photo credit: davitydave

Well, we have made it to deadly mistake number 6 in our discussion on the 7 deadly mistakes new entrepreneurs make and how to avoid them. I hope by this point you have learned how to avoid some of these mistakes based on the information I have supplied. Why repeat mistakes others have made if you can avoid them?

Deadly Mistake No. 6 – Not Placing a High Value on your Customers

Many entrepreneurs have been taught how important the customer is but few have really embraced this concept so that it permeates every aspect of their business. Valuing your customer goes beyond customer appreciation days and rebates. In order to value your customer you must take the time to get to know them and then design your business around them.

Many entrepreneurs start out with the customer at the heart of the business but somewhere along the line the customer becomes secondary. This is especially true of growing companies. The entrepreneur’s focus moves from the customer to building the business and dealing with internal issues. This is a hugely costly mistake. The customer must remain the main focus of the business if the business is to thrive.

Here are three simple keys to help you keep your customer front and center in your business:

1. Focus on your customer – As the leader of your business the customer must be your personal focus. Spend time thinking about your customer’s lifestyle. What do your top customers do for work? What do they do for recreation? What are their biggest problems?  You also need to know how your customer interacts with your product or service. Why do your top customers buy from you and not from your competitors?  How are your top customers’ needs changing? What is the biggest problem your customer is having using your product or service. Start thinking along these lines about your customer and you will help keep them front and center in your mind.

2. Build your systems around your customer – This is really self-explanatory. Any system you build in your business should be built only if it helps you serve your customer better. If it doesn’t help you serve your customer better it is not a good system for your business. Simple.

3. Teach your employees how to treat your customers- Your customers are gold to you and they must be gold to your employees. Make sure every employee knows the link between their jobs and how they treat every customer. They must understand that without the customer there is no business and therefore no job for them. It is your responsibility as the entrepreneur to communicate this message to your employees both orally and by example. You may also want to reward your employees for going the extra mile for your customer.

In the final post in this series we will discuss the 7th deadly mistake. As always I welcome your comments.

photo credit: ckaroli

In our final installment of this series I mention 3 more modes of thoughts for successful entrepreneurs. I am sure you know that this list is not exhaustive. There are more modes of thought that are important for the entrepreneur that I may address in future posts. Ok, now for the “final” three modes…

Think “Extra Mile or Ten” – It’s about service. Extraordinary service. Find out what your customers really desire  (which you have learned from our previous post because you are thinking like your customer) and find ways to deliver this desire packed with unexpected value. Discard the thinking of the limited entrepreneur that delivers ordinary service. Train yourself to think about each interaction with your customer and how you can make their experience exceptional. Do this and you will create fans that will spread the word about your business and your service. Your business will prosper.

Think Leverage – You can’t do it all yourself. Thinking you can is a limited and foolish way to proceed. Many entrepreneur limit their success, ruin their health and destroy their families simply because they attempt to do it all. Banish this mode of thought. Adopt the leverage mindset. There are many types of leverage but 2 good ones to start with are technology leverage and people leverage.  

Learn how to use technology to get things done more effectively and efficiently. Look at your business model and think about the processes that can be enabled by technology.  Here are two good questions to get you started. How can you use the Internet to reach your clients better or deliver better service to your clients? How can you use you mobile device to be more productive?

How about people leverage? What tasks are you handling that would be better performed by an employee or a freelancer? As I mentioned in a previous post, you should be focusing on the 20% of the business that gives you 80% of your results. The rest should be outsourced to others. One caveat is that you should only outsource to talented people. Talent may be expensive but the quality they produce is worth it.

Think Creatively- This is a very important mode of thought for the entrepreneur. You must learn how to think creatively about opportunities and about problems. Think laterally. Think options. When you are dealing with a problem think about 3 ways you can solve the problem. Simply doing this will help get your creative juices flowing. 

Here is another great way to get those creative juices flowing. Look at another industry and pick a process that is common in that industry. Now think about your business. How can you apply this concept to your business? This is a great way to generate new ideas for your business.

Please let me know how you use these modes of thought.

photo credit: Tracy O

What do they say about being too good to be true?  It always seems to apply.  If someone can find a way to scam you out of your money with little effort, they will do it.  That philosophy also applies to work from home jobs. Don’t fall victim to these scams.

All job industries are prone to scams.  A scam is any activity that claims to be above board but is designed to defraud you of your money.  Most are based on the premise that people are willing to give you a little money or a little information in return for a big payday.  And, so far the scammers have been right.  Indeed, in todays’s tough economic climate,  many potential entrepreneurs are more vunerable to the claims of scammers.

Work at home jobs have fallen prey to the scammer as well.  Working from home is a dream job for many who want the freedom that such a position brings.  Working from home is not for those who can’t motivate themselves to do the work, however.  Procrastination can spell the death of a good opportunity.

In amongst the legitimate garden of companies looking for extra help from those looking to make some extra cash, are the weeds of crooks who want to cash in on the popular phenomenon.  You would think that with the time and effort put into setting up these scams, the scammers could be making a lot of money legitimately.

Some scams have a few things in common that you can find out in a few minutes.  Be on the lookout for them as you search for legitimate work.

1.  Scammers ask for money upfront.  This is not the case with established opportunities like Avon, Mary Kay, or The Pampered Chef.  Here, you purchase materials to begin the business process, and there are hundreds of people out there who have made money with these companies.  Instead, we are referring to the small ads on websites or in newspapers that ask you to send $50 for a book that teaches you how to make $10,000 a month.  There are many books in the bookstore that can teach you to make money and they cost less than that.  More than likely they are trying to get your financial information.

2.  Scammers offer limited contact information.  If you can’t get in touch with them, don’t buy into it.  Even fake websites can be set up.  Try to contact customer service or someone in charge before giving out any information or signing up for anything.  Some online scamming emails and ads are trying to plant bugs and other nasty things on your computer by opening messages and clicking on links.  If you never heard of it and there is no way to contact them, forget it.

3.  Scammers mention making lots of money but nothing else.  Sketchy ads are a warning sign.  Think about it:  Who would pay you $30 an hour to lick envelopes?

4. Scammers will not give you verifiable information. They make claims but they don’t give you any way of verifying the claims. If you can’t verify the claims don’t give them your money or your information.

Scammers will try to prey on people looking for legitimate work from home jobs.  Check with reputable companies first and then ask for referrals from friends and family.

photo credit: milena mihaylova

How we think affects every aspect of our lives. This is no truer than it is in our businesses.  As entrepreneurs our habitual modes of thought shape what we accomplish in our business. If we learn how to think right we can accomplish great things.

In this post and the subsequent post, I will share with you 7 modes of thought that will lead you to entrepreneurial success. Here are the first 3:

Think Big – I am sure you have heard this before but it bears repeating. It is important to think big in terms of your entrepreneurial vision and the number of people you can serve. For example, you may be thinking about creating one location for your business. How about thinking about 10 locations or 100 locations? Remember you don’t have to do it by yourself nor do you have to do it all at once. People often overestimate what they can do in one year but grossly underestimate what they can do in 10 years. Thinking big serves you well because it will propel you past pettiness and small obstacles. I encourage you to look at your current business reach and multiply it by at least 100.

Think Small -This is not a contradiction to our other mode of thought. Thinking small is thinking about distinctions. What makes your business different from your competitors. What distinctions can you make in your business that would be hard to copy? Remember several small distinctions can make a huge difference.  Look at your business and your competition, what are 5 small distinctions that you can make to better serve your client base.

Think without Fear – Ask yourself this question- what would I do as an entrepreneur if I knew it was impossible for me to fail? This powerful question helps you think in terms of possibilities. Many entrepreneurs limit themselves with fear-based thinking. They focus on what they can’t do instead of what they can do. In your current business or in the one you are planning to start, answering the question presented above will take your business to a new dimension.

Please stay tuned for Part 2 of this series.

As always, I welcome your comments and suggestions.

photo credit: faster panda kill kill

It seems like every working person’s dream is to leave the office and set up shop at home.  Before you get too used to the idea, however, think it through and know what to expect so the experience is as great as you imagine.

1.  What kind of work will you do at home?  It is never a good idea to leave a job without a plan.  Setting up a freelance business means a time lag between contracting with a client and getting that first paycheck.  Line up work ahead of time so your business is already on line before you leave your day job.

2.  Can your finances survive the move to a home office?   If you are quitting a day job in favor of starting your own business, sit down with the family and gauge your financial situation.  Consider establishing an emergency fund to cover any unexpected expenses or normal household bills until the home business starts bringing in money. 

3.  Where in your home will you work? Set office space apart from the rest of the house.  You might have visions of sitting in your pajamas at the kitchen table while working on the computer, but that gets old really fast.  Your productivity will likely give way to cleaning the kitchen, fixing breakfast, and watching television.  A room dedicated to your home business is the best way to maintain your focus on work even though you are at home.

4.  What equipment is needed to run a home office?  Before you pull up stakes, be sure to purchase all the items you’ll use in the home office.  The basic essentials include a separate telephone line, a printer, a fax, a computer devoted to business, and of course a desk and chair.  Hit the ground running with your home business.

5.  How will you manage the children?  Moms who start their own home business get to spend more time with their kids.  But, as good as that sounds, the kids can also distract you from doing the work you need to get done.  Decide how you will handle work time and family time before you come home.

6.  Who will handle the housework? The battle between housework and office work is never ending.  Just because you are at home doesn’t mean you have time to do all of the chores.  Your primary concern is getting the home business off the ground.  Between you and your family, discuss what is expected of each person.  You might be home but it is in a working capacity.  Everyone can pitch in with the work.

 7. What hours will you work? Clearly delineating what hours you will work will save you a lot of hassle. If other people live with you it will be important to manage their expectations. If they are not used to having you home they may interrupt you often. It is important for you to let everyone know when you are working and when you are available. Be sure to set-up and post specific hours as work hours. This is important even if you live alone because if will help keep you honest.  It will help you in two ways. You will know when to start working and equally important when to stop working.

8. Who will you be accountable to? Just because you are working from home doesn’t mean you have to go it alone. Actually, it is very important to establish an accountability relationship. Find someone else who is in a non-competing business and exchange your weekly goal lists. Connect with you accountability partner once a week to review what goals you have met and what goals you’ve missed. Just knowing someone is checking in on you will help you meet your more of your goals.

9. Who are you networking with? Working from home can be lonely.  It is important to get out and network. Meet with you clients face-to-face sometimes if possible. Find and join networking groups. Get out and walk around your neighborhood. Not only will this refresh you but you may get some great ideas for your business.

 

Working from home has its benefits but they come from being prepared.  Before deciding to leave the work force and come home, know what to expect.

photo credit: contemplativechristian

I don’t know about you but I am tired of people being scammed and bilked out of their money. Doesn’t it just sicken you when you hear about crimes like those committed by Bernie Madoff? What do you think about all those Internet scams and work at home scams. Where has integrity gone? Do we still know the definition of integrity?

 

What is integrity?

 

There are many ways to describe integrity. Here’s a simple description:

 

• Consistently doing the right thing even when no one is looking
• Doing no harm
• Delivering more than is expected

 

 If we as entrepreneurs and small business owners (and human beings) would simple do these to things, we could change the face of business.

 

Doing the right thing

 

I believe we all have an inner voice that helps us discern right from wrong.  Do what you know is right.  Be honest with your clients, your spouse, your family, your coworkers and yourself.

 

Be consistent in doing the right thing. Do it when people are looking and when people are not looking. It is liberating.

 

Doing no harm

 

Whether you are thinking about creating new products, advising your client or launching a new marketing initiative decide to do no harm. Always think about the effects your words and actions will have on others.

 

Deliver more than expected

 

I believe this is a part of living in integrity because so customers are so often disappointed with the quality of products and the level of service they receive from businesses. In order to exercise integrity, manage expectations and then over deliver. Say what you are going to deliver and deliver more. Go the extra mile.

 

The Power of integrity

 

Integrity is a powerful currency. When you live a life of integrity here are some of the powerful things happen for you:

 

• You develop a good name which opens doors for you
• You become more confident
• You simplify your life
• You live life in a state of positive flow
• You attract like-minded people who will help you meet your goals
• You gain credibility and favor
• You move towards your goals faster and you achieve more of your goals.

 

Action steps

 

Make a commitment to day to live you life with more integrity.  Make up your mind to do the right thing, look out for the best interest of others, and deliver more than what is expected of you. You will be rewarded in ways that you can’t imagine.

 

I would love to hear from you. How do you define integrity?

 

 

photo credit: Ernst Moeksis

There are many reasons you shouldn’t quit. In this post I share 5 reasons I believe you shouldn’t quit in your endeavor to create or improve your business or your life.

 

 

You are probably close to your breakthrough

 

It is strange the way life works. Many times when the temptation to quit is at its strongest is when you are closest to your breakthrough. It is as though your commitment to succeed is being tested right before reach your goal.

 

I know you have been working hard to get that next contract, that next business idea, the funding for your enterprise or any other worthy endeavor. I know it has been hard. I encourage you to step back a moment and gain perspective, approach it from a different angle, rest if you must, but don’t quit. Try again because you are almost there. Don’t quit.

 

Read a great poem about quitting.

 

You started this for a reason

 

This quest that you are on, you started for a reason. Take time to remember the “whys” of this endeavor. You did it for your family.  You did it because you believed it would make a difference. You did it to make a better life for yourself. You did it because you wanted to live as a better version of yourself.  Go back and rediscover the reason for your goal and here you will find the reason you shouldn’t quit. Don’t quit.

 

People are depending on what you are working on

 

You were put in this world to make a difference. Someone is depending on you. There is some person that deeply needs the very project that you are working on. You are not here just for yourself; you are here to solve a problem. Don’t quit because your project is very important to someone else. Don’t quit.

 

Even if you fail on this attempt you will have learned something important

 

You may be thinking of quitting because you are afraid to fail. I invite you to change your thinking about a failed attempt. If you have a failed attempt it doesn’t mean you are a failure. In fact, failure can be very good if you learn from it. Failure is meant to teach you something. Failure is only failure if you don’t try again. Don’t quit.

 

You don’t want to develop a habit of quitting

 

Don’t quit because quitting can become a negative habit. When you quit, many times it leads to a feeling of low self-esteem. This can drive you to quit other endeavors when it things get hard. You soon develop a habit of quitting which leads to a string of failures. This creates a vicious cycle and quitting and failure. Don’t quit.

 

What are some reasons you can think of not to quit? I look forward to your comments.

photo credit: alexdecarvalho

Since this post is so popular I decided to repost it. Please let me know what you think.

So, you have decided to go into business for yourself.   I applaud you. This is big! As an 18  year veteran, let me say that being an entrepreneur is both exhilarating and exhausting.  You love it and you hate it.  It can cause the best of times and the worst of times. Ok, maybe I am being overly dramatic, but you are in for a heck of a ride! (Ok ,I am going to cool it with the exclamation points.)

Before you get started, please allow me to share 7 deadly mistakes that many newbies make and show you how you can avoid them. There are more than 7  mistakes,  however, these can be particularly lethal. Why?  Because their effects can go undetected while they silently and slowly kill your business. 

Deadly Mistake 1. -  Not Defining a Clear Mission

Many new entrepreneurs, excited that they have a new business idea, want to run out and start taking on new customers. Stop. Don’t make that mistake. First, take the time to define a clear mission. This mission should take you beyond just making money.  Here are 3 good questions to get you started:

• How is my business going to be uplifting to my customers?
• What need is it going to fulfill for my customer?
• Why is fulfilling this need so important to my customer?

 In his book Rich Dad’s Guide to Investing , Robert Kiyosaki explains that his Rich Dad said: “If a mission is clear and strong, the business will weather the trials every business goes through during its first ten years. When a business gets big and it forgets its mission, or the mission it was created for is not longer needed,  the business begins to die”.  (Richard actually describes some fundamental keys to forming a winning business, I would suggest reading this section his book (chapters 31-36)).

The mission is what raises your business above the mundane. It breathes life into your enterprise. Don’t underestimate it.

Need help? There are lots of resources you can find doing an Internet search. One such resource is  http://www.missionstatements.com .

 Deadly Mistake 2: Working in the Business but not Working on the Business

This is a classic mistake. I have been guilty of this one myself. This can be especially deadly if you are flying solo. Fred had this problem.

Fred is a computer-networking expert. A friend encouraged him to start a computer networking business to serve small businesses in his town. Fred wholeheartedly opened this business. Fred had a special touch with his clients and he did fine the first year.  He was a technical genius and his clients loved his work. Things were good.

Then it happened…Fred started getting threatening calls from bill collectors,  his accounts receivables were increasing, customer complaints were increasing and he hadn’t acquired a new customer in months. What was happening?

Fred was so busy working in his business that he neglected to work on his business. He was doing all the technical things that a network specialist should do. Indeed, this is what he enjoyed and where he invested all of his time (working in the business).  The problem was that important activities that would allow him to stay in business were cast aside (working on the business). Activities like creating and executing a marketing plan, paying your vendors on time, managing your accounts receivable were simply not done in a systematic way.

How do you solve this problem? A good place to start is as follows:

•  Write out and separate “in the business” and “on the business” activities into 2 categories; 
•  Set aside specific blocks of time to work on the business and only on the business. 

Want to learn more? A classic book that addresses this very subject is  The E-myth Revisited, by Michael Gerber .  It graphically lays out the problem and then provides workable solutions. It is a must read for new and seasoned business owners alike. Also, check out this post Organizing for Growth from his blog .

In my next post I will address a few more of the deadly mistakes.  Please keep an eye out for it.

photo credit: laurenatclemson

Have you ever thought of starting an online business?  With the economy being the way it is, now is a great time to add another source of income to your household. Here are 10 simple tips to get you moving in the right direction.

Tip 1: Find at least 3 topics or items that you are passionate about and write them down.

I suggest doing this because this gives you a good reference point. You may change you mind later or modify your ideas but you need a starting point. Write these ideas down now.

Tip 2: Buy at least one book on online business marketing.

When I was starting out I purchased, Online Marketing Success Stories: Insider Secrets, from the Experts Who Are Making Millions on the Internet Today . I recommend this book because it gives you a good overview of the many ways of setting up an online business and it shows you some of the major players. Knowing the legitimate major players will help you weed out the frauds and the scams. This is extremely important in the online world because there are a lot of scammers out there.

Tip 3: Find a guru who is doing business online who communicates in a way that makes sense to you.

Be cautious with this because as I mentioned above, there are a lot of frauds and schemes out there. What I suggest is to find someone that is mentioned in one or two of the books you have picked up.  Also, look for written money back guarantees and low entry costs. Please do not spend a lot of money at this stage.  Buy only one of your guru’s products if they offer more than one. You want to see if this product makes sense before you spend a lot of money purchasing all of their wares.

Since I was interested in affiliate marketing I chose Roslind Garner’s ebook on Super Affiliates Click Here!. I found this to be an invaluable resource and guide to getting my online business set-up. It is over 200 pages and it walks you step by step through the process of setting up an online affiliate business on the cheap. I highly recommend it for those interested in the affiliate marketing online business model.

Another service I like is Ken Evoy’s Site Build it because it walks you through the whole process of setting up an ebusiness and gives you all of the tools to do it for one price. For someone who is new to online business, this is an excellent solution because they hold your hand through the process. I bought this
package and was very impressed with the help I received and the enthusiastic and helpful community that surrounds it. You owe it to yourself to check it out and make your own decision http://proof.sitesell.com/Success20091.html .

Tip 4: Don’t try to do this all in one day or even one week.

Take time to learn what you need to do and how to be successful. This is a business. If you are new to online marketing and new to entrepreneurship then there will be a learning curve. Be patient. Learn what it takes to be successful for the long term. This is not about getting quick money; it is about building another long-term revenue stream.

Tip 5: Using the information you have gathered write down your goals and your plans to move forward. 

Yes, I suggest that you develop some goals and write them down. You should have enough information from you chosen guru to put together some goals and plans for moving forward as well. One suggestion I would make here is to carefully consider costs.  It is very easy to spend a lot of money for tools that are supposed to help you build revenue. Instead, look for free resources. I suggest starting small so you can learn and then ramping up as you gain more knowledge and experience.

Tip 6: Get going.

Don’t procrastinate. Move forward. You can do it!

Tip 7: Apply the 80/20 rule to everything you are doing.

In other words, look for the key drivers. The 80/20 rule says that 20% of your efforts will give you 80% of your results.  You need to find the 20% and spend most of your time working on these priorities.

Tip 8: Be persistent but be realistic and flexible.

You will need to give this some time to work but it may mean you need to change certain things. Be open to change. Join online communities and see what others are saying and see where the online world is heading. Also, purchase other books about your chosen area of specialization. Life rewards life-long learners.

 Tip 9: Do not get involved with too many gurus.

One or two should be enough.  There are many formulas to be successful online. If you subscribe to the views of too many gurus you will end up confused and frustrated as you try different strategies. Pick a reputable guru whose strategy makes sense to you and stick with them until you really understand what you are doing.

Also, here is a very important point. Read the fine print on all the programs that you sign-up for. Just because your guru is reputable doesn’t mean that you shouldn’t check everything out. Read those terms and conditions statements. Know what you are getting into.

Tip 10: Share your knowledge.

Make sure you help someone else build his or her business in some way. When you help others you ultimately end up helping yourself as well.

Go ahead my friend. Get started today. Believe in yourself. You can do it!