As a small business owner, you may feel that the outlook of your business’s existence may be bleak. The thought, “If the big businesses are suffering, there’s no way my business can survive,” just may have crossed your mind several or more times. Nevertheless, as a small business, you’re use to making a way out of no way, that’s how all businesses begin.
The saying goes, “less is more,” use this to your advantage. Because you are a small business, you don’t have as many employees, you don’t have lots and lots of stores, thus not having lots and lots of overhead. You didn’t start your business to please every consumer around the world. You started your business to reach a target market; at least I hope you did, if you did that business plan.
You probably don’t have shareholders, CEOs and CFOs to answer to. You’re the boss. You make the final decisions.
As the boss, how will you compete in this market? By working your assets! It’s estimated that 20% of your customers account for 80% of your revenue. If so, how do you make sure that you are securing that income?
Asset Appreciation:
1. You know your customers (over generations), provide excellent one on one personal customer service.
2. Thank your customers by sending personal notes.
3. Start a rewards program, keeps customers coming back.
4. Give your customers freebies when they come in.
5. Use your customers as your test market audience for new products. You want to cater to their needs as well as have them feel apart of your growing organizations
6. Customer appreciation day, where they receive a percentage off merchandise.
7. Private shopping days, provide snacks and personal shoppers, schedule the personal shopping times.
8. Create a website to promote products or services you can provide from where you are with no additional cost to your business. Thus, expanding your target customer base from where you are to everywhere you want to be.
You started your business knowing you were going to be in completion with the “big dogs”. You were not intimated by their success, so don’t be intimated by their failure. Sure, if they are more successful, that’s a good indicator that there is a large consumer base for that product or service and plenty of money to be shared by all. But with the economy in shambles and people tightening their pockets, the need to make people feel important and not like another number is your niche.
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Showing posts with label entrepreneur. Show all posts
Showing posts with label entrepreneur. Show all posts
You have a Dream!
You have a dream, a goal, and a passion for owning your business. You have the idea and you are ready to roll. The one and only problem is that you do not have the experience or “know how” to get that idea off the ground.
There is accounting you don’t understand. A business plan you need to write. And marketing to grow your business.
Taking one or more non-credit continuing education class may be the answer to all your dreams. “What are non-credit continuing education classes?” you ask. They are courses that are designed to teach you a skill or provide information on a certain topic.
Numerous non-credit continuing education courses are offered at you local community college or university. To locate that department at the college, they may be listed under adult education, workforce development, community education or lifelong learning, to name a few. Also, check your mail, often times, the community college sends out a catalogue of the course offerings.
Unlike most credit courses offered through colleges and universities, non-credit continuing education courses are offered in the evenings and weekends. This makes it convenient for the learner who hasn’t exactly quit their day job in hopes of living out their entrepreneur dream. In addition, with today’s technology, you can go on-line and take a course on your time schedule.
Depending on the topic covered, a course can be a one day class covering a span of two hours. On the other hand, the class can meet up to twice a week, two hours per session covering a span of four weeks. Nevertheless, most classes seem to be a few hours, once a week from four to maybe six weeks.
The cost of a course can range from as little as, free, to upwards of a little over $1,000. However, this is looking at the extreme range. Classes that are more technical and lead to certifications are usually more expensive. On average, most classes are under $100.
As previously stated, these classes are non-credit. This means that you will not receive any college credit upon completion of the course. Therefore, there is no need to worry about grades or essay exams. Whew!
However, just because these courses are non-credit and there are no grades, does not mean you will not learn from the best. Industry professionals teach the courses. Meaning you will gain valuable years of their expertise in a short time, thus reducing the amount of trial and error mistakes many new business owners face.
Now armed with your idea and ready with knowledge from your non-credit continuing education course, you are ready to pursue your American dream!
There is accounting you don’t understand. A business plan you need to write. And marketing to grow your business.
Taking one or more non-credit continuing education class may be the answer to all your dreams. “What are non-credit continuing education classes?” you ask. They are courses that are designed to teach you a skill or provide information on a certain topic.
Numerous non-credit continuing education courses are offered at you local community college or university. To locate that department at the college, they may be listed under adult education, workforce development, community education or lifelong learning, to name a few. Also, check your mail, often times, the community college sends out a catalogue of the course offerings.
Unlike most credit courses offered through colleges and universities, non-credit continuing education courses are offered in the evenings and weekends. This makes it convenient for the learner who hasn’t exactly quit their day job in hopes of living out their entrepreneur dream. In addition, with today’s technology, you can go on-line and take a course on your time schedule.
Depending on the topic covered, a course can be a one day class covering a span of two hours. On the other hand, the class can meet up to twice a week, two hours per session covering a span of four weeks. Nevertheless, most classes seem to be a few hours, once a week from four to maybe six weeks.
The cost of a course can range from as little as, free, to upwards of a little over $1,000. However, this is looking at the extreme range. Classes that are more technical and lead to certifications are usually more expensive. On average, most classes are under $100.
As previously stated, these classes are non-credit. This means that you will not receive any college credit upon completion of the course. Therefore, there is no need to worry about grades or essay exams. Whew!
However, just because these courses are non-credit and there are no grades, does not mean you will not learn from the best. Industry professionals teach the courses. Meaning you will gain valuable years of their expertise in a short time, thus reducing the amount of trial and error mistakes many new business owners face.
Now armed with your idea and ready with knowledge from your non-credit continuing education course, you are ready to pursue your American dream!
Posted by
Ciara Wimby
at
Thursday, October 16, 2008
Unemployment Strikes Back!
Unemployment has the ability to, unintentionally, bring the best out of an individual.
Huh?
While vacationing on Unemployment Island, you sip on a tall glass of what to do next, garnished with how in the hell will I do this. As you drink down your last gulp and remove the I don’t know what to do umbrella from the glass and stick it behind your ear, you have an idea. That’s right - it’s time to reinvent yourself.
Reinventing yourself forces you to take a hard look at what you bring and what you don’t bring to the table. People, in general, love to look at the good and ignore the lacking. However, it’s knowing what you lack and growing that area is what will bring the best out of what you already got.
Besides looking for another job, another avenue is to create your own j.o.b. by starting a business. While this option is just as or even more challenging than finding a job, it can lead you to a feeling of finally having control over the direction of your career. A feeling of control, also leads to a sense of security, thus leading to success.
Did you know small businesses?
• Account for 99.7 percent of all employer firms in the United States.
• Employ half of all private sector employees.
• Have generated 60 to 80 percent of net new jobs annually over the last decade.
And, yes, it’s true, just as many small businesses exit each year, just as there are ones that enter. That can make starting a new business seem daunting in the beginning, the middle, and all the way up to I’m finally making some money to pay my bills.
Think about the benefits!
• Stretching your abilities to a completely new level - reinventing.
• Control over your destiny.
• Creating something from nothing.
Along with the other greater, than great reasons, you will also be contributing to adding one (yourself) or more (possible employees/partners) person(s) back to the great land of employment. You could also make a huge contribution to society with not only your service or products, but to our economic growth, thereby eliminating unemployment, one person at a time.
Huh?
While vacationing on Unemployment Island, you sip on a tall glass of what to do next, garnished with how in the hell will I do this. As you drink down your last gulp and remove the I don’t know what to do umbrella from the glass and stick it behind your ear, you have an idea. That’s right - it’s time to reinvent yourself.
Reinventing yourself forces you to take a hard look at what you bring and what you don’t bring to the table. People, in general, love to look at the good and ignore the lacking. However, it’s knowing what you lack and growing that area is what will bring the best out of what you already got.
Besides looking for another job, another avenue is to create your own j.o.b. by starting a business. While this option is just as or even more challenging than finding a job, it can lead you to a feeling of finally having control over the direction of your career. A feeling of control, also leads to a sense of security, thus leading to success.
Did you know small businesses?
• Account for 99.7 percent of all employer firms in the United States.
• Employ half of all private sector employees.
• Have generated 60 to 80 percent of net new jobs annually over the last decade.
And, yes, it’s true, just as many small businesses exit each year, just as there are ones that enter. That can make starting a new business seem daunting in the beginning, the middle, and all the way up to I’m finally making some money to pay my bills.
Think about the benefits!
• Stretching your abilities to a completely new level - reinventing.
• Control over your destiny.
• Creating something from nothing.
Along with the other greater, than great reasons, you will also be contributing to adding one (yourself) or more (possible employees/partners) person(s) back to the great land of employment. You could also make a huge contribution to society with not only your service or products, but to our economic growth, thereby eliminating unemployment, one person at a time.
Posted by
Ciara Wimby
at
Wednesday, October 15, 2008
Wonder Twins - Unite!
You have an expertise in blah, blah. You have a friend, relative, colleague who has a different expertise in blah, blah and blah. Join your super powers together and unite!
As you start marketing your service or product, tell your future investors or customers of the other services or products that may interest them. No, you don’t provide them yourself, but this is a chance to:
a) Get your foot in the door because you offer more than one product or service.
b) Help someone else get a foot in the door.
c) Market to a wider audience.
d) Use one another’s resources and contacts (Hook a brother up!).
You can still be an independent consultant or business. You just enlist other’s to provide additional products or services to your bottom line.
You own a small business, like a hair salon or grocery store. It’s time to work with your competitor, not against them. Purchasing supplies can be a large expense for the one small business. As there is power in numbers, all the small businesses (in your industry or out your industry) that purchase similar products, learn to buy in bulk!
I know, I know, you’re thinking, if we work together, how are we going to out price one another? Well, this is where your individual store’s creativity comes in. Don’t use price as your only means of drawing customers.
There are several office supply stores in my area, OfficeMax, Office Depot and Staples. The stores try to stay competitive in pricing. However, I predominately shop at Office Depot. I like the set up better. Even though my stepson works at OfficeMax, where I could use his discount, I’d still rather go to Office Depot. The set up is also a reason why more people like Costco better than they like Sam’s Club.
Differentiate yourself by the unique qualities of your store. How can you appeal to customers, while selling the same products with the same price as your competitors? Is your staff friendly, more knowledgeable? Do you offer coupons? Are you involved with the community?
Make them love you, not necessarily the product or services you offer. Because if they like doing business with you, they’ll come back, forgetting your competitors. And the same is true with your competitor’s customers – everyone isn’t going to like you.
Your main concern shouldn’t be about undercutting your competitor’s price. Rather, it should be about going out of business because you cannot survive in this recession alone. Moreover, if worse comes to worse, you may want to, even possibly, just throwing it out there, unite as one company that has two or more locations.
Times are hard and the appearance is that they may get even harder before they get better. Nevertheless, if you can find a way to get through the hard times, you will have even more confidence that you can weather it through until the good times to come. However, we are all going to have to work together. Wonder Twins – Unite!
As you start marketing your service or product, tell your future investors or customers of the other services or products that may interest them. No, you don’t provide them yourself, but this is a chance to:
a) Get your foot in the door because you offer more than one product or service.
b) Help someone else get a foot in the door.
c) Market to a wider audience.
d) Use one another’s resources and contacts (Hook a brother up!).
You can still be an independent consultant or business. You just enlist other’s to provide additional products or services to your bottom line.
You own a small business, like a hair salon or grocery store. It’s time to work with your competitor, not against them. Purchasing supplies can be a large expense for the one small business. As there is power in numbers, all the small businesses (in your industry or out your industry) that purchase similar products, learn to buy in bulk!
I know, I know, you’re thinking, if we work together, how are we going to out price one another? Well, this is where your individual store’s creativity comes in. Don’t use price as your only means of drawing customers.
There are several office supply stores in my area, OfficeMax, Office Depot and Staples. The stores try to stay competitive in pricing. However, I predominately shop at Office Depot. I like the set up better. Even though my stepson works at OfficeMax, where I could use his discount, I’d still rather go to Office Depot. The set up is also a reason why more people like Costco better than they like Sam’s Club.
Differentiate yourself by the unique qualities of your store. How can you appeal to customers, while selling the same products with the same price as your competitors? Is your staff friendly, more knowledgeable? Do you offer coupons? Are you involved with the community?
Make them love you, not necessarily the product or services you offer. Because if they like doing business with you, they’ll come back, forgetting your competitors. And the same is true with your competitor’s customers – everyone isn’t going to like you.
Your main concern shouldn’t be about undercutting your competitor’s price. Rather, it should be about going out of business because you cannot survive in this recession alone. Moreover, if worse comes to worse, you may want to, even possibly, just throwing it out there, unite as one company that has two or more locations.
Times are hard and the appearance is that they may get even harder before they get better. Nevertheless, if you can find a way to get through the hard times, you will have even more confidence that you can weather it through until the good times to come. However, we are all going to have to work together. Wonder Twins – Unite!
Posted by
Ciara Wimby
at
Wednesday, October 08, 2008
What’s In It For You?
You hear it on the radio and TV. You read in the papers and on the internet. We have been engulfed by a financial crisis. You see financial analyst and investment analyst everywhere telling you how the financial uproar is affecting you, personally. They say everything from, don’t panic and pull your money out of the banks, to this is a great time to invest – buy, buy, buy!
While some people are facing unemployment and foreclosure, there are also some people who are financially stable that will weather the storm. Whichever state of affairs you reside in be grateful. Know that in either case, this financial crisis may afford you the best opportunity yet.
Companies are folding, downsizing and losing market share. Companies are going to have to rely on fewer people to perform more amounts of work. So, what’s in it for you?
Still employed? Take this opportunity to take on additional responsibilities in your area of interest. For example, you’re in the accounting department, but want to transition to the marketing department, see where you can help. This will start you on your path of getting experience in your field of interest and make a way for you to begin easing into your dream career.
Employed or not employed? Expand! Use this employment downsizing to market your skills to other companies who may not be able to afford full-time staff with benefits, but need your area of expertise. Outsource your expertise (ex. marketing, accounting or human resources) to companies by consulting full-time, part-time or contractual. You’ll help them save money, but still get the company’s needs met, and you’ll become an independent consultant making extra part-time money or create a new job for yourself.
Consulting is really my disguise to tell you to start your own business! Think about the needs of the people and businesses today. What are their needs? Is there any business currently meeting this need? How can you meet their needs?
Have a small business? Use this opportunity to grow, grow, grow. As a small business, many times, you are faced with needing additional human capital with expertise in a certain field, like, accountants or bookkeepers. The downside is that you don’t usually have enough monetary capital to make it happen. Here’s your opportunity to help and be helped! Take on an employee that doesn’t have much experience, but has passion, enthusiasm and confidence that they can get the job done. Rather it’s a non-paid, minimally paid or bartering form of payment, you will help fill your needs while helping someone transition into their dream career, gain more experience or will lead to paid employment. As your business does well and you make more money, pay them, and if you like their work refer them to as many people as you can, so they can make more money, as well.
So don’t panic, invest. Invest in yourself. You can no longer continue to allow big businesses to have the control and power of your destiny. You have talent, skills and experience. Use them. Get in where you fit in.
While some people are facing unemployment and foreclosure, there are also some people who are financially stable that will weather the storm. Whichever state of affairs you reside in be grateful. Know that in either case, this financial crisis may afford you the best opportunity yet.
Companies are folding, downsizing and losing market share. Companies are going to have to rely on fewer people to perform more amounts of work. So, what’s in it for you?
Still employed? Take this opportunity to take on additional responsibilities in your area of interest. For example, you’re in the accounting department, but want to transition to the marketing department, see where you can help. This will start you on your path of getting experience in your field of interest and make a way for you to begin easing into your dream career.
Employed or not employed? Expand! Use this employment downsizing to market your skills to other companies who may not be able to afford full-time staff with benefits, but need your area of expertise. Outsource your expertise (ex. marketing, accounting or human resources) to companies by consulting full-time, part-time or contractual. You’ll help them save money, but still get the company’s needs met, and you’ll become an independent consultant making extra part-time money or create a new job for yourself.
Consulting is really my disguise to tell you to start your own business! Think about the needs of the people and businesses today. What are their needs? Is there any business currently meeting this need? How can you meet their needs?
Have a small business? Use this opportunity to grow, grow, grow. As a small business, many times, you are faced with needing additional human capital with expertise in a certain field, like, accountants or bookkeepers. The downside is that you don’t usually have enough monetary capital to make it happen. Here’s your opportunity to help and be helped! Take on an employee that doesn’t have much experience, but has passion, enthusiasm and confidence that they can get the job done. Rather it’s a non-paid, minimally paid or bartering form of payment, you will help fill your needs while helping someone transition into their dream career, gain more experience or will lead to paid employment. As your business does well and you make more money, pay them, and if you like their work refer them to as many people as you can, so they can make more money, as well.
So don’t panic, invest. Invest in yourself. You can no longer continue to allow big businesses to have the control and power of your destiny. You have talent, skills and experience. Use them. Get in where you fit in.
Posted by
Ciara Wimby
at
Tuesday, October 07, 2008
You are a Business
For an individual, finding the right job is equal to a business finding the right customer.
Think of yourself as a business entity. Businesses provide products or services to its customers. However, they have to supply the customers with products or services that will fulfill the customer’s needs.
You are a product or service. The job you are searching for is your customer. It is your focus to fill a job vacancy with a skilled employee, who will in turn fulfill the employer’s needs.
In starting a business, hopeful entrepreneurs have an idea for a product or service. They create a business plan from information they have gathered from market research about:
target customer base
competition
unique selling advantage
experience or knowledge of the industry
product or service pricing
expenditures
financial growth
As you are to look at yourself as a business, you too need to create a plan. You need to create a career plan where you gather information to research:
Target Customer Base: Research employers that have positions that fit the type of job you want to perform. For example, if you want to be a chef research hotels, restaurants or businesses that have cafeterias.
Competition: Review job duties and qualifications for the targeted companies. What are they looking for? Make sure you have all the minimum requirements, so that you are on the same level as your competitors. If not, find a way to minimize anything that may throw you out the game.
Unique Selling Advantage: What makes you stand out from your competitors who are looking for the same job? What makes you a more desirable candidate based off skills, experience or education and that extra that another candidate might not have.
Experience or Knowledge of the Industry: Research the industry. Make sure you are well informed about any developments that affect the industry, thus having an affect on the level of job opportunities that are available. For example, the health field is hot and they are always looking for nurses.
Product or Service Pricing: Know your worth. However, more importantly research the salary range for the position you are applying for. So when you negotiate a salary, you aren’t going to price yourself above or below the going rate.
Expenditures: Know your personal expenses. Make sure you accept a position that will be able to cover your needs.
Financial Growth: Again, in researching the salary range for the position, it will also help you find out the growth potential with this career. Maybe there are small incremental growth rates with years of experience or there are huge growth rates. Find out what other education or skills you will need to acquire to consciously increase your income, also know in business as expanding your product or service line.
This may seem like a lot of work, and it is. However, it will help you narrow your job search to exactly what you want, instead of being all over the board. It helps you focus on your target market and supply them with the type employee they are looking for – you!
Think of yourself as a business entity. Businesses provide products or services to its customers. However, they have to supply the customers with products or services that will fulfill the customer’s needs.
You are a product or service. The job you are searching for is your customer. It is your focus to fill a job vacancy with a skilled employee, who will in turn fulfill the employer’s needs.
In starting a business, hopeful entrepreneurs have an idea for a product or service. They create a business plan from information they have gathered from market research about:
target customer base
competition
unique selling advantage
experience or knowledge of the industry
product or service pricing
expenditures
financial growth
As you are to look at yourself as a business, you too need to create a plan. You need to create a career plan where you gather information to research:
Target Customer Base: Research employers that have positions that fit the type of job you want to perform. For example, if you want to be a chef research hotels, restaurants or businesses that have cafeterias.
Competition: Review job duties and qualifications for the targeted companies. What are they looking for? Make sure you have all the minimum requirements, so that you are on the same level as your competitors. If not, find a way to minimize anything that may throw you out the game.
Unique Selling Advantage: What makes you stand out from your competitors who are looking for the same job? What makes you a more desirable candidate based off skills, experience or education and that extra that another candidate might not have.
Experience or Knowledge of the Industry: Research the industry. Make sure you are well informed about any developments that affect the industry, thus having an affect on the level of job opportunities that are available. For example, the health field is hot and they are always looking for nurses.
Product or Service Pricing: Know your worth. However, more importantly research the salary range for the position you are applying for. So when you negotiate a salary, you aren’t going to price yourself above or below the going rate.
Expenditures: Know your personal expenses. Make sure you accept a position that will be able to cover your needs.
Financial Growth: Again, in researching the salary range for the position, it will also help you find out the growth potential with this career. Maybe there are small incremental growth rates with years of experience or there are huge growth rates. Find out what other education or skills you will need to acquire to consciously increase your income, also know in business as expanding your product or service line.
This may seem like a lot of work, and it is. However, it will help you narrow your job search to exactly what you want, instead of being all over the board. It helps you focus on your target market and supply them with the type employee they are looking for – you!
Posted by
Ciara Wimby
at
Wednesday, September 24, 2008
The Entrepreneur Mindset
The Entrepreneur Mindset
“The Road Not Taken” by Robert Frost has to be my number one favorite poem of all time. I discovered the poem sometime during high school. It just resonated with my soul. For those who haven’t been privileged to read it, it’s about following your own path in life.
Throughout life, we have all had this feeling that we can do something more than what we are currently doing. You have a million dollar idea for a product or service to provide. The idea sits inside you and talks to you. Do you listen? Did you listen? Are you going to listen?
What makes you act on that idea is a true knowing of your ability to succeed – an entrepreneur mindset. Are you a problem-solver and risk taker? Are you fearless and unbending in your believes? If the answer to both were yes, then one would say that you are a natural born entrepreneur.
If you aren’t currently displaying the above mentioned qualities, it doesn’t exactly mean that you aren’t an entrepreneur at heart. Maybe you are like a diamond in the rough or a piece of sand waiting to be cultivated into a precious pearl. Thus, meaning your inner entrepreneur has yet to surface.
Try taking an entrepreneur personality quiz to find out where you stand, I’ve provided a few links below.
http://www.forbes.com/entrepreneurs/2005/11/15/entrepreneur-personality-quiz_cx_bn_1116quiz.html
http://www.queendom.com/tests/testscontrol.htm?s=71
http://www.career-intelligence.com/assessment/entrepreneurs-checklist.asp
“The Road Not Taken” by Robert Frost has to be my number one favorite poem of all time. I discovered the poem sometime during high school. It just resonated with my soul. For those who haven’t been privileged to read it, it’s about following your own path in life.
Throughout life, we have all had this feeling that we can do something more than what we are currently doing. You have a million dollar idea for a product or service to provide. The idea sits inside you and talks to you. Do you listen? Did you listen? Are you going to listen?
What makes you act on that idea is a true knowing of your ability to succeed – an entrepreneur mindset. Are you a problem-solver and risk taker? Are you fearless and unbending in your believes? If the answer to both were yes, then one would say that you are a natural born entrepreneur.
If you aren’t currently displaying the above mentioned qualities, it doesn’t exactly mean that you aren’t an entrepreneur at heart. Maybe you are like a diamond in the rough or a piece of sand waiting to be cultivated into a precious pearl. Thus, meaning your inner entrepreneur has yet to surface.
Try taking an entrepreneur personality quiz to find out where you stand, I’ve provided a few links below.
http://www.forbes.com/entrepreneurs/2005/11/15/entrepreneur-personality-quiz_cx_bn_1116quiz.html
http://www.queendom.com/tests/testscontrol.htm?s=71
http://www.career-intelligence.com/assessment/entrepreneurs-checklist.asp
Posted by
Ciara Wimby
at
Sunday, September 21, 2008
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