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More on Partnerships - Money Matters
Watch The Money
Have an agreement in place before you begin and have a clear understanding on how money will be spent and how much will be spent on business development. Most partnerships split when there are issues around money management.
When to Take on a Partner
Consider a partner if your business has grown beyond what you can handle alone or if you are looking for expertise to complete your offerings or perhaps looking for more working capital.
Diversity in the Workplace
A good mix of diversity in your company will give you a broader range of understanding and creativity in what you can offer your clients.
Give Thanks and Reflect
Economic indicators are looking up for the New Year, so be grateful this year for making it through, but start planning now on how to become more successful during the recovery ahead.
Consider Forming an Advisory Board
Consider forming an Advisory Board to help expand your business and gain expert advice. Sometimes all it takes is offering a monthly dinner meeting. A very small cost for a potentially big payoff.
Prevent Work Place Violence
Take Your Clients to Lunch and Ask Them How You Can Do Better
Celebrate the holidays by taking your clients to lunch. Take that time to learn more about their business and how you can do better in the coming year to help them achieve their goals.
Planning The Holiday Party
Especially during this difficult economy it is important to take time to celebrate the holidays and reward your employees who have helped you get through. Listen in for ways to celebrate without breaking the bank.
‘Tis The Season To Network
There are plenty of Holiday Events to mix and mingle with potential clients. Get out there and celebrate the season, and build those relationships for next year’s new business win.
Buy and Use Your Customers’ Products
Using your clients’ products and services not only makes a positive impression and builds loyalty, it also allows you to keep learning about your client and what you can do to help them improve.
Been There - Stop That - More Cliches To Avoid
We have all “been there, done that” - and we’re tired of hearing it. Make an impression by not using those old and trite turns of phrases like “thinking outside the box,” “to die for,” or simply “awesome.”
Pictures Paint 1,000 Words
You don’t have to be an expert photographer to use terrific and impactful images. Go to iStockPhoto, Getty Images or BigStockPhoto to find them.
Make Sure You Are Visible At Work
You have to let your boss and even your boss’ boss know what you are accomplishing in your position. Be assertive but not aggressive.
Successful Job Interviewing
Tips on how to ask or answer the right questions at the interview.
Congratulations to California First Lady Maria Shriver for Another Successful Women’s Conference
Congratulations go out to California First Lady Maria Shriver for another successful Women’s Conference. Great learnings came from the conference especially about leadership. We have said it many times on our show, you must provide bold leadership as an entrepreneur in order to inspire the best from your employees.
United Way HomeWalk
Join us tomorrow, Nov. 7th, for the 3rd Annual HomeWalk, a 5K walk to help end homelessness. More individuals and families live without a place to call home in Los Angeles than any other city in the nation. Help make a difference for these families. Register here.
Blackberry & iPhone Etiquette
Go old school and pay attention to the people around you. Turn off your blackberry or iPhone while in meetings and even while on business luncheons. If you must check for an important message, announce that you need to check periodically for the message and if it comes through, excuse yourself from the meeting to handle it.
Social Media - It’s a Must
1000% growth for Twitter & Facebook would be the 4th most populous county in the world. Get up to speed with Social Media, it is not going away.
More Tips on Finding and Hiring the Best
When looking at resumes look to see if there is a clear career path established with potential candidate’s past employers. Always verify the information including degree checks and dates of employment. And make those calls to their references - even if the interview goes well, verify that what you see is what you’re getting.
Finding and Hiring the Best
Just like pursuing new business, you have to be proactive to find the best employees. Ask your contacts who is the best person they know. Do not rely only on job boards or online tools. You might get lucky, but the better bet is to search out the specific candidate you want with the skill set your business needs.
Dynamic Logic’s Report on Effective Interactive Advertising
Listen in to the results from Dynamic Logic’s report on effective online advertising strategies.
Bankers - How To Find One
Most entrepreneurs are driven by their ideas and their businesses but don’t know how to speak with bankers. It is an important relationship - just as valuable as your most loyal client. So build a strong relationship with your banker and be honest about your financial needs. The best bankers out there will help work with you to find solutions. So if you are not getting the service you deserve, go shopping for a new banker.
Email Tips Part 2
More strategies to make sure your emails are effective
Email Tips
Strategies to make sure your emails are effective.
Reward All Staff - From the Most Senior to the New Hires
In order to determine how your business can run more efficiently, you need to listen to all your team members. Reward all levels of staff who bring forward suggestions for improvement - not just the senior team. Empower everyone in the organization to help improve your business.
Let It Simmer
If you are faced with a tough problem and can’t find a solution - take a break. Let your subconscious deal with it. You’ll find after a good night’s sleep or even a good run around the park, you’ll have a new perspective and probably a new solution.
Create Partnerships With Your Clients
You must become true partners with your clients and develop long-term relationships. Short term thinking simply for profits will make for short relationships and unsatisfied clients.
Entrepreneurs Think Differently - Always Looking for Opportunity
Large companies often reward employees for maintaining the status quo - Entrepreneurs simply can’t think that way. You must always look for opportunities or ways to improve systems or product offerings to remain competitive and nimble in the marketplace.
Leadership Skills for Entrepreneurs
Successful entrepreneurs must go beyond just doing the work and demonstrate leadership skills and qualities. Listen in for tips.
Reset Economy Means Reset Your Staffing Requirements
Tips to keep staffing levels at an optimum, incorporating part-timers, free-lancers and consultants.
Evalute Costs and Cut, Cut, Cut
The recession has forced us all to evaluate costs and see where we can cut, trim or eliminate a cost all together. But make it a habit to review costs monthly and be ever vigilant. It is easy to let recurring monthly costs continue without scrutiny as to the services purchased and if they are even a business need any longer. Don’t fall into that trap.
First Impressions Take Preparation
You only get one chance to make that first impression. Listen in for tips to insure you prepare your best to make your best impression.
More New Business Tips
Most importantly, the new business meeting better be about the client not about you. Listen in for more tips.
Women’s Conference - The Premier Forum for Women - Hosted by CA First Lady Maria Shriver
This year it is October 26th and 27th at Long Beach Convention Center. The Women’s Conference is the nation’s premier forum for women and is hosted by California First Lady Maria Shriver and Governor Arnold Schwarzenegger. The Conference, also known as The California Governor and First Lady’s Conference on Women, has grown from a California initiative for working professionals into an international network of women from all walks of life, backgrounds and perspectives, and a life-changing experience for the thousands of women who have attended. The mission of The Women’s Conference is to inspire, empower and educate women to be Architects of Change in their own lives and in the lives of others. This year the Conference has expanded to two full days of speakers, sessions and events.
Win More Business By Going Beyond Expectations
Always find out what the potential client is looking for and then go beyond what they expect to receive. For the advertising business that can mean finding a key new insight to drive sales.
Go Get Your Opportunities - They Won’t Come to You
Push beyond your comfort zone and network, network, network. The harder you work, the luckier you will get. Try this event from NAWBO-LA:
October NAWBO-LA on the Move (Encino)
Maria’s Italian Kitchen (Encino)
Tuesday, October 13, 2009
8:00am - 9:30am
16608 Ventura Blvd.
Encino California 91436 (view map)
818 783-2920
JOIN US and come experience firsthand the power of a community of women business owners who are dedicated to each other’s success! NAWBO-LA on the Move is a networking breakfast meeting especially designed for women business owners that meets once a month in various regions of Los Angeles. The meetings are held in an intimate setting to help you develop valuable business connections, expand your circles of success and build lifelong relationships.
Congratulations to Jane Wurwan, CEO of Dermalogica, a great example of how to grow your business
Congratulations to CEO Jane Wurwan who runs a $200 M/yr manufacturing company of all–natural cosmetics, who started in 1986 here in Southern California. Your story inspires us all!
Voice Mail Tips
Tune in for tips on leaving effective voicemail messages - hint - keep it short and sweet.
Dialing for Dollars
Calls from the CEO are still the best way to drum up business. Make those calls now before everyone gets distracted by the holidays.
Serve the Cause - Join the Board
Getting involved with non-profits is good for them and good for you too. Impressing fellow board members can get you in the door to do for profit business with them as well.
Entrepreneurship At Any Age
Start your business at any age. Typical entrepreneurs are aged 40, married with kids. And these days twice as many women than men are starting their own business. So go for it!
Client Relationship Management (CRM)
Tips to keep track of touchpoints with clients and prospects. Salesforce.com is a good resource.
Lima Beans and Business
Tune in for a funny story about pushing your lima beans under the mash potatoes. It applies to business too when you push the problems under the carpet.
“Reset Economy” Part 2
“Reset Economy” means “re-think” your offerings. Listen to your customers to learn what they are doing differently and align your offerings to match up.
What does “Re-Set Economy” Mean?
Tune in to learn what it means to be part of the “Reset Economy” - a term made popular by Jeff Immelt, CEO of General Electric.
Optimism - Share It - It is Infectious
Seems everywhere you read these days, the experts are finally optimistic about the future economy. How do you feel about the economic climate? Share your thoughts with us.
Small Business is Hiring
If you are looking for work, look to small businesses. Big corporations cut many jobs this past year - but with the economy turning around, it will be nimble small businesses that will be looking to hire first.
Smart for Life Cookie Diet
Good Health is Good for Business and using the Smart for Life Cookie Diet can help you maintain your weight, especially if you have to eat out often with clients. Go to their website here.
Time Flies By - Use Laser Focus to Succeed
Technology has compressed the work cycle and we are all working faster and more efficiently. To keep up the pace use your laser focus to meet fast paced deadlines.
Some Employees Love Working for Small Businesses
Small businesses can offer employees benefits the big companies can’t - access to the boss and the opportunity to grow with the company by wearing many hats.
Roy Choi - Kogi Korean BBQ
A great example of using Twitter - and following your passion. Listen in to Roy Choi’s story.
To Incorporate or Not to Incorporate - We Answer the Question
Lots of options, C-corps, S-corps, LLCs, listen in to hear the differences.
Academy of Business Leadership - Anna Ouroumian President and CEO
Academy of Business Leadership is a program to energize and engage young people to get excited about entrepreneurship. Anna Ouroumian, past NAWBO Rising Star award winner, leads the project. Check out their website here.
Role Models
Hear about some of the role models that inspired small business success.
Financial Planning
Learn about savings plans that benefit both the employees and the employer.
PR OR Advertising or PR AND Advertising
There’s a big difference between Public Relations and Advertising but you need both.
Balance - Strive for It In Your Life and Business
Listen in for tips on how you can “Have It All” even if you might not be able to “Have It All Right Now.”MBA Degrees - Raise your earnings up to 50%
Earning your MBA will help you earn more money. Many local university have well regarded programs including UCLA Anderson School of Management with the option of going to school full time or earning your MBA while remaining in the work force. Listen in to find out how.
What Does an Advertising Agency Do?
Listen in to hear all the benefits of using an advertising agency.
Business Ethics - Big Companies and Small
Your reputation is your most precious asset - don’t put it at risk with unethical behavior.
Business Ethics - Pay Your Vendors First
Pay your vendors even before you pay yourself. Vendors will come through for you when they know they will be paid on time.
When You Lose the Pitch
Determine what went wrong, but more importantly, follow up with the prospect 6 months later to see how things are working out with the selected vendor - you might have a chance to pitch again if things haven’t gone smoothly.
Working With and Motivating Millennials
Tips for hiring and working with the Millennials (Generation Y, aged under 28 years old).
Fraser Listed on the LABJ List of the Top Woman Owned Businesses
Secrets to successful sales presentations - listen to the client and their issues - don’t make the presentation about you.
SCORE With Experts Who Will Provide Advice on Your Business
SCORE - “Counselors to America’s Small Business” - offers toolkits for success as part of the “Accelerate Your Success Campaign” to help entrepreneurs start up and succeed during the recession, keep Americans employed and create new jobs. Access their website here.
Travis Air Force Base - We Support Our Troops
Betsy reports back from a day at Travis Air Force Base. Our troops and airmen are doing an incredible job and deserve our support - and not only that, they can help your small business with procurement opportunities through the Federal government.
Do Well By Doing Good
When you believe in the work you do, your work will show it. Fraser Communications does work in both the public and private sectors to ensure we are doing good in the world.
Work ON the Business, not IN the Business
Strategies to watch the details - delegate only with a firm understanding of all the particulars - without micromanaging.
Kill the Cliches
Great sales people and great leaders rely on language to persuade - so dazzle them with facts not catchy phrases.
Retire? No Way!
Running your own business allows you to stay in business as long as you want. There’s no age discrimination when you’re the boss!
Watch Where The Money Goes
Find a trustworthy CPA to keep you on track with tax filings and money management - but don’t just delegate it to them. Be actively engaged and monitor the checks going out the door.
No Paralysis by Analysis - Be Decisive
As the leader of your company you have to be decisive - even when you don’t have all the information available for you to review. Entrepreneurship requires risk taking - so be decisive.
Analyze The Allocation of Your Employees’ Time
Strive for 80% of your employees’ time to be billable back to your clients. Analyze how much time each client requires and use your analysis to determine your most profitable accounts - and model the others accordingly.
Wellness and the Cookie Diet
Looking and feeling your best is critical in making that first impression. A useful tool for keeping your weight in check is The Cookie Diet.
Mentors - How To Find Them
You can use anyone as your mentor to model your success - Read biographies and articles on the people you want to emulate. There are also formal mentor programs. A good resource is the StepUp Women’s Network.
Retained Executive Search Firms
Executive Search Firms can save you time and get you better candidates than you can on your own. They should have longstanding relationships with executives and candidates that are already established in the field and may already be gainfully employed.
Kudos to SEMPRA Utilities
Kudos go out to SEMPRA Utilities and their CEO Deborah Reed for purchasing more goods and services from small business enterprises than any other utility company in CA. Truly a small business champion.
Avoid Hiring the Wrong Person
Interview your final candidate personally and make the “reference” calls yourself. Listen closely to what past employers have to say. Sometimes it is what they don’t say that speaks volumes about potential candidates.
Elevator Speech - Your Business In 30 Seconds Or Less
Keep it short and sweet and make sure you include the “benefit”. Use the speech to entice and engage - It’s the start of a conversation with potential clients.
Improve Your Bottom Line
Focus on your current customers to improve your bottom line. Offer special pricing or rewards programs to your loyal customers and use free online survey tools to ask your customers what they need.
What’s In A Name?
Your name is the start of your brand and should convey the brand essence. You can always refine or expand the name when you add products or services.
Get Organized - Clear the Clutter
Every business owner must be organized and be “future” oriented. Don’t let the clutter block your creativity.
Salary Cuts First Before Layoffs
If this economy has you thinking about cutting staff, try cutting salaries across the board first. If that doesn’t help, use the opportunity to make sure you have the highest quality staff possible.
Quality Control - You Must Do It
Advice to make sure your clients stay your clients. In this economy you cannot give your clients any excuse to take their business elsewhere. We all are working harder for less, but don’t let quality slip!
Find the Best Employees
Even with unemployment numbers at record highs - it isn’t always easy to find great employees. Here are tips to find the best - don’t be passive, be assertive in your approach.
Business Credit Reports - Dun & Bradstreet
Your business credit report is as important as your personal one and they are not the same. Go to Dun & Bradstreet to get you business report.
Small Business Development Centers through the SBA
Centers are supported through the SBA and locations are throughout the United States including 6 lead offices in California. They offer free or low cost training and consulting services for your small business. Go to their website here.
Do You Have A Plan?
Business Plan help is available with many forms and templates provided to you for free at the SBA site.
Who Pays For Lunch?
Even if you’re having lunch with clients you already have, think about picking up the check.
Certifications - Are they worth it?
There are many certifications out there including Woman Owned Business, Small Business, Disabled Veteran Owned Business, Minority Owned Business and more. If you qualify and get certified it can make a difference. Click on the links for resource centers for each category.
Franchise Opportunities
There are lots of them out there, but be careful. There are pros and cons. The pros are the support and coaching you can get, the cons are the costs involved to get that support… and just like running any other business it requires a 100% effort on your part. Don’t expect a franchise to guarantee your success. Here is an article profiling the top 105 Franchises in 2009.
Technology - It’s not cheap but you have to have it
Don’t shortcut yourself by cutting corners on technology. Small businesses that use technology are more profitable than those who don’t. A great article on stretching your tech buck is here from Entrepreneur.
Motivate Your Employees
The best way to keep your employees motivated is to keep them informed. Renee discusses the company sponsored lunches she employees to keep her employees informed about what is going on within the company and the challenges ahead. She also takes the opportunity to recognize all the hard work the employees are doing.
Collections - The Uncomfortable Conversation
Strategies to ensure you get paid. You can’t sit back and wait in this economy. Make the phone call to ensure you get paid.
Watch Your Cash Flow
The biggest challenge for small businesses is managing your cash flow. Here are some strategies to help including establishing credit lines.
Procurement for New Business
The procurement process can feel daunting but it is certainly worth going through the paperwork. If you don’t sign up for procurement opportunities with the large corporations out there, they may never know you exist. A great example of a supplier registration page is at this Wellpoint page.
Healthcare - Don’t Drop It
Although it is not a legal requirement to provide health insurance to your employees, it just makes good business sense. Check with your broker, or if you don’t have a broker, go get one. They can find options for you so you can provide these services to your employees.
SBA Finance Sources
The new ARC loan is one option to help small business owners get through this difficult economic environment. It is a government guaranteed loan but does come with restrictions. Check out the SBA site to learn more.
Blogging - Once again Its Free
Be quick, to the point and provide useful information. Go to Blogger.com or WordPress.org for two companies that provide free blogging software.
Blogging - Find the Time
Blogging is essential - and its free. Even if people aren’t reading your blog, the Google spiders are and will increase your company’s visibility on the search engines.
