Archive for the ‘Small Business and Personal Growth’ Category

Success In Small Business–It’s No Small Change

Tuesday, June 9th, 2009

To grow your small business and be successful you must expand your thinking.  After all, if your thinking never changes, then you will not be in control of creating your future.  Think about it.  If you don’t change then you will be constantly reacting to the changing business climate. 

That’s a tough way to do business.  You are always one step behind.  General Douglas McArthur, the famous World War II general once said that all defeat can be explained by two words, “too late.”  Too late in anticipating the problem.  Too late in preparing a plan of action.  And, too late in executing the plan. 

To have your small business successful you must embrace change.  If you don’t then it will run over you.  To this point I have talked about external success.  That is how success may appear to others.  Yet, true success is an inside job.  It starts within you, the business owner.  Embracing change is a successful performance strategy. 

Whether you are starting up your own business or running your own business all success starts within you, the business owner.  Here are four points to remember.

  1. Your past shapes, to an extent, who you are. 

 

  1. You determine who you become…..not circumstances, people or things.

 

  1. The best helping hand you have is at the end of your arm.

 

  1. Listen and learn  to focus

Here’s wishing you success and all the freedom and abundance life has to offer.

Referrals: Running Your Own Business In A Bad Economy

Thursday, June 4th, 2009

Very often I am asked:  “What can i do to imporve my business?  The economy isn’t good.  I have lsot customers.  It’s more difficult to find new prospects, customers or clients.”

Interestingly, while this is a harsh reality for many businesses, it is not for many others.  How come?  There a many reasons.  Much of the time it has to do with being in the right market niche when the economy turns sour.  But, this is circumstantial. 

To learn how to have a good business in spite of a bad economy look at the businesses, regardless of market niche that demonstrate “positive deviance. ”

What is positive deviance?  It is those businesses that are doing something positive that enables them to stand out from the competition regardless of the economy.  What are those positive things?  There are many points but I will focus on two things.

 

1.  Exceptional Customer Service

2.  Turning customers into advocates

These businesses are successful because they treat their clients and customers like first class passengers on their airline.  There customers do experience exceptional customer service.

And, they turn customers into advocates because they take their relationship beyond the initial transaction.  Part of a good marketing business plan is to add value to the relationship.  This may be done with a regular newsletter, cards or a follow up phone call. 

Small business growth and growing small business are not done by accident.  They are done by design.  In this design with exceptional customer service and deepening the relationship the business is able to generate referrals and do it consistently. 

How do you get referrals?  By turning your database of customers and clients into your sales force with exceptional customer service and adding value to the relationship.  This takes time and a consistent approach. 

Regardless of where your business is now you can start on this success process.  It is a winning performance strategy.  After all, you did start your small business to win.

Parasites That Can Suck The Life Out Of Small Business Success

Wednesday, May 27th, 2009

A parasite is an organism that invades the body of the host organism and ultimately sucks the life out the host, in most cases, causing it to die.  Too often, I have worked with business owners and professionals who have a good business but at the same time are stuck, overwhelmed or just plain unhappy. 

What’s holding them back?  You would think that it would be obvious.  It’s the parasites and they are not obvious.  If they were, we would never let them enter.  Whether you are starting up your own business or running your own business here are some things to look for. 

  1. Process parasites
  2. Relational parasites
  3. Thought parasites
  4. Client parasites

For this post let’s look at the first one, process parasites.  This refers to your process of doing business and the parasites are the things that need to be eliminated from your process to improve your business.  Are any of your methods causing you to have higher costs, greater inconvenience or adversely affecting your product or service?  Most of the time in small business there are things we can improve in the process. 

But to improve the process means to embrace change.  After all, the old way is the way things have always been done around here.  Why change?  As is said, “Don’t fix what isn’t broke”.  Sadly, the parasites in a business process have become tolerations. 

And, if you don’t develop the discipline of eliminating tolerations then guess what, you will keep adding them.  This is not a process for growing small business.  And, you will add them to the point where your business process and you will be a mess.  The small business growth and success you desire will be unattainable.

Look at your business process now.  Or, get someone to look at it for you.  To have the success you desire you must minimize or eliminate the tolerations.  After all, in owning your own business you have a choice when it comes to change.  You can either let it run over you or you can embrace it. 

Be in the habit of embracing change and you will be successful.   

After all if you have a good marketing business plan or a successful performance strategy for small business growth you should be doing well.  Maybe?

Multitasking And Its Deadly Effect On Small Business

Tuesday, May 19th, 2009

When most of us hear or say the word “multitasking” we think we are talking about a way to be more productive.  The truth is that “multitasking” makes us less productive and leads to burnout.  In fact, if you are seeking to grow your small business, you must be focused. 

Whether you are starting up your own business or running your own business multitasking is the opposite of focus.  It is about having several focal points at once.  The truth is that we cannot do several things at once.  In fact, studies have shown the human mind is only capable of doing one thing at a time.  We don’t multitask.  We switchtask.  And, every time we switch back and forth from one task to another there is a switching cost. 

Switching costs come as we have to momentarily review where we were at before we can start again.  And, the more complicated the task the higher the switching cost.  In fact it is estimated that the average worker loses 2.1 hours per day or over 8 hours per week in lost time by switch tasking. 

Even computers, where the term multitasking came from, do not multitask.  A processor, CPU, performs many tasks in sequence and can switch from one program to another very quickly that may make it appear to be multitasking.  The only way a computer can multitask if there is more than one processor.  This is sometimes called multiprocessing. 

Take a look at your business and your day.  To grow small business and to have a successful performance strategy you must focus your time.  If you don’t you will have too much going on and burnout.  Successful small business is about focus.  And when you lose focus you end up doing many things and few of them well. 

As a result your business and you will stagnate and fail.  If you want to learn more about multitasking I highly recommend the book by Dave Crenshaw, “The Myth of Multitasking”.  It is a short, quick and entertaining book that will give you some immediate insights on how to better utilize your time and move your small business forward. 

Owning your own business is a great challenge.  Start focusing and stop multitasking and the challenge will become more manageable and you will be more likely to succeed and much less likely to burnout and have the business fail.

Want To Start Your Own Business? How To Select Your Business

Monday, May 11th, 2009

One of the greatest challenges in starting your own business is to select the right business for you.  You may think that this is the easiest part.  What I have found from years of experience and hundreds of clients is that if you select the wrong business the rest really doesn’t matter. 

I have three free products to help you in this process.  That’s right.  They are free!  There are no strings attached.  I have a free audio mini course–The 10 Deadly Mistakes Entrepreneurs And Solo Professionals Make And How To Avoid Them.  There is second free course focusing on successful character in self-employment–Winning Character Traits.  And the third free course deals with a critical aspect to self-employment success–Winning Personal Development

Owning your own business is more than just a statement.  It is owning the investment, the systems and the emotions to make that business successful.  All three are critical to your success.  What I see most of the time is people getting into a business because they have had experience in that type of business. 

They usually bring one of two skills to the business.  They either know how to deliver or make the product or service.  Or, they know how to manage the business.  Very seldom, do they truly know how to do both.  They may think they know how to do both but the reality is that, more often than not, this is not the case.

Small business growth and to have your small business successful is about both delivering the product or service while doing a great job of managing.  It does not matter how good your marketing business plan is if you can’t give exceptional customer service in the quality and delivery of your product. 

Is selecting a business because you have experience in it wrong?  The general answer is no.  That is a good place to begin the selection process.  The key is to select a business that emphasizes your strengths.  And, if you are getting into something that does not make sense financially and whose systems have you doing things you don’t enjoy then the odds are that you will experience the negative emotion of unhappiness. 

And, unhappiness will lead to burnout.  Obviously, there are many things to consider when looking for a successful performance strategy in starting your own business.  Whether it is a bad economy or a good one, the key to your long term success, more often than not, is in the happiness that you feel. 

If you aren’t happy in your business it is like putting yourself in jail every day.  You only have so much time on this earth.  You might as well make it count by investing your money time and energy where you will be happy.  Check out my three free offerings.  They are free now but that will probably change.  Here’s wishing for you to have the freedom and abundance you desire.

Business Coaching–Is It For You?

Friday, May 8th, 2009

Is business coaching for you?  Whether you are starting up a business or running your own business the answer is….it depends.  What I want to do is to give you some things to think about as to whether small business coaching is right for you. 

Over years of experience and hundreds of clients I have found some things that they all have had in common. 

First, in owning your own business and to do it successfully, you must be open to change.  The first thing I determine is whether or not you are open to change.  Words about change come easily but I look behind the words to see if there is a history of action.  If there is then I will consider you as a potential client. 

Secondly, I determine if there has been a pattern of success in your business, or past businesses.  If you are in a position where your business is drowning you don’t need another life preserver, like coaching, thrown at you.    There is only so much you can grab onto when things are rough.  And, in this situation you are more likely to be focused on running your business by reaction to crisis as opposed to having and taking the time to work on yourself. 

The third aspect I look for is someone who is “successfully disatisfied”.  Are you enjoying some degree of success yet feel stuck or overwhelmed?  If you are having these feelings and want to be held accountable for your success then you may be a good candidate for business coaching. 

The fourth aspect to successful business coaching is:  Will you allow yourself to be held accountable?  This is the key.  If all the other things are in place yet you don’t want to be or won’t be held accountable, there isn’t much that can be done to help you.

The truth is that most small business owners practice self-accountability.  They remain in the same patterns that brought the challenges and problems they now face.  They will try one fix after another.  But, until they are held accountable for what they do and how they do it by someone else, such as a coach, nothing will change. 

If your business and life is not where you would like it then most likely you could use some outside accountability.  Without outside accountability you are operating on your business and yourself as if it was ”do it yourself heart surgery.”  And, you know what the results of “do it yourself heart surgery” are failure. 

Coaching is about being held accountable to create the pathways that you want to upgrade your business and life for greater success.

Good Economy? Bad Economy? Who You Are Determines How To Build A Successful Small Business

Thursday, April 23rd, 2009

Do you get tired of reading another ad or enticing offer telling you that you are a couple of mouse clicks away from making a fortune?  Personally, I find it very frustrating.  I have had numerous clients who have invested their time, which can’t be replaced, and their money, which most cases can be replaced, getting caught in the maze of finding the right business for them. 

Small business growth and success are about one thing:  Honoring Who You Are.  Let’s say that you are in a business that demands that you show up at a particular place every day.  It could be a retail business.  Yet, you thrive in an environment where you can get out and visit people.   The odds of being successful in that business are low. 

Why?  You are going to be unhappy.  You may earn good money for a while and enjoy it.  But, ultimately not doing something you truly enjoy will drain you and your relationships.  And, when you crash, in most cases so will the business. 

The business mortality rate is the same as it was 20 years ago.  If you want your small business successful, if you want more small business growth there is more education available than ever before.  Education from books is not the problem. 

I have observed that education about yourself is the challenge.  To often people pick a business where they are the round peg and they are trying to fit it into a square hole.  My wish for you is to increase the odds of your success.  Discover “who” you are.  Don’t jump into the maze that is the next golden opportunity. 

Once you really understand who you are and how to honor it in business then you are much more likely to recognize the businesses that will be a better fit and at which you are more likely to succeed.  I have two products that will help you in that process. 

I have developed these after 30 years of working with business owners and solo professionals and starting, owning and running several successful small businesses.

The first is my Progress Set Free E-Book

The Lost Keys To Small Business Success:

 

For Starting Your Own Business

Running Your Own Business

  .  The second is the Progress Set Free Home Study Course

The Keys And Steps To Small Business Success:  A Definitive Guide To A Better Business And A Better You

This is for those of you who are committed to knowing who you are in order to become more and have more. 

Regardless which one you choose, the key to success is to get started in making more and better choices when it comes to you and your business. 

Get to know yourself and get out of the maze of trying to find the business that is right for you.   You must get to know yourself.  InterestAfter all, is it going to make any more sense tomorrow than it does today to take the steps to having the business and life you desire?

Successful Small Business In A Bad Economy–Check the Five Inches Between Your Ears

Monday, April 20th, 2009

With the numerous businesses and business owners I have worked with over the years there is one thing all of the successful ones have done.  They have embraced change.  To have your small business successful, you must embrace change or you will be run over by it. 

If you are serious about yourself and the success of your small business then you must be an active participant in change.  Look at the businesses that once were thriving but are no longer around.  With this in mind, I have put together several products that are designed to support you in creating your own successful performance strategy.

A good marketing business plan that recognizes change and embraces it can make an entrepreneur successful.  Do you want to be that entrepreneur?  Are you willing to learn the steps to success? 

All progress starts with those 5 inches between your ears.  What the mind can conceive and believe it can achieve.  How are you feeding your mind?

If you change your thinking you will change your habits.  Change your habits and you will change your activity.  Change your activity and you will change your results.  Change your results and you will change your life. 

If you are COMMITTED to change and taking yourself and your business forward, take a look at the following:

1.  Progress Set Free E-Book–The Lost Keys To Small Business Success–This will get you started on the process of change. 

2.  Progress Set Free Home Study Course–The Keys And Steps To Small Business Success:  A    Definitive Guide To A Better Business And A Better You.  This course goes in depth and is for those who are truly serious about their success.  This course can help you create pathways to upgrade your business and your life.

3.  Progress Set Free–Free Audio Mini Course–Imprisoned By Progress and The Treadmill Philosophy–The 10 Deadly Mistakes Entrepreneurs and Solo Professionals Make And How To Avoid Them.  This audio series provides short audio clips with stories that discuss common challenges the business owner faces in starting up a small business or running a small business.

Whether you are running your business in a bad economy or a good one, change is the key to success.  Make a number of small changes and it will lead to the bigger changes you desire.

Small Business Success: Dealing With Elephants Under The Carpet Part 2

Wednesday, April 15th, 2009

In the last post we looked at the “people plan” and how a lack of it can be an “elephant under the carpet” that could cause a successful business to fail.  Making your small business successful has several components.  Not only must you have a people plan but you must have “good processes”.

You may be saying at this point, this doesn’t sound very interesting.  I have watched small businesses grow, be successful and fail because the processes for doing business or how to approach business for continued growth were never addressed. 

 Lack of good processes is the second “elephant under the carpet.”How come they were never addressed?

You will hear phrases such as, “If it ain’t broke don’t fix it.  That’s the way it’s always been done around here.”  There is one constant and that is change.  You either must embrace it, or it will run over you. 

A good example is a business that starts out using contract labor.  It needs help periodically with certain jobs or tasks.  Independent contractors are a great way to do this.  The business grows and now it is demanding most, if not all of the working time of an independent contractor.  In fact, it is dictating hours and other things. 

Much as you may not want to, it is time to switch these people to employees.  Yes, it is more costly.  But, I can assure you, the cost is much higher if you don’t switch.  Yes, there are industries where independent contractors are standard practice.  But, there are many where they are not and I have watched many businesses operate under the illusion that somehow they will fly under the radar.

To have your small business successful, it is important that you get into the right process for doing things.  Pay your people as they should be paid.  You may save money in the present by treating them as contractors but you can easily lose your business in the end when the IR S comes knocking on your door. 

All it takes is one disgruntled independent contractor to start the process that could do you in.  In owning your own business and running your own business having good processes is critical to your success. 

Think about this.  You have good people.  You put them in a bad process or one that makes the business extremely vulnerable and what do you get?  You get bad or disastrous results.  To have a successful performance strategy address those “elephants under the carpet” that have to do with your processes. 

Do that and do it regularly and you will have a greater likelihood of having a more secure and prosperous business.

Small Business Success: Dealing With Your Elephants Under The Carpet

Tuesday, April 7th, 2009

One of the concerns of most small businesses for the first few years is failure.  One of the interesting things is, even if a business is successful, the fear of failure can be huge.  Why is it when things are going well and cash flow is good would you be concerned about failure?

There are many answers but I would like to focus on one of the things I see in my practice as relates to failure.  In running your own business you can get caught up in the “doing” and let some “elephants under the carpet” develop.  A good example of an elephant under the carpet would be starting a business with partners and not having a buy-sell agreement and/or key man insurance.

When a person who is a significant contributor or a necessary part of the foundation of a business dies or suddenly becomes disabled it can be disastrous for the the business.  One of the keys to success in owning your own business is to make the business bigger than you or the key people.  The sooner you do that the better off you and the business will be.  If something happens to you where you are sick for and extended period of time, or disabled, then at least your business will be able to provide for you and those who are involved with it.

How come business owners put themselves in this situation?  They never get a vision of the business being bigger than themselves.  Somehow everything is going to work out.  Unfortunately, life has a way of throwing us some pretty big challenges.  Challenges that are unexpected.

The first step to small business growth and having a successful performance strategy is to have a clear vision and plan when it comes to people.  Be ready for the unexpected.  If you have a corporation make sure you have an exit strategy.  If someone isn’t working out and wants out it is best to have an agreement up front as to what the terms are. 

If you do that then you won’t, as a rule, be subject to expensive litigation.  And, I can assure you, litigation is one of the quickest ways to kill a small business.  Regardless of where your business is now it is critical to  create a “people plan” and address those “elephants under the carpet”. 

When you have your people plan not only will you feel better, but your business will be more secure.  You will give the gift of certainty to the people who work with you and support you.  And, you will be demonstrating leadership by showing you are concerned about their welfare by creating a more stable and predictable environment in case life does throw one of those big challenges your way.