Categories
Newsletter

BIZNESS! Newsletter Issue 60

BIZNESS! Newsletter
divider.gif
Cover Story
What Is A Solo Entrepreneur?
A Solo Entrepreneur (Solo-E) is a professional who chooses to go into business by themselves (go solo), collaborate with others, grow their business without boundaries and, more than likely, without employees. The Solo Entrepreneur may also be called a free agent….
Continued in BIZNESS! Newsletter Issue 60 >>>
Top Stories From CoolBusinessIdeas.com
– Lip Balm From Ben & Jerry’s
– Usher 2008 with Environmental Art Calendar
– Floating Hotel
– “Quiet” Talking
– Extra Flavors Skewers
– Dancing Flower
– Zoombak For Auto
Continue reading these top stories in the BIZNESS! Newsletter >>>
Top Stories From GetEntrepreneurial.com
– Runaway Sales Calls
– Questions Concerning Severance Separation Agreements
– Top 10 Business Plan Myths of Solo-Entrepreneurs
– Star Power: How to Hire a Celebrity Spokesperson
– 50 Things That Will Guarantee Your Speaking Success
– Connections That Count
– De-Stress for Success
Continue reading these top stories in the BIZNESS! Newsletter >>>

divider.gif

Subscribe Now
Can’t stand your demanding boss anymore? Start your own business! Before that, be sure to subscribe to our free informative newsletter. BIZNESS! is jointly published by CoolBusinessIdeas.com and GetEntrepreneurial.com What you get in BIZNESS! – the latest new business ideas, small business advice, business tips and info and entrepreneur resources. Everything you need for your brand new business!
Free 145-pages PDF report (worth $75) – “2006’s Best Business Ideas” – included with your subscription. Learn more here.
Subscribe

Categories
Entrepreneurs

Back to School Time Management

time%20management.jpgThe kids are headed back to school and it feels like you should have a lot of extra time on your hands. Why aren’t you able to accomplish all that needs to be done? Time management is a big struggle no matter what stage of life you’re in. As work at home moms, it is even more important that we manage our time wisely. Below are five tips on how you can accomplish more during the time the kids are in school.

1. Set your priorities
It’s important to map out not only what needs to be accomplished during the time that you have allotted each day, but also what things are most important. Make a list of the tasks that need to be accomplished and then rank them according to deadline, desire to complete, etc. Keep in mind that the more you can do while the kids are in school, the more time you’ll have with them the rest of the day. If at all possible, make time with you spouse and children the center of your day and try to work around it.

2. Schedule your time
Now that you know what order your list needs to be accomplished in, take the time to write out a schedule of how and when you will complete each item. This will give you a tangible way to see your progress each day. Your schedule doesn’t need to be set in stone – it needs to be somewhat flexible so that it doesn’t become burdensome. Having a plan of action will help you avoid distractions and accomplish more during the time you have available.

3. Delegate
Whenever possible, delegate tasks that can be accomplished by others. Have your kids stuff envelopes, have hubby print out business cards for you, and if you have a virtual assistant (VA), allow them to do some of the online work or phone calls for you. The best thing I’ve done for my business this last year is to hire a virtual assistant. She is fast, efficient and saves me a lot of time. I can be working with clients and making sales while she handles my article distribution and other tasks. The time saved is well worth the money spent.

4. Let the phone ring
Customer service is one of the most important parts of running a home-based business. Being available for your customers and being willing to answer questions is what will set you apart from the many other businesses out there. However, if you are working to accomplish a task that is important to your business it may be necessary to allow the phone to ring and the answering machine to handle some calls. I’m not suggesting that you ignore your customers, but that you use your answering machine for what it is – a message service. By knowing who has called and what they need, you can call your customers back when you have time to work with them without feeling rushed. Also, by knowing what your customers need before your speak with them you can make preparations ahead of time, thus spending less time on the phone and saving both yourself and customer time.

5. Take a Break
One of the biggest mistakes of work-at-home moms is to work too much. Because we are building our own businesses we feel that we will not succeed unless we’re working – or at least thinking about work twenty-four hours a day, seven days a week. This simply isn’t true. Taking care of yourself is one of the best things that you can do for your business. Focusing on something other than your business can give you clarity and help you avoid burn-out.

Running a home-based business while your children are in school is possible, but it does take efficiency and organization. It’s very important that you set your priorities and your schedule your time in a way that is flexible and that allows you to get the most accomplished in the time that you have available. Don’t get discouraged if it seems like you’re not accomplishing much some days. Rest, go easy on yourself and do your best.

Categories
People & Relationships

Hurry Up and Wait!

hurry-up-and-wait.gif
As part of what my company does in the talent representation business, we go to many photo shoots with our celebrities. From Playboy to Reader’s Digest. From Sports Illustrated to Newsweek. An area of expertise i have acquired is the art of Hurry up and Wait! Even though most people don’t do what i do, they understand this concept. I have a cure. One word really, PREPARATION!!!
The best way to reduce wasted time and focus on the job at hand is to have you, your staff, all parties involved prepared. For the obvious and the unthinkable. The tiniest detail can snag a multi million $ project. To have all of the duck in a row is always a monumental undertaking but one worthy of everyone’s dedication and commitment.
Whatever your industry is, there are projects and programs that require fore thought. If you are in charge or aspire to be in charge here is a great moment for you to shine! There is nothing senior management likes less than paying for people just sitting around and doing nothing. Creating meaningful activity not just action with no purpose can undoubtedly facilitate continuity and expedience.
Whether you are on a photo shoot, media tour, television commercial shoot, corporate team building event, brain storming session, etc., plan to work and work your plan!
EvanMorgensteinPhoto.jpgEvan Morgenstein: Entrepreneur, Consultant, Sports Agent, Motivational Speaker. Morgenstein started in the tech industry after graduating in 1987 from Syracuse University. Working for several partially owned IBM partnerships, Morgenstein learned from some of the best. He has parlayed that into a dominant company Premier Management Group in the celebrity talent and sports marketing industry.

Categories
Business Ideas

101 New Business Ideas for Retirees: Avoiding Failure

Most seniors are worried about being an entrepreneur and want to avoid making a big mistake that might deplete their retirement savings. The businesses mentioned in my book are just to that point. You can’t make a tragic financial mistake if you have only invested a few thousand dollars. Look for businesses that are service oriented, which frequently require a lot of your time as the main investment but not a lot of your money. You may lose 1000 hours of your time but only a little of your money.
Many businesses go astray when the market for their product and the price they feel they need to sell it for doesn’t materialize. If you have already signed a multi-year, store lease for your sales, you could be stuck with thousands of dollars in rent, utility bills and other fixed costs. If you have a product you want to sell, find a temporary venue such as a public market or a summer festival that you can try selling it at. You may have to pay $200 to $300 for a day or weekend space but you can set up a table to sell your product. If your sales are not overwhelming, you should reconsider making that product into a business. When you sell at the booth, you will get a lot of honest feedback on what customers think of the product and the price. Listen to them; it may save you from a big mistake.
Can you rent some of the equipment needed to operate your business with no long-term commitment. You may have to pay too much to rent the equipment to make much profit, but it will help you gauge your market size and will allow you to determine if you really want to do this for a significant portion of your retirement time.
Go work with someone who is already in the business you want to start. You may have to go a distance away from the location you envision for your business but you can learn a lot from a little on-the-job experience.
Start a hobby business. I’m a rock hound and I envision collecting valuable minerals (gold, rubies, sapphires, emeralds) and fossils and selling them for my retirement business. If my business is not successful, I will probably continue spending my time collecting valuable minerals and fossils and keeping them in my private collection. So in trying a hobby business, I will be doing what I would otherwise do for fun. I might even get some tax breaks for trying it as a business.

* * *

This new weekly column, 101 New Business Ideas for Retirees, is compiled specially for GetEntrepreneurial.com readers by Stan Spector. View all articles in this column by Stan Spector.

StanSpectorPhoto.jpgStan Spector is the author of “Baby Boomers’ Official Guide to Retirement Income – Over 100 Part-time or Seasonal Businesses for the New Retiree”. The book’s website can be found at StanSpector.com.

Categories
Sales & Marketing

Runaway Sales Calls

runaway-sales-call.jpgHave you ever been on a sales call where the client was in total control? Of course you were. We all were. And it’s a real bear trying to change things when it happens. At some point, it becomes a runaway sales call and the client has manipulated and controlled everything. When this occurs, you lose all negotiating power, your ability to identify their problems, the chance to close, and anything else that will help you win their business.
I was in one of those memorable events once along with one of my resellers, in a previous life. Since we only sold through the dealer channel (i.e., value-added resellers), I was there representing the software vendor I worked for at the time and supporting our reseller. So I let the reseller run the meeting. Sounds innocent enough. Yea, Right! The client had about four or five people in the room and were very polite and cordial. And then they brought in Hans, their “technical guru”. (Seriously, that was his name – Hans) That’s when things changed for the worse.
Hans began to tell us about how challenging their business was as one of the leading carpet manufacturers in the industry. They sold to carpet distributors (who sold to stores such as Home Depot), major retail outlets (such as Home Depot), small carpet dealers, and other various distribution channels. As a result, their challenge was forecasting future business, since many of their clients changed or canceled their orders even after his company started manufacturing their orders. This caused enormous wastes when not managed properly. So they were looking for a product that would help them plan their business, forecast sales, manage their accounts, and basically cure world hunger (well, not exactly, but that’s what it sounded like at the time).
Every time our reseller tried to present how our product could potentially solve his problem, Hans, in his heavy Bavarian accent, would shoot it down, saying in a condescending tone, “You don’t understand our business. That won’t work because…” It seemed like he kept trying to set us up with a description of a problem, only to say that anything we proposed wouldn’t work. It was as if he already knew it wouldn’t work before he opened his mouth. And, in fact, that’s exactly what was happening. You see, he told us that every vendor he brought in had the same useless solutions and we were no different than them. He proceeded to challenge us to solve his problem since no one else could. He was in total control of the meeting. He made it clear that he was bringing in vendor after vendor, only to chew them up and spit them out. This painful episode prevailed for quite some time, that is until I spoke.
Since I let the reseller do all the talking so far, I noticed that he was desperately trying to solve this guy’s problem and sell him our product. I, on the other hand, saw something else going on — a big game that Hans was enjoying. I think he called it “Kill the vendor”. He was, in fact, trying to find a solution since his problem was genuine. But he was using his unique situation to challenge every vendor he could get his hands on. That is until I realized that his problem was a process problem, not a technology issue. In other words, his problem was systemic and had to be resolved by the way they did business with their clients. Once that was resolved, then they could use technology to track and manage their business. Unless they fixed the way they handled their own customers, technology wouldn’t do them much good.
I waited for just the right moment to initiate a well-placed cough to get their attention. I then leaned forward in my chair and said, “Excuse me Hans, but what makes you think that technology can solve your problem.” He started to answer, but only a few half words and stutters came out. He stared at me, then at the ceiling. After what seemed like 5 minutes of total silence, he leaned forward and said, “No one has ever asked me that before.” So I said, “So what’s the answer?” And he said, “I don’t know. But I think you are on to something. We’ve been looking for a solution in the wrong place.” We then had a very cordial and intellectual discussion about business processes and how to handle customers who screw up his business by canceling orders after he started manufacturing them. Hans’ demeanor totally changed. He started treating us with respect and assigned himself a project to figure out how they will change their processes to resolve their internal issues. Only after that was done would he revisit technology.
I have since moved on and don’t know what Hans and his company ultimately decided to do. Frankly, I don’t think our product could have helped him anyway, but it was a very interesting exercise in managing a sales call. Wouldn’t you agree? With some good listening skills and asking just the right questions, you can keep control of your sales meetings, qualify your prospects, and arrive at the right solutions, even if that means walking away because you don’t have the right solution for their problem.
Good Luck & Good Selling!
RussLombardoPhoto.jpgRuss Lombardo is President of PEAK Sales Consulting, LLC and an experienced CRM and Sales consultant, trainer, writer, speaker and radio show host. Russ works with businesses to help improve their customer acquisition and retention for increased revenue and success. Russ is author of the books, “CyberSelling”, “CRM For The Common Man” and “Smart Marketing”. He can be reached at 702-655-5652 and emailed at russ@peaksalesconsulting.com.