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    Archive for May, 2008

    The plight of the employee turned business owner

    Saturday, May 31st, 2008

    Many of us find ourselves in the world of the entrepreneur because we got sick of working for someone else. We were doing what we loved, but no longer wanted someone else to tell us how or when. We ask family and friends their opinion, they say “you would be great, go for it!” so we quit our “JOB” and go home to open up shop.

    Everything seems great for a while. We are very busy working with clients, placing orders, making new contacts, and following up with prospects which brings us more clients. The cycle continues to grow as our time for other things shrinks.

    There are two common scenarios: (1) things taper off and we struggle to find clients or (2) most often what happens is we are so busy we can’t keep up with the demand for our services or the backlog of office work.

    As an employee, we didn’t have to worry about finding clients, following up, creating and selling products, bookkeeping, keeping track of client information or dealing with the mountain of paperwork, emails and office work that goes along with a business.

    How deep in are you? Are you just dipping your toes in? Maybe you’re up to your knees but still standing strong. Maybe you are treading water but are still ok, or are you in over your head and drowning in follow up, client files and tax information?

    No matter how deep in you are it’s important to stop thinking like an employee and start functioning like a business owner.

    Many of us started our businesses to make more money, own our time, have more time for family and friends and enjoy life more. Have you achieved this yet or are you stuck in a cycle of work that has no end?

    Here are some reasons to make the mindset change from “employee” to “business owner:”

    • You will love your business again

    • You will make more money

    • You will have more time for the things you want to be doing

    So how do you stop thinking like an employee and start living like a successful business owner?

    First, think about the business you used to work for (hopefully one you enjoyed working for) and put yourself in “boss mode:” what would they do first, what would they delegate, what was their process for assigning projects. Now that you know what goes into being a business owner, I bet their choices make more sense.

    Now take yourself out of the business and think of yourself as a customer. As a customer what could be improved, changed, eliminated or implemented? What would make you want to frequent this business, and continue to purchase their products and services?

    And finally the secret all successful business implementation, the 80/20 rule. This is truly a golden gem in your jewelry box of success for business and life.

    If you are ready to stop the employee mindset and truly own your business, Ask Coach Kate the business coach how by calling or emailing today.


     

    Guest Author: Leeann Simons from At Peace with Food

    Saturday, May 31st, 2008

    Don’t Eat Something Because “It’s Good For Me”
    by Leann Simons, At Peace with Food

    Last weekend I went to the movies with my son. Even though we weren’t seeing the same movie (my tastes don’t quite mesh with my 16-year-old), we did drive over together, and I count that as bonding. As I was sitting in my seat, waiting for the previews, I overheard a conversation a few seats down from me. It went a something like this:

    “Every night I sit down with my bag of dark chocolate bits and I eat until I am full and can’t eat another bite. I know they are good for me and I’m supposed to eat them, but I don’t even like dark chocolate!”

    This was sad to me on so many levels, perhaps the saddest being that she didn’t like dark chocolate!

    Let’s look at what this woman was saying, and why it is not only sad, but also very unhealthy.

    First, she is sitting down every night and eating until she can’t eat another bite. To be sitting down, probably in front of a television set, and eating is not a good habit. I call this type of eating “unconscious eating,” because you aren’t aware of how much you consume. A movie theatre is another example. How often have you bought the large popcorn and it was finished before the previews? I call those “wasted calories” because you probably didn’t even have a chance to enjoy them.

    She did say she ate until she couldn’t eat another bite-so perhaps she wasn’t in front of the television. Yet she was making a point to eat until she was so full she “couldn’t eat another bite.” This is another unhealthy behavior. Chances are that if you eat until you are stuffed, especially before going to bed, you are still going to feel full in the morning. When people overeat at night, they tend to skip breakfast the next day, setting themselves up for a cycle of skipping meals and then eventually overeating because they wait too long. While this behavior won’t hurt you if you only do it occasionally, this woman sounded like she overate every night, and I’m guessing she did not eat regular meals the rest of the time.

    Let’s leave the chocolate part for last; let’s look at the “I know they are good for me, but I don’t like them” comment. This is an unfortunate reason to eat food: because it is good for me. The primary reason you should eat something is because you like the way it tastes. The fact that certain foods have health benefits is a bonus. But to just eat something “because I should” is disturbing. Folks who do this wind up not appreciating all the wonderful foods, tastes and flavors found in meals and snacks. Unfortunately, food becomes like medicine-you don’t take it because you like it, you eat it because it’s good for you.

    Now, let’s address the last comment “I don’t even like dark chocolate.” Never mind that the research suggesting dark chocolate may be heart healthy. Never mind the fact that I, personally, am only starting to accept that there are people who don’t like dark chocolate (and I can still be friends with them). The amounts recommended are less than 2 ounces per day, and the plant chemicals found in the dark chocolate can also be found in other fruits, like apples.

    But to force-feed yourself dark chocolate while you don’t like it? This makes food more than medicine-it makes food a punishment.

    Please don’t punish yourself by forcing foods into your mouth you do not like. Food is one of the many pleasures we have in our lives. Of course there are many reasons to eat fruits and vegetables, chicken and fish. And there are also good reasons to eat cake, ice cream and chocolate.

    Just don’t make the reason “because it’s good for me.”


     

    Setting up your back office to ensure success in your small business

    Tuesday, May 13th, 2008

    Ever wonder how the big guys get big? Of course there are many things that factor into the equation, but one of the greatest contributing factors is their level of organization.

    Being organized makes you more productive and effective in your business. It allows you to use information in ways you may not have thought of before. But you can’t use the information if you can’t find it on your desk, in your car, or on your computer.

    You must get organized in order to grow your business, bring on interns, partner with a Virtual Assistant, and hire staff. How can anyone complete a task you assign if they can’t find the information or if you can’t find the information? Being organized is not about being neat: it’s about being successful.

    One element that is true for any successful business of any size is being organized in the back office. Big businesses get big by running like a well oiled machine, and if you want your company to grow you need to oil it. If you’re not organized – and I mean more than just having your filing cabinets neat and tidy - you are missing out on a huge opportunity and unknowingly slowing your business growth.

    Let’s take a look at some questions on this topic…

    Sue from San Antonio asks:

    I hear a lot about organizing my back office. I have filing cabinets, my desk is clean and I work with a bookkeeper. What am I missing?

    This is a great question that many business owners need to ask themselves. There are many ways to organize the information your business produces. No one way is right for everyone so you need to find the solutions that fit your business’ needs. That being said, let’s look at additional ways to get organized.

    Sue mentioned her filing cabinets, and it is very important to have hard copies of certain paperwork. It’s also great to have a system to get that paperwork filed in a way that you can find what you are looking for … fast!

    But if you are only using a filing cabinet you are missing out on great opportunities available in this virtual age to organize your business and yourself. My question for Sue is what type of CRM (client relationship management) system are you utilizing? How are you maximizing your organization of information? We will talk more about this but first I want to get to this question …

    From Lea in Chicago:

    Kate, I am so unorganized. I just don’t know where to start. I have never been an organized person; I am more of a creative type. Things are really getting out of control – please help.

    Lea, I can completely appreciate where you’re coming from! I am a thought person also, and I can understand WHY it is important to organize information. I truly did not get the HOW to organize it.

    The first thing I did was hire some help in this area. First was an organization consultant who came to my home office to get things physically organized, then I hired the most hyper, anal organized VA I could find. The great thing about her is she is open in sharing info in a way that my disorganized mind could comprehend – it made sense and now I am organizing every bit of info I can!

    Lea, to get to the nuts and bolts of what I did I started with Calendars. I love my online calendar. It allows me to have numerous calendars all in one central location and I get email or pop up reminders at specific intervals of my choice. This allows me to stay on top of my schedule, my appointments, and my family obligations all in one place. I can even share it with my VA, husband or business partner – whomever I wish. We can even have group calendars which allow all the team members to enter their schedules so we know what is going on in different departments. It’s amazing how powerful this ability is – and it’s free!

    Another critical tool in any organizational box is the DATABASE. I am not a techie and I don’t want to be. I also don’t have patience for difficult to use tools so I was thrilled to discover with the help of my hyper organized VA a web based database service. Here is why I think this tool is crucial:

    You need to collect information about your clients, customers, prospects, past customers, where customers come from (web, ad, referral), how long has someone been a customer, how many times have they purchased, what do they purchase, what item or service is your top seller, worst seller, etc. We have and collect a lot of information but it does not help us maximize our efforts in growing our business unless that information is easy to access and easy to manipulate. A good database allows you both.

    I actually use a database service that makes it easy to implement the information I am organizing via the database to be part of my CRM. It allows me to keep a file on each client, update as needed and move that information into the appropriate database if need be.

    Other things I love about the service I use is I can email my contacts, print mailing labels, filter and print any information I need (names, phone numbers, and time zones say). Plus, it allows me to customize my contact forms for my website, landing pages, squeeze pages, etc., and all the services are unlimited for only $10 a month.

    Did I mention it will generate the HTML code for you to cut and paste onto you site – that’s right! It’s amazing software at an incredible price and it really is that easy to use.

    The other way to play like the big boys is in your phone service. It’s no longer incredibly expensive to have an 800 #, and you can choose an 800 # service provider that suits your business needs. If you need an 800 # to service customer care calls, FAQs or take orders, an inbound service might be a good fit for you and many services start at $30 a month.

    If an 800 # with prompts and messages will serve your business better good services start at $10 a month.

    All services have set up fees and vanity number fees, but most are reasonable. Some tips when setting up these services…

    • If you are recording the voice mail greeting(s), write out your message prior to recording. Make sure you are in a quite place and on a good quality phone. Be sure to listen to your message since this is the first impression many potential customers will have of you.

    • If you hire an inbound call service be sure to include every question possible; it’s better for them to have too much info to choose from than too little. Take the time to think through how you want an inbound call to go and write out the call.

    Since we’re talking about the phone, let’s not forget the power of Follow up calls and customer service calls. Again, you need to have this information organized so you know who you have called so you don’t double call some clients and miss other clients completely. It’s also important to include Time Zones with phone number info – if you are on the east coast you don’t want to call a potential client at 7AM. Having this information organized is crucial to the success of growing your business.

    Email campaigns are another great opportunity to grow your business and stay in touch with your customers. However, if you’re so disorganized you have e-mail addresses stored in other e-mail messages, in files, on scraps of paper or sticky notes, on business cards, on the back of someone else’s business card, etc., you’re e-mail campaigns will never be successful. How can you effectively get the information into one place? There are several options but you want the info at the very least into an email campaign service – many start out free for under 50 contacts. They are easy to use, you can track who opens the email, how many times they open it, what links they clicked on, how many times did they click on a link, etc.. In addition, you can create sub-lists, create different lists, create different campaigns with different business logos, etc. If you’re like me and have more than one business going at a time, having access to multiple lists within your main database of e-mail addresses is a good thing.

    As your business grows it becomes all too clear why having all this information organized is critical to your business success. I can assure you it is better to get it organized when it is only 40 people instead of 4,000 people.

    What if you’ve been in business for a number of years and have 4,000 contacts — what do you do then? You’ve got a couple options:

    1. Moving forward implement a database service to create contact lists that allow you to filter information to make it more useable.

    2. Little by little go back and enter your past contacts into said database to make all your years of effort more useful moving forward.

    3. Send out a contact form you created in the database program in a email campaign to all your contacts, asking them to update their info and make fields required. Most people will do as you ask them to.

    Presto! Instant database with most of your current customer info in a format that will help you understand what your customer wants, what motivates them to purchase, how often they purchase and what mode of communication they prefer – it all depends on the questions you ask.

    Being organized makes you more productive and effective in your business. It allows you to use information in ways you may not have thought of before. Remember, can’t use the information if you can’t find the information!


     

    Networking for Success - Are you sabotaging your results?

    Monday, May 5th, 2008

    For many of us, networking is crucial to the success of our business. It’s how we meet potential clients/customers, as well as learn information from our fellow entrepreneurs that can help propel us forward.

    So how is your networking going for you? Are you getting the results you want? How is your ROI for your networking time?

    Let’s look at what may be sabotaging your efforts.

    Here are a few “must do” actions for effective networking:

    Business Cards

    This is one of the most important tools in your networking kit. Be sure you have your cards with you at all times and ALL your contact information is included, including full name, name of business, website, phone and email. It’s amazing to me that people do not include all these pieces. Recently, I was emailing follow ups and several people did not have their email on their cards. Well, I did the work of looking up the email addresses off their websites, but not everyone would have bothered and I am sure many do not. By not having full contact info, you may be missing opportunities.

    The One Minute Pitch

    This is the idea behind networking: to share your business info with others in a way that will make them want to continue the conversation. Is your 1 minute pitch memorable, interesting, thought provoking? What about your pitch will they remember?

    Pipe Down and Listen!

    Many times we are so excited to share our business or other useful information with others we forget to come up for air. We go on and on about us, our business and additional opportunities, and walk away thinking it was a great connection. It was for you but what about the other people? Did you learn about what they do? What about their business makes you want to contact them? Networking is a give and take relationship, and it’s important to listen just as much, if not more, than you are talking. And if you have more info to share with people, it should be done in the follow up.

    Think of Others

    This is where true networking magic can happen. If you are able to position yourself and your business to help others, people will remember you. Think of how you react to someone who says “how can I help you?” or “what can I do for you?” Especially if they are sincere. Your first reaction is probably surprised amazement, since entrepreneurs are not accustomed to getting offers for help. By finding ways to help your fellow business owners, you are building relationships and opening doors for follow up opportunities.

    Dress or Success

    This does not mean a power suit (unless this is appropriate for your target market) but you want to be sure to be professional. I have seen both ends of the spectrum when it comes to dress at networking events, and what I have seen work best is casual professional attire. It shows you are serious about your business, but not intimidating. Think about who you are more likely to do business with: someone in yoga pants or someone in a pulled together outfit?

    Follow up

    This is the key to networking: if you wait around for others to contact you, your missing the success boat. Networking gives you the contact information and follow up gives you the client. Without timely and effective follow up, all your networking efforts may be useless. Sending a thank you email to those who gave you their card is a great way to connect in the days following the initial contact. Within that email are you creating opportunities for further connections, say for coffee or lunch to discuss potential partnerships or joint ventures? Following up allows you to remind them about your business and open the door to working together.