website. She promoted using social media, and this brought her many new clients--both private and group sessions at her offices and additional clients looking to become certified. A group of interested clients in a distant city arranged for her to come to them for extensive training sessions. The free introduction attracted more interest, and today she travels to groups far and near.
Example: Helen was a dental hygienist who became very interested in minimally invasive dental hygiene. To reach out and attract clients for her coaching services, she developed a series of short webinars, free and offered to anyone interested. The free sessions resulted in new clients who signed up for her coaching services. She drives interest through her use of social media--Facebook, Twitter, and others.
Example: James is a master gardener. He designs and installs gardens for clients. To reach out and attract new clients, James offers free consultations to prospective clients. Additionally, he offers monthly free talks and demonstrations, open to the public. All these are promoted on social media. His free demonstrations include showing how flowering plants and shrubs can create an attractive landscape with minimal maintenance. He includes discussions of water features, walkways, fences and gates. His freebies are built around educating prospective clients in the possibilities of projects he might do for them. He fills his Facebook page with new pictures two or three times each week.
Using freebies can help you build your business. But it's a lot more than free deliveries locally or free shipping nationally.
When you offer free demonstrations, free open houses, free samples, free information, the public is interested. And always use social media to get the word out. It works.
to help you better manage your small business.
Everybody loves freebies. Offer a freebie and step aside to avoid the stampede.
Today a freebie is much more than offering free delivery or free shipping. These attract buyers, but social media has opened the door to a much wider appeal.
Example: Linda fell in love with yoga. She practiced yoga and went on to receive several certifications and became a sought-after teacher. To grow her business, she began offering free introductory training sessions through her website. She promoted using social media, and this brought her many new clients--both private and group sessions at her offices and additional clients looking to become certified. A group of interested clients in a distant city arranged for her to come to them for extensive training sessions. The free introduction attracted more interest, and today she travels to groups far and near.
Example: Helen was a dental hygienist who became very interested in minimally invasive dental hygiene. To reach out and attract clients for her coaching services, she developed a series of short webinars, free and offered to anyone interested. The free sessions resulted in new clients who signed up for her coaching services. She drives interest through her use of social media--Facebook, Twitter, and others.
Example: James is a master gardener. He designs and installs gardens for clients. To reach out and attract new clients, James offers free consultations to prospective clients. Additionally, he offers monthly free talks and demonstrations, open to the public. All these are promoted on social media. His free demonstrations include showing how flowering plants and shrubs can create an attractive landscape with minimal maintenance. He includes discussions of water features, walkways, fences and gates. His freebies are built around educating prospective clients in the possibilities of projects he might do for them. He fills his Facebook page with new pictures two or three times each week.
Using freebies can help you build your business. But it's a lot more than free deliveries locally or free shipping nationally.
When you offer free demonstrations, free open houses, free samples, free information, the public is interested. And always use social media to get the word out. It works.
Wednesday, July 29, 2015
Event promotions
Free daily tips, information, advice and ideas
to help you better manage your small business.
Promoting your small business gets you to the next level. Growing is the whole idea behind your promotions.
Many promotional tools are available to you. Traditional advertising is one way. Community involvement is another. You can promote by attending networking groups and business card exchanges--subjects covered in write-ups yesterday and the day before.
Holding events is another good way to get the word out into the community. These can be over the net or on the ground at your place. Or you can combine the two methods.
Example: Shawn teaches guitar. He uses social media to reach out and find new people who want to learn guitar. Many of these are in the wide geographical area he serves. They sign up for and come to his teaching studio for one-on-one instruction. Others prefer the online instruction he offers--they sign on for instruction sessions with Shawn. To grow, Shawn also began offering simple repair sessions online--restringing an instrument, for example. In addition, he offers an open event once each month--people come to his studio, get pointers on technique, meet other guitar players, and share an experience with others. These sessions are informal and free.
Example: Marisa is a massage therapist. She has a small studio where she meets clients. To grow her client base, Marisa partnered with a chiropractor. Once each month, the two of them offered free events, open to the public, where short demonstrations were offered. Each gave a brief talk on the benefits and applications of their specialties. All questions were answered. These sessions are promoted on social media and they have led to more clients for each of them.
Example: Jay is a business coach and consultant. He targets owners of small and medium-sized businesses to help them through various operational and growth difficulties. To sign up more clients, Jay decided to hold events to attract the people he wanted to work with. He partnered with a financial planner to hold a session, free and open to the public, on getting a business ready to sell. Jay and the financial planner each gave a brief talk and answered questions. The session was so successful (for both of them) that Jay decided to hold sessions every month--with a tax expert, with a health care expert, with a legal expert who talked about what to do when a business is sued.
Holding events to promote your business is a good way to grow. The general public is thirsty for information and anxious to have their questions answered.
Any business can hold an event that draws attention. Computer experts, social media mavens, nutritionists, personal trainers, food growers, therapists, home improvement specialists--the list is endless.
Put on your thinking cap and devise an event that will bring you additional clients and customers. You can go it alone or partner with another business. Either way, you are reaching out to people who otherwise might not ever call you.
to help you better manage your small business.
Promoting your small business gets you to the next level. Growing is the whole idea behind your promotions.
Many promotional tools are available to you. Traditional advertising is one way. Community involvement is another. You can promote by attending networking groups and business card exchanges--subjects covered in write-ups yesterday and the day before.
Holding events is another good way to get the word out into the community. These can be over the net or on the ground at your place. Or you can combine the two methods.
Example: Shawn teaches guitar. He uses social media to reach out and find new people who want to learn guitar. Many of these are in the wide geographical area he serves. They sign up for and come to his teaching studio for one-on-one instruction. Others prefer the online instruction he offers--they sign on for instruction sessions with Shawn. To grow, Shawn also began offering simple repair sessions online--restringing an instrument, for example. In addition, he offers an open event once each month--people come to his studio, get pointers on technique, meet other guitar players, and share an experience with others. These sessions are informal and free.
Example: Marisa is a massage therapist. She has a small studio where she meets clients. To grow her client base, Marisa partnered with a chiropractor. Once each month, the two of them offered free events, open to the public, where short demonstrations were offered. Each gave a brief talk on the benefits and applications of their specialties. All questions were answered. These sessions are promoted on social media and they have led to more clients for each of them.
Example: Jay is a business coach and consultant. He targets owners of small and medium-sized businesses to help them through various operational and growth difficulties. To sign up more clients, Jay decided to hold events to attract the people he wanted to work with. He partnered with a financial planner to hold a session, free and open to the public, on getting a business ready to sell. Jay and the financial planner each gave a brief talk and answered questions. The session was so successful (for both of them) that Jay decided to hold sessions every month--with a tax expert, with a health care expert, with a legal expert who talked about what to do when a business is sued.
Holding events to promote your business is a good way to grow. The general public is thirsty for information and anxious to have their questions answered.
Any business can hold an event that draws attention. Computer experts, social media mavens, nutritionists, personal trainers, food growers, therapists, home improvement specialists--the list is endless.
Put on your thinking cap and devise an event that will bring you additional clients and customers. You can go it alone or partner with another business. Either way, you are reaching out to people who otherwise might not ever call you.
Tuesday, July 28, 2015
Card exchanges
Free daily tips, information, advice and ideas
to help you better manage your small business.
Business card exchanges have declined in popularity. They once served a good purpose. They still can.
These meetings in the past were a focal point for business people. Attendees gathered and exchanged business cards. It was meant to get the word out about what businesses did, what they could do for each other, and extend the reach into the community.
Business card exchanges still have their use. But the use is limited--unless you've kept up with changes in the culture.
Example: Takisha is a caterer. She decided to attend a business card exchange to get to know some prospective clients. She went to a big gathering, thinking that she would have many opportunities. Instead, she found people rushing around, pressing their business card into first one hand and then the next. She passed out most of the 50 cards she carried with her, and she collected as many from others. Back at her office the next day, she systemically flipped through the cards. She could not place a single face with a card. But she called some likely prospects anyway. No one remembered her, but she was able to make a few good contacts and appointments. It was similar to cold calling.
Example: John is a plumber. He was invited to join an organization that held monthly business card exchanges. Because of the rules, he was the only plumber in the group--no competitors. He thought it was a good idea to meet some new clients. The problem turned out to be a self-limiting one. Once he had picked up a client or two from among the other members of the group, it was pretty much over. He dropped out of the group.
Example: I have myself attended many business card exchanges in the past. I learned that the best way to increase the effectiveness of the meeting was a simple one. Instead of pressing one of my business cards into every hand, I concentrated on targeting 4 or 5 people. I would introduce myself, ask questions about them and their business, engage them in a 10 or 15 minute conversation. The talk inevitably turned to what I did in my business. In other words, the two of us got to know each other--and then we exchanged business cards. Meeting a small number of people turned out to be much more effective than simply passing out business cards.
Card exchanges can be a good way to extend the reach of your business. But it is much more than simply exchanging business cards.
People want to know the person they are doing business with. A brief conversation with a few people can turn a quickie business card exchange into a valuable marketing tool for you.
to help you better manage your small business.
Business card exchanges have declined in popularity. They once served a good purpose. They still can.
These meetings in the past were a focal point for business people. Attendees gathered and exchanged business cards. It was meant to get the word out about what businesses did, what they could do for each other, and extend the reach into the community.
Business card exchanges still have their use. But the use is limited--unless you've kept up with changes in the culture.
Example: Takisha is a caterer. She decided to attend a business card exchange to get to know some prospective clients. She went to a big gathering, thinking that she would have many opportunities. Instead, she found people rushing around, pressing their business card into first one hand and then the next. She passed out most of the 50 cards she carried with her, and she collected as many from others. Back at her office the next day, she systemically flipped through the cards. She could not place a single face with a card. But she called some likely prospects anyway. No one remembered her, but she was able to make a few good contacts and appointments. It was similar to cold calling.
Example: John is a plumber. He was invited to join an organization that held monthly business card exchanges. Because of the rules, he was the only plumber in the group--no competitors. He thought it was a good idea to meet some new clients. The problem turned out to be a self-limiting one. Once he had picked up a client or two from among the other members of the group, it was pretty much over. He dropped out of the group.
Example: I have myself attended many business card exchanges in the past. I learned that the best way to increase the effectiveness of the meeting was a simple one. Instead of pressing one of my business cards into every hand, I concentrated on targeting 4 or 5 people. I would introduce myself, ask questions about them and their business, engage them in a 10 or 15 minute conversation. The talk inevitably turned to what I did in my business. In other words, the two of us got to know each other--and then we exchanged business cards. Meeting a small number of people turned out to be much more effective than simply passing out business cards.
Card exchanges can be a good way to extend the reach of your business. But it is much more than simply exchanging business cards.
People want to know the person they are doing business with. A brief conversation with a few people can turn a quickie business card exchange into a valuable marketing tool for you.
Monday, July 27, 2015
Networking successes
Free daily tips, information, advice and ideas
to help you better manage your small business.
Networking can increase your client and customer base. Meet more people, inform them about what you can do for them, and you increase the chances that they will call you at a future date.
Networking also increases referrals. And we all know the value of referrals.
Networking events, social media, and other methods can draw more attention to your business. And more attention is what is needed.
Example: Della runs a video operation. She works with small and medium size businesses making videos for them. These are used in conferences and on social media to help those businesses spread their word. She decided to begin running networking events at her studios. Once each month Della gets the word out about the next networking event. She has made arrangements with local business people to attract more attention to the event. A local caterer furnishes some goodies. A local business person is a featured speaker. And a local wine shop furnishes several bottles of bubbly. The events are popular, they are informal, and they serve as a venue for local businesses to meet each other.
Example: DeWayne is a business coach. To punch up the awareness of his operation in the local community, he started a monthly networking meetings. He made arrangements with a local restaurant to use their meeting room and to furnish a lite meal (there is a charge, of course). To get the word out, DeWayne puts each upcoming event on social media, and he posts on his MeetUp site. MeetUp.com offers this to anyone wanting to have meetings--clubs, groups, and networking people. DeWayne's business reach has expanded with more clients becoming aware of what he can do for them.
Example: Robert runs a small construction company, handling projects both large and small. When he completes a job (residential, commercial), he always goes in for a follow-up visit. Here, he sometimes gets additional projects, but more importantly, he asks for referrals. It's a type of networking his way through the community. And we all know the value of referrals.
Many groups run networking events. Chambers as well as professional business associations run them. Or you can run them yourself, as shown in the examples.
Networking can take several forms. Put networking to work in your business using the methods that work for you.
Doing a networking meeting too frequently can work against you. Once a month is about right--if you are planning to do one yourself. Attending others gives you a choice. Whatever you do, don't blow it--use networking.
to help you better manage your small business.
Networking can increase your client and customer base. Meet more people, inform them about what you can do for them, and you increase the chances that they will call you at a future date.
Networking also increases referrals. And we all know the value of referrals.
Networking events, social media, and other methods can draw more attention to your business. And more attention is what is needed.
Example: Della runs a video operation. She works with small and medium size businesses making videos for them. These are used in conferences and on social media to help those businesses spread their word. She decided to begin running networking events at her studios. Once each month Della gets the word out about the next networking event. She has made arrangements with local business people to attract more attention to the event. A local caterer furnishes some goodies. A local business person is a featured speaker. And a local wine shop furnishes several bottles of bubbly. The events are popular, they are informal, and they serve as a venue for local businesses to meet each other.
Example: DeWayne is a business coach. To punch up the awareness of his operation in the local community, he started a monthly networking meetings. He made arrangements with a local restaurant to use their meeting room and to furnish a lite meal (there is a charge, of course). To get the word out, DeWayne puts each upcoming event on social media, and he posts on his MeetUp site. MeetUp.com offers this to anyone wanting to have meetings--clubs, groups, and networking people. DeWayne's business reach has expanded with more clients becoming aware of what he can do for them.
Example: Robert runs a small construction company, handling projects both large and small. When he completes a job (residential, commercial), he always goes in for a follow-up visit. Here, he sometimes gets additional projects, but more importantly, he asks for referrals. It's a type of networking his way through the community. And we all know the value of referrals.
Many groups run networking events. Chambers as well as professional business associations run them. Or you can run them yourself, as shown in the examples.
Networking can take several forms. Put networking to work in your business using the methods that work for you.
Doing a networking meeting too frequently can work against you. Once a month is about right--if you are planning to do one yourself. Attending others gives you a choice. Whatever you do, don't blow it--use networking.
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