Continuing with the idea of providing quick notes on business inspirations you may find this Tip of the Week from Beltway Networking by Angie Segal of Action Coach worth the read….

Don’t Fear Failure

 “I can accept failure.  Everyone fails at something.  But, I can’t accept not trying.” Michael Jordan, NBA Legend.

Is fear of failure holding you back from having great successes?  Many of the greatest success stories have had many failures.  Thomas Edison tried over 1000 times to create the light bulb, Tony Robbins lived in his car at one point, and there are many more examples.  You can only achieve greatness by getting out there and trying.

What is one thing you would do in your business that you are not doing now that you would do if you knew you could not fail?

 Why not get out there and try it today?

What do you really have to lose by not trying it?

Good luck!

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Business Tip of the Week is brought to you by Angie Segal of Action Coach.  Visit her website to learn more about Action Coach.

While hunting on the intenet to find yet another good business tip I found the following tip that I believe you will be pleased to have on your mind today….

Own the Elevator

Know your 30- to 60-second pitch COLD. Be able to explain quickly, clearly and with passion what you do, why it’s valuable and how people can get in touch with you for more information. You never know who your next client is going to be, or when and where you’ll encounter them! Continue Reading.

Another great business tip discovered at Creative Web Group.

Biz Tip of the Day

Instead of looking at how large a project is, start doing it and before you now it, it’s done. What’s that old saying “The longest journey begins with the first step”. Or, for the youngsters in the crowd, how about Nike’s “Just Do It!”

Continuing with my campaign to provide great business tips I went to Open Forum on the internet and found the following article by Ivana Taylor. Though she wrote and published this in December of 2009 her counseling is relevant today as well as back in December.  I believe you will find her article of interest and helpful.

10 Must-Do Marketing Tips for 2010

One of the most common questions I get asked is what marketing activities pack the most punch when there are so many to choose from?  If you’ve been asking yourself that same question, then you’re in luck.  I’ve pulled my most popular tips for small business owners right here:

1. Get on Your Soapbox:  A solid brand position is rooted in a passionate commitment to the customer.  What do you believe about your industry, product or service?  What possibilities are you creating for your customer?  What’s your customer’s burning issue and in what ways does your company solve it.  Get on your soapbox, speak and write passionately about it and your ideal customer will be drawn to the message.

2. Update Your Site and Start a blog:  If it’s been more than three years since you’ve updated your site – it’s time to take a fresh look.  Have you started a blog?  These days, web sites and blogs are almost interchangeable.  They can be hosted for free and often come with free high-end design templates that only require you to write content.  Look at your web site and blog as free or low-cost advertising to your prospects and customers.  Use the blog to tell them about the latest new products or services.  Have you solved a customer or technical problem – share your experience on the blog?   Customers will love the extra information.  Prospects will have reasons to choose you.

3. Create a social media policy: Social media is not a fad any more.  It’s time to stop experimenting and start managing your social media strategy.  Create a policy around social media, even if you’re only a one-person operation.  Your social media policy should include your objectives for each site and any rules you have around posts, articles, pictures, etc.  Creating this policy will eliminate employee confusion, problems and PR and potential digital reputation management nightmares.

4. Build and Combine Lists:  You probably have some kind of customer list (or three) lying around.  This is the year to combine these names into a single customer list.  Start with a basic spreadsheet and then start grouping your customers into segments or categories.  Now do the same with your prospects.  Having one, updated master list will make communicating with customers fast and easy.

5. Market Directly:  Why spend thousands of dollars on advertising that you can’t control?  If you know where you customers live, you can reach out to them personally and directly.  You’ll find your marketing spending power double or triple by simply diverting your advertising dollars to direct marketing.

6. Do Videos: If you have a product or service that shines in demo mode, then videos are an ideal and cost-effective marketing tool for you.  Open a corporate YouTube account and upload demos and live presentations for your prospects to find and customers to access. 

7. Productize Your Services:  It’s much easier to understand and purchase something that looks like a product.  Notice that even software downloads or e-books actually look like a tangible product so that people can have a sense of what they are purchasing.  Turn your service into a product by giving it a name, describing your process as a specification and then charging a flat rate instead of by the hour.  You’ll find that it’s easier to sell, easier to buy and more profitable for your business.

8. Mobile Marketing:  Globally twice as many people use text messaging than e-mail.  Chances are your customers interact more with their PDA than they do with their computer.  Mobile Marketing Programs allow your customer to opt-in and request certain kinds of messages and updates from you.  If you’re a restaurant, use mobile marketing to update customers on specials.  Mobile marketing is currently a wide open space. Use it to market to hard-to-reach customers.

9. Referral system: Stop treating referrals like a happy accident.  Run a referral program that includes regular meetings with people who agree to enthusiastically refer you.  Start by creating a referral guideline that outlines what sets your business apart, profiles your ideal customer and describes what they might say that should trigger a referral to you.  Put your focus on attracting “Centers of Influence” and “trusted advisors” who will refer you to their clients and customers.  It’s like having a free salesforce!

10. Focus on Ideal Customers: Decide to only work with profitable customers.  Identify customers who are happy with what you offer and refer you.  Profile them in detail; what’s important to them, what are their 7 biggest frustrations?  Outline in what ways your company gives them what’s important and eases their frustrations.  Now go get more customers just like that.

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About the Author: Ivana Taylor is CEO of Third Force, a strategic firm that helps small businesses get and keep their ideal customer.  She’s the co-author of the book “Excel for Marketing Managers” and proprietor of DIYMarketers, a site for in-house marketers.  Her blog is Strategy Stew.

SCORE Tip of the Day

Always keep learning. An open and curious mind is a must in today’s fast economy.

We may agree that much of today’s society is run on the ‘quick’ mind set. With this in mind I started a search for ‘tips’ that would be useful for people wanting to start a business or are already in a business or for people in general who want to organize the structure of their lives more efficiently. For the next few posts I will share with you my findings….today’s “Tips” come from SCORE. In fact today’s tip is actually like a table of contents. 

If any of these areas are of interest to you I suggest you then proceed to www.score.org/business_tips.html

The following is the second half of the article found on ‘Money Instructor.com’ that I feel helps us all keep it simple making follow through much easier….enjoy…

START SMALL

Kids should not try to do everything from the start.  Start small and have the child test the business on a few potential clients.  Then check the results, and adjust the strategy if necessary.

MARKETING

Your child will likely need to do some form of advertising for the business.  Handing out flyers to prospective customers is one way to advertise.  Mom and Dad may also know people who are prospective customers.  Word of mouth is a great form of advertisement.  If your child does a great job, others will find out and seek them out.

FINANCIALS

Is the business making a profit?  They will need to understand that the business must make a profit at some point, unless the strategy is a charitable one.  Remember, revenues minus expenses equals profit.

EVALUATION

So how is the business going?  Is it making a profit?  Is it matching the goals set in the business plan?  Is the profit worth the time and effort involved in running the business?  Is it taking away from studying?  These are all questions that must be regularly be asked.

ENCOURAGEMENT

Finally, be sure to give your child lots of encouragement as they begin their business.  Remind them that lots of very successful businesses were created by people that failed their first few times.  No matter what, learning new experiences, such as starting a business, will help prepare them for the future.

I have heard over the years “Explain it to me like I was a kid.” Must have made an impression on me since throughout my career as an educator I have used this particular concept often. Therefore I was struck with the realization that I have not done so yet with my posts and that maybe such an approach might do well at this time. With that enjoy the next two articles based on article I found on ‘Money Instructor.com’ Not sure who wrote it but I enjoyed it and think you will also…..

KIDS STARTING A BUSINESS

Starting a business is a great way for kids to learn real life skills and build confidence.

To help your child’s success, have them follow the basic steps involved in starting a business by business professionals listed below.  That will give them greater confidence and a better understanding of what they will need to do be a successful young entrepreneur.

Also, along with running a business, your child will need to understand some basic business math. 

BUSINESS PLAN – SETTING REALISTIC GOALS

Every new business should start with a business plan.  What are the objectives of the business?  The business should have a mission statement explaining what the business is trying to accomplish.  Also, the goals should be realistic.  How will your child make money?  What will be the costs?  How much time will be needed.  Will the business interfere with other aspects of his or her life, such as school, or after school activities?

Part of the business plan should include market research. Have your child study the market to see if there actually is a need for the product or service they plan on selling.  Survey potential customers to see if they might be interested, and also how much they would be willing to pay.  The more expensive it is to start the business, both in terms of money and time, the more important it is that your child do market research.

Does your child have the necessary financial resources to start the business?  If not, would you be willing to lend the money?  Let them know that if they are serious, and can put together a credible business plan, then you may be more willing to fund their new start-up

PREPARATION

What skills will be necessary for the business?  Does your child have these skills?  If not, what type of training might be required?  Information on learning different skills may be found on the internet, or at your local library.  Friends and family are also a great resource.  If possible, study the business from others who have done something similar.

SAFETY

Safety should always be the top priority, so your child should check with you regarding any businesses they are considering.  This also includes always knowing where your child will be.  For example, businesses where your child needs to go door to door in unfamiliar neighborhoods should be avoided.  Children should also stick to age appropriate activities.

Wonder why you may be concerned about your state of financial wealth. If we are about the Lord’s work then would the sound assumption be that resources should be plentiful? Seeing that we are keeping His word and the scriptures back such an assumption I for one would be expecting great resources pouring into your life.. So why are so many of us concerned? We can not rationalize away from the Truth. Then why are we here on this page of a website? This may be the first point we need to ponder and resolve.

Over the weekend I heard my good friend Rev. Lawrence Jones preach on the subject of ‘Attitude’ through the stories of Daniel and Esther in the hope of having us all stand up tall so as to walk and talk with ‘attitude.’ Daniel’s attitude was such that by the time he was being tossed into the lions’ den the King was the one who said that Daniel’s God would protect him….it was the King who tossed and turned all night and ran to the den in the morning to check on Daniel. Esther took up the responsibility of doing the Lord’s work with ‘attitude’ as well. As we today are called upon to walk and talk with ‘attitude.’ We will be the ‘peculiar’ people. We know that our Lord wants us to live in prosperity. This is His plan. He wants us to have the wealth as part of His plan. Therefore we are to take on the ‘attitude’ that His wealth is our wealth for His purpose and in this we are to gather up as much as possible for His plan. So whatever is out there that will bring you wealth search it out. Accept it as part of His plan. Gather in what you can for we will be asked to do something great with His wealth….and it will be done with us or with someone else.