My First Year
"My first year in business was marked by market chaos, a crisis in consumer confidence, a shaky job market and a real conflict in my emotions - overwhelming excitement and overwhelming fear of the market I had just stepped into."
This is the story a colleague shared with a friend this past weekend.
"Whenever I turned around, new opportunities presented themselves, and I spent way too much time thinking about them. I didn’t understand the importance of maintaining focus, of not being distracted by the bad news all around me which was keeping me from building my business until it was able to sustain itself."
And by the way, the year was 1979.
But of all the challenges that he had that year, one stands out in his mind. It taught him an important lesson about what to do when you’re suddenly confronted with potential catastrophe because of conditions over which you have no control - something a lot of you are facing right now. [contd...]
In Chaos We Trust
Not a day goes by without headline news on the economy or some dramatic new business development which has far-reaching impacts on consumers, jobs, and our collective sanity. Or so it seems if you’re still reading the paper or watching TV news.
Too much of this insane reporting can get a girl or guy down. That’s why we heartily suggest turning off the news and not reading those ugly sections of your paper. Charlie Brown and my personal favorite - Dr. Who are so much happier choices right now.
But here’s what else we know—clever entrepreneurs understand that within this market craziness there lays business opportunity.
Economic upheavals create more opportunities for companies to move from the middle of the pack into leadership positions than any other time in business. [contd...]
Sell Your Socks Off
Has there ever been a time in your business career when it was more important to sell your socks off? Probably your shoes, too.
Every business needs to have this critical skill whether it’s you doing the selling or your staff. Have you done an assessment of your business’ current sales skills? There’s no better time than now.
Here are a few questions to ask to get your started. If you’re the sales “team” for your company, is sales in your A Skill Set? Are you taking the same approach that’s historically worked for you—and getting better or worse results? Have you been using the same sales approach since Harry Truman was in office--maybe you need a brush-up, eh? [contd...]
The $30,000 Handshake
A friend of ours was working with a client the other day, talking to him about his efforts to win over new clients. He’s a high end public relations guy and working with him costs a bit of change. Our friend asked him how many prospects he needed to see to get one new client. His answer - about 10. There was a whine in his voice.
He was pretty unhappy that it took 10 coffees/lunches/meetings to make one sale. He saw those ten meetings as a big old waste of a lot of his time just to land one client.
He’s not alone. We hear that same complaint from many of you. How can you get more efficient in recognizing the spot-on right client for you? How can you reduce the number of meetings you have to earn one new customer?
Here’s the advice our friend gave to this PR guy—and it’s the perfect advice for you, too.
To read the answer to his problem, click here.
Growing So Fast - NOW - It's Off The Charts
Sometimes it's hard to believe that something - TODAY - is growing like a six-year old on a growth spurt. With all the spoon feeding of doom and gloom we're getting from the media, bright spots should have a klieg light pointed squarely at them.
So consider this as Exhibit A...
One in six people are moving into this business model. Fortune 500 companies are moving to this model. More millionaires are made this way than any other. This industry's growth rates have been doubling year-over-year recently. Know what business model we're talking about? [click here]
The Importance of business - small business - just like you! Small business is one of the big “drugs” our nation runs on. It’s a wildly significant economic driver. Entrepreneurial-minded people account for a huge portion of our financial well-being. We…you and me…are a critical factor to get the whole U.S., not to mention the world, turned around. We’re not the only thing…but we’re pretty darn important. Read on...
The end of the year is coming. We bet that shouldn't come as a surprize, after all it happens every year. However, for many of us, year-end shows up before we're actually ready for it. Click here for a preview of what you need in order to be ready for an orderly end to your company's calendar year.
Are Higher Taxes Ahead?
Click here for our opinion.
Well, the last extension for your tax filing has some and gone. We hope that you didn’t have to pay much at all, legally, we might add. And we have a way to help make sure your future is tax accurate. For many of you a C Corporation just might be the answer to what ails your tax situation. Or you might have a C Corp and be using it to less than your maximum advantage. Check out our webinar for some answers to your questions.
Here is the second installment to all you need to know about using your "C".
As many of you know, running a business is about more than marketing, sales and clients. In order to take advantage of the benefits available to you, the paperwork can be the most important weapon that you have in reducing your expenses. Especially those Corporations and LLCs that have chosen Chapter C treatment. Click here for the first installment of this year's seasonal updates.
What is a Merchant Account, anyway?
There's more to credit cards than just Visa or Master Card. Selecting the right Merchant Services Provider is vital to the growth of your business. Here is an overview of some important points to consider. If you're a member, you'll find an in-depth webinar on all of the details you need to evaluate. Members can find the webinar in the Member's section under Recordings
What do your customers want? - Credit cards. We all use them to buy things for ourselves. But what happens if you want people to use them to buy things from you?
What made Warren Mad? - The disingenuous mis-reporting of "facts" is a standard political trick. In this case it could be fore shadowing another turn of the screw against small businesses.
Entrepreneurial checklist - Things for all of us to review before fall arrives.
Expenses- Part 1 - where to put them, how to track them? For more information, click here.
Expenses- Part 2 - where to put them, how to track them? For more information, click here.
Dazed and Confused. Probably all small business owners have felt that way at one time or another. Accounting will do that to your brain.
Bookkeeping 101 - debits - credits - cash flow - profit - balance sheet. As an entrepreneur you need to know all of these. Want to learn more about Bookkeeping? Click here for the webinar.
When is an Investment Like a Puppy? - Have you ever seen more than 25 people make investment decisions? All at the same time?
Checkbook access to your IRA - how would you use your money if you had the chance to invest when opportunity knocks?
Banking issues - you, your bank and your business bank - how do you handle your finances?
Lettuce & Plane Tickets and $11 gas - Crazy economic times, and how to uncover a veritable investment slush fund?
Changes to Mortgage Policies for Investors - a review of effective strategies to handle the latest changes in Freddie Mac policies.
What is Value Anyway? - Do you tell your clients about the value of working with you? Do you help them understand how you uniquely can solve their problem? Make their life better? You should.
Is there a Lay-off in your future? - A discussion of practical solutions to bring in multiple streams of income.
Why Some Companies Leap? - Small Businesses create between 60% and 80% of the new jobs in this country. Here's some insight into making your business better, much better.
Is your Web Site hurting you? - A review of the tactics you should use to make sure that your web site is driving traffic towards your business - not away.
Who is Your Bank Working for? - Your relationship with your bank sets the foundation for many critical things within yo8ur business. It's about more than just convenience.
Keep Your Good Name - a discussion about Identity Theft and how to minimize your risks.
Entrepreneurs - Are they different - is that a good thing?