To become a successful entrepreneur you basically need these qualities- Innovation, Hard work, Positive attitude, Confidence, Determination and Courage to take risk.

But, no two entrepreneurs are alike. Some of them take more risks than others, while few prefer to play completely safe. Quality is the top most priority for few entrepreneurs but for others quantity is more important. So in this article I have tried to divide the entrepreneurs in to nine animals on the basis of their working styles and how they correspond to a particular animal. Without further ado here is the list.

Rooster- These are the entrepreneurs who start their business at a very young age. They are basically the self-starters who do not need any kind of instructions. Entrepreneurs in this category always consider themselves as Perfectionists and are most affected by ego problems.

Rat- These are the hardest working entrepreneurs. Work is their topmost priority due to which they can’t create a perfect balance between their personal and professional life. They take a lot of time to open up with others and always prefer to remain in their comfort zone.

Goat – These entrepreneurs can’t take quick decisions. They always remain confused and depend on opinions of others to take their decisions. They are the most sensitive and take things to their heart. They are the creative persons and can’t perform well under pressure.

Monkey – Entrepreneurs in this category are the attention seeking entrepreneurs. They can’t sit idle and always need something to work upon. They are creative and problem solvers but get bored very quickly. These entrepreneurs are always ready to learn new things.

Snakes – They are basically Solo Entrepreneurs. They do not have any employees and prefer to do all the work themselves. It doesn’t mean that they do not work in teams; they do but prefer to keep a distance and work like a virtual team member.

Ox- These entrepreneurs are the slow learners. They are hard working, persistent and have a lot of patience. They need lot of time to take any decision but after taking the decisions they stick to it in all conditions.

Dragon – These entrepreneurs are full of energy and leadership qualities. Their aim is to grow fast. They are very optimistic and always remain full of enthusiasm. The entrepreneurs under this category can make you crazy with their wildest ideas.

Horse – These entrepreneurs know how to use their resources effectively and are very good in handling money. They can’t focus on their goals for a longer period of time. They love meeting people and are very good in creating effective business networks.

Pig – These entrepreneurs are the most productive entrepreneurs. They believe in long term investments. They are goal oriented and always complete the project they start with great enthusiasm.

So these were the nine categories I found suitable to divide the entrepreneurs. Do you know any other animal we can add to the list? We’d love to hear about it. Feel Free to share your opinions in the comments.

About the Author:

Gagandeep Singh is working for Fortepromo which creates high quality Promotional Products that help companies to promote their brand in market.

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Most female entrepreneurs probably strive throughout the year to improve their business’ efficiency, strategize for growth and meet market needs. However, the New Year provides women business owners with an opportunity to slow down and really examine the structures on which they’ve built their companies, and to work strategically to better those structures for long-term success – in whatever way they define it.

A recent study from Jane Out of the Box, an authority on female entrepreneurs, reveals there are five distinct types of women in business. Each one has a unique approach to running a business – and therefore each one has a unique combination of needs. This article outlines two of the five types and provides some advice for continued success and satisfaction as they ring in 2010.

Accidental Jane is a successful, confident business owner who never actually set out to start a business. Instead, she may have decided to start a business due to frustration with her job or a layoff and then she decided to use her business and personal contacts to strike out on her own. Or, she may have started making something that served her own unmet needs and found other customers with the same need, giving birth to a business. Although Accidental Jane may sometimes struggle with prioritizing what she needs to do next in her business, she enjoys what she does and is making good money. About 18% of all women business owners fit the Accidental Jane profile.

Accidental Jane business owners report feeling confident and fulfilled in their work, and they appreciate that their businesses provide them with a great work-life balance. On the other hand, Accidental Janes often say the ebbs and flows of business can be stressful. Sometimes the workload is overwhelming, and other times there doesn’t seem to be enough work. To obtain greater satisfaction starting in 2010, Accidental Jane business owners may want to consider the following tips:

Maintain an even workload. Accidental Jane’s marketing efforts usually run opposite her workload. For example, if she has several projects to work on, she slows down her marketing efforts because she doesn’t have time for more projects. On the other hand, when she nears completion on current projects, she starts marketing to find new clients to fill her time (and keep her income steady). How does a business owner maintain an even workload?

* Create a “non-negotiables” filter. Make a list of items you absolutely must have. These items may be: one work-free day per week, the ability to take a day off to care for loved ones if the need arises unexpectedly, projects that require creative stretch or clients with whom it is enjoyable to work. If a new opportunity comes up, but doesn’t allow Accidental Jane to have all the things on her must-have list, then she can pass it on to someone else. This way, Accidental Jane will only take on projects that she’s sure to enjoy and that are in keeping with her standards for living and working.
* Design an effortless, steady marketing system. Networking systems exist that don’t take up much time, yet allow for a steady stream of marketing opportunities. This is just right for Accidental Jane, who doesn’t want to spend too much time marketing, but who will undoubtedly appreciate a steadier workload. Putting a certain amount of time into social networking outlets such as Facebook, will allow Accidental Jane to market with little effort and steady results.
* Hire help. Some Accidental Janes are reluctant to hire help, in part because they enjoy their freedom and don’t want to be tied to employees or dragged into the politics they left behind in the corporate world. Hiring a virtual assistant for several hours per week, or a personal assistant to take care of the menial chores Accidental Jane doesn’t enjoy anyway, can take some of the smaller tasks off her hands, leaving her more time to do the work she loves.

Merry Jane. This entrepreneur is usually building a part-time or "flexible time" business that gives her a creative outlet (whether she's an ad agency consultant or she makes beautiful artwork) that she can manage within specific constraints around her schedule. She may have a day-job, or need to be fully present for family or other pursuits. She realizes she could make more money by working longer hours, but she's happy with the tradeoff she has made because her business gives her tremendous freedom to work how and when she wants, around her other commitments.

Merry Jane loves the way her business fits into her life. It gives her the flexibility to take care of the myriad other tasks and responsibilities she must complete, and it gives her a creative outlet at the same time. On the other hand, a majority of Merry Jane business owners said they would love to make more money. In 2010, Merry Jane can increase her business’ revenue by following some simple advice:

Increase marketing and sales. Defining a business’ target market and then marketing to that group is key to increasing a company’s bottom line. It sounds simple, and it is; consider these strategies before launching a huge campaign:

* Identify the target and form a clear message. Merry Jane must decide exactly who she wants to sell to, and why those people are likely to buy her product or service. A clear target and marketing message provide maximum efficiency for any marketing activity. To best define the market, ask existing customers why they chose Merry Jane’s company, what they enjoy about the company, and how the rates compare with other companies.
* Select a fitting marketing method. Traditional marketing that includes a call to action can bring customers in fast, but it’s also expensive. Traditional sales techniques require an investment of time that a Merry Jane may or may not want to invest. Networking gives Merry Jane entrepreneurs a chance to meet with other business owners and to sell services face to face. Affiliate marketing provides opportunities to work with other entrepreneurs and to earn commission and business. Referral marketing (in which existing customers earn a reward if they refer an acquaintance) is an easy way to gain new customers without much work, but it does require a strong existing customer base.
* Leverage existing customer relationships. Create programs in which customers get rewards after spending a certain amount of money. Offer an auto-ship program, where customers automatically receive (and pay for) a product, on a weekly, monthly or annual basis. Referral programs gain new customers with little output.

A New Year is an excellent time to focus on opportunities for reaching unprecedented levels of satisfaction for business owners, in whatever way they define it. No matter how successful the previous year has been, the next year can be even better.

About the Author:

Michele DeKinder-Smith is the founder of Jane out of the Box, an online resource dedicated to the women entrepreneur community. Discover more incredibly useful information for running a small business by taking the FREE Jane Types Assessment at Jane out of the Box. Offering networking and marketing opportunities, key resources and mentorship from successful women in business, Jane Out of the Box is online at www.janeoutofthebox.com

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Article Contributed by Michele DeKinder-Smith

As a business becomes increasingly successful, an entrepreneur must examine her business’ changing needs and implement a system for meeting them. Booming success often means hiring a team of people to see to the details so the entrepreneur has time to run the business. Creating a winning team is a bit more complicated than just asking a bunch of people for help – is there a right way to do it? Is there a way to go about it that will leave members of the team, as well as the owner, feeling fulfilled while the business thrives?

A new study from Jane Out of the Box, an authority on women entrepreneurs, recently revealed there are five distinct types of women in business. Each of these five types has unique approach to running a business—and as a consequence, each of them has a unique combination of characteristics and factors. This article profiles three of the Jane “types” and the different ways they may handle hiring a team.

Jane Dough is an entrepreneur who enjoys running her business and makes good money. She is comfortable and determined in buying and selling, which may be why she’s five times more likely than the average female business owner to hit the million dollar mark. Jane Dough is clear in her priorities and may be intentionally and actively growing an asset-based or legacy business. It is estimated that 18% of women fall in the category of Jane Dough.

To Jane Dough, business is business. In her world, systems and efficiency share the throne. When hiring a team, she is likely to choose members based on their specific skill sets and how those skill sets and their exacting implementation will affect the system she plans on using.

Pros and cons:

Pro: Because Jane Dough is a pragmatic business owner, she’ll choose team members who know what they’re doing, and do it well.

Con: Because Jane Dough is so focused on pragmatism, she may hire team members who don’t get along well with each other – personalities aren’t as important to her as efficiency and a job well done. But down the road, conflicting personalities may negatively impact the system she loves.

Pro: Jane Dough’s fast pace means she gets a lot done and doesn’t waste too much time waffling on decisions about whether to hire someone.

Con: That fast pace is enough to make anyone’s head spin, and if Jane Dough isn’t careful she may overlook a candidate with better long-term potential in favor of someone who fits the bill right now – putting her future self at a disadvantage.

Merry Jane. This entrepreneur is usually building a part-time or “flexible time” business that gives her a creative outlet (whether she’s an ad agency consultant or she makes beautiful artwork) that she can manage within specific constraints around her schedule. She may have a day-job, or need to be fully present for family or other pursuits. She realizes she could make more money by working longer hours, but she’s happy with the tradeoff she has made because her business gives her tremendous freedom to work how and when she wants, around her other commitments.

Because Merry Jane is “freedom-focused,” she’ll need a team that allows her to continue working as many or as few hours as she wants to, which means that she’ll have to be flexible with their schedules, too.

Pros and cons:

Pro: Merry Jane loves her freedom, so she’ll hire dependable people who can do their jobs without a ton of direction.

Con: Loving her freedom can come at a price – Because her business may not be her first priority, communication may slip from time-to-time. If her team is unclear in what they need to do or if they take too much accountability, this can create problems for Merry Jane.

Pro: Hiring people means that Merry Jane can delegate some of her work and therefore have even greater flexibility.

Con: Creating a team also adds responsibility, of which Merry Jane already has plenty – she’ll need to face payroll, meetings, e-mails and phone calls that she didn’t deal with before – and this may mean more administrative work than she anticipated.

Tenacity Jane is an entrepreneur with an undeniable passion for her business, but who is struggling (a little or a lot) with the business’ financial performance. As a result, she’s working longer hours and making less money than she’d like. Nevertheless, Tenacity Jane is bound and determined to make her business a success. At 31% of women in business, Tenacity Janes are the largest single group of female entrepreneur.

Tenacity Jane’s greatest asset is her attitude. She may feel overwhelmed at times but she keeps on keeping on because she truly believes in the business she’s building and she wants to make it work. As she seeks to hire a team, Tenacity Jane will seek people with great attitudes like her own.

Pros and cons:

Pro: Tenacity Jane feels like she can make this work, despite having faced many business challenges – she has a positive, “keep chugging” attitude.

Con: When hiring a team, attitude isn’t enough. Tenacity Jane may be drawn to people who are also enthused about her business, but does she take the time to (and does she know exactly how to) evaluate their skills, experience, and preparedness to do the work at hand?

Pro: Tenacity Jane loves her business concept and can see the big vision of what it can someday be, which may include a large team sometime down the road.

Con: Because she is focused on the “ultimate” vision, Tenacity Jane may not map out the path to get there step-by-step. If this happens, she runs the risk of hiring too many people too soon (and then not being able to retain them) or hiring them in the wrong order to maximize business growth.

Whether hiring a team is strictly business, or it’s a small part of a grand scheme, it’s a big deal. Women entrepreneurs shouldn’t go into it without a solid idea about who to hire, what they’ll do and how they’ll do it – and how all of that will affect the business in the short- and long-term. From Jane Dough to Merry Jane to Tenacity Jane, business owners must get a plan in place before hiring to ensure the step from one-woman-band to marching band sounds great.

About the Author
Michele DeKinder-Smith is the founder of Jane out of the Box, an online resource dedicated to the women entrepreneur community. Discover more incredibly useful information for running a small business by taking the FREE Jane Types Assessment at Jane out of the Box. Offering networking and marketing opportunities, key resources and mentorship from successful women in business, Jane Out of the Box is online at www.janeoutofthebox.com

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Article Contributed by Michele DeKinder-Smith

Every female entrepreneur dreams of the day her preparation meets opportunity and her own good luck is born. In her dreams, she knows exactly what she’ll do when presented with an opportunity, and exactly how the cards will fall when she takes it. But in real life, opportunity often seems to come out of nowhere and all the confidence she felt in those dreams disappears as she’s faced with the very real question: how do successful women decide what to do with new opportunity?

A new study from Jane Out of the Box, an authority on women entrepreneurs, recently revealed five distinct types of women in business. Each of these five types – each Jane – has a unique approach to running a business. As a consequence, each of them has a unique combination of characteristics and factors.

This article profiles two of those Jane “types” and the ways they may respond to a new opportunity.

Go Jane Go is passionate about her work, and has no problem marketing and selling herself, so she has plenty of clients—but she’s struggling to keep up with demand. She may be a classic overachiever, taking on volunteer opportunities as well, because she’s eager to make an impact on the world and may really struggle saying “no”. Because she wants to “say yes” to so many opportunities, she may even be in denial about how many hours she actually works during the course of a week. During the worst of times, Go Jane Go may tend to run herself ragged or feeling guilty about all the things on her “to do list” that aren’t getting done quickly enough to satisfy her exacting demands.

Although, as a Go Jane Go, you might be tempted to take on any new opportunity because you know you’re good at multitasking and you feel obligated to make it work, wait! Think about whether you really want to get into a new venture and all that comes with it.

Because you’re so good at what you do and you know all the fine details of your business and how it runs, you have a hard time delegating sometimes. If you know you’re going to take on this new opportunity and then feel overwhelmed because you won’t feel comfortable assigning any of your workload to someone else, maybe this isn’t the time to do it.

Because you’re such a hard worker and demand perfection from yourself, you work long hours. Do you have the time to deal with any new activities this opportunity will undoubtedly create? Before you accept this challenge, use some of your valuable time to determine whether the new opportunity is realistically feasible, given your time constraints. Especially, consider the cost to yourself in accepting the new assignment – will you push yourself to your breaking point? If so, it’s OK to let the opportunity gracefully pass you by – because of who you are, there’s undoubtedly another right around the corner.

If it turns out that the new opportunity will work with your calendar, commit to delegating wherever possible – and make sure you’re also taking care of yourself in the process.

Accidental Jane is a successful, confident business owner who never actually set out to start a business. Instead, she may have decided to start a business due to frustration with her job or a layoff and decided to use her business and personal contacts to strike out on her own. Or, she may have started making something that served her own unmet needs and found other customers with the same need, giving birth to a business. Accidental Jane enjoys what she does and is creating a satisfactory level of income.

Taking on a new opportunity as an Accidental Jane may mean transitioning into a different Jane type (often Jane Dough or Go Jane Go). That means making your business more of a focus in your life. Before saying “yes,” determine if that’s what you really want.

A new opportunity may mean putting more time into your business. As an Accidental Jane, your lifestyle is very important to you.

If the opportunity is very appealing to you, ask the question: How can you make it work on your terms? How can you structure the work so that it doesn’t impinge much on your time? Can you let go of something else or can you delegate part of this work?

Further, ask yourself: Am I charging as much as I could? Accidental Jane may sometimes be a little out of touch with her industry’s going rates. As workload and opportunities creep up, she should continually think about increasing rates to make the work more profitable.

Finally, if new opportunities get you excited, start building your company for the long-term vision so you can maintain your lifestyle while also taking on more work. Envision how your company might look in 3 years if you say yes to the kinds of opportunity you are facing right now. If what you see in your vision excites you, begin building a plan that will help you manage that future business without letting it take over your life. If what you see doesn’t excite you, because you are simply happy and content with your business as it stands today, then be prepared to say no to an opportunity at least occasionally.

Whether you’re a Go Jane Go or an Accidental Jane, it’s important to know what you’ll do when you’re presented with an opportunity. Explore all the implications and possibilities – then decide whether you want to take this opportunity and deal with the outcomes.

About the Author
Michele DeKinder-Smith is the founder of Jane out of the Box, an online resource dedicated to the women entrepreneur community. Discover more incredibly useful information for running a small business by taking the FREE Jane Types Assessment at Jane out of the Box. Offering networking and marketing opportunities, key resources and mentorship from successful women in business, Jane Out of the Box is online at www.janeoutofthebox.com

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Article Contributed by By Karen Armon

Question #1: What is your motivation for becoming an entrepreneur?

Your motivation to become an entrepreneur must be strong enough to carry you through the ups and downs. Wanting to work part time while taking care of your children, trying to work as a 1099 until a better opportunity comes along, or having nothing better to do are poor motivators for starting your own business.

Question #2: What is your background and experience at work?

If your experience is in a back-office function or you've never had the experience of working directly with customers, you need to think about how you will acquire these skill sets. This does not mean that you need to master the art of cold-calling, but you must know how to close a deal.

Question #3: What strategies and tactics will you use to find leads?

More than anything, you need to hit the ground running. You need to find potential customers fast so that you can make deals happen. My advice is to delay building your marketing materials - including your website, brochures, and tools - until you know where and how to reach potential customers.

Question 4: How will you address the three big challenges of Money, Product and Pricing that every new business faces?

Under capitalization is the biggest reason company's become bankrupt within the first year. You need to know how to finance your start-up. Personal cash reserves, credit and loans from family and friends are the most common methods.

Building a product or service includes the time and money needed to develop these materials and you need clarity about what your target market wants and needs. Take the time to learn through your network before you spend large amounts of money on prototypes that may not sell.

Pricing is the hardest challenge of all. My advice is to slightly under price your product and/or service to enter the market and as you prove your worth and brand, you can raise your prices over time.

Question #5: What course of action will you take to make your business successful?

This question goes to the heart of your commitment and what you are willing (and not willing) to do to make you a successful entrepreneur. Going into any new venture requires you to evaluate your discipline and diligence as it relates to your desired level of success.

Question #6: What are you going to do to market yourself?

Marketing yourself is all about the process of gathering strangers into your network and bringing them to a state of interest. This requires strategic planning that enables potential customers to engage in you, experience your value proposition and build trust before turning them into a potential sale. Building a website or a social networking site is not enough.

Question #7: How long will you stay involved in your business before you receive a consistent revenue stream?

Given that most businesses take nine months to a year to build a healthy and consistent revenue stream, you must look at your finances and determine what you will do in the meantime. Key questions include: How will you supplement your income requirements? What can you do to drastically cut your break-even point? How will you make up the difference?

There is also a personal side to building a business. You must transition from an accidental entrepreneur to taking your business seriously in order to be successful. And your family must be willing to give you the time and the resources to get your business off the ground.

Becoming an entrepreneur is one of the most satisfying, challenging, exciting endeavors any executive can do. If you want to take charge of your career, build something that gives you long-term control and provider yourself with the ultimate in freedom and flexibility, then making the transition from $100K+ executive to entrepreneur is well worth the effort.

About the Author
$100K+ Executive-Level Career Coach Karen Armon prepares leaders around the world for their next move. Her popular book, Market Your Potential, Not Your Past is a hit among executives who want a clear-cut, systematic game plan that drives careers forward. Now get her new FREE eBook, "Ten Micro-Trends that Impact Executive Careers Today" at http://www.marketoneexecutive.com/ebook.asp and take a critical look at today's marketplace.

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Entrepreneurs have a knack for seeing opportunities where others don't. If you see 2010 as a good time to start a business despite the recession, then you may have an entrepreneurial perspective. Now you need to know if you have some of the other characteristics of successful entrepreneurs.

What helps entrepreneurs these days is that virtual business models put more emphasis on talent and less on administration and infrastructure. After all, e-commerce solutions can give you an instant storefront presence and credit card processing services can handle your receivables, and SEO can give you access to online customers with a minimal up front investment.

So now all you need is the right set of skills and characteristics. Consider whether you have the following ingredients of successful entrepreneurship:
1. Talent.
You should be able to identify at least one area of ability that makes you stand out from the crowd. This can be anything: technical expertise, sales skill, marketing insight, or logistical know-how. Since small businesses are talent-driven, you have to start out with the belief that you have the raw material with which to compete and succeed. It helps if your skills happen to be in areas with growing demand, such as health care or computer technology. If you have medical knowledge or a skill such as Web design, you may have a little wind at your back.

2. A new or different perspective.
"Me-too" businesses have a tough time making a mark, especially during a weak economy. Your business should be founded on the idea that there is a better way to do things. Ideally, you should have enough experience in your chosen industry to be familiar with the normal way business is done, and to have developed some unique insights as to how that can be improved. Being able to clearly articulate a differing perspective should be central to your business plan. In turn, it should also become the vision you communicate to everyone you hire, and the selling proposition you use to pitch potential customers.

3. A business network of connections and affiliations
Experience is valuable not only for knowing how other companies do things, but also for helping you form a business network that will get your new company up and running more quickly. Remember, people--especially business-to-business customers--can be reluctant to do business with a start-up. You should have some contacts who respect you enough personally to take a chance on your new business. Of course a network of contacts can also help you identify potential investors, suppliers, and talented employees. If you need to build your network think about joining a business community of interest.

4. A war chest.
Don't start your business venture unless you have identified sufficient funding to not only get started, but to keep your business running through the inevitable lean months at the beginning. Many businesses are forced to go under just as they would be starting to gain some momentum, simply because they underestimated the amount of time it would take for profits to start rolling in. Funding can be from your own savings, outside investors, or loans. Of course, external sources of funding are harder to come by in a recession, but you can use techniques such as virtual offices to reduce the need for this type of funding.

5. Ability to take risk.
You should start any new business with a commitment to succeed, but an acceptance of the risk involved. Entrepreneurs are often people who are willing to trade a sure thing working for someone else for even a risky chance at running their own show.

6. An eye for complementary talent.
Once you start hiring people, you should think in terms of rounding out the team rather than looking for people just like yourself. It can be a mistake to have too many would-be leaders in one organization. If you have an independent and visionary outlook, you might do well to complement that with a strong administrator who can take care of the details.

7. Persistence.
Not only does it take a long time for a new business to gain traction, but entrepreneurs often don't succeed on their first try. As long as you have confidence in the first two items on this list--your talent and your unique perspective on the business--you should be willing to keep trying.

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If you follow college football, you've probably run across Ohio State a time or two. Their football program is very old and very prestigious.

But I'm still cringing at the thought of watching them get beaten by Oregon at the Rose Bowl. (Yes I'm fairly certain they'll lose although I do hope I'm wrong.) As a Big Ten fan, I'm really tired of watching Ohio State get hammered in these big, national games.

(Of course, if MY team, the Wisconsin Badgers, would ever actually beat them in conference, maybe all of this would be different but I digress.)

For the life of me I couldn't figure out what was going on. Why did Ohio State win so darn many games only to consistently embarrass the Big Ten in big out-of-conference games? Jim Tressel is an excellent coach. Isn't he?

Well, this year I finally got my answer. Yes Jim Tressel is an excellent coach. But he plays not to lose. He doesn't play to win.

And that, my friends, is why he loses the big games. Because those teams come to win. And Tressel is coming not to lose. (And that's why he's probably gong to lose to Oregon at the Rose Bowl because Oregon has been playing to win all season.)

So what exactly does it mean to play not to lose? Well it means playing very conservatively. You punt the ball rather than going for it on 4th and short. You go for the field goal rather than the touchdown. You build very strong defenses. You commit very few penalties. You have a very well coached team.

It also means you don't take chances. You don’t have quarterbacks that heave the ball down the field in broken plays that can result in an interception or an 80-yard touchdown. You also don't win a lot of shootouts. And if your game plan isn't working, you don't have a lot of options because winging it isn't something you do.

And you're also pretty uninteresting to watch. (Sorry Buckeye fans but it's true.)

Now, can you win games playing not to lose? Absolutely. Tressel has a very respectable record. (Much better than my Badgers.) He's won the Big Ten Title nearly every year.

The problem happens when he gets to the big games. Now I'm not a coach nor did I ever play football but I do watch a lot of it and here's what I think happens. If you're not able to prevent Ohio from executing their game plan, you're toast. If Ohio can execute their game plan, they're going to do it very well and probably beat you.

But, if you throw a wrench in that game plan, if you throw them off, well then Ohio has a problem. They're not good at improvising nor do they take chances. And if you don't take a chance, especially when the chips are down, you're probably not going to win those games.

So what about you? Are you playing not to lose or are you playing to win? Sure you can do well playing not to lose, but you're never going to play as big of a game as you could be. Play to win, sure you might fall on your face from time to time but you'll probably end up playing bigger than you ever thought possible.

So what does it mean to play to win or play not to lose? I'll talk about that more in next week's article.

Michele PW (Michele Pariza Wacek) is your Ka-Ching! Marketing strategist and owns Creative Concepts and Copywriting LLC, a copywriting and marketing agency. She helps entrepreneurs become more successful at attracting more clients, selling more products and services and boosting their business. To find out how she can help you take your business to the next level, visit her site at http://www.MichelePW.com Copyright 2009 Michele Pariza Wacek.

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As the recession continues to loom and as unemployment rises, we have seen an increased interest in executives wanting to start their own businesses. They want to transition from executive to entrepreneur.

You may be interested in becoming an entrepreneur because you lost your job, or because you have a great idea, or because you cannot find a job you are interested in.

Regardless of the reason, however, you will find there is more information available today concerning starting a business than the average human being can consume in a lifetime. Standard advice includes:

o Prepare a solid business plan
o Have cash for at least six months
o Work with a good accountant and attorney
o Understand your market
o Know your competition
o Have a marketable product or service

This is good advice indeed. But in our experience, business startup success or failure involves more than adhering to these maxims. Here are the things you need to pay attention to in order to avoid sabotaging your business success.

10 Mistakes That Will Hurt Your Chances of Becoming a Successful Entrepreneur

Entrepreneur Mistake #1: Letting fear immobilize you. We believe the number 1 issue that affects the success of a new business is fear of failure, fear of success, fear of criticism, fear of feeling unappreciated and fear of thinking no one will like your product, your service or you. Understand that fear can immobilize you. Learn to recognize it and deal with it.

Entrepreneur Mistake #2: Failure to develop real relationships. Nothing happens until a relationship is formed. No meeting, no sales opportunity, no business. Take the time to build a relationship, and then you are ready to sell.

Entrepreneur Mistake #3: Failure to respond quickly. The quicker you respond, the more responsive you appear. E-mails not returned in days, voice messages ignored, and proposals or sales agreements delayed show that you don’t care about your prospect’s business. Forget the absurd advice that a quick response makes you look eager or desperate for the business. It makes you look – responsive.

Entrepreneur Mistake #4: Becoming a pusher. Nobody likes a pusher. So when your buyer says “yes” – stop selling. And don’t up-sell, which is getting the buyer to buy more than they need. It’s great for short-term profits and terrible for a long-term relationship.

Entrepreneur Mistake #5: Quitting at no. Nobody likes rejection, but sometimes we see it when it’s not there. No is often an initial response to someone the buyer doesn’t know, not a conclusion. Or, it can come from a gatekeeper whose job it is to say no.

Entrepreneur Mistake #6: Getting stuck in perfection. There is no such thing as the perfect proposal, the perfect letter and the perfect response. Good is often good enough unless you are dealing with life and death situations, which most of us are not. The extra 20 percent you put into your product, service, response is neither recognized nor appreciated by the recipient. But the fact that it took you too long to respond is recognized and not in a good way.

Entrepreneur Mistake #7: Wearing your personal beliefs on your sleeve. No one cares about your opinions when you are in a sales situation. Your political, social, sports beliefs should stay with you.

Entrepreneur Mistake #8: Lack of focus. When you are not focused on your employees, clients and prospects it looks like you are not interested or that you are overwhelmed. When there is a lack of focus in your organization, it looks like a version of the fad of the month which quickly blows morale as staff struggles to juggle changing priorities and new initiatives.

Entrepreneur Mistake #9: No executive presence. Executive presence is not about just looking the part. Executive presence is about being the part. It’s about managing your image thoughtfully and not artificially. Like it or not, tired, overweight, out of shape and sloppy people who aren’t aware of current events and haven’t read a book since high school or college present a very different image than people who take care of themselves and are intellectually curious.

Entrepreneur Mistake #10: Not showing gratitude. Becoming a success in your business never happens by yourself. Along the way there are people who share their advice, help you through the tough times, perhaps give you an introduction. Don’t forget them when you become successful. Gratitude has a return.

These are very difficult economic times. Starting a new business can be exhilarating and very rewarding – personally and professionally. Yes you need a solid business plan, financing and a marketable product or service with a strong and compelling value proposition. But you need more. And, you need to start eliminating sabotaging behaviors that will kill your transition from executive to entrepreneur right now.

About the Author:

Management Consultants and Business Performance Improvement Specialists Tony Kubica and Sara Laforest have 50+ years of combined experience in helping budding entrepreneurs accelerate their business growth in record times. Now, they unveil the common, subtle and self-destructive actions that will hurt your business performance. Get their free special report: “Self-Sabotage in Business” now: http://www.kubicalaforestconsulting.com/resources.php

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Article Contributed by Cody "the Retire Before 25 Guy" Miller

If you’re like most young entrepreneurs, if you’re like me, you’ve chased some people around before. You like what you have to offer and you believe in working for yourself, so naturally you want others, especially family and friends to feel the same way.

Well, stop.

Amateurs “sell”, Pros “sort”. Amateurs try and convince people of why they ought to purchase their products, invest in their company or start up with them, while professionals walk right by.

Why do pros sort? Sorting is much easier than selling. I don’t have to convince anyone of anything. I simply share the information with them if they’re “open for more information”. Practice that phrase, “Are you open for more information?” If they are, give them some, not too much but just enough to satisfy them. If they aren’t interested, Rejoice! You’re one person closer to someone who is interested. Move on and stop bugging the same people time and time again.

Some of you know exactly what I’m talking about, you’ve stalked people around like Godzilla, you’re the person they pretend not to be home for! Knock it off! Most of the people you’re trying to convince to do something wouldn’t be any good as an entrepreneur (or they wouldn’t enjoy your product) anyway. So leave them alone and start looking for people who are interested.

The reality is, out there, somewhere, there is someone who is looking for exactly what you have to offer. Your job is to find them and give them more information. That is, if they are open for more information.

Marketing is a numbers game. Expose as many people as possible to your business and sooner or later someone will be interested – it’s the law of averages and it works, every time. It’s all a matter of “sooner or later”. Just keep going, keep working, keep promoting and keep believing.

Everyone has a number. This is not a magic number but a very practical number. You see, everyone has an exact number of people that they need to talk to in order to reach their income goals. For you it may be 1,000 people, for some it may be 1,000,000. It all depends on how big you dream and… chance. Yep, dumb luck. No one knows what their number is until after the fact. So keep count and let me know what your number is once you’ve achieved your dreams.

About the Author
Cody blogs at RetireBefore25.com, a site that provides tips, resources and ideas for aspiring young entrepreneurs. Cody may also be reached at:cody@retirebefore25.com

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Article Contributed by Michele DeKinder-Smith

Over the past 20 years, the number of businesses owned by women has grown by more than 42%. In fact, in 2008, women-owned firms accounted for more than 1.9 trillion dollars in sales.

But while more and more women are eager to become small business owners, they're also still facing more challenges than men. Businesses owned by women are nearly 50% less likely to reach the million dollar mark—and often produce less return on investment for hours worked.

A new study by Michele DeKinder-Smith, market research professional and founder of the website www.janeoutofthebox.com, has recently released a study that reveals five different types of female entrepreneurs. Each personality type has a different approach to business, along with different strengths and challenges.

Success can be defined in many ways and it's clear that each of the five types have their own definition of success. Taken overall, if we consider business revenue and personal satisfaction with work/life balance, one might say that the type that is most conventionally successful is the type known as "Jane Dough".

Why should we pay attention to Jane Dough? Comprising 18% of all female entrepreneurs, she's five times as likely to hit the million dollar mark as the average female entrepreneur. She's also one of the groups most satisfied with her work/life balance. So, if growing a large business while working reasonable hours is important to a business owner, she can learn from Jane Dough's characteristics, behaviors and decisions.

Here are some of the traits that tend to make Jane Dough so successful.

1) Focus on growth

Running a business is filled with a ton of minor details, every day of every year. But Jane Dough has learned how to personally stay focused on the big picture: growing her business. This means getting past the details, the billable hours and the overdue invoices—and paying attention to the process of getting (and handling!) more business, in less time.

2) Building teams and systems

Jane Dough knows there's only so much a woman can do by herself. Because business growth is an important goal, she's learned how to build a team and delegate responsibility. This means using systems that create leverage and prevent her from falling victim to the 'dollars for hours' trap.

3) Prioritization

Along with a focus on growth and systems, Jane Dough tends to prioritize those activities that will make her the most amount of money with the least amount of personal time expended.

4) Looking ahead

How does Jane Dough stay so focused on exactly what she needs to do to grow a successful business? Well, many of these women started their companies with a big vision and/or they are intentionally building a business they can later sell or pass on to their children. These big, longer-term priorities help her stay consistently focused on the big picture.

5) Putting in the hours—but leaving work at work

Jane Dough is the type of entrepreneur who's willing to put in the hours it takes to make her business successful. However, unlike some other types of female entrepreneurs, for whom business can be intensely personal, Jane Dough understands that work is work and that tomorrow is another day. Because she's supported herself with systems that give her the flexibility to problem-solve when she needs to, she feels confident that she can and will be able to manage things during the hours she has designated for work. Yes, she might check her email in the evening after she's home, but she's not going to consistently find herself spending her personal time as a slave to demanding customers. Her ability to mentally keep work and personal life reasonably separated and her perspective and confidence that she can solve any problems tomorrow contributes to her higher-than-average work/life balance.

6) Confidence in marketing and selling

While many women in business express concerns about their ability to successfully market their business for profitability, Jane Dough is highly confident in selling both herself and her business. This confidence (which can be learned!) is a major factor in her financial success.

7) Perspective

When the going gets tough, Jane Dough stays focused, and doesn't let doubt creep in. She tends to view challenges and setbacks objectively rather than personally, and keeps focused on her big picture goals. Jane Dough loves her business and she keeps it in perspective, as well.

About the Author:
Michele DeKinder-Smith is the founder of Jane out of the Box, an online resource dedicated to the women entrepreneur community. Discover more incredibly useful information for running a small business by taking the FREE Jane Types Assessment at Jane out of the Box. Offering networking and marketing opportunities, key resources and mentorship from successful women in business, Jane Out of the Box is online at www.janeoutofthebox.com.

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Article Contributed by Michele DeKinder-Smith

Launching a product can mean lots of things to a business. It can mean branching out and snagging a new buyer in a different market. It can also mean creating residual income for a service-based business. And it may be just the thing needed to turn a struggling business into a cash cow. This article examines things three of the five specific types of female entrepreneurs (also known as “Janes”) should keep in mind as they plan for (and launch) new products.

Go Jane Go

She is passionate about her work, and has no problem marketing and selling herself, so she has plenty of clients—but she’s struggling to keep up with demand. She may be a classic overachiever, taking on volunteer opportunities as well, because she’s eager to make an impact on the world and may really struggle saying “no”. Because she wants to “say yes” to so many opportunities, she may even be in denial about how many hours she actually works during the course of a week. During the worst of times, Go Jane Go may tend to run herself ragged or feel guilty about all the things on her “to do list” that aren’t getting done quickly enough to satisfy her exacting demands.

If you’re the Go Jane Go type, you should think long and hard before deciding to develop a new product or service right now. Yes, you may have come up with something truly innovative that will help the market you serve. But remember that not everything needs to be done at once. Sometimes, when you have a great idea, you don’t need to say “no” – but you DO need to say “not right now”.

Create a special file for yourself to house all your fantastic ideas. Before allowing yourself to put another item on the "active projects" list, first require of yourself the discipline to make room for it! This is especially important if you are feeling like your plate is too full already.

When you truly feel ready to commit to the new product or service launch, several things can make it easier for you to experience success without frustration:

1. Find something you are doing now that you can remove from your list or delegate to someone else. This will give you time to work on the new project. Alternatively, hire someone (even part-time, virtually) to design and implement the new product for you, under your direction.

2. Estimate how many hours of your personal time the new project will take. Then triple your estimate. (As a Go Jane Go, you’re excellent at what you do–but you may not realize just how much effort you’re putting into tasks. To preserve your sanity, you need to give yourself plenty of cushion for the inevitable unexpected events.)

3. Don’t just put it on your list–actually put each step on your calendar. This way, you are assured of reasonable timelines, rather than falling behind and feeling like you have to do a major crunch at the end.

Merry Jane

This entrepreneur is usually building a part-time or “flexible time” business that gives her a creative outlet (whether she’s an ad agency consultant or an artist) that she can manage within specific constraints around her schedule. She may have a day job, or need to be fully present for family or other pursuits. She realizes she could make more money by working longer hours, but she’s happy with the tradeoff she has made because her business gives her tremendous freedom to work how and when she wants, around her other commitments.

As a Merry Jane, when you come up with a new product or service idea that you are considering launching for your business, you want to make sure it really makes the most of your time. Before you begin, make sure you put in a step to research your market’s interest in the product first. A simple way to do this is to reach out to some of your current customers today to find out if they are interested in the overall business idea. Using your blog, you can ask provocative questions about the topic and see if it generates response. You can also send out a quick survey or even call some of your most trusted customers on the phone. Choose the method based on the size and type of customers you have.

By putting this step in place, you can feel confident the new idea is worth the investment of your time to develop. And, by reaching out to your customers first, you will likely gather information that will help you refine and strengthen the idea even further, ensuring yourself a successful launch.

Accidental Jane

She is a successful, confident business owner who never actually set out to start a business. Instead, she may have decided to start a business due to frustration with her job or a layoff and decided to use her business and personal contacts to strike out on her own. Or, she may have created something that served her own unmet needs and later found other customers with the same need, giving birth to a business. Accidental Jane enjoys what she does and is creating a satisfactory level of income.

If you’re an Accidental Jane, you love where your business is right now, so you may feel uncertain about whether to launch your new product idea or not. The key to making this decision lies in visualizing the various scenarios that could play out if you did decide to launch it. By creating a "pros and cons" list for each of the scenarios, you can determine which path is most likely to create results you desire. Below are some probing questions to ask yourself about your new product idea before taking the additional steps to create it:

* Will doing this be something I really enjoy? Will it give me “job satisfaction”?
* How much time will it take to create this new product the right way? Am I willing to add that many more hours to my plate? Are there things I can give up to make room for it, without diminishing my income or happiness?
* What if this new product really takes off? If there’s more demand that I can serve right now, what will I do? Will I feel comfortable hiring people to help me? Will I feel comfortable letting go of other work I’m doing today to make room for it? If it really took off, how would it change the financials of my business and how I spend my time?
* If this new product doesn’t work out, how will I feel? Will I be willing to invest additional time required to fix it or market it to make sure it works? Will I feel like a failure or do I see this as an important opportunity for personal growth, even if it fails?

Since Accidental Jane is generally happy with the way things are right now, using these questions as filters to determine whether or not to launch a new product will help her make sure she doesn’t “accidentally” create results that take away some of her joy or income.

Even though all three Janes– Go Jane Go, Merry Jane and Accidental Jane– have distinct ways of doing business, each can benefit from the launch of successful new products and services. The key to doing so lies in appreciating herself and her own business needs, and pursuing new opportunities in a way that will really serve the life she wants to live.

About the Author:
Michele DeKinder-Smith is the founder of Jane out of the Box, an online resource dedicated to the women entrepreneur community. Discover more incredibly useful information for running a small business by taking the FREE Jane Types Assessment at Jane out of the Box. Offering networking and marketing opportunities, key resources and mentorship from successful women in business, Jane Out of the Box is online at www.janeoutofthebox.com.

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No matter how a female entrepreneur runs her business, it’s possible that at some point, the relationship between her and a client will come to an end. Although most successful women will agree that they want to end things amicably, severing the working relationship may be tougher for some than for others.

A new study from Jane Out of the Box, an authority on women entrepreneurs, recently revealed there are five distinct types of women in business. Each of these five types has a unique approach to running a business—and as a consequence, each of them has a unique combination of characteristics that impact how she reacts to different situations. This article profiles three of the Jane “types” and the different ways they may handle firing a client – which can be difficult on many levels.

Jane Dough is an entrepreneur who enjoys running her business and makes good money. She is comfortable and determined in buying and selling, which may be why she’s five times more likely than the average female business owner to hit the million dollar mark. Jane Dough is clear in her priorities and may be intentionally and actively growing an asset-based or legacy business. It is estimated that 18% of women fall in the category of Jane Dough.

For Jane Dough, business is business. If a relationship isn’t working out, Jane Dough will end it – quickly and painlessly (for her). Because she is so clear in her priorities, if the results of a particular relationship aren’t lining up the way she wants them to, she’ll cut it off.

If you’re a Jane Dough, firing a “difficult” client won’t be personal. You won’t be upset about it, because you’d only fire a client if it wasn’t benefiting your business. You might even see the potential for staying friends with the client afterwards, because you’re very good at separating your business and personal lives.

Before you cut the cord, though, Jane Dough, make sure you really think about why the relationship isn’t working out. Perhaps the problem isn’t the client – there could be a flaw (big or small) in your system that makes it difficult for your business to serve him or her. Or perhaps you’ve been moving too fast to give this client the proper amount of attention and his or her need for higher levels of service is the problem. In this case, instead of firing the client, you might have an opportunity to upsell the client into a higher tier of service! You’re great at trusting the system you’ve created and the team you’ve put together. But when you’ve got a difficult client, and particularly if you have several, it’s worthwhile to take a closer look at what might be your company’s contribution to the dysfunction. After doing so, if you decide that, in fact, the problem is only on the client’s side of the equation, challenge yourself to be kind when you deliver the news. Not everyone is as direct as you are – and delivering bad news with grace can potentially turn a difficult situation into a positive experience of mutual understanding. Done well, “firing a client” can actually increase the client’s respect for you and your company.

Accidental Jane is a successful, confident business owner who never actually set out to start a business. Instead, she may have decided to start a business due to frustration with her job or a layoff and decided to use her business and personal contacts to strike out on her own. Or, she may have started making something that served her own unmet needs and found other customers with the same need, giving birth to a business. Accidental Jane enjoys what she does and is creating a satisfactory level of income.

As an Accidental Jane, you want to be in control of your own destiny, right? You are also a big believer in the importance of relationships in business. When you have a difficult client, you will take the time to think about the situation from multiple angles, considering whether the situation can be repaired, how it might be fixed, and the effort it will require to do so.

When the scenario is simply a poor fit or when the client is abusive, you will have no difficulty setting boundaries with them, establishing consequences, and ultimately parting ways. But when the client is a longer-term relationship that was successful in the past, letting the client go may be more difficult for you. This may happen in Accidental Jane’s relationships when demands for her services increase and she no longer has as much time available to serve a long-standing customer. Similarly, she may, out of loyalty, be offering better pricing to those who “gave her a chance” when she started. As her business increases and she raises her rates, she may find this good relationship no longer lucrative.

When this happens, be willing to have a candid conversation with your customer about what your business needs. When you outline what you need in order for the relationship to be a win/win, your client has the option to choose to meet your needs or not. If they are unable to do so, it is easier to part on amicable terms because they get to be a party to the decision.

Tenacity Jane is an entrepreneur with an undeniable passion for her business, but who tends to be struggling with cash flow. As a result, she’s working longer hours, and making less money than she’d like. Nevertheless, Tenacity Jane is determined to make her business a success. At 31% of women business owners, Tenacity Janes are the largest single Jane type.

As her name implies, Tenacity Jane doesn’t want to give up. She may postpone firing a difficult client. She may worry about letting go of the revenue the customer represents and be concerned about whether or not she’ll be able to replace that client. She may try a variety of different tactics to improve the situation, possibly overestimating her own contribution and blaming herself or having self-doubt. As a result, Tenacity Jane may attempt a several strategies to improve the situation, bending over backward – and some difficult clients will actually take advantage of that fact and abuse her sincere desire to provide a valuable product or service.

If you’re a Tenacity Jane it’s important to realize that difficult clients are not your fault! You should honestly assess the situation and then be willing to let go and move on. Many of the Tenacity Janes we’ve interviewed say that having the courage to fire a difficult client was a true turning point in their business and enabled them to move into a much more financially successful phase of their business.

No business owner wants to fire a client. It’s difficult to accept that something just isn’t working out. But sometimes all you can do is to get out, and it proves to be best for both parties involved. Whether you’re a Jane Dough, an Accidental Jane or a Tenacity Jane, when it’s time to cut and run, you can do it. And you’ll be better off for it.

About the Author:

Michele DeKinder-Smith is the founder of Jane out of the Box, an online resource dedicated to the women entrepreneur community. Discover more incredibly useful information for running a small business by taking the FREE Jane Types Assessment at Jane out of the Box. Offering networking and marketing opportunities, key resources and mentorship from successful women in business, Jane Out of the Box is online at www.janeoutofthebox.com

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In every female entrepreneur’s life, opportunity will knock. Successful women must determine how they’ll answer. Will they fling the door open and shout, “Welcome!” with no more trepidation than they’d use when hosting their best friend? Or will they hook up the security chain and open the door just a crack, asking, “What do you want?” Whether it’s one of those extremes or something in between, one thing is certain: her response to opportunity likely will determine opportunity’s response to her – and her business.

A new study from Jane Out of the Box, an authority on female entrepreneurs, recently revealed there are five distinct types of women in business. Each one has a unique approach to running a business – and therefore each one has a unique combination of characteristics and factors.

This article profiles three important Jane “types” and the ways they are likely to respond when opportunity shows up on their doorstep.

Jane Dough is an entrepreneur who enjoys running her business and makes good money. She is comfortable and determined in buying and selling, which may be why she’s five times more likely than the average female business owner to hit the million dollar mark. Jane Dough is clear in her priorities and may be intentionally and actively growing an asset-based or legacy business. It is estimated that 18% of women fall in the category of Jane Dough.

Opportunity is a guest Jane Dough will carefully consider. Sure, she'll open the door, but she'll give Opportunity a good once-over before letting it in. Because she's business-minded and pragmatic, she will look at all the angles before deciding whether this particular opportunity is one she wants to be closer to.

If you're a Jane Dough, you should think about a few things while making your careful assessment:

* You're a big picture kind of girl. You might see an opportunity and know it will fit in, in the grand scheme of things. But before you give the go-ahead in your quick and business-like manner, be careful to analyze exactly how it will fit in to the rest of your system.

* Ask yourself, "Even if this opportunity will make my business even more successful, will taking it allow me to continue to focus on what I want to focus on at work?" In short, evaluate not just the opportunity, but the timing as well. Jane Dough works best in a very focused manner, so it's important not to allow a new opportunity to become a distraction for you and your team. If you're already working on a big project, it might be best to re-negotiate timing so you can maximize your effectiveness with both opportunities.

Tenacity Jane is an entrepreneur with an undeniable passion for her business, but who tends to be struggling with cash flow. As a result, she's working long hours, and making less money than she'd like. Nevertheless, Tenacity Jane is bound and determined to make her business a success. At 31% of women in business, Tenacity Janes are the largest single Jane type.

Tenacity Jane LOVES Opportunity because she is seeking the key(s) to helping her financially struggling business become more profitable so she can rest easier. That said, it's important to realize that not every gift horse should be allowed in the door. When faced with a new opportunity, Tenacity Jane can consider the following:

* Sometimes what looks like Opportunity is just trouble in disguise. Before you proceed with something new, take the time to analyze whether the opportunity has significant potential to deliver the income you're looking for, and what will be required for that to occur. Map out your plan and examine feasibility before diving in with both
feet.

* Consider your current projects and workload. How will the new opportunity fit in? Will it disrupt fledgling efforts you have underway already to improve the finances in your business? If so, it might be better to put the new opportunity on hold until the work you have currently underway begins to bear fruit.

* Finally, consider the costs of the opportunity. What will it cost you in terms of time, and importantly, money? Before pursuing any new opportunity, make sure you have sufficient resources to fully take advantage of it. If it would require an investment in building a new website, for example, and you don't have the money to do so, the opportunity will not pay out the way you hoped. Again, it might be worth postponing slightly, until you can marshal more resources to truly make the most of it.

Merry Jane. This entrepreneur tends to be "building a business on the side"-in addition to a day-job, or a focus on family or other pursuits. She doesn't have a high personal income from her business, but she also tends to be working less than 40 hours a week, and she loves the freedom her business affords her.

For Merry Jane, being a successful woman means multi-tasking well and having a smoothly running life. It also means having the freedom and flexibility to do what she wants when she wants. Merry Jane is enjoying herself and her business overall due to the freedom she enjoys so she will want to examine any new opportunity to decide whether it threatens her work/life balance or whether it will deliver sufficient profitability to allow her to make even better money while preserving her time freedom. When opportunity comes knocking, Merry Jane can as herself the following questions to ensure she chooses her course wisely:

* How much time will this opportunity take (in hours per week and overall duration)? Is this an investment of time I am willing to make? What might I be able to let go of to free up more time?

* Will this opportunity fit into my existing systems or am I going to have to invent new ways of doing things to take advantage of this? If it will take a change in the way I work, is it worth it?

* Will I enjoy this work? Overall, Merry Jane loves her work and her business and any new opportunity should be equally or more enjoyable than the work she does today to ensure her continued happiness.

* If the answer to all of the above results in a continued desire to pursue the opportunity, Merry Jane can then ask herself ... What can I do to make this new opportunity even more profitable? A key opportunity for Merry Jane is to increase her personal income through
her business, so this is always a great question when embarking on a new project.

Whether you're a Jane Dough, a Tenacity Jane or a Merry Jane, deciding whether to invite a new opportunity in requires quite a bit of consideration. Each type of female entrepreneur should identify the myriad ways the opportunity may affect her, and then make the decision about whether to accept it. One of the greatest joys of owning your own business is the freedom to choose - so choose what's right for you!

About the Author:

Michele DeKinder-Smith is the founder of Jane out of the Box, an online resource dedicated to the women entrepreneur community. Discover more incredibly useful information for running a small business by taking the FREE Jane Types Assessment at Jane out of the Box. Offering networking and marketing opportunities, key resources and mentorship from successful women in business, Jane Out of the Box is online at www.janeoutofthebox.com

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Last week I talked about how either moving too fast or too slow can sabotage your success. (You can read part 1 by visiting my blog… my website address is listed below.) Today I'm going to talk
about a place where entrepreneurs typically move too slow -- creating products or programs.

Does this sound familiar? You've been working on your book or your program or product for several months or maybe even years. You're close to finishing -- you just have one or two more things to do. Of course, every time you finish those one or two things, one or two more things crop up. It's never ending.

If this does sound familiar, you're not alone. I know many, many entrepreneurs (including myself) who have taken longer than necessary to complete their products. The reasons vary but many fall into the "perfectionist" camp. You take pride in your work. You want your product to be perfect. You want
your customers to love your product and get a lot out of it. There's nothing wrong with that, right?

Well, there is when it prevents you from actually bringing your product to market. Think about it -- if the conclusion isn't quite right or there are a few missed typos, is that going to REALLY take away from the experience of your product? Or the results your customers will get?

Of course not. But we're so fixated on it being perfect we can't get past that.

Now the advice many successful business owners share when you're in this situation is something along the lines of "good enough is good enough" (meaning your product doesn't have to be perfect, just get it to a good product and then get it to market) or "taking imperfect action" (which also basically means get the darn thing out the door even if it is imperfect). I agree with both of these statements, but the problem is what happens when you know this and you STILL need to get that "one more thing done?"

I think there are a couple of deeper issues around perfectionism. (And depending on how deep the issues are depends on how quickly you can push through them.) Let me explain.

When we create a product it's easy to fall into the trap of thinking the product is an extension of ourselves. So any flaws or mistakes or criticism of the product suddenly takes on way more importance than it ought to be. Because any problems with the product, anything that is lacking in the product, is actually a problem or a lack with us personally.

In addition to that (if that wasn't hard enough to get past) there's also a little question of value. If you don't value yourself, your gifts, your brilliance, what you bring to the world, then how are you going to value a product you created? And if you don't value your product, when will it ever be "good enough" to sell?

So what happens if you find yourself relating to one or both of these issues? Well, you need to take a step back and do some deeper work on yourself. Hiring a coach or taking a program that gets at the core of what you're struggling with-- whether it's valuing yourself, valuing your brilliance or accepting yourself (warts and all) is crucial to helping you push through your blocks and getting your products finished and selling.

If you want to do something right now, try journaling about it. See what comes up for you and what your next steps should be.

Next week we're going to look at the next step – racing through your product launch now that you've finally gotten your product done.

Michele PW (Michele Pariza Wacek) is your Ka-Ching! marketing strategist and owns Creative Concepts and Copywriting LLC, a copywriting and marketing agency. She helps entrepreneurs become more successful at attracting more clients, selling more products and services and boosting their business. To find out how she can help you take your business to the next level, visit her site at http://www.MichelePW.com. Copyright 2009 Michele Pariza Wacek.

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After being in business for as long as I have, there's one thing that never fails to amaze me -- the capacity entrepreneurs have to sabotage their own success. (Not to mention how creative those ways can be.) While there's about a million ways this manifests itself, here's one way I see popping up over and over again.

Is Your Timing Keeping You From Being Successful In Your Business? (Part 1)

After being in business for as long as I have, there's one thing that never fails to amaze me -- the capacity entrepreneurs have to sabotage their own success. (Not to mention how creative those ways can be.) While there's about a million ways this manifests itself, here's one way I see popping up over and over again.

And that's timing.

What do I mean by timing? I mean either entrepreneurs are moving too slow, and thus miss opportunities to make money, or they move too fast and are reckless and miss out on opportunities that way.

What's interesting about timing is it's not as clear cut as "one person moves too slow and one person moves too fast." What I actually see is entrepreneurs move BOTH too fast AND too slow. They just do it at the wrong times.

And where do I see this happen the most? When they're planning to launch a new product or program.

Here's what typically happens -- people will move WAY too slowly creating the product or program and will move WAY too fast to launch it. With the end result being they miss out on opportunities on both sides -- it takes them forever to actually get thing done (so they've missed out on money selling the product or program) and then they rush through the launch like they have a bunch of hungry vampires chasing them and they don't make nearly the sales they could have.

What REALLY should be happening is they should move quickly creating the product then slow down while launching it. That way, they get the best of both worlds -- they get the product or program to market faster and can start profiting from it sooner, and they take their time to work through ALL the launch steps so they wring as many sales as possible during the launch.

Now, there are variations of this. I have met people who are slow during the product creation AND launch, just like I've met people who whip through both as well. (And then there's another group of people who either never get their product done or they finish products and never actually get around to launching them.) All of these are sabotaging techniques, which is part of the reason why this is far more complex problem then would initially appear on the surface.

So if you suspect you might struggle with one or several of the above, what can you do? How can you stop it? And how much time do you REALLY need to launch? Well, I'm going to answer all those questions over the next 2 articles. Next week we'll look at why it takes some entrepreneurs so darn long to finish their product and how they can speed up the process, and the week after we'll cover racing through the launch process.

Michele PW (Michele Pariza Wacek) is your Ka-Ching! marketing strategist and owns Creative Concepts and Copywriting LLC, a copywriting and marketing agency. She helps entrepreneurs become more successful at attracting more clients, selling more products and services and boosting their business. To find out how she can help you take your business to the next level, visit her site at http://www.MichelePW.com.

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Article Contributed by Michele DeKinder-Smith

Launching a product is an important step in growing a business. If you’re already in the business of selling products, it’s an opportunity to expand into a new market. If your primary business is in services, offering a product is an opportunity to get beyond the “dollars for hours” trap and begin creating residual income. In either case, launching a product, or even a new service, takes time, forethought and a great deal of investment. And, while it’s exciting, it can be stressful, too.

A new study from Jane Out of the Box, an authority on women entrepreneurs, recently revealed there are five distinct types of women in business. Each of these five types has a unique approach to running a business—and as a consequence, each of them has a unique combination of characteristics and factors. This article profiles two important Jane “types” and the things they should keep in mind as they plan for (and launch) new products.

Jane Dough is an entrepreneur who enjoys running her business and makes good money. She is comfortable and determined in buying and selling, which may be why she’s five times more likely than the average female business owner to hit the million dollar mark. Jane Dough is clear in her priorities and may be intentionally and actively growing an asset-based or legacy business. It is estimated that 18% of women fall in the category of Jane Dough.

If you’re the Jane Dough type, chances are good you feel totally confident about this launch. You’re a big picture gal, and you probably believe this launch will benefit your business. But before you go ahead with it, here are some things to think about:

* Staying focused on the big picture means you may fail to truly analyze all the potential risks and benefits of your new product or service. Although you make good business decisions and are able to separate your business from your emotion, sometimes you move so fast you forget to consider all the angles.

* Have you adequately assessed your market? Do the parameters and features of price points associated with the product need to be tweaked? Are you reaching your target market with the right message? You’ve got plenty of business coming in and plenty of other plans in the works. That doesn’t mean you don’t need to yield to those caution signs. Slow down and analyze all the intricacies, colors and patterns that make up the big picture you love so much.

* What about the system around your launch? Have you taken the time to explain to your team what they need to do to make the launch a success? Having a system in place can prevent problems before they happen–and just thinking about that system can make you slow down enough to consider all the angles.

By taking the time to understand exactly how this new launch fits in—rather than staying focused on the big picture vision, and forging blindly ahead—you’ll be able to learn from possible mistakes before they happen.

Tenacity Jane is an entrepreneur with an undeniable passion for her business, and also one who tends to be struggling with cash flow. As a result, she’s working long hours, and making less money than she’d like. Nevertheless, Tenacity Jane is bound and determined to make her business a success. At 31% of women in business, Tenacity Janes are the largest single Jane type.

If you’re the Tenacity Jane type, you’re no stranger to challenge. But that doesn’t mean you should create another one for yourself. Before launching a new product or service, ask yourself some questions:

* Is adding a product or service a smart business decision, or is it just something you just really want to do? Tenacity Janes tend to love what they’re doing so much, and want it so badly, that emotions sometimes get in the way. The deep and abiding faith you have in your business and in yourself as an entrepreneur is what keeps you going–but it won’t launch a new product and keep it off the ground.

* Is the timing good for adding another output for your business? For Tenacity Jane, finances are an issue. If this product launch fails, will it put you out of business? Is this a risk you can afford to take right now, or should you put it off until your business more stable? A product launch can boost your business–but it also can suck your resources dry.

* Have you done enough research and planning? For some Tenacity Janes, their business results from a great concept but a poor plan. For others, they have a great idea but no clue how to run a business. Make sure all your ducks are in a row before you launch a product. What if your product takes off? Are you equipped to handle a huge increase in business? Remember, if things go well, you’re going to be swamped with more work. And if they don’t, you’re going to be out a lot of money. Either way, you need to be prepared.

* Are you looking at this possible product launch as just another challenge? Well, it’s not! Launching a new product is a big deal. Make sure you’re giving it enough thought, time and attention. We know you’re familiar with struggles, but launching a product has the potential to take up even more of your time, use up even more of your money and cause even more desperation. Make sure you’re ready!

Each Jane presented here–Jane Dough and Tenacity Jane–has several things to consider before launching a new product or service. Each entrepreneur must decide whether this is the right thing to do for her business–and for herself. Because in the end, isn’t that what this is all about? Asking herself the right questions and thinking about the right issues will allow every Jane, when the time comes, to move boldly forward in the future.

About the Author
Michele DeKinder-Smith is the founder of Jane out of the Box, an online resource dedicated to the women entrepreneur community. Discover more incredibly useful information for running a small business by taking the FREE Jane Types Assessment at Jane out of the Box. Offering networking and marketing opportunities, key resources and mentorship from successful women in business, Jane Out of the Box is online at www.janeoutofthebox.com.

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Are you prepared for explosive growth? What will you do when it happens?

Does every entrepreneur seek growth opportunities? Growth can mean more customers, more income, or more opportunities to explore new ideas. Although exciting, growth also brings its challenges, and can spiral out of control if it's not handled properly, causing a setback as big as the potential expansion. Our research shows that the five types of female entrepreneurs have very different attitudes toward business growth (some want it, some don't!) and each will respond to growth opportunities differently. This article will examine the attitudes and reactions of Jane Dough, Merry Jane, and Go Jane Go.

Jane Dough is an entrepreneur who enjoys running her business and makes good money. She is comfortable and determined in buying and selling, which may be why she’s five times more likely than the average female business owner to hit the million dollar mark. Jane Dough is clear in her priorities and may be intentionally and actively growing an asset-based or legacy business. It is estimated that 18% of women fall in the category of Jane Dough.

Because Jane Dough is business-minded and pragmatic, she probably has a plan in place for handling growth. In fact, business growth is something she’s striving for, with most Jane Doughs saying they want to grow significantly within the next couple of years. As a result, she has no doubt delegated individual tasks to specific team members, putting her team and her business in an ideal position to take advantage of the appropriate opportunities that come her way. She has a system – and it’s in place and ready to roll.

Although Jane Dough's systematic approach is one of her many strengths, there is a flip side to high levels of delegation. Sometimes Jane Dough relies too much on the system. She moves quickly to fuel her business growth, so she may not always be in touch with what's happening within every functional area. When large opportunities come knocking while Jane Dough is distracted, weaker parts of the system can break down.

The solution: When massive growth arrives - and it will - a Jane Dough entrepreneur should gather her team for a quick check-in, making sure everyone and every system is aligned and ready to do its part in creating success. In doing so, she'll make sure resources are allocated appropriately and can create plans to strengthen any weak spots.

A Merry Jane tends to be “building a business on the side”—in addition to a day-job, or a focus on family or other pursuits. She doesn’t have a high personal income from her business, but she also tends to be working less than 40 hours a week, and she loves the freedom her business affords her.

Because Merry Jane's focus is more on time freedom than on "big money," major growth opportunities can be a daunting proposition. While many women in this group dream of a day when they land the mega-customer, Merry Jane does not. Although many know they are capable of building a much larger business, now is not the time. During interviews, when asked what they would do if faced with the chance to take on a big new account, most quickly came to the conclusion that unless they could manage the account in their own way and time, they would let the opportunity pass them buy rather than disrupt their lives.

However, many Merry Janes admit they would like their business to be more profitable, wanting more money without much additional work. Therefore, when faced with a growth opportunity, Merry Jane can consider several options:

* She can hire someone to take over some of the more mundane, day-to-day business chores, like bookkeeping and responding to customer e-mails, freeing more of her time to pursue the new business without taking up more time?
* She can pursue the new opportunity at higher rates, therefore increasing her profit. This may mean letting go of less profitable customers or delegating their care to someone else.
* Or, she can stand firm, turning the immediate opportunity down, knowing that at some point in the future, she may have more time available for new customers.

Whatever she decides, Merry Jane should stay true to the reasons she loves her business now so that she doesn't add undue stress and time-pressure to her already busy life.

Go Jane Go is passionate about her work, and has no problem marketing and selling herself, so she has plenty of clients—but she’s struggling to keep up with demand. She may be a classic overachiever, taking on volunteer opportunities as well, because she’s eager to make an impact on the world and may really struggle saying “no”. Because she wants to “say yes” to so many people, she may even be in denial about how many hours she actually works during the course of a week. As a result, she may be running herself ragged and feeling guilty about neglecting herself and possibly others who are important to her.

Overall, most Go Jane Go women don't seek out growth opportunities because they are already fairly busy. However, when an opportunity crosses their path, they will feel compelled to "make it work somehow." Go Jane Go truly wants to help those who need her products or services, so it is difficult for her to turn them away. And because she's excellent at multi-tasking, this Jane may underestimate the time that will be required or may justify sacrificing personal time in order to help someone else.

This is why Go Jane Go must be careful not to overwork herself. When faced with a growth opportunity, Go Jane Go will want to think critically about the amount of work she already has scheduled and either "say no," attempt to postpone the project, or delegate some or all of the work. If she is not willing to do so, she will eventually face serious burn out - so it's very important that this Jane be realistic about her available time and energy for new opportunities.

While every female entrepreneur dreams of growth, when it really comes, it can seem like a huge challenge – and though it may be, handling it the right way can create a huge payoff.

About the Author:

Michele DeKinder-Smith is the founder of Jane out of the Box, an online resource dedicated to the women entrepreneur community. Discover more incredibly useful information for running a small business by taking the FREE Jane Types Assessment at Jane out of the Box. Offering networking and marketing opportunities, key resources and mentorship from successful women in business, Jane Out of the Box is online at www.janeoutofthebox.com

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Growth. It's a word whispered through the lips of female entrepreneurs as they dream about their businesses. But even though you've dreamed of it since you hung out your shingle, are you really ready to handle it when it shows up on your doorstep? Research by Jane Out of the Box, an authority on women entrepreneurs, reveals five distinct types of businesswomen - and five ways they may handle growth. This article details the way two of those "Janes" may handle growth.

Accidental Jane is a successful, confident business owner who never actually set out to start a business. Instead, she may have decided to start a business due to frustration with her job or a layoff and decided to use her business and personal contacts to strike out on her own. Or, she may have started making something that served her own unmet needs and found other customers with the same need, giving birth to a business. Although Accidental Jane may sometimes struggle with prioritizing what she needs to do next in her business, she enjoys what she does and is making good money. About 18% of all women business owners fit the Accidental Jane profile.

Accidental Janes often rely on word of mouth and deep relationships to build their businesses. Massive growth opportunities may catch her off-guard because she's not typically seeking growth, feeling content with where she is today, overall. Therefore, a significant growth spurt might feel overwhelming. It's important to first remember that you do have choices - you don't have to seize every opportunity that comes your way. Consider whether you really want the opportunity, or whether you'd rather you're your business the way it is.

If you decide you desire the growth, remember that you have several factors working in your favor. First, you are a consummate professional - so your new clients/project will undoubtedly be a success. Secondly, you're very well-connected. Reach out to your friends and associates in the business and "share the wealth." Explore ways to partner that get the work done effectively and well, without keeping you busier than you prefer to be. Finally, because your business is generally supporting your financial needs, now may be the ideal time to hire a part-timer to help with some of the tasks you least enjoy, whether that is handling your books, cleaning your house, or doing the filing.

Whether you pursue the opportunity or not, make sure to periodically check in with yourself to make sure you're still happy with what you're doing. One of the most wonderful qualities of Accidental Jane is that she is content, overall, with her business and her life. So make sure massive growth is handled in a way that ensures you maintain your balanced life.

Tenacity Jane is an entrepreneur with an undeniable passion for her business, but who tends to be struggling with cash flow. As a result, she's working long hours, and making less money than she'd like. Nevertheless, Tenacity Jane is bound and determined to make her business a success. At 31% of women in business, Tenacity Janes are the largest single Jane type.

As a Tenacity Jane, huge growth may seem like the ticket to the place you always imagined your business would go. It may be your dream come true - so to take best advantage of it, make sure you create a thorough plan and carefully examine the finances before jumping in with both feet.

Planning and budgeting go hand-in-hand when growing your business. Much of the planning for massive growth has to do with ensuring timelines are reasonable and there is sufficient profit to make the work worth it. Consider this example: You sell a product for $100 that costs you $80 to make and takes 30 minutes per order to customize. You've got sales of $5,000 a week (50 units X $100). You're working on orders 25 hours a week (50 units X 30 minutes) and clearing $1,000 a week (50 units X $20 profit) - for hourly "working time" pay of $40/hour.

A retailer has just called to say they want to order in bulk. They want an additional 100 units a week, and they want you to reduce your cost to $90, which they will mark up to earn their profit. It's thrilling to think about doubling your volume with just one customer - but can you create a financial plan that makes this work?

* You'll need an extra 50 hours a week in product customization. You clearly can't do that yourself, so you plan to hire 2 people at $15/hour for 20 hours per week, each. This is going to cost $600/week. And, you'll do an extra 10 hours a week yourself. Managing the two people on your team will take an additional 5 hours of your time each
week.
* Your weekly revenue will now be $14,000 ($9,000 from the 100 new units at $90 each, plus your existing customers at $5,000/week) - massive growth!
* But your income per hour of your time actually diminishes. You "clear" only $1,400/week (your original orders of $1,000 plus only $400/week on the new customer orders after you pay your team and because the new customer wants you to reduce your rate). Remember, too, you're working an extra 15 hours - so your hourly rate falls to $35/hour. And you're busier than you've ever been.

Another planning consideration is cash flow. When will you pay your two people? When do you pay your vendor(s) who provide the materials for the product you're making? And, importantly, when will you be paid?

Your out of pocket costs for materials to make the product will triple, because you're now making 150 per week instead of 50 units. If you have to front those costs and if you pay your team members weekly, costs will really build up. In a four-week month, you will "front" $50,400 for your business. If your customer is going to pay you on 30-day terms, do you have the $50,400 you will need to keep the business afloat while waiting for the cash to flow in?

This exercise isn't meant to be bleak - it should be empowering! By breaking down the plan and budget, you're now in a position to really negotiate with this customer. All of the following are options:

* Tell the customer you can't sell to them for $90, but you can for $95. (This would boost your hourly rate to $47.50 and clears $1,900/week.)
* Tell the customer you can only negotiate on price if he/she pre-pays monthly (ensuring you have cash flow).
* Hire a 3rd person at $15/hour to do half of your work. (This will add an additional $300/week in expense, but your hourly rate will increase to $55/hour even under the $90 pricing scenario - and you'll have more time than you do today to find another big customer.)

As you can see, taking the time to plan and budget will ensure that your massive growth doesn't break the bank. Knowing the parameters of profit and loss will help you make smart decisions and give you strength when you negotiate. Take the time to make sure you have a solid understanding of the system that will sustain your growth so your
business can thrive.

Whether you're an Accidental Jane or a Tenacity Jane, growth can be a pleasant surprise and a great opportunity to make more of your business. It can be the chance you've been waiting for to achieve the dream you've been dreaming - just make sure you accept on your own terms!

About the Author:

Michele DeKinder-Smith is the founder of Jane out of the Box, an online resource dedicated to the women entrepreneur community. Discover more incredibly useful information for running a small business by taking the FREE Jane Types Assessment at Jane out of the Box. Offering networking and marketing opportunities, key resources and mentorship from successful women in business, Jane Out of the Box is online at www.janeoutofthebox.com

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It can make good marketing sense to partner with a nonprofit or a cause.

Consider what my marathon friends did when they were raising money to participate in the 3-Day Walk (you walk 60 miles in 3 days to promote breast cancer awareness and raise money for research). They approached a local restaurant called Backburner, which was famous for their cinnamon rolls. For a week, every time someone bought a cinnamon roll, they donated $1 to my friends for their walk.

I personally hadn't heard of the restaurant, but when I found this out, my husband and I went and had breakfast there (complete with a cinnamon roll of course!)

So this turned into a win-win for everyone. My friends won because they were able to get donations for their walk. Susan G Komen wins because they get more money to donate to research. The restaurant wins because they get additional promotion and good will helping out a good cause. And I won because I got to eat a yummy breakfast and discover a new restaurant. (We're ignoring the calories I consumed here.)

More than ever before, consumers are socially minded. In many cases they want to know the businesses they patronize are also socially minded. Connecting your business to a good cause is more than just making you "feel good" it can also make good business sense.

So what are some ways to start? (Other than writing a check.) Well, here are a few ideas you can use:

1. I'm participating in a teleclass summit to help raise money for St. Jude's Children Hospital. Why not put together your own telesummit and have proceeds go to a good cause?

2. Or if a summit is too much work, just do one teleclass, charge a low fee and let people know proceeds are helping support a cause.

3. Have a sale and let people know a percentage of proceeds are going to support a nonprofit.

4. Offer to give a product of yours for free if people donate. Or put together a special teleclass only for people who donate. (I would put a time frame around this if you do this, for instance they have 48 hours or a few days to donate.)

5. Put links to your favorite nonprofits in your newsletter or on your website. (But don't make it so prominent you encourage people to click away from your site and not support YOU.)

6. Give away your time. If you're a service professional and you find your client pipeline has slowed down or dried up, donating your time to a nonprofit can be a good way to jump start your business. The exposure can help you find new clients plus you can make it known you support their cause. (And don't forget to get a testimonial.) Now, be careful with this strategy, I've used it myself but make sure you don't go too crazy donating your time or you could end up getting really stressed out when you client work picks up again.

But whatever you do, make sure this is coming from the heart. People can sense if you're not being sincere, so make sure you truly do believe in the cause if you're going to publically help support it.

Michele PW (Michele Pariza Wacek) is your Ka-Ching! marketing strategist and owns Creative Concepts and Copywriting LLC, a copywriting and marketing agency. She helps entrepreneurs become more successful at attracting more clients, selling more products and services and boosting their business. To find out how she can help you take your business to the next level, visit her site at http://www.MichelePW.com.

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Chances are, people who are in business for themselves view financial freedom as a motivating factor for venturing out on their own. Money in the bank—time off for friends, family and travel—and even a luxurious lifestyle can all be part of the vision that entrepreneurs have when they set off to build a business. But according to the latest research, when it comes to women entrepreneurs, financial prosperity isn’t the only carrot: the desire for “greater work-life balance” is also a primary motivating factor.

A new study from Jane Out of the Box, an authority on women entrepreneurs, reveals that there are a significant number of women in business who’ve created significant financial success, but who may feel overwhelmed by a to-do-list that is out of control. This article provides important “Do’s” and “Don’ts” for duplicating the success of the market segment known as “Go Jane Go” in the year ahead—without taking on the stress of her hectic life.

Comprising 14% of all women entrepreneurs, Go Jane Go is passionate about her work, and has no problem marketing and selling herself, so she has plenty of clients—but she’s struggling to keep up with demand. She may be a classic overachiever, taking on volunteer opportunities as well, because she’s eager to make an impact on the world and may really struggle saying “no”. Because she wants to “say yes” to so many people, she may even be in denial about how many hours she actually works during the course of a week. As a result, she may be running herself ragged and feeling guilty about neglecting herself and possibly others who are important to her.

At the same time, her hard work is also paying off. Go Jane Go takes home more money from her business at the end of the day than any other segment of female entrepreneurs, and she’s four times more likely than the average female entrepreneur to have hit the one-million dollar mark. However, her “big paycheck” may reflect a tendency to delay hiring people to help her get the work done.

Other types of women entrepreneurs can learn a lot from Go Jane Go’s can-do attitude that will help them achieve financial success. Just remember that it is possible to have too much of a good thing. Business owners who know they’re a Go Jane Go must pay careful attention to the pointers below. Where might a business owner be able to gain a little perspective that will help her gain better balance in her life overall?

1) DO—Be an idealist

A big-picture vision of her life’s purpose is a motivating force, and it’s a big part of why Go Jane Go is so successful. Knowing what she stands for will not only help her get out of bed in the morning inspired by the possibilities, it will attract clients to her door who can see big things for themselves.

2) DON’T—Be a perfectionist

While providing a great product or service is virtue—and going the extra mile to make it happen can help to set you apart—pushing herself too hard is not a sustainable strategy in the long run. Perfectionistic habits may cause Go Jane Go to wind up working very long hours, contributing to her stress level and guilt feelings. Remember that satisfying customers, if an entrepreneur is a natural perfectionist, is often easier than meeting her own exacting standards—so learn to recognize when “good is good enough” – because Go Jane Go’s good will be better than many people’s “best”.

3) DO—Build a team

Go Jane Go knows how to attract other people who are equally good at what they do and can be an effective catalyst that inspires her team members to go the extra mile. She’s great at recognizing and appreciating others and gladly and generously shares all kudos with members of her team.

4) DON’T—Ignore Poor Performance

Although she inspires others to want to go that extra mile, Go Jane Go may be better at seeing someone’s potential than their actual performance. As a result, when a team member is not performing, she may tend to make excuses for that person. Rather than initiate what she may perceive as a confrontation, Go Jane Go may burn extra energy following up with the poor performer, attempting to understand the reasons behind the performance issue instead of addressing the problem directly. Or, she may start gradually removing work from the person, doing more and more herself as her trust in them diminishes. If an entrepreneur has had problems giving critical feedback in the past, she should commit to herself that she will no longer let such things fester.

5) DO—Deliver great customer service

Go Jane Go tends to be all about relationships, and this is a key factor in her success. She knows that integrity and communication are the twin pillars of lasting business relationships, and she knows how to be responsive to her clients’ needs, desires and timeframes. As a consequence, her customers love her, and recommend her to everyone they know.

6) DON’T—Forget to set aside “self-time,” which is important as “business time”

Go Jane Go can keep herself so busy meeting others’ needs that she seldom has time to take care of herself. She is often last on her own to do list. This may manifest itself in taking client calls after hours or on weekends, giving more hours to volunteer activities than she originally agreed, or investing lots of time in counseling and supporting other people. While being responsive is important, returning phone calls after hours or spending weekends putting out fires are habits that quickly become counterproductive in terms of creating or maintaining the life balance many business owners seek. Most problems are not dire emergencies and will wait. People respect those who have good and reasonable boundaries. Also, while volunteering for a great cause can be a deep source of personal satisfaction, over-committing is another classic habit of the overwhelmed and over-stressed. Go Jane Go should carefully consider before investing more time, and make sure she is investing sufficient time in herself to feel rested and ready to go.

Go Jane Go proves that being loving in business, having high personal standards, and the confidence and passion to help others succeed are a winning recipe for financial success as an entrepreneur. For business owners who see this as their style, the key is to care for themselves as compassionately as they care for others. Over the long haul, this is necessary to ensure they can be their strongest, happiest selves … and therefore do even greater work in the world.

About the Author:

Michele DeKinder-Smith is the founder of Jane out of the Box, an online resource dedicated to the women entrepreneur community. Discover more incredibly useful information for running a small business by joining Jane out of the Box. Offering networking and marketing opportunities, key resources and mentorship from successful women in business, Jane out of the Box is now available as a FREE membership. Claim yours today at www.janeoutofthebox.com

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Determining whether a particular skill you possess is natural or acquired is an important step to doing more of what you do best. Because many of of our natural skills bring a greater feeling of joy, these skills are worth discovering and developing.

A “skill” is a behavior or ability you’ve developed through training or experience. And, while all personal skills are behaviors, not all behaviors are skills. For example, telling a joke is a skill; laughing at a joke is a behavior.

Some of your skills are natural, meaning that were born with the potential to develop them easily. By the way, you usually have a strong affinity for those skills which are natural to you. Some of your skills are acquired, meaning you had to put more effort into developing them than you did your natural skills.

You may be able to perform both with equal ease, but the skills that are acquired will cost you more in terms of psychological, emotional and physical effort. The skills that are natural to you tend to bring with them fulfillment and joy, leading to a greater feeling of life success.

Take 10 minutes to reflect on the behaviors you perform every day.

o Which of these behaviors are skills?
o Which of these behaviors do you find easy, look forward to doing, or gain great satisfaction when you do them?
o Which do you find more challenging?
o Which do you find yourself putting off or postponing?

These are important keys to discovering your natural skills. Discovering and nurturing a new talent is an opportunity to find what you need to be successful in life and enjoy life more fully. When we are doing what we love, we are often performing at our best. This leads to a kind of fulfillment that allows us to live life passionately and happily.

To learn more about discovering your natural skills please visit www.vrft.com.

About the Author:

Gary Jordan, Ph.D., has over 27 years of experience in clinical psychology, behavioral assessment, individual development, and coaching. He earned his doctorate in Clinical Psychology from the California School of Professional Psychology – Berkeley. He’s the co-founder of Vega Behavioral Consulting, Ltd., a consulting firm that specializes in helping people discover their true skills and talents. www.vrft.com.

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Over the past 20 years, the number of businesses owned by women has grown by more than 42%. In fact, in 2008, women-owned firms accounted for more than 1.9 trillion dollars in sales.

But while more and more women are eager to become small business owners, they're also still facing more challenges than men. Businesses owned by women are nearly 50% less likely to reach the million dollar mark—and often produce less return on investment for hours worked.

A new study by Michele DeKinder-Smith, market research professional and founder of the website www.janeoutofthebox.com, has recently released a study that reveals five different types of female entrepreneurs. Each personality type has a different approach to business, along with different strengths and challenges.

Success can be defined in many ways and it's clear that each of the five types have their own definition of success. Taken overall, if we consider business revenue and personal satisfaction with work/life balance, one might say that the type that is most conventionally successful is the type known as "Jane Dough".

Why should we pay attention to Jane Dough? Comprising 18% of all female entrepreneurs, she's five times as likely to hit the million dollar mark as the average female entrepreneur. She's also one of the groups most satisfied with her work/life balance. So, if growing a large business while working reasonable hours is important to a business owner, she can learn from Jane Dough's characteristics, behaviors and decisions.

Here are some of the traits that tend to make Jane Dough so successful.

1) Focus on growth

Running a business is filled with a ton of minor details, every day of every year. But Jane Dough has learned how to personally stay focused on the big picture: growing her business. This means getting past the details, the billable hours and the overdue invoices—and paying attention to the process of getting (and handling!) more business, in less time.

2) Building teams and systems

Jane Dough knows there's only so much a woman can do by herself. Because business growth is an important goal, she's learned how to build a team and delegate responsibility. This means using systems that create leverage and prevent her from falling victim to the 'dollars for hours' trap.

3) Prioritization

Along with a focus on growth and systems, Jane Dough tends to prioritize those activities that will make her the most amount of money with the least amount of personal time expended.

4) Looking ahead

How does Jane Dough stay so focused on exactly what she needs to do to grow a successful business? Well, many of these women started their companies with a big vision and/or they are intentionally building a business they can later sell or pass on to their children. These big, longer-term priorities help her stay consistently focused on the big picture.

5) Putting in the hours—but leaving work at work

Jane Dough is the type of entrepreneur who's willing to put in the hours it takes to make her business successful. However, unlike some other types of female entrepreneurs, for whom business can be intensely personal, Jane Dough understands that work is work and that tomorrow is another day. Because she's supported herself with systems that give her the flexibility to problem-solve when she needs to, she feels confident that she can and will be able to manage things during the hours she has designated for work. Yes, she might check her email in the evening after she's home, but she's not going to consistently find herself spending her personal time as a slave to demanding customers. Her ability to mentally keep work and personal life reasonably separated and her perspective and confidence that she can solve any problems tomorrow contributes to her higher-than-average work/life balance.

6) Confidence in marketing and selling

While many women in business express concerns about their ability to successfully market their business for profitability, Jane Dough is highly confident in selling both herself and her business. This confidence (which can be learned!) is a major factor in her financial success.

7) Perspective

When the going gets tough, Jane Dough stays focused, and doesn't let doubt creep in. She tends to view challenges and setbacks objectively rather than personally, and keeps focused on her big picture goals. Jane Dough loves her business and she keeps it in perspective, as well.

Interested in learning more about the five Jane types and which Jane you are? Check out www.janeoutofthebox.com.

About the Author:

Michele DeKinder-Smith is the founder of Jane out of the Box, an online resource dedicated to the women entrepreneur community. Discover more incredibly useful information for running a small business by taking the FREE Jane Types Assessment at Jane out of the Box. Offering networking and marketing opportunities, key resources and mentorship from successful women in business, Jane Out of the Box is online at www.janeoutofthebox.com.

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You may be a small business, but chances are you collect some form of PII. Even small businesses are accountable for the safety of user PII, and thereby must take adequate measures to protect it. Lead Microsoft.com editor Monte Enbysk gathered TRUSTe’s insight to help develop 6 privacy tips for small businesses:

1. Take inventory of the personal information you collect and store.

2. Analyze how safely you use and store this data.

3. Make sure you’re complying with industry or federal laws.

4. Post a privacy policy that is clear and comprehensive.

5. Have your policy reviewed by an attorney or by a privacy seal program.

6. If you have employees, make sure their personal information is protected too.

According to Enbysk , you should seek the expert opinion of a privacy service like TRUSTe who can help ensure the accuracy and validity of your privacy statement. Not only may a third-party privacy authority ensure your privacy statement and practices are up to par, but a seal from TRUSTe can benefit your brand.

“The Web privacy seal is one of TRUSTe's most popular products,” says TRUSTe’s VP of Communications, Carolyn Hodge. A privacy seal may be most beneficial to small e-tailers with little or no name recognition outside their hometown or region.

About TRUSTe

TRUSTe Privacy Seals help consumers click with confidence by guiding them to trustworthy Web sites. More than 2,400 Web sites rely on TRUSTe industry best practices to help them make the right decisions about privacy and protecting confidential user information. Half of the top fifty Web sites are certified including Yahoo, AOL, Microsoft, Disney, eBay, Intuit, and Facebook. Independent research shows that when a TRUSTe web seal is present, visitors are more likely to share personal information, register at higher rates and spend more money. To learn more about internet privacy services for SMBs, visit http://www.truste.com/privacy_seals_and_services/small_medium_business_privacy/index.html

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I recently finished watching Season 1 of True Blood. While I can see why it's not for everyone, I myself enjoy a good vampire romp, especially when it's populated by such a nice selection of hot-looking actors (who have no issues showing off their equally hot bodies).

Anyway, it got me thinking about all the vampire stories out there. Vampire legends have been around for centuries and in nearly every society. Vampire movies, shows, books, etc. continually pop up on a frequent basis.

So why all the fuss? What is it about vampires that just won't die (pun intended)?

Well, I've come up with 2 theories:

1. There REALLY are real-life, blood sucking, undead vampires roaming about.

2. There REALLY are vampires roaming about, but they're HUMAN vampires, sucking the energy, money, health, time and more out of other people. And these vampire stories are actually a combination of cautionary tales (evil vampires we need to kill) and a way to transform and tame our "inner vampire" to something loving and human (the vampire love stories).

For my part, I'll put my money on number 2. Which leads me to how this can help your business.

Vampires are everywhere. I don't think it was a coincidence I finish watching True Blood and discover one of my friends and clients was scammed. Con artists and scammers are just another sort of human vampire -- typically they're charming and attractive in some way to their victims (for instance, they're offering something attractive) then suck them dry of money, energy, time or more.

The thing about vampires is they're hard to spot. (Vampires look human and in many cases they're beautiful.) This is why a lot of times you'll let a vampire in, not knowing it's a vampire until after you've been bit.

Here are some signs of common vampires that can be sucking the life right out of your business:

1. Are there tasks you do in your business that drain you? Typically these are tasks you don't like doing and you're probably not much good at them either. Yep, you're looking at a vampire. The good news is these vampires are selective in who they bite. (Or maybe these would fall into those vampire love stories -- one person's dream vampire love is another person's worst nightmare.)

Solution -- do a bit of vampire matchmaking and outsource, find the people who love those tasks and let them take over.

2. Are there people who drain you? Maybe they're a vendor or a client you really have trouble working with. They suck up a lot of your time and energy (and maybe even money) and you're always exhausted after your encounters.

Well, this could be 1 of 2 things -- either you have a real human vampire on your hands who makes a habit of sucking the life force out of everyone they meet, or this is like a task vampire. They don't do it to everyone, in fact they probably don’t even want to be a vampire, but some people bring out the worst in them.

Solution -- it's the same, these people are toxic to you for whatever reason and it really doesn't matter if they're toxic to everyone or just to you, you still need to remove them from your life.

From time to time it's always a good idea to scan your business and your life for any vampires, and if you find any, to send them on their way. Remember, vampires are seductive, so unless you're looking for them you just might miss them.

About the Author
Michele PW (Michele Pariza Wacek) is your Ka-Ching! marketing strategist and owns Creative Concepts and Copywriting LLC, a copywriting and marketing agency. She helps entrepreneurs become more successful at attracting more clients, selling more products and services and boosting their business. To find out how she can help you take your business to the next level, visit her site at http://www.MichelePW.com.

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When you start working with a new one-on-one or high-end client you want to set the scene for your relationship together and make them feel that they really have made the right choice in deciding to work with you – even though YOU know that they have!

Whether you’re a coach, VA, or other service professional when you work one-on-one with your high-end clients you need to develop the “VIP experience” so that your clients feel that they are more than “just another client”. This goes beyond the professional, courteous, customer service that is part of your business but extends into the “experience” of your business – it’s about how you make your clients feel and the experience they get as a result of working with you.

One of ways in which you can do that is to develop a Welcome Packet that you give to your client as soon as you’ve agreed to work together. A Welcome Packet is a document – it can either be printed and mailed or digital and emailed – that you send out to your new clients when they sign up to work with you, and cements the relationship you are about to have with them.

Each business owner’s Welcome Packet is going to be different, depending on their business and what they want their clients to know, but what I’d like to share with you today are some key elements for including in your Welcome Packet. You don’t have to include all of these in your own, simply use this as a guide for developing your own unique Welcome Packet:

1. Welcome Note from You: when your client opens their Welcome Packet make the first thing they see a welcome note from you. Introduce your business and tell them how you help clients – I know they may already know this from your initial conversation with them, but it helps to reinforce their decision.

2. Personal Note: include some personal tidbits about yourself, your background, and your story, i.e. how you came to be a solo service professional. If you can, add an informal picture so your clients get to see the person, not just the business owner. This will help to cement the relationship going forward as they’ll feel they’re getting to know you already.

3. Enrollment Form/Project Booking Form: depending on your profession you may have an enrollment form if you’re signing up a client to one of your coaching programs, or a project booking form if you’re a VA. On this form have space for your client to fill in all their details and a place for them to sign so that they can fax this back to you – and include all the details about your program/service that you’ve already discussed. This confirms the arrangement you’ve both made, and both parties know exactly what they’re signing up for.

4. Terms & Conditions: okay, this isn’t exactly exciting reading material but it’s very, very important. It sets out specifically what your terms and conditions are, i.e. payment policies, payment methods, confidentiality etc. etc. Now this part will very much be unique to your business, and if you’ve had something formal drawn up by an attorney make sure you include that here too.

5. Credit Card Authorization Form: you want to get paid, right? Be sure to include this form on a separate page so that your client can fax back their credit card details to you. And I *highly recommend* that you tell your client to fax or mail this form to you, and not email it. Why? Because this is confidential information and standard email is not secure – think in terms of a postcard being sent through the mail; anyone can read it!

6. Policies & Communications: this part is important because it sets the boundaries for your business. It lets your clients know, amongst other things, how and when they can communicate with you i.e. you can state that phone calls must be scheduled in advance or you’ll only take calls between certain hours – you don’t want clients calling you at eight o’clock on a Sunday evening, do you? And if you’re a VA it might include some information about how you schedule work priorities, handle urgent requests etc.

7. Additional Services/Programs: this can also be a good way to let your clients know about other services, products, and programs that you offer – just a one page sheet is enough to give them a taste of how else you can help them.

Oh... and one other point about creating your Welcome Packet – make sure it’s professionally laid out and presented – it all goes towards creating the “VIP experience” for your clients.

About the Author
Online Business Manager & Virtual Assistant, Tracey Lawton, supports professional speakers, coaches, and authors to operate an efficient, organized, and profitable business. Learn how to create an efficient and organized office in 7 EASY steps, and receive free how-to articles at http://www.OfficeOrganizationSuccess.com.

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Sometimes, smaller is better--just ask the small business entrepreneurs also called micropreneurs flourishing in today's marketplace. A growing set of entrepreneurs are building successful businesses by serving a niche market. Micropreneurs aren't trying to become the next Bill Gates or Larry Ellison. They're thriving small-scale on the strength of a loyal customer base and utilizing social business networking and utility tools to help with sales lead generation.

Micro-Enterprises Rely on E-Commerce Solutions

Micropreneurs are rewriting the rules of small business--and they're relying on the internet to make their business model work. A New York Times feature on startups explains: "the Internet has given people an extraordinary tool not only to market their ideas but also to find business partners and suppliers, and to do all kinds of functions on the cheap: keeping the books, interacting with customers, even turning a small idea into a big idea."Thanks to a range of online small business resources, today's micropreneurs have the resources to build their venture on a shoestring budget.

With minimal upfront investment, you can:

1. Create an Internet storefront for retail sales. E-commerce solutions can create a Web site with point-of-sale (POS) capability. Online POS systems enables secure credit card processing on your site, allowing you to keep the doors open 24/7.

2. Reach your niche market. Online sales lead generation and marketing tools excel at targeting interested consumers and businesses.

3. Communicate with your customers via online business networking tools, a blog, or social networking tools. Social media sites offer powerful resources for finding your needle in the haystack, also known as your niche customers and partners. They can also help you keep in touch; today's customer service agents use online media such as twitter, facebook, tradeseam and email correspondence to connect with the public.

4. Need niche supplies or equipment to launch your niche business? Tradeseam connects entrepreneurs and suppliers of all stripes. You'll find business resources including manufacturing companies, international suppliers, and everything under the sun online.

5. Web-based technology offers a range of resources for small business owners. Time-tracking software and online accounting programs are just two examples of today's affordable, productivity-enhancing business tools.

6.The Internet offers the reach and low startup costs to support a niche business.

7. For many micropreneurs, the Eureka moment--the business idea--derives directly from a personal passion.

The following entrepreneurs built a following--and a profitable business--catering to like-minded individuals.

Specialty Food Carts
El Dorado tacos? Chow Fun to go? More and more specialty food carts are cruising urban neighborhoods, with offbeat menus to serve the random craving. Restaurant consultant Clark Wolf notes: "Mobile food is one of the hottest things going all over the country. Brooklyn has its ribs truck, Manhattan has its dessert trucks, and now Los Angeles has the cupcake patrol."
Specialty food carts rely on social networking tools such as Twitter, Facebook to broadcast their coordinates. The strategy seems to work. L.A.'s Kogi taco truck draws between 300 and 800 by tweeting its location in advance, "setting off a taco-minded flash mob."

Pedicab
A physically fit duo in Spokane, Washington has pedaled to success with a pedicab service. Cheaper and more eco-friendly than a cab, the bike-based taxi is finding no shortage of riders around the downtown area. To get the wheels rolling in your own leg-powered cab service, you'll need pedicabs, licenses, insurance, and a local marketing campaign. Once you've gained a loyal ridership, you can establish a call center or online-based dispatch service linking riders to your mobile phone.

Guerilla Marketing Agency
Seattle businesses looking to make a unique statement can count on Wexley School for Girls to get the job done. The agency uses off-the-wall guerilla marketing stunts to build publicity for clients. For example, they created a buzz around Copper Mountain ski resort by staging a National Snow Day with improv ski-patrol actors and fake snow. The stunts aren't for everyone; "either you get what Wexley is selling--a very particular sensibility and approach toward marketing--or you don't," comments an admirer. But the agency isn't looking for mass appeal: "Wexley is biting off little pieces, looking to take on a particular niche of a business."
Build your own businesses staging publicity events for businesses. Start with an eye-catching Website Design and online marketing campaign to get the word out. As the costs of running a business come down, micro-enterprises are flourishing. These small businesses focus on a loyal niche, taking advantage of online business networks to communicate with customers, source, distribute, and to manage the venture.

In today's Internet-driven economy, it's no longer necessary to chase the next big thing. A great small idea can take you even further.

Niki is an entrepreneur, business consultant and advisor to several small business entrepreneurs in the San Francisco bay area. She writes extensively on the small business blog and is a frequent contributor to several small business resource and networking sites that offer tools and resources for entrepreneurs and small business owners, including Tradeseam, Dell, Women On Business and Small Business Community.

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Your employees are your business’ most expensive asset. According to one estimate, up to a third of a person’s salary is devoted strictly to hiring costs. The cost of hiring the wrong employee is even more- reportedly up to twice an employee’s annual salary. Making smart hiring decisions can be tough- you want an employee that has the requisite skills, qualifications, and certifications, but you also want someone that’s the “right fit” for your business. While it’s relatively easy to verify whether or not an employee graduated from a particular institution or has a driver’s license in a certain state using a background check, the “good fit” question can be a little bit more complicated.

Social Media Searches in Hiring
The Federal Fair Credit Reporting Act defines a “consumer report” as “…any written, oral, or other communication of any information by a consumer reporting agency bearing on a consumer’s credit worthiness, credit standing, credit capacity, character, general reputation, personal characteristics, or mode of living….” You’re not the only one thinking that that description is a little vague. A social media search, especially when conducted by a third party as part of a background check, can constitute a “consumer report” for legal purposes. A social media search also typically reveals all kinds of information that is “off limits” for consideration during the hiring process- for example, a person’s race, age, marital status, etc. You can’t consider these characteristics or a host of additional factors- for example, whether the person is pregnant, disabled, or belongs to a certain religious group. Even if you come across this information when you’re not specifically looking for it (as with a social media search), it’s impossible to unring the bell. What’s worse, information may not even be accurate- you may end up discounting a great prospect because of information they weren’t even aware was posted.

Disclosure and Consent
The best policy (if you want to avoid liability) is one of full disclosure- tell the prospective employee that you will perform an online search. The FRCA requires notice to prospective employees whenever you prepare a consumer report (as defined above)-whether you prepare it yourself or use an employment background check service. Outsourcing employment screenings can be a great idea for businesses that aren’t sure about the regulations, procedures, and policies that they need to comply with to perform a legal background search. Though legal opinions vary with respect to social media searches in hiring, it’s better to err on the side of caution- and FRCA compliance.

About the Author
Merrin Muxlow is a writer, yoga instructor, and law student based in San Diego, California. She writes extensively for Resource Nation, a company that provides resources for business owners, and is a frequent contributor to several sites and programs that offer tools for entrepreneurs, including Dell and BizEquity.

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Let me share a secret with you that many successful online solopreneurs already know - you have to manage your business before you can market your business, and if you’ve been with me for a while you’ve no doubt heard me say this many times!

So, if you can answer YES to at least ONE of these questions then you know you are not effectively managing your business:

* Do you feel overwhelmed at the start of each day – you don’t know what to do first?

* At the end of each day do you feel like you’ve achieved nothing, yet you’ve been ‘busy’ all day?

* Do you find projects/clients are falling through the cracks?

These are some of the classic signs of a LACK of systems – you’re not effectively managing you business so how can you effectively market your business? You don’t have your core systems in place and your business is running you when it should be you running your business!

Let me share with you now five ways you can start to manage your business so that you can effectively market and grow your business:

1. Review your current systems. The first thing you need to do is look at the systems you currently have in place. What is it that constantly frustrates you, or that you feel you are spending too much time on? Are you continually searching around looking for an email address? Or cannot tell at a glance if your project is on track? Make a list of where you feel the problems are - these are your time drains. This is where you need to make improvements in your systems so that they work for you and not against you.

2. Set about creating your core office organization systems. Now that you know where the problems are you can begin to take steps to improve them – in other words you can now start creating your core systems! A system is simply a description of HOW you do something. For example, how do you create a new client file? How do you handle new client enquiries? Look at those areas you’ve already identified as your time drains and decide how these time drains can be turned into a system. List all of the steps you take in a process from start to completion – these steps will form your system.

3. Systemize repetitive tasks. If you find yourself doing the same task over and over again then you need to create a system for it. One example could be you’re answering the same client enquiries again and again. The easy way to resolve this is to put all those questions together in one place and create an email template. The next time a client asks you a question you simply open the email template, put their email address in the ‘To’ field, and hit send! Or, an alternative option would be to create a FAQ (Frequently Asked Questions) page on your website and direct enquiries there.

4. Create a calendar template. Now that you have your core systems in place, start and look at how your work week is structured. Create a calendar template that blocks out time for certain activities, i.e. you might decide that Friday is your business development day, Monday is for marketing, and Tuesday through Thursday are for clients/revenue-generating activities. Once you create a structure around your work week you will find that you become much more focused and productive.

5. Create a long-term plan. I’m a huge fan of spreadsheets – they can be used for so much more than just sums! And I use them to plan out my whole year. I have created an annual marketing plan that shows me month-by-month what programs I’m going to be running, what promotional activities I’ll be doing, and which list building strategies I’ll be implementing. This takes a lot of the guess-work out of running my business because it means I always know where I’m going!

I guarantee that you too will start to see an increase in your business, your income, and your productivity if you start to implement some of the steps I’ve suggested above. You’ll wonder why you left it so long.

About the Author
Online Business Manager & Virtual Assistant, Tracey Lawton, supports professional speakers, coaches, and authors to operate an efficient, organized, and profitable business. Learn how to create an efficient and organized office in 7 EASY steps, and receive free how-to articles at http://www.OfficeOrganizationSuccess.com.

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The other day when I was running/walking a 10K race, my knee started hurting. It had been troubling me off and on for about a month but I thought I had it under control.

My initial reaction was to grit my teeth and walk through the pain. That's what I normally do, and it's what I do when I walk marathons.

But then I reconsidered. I had just passed the 4K marker when it really started hurting so I had more than half the race ahead of me. And then I started thinking, why am I doing this?

Clearly I had an issue with my knee. And I could force the issue and hurt it worse. Or I could quit and work on healing it.

I opted to quit and live to walk another day (sooner rather than later).

So that got me thinking, when is it okay to quit and when should you muscle through it? How do you know if this is the time you should throw in the towel or is this just more of your demons popping up to torture you?

Here's a little system you can follow to help you know the difference:

1. How important is this? Are you talking about the life of your business (i.e. quitting it all and getting a job) or are you talking about dumping a product that isn't selling well (and to be honest, you never liked much anyway)? If it's the product, then yeah -- quitting might be the smart thing to do. If it's your business, then it's probably your demons doing a jig in your brain.

In my case, doing a 10K isn't that big of a deal. I'll do a 10K on a weekend. So to cut this race short wasn't an issue. Not tearing my knee up was far more important than finishing the race. Which leads me to my next point:

2. How important is it for you to quit? Or what is the cost if you don't quit? Is there someone you work with (like a customer or a vendor) who is toxic to you? (For example, they're costing you tons of time and/or money and you're getting very little in return. Or, worse yet, they're involved in something unethical that could hurt your reputation, or worse, something illegal.) Depending on the severity of the issues, you probably want to dump that relationship. Or are you just feeling uncomfortable or discouraged or stuck with your business? Nope, not a good reason to quit your business.

In my case, not being able to walk for a month was way too high of a trade off then quitting the race early.

So, here's how this works. When you're faced with something you're thinking about quitting, ask yourself both questions, then compare the answers. If the answer to number 1 is high, and the question to number 2 is low, then you shouldn't be quitting. If the answer to number 1 is low and the question to number 2 is high, then you should be quitting.

Where it gets a little tough is if the answer to both questions is the same. Then, you need to dig a little deeper. One is got to be stronger than the other (for instance, if you're looking at something that's really important to you, is the cost not to quit as high as you're really saying or are you just scared right now?)

My other rule of thumb is answer to the first question is probably the way you should go. If what you're looking at is very important, then you probably shouldn't be quitting. If what you're looking at isn't all that important then you probably should be quitting. (After all, why are you wasting your time with it if it isn't that important?)

About the Author
Michele PW (Michele Pariza Wacek) is your Ka-Ching! marketing strategist and owns Creative Concepts and Copywriting LLC, a copywriting and marketing agency. She helps entrepreneurs become more successful at attracting more clients, selling more products and services and boosting their business. To find out how she can help you take your business to the next level, visit her site at http://www.MichelePW.com.

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Article Contributed by by Roxanne Emmerich

Execution is everything. Plan all you want, dream all you can, then turn that key or you've accomplished nothing. Execution is what separates those with lofty ideas from those who end up winning the game. It's about taking strategies and making sure they are implemented with power.

Creating a culture of execution is a leadership issue. It combines creating a "no-excuses, get-it-done" culture with the systems, processes, and accountabilities that ensure things are done consistently and well. But it's also more than a leadership issue.

Plan, execute, measure, celebrate

People at every level in an organization can get bogged down in planning and strategizing without ever getting off the pot.

It's easy to guess which things in a company are measured and audited: It's the things that people actually DO and do well. If you want something done with fairly strong consistency, set measurable benchmarks.

But don't forget to put systems in place to see if the benchmarks are being met. If a standard is measured in the forest, and no on is there to audit it--does it make a difference? Not bloody likely. Why should it?

You can't monitor and audit every facet of your business, or you won't have time to run the business. So where does execution matter most? It matters most in the critical moments I call Moments of Truth--the moments where execution can mean the difference between success and failure.

Focus like a laser on Moments of Truth

Moments of Truth are those critical times when a customer forms an impression of you, deciding whether your offerings and their standards see eye-to-eye. Though they vary from industry to industry and business to business, every business has them. Define them, create measurable goals and a way to assess progress, and GO.

Use weekly planning meetings in which each attendee declares focused results following a clean process and you will create magic. These meetings create the engine to keep people focused on doing the right things and getting results in the areas that matter. It also reveals the "stealth slackers"--those who are otherwise masterful at hiding and looking busy. Got some of those?

Don't let "busyness" get in the way of business

Top performers don't just stay busy--they know how to get the RIGHT things accomplished. Top performing leaders also know how to get their people focused on doing the right things, especially those things intimately tied to the Moments of Truth that can make or break a company. They know that accepting no excuses from their team members means permitting no excuses from themselves as well.

In the end, execution boils down to three crucial ideas:

- Define your Moments of Truth and how you will measure progress.
- Put systems in place to instruct and assess, then hold people accountable (including yourself).
- Celebrate victories large and small at every step along the way.

Miracles are supposed to happen, but they require a steadfast, ironclad system of execution and a leader who is committed to making the miracle happen. So be the miracle!

About the Author
Roxanne Emmerich is renowned for her ability to transform "ho-hum" workplaces into massive results-oriented "bring-it-on" environments. To discover how you can create a motivate employees to execute plans without fail check out her new book – Thank God It's Monday. Now, you can get a free sneak preview at: http://www.thankgoditsmonday.com/preview_the_book/

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What do computer giant Dell, gourmet food basket maker Tastefully Simple, and organic brewer Honest Tea have in common? Though all three are now multi-million dollar companies, all were originally started within the founder’s home. You’ve probably heard how Michael Dell worked out of his garage to build his empire, but equally inspiring are the stories of Jill Blashack Strahan- who assembled gift baskets on the pool table of her backyard shed- and Seth Goldman- who brewed tea at his kitchen sink and presented homemade samples to clients in thermoses.

The home-based startup story has a certain magic to it that often glosses over the particulars: where to set up office equipment (computer, printer, copier,etc.), whether or not you should dedicate a business phone line or switch your VoIP service to include “follow” features so you’re always available, and how many hours you should put in when your office is in your kitchen. What does a stay-at-home entrepreneur really need? Here are a few necessities:

1. A Separate, Dedicated Workspace. Whether it’s your garage, a toolshed in the backyard, or just an area off the den, you will need a space that’s just for work.

2. A Separate Phone Line. Small business VoIP service plans are cheap and easy to sign up for. You can also add an extension or line to your existing residential VoIP service arrangement.

3. A Fast Internet Connection. For businesses based online, this is non-negotiable. Your internet connection should be fast enough to support online activity and VoIP calls, if you use an internet-based phone system as your method of business communication.

4. A Door…or Earplugs. If you can’t physically separate your workspace from the rest of the house, you can mentally separate it by using earplugs to tune out audio distractions, or a folding screen to tune out visual ones.

5. A “Do Not Disturb” sign. If you’re working while others are at home, make sure they know when you’re “unavailable.”

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The first time I heard the saying "How you do one thing is how you do everything" I didn't get it. (Actually I think my exact response was: "Yeah, yeah, yeah.")

However, as I continued to work on myself and my business over the years, this statement has finally sunk in. And now I see how it relates to pretty much everything in my life. (After all, the state of your business is just a representative of what's going on in your head at any given moment.)

So, what does any of this have to do with social networking? Well, it occurred to me as I look around at what people are and aren't doing with their social networking that this is a microcosm of your entire business.

Let me explain. How do you approach your social networking?

* Are you someone who set up a bunch of social networking accounts months ago and haven't touched it since? Where else has this shown up in your business? Are you someone who has a bunch of half-finished information products or books sitting on your desk? Or maybe you finished them but you haven't put up the sales letter or did any other marketing so you're not actually making any money off of them.

Needless to say, with this habit, you've simply wasted a bunch of time without anything to show for it. You're not making any money with your social networking nor are you making any money selling products.

* Are you someone who does your social networking in bursts? You ignore it for weeks, then for a couple of days you're on it in a frenzy, only to go back to ignoring it. (Or you only jump on and do anything on it when you're feeling stressed about cash flow and lack of clients.)

So where else does this show up in your business? Are you someone who sends out an email newsletter once in a blue moon? Or you only pick up the phone to follow up when you're desperate for new clients?

With this habit, while it's good you're doing something, you're only going to see consistent results when you're consistently doing your marketing tasks. Communicating with people once in a while and/or only when you're looking for something (i.e. for them to give you money) is an excellent way to have a feast-or-famine business model.

* Are you someone who is pretty good on one social networking platform but doesn't do anything on any other one? For instance, you love Facebook but your Twitter account sits there unloved and you pretty much never update your blog, never mind anything else.

So where else does this show up in your business? Are you someone who's really good at going to live networking events and collecting business cards but doesn't follow up? Or maybe you send out an email newsletter fairly regularly but you don't do anything else with the articles you write for your newsletter (although you keep meaning to). And you don’t use any other methods to touch your prospects (i.e. direct mail or teleclasses.) You're getting part of it right but if you followed an entire system you would see far more results. (And, in many cases, it's not about YOU doing more but simply having a system and a team in place to support you so you get the biggest bang for your marketing time.)

Now, this isn't about making you feel bad about what you are or aren’t doing. This is about looking at one piece of your business and using what you see there to make your whole business more successful.

About the Author
Michele PW (Michele Pariza Wacek) is your Ka-Ching! marketing strategist and owns Creative Concepts and Copywriting LLC, a copywriting and marketing agency. She helps entrepreneurs become more successful at attracting more clients, selling more products and services and boosting their business. To find out how she can help you take your business to the next level, visit her site at http://www.MichelePW.com.

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Have you ever had done something you thought was a really good idea at the time and then it completely backfires on you?

Well, it happened to my good friend Nancy Marmolejo, Viva Visibility.

If you don't know Nancy yet, you really need to. She is a social media rock star. However, sometimes even rock stars have days where the guitar is out of tune and the speakers catch fire and explode on stage.

Here's the story in a nutshell. As you all know, social networking is pretty darn new and Twitter is the brand spanking new kid on that shiny new block. Because it's so new, things like vocabulary and etiquette are still being hashed out.

It's better coming from Nancy herself why she got so fixated on this, but she was busy telling people you "tweet" not "twitter" (including yours truly). She also decided to write a letter to Inc Magazine about this.

The result? Inc Magazine called her on it and, well, won.

Now I'm telling you about this for 2 reasons.

1. I'm quite excited I can now use "twitter" as a verb (I just hated saying "tweet" -- I felt like I should put a chicken coop in my yard.)

2. Nancy handled the whole situation brilliantly. In fact, I would go as far to say this was actually a really good thing in the end.

So what did Nancy do? Well, to start she owned up to it. She didn't try to hide her mistake or pretend it never happened (which is simply not possible to do in this day and age anyway.) She 'fessed up.

Lesson #1 -- if you make a mistake, and it's a public mistake, just suck it up and admit it. It's when you start lying and hiding that things get so out of control. Look at Bill and Monica. People lied, tried to hide things, and that just made everything worse.

By owning up to it, Nancy completely diffused any negative publicity around it. In fact, if you read the comments, most people didn't think this was a big deal at all. (Which it isn't -- until you start hiding and lying about it. Then suddenly everyone wonders why you're lying and hiding and it can blow up into a bigger deal.)

The second thing she did was write a very charming and witty blog post about it. Now, you might not be able to write a charming and witty blog post, but it might be worth it to find someone who can for you. She was entertaining about it, which again helped diffuse the situation and caused all her followers to rally around her.

Now, humor isn't good for all situations. Remember the Tylenol and Cyanide scare? If the Tylenol CEO had come out with humor that would have been completely inappropriate. However, what he did do was immediately take responsibility, come up with a solution, and didn't come across as defensive or trying to shift the blame.

Lesson #2 -- if you're going to take a stand, do it graciously. Don't be defensive, don't try and shift blame, and for heaven's sake don't be a baby about it. Do it with class and people will respect and admire you for it.

The result? Nancy's post got TONS of comments, pretty much all of them supporting Nancy. She's back on stage, bigger than ever, with her guitar all tuned up and brand spanking new speakers.

Michele PW (Michele Pariza Wacek) is your Ka-Ching! marketing strategist and owns Creative Concepts and Copywriting LLC, a copywriting and marketing agency. She helps entrepreneurs become more successful at attracting more clients, selling more products and services and boosting their business. To find out how she can help you take your business to the next level, visit her site at http://www.MichelePW.com.

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When people realize I walk marathons, one of the questions I frequently get asked is "how did you do it? How did you finish the marathon once you hit the point of 'nothing helps?'"

Well, I can tell you it's not easy. Lots of demons come out to play and you have to push past them.

But I'm getting ahead of myself. Why would knowing how to finish a marathon have to do with your business? Because you might be having the same problems in your business -- demons coming out to play and you throwing in the towel too soon and not seeing the success you deserve.

Let me explain. It's been documented that lots of business owners quit too soon. They either quit the business altogether or they lower their goals (i.e. "I don't need to make 7-figures, I'll be happy in the low 6-figures") or they drop a product or service that's not selling.

However, many times the turning point in their business is just up ahead. They're right there, the finish line is a half mile away, but they stop. They stop and they use all sorts of excuses as to why it was a smart decision to stop.

This happens to me all the time after I get past mile 20 in the marathon. It gets even worse once I hit the point of "nothing helps" -- the pain is awful, I'm exhausted (a deep, deep exhaustion, so deep it makes it difficult to fall asleep for several hours after you're done) and I'm extremely grumpy.

All the demons come out. "I've done this before. Why do I have to make myself miserable now?" (The first year it was "I can try this again next year when I'm in better shape and know what to expect.") "Boy that pain in my knee feels bad -- maybe I'm permanently hurting myself. I should stop." "Look at all those other people in the medical aid tent, they've stopped I can stop too." "Why the heck (or something stronger) am I doing this to myself again?"

And on and on.

So along with walking on despite the physical pain, you're also battling mental demons. And this becomes an even bigger issue the longer you walk because at the end it's all mental. There's nothing physically left -- the only reason why you're staying on your feet is because you're forcing yourself too.

Does any of this sound familiar in your business? "Why should I bother marketing and/or selling? People aren't buying anyway. And the economy is bad. And my industry is struggling." "I haven't sent out a newsletter in months, I'm just too busy." "I know I have a stack of business cards on my desk I should follow up with, but I'm just so busy. And besides, do they really want to hear from me anyway? It's probably too late." "This product launch was a disaster. Only 2 people bought. I guess no one is interested in this after all." (Never mind you only sent out a couple of emails and called that a launch not to mention never sending out a newsletter.) "I'm almost done with my first product. I just have a couple more things to add/change." (And you've been saying THAT for 3 years.)

And the most insidious of them all "I've been doing everything so-and-so said for months and it's still not working. Maybe I'm not cut out to run a business. I should just quit and find a job before I run up any more debt."

All of these are just variations of the same theme. You're throwing in the towel before you've reached the finish line. And chances are, if you DO quit, success is most likely right around the corner.

Now this isn't to say there is never a time to quit. Sometimes you really do injure yourself and you can't finish the marathon. And sometimes a product or a service you've launched really isn't a good fit for your target market and should be dropped. And sometimes things have so radically changed in your market you need to change something or you're going out of business.

But, a lot of times the reason why things aren't working is because you aren't marketing enough (or marketing smartly). Maybe that product really isn't a good fit. But if you only send out 2 emails to your email list that only hears from you once in a blue moon and call that your launch, you don't know enough to say it's not a good fit. You haven't given it a fair shot.

What can you do to push through? Even when you feel like you're doing everything you're supposed to and nothing is working? Just do what I do after mile 23. Put your head down and keep walking. Don't listen to the chatter in your head, just keep walking. Focus on the cheerleaders on the sidelines telling you you're almost there and keep walking. The finish line really is just around the corner, and eventually you'll get to it, but only if you keep walking. The moment you stop, you're done.

Michele PW (Michele Pariza Wacek) is your Ka-Ching! marketing strategist and owns Creative Concepts and Copywriting LLC, a copywriting and marketing agency. She helps entrepreneurs become more successful at attracting more clients, selling more products and services and boosting their business. To find out how she can help you take your business to the next level, visit her site at http://www.MichelePW.com.

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It's never a good thing when you rely on one stream of income. That stream dries up and you're, ahem, up that creek without a paddle.

That's why having multiple streams of income is so valuable. One stream dries up, you've got a few other ones to depend on.

(On another note, have you noticed how money is often referred to in water terms? Cash FLOW, multiple STREAMS of income or just income STREAMS. Just something to think about.)

But talking about getting multiple income streams and actually implementing them in your business are two entirely different things. That's why today I'm going to share 3 quick and easy ways you can start adding more streams right now.

1. Information products. Creating a product based on your expertise is a fabulous way to start diversifying your income. This is especially good if you're a service provider -- now you're providing other ways for your customers to work with you rather than them paying you to work with them one on one.

But information products doesn't mean you have to sit down and write a book. You can do a teleclass or a series of teleclasses. Or maybe you do a video. Just make it easy for you to create. (The idea here is NOT to spend months or, worse, years crafting your product -- the faster you get it done the faster you'll make money on it.)

Still feeling stuck? Try this. What's the biggest problem your customers come to you to solve for them? Can you do a teleclass or write a special report walking them through how to solve it themselves? Granted working with you would probably get the faster, better results, but remember not everyone has the money nor even the inclination (there are a lot of do-it-yourselfers out there, and you don't want to exclude them.)

2. Licensing or certification programs. Do you have a special process you take your clients through? Why not package it up and sell it to other consultants like you? Lots of people are looking for proven methods and systems they can add to their business income streams. So in essence helping other people add income streams to their business while you're also adding income streams to your business.

Now this one may not be all that quick to do, but I wanted to include it so you weren't just thinking "info products" as your only option. Open yourself up to other options to making more income.

3. Offer advertising or sell other people's products. With this one, you're capitalizing on an asset you've built -- your list. You have people who follow you, right? They're on your list, they're following you on social networking sites, they listen to your podcasts and/or teleclasses. Well, with this one you make money either by promoting someone else's products and getting a commission, or you charge for advertising.

For advertising, think bigger then just selling spaces in your newsletter or web site or blog. What about offering sponsorships? Sponsorships aren't just for corporate -- they can also be your colleagues who want to reach your target market.

Of all the options, this one is definitely the fastest to pull together and takes the least amount of time for you to manage. However, if you don't think it through, it does have the potential of diluting the impact you have with your list. If you're interested in this option, do your homework. Find one or two people who have successfully offered this and ask them about it.

Michele PW (Michele Pariza Wacek) is your Ka-Ching! marketing strategist and owns Creative Concepts and Copywriting LLC, a copywriting and marketing agency. She helps entrepreneurs become more successful at attracting more clients, selling more products and services and boosting their business. To find out how she can help you take your business to the next level, visit her site at http://www.MichelePW.com.

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Article Contributed by Lori Olson

Business goals need to be defined. Startup business plans always need to include what the expected destination will be. Image that you are going on vacation and have no idea where you are going as you get in your car. How do you pack for such a trip? You might end up in Florida with a suitcase full of ski clothing. As obvious as this may seem, many online businesses start out pretty clueless about this.

Step 1 - Pick an online business monetization model.

The four ways to make money online are:

- Ecommerce model - this applies to any business that has a product or service to sell online.

- Lead generation model - this is the cost per action (CPA) approach where information is sold to other businesses

- Advertising model - this applies to sites that are rich with content and attract lots of information seekers and repeat visitors. The site makes money through pay per click and affiliate products. It relies heavily on high traffic and repeat visitors.

- Support - this applies to businesses that specialize in solving customer problems

Once your business model has been defined ("your travel destination") you can figure out the steps needed to get you there. In some cases, there will be overlap of models but one will prevail as dominant.

Step 2 - Identify the steps you need to accomplish your goals.

Here are the minimum requirements for online success:

- Keyword research - This is a crucial first step that is most often skipped or done in a shoddy manner. It accounts for the majority of startup business online failure. It is so critical to be done right, yet most startups fail to take the time to fully research it. They make the mistake of brainstorming keywords that "sound" right. If they do any keyword research they usually stop after identifying keywords that are highly searched. They don't continue the investigation by finding out how much competition exists for those keywords. They don't determine whether the people searching on those terms are information seekers (and will never buy anything) or actual buyers. Keyword research needs all three of these components. If one of these is missing, it is extremely likely that the website will not succeed.

- An SEO friendly website - Failure to develop a search engine optimized (SEO) website is another typical and huge mistake that startup businesses make online. Unfortunately, the main focus is on a website’s looks (whether that be "pretty", "trendy", or professional). Many startups make the mistake of using web designers who know little or anything at all about SEO. They are graphic designers who will make a site look terrific but will be a coding nightmare for search engine spiders. They often include excessive amounts of flash (spiders are just starting to be able to make some sense of it) and dynamic scripts (e.g. spiders cannot read JavaScript). The focus should not be on creating the most beautiful website but rather on the most functional one that has high visitor usability.

- Great content - Sites need to provide the content that is highly relevant to the expected audience and that is also of great quality. It must contain the right keyword weight, frequency and proximity. The content needs to be chunked in a way that makes it easy for visitors to find and consumed. It needs to have correct spelling and grammar.

- An obvious call to action that is easy to execute. Anything that is frustrating to your visitor is likely to send them away (even if they are in the midst of your shopping cart).

- Web analytics - Business owners need to follow the Japanese concept of kaizen. This is looking for ways to make continuous improvement. Web analytics is essential for all web businesses. It can tell you about the way visitors enter and exit your site, how long they stay, what pages lead them on and which ones cause them to leave and so forth. Web analytics will tell you where your site needs to make improvement otherwise you will be completely clueless as to why the traffic your site gets does not convert.

- Marketing strategies - This includes developing organic search engine traffic (developing back links etc.), PPC and Social Media strategies.

- Business processing software - Systems that automate your business will cut down costs, prevent follow up failure and make your business manageable. This is important even no matter what size business you have. If you are a solo entrepreneur, it can be the difference between having free time or not.

Step 3 - Evaluation of your resources:

The first thing to realize is that there a lot of technical steps that need to be done. Startup businesses need to determine what in house skill sets exist and what needs to be outsourced. Solo entrepreneurs and small business owners typically have the "must do it yourself" attitude. This can be a formula for online businesses that are unprofessional looking, never get found online, and never get passed the formulation/beginning stage of development. It is not necessary to learn HTML, JavaScript and PHP. It is not necessary to become and SEO or analytics wizard. It is however, essential to know that you need these things. This is why so very many of online businesses fail. They are missing so many crucial elements because of not knowing or by doing things in an incomplete, haphazard and non-professional manner.

Evaluation of resources includes determining what can and should be done by whom. It includes deciding on how to allocate funds so that your business will grow. The reality is that most individuals to not have all the skill sets that are needed to do the required tasks of a successful online business. Getting the help of experts is the most cost effective route. Fortunately, getting expert help for an online business is highly affordable; especially compared to the costs of starting an offline business. Many so-it-yourselfers turn to "magic bullet" solutions. Startup businesses need to evaluate the benefits of the many do it yourself type of products that are available from internet gurus. While many of these products do have value, the cost in terms of time to learn how to effectively use them (and the energy involved) must be considered. How many products will be needed for the do-it-yourself approach? Will the product do what it says? The reality is that the cost of hiring professionals is often the same or less than attending workshops and buying products. After the workshop is over, small business owners still need to attend to execution of the details whereas hiring a professional accomplished this.

There is no doubt that startup businesses who follow this three step blueprint will distinguish themselves from the vast majority of new online businesses that fail.

About the Author
Lori Olson has a passion for helping small businesses develop strong online presences with a team of 250 professionals who analyze & implement SEO, SEM, PPC Campaign Mgmt, Social Media, Copy Writing & Web Development strategies which are customized to fit any needs, wants & budget. Update Small Business also provides leading edge employee & sales assessment & training; & CRM solutions. http://updatesmallbusiness.com or call 877.265.6568.

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Here’s a tough question: What’s the one thing nearly all business owners consistently overpay for?

The answer is pretty surprising: Postage costs. Stamps, shipping charges, even the time it takes to go to the post office can all add up, costing thousands of dollars or more each year, depending on the volume of mail you ship. Most business owners don’t know exactly how much it costs to mail a particular parcel- so they end up “over stamping” and overpaying- often by quite a bit. Postal stores and shipping providers have overhead costs to meet, too- you pay for these when you’re charged to ship an item.

You can avoid overpayment- and create big savings- by using a postage meter. A postage machine, or digital mailing system, can calculate postage costs precisely, so you’ll never overpay, and can be used in-office, saving you trips to have packages shipped from other providers. Here’s a quick guide to using a postage meter:

How meters work
Postage meters are leased, and work similarly to a parking meter. You “fill up” by making a payment, and postage charges are drawn against your balance. Most meters allow you to “refill” when necessary, and some calculate monthly charges and send a bill- similar to paying for electricity costs. In addition to paying the postage charges, you’ll also need to lease the equipment. You can choose machines with advance features (scales, document feeders) or a simple stamp machine that just prints postage stamps on your outgoing mail.

Features
Mailing machine equipment can be very simple (a stamp machine) or very complex- some machines fold, collate, stamp, and stack bulk mailings containing several different printed pages. If your business sends large bulk mailings, you could benefit from such a machine. Machines can also be fitted with equipment to ship packages- you’ll weigh the parcel and arrange for the pickup online in a few simple steps. No matter which features you need, you can take advantage of cost savings- with a postage meter, shipping costs can be calculated down to the penny for each mailing, so you’ll never overpay.

Costs and billing
Equipment leasing costs can range from less than $20 a month to hundreds for sophisticated equipment designed to handle large volume mailings. You’ll pay for the postage machine equipment (the meter) as one bill, and pay postal charges according to current rates. Some meters only allow you to “pre-pay” postage charges, while other companies allow you to “pay as you go,” where you receive a bill for both postage and meter use costs at the end of a specified period of time. Pay-as-you-go options usually carry additional charges or fees.
You’ll generally sign a lease contract that specifies your terms of use for the meter. Longer term lease contracts can be significantly less expensive- if you’re willing to commit to a longer period of time using the equipment, you’ll get a better monthly rate. You can also choose to purchase a maintenance or service contract that covers repairs or part replacements over the life of the machine.

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Article Contributed by Donna Abernathy

Howard Brodsky set out to conquer the carpet world. Dan Bleier just wanted to save his family-owned business. But both cherished their independent status in a retail chain, “big box” business world. Now, each realizes success through a purchasing cooperative.

The pair spent almost eight months reviewing different business models, disqualifying one after another. Then they looked at cooperatives. Brodsky and Bleier are founders of two of the estimated 300 purchasing cooperatives in the United States—a sector which serves roughly 50,000 independent business owner-members.

“The co-op was the ultimate choice to bring (buying) scale to local ownership while honoring their differences and valuing their independence. It also allowed us to leverage our efforts to serve their best interests,” says Brodsky, chairman and co-CEO of CCA Global Partners. “By comparison, other business structures didn’t endure.”

Entrepreneurs across the American business landscape—from furniture dealers to funeral service providers—are using co-op power to level the playing field between family-owned enterprises and mega-retailers.

Purchasing co-op owner-members are joining together to increase the competitiveness of their independently owned businesses. By pooling their buying power to acquire inventory and services, they lower operating costs, better respond to competition, and improve their businesses’ overall performance.

Conquering the world

By virtually every business standard, CCA has more than endured. It has exploded. Starting with 13 members, the cooperative has grown to 650 owners who operate 3,600 independent stores around the world. The company reported sales exceeding $10 billion last year and has never experienced an unprofitable quarter in its 24 years of existence.

Sales have jumped 325 percent in the past eight years.

“If you give a smart entrepreneur the best tools, he can outplay the big guys. He needs to buy better, brand better, have the best training, best hiring and best marketing,” he adds. Today’s CCA members engage in the flooring, mortgage banking, lighting and bicycling industries. Considered together, CCA’s flooring affiliates represent the largest group of retailers in the world.

Competing effectively

Reading about the success of co-ops like CCA inspired Bleier, who needed to find a way for his family-owned Able Distributors to effectively compete with “the big boys like Home Depot.” He reversed the negative trend by becoming a founding member of Blue Hawk Cooperative in 2005, a Phoenix, Ariz.-based co-op with 200 members—mostly family-owned companies—that own 871 distribution locations in 50 states.

Like typical purchasing co-ops, Blue Hawk offers its members centralized, cost-saving buying plus warehousing, marketing, merchandising and financial reporting—services that give members like Bleier the ability to compete in the marketplace. But competing is not enough, says Lance Rantala, the co-op’s chief executive officer.

“Our plan is to have each Blue Hawk member-owner grow their combined market share by 10 percent,” he says, explaining how partnerships with manufacturers and contractors help build a healthy and profitable business environment for all participants.

Blue Hawk members like the control they enjoy as owners. The co-op business model provides a welcome contrast to buying groups—a common inventory procurement option for independent HVACR distributors—which the members neither own nor govern.

Furniture First’s membership is by invitation only. Prospective members of the Harrisburg, Pa. headquartered co-op undergo an intense evaluation process, complete a 16-page application that includes a detailed credit history. Hartman believes the rigorous process is necessary to determine which retailers will make the best members.

Beyond Buying

Though collective buying of goods and services is at the core of every

Purchasing cooperative, today’s member-owners want— and need—more to succeed. Their co-ops are obliging by offering industry-specific support to enhance almost every facet of business management.

From the beginning, CCA has provided its member-owners with “a better level” of services, marketing, training and merchandising. The co-op offers an extensive selection of online training courses for the employees of member stores. To date, employees have completed almost 300,000 courses.

Blue Hawk members benefit from “extras” such as improved marketing channels, public relations, lobbying efforts, educational and training programs, networking opportunities, sharing business best practices and technology support.

Across the purchasing co-op universe, many consider peer-to-peer networking a bonus of membership. Most co-ops hold membership conferences annually, giving members opportunities for face-to-face discussions, and provide online networking tools to help members share ideas and information.

Surviving Tough Times

Small business is risky business these days. A distressed national economy is not favorable for smaller enterprises, which account for about 99 percent of the country’s business. “It’s the worst I’ve ever seen it,” Furniture First’s Hartman says about the rising costs and shrinking profits for independent businesses.

Though they can’t deliver miracles, purchasing cooperatives can provide relief to beleaguered small businesses—sometimes in unexpected ways. For instance, a new movement that brings together retailers by common location rather than business sector is gaining steam.

Knowing firsthand the power of purchasing cooperatives, CCA’s Brodsky believes these independent business owners are learning one of the most important realities of co-op life: There is strength in numbers. “In troubled times, you don’t want to be alone. That’s the worst,” he says. “Join a co-op because it gives you all the support and tools to compete.”

Sidebar: How to Start a Purchasing Coop

Whether they sell homebuilding supplies or hamburgers, savvy independent business owners are finding that working cooperatively is the key to surviving and thriving. Rosemary Mahoney, chief executive officer and cooperative developer for Lovingston, Va.-based MainStreet Cooperative Group, offers these start-up tips to entrepreneurs interested in cooperative development:

1. Find friends. Every cooperative begins with a group of like-minded people. Determine if the perceived threat or opportunity you have identified is shared by other independents. Work to form a core of organizers who are respected by other independent business owners as well as vendors. Not getting the right members at the start is a mistake that can lead to failure.

2. Explore the options. Before making plans to organize your own purchasing cooperative, determine whether any other cooperatives are already serving your sector. If so, can you join that cooperative?

3. Crunch the numbers. Estimate the total amount of your sector’s business volume that is handled by independents. Is this amount of volume significant to your suppliers? Do your suppliers need independent businesses in the sector? The ability to convince vendors to support a start-up cooperative is essential to its success. You must be able to prove that your co-op can deliver a significant amount of volume and bring value to the vendor.

4. Do your homework. Find one or two cooperatives in similar industries and talk with their management and some members to learn more about how cooperatives work. You’ll be surprised at how many cooperators are willing to talk to those seeking more information.

5. Lay a strong foundation. If you decide to go forward in establishing a purchasing cooperative, be sure to work with an attorney who understands this business model. Also, raise enough capital to hire a chief executive officer who is both an industry expert and well respected by vendors and potential members. Trying to self-manage a co-op is a mistake. Most entrepreneurs are too busy running their own business to successfully and simultaneously manage the day-to-day operations of a co-op.

About the Author
Donna Abernathy writes for the National Cooperative Business Association (NCBA) . NCBA is the only cross-sector member that helps develop, advance and promote cooperative businesses across the United States. NCBA helps develop new cooperatives through partnerships with CooperationWorks!—a network of rural co-op development centers—and the Urban Cooperative Development Initiative. For more information, contact Jim Jenkins, director of Communications at 202-383-5447 or jjenkins@ncba.coop .

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Article Contributed by Joshua Sim of Singapore Start-up Forum

If you talk to people in Singapore, and ask them about entrepreneurship, you get varied responses.

“Hm, the government is encouraging more people to start business. They are giving more grants and making the registration process easier I heard.”

“Good thing young people like you are starting businesses and reading books to help you. Even if you fail, you still can get back up and do it again.”

“Entrepreneurship is not for everyone. I’m too old for it anyway.”

Most Singaporeans will know what entrepreneurship is, however, few practise it. Apart from small food stall owners, most Singaporeans have a “regular” job. The number of entrepreneurs is estimated to be less than 2% of the whole population.

The good news is that this figure is growing. Thanks to the government’s encouragement, grants, and companies that help teach and promote entrepreneurship.

To these budding entrepreneurs however, a question lingers in their minds. “Where can I find business partners or even a mentor to aid me?”

It is at this point in choosing team members that budding entrepreneurs make an error. They ask their casual friends to be their business partners. The problem with this practice is that some of these friends are not very keen on being business people, and may not have the same goals and dreams as the team leader. These friends may not have the proper skills or business mindset, calling it quits after the first failure. These differences make team synergy impossible, and instead lead to arguments and break-up of the company and team.

Only like-minded people, those with the business mindset, skills, desire to earn, desire to add value to others, or at the very least the interest in creating a business, can and should band together to start an enterprise. Be they good friend or mere acquaintance, only with this interest in business will they make good business partners.

Finding business partners alone is only one problem budding entrepreneurs’ face. Even more challenging is to find business mentors, who are even rarer. Criteria for being a mentor, means having the winning mindset, the business sense, plus having “been there, done that”. Most mentors, who still own and run their own businesses, will not be time free to take care of a ‘disciple’.

As such, there have been cases where the disciple works for free, just to learn the ropes of the business. Much like the jewellery crafters of old. Many budding entrepreneurs may find this practice very unappealing as they may have a full time job to take up most of their time with, let alone start a business. The only few who can work for a mentor for free, are the youth. The students who can still depend on their parents, and work to learn from mentors.

Luckily, some entrepreneurs are trying to help their own kind. Entrepreneurs have build businesses, helping other entrepreneurs get on their feet and move onward. There are entrepreneurship “schools” such as the Entrepreneurs Action Programme by Executive Directions (www.exec-directions.com). Others provide “networking night” or other networking groups that can meet up as often as weekly to monthly.

All this goes to help budding entrepreneurs learn the ropes, and get connected to others to each other.

Here at our own online forum, Singapore Start-up Forum [SSuF], we aim to be the online platform for entrepreneurs to connect, communicate and network. We believe that entrepreneurs should stick together and learn from each other. That way, we all can grow at an even faster pace. This is also called “learning leverage”. Do visit SSuF at www.ssuf.biz and spread the word around. We want all the entrepreneurs and mentors of Singapore to gather at a hub to maximise the benefits of networking and learning from each other.

Hopefully with all these services available, entrepreneurs will have an easier time finding business partners and mentors. If not, entrepreneurs can all hope to find friends who have the same interest in business as them.

Good luck all you entrepreneurs out there, and happy business building!

• 0 Comments

Every time I turn on the news I feel like screaming. I am sick and tired of hearing about how bad the economy is. Unemployment is up and is only going to get worse. Banks are in trouble and going under. Real estate is a mess and there is no end in sight. Major corporations are going bankrupt - heck, even the big three automakers may go under.

I hear about how this is the next great depression. I hear about the collapse of the dollar, the collapse of the western world, and the end of society as we know it.

It Isn't As Bad As It Sounds
The sad part is that it isn't all that bad. Yes the economy stinks, but this is only when compared to the amazing boom we experienced in the last decade. Companies have been able to go after the low hanging fruit-heck, there was more lying on the ground than you could pick up!

Just because the ground isn't littered with business anymore doesn't mean that there isn't business out there. You just have to work for it. And the past decade of easy business means that most companies have not made the connections and built relationships. Now they pay the price.

And at the end of the day, now is the time where entrepreneurs can really shine.
No, I'm not crazy. Think about what a true entrepreneur does.

• He connects with his customer


• identifies his needs and problems


• then creates products and services to fill those needs or problems

In other words, he gets paid to solve problems

Now more than ever companies are in trouble. Your customer desperately needs you. No, he isn't spending indiscriminately. But if you solve his problem and help him survive (or thrive) in this downturn he will be your customer for life. And you solve your "slow business" problem at the same time. Only an entrepreneur can do this, and you finally have an advantage over larger companies.

Simple, but Hard to Do
This is a simple concept that is hard to do. I've written several articles that are aimed at this:

• Recessionproof your sales


• How to Thrive in a Recession


• How to Thrive in a Recession - Ignore the News


• How to Thrive in a Recession - It’s All About the Customer


• How to Thrive in a Recession - Working for Someone Else


Brandt Smith is a sales, marketing, public speaking, and professional development expert. Learn about achieving wealth and life balance through entrepreneurship at Wealth and Wisdom, where he is cofounder and senior editor. Their advice on wealth building, personal development, and life balance can help take you to the next level. You can also read more of his thoughts on his blog.

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What do you need to start a successful business?

It’s a question almost all entrepreneurs have pondered. Do you need a business plan before you start, funding to fall back on, or a detailed strategy for how your company will grow? Nearly half of all small businesses fail within the first year of operation- what’s the difference between those that fail and those that succeed?

I recently had the opportunity to speak with Judi Sheppard Missett, founder of Jazzercise. Missett built Jazzercise from a one-woman operation into an international corporation with over 7500 franchises worldwide. Here’s what I learned from our conversation:

You don’t always need start-up capital. “I didn’t even get a business loan,” she told me- something virtually unheard of in many entrepreneurial circles. This should come as wonderful news for anyone trying to start a business on a lean budget or without the resources they think they need.

Evaluate your costs of doing business, and show smart for the resources you need to get started. For example, you can usually find a great website designer for a few thousand dollars if you shop around and compare quotes. Most of what you really need is accessible without a large nest of start-up money.

Provide what the customer finds valuable… Missett taught a jazz dance class in Chicago that eventually lead to the Jazzercise idea. At first, she instructed with an eye to technique and form –just like she had been taught while training to become a professional performer. When students stopped coming to class, she had that “lightbulb” moment- the students cared more about looking like professional dancers than dancing like them. From then on, Missett taught the kind of class her students wanted- fun, no mirrors, great music, and lots of movement.

Too many business owners come up with an idea and try to find a market. Missett proves that the other way around is usually more successful- listen to what customers want, and figure out a way to give it to them. Do research on customer patterns, find a way to track behavior by hiring an online marketing company or tracking marketing campaigns and sales strategically.

…And be willing to adapt and change to customer needs. Jazzercise has managed to grow in spite of the “fad” element most fitness trends seem to capitalize on, precisely because customers still get what they want- Jazzercise programs now incorporate strength moves, contemporary music, and other elements that customers began to want as the program became more popular.

Planning and development aren’t just for startups. If your customer base is growing or changing, you need to grow and change, too. Use email blasts to keep in touch with customers, and build relationships while your business is growing. Keep your offerings exciting and fun, but consistent with the product customers have grown to love.

Listen for opportunity knocking! As the saying goes, you should be ready to answer when opportunities come pounding on your door. When Missett began teaching in San Diego, many of her students were military spouses who moved to far away cities and wanted to continue the program.. Missett’s husband was familiar VHS video, then just a developing technology, so she videotaped routines for faraway teachers. This effort lead to the formation of what is now JM DigitalWorks, a video production company that is a division of Jazzercise.

Don’t wait to be in the right place at the right time- evaluate the resources you already have, and try to create opportunities for yourself . As Judi Sheppard Missett says, “We are all in the right place at the right time, we just need to be aware of it.”

• 1 Comments

What do you need to start a successful business?

It’s a question almost all entrepreneurs have pondered. Do you need a business plan before you start, funding to fall back on, or a detailed strategy for how your company will grow? Nearly half of all small businesses fail within the first year of operation- what’s the difference between those that fail and those that succeed?

I recently had the opportunity to speak with Judi Sheppard Missett, founder of Jazzercise. Missett built Jazzercise from a one-woman operation into an international corporation with over 7500 franchises worldwide. Here’s what I learned from our conversation:

You don’t always need start-up capital. “I didn’t even get a business loan,” she told me- something virtually unheard of in many entrepreneurial circles. This should come as wonderful news for anyone trying to start a business on a lean budget or without the resources they think they need.

Evaluate your costs of doing business, and show smart for the resources you need to get started. For example, you can usually find a great website designer for a few thousand dollars if you shop around and compare quotes. Most of what you really need is accessible without a large nest of start-up money.

Provide what the customer finds valuable… Missett taught a jazz dance class in Chicago that eventually lead to the Jazzercise idea. At first, she instructed with an eye to technique and form –just like she had been taught while training to become a professional performer. When students stopped coming to class, she had that “lightbulb” moment- the students cared more about looking like professional dancers than dancing like them. From then on, Missett taught the kind of class her students wanted- fun, no mirrors, great music, and lots of movement.

Too many business owners come up with an idea and try to find a market. Missett proves that the other way around is usually more successful- listen to what customers want, and figure out a way to give it to them. Do research on customer patterns, find a way to track behavior by hiring an online marketing company or tracking marketing campaigns and sales strategically.

…And be willing to adapt and change to customer needs. Jazzercise has managed to grow in spite of the “fad” element most fitness trends seem to capitalize on, precisely because customers still get what they want- Jazzercise programs now incorporate strength moves, contemporary music, and other elements that customers began to want as the program became more popular.

Planning and development aren’t just for startups. If your customer base is growing or changing, you need to grow and change, too. Use email blasts to keep in touch with customers, and build relationships while your business is growing. Keep your offerings exciting and fun, but consistent with the product customers have grown to love.

Listen for opportunity knocking! As the saying goes, you should be ready to answer when opportunities come pounding on your door. When Missett began teaching in San Diego, many of her students were military spouses who moved to far away cities and wanted to continue the program.. Missett’s husband was familiar VHS video, then just a developing technology, so she videotaped routines for faraway teachers. This effort lead to the formation of what is now JM DigitalWorks, a video production company that is a division of Jazzercise.

Don’t wait to be in the right place at the right time- evaluate the resources you already have, and try to create opportunities for yourself . As Judi Sheppard Missett says, “We are all in the right place at the right time, we just need to be aware of it.”

• 1 Comments

One way to gain recognition for your community and build visibility for your business is by earning business awards. Many are self-nominated and fairly easy to apply for. Here’s a quick guide to a few of the best business awards for 2009:

Businesses that have helped jump start our economy by maintaining growth over the past three years are eligible for the Inc. Magazine 500/5000 award. Winners are invited to attend the nationally recognized Inc. 500/5000 conference, and are featured in future magazine and online stories. This award is a great chance to gain visibility for your company and to represent your community- past winners have included social mission companies, tech startups, and beauty product lines- companies in all industries with over $2m in sales for 2008 are encouraged to apply.

For those still working on breaking the $1m mark, the Make Mine a Million $ Business contest, sponsored by Count Me In, is a great way to gain the support you need to meet this benchmark. The contest operates as a “race” to the $1m sales mark, and most participants see sales increase at least 40% over the duration of the competition. The M3 race is open to women owned businesses in one of 15 categories.

Businesses already on the fast track to earn $1m- those with $500,000 or more in sales for 2008, are eligible to enter the Entrepreneur Magazine Small Business Contest. Similar to the 500/5000 conferenceInc. contest, businesses are featured in a future magazine issue or online story. Entrants are also featured on the contest website- a great way to increase visibility for your business even if you aren’t chosen as a winner.

The Ernst and Young Entrepreneur of the Year award is given annually by international accounting and consulting firm Ernst and Young. Award recipients may attend special conferences and are invited into a network of past winners and prestigious entrepreneurs. The award is internationally recognized as a great achievement- check out the website and contest rules for more details.

If you don’t have the time for a lengthy application, or don’t have the sales revenue to qualify for one of the larger contests, consider Business.com’s “What Works for Business” contest. Applicants write a quick essay about a challenge they’ve overcome. Any small business owner that has overhauled their website design implemented a new online marketing strategy knows that the small things can sometimes be the toughest to take on- here’s your chance to let other entrepreneurs learn from your success. Prizes for the top essay are awarded monthly.

Finally, Ideablob.com allows you to test out business ideas for the chance to win a $10,000 award. Award money goes toward the costs of implementing the idea- if you need to purchase inventory, equipment (such as a credit card terminal) or business software to get your business off the ground, here’s a great place to get started. Awards are given monthly, and are determined by votes from members of the site’s online community.

Whether you’re a brand-new business or a seasoned business owner, there’s a contest out there for you. Most of the above have spring deadlines, so get going- apply for the award you deserve. Good luck!

• 0 Comments

One way to gain recognition for your community and build visibility for your business is by earning business awards. Many are self-nominated and fairly easy to apply for. Here’s a quick guide to a few of the best business awards for 2009:

Businesses that have helped jump start our economy by maintaining growth over the past three years are eligible for the Inc. Magazine 500/5000 award. Winners are invited to attend the nationally recognized Inc. 500/5000 conference, and are featured in future magazine and online stories. This award is a great chance to gain visibility for your company and to represent your community- past winners have included social mission companies, tech startups, and beauty product lines- companies in all industries with over $2m in sales for 2008 are encouraged to apply.

For those still working on breaking the $1m mark, the Make Mine a Million $ Business contest, sponsored by Count Me In, is a great way to gain the support you need to meet this benchmark. The contest operates as a “race” to the $1m sales mark, and most participants see sales increase at least 40% over the duration of the competition. The M3 race is open to women owned businesses in one of 15 categories.

Businesses already on the fast track to earn $1m- those with $500,000 or more in sales for 2008, are eligible to enter the Entrepreneur Magazine Small Business Contest. Similar to the 500/5000 conferenceInc. contest, businesses are featured in a future magazine issue or online story. Entrants are also featured on the contest website- a great way to increase visibility for your business even if you aren’t chosen as a winner.

The Ernst and Young Entrepreneur of the Year award is given annually by international accounting and consulting firm Ernst and Young. Award recipients may attend special conferences and are invited into a network of past winners and prestigious entrepreneurs. The award is internationally recognized as a great achievement- check out the website and contest rules for more details.

If you don’t have the time for a lengthy application, or don’t have the sales revenue to qualify for one of the larger contests, consider Business.com’s “What Works for Business” contest. Applicants write a quick essay about a challenge they’ve overcome. Any small business owner that has overhauled their website design implemented a new online marketing strategy knows that the small things can sometimes be the toughest to take on- here’s your chance to let other entrepreneurs learn from your success. Prizes for the top essay are awarded monthly.

Finally, Ideablob.com allows you to test out business ideas for the chance to win a $10,000 award. Award money goes toward the costs of implementing the idea- if you need to purchase inventory, equipment (such as a credit card terminal) or business software to get your business off the ground, here’s a great place to get started. Awards are given monthly, and are determined by votes from members of the site’s online community.

Whether you’re a brand-new business or a seasoned business owner, there’s a contest out there for you. Most of the above have spring deadlines, so get going- apply for the award you deserve. Good luck!

• 0 Comments

Business Entrepreneur: The Knack- Among the morsels of business wisdom you will find here:

Numbers run a business. - If you don’t know how to read them, you’re flying blind.—Start tracking them by hand as soon as you launch your business.

A sale isn’t a sale until you collect. - A receivable is like a loan. Make sure your customers are credit-worthy.

When your short-term liabilities exceed your short-term assets, you’re bankrupt. - Keep track of how much you’re going to collect and spend in the next twelve months.

Forget about shortcuts. Run a business as if it’s forever. - In the long run, your shortcuts will prove to be detours on the road to achieving your goals.

Cash is hard to get and easy to spend. - Make it before you spend it.

You have no friends in business, only associates. - You can laugh and cry with your employees, but neither you nor they should forget that it’s a business relationship.

Gross margin is the most important number on the income statement. - Don’t make the mistake of focusing on the top line.

Identify your true competitors, and treat them with respect. - Their opinion of you will play a critical role in determining your reputation.

Culture drives a company. - The boss’s most important job is to define and enforce it.

The life plan has to come before the business plan. - You need to figure out where you want to go before deciding how to get there.

The Knack [Business Entrepreneur]

• 0 Comments

Making the decision to sell a business is an extremely important one but many business owners do not realize just how important it is until it is their business. It is absolutely imperative that you take the time to consider your options before making a decision, regardless of whether you built the business from nothing or bought into it and made it your own. There are plenty of factors to consider but if you decide to sell your business, you should do your research before marketing your business for sale.

There are several tips that could help you when selling your business, and ten of them are outlined below. This information is essential so make sure that you adhere to the following points:

1. Plan Your Exit Strategy – Experts agree that you should always plan ahead when you want to sell the business, and begin to prepare at least three years in advance where possible. This allows you to prepare for the handover, both personally and regarding the business for sale. It will allow you to maximize profit and get your paperwork in order.

2. Prepare The Business – If you want to get a higher price when selling your business, you need to make sure that it is well prepared. Any outstanding issues should be solved, new policies and strategies implemented, and fulfilling training will get you up to 10% more on your business than would otherwise be possible.

3. Disregard Your Own Valuation – You are emotionally involved in your business so any price expectations you place on it would be emotionally affected. As such, you are likely to over inflate the price and no buyer will want to know how much you believe your business is worth. The only valuation that matters is that of a valuation specialist or qualified appraiser.

4. Protect Yourself – Have your attorney draw up a confidentiality agreement with no possible loopholes before you make any disclosures pertaining to the business. This will protect your business no matter what and ensure that you are not stung if any sale falls through.

5. Inform Your Shareholders – Shareholders and other individuals with an interest in the business, such as board members, could actually stop any sale of your business going through. Advising them in advance and taking steps to ensure that their influence is ultimately muted is essential. Failing to do so may leave you with your business in your name along with a huge bill for costs incurred by brokers, accountants, and attorneys.

6. Prepare Your Conditions – Many business owners wait until a bid is made on their businesses before preparing their own terms and this can hold up a potential sale. It may even be the cause for a sale falling through. Preparing your written terms and conditions before you put your business on the market will inform buyers before they place a bid. You will then be able to negotiate.

7. Consider Your Retirement – Selling a business may only be the start of your retirement but it could lead to problems in your personal life. You need to consider what you will do following the sale of your business for your own peace of mind and general health. Do not neglect this point. Although it may not sound important now, it will be following the sale.

8. Do Not Give Priority To Price – You should never look at the sale of your business in immediate financial terms. The bids offered may be distinguished as the highest monetary bid and the lower ones, but accepting the former may mean you lose out. Lower bids may have clauses by which you earn a percentage of profits for so many years or even retain shares, As such, the cash amount should be placed behind the content of the bid terms when you consider them.

9. Full Disclosure – No matter what the weaknesses are for your business, you should always make a full disclosure, including warranties, about the state of your business. Be sure to include “to the best of your knowledge” in your contracts, and qualify all disclosure made so you and your buyer know exactly where you stand.

10. Choose The Deal – Approving a deal structure is of paramount importance when selling your business. You need to ensure that you are completely happy with every aspect of the deal. For example, you may want to retain a certain aspect of technology from your business for your future interests so this should be qualified in the terms. You may also wish to keep certain business interests out of the sale. Whatever your decision, you should always act in your own best interests so only offer the deal that you feel comfortable with.

About the Author:

GlobalBX provides a FREE business for sale exchange connecting business buyers, sellers and lenders. Search over 32,000 businesses for sale and franchise opportunities. Sell a business for free with no listing fees and zero commissions. We have all the top franchises as well as franchise resales. Find franchise reviews and get free franchise information. You can also contact over 300 lenders directly and get a business loan.

• 1 Comments

Before you get involved with a franchise and commit to a future within a specific brand or business, there are essential elements of the law that you need to know. That law is determined by the Federal Trade Commission (FTC), which requires franchisors to present all potential franchisees with a specific document offering disclosures at least ten days before a contract is signed or money changes hands. That agreement is known as the Uniform Franchise Offering Circular (UFOC). It is designed to help potential franchisees decide whether an opportunity is the right investment for them and, as such, contains a total of 23 sections.

The Franchisor and its Predecessors and Affiliates – This is the first section and provides specific information about the franchisor. This includes the location, the products / services available, and the experience of personnel working for the company.

Business Experience – This is the second section and it provides you with employment histories for all of the franchise brokers, board members, executives, officers, and management. This is to demonstrate their experience and provides specific information for the previous five years.

Litigation – This is the third section and provides information about any and all litigation that any of the officers, board members, management and executives, as well as the franchisor itself, have previously been involved in. Your attorney should fully investigate any issues arising here.

Bankruptcy – This is the fourth section and is similar to litigation in that it will detail bankruptcy issues instead of litigation proceedings.

Fees – The fifth section informs you of any upfront fees and charges that are applicable to you, including any initial franchising fee that must be paid.

Ongoing Fees – The sixth section details all costs, fees, and payments that are required to be paid following those in section five. This may be royalties, advertising, maintenance, construction, and even staffing costs.

Initial Investment – The seventh section details how much you will need to plough into the business to get it off the ground. These figures are essential for applying for financing and compiling your business plan. Of course, the figures here are typical rather than actual and more of an investment may be required.

Restrictions on Sources of Products and Services – The eighth section is complex on paper but is easy to understand as it details the goods that you are obligated to purchase or lease from the franchisor or its partners. There are often details like the quantities of goods you have to purchase, so you will have an insight into the running of the business.

Franchisee's Obligations – The ninth section details your own personal obligations relating to the business and may or may not include policies, sale figures, training, and the site itself.

Financing – The tenth section will detail an outline of financial plans and arrangements that are available to you as a franchisee.

Franchisor's Obligations – This eleventh section will take some reading as it is easily the longest area of the UFOC. It is also extremely important because it details the franchisor’s obligations to you. It includes various information and all of it is vital to your interests. Pay particular attention to the part outlining the advertising policy.

Territory – The twelfth section of the UFOC details your legal territorial obligations and rights. It outlines whether you have exclusivity or whether you will or may have to share a location with your competition.

Trademarks – The thirteenth section outlines the trademark rights held and whom they actually belong to. It also includes legal details of how the protection works, and thus how and when you will be able to use it.

Patents, Copyrights and Proprietary Information – Further to the above section, the fourteenth section covers ownership of patents and copyrights, and the conditions under which you may use them.

Obligation to Participate in the Actual Operation of The Franchise Business – This may sound complex, but the fifteenth section basically outlines whether you have to be involved in the business personally and the extent of your involvement.

Restrictions on What The Franchisee May Sell – Section sixteen outlines the products you will sell if you invest in the franchise, and gives ideas of further products that you may be able to sell at a later date.

Renewal, Termination, Transfer and Dispute Resolution – Section seventeen is there to protect the franchisor and franchisee because it tells you how and why you may be terminated as well as determining your rights. Should a conflict occur, it would also inform you of how to proceed with a complaint or issue.

Public Figures – The eighteenth section highlights the celebrities or public personas that will be involved in any marketing campaigns, as well as the way in which he or she will receive compensation.

Earnings Claims – The nineteenth section of the UFOC is an important one because it details typical profits, sales, and information about other franchisees. This is not required so it may not be there, but if it is not then do some research to satisfy your suspicions because you need to know these figures.

List of Outlets – Section twenty of the UFOC details statistics about the system that the franchisor employs, including the number of outlets and the location details of at least 100 of them. There will also be information about closures and contract terminations over the past three years.

Financial Statements – Category twenty-one of the UFOC relates to the franchisor’s financial background and the full statements of accounts for the previous three years. It also includes the current balance sheet. All of the above has to be certified by an accountant to maintain their validity. Your own accountant should examine them for you.

Contracts And Agreements – Section twenty-two is exactly what it says it is, so be sure to consult with your attorney to ensure that they are in your best interests.

Acknowledgment of Receipt by Respective Franchisee – The final section is literally an acknowledgement that you received the Uniform Franchise Offering Circular and is of no other consequence.

Although the Federal Trade Commission requires that all of the above be sent to you in the form of a Uniform Franchising Offering Circular (UFOC), they will not have reviewed or approved the information within the document. As such, it is your responsibility to check its accuracy via your attorney and make sure that the franchise business is really in your best interests.

About the Author:

GlobalBX provides a FREE business for sale exchange connecting business buyers, sellers and lenders. Search over 32,000 businesses for sale and franchise opportunities. Sell a business for free with no listing fees and zero commissions. We have all the top franchises as well as franchise resales. Find franchise reviews and get free franchise information. You can also contact over 300 lenders directly and get a business loan.

You have two big decisions to make when deliberating over whether to use a franchise opportunity to set up a business. If you have already determined that a franchise may be the way to go for you then you have to choose the right one, but how can you do that?

First, you have to analyze yourself in depth to ensure that you have the personal skills, wants, and needs. You have to know exactly what you are capable of and the extent of your business aspirations. Brainstorming is a handy tool to use in this situation and it is essential that you do so before investigating current franchise opportunities that are available. Starting with industry analysis is the best route because you can then match your skill set to the industry requirements. As such, you can then narrow down your options to a few select industries before assessing whether those franchise options would work in your local geographic area. Only then can you begin to contact the franchisors and create a business plan.

When contacting franchisors about possible opportunities, always ask them to send you franchise information. If they are to be trusted then this should be available at no cost. When you receive the information, be sure to read it extremely carefully, paying attention to every detail. Do not take anything at face value and research every detail given in depth. After all, this is your future and no stone should be left unturned. You can use trade magazines, Internet profiles, professional journals, and annual reports. You should also contact the Federal Trade Commission (FTC) and local authorities to make sure that there are no issues with the franchisor. You should extensively look into the reputation, financial health, growth, management, and day to day running of the business because it will be passed onto you as a franchisee.

When you have digested all of the above information and you are happy with it, ask for details of existing franchisees. It is essential to speak to them because they can give you an accurate viewpoint of how the franchisor runs the business, what the management is like to deal with, insider secrets, how the business is faring, and so on. Any good franchisor will be more than happy to provide this information whereas others may be reticent. Franchisees provide critical information so again only pursue franchises that are accessible. Only then should you assemble a legal team and accountant to answer any legal and financial questions you may have. They will also be able to find any holes that you have yet to discover, thus protecting your own interests.

About the Author:

GlobalBX provides a FREE business for sale exchange connecting business buyers, sellers and lenders. Search over 32,000 businesses for sale and franchise opportunities. Sell a business for free with no listing fees and zero commissions. We have all the top franchises as well as franchise resales. Find franchise reviews and get free franchise information. You can also contact over 300 lenders directly and get a business loan.

Where other businesses struggle, franchise businesses thrive. Wendy’s and McDonald’s are prime examples of successful franchise businesses, and also provide inspiration for those individuals who really want to form their own successful businesses in the future. With a brand behind you and a good idea of what does and does not sell, it is no wonder that you have chosen to consider a franchise.

There are two types of franchises out there. One is the good franchise that takes care of its franchisees, providing training and support throughout. The second type does nothing but take from the franchisee and pushes for profit. There is a third type of franchise and that is the one that will rip off franchisees, taking them for as much money as possible. The latter two are not worth the time, money and energy, whereas the former is extremely desirable.

As such, it is essential that you do your research and investigate a franchise thoroughly before signing a contract or paying out any money. The list of questions below may help you to find the better ones as the answers they will yield will give you enough information to make an informed decision:

1. Have you and your attorney analyzed the franchise agreement in detail and do you both completely agree with the details?

2. Are there any elements or step required of you that would break the law or be to the detriment of yourself or your country?

3. Do the provisions in the franchise agreement give you exclusive territory for the period of your contract? If not, what is the maximum number of franchises that may open in your area?

4. Is this franchisor connected in any way with any other franchise company handling similar products or services?

5. If you answered yes to the above question, what is your protection against the second franchising company?

6. If you decide to end the franchising contract for any reason, what are the provisions for you to pull out of the contract and how much would you have to pay to break the agreement?

7. Are you able to sell your franchise during or at the end of your contract? If you are legally allowed to do so, what are the repercussions related to compensation?

8. What time period represents the duration of your contract and how long has the franchisor actually been in full operation?

9. Does the company offering you this franchise have a reputation for honesty and fair dealing among its franchisees?

10. Has the franchisor shown you any certified figures indicating exact net profits of one or more of its members, and have you personally checked the figures with these people?

11. Are you able to tap into franchisor assistance with training, PR, advertising, capital, credit or merchandising?

12. Are you offered assistance for finding the best location possible in your chosen area?

13. Does the franchising firm have solid financial input to ensure stability and the establishment of goals?

14. Does the franchisor have experienced management, trained in-depth?

15. Can the franchisor do anything above and beyond what you are capable of yourself?

16. Have investigations into your background been carried out and has the franchisor been assured that you are capable of making a profit?

17. Does the state in which you live in have franchising laws in place, and does the franchisor adhere to them completely?

18. How much equity capital will you need to purchase the franchise and operate it until your income equals your expenses?

It is extremely important to answer these questions fully and to your complete satisfaction. If this is the case then you may be extremely eager to become a franchisee. However, you should research all answers to get them verified in several places to ensure that your investment would be a wise one.

Purchasing a franchise can provide you with stability and profits in a short period of time but that is not to say that it is infallible. Less than 20% of all franchises fail so you need to ensure that you do not become a statistic. Information regarding specific franchising ideas can be found in the franchising directories, which are generally available at the local library. This will give you a little assistance to get started but you need to ensure that you are completely happy before committing.

About the Author:

GlobalBX provides a FREE business for sale exchange connecting business buyers, sellers and lenders. Search over 32,000 businesses for sale and franchise opportunities. Sell a business for free with no listing fees and zero commissions. We have all the top franchises as well as franchise resales. Find franchise reviews and get free franchise information. You can also contact over 300 lenders directly and get a business loan.

Franchising has a longer history than many people may imagine but there have been several defining moments during its history. One of the biggest events occurred on October 21, 1979 when the Federal Trade Commission (FTC) introduced the Franchise Rule. This was designed to protect franchisees because it asserted that all US operational franchisors were legally obliged to fully disclose details that all potential franchisees should know before committing to investment.

As such, it enforced FTC standards to ensure that all disclosures contained uniform information that has been prepared to meet the legal criteria. One of the main requirements of this law ensured that there has to be evidence to support any financial details given. This in turn assures all potential franchisees that there is profit to be made and make them fully aware of any pitfalls.

More specifically, the Franchise Rule requires the following information to be disclosed by all franchisors:

(a) The franchisor must declare its affiliates, directors, officers, management and individuals responsible for all areas of the business, such as training, support, and franchising information.

(b) The franchisor must declare whether it or any of its officers, management, and directors have ever been bankrupt or faced lawsuits in the past, even those from before the individual in question joined the business.

(c) The exact amount you are expected to pay in franchise fees and various other associated charges must be disclosed. This includes all immediate and ongoing payments after the franchise contract is signed and the business has opened.

(d) Any and all restrictions on the quality of goods and services that you, as a franchisee, may use. This includes any purchase restrictions that may be in place.

(e) Any help and support that will be offered by the franchisor and any affiliates including financial support.

(f) All restrictions applicable to the goods and services you will be managing and selling, as well as any restrictions that you have to work with when dealing with customers.

(g) Any advantage or guarantees provided regarding the location and locality of the franchise.

(h) The franchise conditions under which your franchise may be terminated, sold on to another franchisee, repurchased, or modified.

(i) Franchisee training programs that are available and any fees associated with them.

(j) The involvement, if any, of celebrities or known figures in the public eye within the business, whether in advertising or behind the scenes.

(k) Site selection assistance that is offered by the franchisor.

(l) The number of present franchises, franchises projected for the future, franchises terminated or not to be renewed, and the number repurchased in the past.

(m) Full financial statement disclosure.

(n) How far you are expected to participate within the franchise operation after becoming a franchisee.

(o) Full disclosure of proof for earnings and profit claims made regarding other franchisees.

(p) Full names and addresses of franchisees that you can talk to.

All of the above legal considerations of franchising must be fully disclosed during initial contact with the representative of the franchise, whether that is a broker or the franchisor him or herself. As soon as the franchise opportunity is discussed, the legal considerations must be fully disclosed. The disclosure must be at least ten days prior to payment or to any franchise or related contract being signed. This pertains to the contract signing itself and also any financial statements changing hands.

The Federal Trade Commission does not require franchisors to register, but depending on the state your franchise may be in, it may have to register on a local level. The Uniform Franchise Circular Offering (UFOC) guidelines have been adopted by most states as a result of their strict disclosure requirements. However, you should never take it for granted that the franchise is registered or offers full disclosure, thus providing you with protection of any kind. You must research the franchisor fully before committing.

About the Author:

GlobalBX provides a FREE business for sale exchange connecting business buyers, sellers and lenders. Search over 32,000 businesses for sale and franchises for sale. Sell your business for sale for free with no listing fees and zero commissions. We have 1000s of franchises as well as franchise resales. Find franchise reviews and get free franchise information. You can also contact over 300 lenders directly and get a business loan.

Article Contributed by Ray Haiber

Having a tough time finding a job? Unfortunately that’s not surprising news due to the fact that this current recession has already to near double digit unemployment rates in some regions. Many of the hardest hit industries such as financial services and home construction face the prospect of an extended or permanent contraction that will force many workers to seek new careers as positions in those industries become eliminated or harder to replace.

One viable alternative that has always been available to workers who either want to leave the restrictions of the corporate world, or can‘t find a job in their industry because of tough economic times is to “buy a job”. How do you do that? By either finding and purchasing an existing small business, or starting a franchise.

Buy An Existing Business:

Business Brokerage Industry statistics indicate that your odds of success increase dramatically when you buy an established business as compared to launching a start up. This is particularly true in challenging economic times, and if the target business has been established for over 5 years and has a proven track record that can be validated via a thorough due diligence process.

What Type of Business?

Your basic goals should be to find a business that you will enjoy working in and growing, compliments some of your existing skill sets, and will also provide enough net income for you to make a comfortable living. Ideally the business should also generate enough income to allow you to cover any debt service you may have incurred if you financed a portion of the purchase price.

How To Find a Business: What’s the best way to find existing businesses for sale? The most efficient way to begin your search is via the Internet. There are quite a few online “Business For Sale” directories like bizbuysell.com that offer a large searchable database of existing small businesses broken down by categories like states and industries. When you see a business that strikes your interest you can then contact the owner or the Business Broker who represents the listing for more information. In most case you will be required to sign a confidentiality agreement and provide some basic financial qualifications before receiving a detailed business summary.

Another way to find an established business is to employ the services of a professional business broker in your local area. Many Business Brokers have access to listings that might not normally appear on a local MLS system, are kept in house, or have knowledge about new listings coming available soon that may fit your investment parameters. A good Broker can also show and help you indentify potential business matches that you may have not even considered. And in most cases Business Brokers working with buyers are paid on a commission basis with the fee paid by the Seller so you have no out of packet expenses. You can find a Business Broker in your local area by visiting: http://www.findabusinessbroker.com

Buy A Franchise

Another viable option to replace a lost job is to start a franchise business. The biggest advantage of buying a franchise opportunity is that it’s a lot less risky than starting a new business from scratch. Most established franchise concepts are proven business models that have a verifiable track record of success that generally can be easily validated during your investigation of the offering. Franchisers can also provide comprehensive training and support before and after you open your location. And keep in mind that one of the main reasons for the success of franchising as a business model is that Franchisers have a vested economic interest in your success in the form of royalty and other fees.

Find A Franchise

As with existing small businesses, the fastest and most convenient way to begin the process of finding a franchise is with an Internet connection. There are now dozens of franchise directories on line today that offer comprehensive listings of franchises available for sale, including information about investment levels, training, availability, and how to contact the franchise company for more details. These directories are also a good source for free information about the general process of buying a franchise business. You may want to visit A couple different directories such as franchiseopportunites.com, franchiseforsale.com, and azfranchises.com because not all of then will carry the same franchise opportunity listings.

Final Note: Always thoroughly investigate any franchise or business opportunity, obtain all appropriate disclosure documents available, and seek expert consultation prior to making any investment decisions.

About Author:

Ray Haiber has 10 years experience as a professional Arizona Business Broker and franchise sales consultant. View and research franchise opportunities for sale across the USA here.

• 4 Comments

For any individual looking to capitalize on franchising opportunities and owning a franchise business, there are several advantages to consider. Some of those you may be interested in are outlined below:

The Franchise Business Pros
· Having a brand behind you, whether it is locally or nationally famous, will save you a lot of time and money that would be needed to create your own brand or trademark. You will also attract customers immediately rather than having to advertise extensively.
· You will have an established business framework to work within, which dramatically reduces the risk associated with a startup business.
· You will already have tried and tested suppliers and services at your disposal, which will again save you the time and money associated with finding your own.
· You will receive ongoing support for sales and marketing throughout your franchise ownership. Franchisees often choose to tap into the help that is offered to them throughout their tenure via existing marketing and advertising assistance.
· Franchisees often get comprehensive financial assistance because banks are often more willing to lend money to well-known brands and names than business startups that are completely unknown to consumers. Franchisees may also have access to direct financial assistance from the franchisor.
· The risk of investing in a franchise is lower than it is for a regular business startup. An established concept is much more desirable because there is less risk.
· Continued development opportunities and research will be available. Franchisors tend to choose to tap into information concerning competition in the local area, seasonal goods, demand, and local attitudes.
· You will get business support from your franchisor, which will help to find you the best possible site and enable any construction work that needs to be done in addition to employee training and operational assistance.
· All business procedures and methods that you use will already be tried, tested, and proven to work.
· The quality and desirability of the franchisor products have been proven and come at a certain standard level that is well established.
· You will have the buying power of the franchisor and centralized purchasing at your fingertips, so costs may be reduced as a result of bulk buying savings that are handed down to the franchisee.

In addition to the pros of franchise businesses as outlined above, there are also others that you may want to consider. For example, expansion may come more easily with a franchise business and you may enhance your business interests with additional businesses, either within the franchise or outside of it. This is how dreams of riches become realities.

That is not to say that there are not cons and disadvantages associated with franchise businesses. A few of them are outlined below:

The Franchise Business Cons
· You may lose ultimate control of your business as a result of the established franchise standards that you have to run your business in accordance with. You may also find that you cannot implement your own ideas and initiatives.
· The level of royalties could be as much as 10% or more in select cases, which will of course affect your profits.
· You will have to pay an initial fee to buy into the franchise. It could be as little as $4,000 but may extend up to $50,000 so there is significant initial outlay.
· You will have to pay advertising fees to ensure that your business is recognized as existing in your current location. If the franchisor advertises poorly then your fees are wasted.
· You may have to buy a signage pack from your franchisor. Some franchisors insist on you buying their specific signage and so you may find it extremely expensive.
· If the franchisor gets into difficulties then so do you. As you effectively bear their name then you bear the brunt of a problem, including issues with suppliers.

In conclusion, although there are some disadvantages with having a franchise business, the positives far outweigh the negatives. The risks of failure are significantly reduced and so there are fewer problems than a brand new startup business. Of course, you should always ensure that the paperwork is in order, and you should complete your research and due diligence before committing because there are no guaranteed profits, and you would ultimately be responsible should the venture fail.

About the Author:

GlobalBX provides a FREE business for sale exchange connecting business buyers, sellers and lenders. Search over 32,000 businesses for sale and franchises for sale. Sell your business for sale for free with no listing fees and zero commissions. We have 1000s of franchises as well as franchise resales. Find franchise reviews and get free franchise information. You can also contact over 300 lenders directly and get a business loan.

Article Contributed by Avinash Patil

The world needs entrepreneurs more than at any other time in the last century and an online business guru has come up with a way for would-be business owners to test whether they are likely to be a success or failure.

Guy Kingston, a serial entrepreneur who successfully started one of the first private enterprise businesses in post-communist Russia, says the motivation behind starting a business is often the key to success.

Mr Kingston, whose Mind Your Own Business podcast provides free help and advice to business owners said: “Every entrepreneur is driven by their dream of what they want to achieve through business. By asking themselves a few simple questions they can work out what their motivation is and from that you can pretty well work out whether they are likely to be a success or not.

“Many people are really dreamers, who like the idea of running a business but can’t cope with reality. The ones who will succeed are schemers, who will do everything they can to ensure success.”

Mr Kingston, whose website www.myobpod.com features free written, audio and video advice for entrepreneurs with no sponsors attached, sets out the following check-list for would-be entrepreneurs to test out whether they are a dreamer or a schemer.

See which statement applies to your thoughts then see whether this is a dream or a scheme.

“I want to build a business so that I can employ lots of people and be a big boss.”

Guy’s verdict: Dreamer: “if empire building is your main motivation you will probably fail.Costs need to be kept tight in a growing business and the regulatory environment surrounding employing people makes them very expensive. Operate with as few people as possible and the empire will grow.”

“I’m really confident in my idea and my ability to make it work, but there’s more to it than that.”

Guy’s verdict. Schemer: “Positive thinking alone is not enough. Whereas you won’t succeed without it, it is not sufficient alone.”

“Running my own business will mean I will be able to have greater flexibility and time for myself and my family”

Guy’s verdict: Dreamer: “You have more time if you are employed by someone else. Of course you have to get the balance right but don’t see being an entrepreneur as a passport to more spare time.”

“I know I have skills that my employer doesn’t appreciate and I want to sell them direct to people”

Guy’s verdict: Schemer “Often the core of a good business comes from an individual’s talents. Just make sure that it is more than your nearest and dearest who think you are good.”

“I have certain abilities but if my business is really going to take off I’ll need to pick quite a few other people’s brains to bridge the gap.”

Guy’s verdict: Schemer: “The best entrepreneurs beg, steal and borrow ideas from everyone and then adjust them to their own situation. They also recognise early on that they aren’t good at everything.”

“I have inherited some money and I think the best way to use it is to buy a business that I can run.”

Guy’s verdict: dreamer “Buying a business is about a lot more than just having the money. Many successful businesses have disappeared very quickly once under new ownership.”

“My partner / best friend and I get on so well that we would be awesome in business together and we are going to come up with something between us that we can do together”

Guy’s verdict: dreamer “Running a business together puts a great strain on any relationship. Although it works well for many people there has to be more to substantiate going into business together than the fact you are great buddies or soul mates!”

“I want a mentor who’s been round the block a few times.”

Guy’s verdict. Schemer: “Just as you wouldn’t want a brain surgeon who’s never done brain surgery before, you don’t want a business advisor who hasn’t run a business of their own. Experience trumps qualifications and theories any day.”

“Everyone likes the items I produce as part of my hobby so I am going to pack in my job and do it commercially.”

Guy’s verdict. Dreamer: “Hobbies rarely turn into good viable businesses. Before making the leap it is important to check out every aspect of the business model.”

“Business is fairly simple. You just buy things in and then sell them at a cheaper price. That is the basis of my plan for trading”

Guy’s verdict. Dreamer: “This is someone who needs to do a lot more planning on things like stock levels and what the market will stand before venturing into being an entrepreneur.”

• 0 Comments

It's easy to let things slip over the summer - after all the weather's far too nice to be indoors organising your office! However, the reality is when you do settle back into working after a break unless your office is organised you spend more time looking for files, business cards, papers, than you do working.

It's a lot of wasted time! Use my tips below and get your office schedule back on track.

1. Clear out your desk and files

Make way for those exciting new projects that have been put on the backburner over the summer. I recently did this and apart from getting rid of four grocery bags of papers, I felt much more motivated to start those projects that had been lurking for months! And it's amazing what you come across too!

2. Set up a Resource Folder

Keep track of those all-important pieces of information that you come across daily. How? Create a Resource Folder:

:: on your PC -- store all those downloaded documents and create a shortcut on your desktop so that you can easily access your information. Go one step further and create folders within your folder, each relating to a specific topic, i.e. industry news, marketing, accounting -- decide what works best for your business!

:: in your Favourites Folder in your web browser -- bookmark those web pages that you find useful so that you can easily access them again. Create subject specific folders within the main resource folder.

:: using a ring binder file -- print out articles that you come across while surfing or any emails that you may need to refer to again; cut out useful magazine articles; store newsletters, circulars or magazines. In fact use your resource binder to store anything that you will want to keep and refer to again! Use divider cards so that you can easily access resources on a particular topic.

Or use a combination of all three for maximum efficiency!

3. Get back in touch with your clients and contacts

Now's a good time to update your client and contact database. It's easy to let things slip over the summer, so drop them a personal note or email and make sure that the information you currently have for them is up-to-date -- and this will ensure that your information is accurate when you come to send those all-important Christmas greetings!

4. Get your website listed in as many places as possible!

Update your directory listings; get entered on new industry directories; check backlinks -- set up a spreadsheet to keep track of all of this.

5. Get your finances organised

I know, it's summer; you'd rather be outside enjoying the sunshine than inside organising your receipts. Now's the time to drag out all those business receipts and get your bookkeeping system back on track!

Follow these simple tips and you'll soon have your office schedule back on track!

Online Business Manager & Virtual Assistant, Tracey Lawton, supports professional speakers, coaches, and authors to operate an efficient, organized, and profitable business. Learn how to create an efficient and organized office in 7 EASY steps, and receive free how-to articles at http://www.OfficeOrganizationSuccess.com.

• 0 Comments

Article contributed by Karen S Sieczka

It is better to have enough ideas for some of them to be wrong, than to be always right by having no ideas at all. --Edward de Bono

As entrepreneurs, we have all failed at one time or another. An idea doesn’t pan out, a deal falls through, we get rejected by an important client, things don’t turn out as expected. We feel disappointed and sometimes we even feel hurt. Often, we want to throw in the towel. When this happens, we need to remember failure is an important part of the process of building success.

Failures can become turnarounds. Lee Iacocca brought the failing Chrysler company back from the brink of extinction in the 1980’s. Harry Truman failed miserably in many business ventures before becoming president of the United States. If these two had given up when things were tough, their names would be lost to history.

You probably know who James Dyson is. He is the guy who invented the extremely successful and popular bagless vacuum. It took him over 5,000 tries to get his design right but he used each failure to make improvements and move closer to his desired end result. We wouldn’t even recognize his name if he had thrown in the towel after the 10th failure or even the 4,999th failure!

Everyone knows who Colonel Sanders is. He concocted the secret herb and spice recipe that made the most famous fried chicken on the planet. He was rejected over 1,000 times before someone thought his recipe was finger licking good.

Look at the Wright brothers. How many times did they have to regroup before their airplane left the ground? Look at Google founders Larry Page and Sergey Brin. They didn’t wait for the perfect search algorithm. They started the company and then refined the process as they went along.

Thomas Edison was known for the incandescent light bulb and first recording of music on a wax cylinder. He and his colleagues tried thousands of experiments, some miserable failures, some partial failures, some successes, but each attempt, each process brought something to the table, and sparked an idea or brought them closer to a solution for another puzzle.

Read biographies of famous people. Even among the most successful, most have felt the sting of miserable failures at one time or another. How did they react and move toward success? Focus on how they learned from the mistakes and moved onward and upward. How can you apply these lessons to your own life, career, and circumstances? Ponder this: do you accept defeat when something goes wrong or do you regroup and try again? How persistent are you?

You have to accept failures are part of the success experience. Mistakes often become the next great innovation. Vulcanized rubber was a mistake. Microwave oven technology was created by accident. Penicillin was the result of a failed experiment.

To be successful, you must reconcile with the possibility of failure. Being successful involves taking risks, and the possibility of failure, ridicule, disapproval, and disappointment. Be courageous. Everyone makes some mistakes. You may never figure out all the outcomes before you plunge into a project. So what? Do it anyway! If it fails, learn from it and try again!

Karen S. Sieczka is a training consultant and founder of Growing Great Ideas.com. Her latest training program is Growing Great Ideas: Unleashing Creativity at Work. The program generates ideas, enthusiasm, and teamwork and can be customized to address particular organizational issues or challenges. This article was excerpted from the Growing Great Ideas: Unleashing Creativity at Work book, now available at LULU.com for download or print version.

• 2 Comments

I bet just the very title of this article is enough to make you run for cover! Along with paper piles, budget and Cashflow is another area that can drive solo business owners over the edge! In your corporate days you would have had a bookkeeping/accounting department that took care of all of this for you – they paid the invoices, they tracked the receivables, they tracked the income, and they told you the bottom line!

Now that you’re running your own business you are also the Chief Financial Officer, and it can be very overwhelming. However, it needn’t be… let me share with you three simple steps that you can put in place to manage your budget and Cashflow.

What is a Cashflow projection?

One important area of your Financial Management System is that of a Cashflow projection. Put simply, a Cashflow projection shows whether your anticipated income will be able to cover your expected (projected) expenses and this report is very beneficial to you in your business.

It is an annual report and, if set up correctly, will show you how cash will flow through your business throughout the current financial year. I’ve been using a Cashflow report in my business for many years and find it invaluable. Just recently the chance to participate in a high-profile teleclass series came up, and because I have my systems in place, I knew straightaway that it was something I could take part in!

Step 1 – Create Your Cashflow Report

This is very easy to do using a spreadsheet. Create a column that lists all of your expenses, i.e. office supplies, legal & professional fees, membership, advertising etc. and a column for each month of the year. You will need to create formulae that will tell you your total income, total expenses, and subtracts the expenses from the income, and also carries forward any amounts from month-to-month. This is so you can see how your finances are ‘flowing’ throughout the year.

Step 2 – Input Your Data

Taking your financial data from your bookkeeping system input your actual income and expenses, and list any projected expenses in the appropriate row/column. Your Cashflow report will now show you at-a-glance any time periods for which you will need to be especially aware of. For example you may have a lot of expenses in one particular month so you’ll know that the previous month you’ll need to make sure that you have the funds kept back in your bank account to take care of those upcoming expenses.

It will also show you if you can afford to make an investment in your business, whether that’s signing up for a new service or membership club, taking out an advertisement, or buying new equipment.

Your Cashflow projection can also be used as a budget planner. You can plan out when annual memberships are due and put those in ahead of time. You can also add in an amount for when your taxes are due. This will provide you with a really good feel of how cash is flowing through your business, month after month, throughout the year, and you can also tell how much you can take off for owners draw, but still leave enough to cover the anticipated expenses.

Step 3 – Schedule In The Time

Now that you have your Cashflow report in place, it’s important that you update it regularly so that you can stay aware of how cash is flowing through your business, and take any actions necessary so that you have enough to cover all of your anticipated expenses.

I recommend scheduling in at least 30 minutes once a month to update this critical financial management report.

A Final Thought...

Having an annual Cashflow projection will provide you with all of the information you need so that you can keep on top of your business financially and know where you are.

If you have a bookkeeper taking care of all your financial records for you, ask them to prepare your monthly Cashflow report for you.

Online Business Manager & Virtual Assistant, Tracey Lawton, supports professional speakers, coaches, and authors to operate an efficient, organized, and profitable business. Learn how to create an efficient and organized office in 7 EASY steps, and receive free how-to articles at http://www.OfficeOrganizationSuccess.com.

• 1 Comments

This article is contributed by Lesley Mattos of Adesso Albums, Inc

Why would a woman making a six-figure salary in Silicon Valley choose to
leave her high profile position with Cisco to create a product that used no
21st Century technology?

Because almost thirty years of working with Silicon Valley's top technology
companies can take a toll on a gal's ability to stop and see, much less
smell the roses! During a trip to Italy, far away from friends and family
and immersed in a culture that lives in the moment, I realized what I'd lost
sight of.

And that's where the idea for Adesso Albums was born. Six years later,
Adesso Albums is an international company with more than a million dollars
in annual revenue.

So how did I do it?

10 tips for Success in Business – Based on My Personal Experience:

1. Embrace change. It's an inevitable part of running a business. Rather
than fighting it, wasting valuable time and eventually losing, you're better
off anticipating, planning for, and embracing change. As a small business
owner you should be nimble and react quickly in a variety of ways. If you
look at change as an opportunity to grow, you will!

2. Use technology. Do more with less by automating routine processes with
web-based applications. These applications increase productivity and free
you, your staff and your resources to focus on more important tasks. And,
these applications can be accessed from anywhere

3. Keep your eye on the ball. It's easy to get caught up in the day-to-day
minutia of running a business. Constantly ask yourself if your daily
activities get you closer to your overall goals for the company. It will
keep you on track and stop you from spending time on the wrong things.

4. Know your differentiators. Compare your products and services to the
real, as well as the perceived competition. A competing concept can be even
more threatening than an actual product. Unless you have thought about what
differentiates your product or service from everything that's out there,
your marketing efforts will fall short.

5. Lead by example. Peers and subordinates alike will learn from your
example. They “listen” with their eyes more than with their ears. Your
actions mean more than what you say to them. Make sure your processes and
actions both inside and outside the office are things you want emulated.

6. Give the illusion of participation. Everyone likes to feel like they are
part of the decision process, so let them! Then do what you think you ought
to do anyway. It's not necessary, and often actually a hindrance in a small
business environment to employ the decision by a committee process.

7. Control timing. We often miss opportunities because we think we have to
respond immediately to stimuli such as phone calls or emails. Just because
the phone is ringing or an email comes in, it doesn't mean you have to
react. Your day shouldn't be a series of interruptions. The more you
control your distractions, the more effective you'll be.

8. Know what you don't know. It's inconceivable that you could have an in
depth knowledge of every aspect of your business. Acknowledge your weak
areas and surround yourself with competent resources and trusted partners
and learn from them.

9. Stay organized. It is critical to update, edit, add and delete from your
list of to-do's on a daily basis. Nothing feels better than crossing things
off. And, with a well-maintained list for you and your team, everyone will
stay on track and your chances for success are enhanced.

10. Plan for success. Formalize your processes as you go. Plan for and
build infrastructure ahead of your growth. So when your growth spurt comes,
you're ready for it. And don't forget to celebrate your successes along the
way. Stop and pat yourself and your team on the back as milestones are
achieved.

Following these ten tips not only helped me grow Adesso Albums to over a
million dollars in annual revenue last year, it also helped me reach tens of
thousands of people and help them live in the moment. Everyday we get
cards, letters, emails, pictures and even videos from our customers telling
us how Adesso Albums have touched their lives – and in so many ways –
both personally and from a business perspective.

From the couple who just got married and looked at their original instant
photo guest book every day of their honeymoon to the military family who
used an album to chronicle what happened while the dad was on tour for a
year, to our international distributors who each used the albums at their
weddings and have since quit their day jobs to sell Adesso Albums in their
part of the world – its' all very humbling.

With a good idea, a little luck and my ten tips, you are well on your way to
success too!

About the Author:
Lesley Mattos is Owner of Adesso Albums, Inc. and creator of the original
instant photo guest book that combines retro, funky and fun Polaroid instant
photos with hand written sentiments from guests. Now you can create an
instant memento that is presented to honorees at events such as weddings,
birthdays, anniversary or retirement parties as they are leaving! Visit
http://www.adessoalbums.com

• 1 Comments

Article contributed by Michelle Ulrich

1.Social networks – how to work it
a.http://www.craigslist.com
b.http://www.fastpitchnetworking.com
c.http://www.ryze.com
d.Ning.com is a create-your-own social network site

2.Free Classified Ads
a.Backpage
b.Craigslist
c.MySpace – need to be a member with a profile, I believe

3.Teleclasses/Podcasts
a.These can be pre-recorded if you don’t want to interact with others
b.Teleclasses are great for getting the word out about your products/services; guest speakers can promote you to their list and increase your list on a monthly basis
c.Use www.fullcalendar.com to promote teleclasses and events

4.Joint Ventures – co-creation of…
a.New products
b.New teleclasses
c.New workshops
d.New podcasts
e.New ebooks
f.Limitless ideas…

5.Strategic Alliances
a.Promote one another via banner ad exchanges
b.Promote one another via ezine or newsletter mentions

6.Article submissions
a.Write an article – submit online
b.Repurpose into an ezine article or ezine series if article is long
c.Repurpose into a podcast
d.Repurpose into an ebook with additional resources
e.Repurpose into a speech/presentation for live events

7.Ezine submissions
a.Write an ezine – submit online to ezine banks
b.Repurpose into an article
c.Repurpose into a podcast
d.Repurpose into an ebook with additional resources
e.Repurpose into a speech/presentation for live events

8.Ezine with tips, resources, trends
a.Submit to ezine banks for additional subscribers

9.Blog
a.Blog or have someone else blog for you no less than 3x/wk
b.Pick a theme for each month to make it easy
c.Base the theme on your teleclasses and ezine, etc. to make all items/tasks easier to complete

10.Affiliate accounts
a.Amazon – book store, software store, web store, etc.
b.Commission Junction
c.Create your own affiliate account – essentially provides a means for others interested in your product a way for them to make a small percentage while you gain a virtual sales force

11.Blogtalk Radio – 15 mins – longer monologues or full blown radio show; record to podcast
a.Repurpose into an article
b.Repurpose into an ezine piece
c.Repurpose into a podcast
d.Repurpose into an ebook with additional resources
e.Repurpose into a speech/presentation for live events

12.Get involved; share your passion
a.Share your passion with others
i.Online
1.Social networks
2.Forums
3.Message boards
ii.In person
1.Networking
2.Volunteer opportunities in community
3.Church
4.Youth groups
5.Etc.
iii.Don’t forget to share your projects and/or websites with others

About the Author
Michelle Ulrich is the Chief Villager and founder of The Virtual Nation™, an educational destination for Virtual Professionals around the globe. Michelle is an avid believer in giving back to her industry and she does this by offering coaching, teleclasses, resources, and tools, in addition to providing a community of learning, a nation of culture, and a virtual village for her members.

She maintains her private practice where she specializes in working with authors, coaches and speakers who struggle to keep up with e-commerce and new technologies. Clients can check out her services at www.virtualbusinessmarketing.com, while Virtual Assistants can find her over at www.thevirtualnation.com. She can be reached by telephone at (916) 536-9799 in the Pacific time zone.

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This article is contributed by Michelle Ulrich.

"Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed, it is the only thing that ever has." by Margaret Mead

Here is a list of my Top 10 Reasons Volunteering Can Help You Grow Your Business:

1. Volunteering helps you find your place in the community, whether online or in person, especially if you are "the new kid on the block."
2. Volunteering facilitates many new learning opportunities. This occurs through mentoring or just being around others who share your passion or interests.
3. Volunteering fosters new relationships and builds on existing ones.
4. Volunteering can be a great opportunity to try out new skills or hone existing ones.
5. Volunteering gives you a sense of giving service; studies have found this to be very healthy for our brains, our overall health and our psyche (soul).
6. Volunteering creates opportunities for you to be on ‘ground zero’ of your community or industry.
7. Volunteering builds self-confidence and great potential for leadership building opportunities.
8. Volunteering can lead to business opportunities as most people like to do business with people they know and trust.
9. Volunteering is an important value we can teach our children. We can also act as role models for those in need. You may be the reason they give back and volunteer when they are ready.
10. Volunteering is a way to share your knowledge with others as others before you have passed down history and traditions from one generation to the next.

When you are in a rut, need some help or want to impart your knowledge to others, find a community (online or offline) and get involved. It won’t feel so lonely, your questions will be answered and you can pass down your legacy to share with others. Besides, it’s good for your health and well-being.

P.S. Volunteering can be a great way to 'pay it forward.' I have seen commercials where one person is having a horrible day and takes it out on someone else, and then the next person takes it out on the next and so on. If we turn that around and perform random acts of kindness via volunteering in our communities, what an incredible and beautiful synergy we can pass on to others. We can affect our communities with one single act. Imagine if everyone pitched in and volunteered for something...what a peaceful and happy planet this would be!

About the Author
Michelle Ulrich is the Chief Villager and founder of The Virtual Nation, an educational destination for Virtual Professionals around the globe. Michelle is an avid believer in giving back to her industry and she does this by offering coaching, teleclasses, resources, and tools, in addition to providing a community of learning, a nation of culture, and a virtual village for her members. Education is the foundation of her organization as well as for her own personal and professional development. Michelle has been a community college instructor teaching a Virtual Assistant certificate program online. Aside from coaching and teaching, she is also a speaker and soon-to-be author on the subject of Virtual Assistance. She maintains her private practice where she specializes in working with authors, coaches and speakers who struggle to keep up with e-commerce and new technologies. Clients can check out her services at www.virtualbusinessmarketing.com, while Virtual Assistants can find her over at www.thevirtualnation.com. She can be reached by telephone at (916) 536-9799 in the Pacific Time zone.

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There’s no question about the many benefits of writing a book and becoming a published author. Writing a book gives you instant credibility with clients and prospects, solidifies your expert status and builds your personal or corporate brand. In fact, studies indicate that, while more than 80% of the population wants to write a book, only tiny 2% will ever actually do it! Why? Most aspiring writers cite lack of time, lack of focus or lack of knowing how to physically undertake such an ambitious project.

Enter ghostwriters. No longer those shadowy figures lurking behind the scenes, ghostwriters today are experienced professionals who help aspiring authors write the book of their dreams. These writers and journalists work with their “authors” for months at a time to make sure their book gets written right. Most executives call upon ghostwriters to write for them simply because they don’t have the time or resources to do it on their own.

The price and quality of ghostwriters span a wide range. Like anything else in life, you usually get what you pay for. You can take your chances and try to find a low-priced freelance writer on Elance.com, but you’re far better off trusting your project to a pro who comes recommended from a trusted source or referral. That said, you can expect to pay a good ghostwriter upwards of $50,000 for a full-length, non-fiction business book.

The writing process can take 4 – 6 months to complete your manuscript, but good ghostwriters also serve as an advisor during the process, making sure that you’re project stays on track and is ultimately marketable. However, most ghostwriters rarely get involved in the actual publishing process.

Ultimately, your book is only going to be as good as the material and creativity you provide to your ghostwriter. You’ve got to stay engaged in the process and provide ongoing feedback in order to end up with the book that you envision. Still, with weekly meetings and timely feedback, the process can go smoothly and quickly.

Remember, not all writers are created equal. Look for a ghostwriter who is professional, dependable, collaborative, discreet, easy to work with and not afraid to tell it like it is. Find the right fit and you’re on your way to becoming one of those elite 2% who actually write their book!

Lou Bortone is an award-winning writer and video producer with over 20 years experience in marketing, branding and promotion. As an online video expert, Lou helps entrepreneurs create video for the web at www.TheOnlineVideoGuy.com. In addition, Lou works as a freelance writer and professional ghostwriter, with a ghostwriting site at www.GhostwriteForYou.com and a blog at www.GhostwriteGuru.com.

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OnStartups: Chances are, if you're reading this article, you are either involved in a startup already, or looking to be involved in one.

This article is for the folks in the latter category, the "wannabepreneurs". The ones that have always wanted to be entrepreneurs, but haven't quite gotten around to it. The folks still slogging it away in BigCo land waiting for the "right" entrepreneurial opportunity to come along.

Here's my advice: Stop Waiting!

If you've got a passion for startups, you need to be in a startup. Either run with the best idea you have and start your own thing (even if the idea sort of sucks), or join the best people you know that are already doing something. Just get out of the daily slog that is most big businesses. Scratch that itch.

Be an entrepreneur, not a wannabepreneur.

Here are a few quick points to help convince you:

1. You're probably overestimating the risk of leaving that BigCo job. Chances are, that sort of job (or something awfully similar) will be there a year from now if things go miserably.

2. Though nothing compares to doing your own thing, joining a startup team is not bad either. It's a great way to dip your toes in the water. Often, half the battle is just getting out of your comfort zone and being around startup people.

3. Regardless of what your risk tolerance is, you can likely still find opportunities that are more entrepreneurial than what you're doing now. There are startups with really high risk, with nothing but a dream and a developer (or two) all the way to startups that have raised several rounds of funding and are on the IPO path. You should be able to find a startup that meets your risk profile.

4. Unless you have some compelling evidence that things are going to get easier later to do something more entrepreneurial, chances are, they're not (going to get easier). So, if the question is when, not if, then ask yourself "why not sooner, rather than later?"

5. For those that are thinking: "Yeah, this is all easy for you to say, you're not walking in my shoes", I say this: You're right. If you truly don't have the situation or circumstances to take the leap, that's ok. I just implore you to at least think about it and decide for yourself whether your obstacles are real or perceived.

I'll close with a quote that's been on my list of favorites for a while:

"Regret for the things we did can be tempered by time; it is regret for the things we did not do that is inconsolable." -Sydney Harris

Taking The Leap: Don't Just Be A Wannabepreneur [OnStartups]

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There are only so many hours in a day and working on your own as a solopreneur means that if you want to really grow your business you either have to find a way of going without sleep, or expand your team!

Personally, I prefer the latter! And this is what I’ve been doing recently too. My web host takes care of anything technical for me related to my website, and over the summer I partnered with a bookkeeper so that she could take over this area of my business for me! It’s made such a difference being able to hand over a large area of my workload to someone else.

So how can you ensure that your new-found team all work together and provide the best possible support for you and your business? Here are my top three tips:

1. Create a Team Directory. List your virtual team members with their name, role, email, telephone number, website, and job description and circulate it amongst everyone on your team. That way everyone will know who is doing what and can go directly to the appropriate team member with questions rather than have to go through you.

2. Schedule in a Weekly Call. This would be the equivalent of an office staff meeting, but you can do this virtually using a teleconference service. There are many services available and a lot of them are free, you just pay for the call at your end. This is a great way to stay in touch with your team.

3. Encourage communication between team members outside of the weekly call. Set everyone up on a Yahoo group or instant messaging service so that they can communicate with one another and get your projects done.

With my clients as well as having a weekly call we utilize a wonderful virtual office service that lets us upload and share documents, centralize our contacts, allocate tasks, and maintain our calendars. Members of our ‘team’ can also communicate with one another via a forum, and we can also hold team votes!

So if you’re finding that you’ve reached a plateau in your business, and you enjoy getting your nightly sleep! follow my advice above and expand your team.

Online Business Manager & Virtual Assistant, Tracey Lawton, supports professional speakers, coaches, and authors to operate an efficient, organized, and profitable business. Learn how to create an efficient and organized office in 7 EASY steps, and receive free how-to articles at http://www.OfficeOrganizationSuccess.com.

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Younggogetter: This post written by Ryan, an entrepreneur, who, writes about relationship marketing, eCommerce, and other elements of business as it relates to Generation Y, on his blog, Ryan Stephens Marketing, outlines 3 reasons why you should skip obtaining your MBA.

Reason #1: It’s about PEOPLE — not rules, theorems, and formulas.

Being a great business person, or a great marketer is about connecting with people; it’s about building and solidifying relationships, and it is about making your brand a Lovemark. Managerial Cost Accounting doesn’t help you do that. I do not want to spend my life tucked away in a cubicle (or an office), but out on the streets interacting with and learning from consumers. What do they really want? How can I facilitate our relationship by providing them with the solution they are looking for?

What theorem teaches me how to do that? When you start seeing your business as a business of margins you are in danger of becoming a commodity. You can learn all the strategies in the world to get attention for your business, but what do you do when you get it? Is it sustainable? Learning about the people, your consumers and what they want enables you to thrive and consistently answer these questions. A piece of paper that dictates how well you ran regressions does not.

Reason #2: I’d rather build my network via Happy Hour and other events.

One of the reasons people decide to get an MBA is because it is a great opportunity to meet other ambitious people, and when one of them gets wealthy, they might hire you one day. But seriously, most good programs ensure that you get to hear some great speakers, work in groups with some talented peers, etc. and this is a valuable experience.

All I am saying is that I would rather do it at happy hour. Chances are you are working with some brilliant people right now. Maybe they fill stifled by their career, maybe underneath their rule-following, drone-like performances in the office they have brilliant business ideas that just need a little social lubricant to come to the forefront. I have had some great conversations with some really intelligent people at Happy Hour. I suspect it is because we do not feel confined by the rules of corporate America, but free to dream big, and showcase our passion for unique business approaches.

Aside from all of that, there are a lot of great people who will communicate with you if you make the effort. Is the CEO of Proctor and Gamble going to have lunch with you? No, the odds are not likely. However, if you contact someone in a company and tell them you respect the work they do (provided you have done your research and know what that is), and would like their advice concerning that particular field, job, etc. you would be surprised how many people would accommodate you.

Most people are nice people. Most people like helping other people. Build your network from the ground up. Just because a CEO comes and talks to your class does not mean he’s going to answer your email that you sent the next day. Take networking into your own hands.

Reason #3: I’m in too much of a hurry to waste time getting an MBA, when I could read some great books in one summer and get a very similar education.

For most MBA programs you need a few years work experience so by the time you work, then come back, then get the MBA, that’s approximately 5 years you could have been in the workforce, unleashing your ideas on the world (or at least trying to). And that’s my vantage point. I like to think of myself as an entrepreneur anxious to get out into the real world and to start making things happen.

Give me Keith Ferrazzi’s Never Eat Alone and I’ll learn about relationship marketing. Give me Kevin Roberts’ Lovemarks and I’ll learn about the future of branding. The point is a couple of good professors, business people, or bloggers could provide me with a list of great books I need to read. I could read one every other day or so and get a lot of the same education I would get in an MBA program.

Perhaps I do not get the actual experiences in terms of practicing presentations, but what better way to practice than to be giving presentations for my own company or whomever I am working with. Grades honestly do not matter that much to me anymore (I know, I know – you freak out if you don’t maintain that 4.0) but aside from obtaining higher education or that first job, when do they really matter ever again?

My aim is not to discredit or to diminish the idea of an MBA degree. I will freely admit that they can potentially accelerate your career path and provide you with a great opportunity to meet some phenomenal people and obtain some phenomenal opportunities in the process. All I am saying is that they are not the necessity that so many people believe them to be.

You can save all the money and invest your time emotionally connecting with people. You can build great relationships and hash out lucrative business ideas over a drink (or other social event), and you can obtain a solid education by reading best-selling business books by brilliant authors that probably know a lot more about that particular subject than your professor. I would say that is three pretty good reasons to skip getting your MBA.

3 Reasons To Skip Getting Your MBA [Younggogetter]

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You'll pay too much in taxes if you don't understand that cash in minus cash out does not equal profit.

This is the most important thing you need to know before you start keeping records for your business...cash in minus cash out does not equal profit. It simply equals cash left over. Or, in many cases, it's a negative number, so it equals cash you owe somebody.

What this means is that you'll need to understand the IRS rules and keep your records according to those rules so you report your profit correctly and take (and be able to prove) all the deductions you're allowed to take. Because you want to pay the least amount of tax possible, right?

The way you'll need to keep your books will be different depending on whether your business is a sole proprietorship, a partnership or a corporation. The rules for calculating income and deductions (and therefore profit) and the forms used for reporting to the IRS are different for the different business types.

What counts as income? Most or all of the money you take into your business will count as income. This includes fees for services and/or product sales.

But not all the cash that comes into your business counts as income.

If you get a rebate for a purchase you made at your local office supply store, that's cash in, but it's not income. It's a reduction in your supplies expense.

If you get a refund of part of your insurance premium at the end of the year, that's cash in, but it's not income. It's a reduction in insurance expense.

If you borrow money (and it doesn't matter if it's from your brother or the bank), that's cash in, but it doesn't count as income.

What counts as expenses? Most of the money you spend for your business will probably count as expenses. This includes advertising, postage, office supplies, and similar items.

But not all the cash that goes out of your business counts as expenses.

When you buy business property like cars, computers, and furniture that will last longer than a year, you're not allowed to deduct their entire cost as an expense in the year of purchase (except in special circumstances).

These items are called capital assets. Sometimes they're referred to as fixed assets.

You have to depreciate them over several years. Basically, depreciation is a process of spreading the cost of an item over its useful life.

You might have cash of several hundred or thousands of dollars go out the door when you purchase fixed assets, but you can't deduct the entire amount of the purchase price as an expense when you buy them.

Some things that your business pays for might only count as partial expenses. An example of that is business meals and entertainment where you can only deduct half of the cost.

That doesn't mean that your business can't pay for 100 % of the cost, but only that you're limited in the amount of the tax deduction you can take. This is another example of cash out that doesn't translate directly to expenses.

Some things your business pays for might not be tax deductible at all.

An example of this would be a contribution to a Political Action Committee. That doesn't mean that the business can't pay for it, just that it's not a deductible expense on your tax return.

Some more examples of cash that goes out the door that doesn't count as expenses are: draws for sole proprietors and distributions for partners or S corporation shareholders.

There's also one type of expense that can be more than the amount of cash that the business actually spends. It's the home office deduction that some sole proprietors can take.

So you see why it's so important to understand that cash in minus cash out does not equal profit.

Unfortunately, the IRS rules and regulations don't always make logical sense; they might seem complicated and unfair. One thing is certain. They are the way they are, so we have to deal with them. Learn what you can. And get help when you need it.

Sheryl Schuff, CPA, is a Certified Public Accountant, author, and consultant who teaches entrepreneurs how to get their businesses organized, keep good accounting records, and maximize their business tax deductions. She is President of Schuff & Associates, PC and has been in private practice for over 30 years. She recently started an information products company www.TaxesForSmallBusiness.com to provide individual training materials for small business owners.

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Young Entrepreneur: After polling our Young Entrepreneur readers, here is our list of the top 20 mistakes that startups make when creating a new business. I’ve also included a few of the comments that were left for some of the top points.

#1: Not Having a Clear Plan or Vision

“The biggest mistake people make is not looking far enough ahead in your market. So many businesses are losing ground to new technologies as example, so think ahead on how to better utilize these new technologies. With the current recession, how many planned for it? Every business will go through cycles of growth and market demize, just as we are all now seeing, so again, think ahead, have vision beyond today is one of the keys to success.”

#2: Surrounding Yourself With People Who Don’t Believe In Your Idea

“Another mistake would be surrounding yourselves with people (whether by accident or because they’re family, etc) who don’t believe in your idea. You need to be around positive feedback all the time.”

#3: Not Having Enough Money

“I think this is big for those businesses that have the incentive to only reap the benefits and not focus on the longevity of your venture. Taking out $10k now may prevent making $100k in a few months. Mindsets should not be “Yeah I own a buiness I make this much” but rather “Yeah I own a business, we invested in XYZ and were able to afford this new service/expand here/etc” Also, too many people plan on the basic expenses of starting up, and don’t think about the increased expense that come with a more successful, growing, developing business.”

#4: Doing It All Alone

“Lots of CEO personalities think they have to be the answer to all problems, and this is not the case. Their pride and mindset of “I must live up to this role” is skewed and they may fail to tap the most important and valuable resources that surround them in their management team and affiliates.”

#5: Not Seeking Mentors

“I think having a mentor - a much more experienced entrepreneur that can give you some valuable advice is so IMPORTANT…especially when you are a young and overly ambitious… and with so many challenges to meet on the way to success.”

#6: Losing Momentum

“Being satisfied and content with functioning can lead to “big headedness” and false hope that it will always be this way. You need to constantly improve your product/service, research your around-the-clock changing market and competition, and promote innovation and forward progress amongst your management and team.”

#7: Not Marketing Your Business / Expecting People To Come To You

“A few mistakes that I personally made was the lack of focus on a targeted marketing plan, and the miscalculation on future expected growth.”

#8: Not Looking At Your Competition

“I think it is a big mistake to start a business without really understand the market.”

#9: Being Overly Enthusiastic and Not Having Realistic Goals

“A few mistakes that I personally made was the lack of focus on a targeted marketing plan, and the miscalculation on future expected growth.”

#10: Not Thinking Survival

“Too many people think that so long as everything is done “textbook” and they have the proper set up, and plans down on paper, that they will succeed. Also, many people have the idea that it is easy to keep it up after they get an initial consumer base. Not true. small businesses are small fish in a big pond, constantly competing against emerging and growing bigger competitors that have the backing, both monetarily and resourcefully, to push them out of the picture.”

The remaining 10 common startup mistakes are:

* Doing It Just For The Money
* Not hiring right away
* Getting to year 1, past year 2
* Not getting involved in the community
* Working in your business instead of on it
* Going wide instead of deep into a niche
* Not using email marketing
* Having a lack of ambition
* Failing to network with others
* Growing too quickly

The Top 20 Startup Mistakes - Entrepreneur Poll Results [Young Entrepreneur]

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When most small business owners think about taxes, they think about Federal income taxes. But there are other taxes that I want to let you know about, so you’re not surprised if you have to pay them.

The first is self-employment tax. If you’ve ever worked for someone else, you know that social security and Medicare taxes get deducted from your paycheck. When you’re self-employed, you don’t actually get a paycheck.

Here’s what happens if you’re a sole proprietor. Following the IRS rules and regulations for calculating income and expense, you report your results for the year on your personal 1040 by filling out Schedule C.

Then you take the net profit and put it on Schedule SE for self-employment tax. After a small deduction, you calculate 15.3 % as your self-employment tax. This is double the rate of 7.65 % that’s deducted from employee paychecks because as a sole proprietor you’re both the employer and the employee so you have to pay both parts.

You get to take half of the amount of self employment tax as a deduction from your income on the front of your 1040. This has the effect of reducing your taxable income.

The self employment tax itself goes on the back of the 1040 in the section called Other Taxes on the line that says self employment tax. For the 2006 filing year that was line 58. This tax gets added to your Federal income tax and any other taxes you owe and is paid when you file your 1040.

If you (and/or your spouse on a joint return) have had Federal income tax withheld during the year that adds up to more than your total taxes for the year (which includes self employment tax), you’ll still qualify for a refund.

If your business is operated as a corporation AND you’re active in your business, you should receive W-2 wages and you won’t be subject to self employment tax on your earnings. Distributions from S corporations are generally not subject to self employment taxes.

If your business is operated as a partnership, you might have some items of income that are subject to self employment tax and some that are not. These items will be reported to you on a schedule K-1 that is part of the business tax return.

Sales tax

Many States have sales taxes. If you sell products to customers, you’ll have to charge them sales tax and pay it to the State. In some cases, digital downloads are considered products as far as the sales tax rules are concerned and certain services might also subject to sales tax. In Indiana, where I live, the rules are put out by the Indiana Department of Revenue. There will be a similar agency in your state who you can contact to find out the rules.

Local Taxes

Some cities and school districts have local taxes that you might have to pay. Some of these depend on your type of business. There might be additional sales taxes, property taxes, innkeeper’s taxes, or food and beverage taxes. Check with the authorities in your area for details.

And then there’s the often dreaded Estimated Taxes

This is a subject that confuses many people.

First, let’s try to understand the reason that the estimated payment system exists. Our system of Federal taxes is a “pay as you go” system. When you think about it, that makes sense. The government needs money all year long to pay for various things.

When you work for someone else, taxes are withheld from your paycheck each pay period, so the government gets its money over the course of the year. If you’re a sole proprietor, this doesn’t happen, so you’re expected to make estimated payments.

As with many IRS rules, there are some exceptions, and some penalties if you don’t pay enough or pay on time. There are some cases where you might not be required to make estimated payments (and you won’t have a penalty if you don’t), but it would still make sense to make them anyway, to avoid having to pay a large amount on April 15th.

If you have another job in addition to your self-employment, you can increase your Federal withholding on that job to cover the amount of the estimated taxes that you would otherwise have to pay. And if you’re married and file a joint return and your spouse has wages from another job, he/she can have additional Federal withholding taken out to cover the estimated payments.

Or, you can make quarterly payments using Form 1040-ES. You can also sign up to make the payments on-line. You might also need to make estimated payments towards your State taxes.

Payroll

If you have employees, you’ll need to pay various Federal, State, and local payroll taxes. But we’ll have to save that conversation for another time.

The most important thing you need to understand is that it’s your responsibility to find out what taxes your business has to pay. And that the laws vary from place to place and by type of business.

A good source of information is an accountant who specializes in consulting with small businesses.

Sheryl Schuff, CPA, is a Certified Public Accountant, author, and consultant who teaches entrepreneurs how to get their businesses organized, keep good accounting records, and maximize their business tax deductions. She is President of Schuff & Associates, PC and has been in private practice for over 30 years. She recently started an information products company www.TaxesForSmallBusiness.com to provide individual training materials for small business owners.

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Dorm Room Biz: Money. It’s what every college student wants and what every college student lacks. You can save up all summer and it is sure to be gone by Thanksgiving. Or, more likely, Columbus Day weekend. There are tons of ways students can earn money online and keep up with the trust fund kids. Here a few:

1. Teach the computer illiterate. Do you know your way around a computer better than you do your school’s library? Branch out your services to those who think a click of the mouse means their