Small Biz Sanity

Is a mastermind group right for you?

Sometimes as a small business owner, you need that extra push that may sometimes be hard to come by on your own.  Nearly everyone has "energy slumps" here and there while running a business--not just physically, but also in the creative and motivational sense.  So, what can you do to encourage continued motivation & fresh ideas? 

A mastermind group might be the answer.  Okay, you might be asking--what exactly is a "mastermind group?"

Basically, a mastermind group is when two or more people come together on a regular basis (weekly, monthly, etc.) to share & brainstorm ideas, offer support, etc.   For small business owners, they're great for introducing new ideas and perspectives from colleagues whose outlooks you respect and admire.  If you have questions or dilemmas concerning a particular business situation, masterminds are great places to get support and advice from those who may have experienced similar situations.   And if you're hatching a new business plan, a mastermind group can help you stick to the timetable you have for getting things done--with as little procrastination as possible (and you know we're all prone to that!)

So that being said, why not start your own mastermind group?  If so, consider reaching out to small biz colleagues who share your desire, inspiration, skill/success level--and similar goals & challenges.  Perhaps like you, they share the same goal to increase their sales or clientele by a certain percentage within the upcoming year.

Mastermind group members can be anywhere, as there are different ways to hold sessions--either in person, over the phone (click here for free teleconference resources) or online via a message board (Yahoo! Groups is a good free message board resource).  

Although some mastermind groups are fee-based, many of them are free and simply consist of several people committed to sharing & supporting each others' goals.  However, what you do want to do is make sure everyone's on the same page in terms of their committment to participation in the group and moving forward with their businesses--you don't want one person's low energy to bring down that of the rest of the group. 

To learn more about starting your own mastermind group, a great resource you might want to check out is Meet and Grow Rich: How to Easily Create and Operate Your Own "Mastermind" Group for Health, Wealth, and More by Joe Vitale and Bill Hibbler.  All in all, a mastermind group can be a great way to stay motivated on your path to small business success--and also remind you that you're not alone in your entrepreneurial challenges.

Entrepreneur Q&A: Jamila White on teleseminars!

Okay, so this isn't the usual "Entrepreneur Q&A," where I tend to feature full-on interview & profiles with one of the many dynamic entrepreneurs that Small Biz Sanity loves to spotlight.  This one is actually a bit more targeted towards a specific question that I (and perhaps others) had regarding teleseminars.

On my small biz "to-do" list are teleseminars of various topics, featuring experts in various areas. (Stay tuned by joining my mailing list for updates!)  "But," I thought, "what if the featured expert has to cancel or postpone at the last minute? What to do?!?"  I knew just the person to call for backup tips:  My friend & colleague Jamila White, the "e-Commerce Diva."  With her expertise in Internet marketing, melodious voice and affable, friendly personality, she's a natural teleseminar pro.  (Oh, and visit her site for more info about her great resources, workshops and products!)

So without further ado, here are her "backup-plan" tips for possible teleseminar guest no-shows...

White says:  I've been really fortunate that to date I've never had a no-show for one of my teleseminar guests. I have had some last-minute changes, though. Just last week my scheduled coaching call with Internet marketing millionaire Stephen Pierce (for my E-Commerce Masterminds members) had to be postponed a week due to a last-minute change in his travel schedule -- his flight back from Asia changed. So we pushed it back a week; it's tonight. We're all looking forward to it!

The reality is life is full of the unexpected, and sometimes things come up. There are two important things to remember. First, good communication is the key. Make sure the invited guest gets a confirmation email with all of the details, including the time zone, as soon as the event is booked, a confirmation in the morning on the day before, and one on the day of.  Make sure they reply to it. If not, pick up the phone and call to confirm. If there are several months in between the booking and the event, be sure to keep in touch in the interim. Also, if a scheduled event changes, be sure to communicate to all the attendees and your vendors (such as a telephone bridge scheduler or audio engineer) as soon as possible. Let them know what's going on so that they can adjust accordingly.

Second, use your network. I have several other experts who are personal friends and who give teleseminars and talks all the time. I know that I could call on them to be a last minute substitute if something happens and a guest doesn't show up or cancels on extremely short notice. Fortunately, I haven't had to do this yet, but I have been on the flip side more than once when friends and colleagues have needed me to fill in for guests who couldn't make it for their radio show or teleseminar, or even to guest host for them if they got sick.

Jamila White, “The E-Commerce Diva™”, helps small business owners develop their web marketing strategy to attract new customers and sell more products during her six-week “Supersize Your Web Sales”™ Tele-Bootcamp. Learn more at http://www.ecommercediva.com/supersize

Staying afloat on Cyber Monday

So, first it was all about Black Friday (and I don't know about you, but 300-style battles w/ fellow shoppers at 4am is not my cup of tea, but to each his/her own...)--now, the hype is focused on Cyber Monday, that increasingly-infamous first-day-back-at-work when folks go crazy with the online shopping.  According to comScore, Inc., online shopping mushroomed from $12.3 billion to nearly $30 billion since 2003.  Clearly, it's way more mainstream than just a few years ago, when online shopping used to elicit raised eyebrows from most.

For small business owners, it's another challenge to stay on top of their sales game--but it's doable to not only achieve sales, but skyrocket them.  Here are a few tips from Inc.com:

• Keep your site up to date. Make sure it looks fresh and has the most current information.

• Keep your audience in mind with your website. This goes back to one of my favorite marketing adages -- "Think like your customer!"

• Content actually is more important than style. "Most people will put up with a bad design if the content grabs them." If you are not a good writer, use someone on your staff to write to copy. You may even to best to hire someone to write your copy for you. Such an investment should pay for itself with increased activity from your site.

• Don't overdue the animation. It can slow down visits to your site and cause people to move on to another site.

Question: Which do you prefer--Black Friday, or Cyber Monday--and why? What are your strategies for finding the best deals?

Making the Release

If you want to get the word out about new launches, events, products and services concerning your business, nothing gets the job done like a great press release.  From the many I've done for various clients, I've compiled some tips on writing a great press release that will get attention--and free publicity for your business.

Making the Release

So, you and your business have a great product, event or “rags-to-riches” story that you’re dying to spread the word about--because you just know that once people hear the news, they’re goin to want to know more about what you have to offer. You can already hear the “cha-ching!” sound as new customers beat a path to your door. The question is…how are you going to get the word out?

The answer…a great press release.

A press release is a great way to gain free publicity (and who doesn’t want that?) for your business & services. How you write one can make all the difference between getting media coverage for your business—and your crumpled-up press release covering the bottom of an editor’s trash can. So, here are some tips on how you can hopefully achieve the former.

Bartering: Is it right for you & your biz?

We're all out here running our businesses and lives to the best of our abilities--and at the same time, trying to keep overhead & expenses to a minimum.  Before you whip out your wallet and/or credit card, consider bartering. Now, some business owners aren't too keen on the concept, feeling that it's an easy way to sell one's services short.  But it's actually one of the oldest business practices around--an when it's done correctly, bartering is a great way to give and receive services & products without breaking your bank at all.  If you stick to a few basic rules, bartering is a good way to network and keep your expenses down. 

From "Nine-to-Fiver" to Entrepreneur

Starting and running your own business is exciting, but let's face it--it’s also hard work! From my own experience in starting my virtual assistance business Right Hand Concepts back in 2003, here are some tips I've compiled that may help you in a smooth transition to full-time entrepreneur.

Assess your assets
Do you have enough money socked away for your transition? As you work at your full-time job while getting your business up and running, take the opportunity (and that still-steady paycheck) to save as much “rainy-day” funds as possible--six months’ to two years’ worth of living expenses is a good rule of thumb. Insurance plans are another important issue for small business owners--how will you get yours? If you’re married, you can probably join your spouse’s plan. If you’re solo, your local chamber of commerce can be a great resource in finding discounted health insurance rates, as well as other business, industry and networking organizations that you’re a member of. Another option is to continue with your employer’s plan through COBRA.

Test the waters
When it comes to your new business…research, research, research! Surf the Internet for information about the industry you’re entering, and keep an eye open for new trends. Who will your competitors be? What do they have to offer? Most importantly, what don’t they offer that you’ll be able to? If you can fill a particular niche or customer need, you’ll have that much more of an advantage over your competitors. Another savvy strategy is to talk to someone already established in the same business, and pick their brain about the rewards and challenges they regularly experience. And don’t forget to handle your business’s legal requirements, such as registering your business name and applying for a federal employer identification number (EIN), any state/city business licenses, tax certificates and zoning allowances.

Resign professionally
During your corporate ladder climb, you’ve probably been in a similar situation: Your boss has once again given that promotion to a schmoozing, slacker colleague—while passing you over despite your hard work and long hours. Office politics? Perhaps. Although the thought of barging into your manager's office and handing him or her your resignation sounds tempting, slow down and count to ten. We’ve all had bad days, but immediately quitting a job based mainly on emotion could prove detrimental to your transition plan if you leave before you’re ready. Instead, take some time to calm down and clear your head—go out for a walk during lunch, or discuss your feelings with a good friend. Then, concentrate on using your energy as motivation for building your business, so that when you do give your notice, you can approach your manager calmly and professionally—and avoid burning bridges in the process.

From employer to client
If you’ve done the above, then bringing your former employer on as a client is a possibility. If your services are similar to your previous job description, the company may see the financial value in continuing to work with you rather than go through the tedious process of finding and hiring someone new. Before you leave, make an appointment with your manager to discuss your services as an independent contractor—and give them a detailed proposal outlining services, costs and areas they’ll save money in (i.e. no employee benefits, payroll taxes, space or equipment, etc.).

Keep it positive!
Starting your own business is challenging enough, so you’ll want to surround yourself with as many positive people as possible. Not everyone understands the entrepreneurial mindset, so you may have some family and friends thinking you’re a few fries short of a Happy Meal for having the audacity to leave the relative security of a 9-to-5. Expect this attitude occasionally; entrepreneurs are still widely considered “outside the norm.” Surround yourself with supportive, encouraging friends and family who “get it”—and utilize the many online communities structured for support within your industry.

Yes, we ALL can.

“I never thought I’d see the day.” 

 

 That’s what many older black people said on the historical moment a few nights ago when Barack Obama strode to the podium in Chicago’s Grant Park to make his victory speech as the first African-American presidential elect.  Although I’m not one to get teary-eyed, the moment struck my soul to the core like nothing before.  There was always something about his positive, hopeful energy, not seen since JFK, that led me to believe in my gut that Obama would win Americans of all races over—but as his electoral votes reached—then sailed past—the required 270, I was happily dazed with a mixture of shock, awe & giddiness.  Did that just happen?  I thought.  Yep, it sure did.