Monday, May 25, 2009
American Small Business News
Would you like to know more about what’s involved in working with a small business coach? Find out more about how business coaches assist their clients in exclusive expert interview with Sylvia Browder, Project Director, Business Coach, and Consultant with the Women’s Business Center, Inc., based in southern Alabama.
Monday, May 18, 2009
Are You Planning for Business Success? 5 Tips to Succeed!
One of the most gratifying steps that you can take is starting your own business. This can be an exciting and rewarding venture. The key to business ownership is preparation. Proper planning is one of the most important aspects of starting a business. It defines your capabilities not only as an entrepreneur, but in your personal affairs.
Are you planning for business success?
By failing to plan, you are planning to fail – If you cant take the time needed to plan for the success of your business, then don’t waist your time starting one. What is a business plan? A business plan is your blue print or what I tell many of my clients, it’s your bible! A business plan defines your business, identifies your goals, and serves as your company’s resume. It will help you arrange strategic alliances, obtain financing and attract key personnel. By planning for success, you will be able to overcome many hurdles that may arise.
Work on your business, not in your business – the worst thing that you can do is become a slave to your business. I know this first hand; as a former owner of a Building Maintenance Company; I was president, HR, payroll specialist, trainer, janitor, saleswoman and more. It took me a while to realize that not only could I not effectively wear every hat, but in order to grow and regain my sanity, I had to trust others. It is important that you delegate non-core business to your staff or through outsourcing. Play on the strengths of others. The lack of delegation will stifle your growth, or worse, cause you to run your business and yourself into a pit fall.
In order to blossom, you must network. Networking is a reciprocal process based on the exchange of ideas, contacts, advice and referrals. By networking, you are building professional relationships and generating new business. It is important to get out and meet with others that can provide a business support structure for you. Don't think you can do it all by yourself; by talking to others in business you will find out great ideas which is very motivating.
Great customer service is paramount! I can’t begin to emphasize how important it is to provide your customers with exceptional customer service. How is this done? This can be achieved by building lasting relationships with people. The success of a business depends upon the quality of care in the relationship. By understanding and focusing on the needs of your customers, you create a loyalty between yourselves. Don’t sit on your morals! You should never get too comfortable, instead, regularly assess the strengths and weaknesses of the quality of your services, your processes and your customer approach. As a business owner, I make it a practice to over deliver and under promise.
Form an advisory committee. – An advisory committee is a group of individuals, who offer advice, inform or notify. No business is too small to benefit from having an advisory board which is an extremely powerful management tool. Do you ever share an open discussion with other business people in an informal setting? Well, an advisory committee is a professional version.
Planning is the key to success in any business. Stay focused on your business goals and you will achieve the success that you imagined, and more!
Are you planning for business success?
By failing to plan, you are planning to fail – If you cant take the time needed to plan for the success of your business, then don’t waist your time starting one. What is a business plan? A business plan is your blue print or what I tell many of my clients, it’s your bible! A business plan defines your business, identifies your goals, and serves as your company’s resume. It will help you arrange strategic alliances, obtain financing and attract key personnel. By planning for success, you will be able to overcome many hurdles that may arise.
Work on your business, not in your business – the worst thing that you can do is become a slave to your business. I know this first hand; as a former owner of a Building Maintenance Company; I was president, HR, payroll specialist, trainer, janitor, saleswoman and more. It took me a while to realize that not only could I not effectively wear every hat, but in order to grow and regain my sanity, I had to trust others. It is important that you delegate non-core business to your staff or through outsourcing. Play on the strengths of others. The lack of delegation will stifle your growth, or worse, cause you to run your business and yourself into a pit fall.
In order to blossom, you must network. Networking is a reciprocal process based on the exchange of ideas, contacts, advice and referrals. By networking, you are building professional relationships and generating new business. It is important to get out and meet with others that can provide a business support structure for you. Don't think you can do it all by yourself; by talking to others in business you will find out great ideas which is very motivating.
Great customer service is paramount! I can’t begin to emphasize how important it is to provide your customers with exceptional customer service. How is this done? This can be achieved by building lasting relationships with people. The success of a business depends upon the quality of care in the relationship. By understanding and focusing on the needs of your customers, you create a loyalty between yourselves. Don’t sit on your morals! You should never get too comfortable, instead, regularly assess the strengths and weaknesses of the quality of your services, your processes and your customer approach. As a business owner, I make it a practice to over deliver and under promise.
Form an advisory committee. – An advisory committee is a group of individuals, who offer advice, inform or notify. No business is too small to benefit from having an advisory board which is an extremely powerful management tool. Do you ever share an open discussion with other business people in an informal setting? Well, an advisory committee is a professional version.
Planning is the key to success in any business. Stay focused on your business goals and you will achieve the success that you imagined, and more!
Sunday, May 3, 2009
SIX SUREFIRE WAYS TO INCREASE YOUR BUSINESS GROWTH
As we move into the summer months, most small businesses tend to see a decline in profits. This can put a dent in your bottom line! How do you attract more clients and maximize your profits in a slow economy? If you have more business than you can handle, then this article is not for you? If you are like most entrepreneurs, then you want to read, “6 Surefire Ways To Increase Your Business Growth.”
SUREFIRE #1 - BECOME INVOLVED IN PUBLIC PRESENTATIONS
Seminars, workshops, trade shows, speeches and presentations are excellent ways to build your business, gain credibility, and demonstrate your professionalism. These forums are an easy and inexpensive way to get your business out in the public’s eye. Not to mention a great way to conquer your stage fright. For instance, if you are an accountant who gives a monthly seminar on various subjects, then people who are in business are bound to attend to get your valuable and free advice. By doing this, you have a steady flow of prospects; gaining local publicity; and building your level of expertise.
SUREFIRE #2 - CREATE A REFERRAL NETWORK
Do you know other companies to whom you share mutual customers with? You should be running, not walking to find who they are and how you can team up and benefit from each other. For instance, if you are a Business Writer, you should form a team with a Web designer, PR firm and / or an Ad agency, to name a few. If you are a Realtor, you should form a team with a mortgage lender, title service and home builders. The key to this is to learn as much as you can about each team members business so that you can promote it as you would your own. This new team will enable each other to grow more rapidly as you have several sales people working on your behalf to grow your business. It makes so much sense to work smarter and not harder!
SUREFIRE #3 - DEVELOP AN E-NEWSLETTER
When you expand your traditional marketing to include a regularly scheduled e-newsletter, you are creating an easy, no-cost and profitable way to market your business. By developing an ongoing relationship with prospective clients, you are establishing yourself as an expert. This also provides you with email information of potential clients. For an example of a business related e-newsletter, Google search industry related businesses websites, opt-in to their e-newsletter. To learn more about email marketing, go to Constant Contact or IContact.
SUREFIRE #4 - NETWORKING IS KING
One of the most successful ways to promote your business is through networking. Networking is to Business Owners as Gas is to Cars. Ok, so the analogy sounds silly, but you get the picture. Networking is a lifestyle in which you need to incorporate onto your “To Do” list. By networking, you are developing your social skills by engaging or interacting in an informal gathering to communicate with others for mutual assistance or support. By acquainting yourself with other business owners or executives, you are building meaningful relationships. There are many organizations that you can become involved in such as the Chamber of Commerce, BNI or professional organization related to your industry. Networking works!
SUREFIRE #5 - DEVELOP PROFESSIONAL MARKETING TOOLS
I repeat, develop professional marketing tools. Image is everything! If you lack a professional image, you lose credibility! You can create professional looking brochures, fliers and business cards with affordable software such as Microsoft Publisher or Vista Print. Shop around for an affordable website designer, barter with other business owners, or go to your local university and recruit a student familiar with computer programming. Many students are looking for extra work. You don’t have to compromise your budget to create a professional image.
SUREFIRE #6 – GET ON THE SOCIAL MEDIA BANDWAGON
As entrepreneurs, it is essential that you continually generate new ideas in order to maximize the profit-making potential of your venture. Social media is a great way to leverage your products or services. I highly suggest engaging in social networking because it is an easy and inexpensive way to connect to people around the world and an opportunity to make friends with people who have similar interests, find solutions to problems they might have by collaborating with others, as well as attract clients that might need your products or services.
According to a recent survey on online social networking by the Institute for Corporate Productivity:
SUREFIRE #1 - BECOME INVOLVED IN PUBLIC PRESENTATIONS
Seminars, workshops, trade shows, speeches and presentations are excellent ways to build your business, gain credibility, and demonstrate your professionalism. These forums are an easy and inexpensive way to get your business out in the public’s eye. Not to mention a great way to conquer your stage fright. For instance, if you are an accountant who gives a monthly seminar on various subjects, then people who are in business are bound to attend to get your valuable and free advice. By doing this, you have a steady flow of prospects; gaining local publicity; and building your level of expertise.
SUREFIRE #2 - CREATE A REFERRAL NETWORK
Do you know other companies to whom you share mutual customers with? You should be running, not walking to find who they are and how you can team up and benefit from each other. For instance, if you are a Business Writer, you should form a team with a Web designer, PR firm and / or an Ad agency, to name a few. If you are a Realtor, you should form a team with a mortgage lender, title service and home builders. The key to this is to learn as much as you can about each team members business so that you can promote it as you would your own. This new team will enable each other to grow more rapidly as you have several sales people working on your behalf to grow your business. It makes so much sense to work smarter and not harder!
SUREFIRE #3 - DEVELOP AN E-NEWSLETTER
When you expand your traditional marketing to include a regularly scheduled e-newsletter, you are creating an easy, no-cost and profitable way to market your business. By developing an ongoing relationship with prospective clients, you are establishing yourself as an expert. This also provides you with email information of potential clients. For an example of a business related e-newsletter, Google search industry related businesses websites, opt-in to their e-newsletter. To learn more about email marketing, go to Constant Contact or IContact.
SUREFIRE #4 - NETWORKING IS KING
One of the most successful ways to promote your business is through networking. Networking is to Business Owners as Gas is to Cars. Ok, so the analogy sounds silly, but you get the picture. Networking is a lifestyle in which you need to incorporate onto your “To Do” list. By networking, you are developing your social skills by engaging or interacting in an informal gathering to communicate with others for mutual assistance or support. By acquainting yourself with other business owners or executives, you are building meaningful relationships. There are many organizations that you can become involved in such as the Chamber of Commerce, BNI or professional organization related to your industry. Networking works!
SUREFIRE #5 - DEVELOP PROFESSIONAL MARKETING TOOLS
I repeat, develop professional marketing tools. Image is everything! If you lack a professional image, you lose credibility! You can create professional looking brochures, fliers and business cards with affordable software such as Microsoft Publisher or Vista Print. Shop around for an affordable website designer, barter with other business owners, or go to your local university and recruit a student familiar with computer programming. Many students are looking for extra work. You don’t have to compromise your budget to create a professional image.
SUREFIRE #6 – GET ON THE SOCIAL MEDIA BANDWAGON
As entrepreneurs, it is essential that you continually generate new ideas in order to maximize the profit-making potential of your venture. Social media is a great way to leverage your products or services. I highly suggest engaging in social networking because it is an easy and inexpensive way to connect to people around the world and an opportunity to make friends with people who have similar interests, find solutions to problems they might have by collaborating with others, as well as attract clients that might need your products or services.
According to a recent survey on online social networking by the Institute for Corporate Productivity:
- 65% of business professionals use some form of personal or professional social network
- 47% use social networks to connect with potential clients and market their skills
- 55% use social networks to share best practices with colleagues
Some popular social networking services, such as, Facebook, MySpace, Twitter, Linkedin and Bebo allow users to create a profile of themselves.
As entrepreneurs, it is essential that you continually generate new ideas in order to maximize the profit-making potential of your venture. Always set action plans to guide your marketing strategies as it will save you time and money.
Tuesday, April 28, 2009
American Small Business News
Wondering how in the world you can afford to invest in marketing for your small business? Learn why marketing is important for every small business and find out how to do so without breaking the bank in this exclusive expert interview with me...
Ask Entrepreneur
Ask an expert. Find answers. Discover how to. Have a burning business question? A panel of small business experts will answer your questions.
Sunday, April 26, 2009
Do You Have a Succession Plan In Place?
You're open for business, dressed for success and business is good. You've planned your company's day-to-day operations with budgets, flowcharts, key staff and contact lists. You have all the right people in place. But are you really prepared? Have you prepared for crisis management and is there a recovery plan in place?
You're open for business, dressed for success and business is good. You've planned your company's day-to-day operations with budgets, flowcharts, key staff and contact lists. You have all the right people in place. But are you really prepared? Have you prepared for crisis management and is there a recovery plan in place?
Although natural disasters are the most obvious and dramatic, such as Hurricane Katrina or Hurricane Gustav or the burning fires in Southern California or the deadly floods of the Midwest, companies should be prepared to resume business after a natural disaster, theft or the loss of a key manager.
Do you have a succession plan? A succession plan policy is a tool to help an organization prepare for planned or unplanned absences of the director, clarifying authority and decision-making and thereby maintaining accountability and ensuring stability. What steps would you take to transfer the business to a key employee or the next generation? It is a process of determining critical roles within a company. Failure to have a succession plan in place can cause monetary loss or worse, the loss of your business.
Succession planning includes:
Choosing your successor – this can be a key employee or a family member
Create a formal training plan – consider the critical functions of your business and train your successor in each of those functions to ensure he / she is ready to take on the new responsibility
Set a timeline – decide when you want to retire and set goals leading to your retirement. If you are in a natural disaster, make sure your plan includes steps to cover this.
After Hurricane Katrina catastrophe, I talked to several small business owners who lost their entire business; customer records, equipment, inventory and property. To make matters worse, some of them didn’t have their computer files backed up or a plan to relocate to a temporary facility so that their business would resume to some degrees. This was devastating! A local business owner died suddenly and neither his wife nor employees had a clue of how to run the business. Don’t be caught without a succession plan!
To learn more about creating a succession plan, read, ‘Succession Planning 101.’
Sunday, April 19, 2009
How Do YOU Handle Change
How well do you handle change as an entrepreneur? Change can be sometime difficult, especially if you weren’t expecting it. The most successful entrepreneurs not only embrace change, they actively seek it out knowing that greater fulfillment, success and growth is obtained when you can adapt to an ever changing market.
So, what do you do if you experience change in your business or personal life?
As a former business owner, I remember having to deal with a few situations where I needed to make quick and fast decisions. Though frustrating, I was able to evaluate the situations and make sound business decisions based on my evaluations. By doing this, I made a positive change in my operations which benefited my company and employees.
Some business owners find it difficult to adjust to change. Older business owners are reluctant to adapt to new technology or even new internal changes that could help increase sales and growth. As a project director and business consultant, I have witnessed many small business owners who were reluctant to change. For example, one client writes his invoices by hand instead of investing in software such as QuickBooks to manage his business.
Do you think he could benefit from making a few changes in the way he handles invoicing?
Perhaps you've grown from a one-person office to managing a staff of five or maybe one of your largest clients just announced that they no longer need your services. Whether large or small, sudden or planned, change is change!
To your business success,
Sylvia
So, what do you do if you experience change in your business or personal life?
As a former business owner, I remember having to deal with a few situations where I needed to make quick and fast decisions. Though frustrating, I was able to evaluate the situations and make sound business decisions based on my evaluations. By doing this, I made a positive change in my operations which benefited my company and employees.
Some business owners find it difficult to adjust to change. Older business owners are reluctant to adapt to new technology or even new internal changes that could help increase sales and growth. As a project director and business consultant, I have witnessed many small business owners who were reluctant to change. For example, one client writes his invoices by hand instead of investing in software such as QuickBooks to manage his business.
Do you think he could benefit from making a few changes in the way he handles invoicing?
Perhaps you've grown from a one-person office to managing a staff of five or maybe one of your largest clients just announced that they no longer need your services. Whether large or small, sudden or planned, change is change!
To your business success,
Sylvia
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