BOOST YOUR BUSINESS?

…STOP LOOKING OUT SIDE!

If you thought leadership, teamwork, investors or data-based analysis would boost your business into the spotlight, you’re probably wrong.

All of these are ingredients –that used wisely– can contribute to business success, but none will make the kind of difference that entrepreneurial thinking can deliver. This single quality offers the greatest success dynamic possible.

It is at the heart of all Internet, and tech innovation, as well as product and service-product development.

It is the cornerstone of all brick and mortar and service businesses. Yet it is most often overlooked, unacknowledged, intentionally disregarded, and seldom credited.

But it is entrepreneurial thinking that ignites and electrifies all other business-boosting ingredients. Entrepreneurial thinking is what launches leadership, teamwork, investor support, and data-analysis meaningfulness into a flexible productivity orbit.

Entrepreneurial thinking is the funnel through which energy, enthusiasm, and reality must pass in order to lift a business enterprise off its feet.

Okay, so how does one acquire this magical capability? By nurturing free-spirited approaches to problem-solving.

Is this the same thing as “out-of-the-box” thinking? Not really:

Entrepreneurial thinking has no box to be out of.

It is unconfined to start with.

Sadly, not everyone understands it or has the wherewithal to coax it out onto center stage. Remember (especially academia!!), that entrepreneurship is an instinct — not a learned skill.

But if you are one of those who find this subject elusive, there are others –probably within your own circle of contacts– who readily exercise entrepreneurial thinking processes and who may find the opportunity to apply themselves to your pursuits in ways that prove personally rewarding to them, or at least tempting. You’ll never know unless you ask.

So use it, or find it, or buy it . . . nothing else can truly boost your business to where you think it deserves to be.

# # #

hal@businessworks.US

STRATEGY/ CONTENT/ CONNECTION

931.854.0474 Coaching for Higher Branding Impact

Business Development/ National-Awards/ Record Client Sales

Personal & Professional Growth/ Creative Entrepreneurial Thinking

Your Role In History As An Entrepreneur

F I N A N C I N G 

Adapted from the book 30 DAYS TO THE NEW ECONOMY written and published by Peggy Salvatore

We already explored the potential of the effect of the changing financial realities of the New Economy on your Internet business. Some of the old gatekeepers of investment capital have been supplanted by the ability to reach out directly to potential investors.

For small entrepreneurs, you may only need a few thousand dollars. With the amount of free and low-cost resources at your disposal, you can start a substantial business with little startup cash. That means many people can build their business out of pocket.

There are many benefits to funding your own enterprise. You have no debt except to yourself. You retain control of the business and you own it 100% outright. And you spend your time on your business, not court- ing potential investors. If you can do it, self-financing is the way to go.

If you need to attract investors for a larger idea, you can go directly to individuals. Wise investors (which is what you want) will vet you and help you by making sure your idea is viable and you are able to execute it professionally. Consider wise investors another advantage that you take into your venture.

You may be the person who imagines the concept, but you don’t want to go it alone. Wise investors will look at the credentials of your support system as well as your own ability to execute your ideas. The more advisors and team members you have in your corner, even those part-timers and professional friends, are very important to your success.

You want others to help you hone your ideas, promote your products and services, and be your cheerleaders on days when you need one. When you are looking to attract capital, that team will make or break your ability to do so.

Be strategic about your partnerships. A geek with sales skills might be able to sign up customers and design websites but not write content. A strategic partnership  with a content writer (who may even be in a different country!) who has no site design or sales skills, can accomplish more than either can working alone.

And there’s no legality (besides perhaps a dated, mutually-signed “letter of understanding” to set forth what’s agreed) involved, and no complicated financing involved. What there needs only to be is separate skilled businesses or individuals with mutual trust and ambition. It can work like barter with a split-fee arrangement.

Build bench strength where you have weaknesses

Make sure the human resources you have on board support your mission and can conduct all the internal business processes required to operate legally, ethically and with solid financial plans.

Finally, be realistic about the amount of financing that you need. If you overestimate, you will spend your time raising money for things you don’t need or could easily and more quickly do yourself. If you underestimate, you will get only partway to goal.

A great realistic plan is to start your business in small and manageable chunks with the resources and financing at your disposal, and when the marketplace responds with interest and orders, you can raise the stakes.

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C’mon back TOMORROW 10/9 for Day 24 —

Are you your own Department of Internal Revenue?

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SPECIAL   A N N O U N C E M E N T

Sign up NOW for NOVEMBER 29th (Sunday Night after Thanksgiving)

LIMITED SEATING COACHING WEBINAR:

“ENTREPRENEURS ARE AGENTS OF CHANGE… Accelerating Your Business”

Get fresh, informed, proven insights geared specifically to your business market, your biggest problems, your biggest opportunities.

With Hal and Peggy’s wealth of business coaching experience, you’ll learn how YOU match up with what successful entrepreneurs are thinking and doing RIGHT NOW. Get ideas you never imagined. Gain the traction you need within 2 hours — not days or weeks or months. Simply call 931.854.0474 Central Time: 11AM to 4PM Monday-Friday for details, to explain your business pursuit focus and to reserve your seat! $99 total for 2 hours. Satisfaction Guaranteed.

———-

For more information on Peggy Salvatore’s book: 30 Days to the New Economy [© Peggy Salvatore 2015. All Rights Reserved.] click on ENTREPRENEUR NEWS or visit ow.ly/RysnP for the E-book

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Hal@Businessworks.US      Peggy@Businessworks.US

Open Minds Open Doors

Thanks for your visit and make today a GREAT day for someone!

SHARK TANK: Entertainment

(But NOT Entrepreneurship)

It’s entertaining. It’s helped popularize the word entrepreneur and expose the hind flanks of what entrepreneurial pursuits are all about.  But TV’s “Shark Tank” is an entertainment product of pure fantasy. It bares almost no resemblance to the day-to-day real-world inhabited by zillions of struggling ideologists trying to piece their brainstorm ideas together with some magical business glue, and create success.

There’s really nothing “wrong” with the show or its (rather engaging) celebrity sharks. And “Shark Tank” is often amusing, provocative, comical, and at times even heart-rendering, but real entrepreneurs need to dismiss the show’s odds for funding success as akin to winning the lottery. And the occasional investment “loser” who ends up a winner –just from being on the show and gaining favorable PR exposure– is highly unusual.

Yes, there are some big-time “winners” plucked from the many thousands of applicants and auditions. But for the vast majority of contenders, time and energy expenditures alone can cost a fortune in opportunity losses.

So take Shark Tank for what it is: A source of amusement at seeing SO many people work SO hard to get to the point of not having the answers to questions they knew they’d be asked before they ever even set foot on the stage. If anything, the show is a rude awakening for those who think they can simply stroll into a bank, finance company or venture capital firm, talk about how great their ideas are, and leave with bulging wallets.

First of all, it is with rare exception that a business startup (or even a successful ongoing venture) cannot be more successful by focusing on making the creator’s idea work, instead of on seeking funding support. Ask anyone you know who’s made it, and they are likely to tell you that when they made their idea work, money simply came to them from out of nowhere – customer sales and investment offers. If your idea is great, money will find you!

Remember, ANY one can have a creative idea. It’s the ability to be innovative and internally driven to take that idea and run with it–all the way through to completion–that makes entrepreneurs and entrepreneurially-minded product and service developers stand uniquely apart from all other business careers and lifestyles.

Entrepreneurs are not just saying, “Hey! Look at this!” They are saying: this is how this works, this is what it costs. This is the market. This is how we can sell it. This is the profit margin. This is the next step, etc. etc. Unlike the fake version, Entrepreneurs, REAL entrepreneurs, don’t sit on an idea, or analyze it to death, or form a month’s- or year-long study committee. They just do it! Then they adjust it. Then they do it again. Then they adjust it again. Then they do it again and adjust it again, and keep going . . . until it works!

# # #

Hal@Businessworks.US               931.854.0474

OPEN  MINDS  OPEN  DOORS

Many thanks for your visit and make today a GREAT day for someone!

You will NEVER

have enough money

to start a business!

“Yeah, yeah, I’ve heard this before,” your stubborn venturesome self may say by way of dismissing the ugly truth, but dismissing reality doesn’t make it go away. Your offhandedness will inevitably come back to nip you in the tush. UNLESS! Unless you can get yourself to accept reality unconditionally and plan (that nasty entrepreneur word again) accordingly.

Ah, and one other very important asset you need to bring to your business startup table: PLUCK! [No, not as in fingering a banjo!] Pluck as in backbone, bravery, courage, daring, fortitude, gameness, grit, guts, mettle, moxie, nerve, zest, spunk. This is not to suggest recklessness in talking money. It is rather to suggest being realistically bold and fearless.

“Realistically”?

If you grow your business idea to the point where a major infusion of someone else’s cash or equipment is needed in order to survive and/or continue to grow, you’d better be prepared to give up total control in exchange. This translates to the need for you to be prepared to hedge your bet, and possibly diversify your interests (if your investors allow you to!).

Starting a business is not a task for the meek. It is not a retirement or corporate escape. It is not a hobby. It is not simply taking advantage of a spur-of-the-moment opportunity. It is not a one-night stand. When you start a business, you marry your idea! Without some grand inheritance, how many marriages start out with enough money?

No matter how carefully you budget and think through where your idea is headed, no matter how much arm-in-arm support stands with and around you, no matter how many promises you get from vendors, suppliers, ancillary services, and government agencies, you can be sure of only one thing: You’ll never have enough money to start a business.

So? So assess yourself first. Don’t dwell on it, but do be honest. Determine exactly how much pluck is inside you, and how realistic your attitude is. See where and who and how to plug the openings. If you don’t, your startup efforts are destined to fall apart and your financial exposure will be crippling.

You need to substitute for being under-capitalized by rallying your strengths and surrounding yourself with the reliable strengths of others whose skills and experience can fill in your gaps! It CAN be done. Many have succeeded. But many more have failed. The difference is pluck and a realistic attitude. How much of each have you?

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Hal@BUSINESSWORKS.US

National Award-Winning Author & Brand Marketer – Record Client Sales

Open Minds Open Doors

Do the WAYS

we do business

determine

the results we get?

ATTITUDES

Do you and your partners, associates, and advisers ALL demonstrate positive upbeat attitudes in practically everything you say and do? When it’s time to swallow hard, eat crow, and bite the bullet (heck of a name for a restaurant!), do you and those around you own up, face the music, take it on the chin, take some deep breaths, and then step forward, onward, and upward? 

Are high-trust responsive attitudes standard fare in all your business dealings? Do you practice and foster “OPEN MINDS OPEN DOORS” attitudes? Are you listening?

CUSTOMER SERVICE

Can you honestly say there are no exceptions ever to: the customer is always right, the customer is always right, the customer is always right? (Even when it’s a customer who has overstepped bounds, or someone you don’t particularly like?) Do you and your people try to make EVERY customer deliriously delighted. Are you invested in cultivating repeat sales with a present moment focus? Are you listening?

EMPLOYEES

Are you taking the time and trouble to get to know your people well enough to make the most of their strengths (or are you constantly trying to shore up their weaknesses)? Have you frequently matched employee need levels against Maslow’s Hierarchy (Google or Bing it if you’ve forgotten it) to most effectively motivate productive performances? Do you practice leadership by teaching by example? Are you listening?

INVESTORS, LENDERS, AND REFERRERS

Is your level of transparency what you would want it to be if you were investing in you, or referring others to your business? Are you keeping these key connections inside your inner loop? Are you tapping them as resources and regularly soliciting their input. Have you recruited them into unpaid Advisory Board positions? Are you listening?

VENDORS AND SUPPLIERS

Do you treat these resource people and companies like partners? Can you extend and generate better terms for exchanging and referring and bartering products and services? Do you keep them competitive with an ongoing bid process, and constantly review their performances while keeping open-minded to other options? Do they know where they stand with you? Are you listening?

POLICIES AND PROCEDURES

Are you running a U.S.Marine Drill Instructors Academy, or a hospice, or something in between? Is the way you run your business in keeping with the industry or profession you’re part of? Is it too much in keeping that it doesn’t stand out? Do your policies and procedures squelch innovative thinking and doing, or enhance it? How lawyer-crazed tight are your policy interpretations? 

EMPLOYMENT AND TRAINING

Are you constantly making room for top talent, and cultivating it. Are you providing enough of the right kinds of training. Are you aware of how importantly regarded expanded opportunities and responsibilities are to most people? Did you know that young people are positively more attracted to being praised than they are to sex, drugs, and alcohol? 

COMMUNITY RELATIONS

Are you and your business being good citizens in the various (professional, industry, geographic, neighborhood)communities that patronize your business and support your existence?

GOD AND COUNTRY

When you put God and country first on your business agenda, all the other pieces will fit together because both God and your country will know about your allegiance, your commitment, and where your heart is. As we sow, so shall we reap. 

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# # #

302.933.0116 or Hal@BusinessWorks.US

“The price of freedom is eternal vigilance!”   [Thomas Jefferson]

Thanks for visiting. Go for your goals! God Bless You.

Make today a GREAT day for someone! 

IF YOU CAN FOLLOW

these 8 sentences, you 

understand how to fix

the economy — and the

White House is puzzled.

(PART 1 OF 2)

     Entrepreneurs pursue ideas. They taste, test, trial-and-error, and explore applications of their ideas. When they settle on a direction, they find or attract enough financial support to do two things: 1) Create an operations process to develop (manufacture, fabricate, enhance) the product(s) and/or service(s), and 2) Design and deliver a marketing program.

     Marketing drives prospects to the door and creates a support platform for sales. Salespeople (or the entrepreneur herself or himself, acting in a sales role) produce(s) sales. Sales produce revenues. Revenues pay operations process and marketing (and perhaps investor) expenses and hopefully generate profits.

     Profits allow entrepreneurs to create jobs.

     Big business really doesn’t create new jobs. Research demonstrates time and again that far more than the vast majority of new jobs created in America originate with small business.

     So— why does the White House insist on avoiding and glossing over small business as an insignificant source of new jobs? Why does the White House pretend to befriend small business, shaking hands with the right hand while stabbing it in the back with the left hand?

     Can someone please answer this? Can the answer please be a real one, and not some convoluted response anchored by union-held political chips or fantasyland corporate moguls riding bailout coattails?

     How do”We the people…” choose to allow narcissistic political arrogance to override the critical needs of our economically-threatened society to stimulate and foster job creation?  Part of the answer is that we have a federal government that’s universally comprised of individuals who have not one iota of business experience, and who adamantly refuse to get the business advice needed for economic recovery from the only source that matters: small business.

     And surely–because, really, no one could be this dumb– the government can’t possibly be thinking that the SBA is the place to turn for meaningful input. (Yes, this is the same Small Business Administration administered by small-business-braindead government employees and stimulus-recipient big business corporate types who can’t even spell entrepreneur, let alone think like one) .

     The message is: WAKE UP AMERICA!  There’s more to this story, and it’s coming tomorrow.

     I hope you’ll return for –as one of my heroes, Paul Harvey, used to say– the rest of the story!

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Your FREE subscription: Posts RSS Feed

Hal@Businessworks.US or 302.933.0116

“The price of freedom is eternal vigilance!” [Thomas Jefferson] 

Thanks for visiting. Go for your goals. God Bless You.

Make today a GREAT day for someone!

Banking on your bank?

Don’t waste your time!

     The economy continues to hemorrhage.  Oh no, that’s just not true, I heard that it’s not true on the news today:  The federal government says “we’re seeing many signs of things turning around.”

     I can’t imagine  what’s in some one’s line of sight that would prompt THAT statement. Also in today’s news, Microsoft just laid off another 800 employees. You connect the dots.

     The point is that when the going gets tough,  the average hard-working business leader thinks: The BANK. The BANK will bail us out. The BANK will lend us what we need. The BANK is the answer.

     One leading national bank  says they’ll even give loans to illegal aliens. Another says it will help customers who need help. Don’t you believe either one of them, or any of the other sleazy branding line enticements being offered out there in medialand. 

     You cannot depend on The BANK.  Period. Banks are tripping over themselves trying to outdo hospitals and the US Postal Service in the stupidity and low trust departments.

     Banks are at least 50 years behind reality  and –just like the hospitals and US Postal Service– think that slick, clever slogans, spiels, and marketing devices coming from empty suits and empty heads are going to make up the difference, the decades of incompetence.

     Credit unions offer a bit more comfort,  because they answer to their “members” not a board of directors and stockholders (but can also be a bit more risky for businesses because loan percentages, for example, can end up being higher than credit card rates if you’re not careful and alert).

     You think BANK  because the BANK has convinced you that it is your good neighbor, that because it’s been doing business in your town for a zillion generations, that it’s honorable and will loan you the money you need when you need it for a ridiculously low rate because they’re your neighbor.

     Good Luck!  A lot of businesses are failing because they naively trusted The BANK would support them in hard times. Reality Check: The BANK supports itself in hard times.

     What else is there?  Investors. Great, but guess what? Today’s investors want immediate gratification ROI and enough proof and collateral to guarantee it. Not much help if you don’t already have the money you need! 

     “Angel” investors  are getting tainted with skepticism, and are also requiring more than you probably have cause if you had it you wouldn’t be looking for it! Hmmmm. Barter. Right. Well, barter is great up to a point, but it rarely if ever produces money. Stockpiled merchandise and services have increasingly marginal value. 

     So, that leaves (ta-ta-ta-ta-tah-tah!):  SALES. Innovative, value-added products and services = SALES. SALES ALWAYS BEAT The BANK. How to boost sales now must be your number one (and perhaps only) priority. There is no greater or more important issue for you or your business to be dealing with right now, unless of course you own or run The BANK. 

# # #               

Don’t be waiting for unions,

government, big business,

banks, or Fairy Godmothers! 

     It’s a good idea to step on the scale every once in awhile. It’s easy to let your business get too heavy from feeding it too much fat and not exercising it enough, or making sure it gets the sleep it needs. Whaaat? Well, sure: your business has a life too. The question is–since it’s YOUR business and dependent on YOUR choices–what exactly are you doing to keep it healthy and growing?

     When’s the last time you stepped outside your business and re-entered it, pretending you’ve never been there before? Just as trying to draw conclusions about your own health from just stepping on the scale, weight is merely one indicator. Many other factors need to be inventoried.

     Beyond the obvious business health ingredients, like first-impression appearances (e.g., parking, signage, displays, employees, facilities, waiting areas) and all the components like lighting, colors, cleanliness, etc., there’s a myriad of interrelated factors, issues, concerns and pursuits that warrant your assessment or reassessment.

     When, for example, did you last–or when do you next plan to–launch a new product or service program or initiative? Have you been holding back until the economy is “better”? Considering the growing evidence that that could be a very long time, could a launch delay now drag your company’s energy level down, perhaps to a point below a more aggressive market competitor? In other words, is it worth waiting?

     If you’ve already launched your exciting new Zilch-Zapper product line and support services, are they dying on the vine while you’ve preoccupied yourself with tap-dancing around your bankers and investors? There comes a point–as with humans–when a business becomes so over-burdened, so dis-stressed, that it collapses or has a stroke. Could you possibly be cultivating that kind of trauma?

     The good news is that business trauma is easily reversed. It requires only two things:

1) Recognitionthat the negative places your business health dwells in or is headed toward are the result of your conscious or unconscious choices (It’s as easy to choose to UNdo a bad choice as it is to choose to stay with a bad choice), and

2) Awareness that a burning commitment needs to be made to act on and directly treatthe diagnosis your inventory produces, and to be made by standing shoulder-to-shoulder with the immediate and long-term business healthcare and growth goals you set.

     Bottom line: If YOU don’t balance the life of your business (as well as your own… in order to grow your business from a position of strength vs. a position of weakness), who is going to balance the life of your business? Certainly not the government, unions, banks, or big business… I guess the answer kinda doesn’t leave much to the imagination. But that’s okay, because imagination is plentiful, and it’s what you need to exercise in order to get the job done. 

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Input welcome anytime: Hal@TheWriterWorks.com (”Businessworks” in the subject line) or comment below. Thanks for visiting. Go for your goals, good night and God bless you! halalpiar  # # # 

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