When one such entrepreneur was asked about the hardest decision he ever had to make, he answered that he didn’t know what a hard decision was.  An entrepreneur trying to make moolah will approach decision-making with the idea that there’s a strong likelihood that he/she will be wrong.  This doesn’t dissuade them – to the contrary they just do the best they can and worry about handling obstacles as they arise.

Another way of looking at it is to realize that you will make mistakes, so make them as quickly as you can in order to learn from them.  A good leader doesn’t view making mistakes as negative or irrevocable, he/she feels free to press on and try something new. There is the belief that something useful has been learned, and hopefully not at a high cost.

Let’s face it; if you’re going to live this life you’re going to make mistakes.  Make use of them as learning tools and don’t make the same ones twice.

Entrepreneurs also know the value of “intuition”.  While you shouldn’t act on the results of tossing a coin, there is something to be said about your “gut” feeling about the situation.  Very often business people become so involved with systems and checks-and-balances that they forget about that “gut” instinct they had when they started.

While not strictly logical, intuition does draw on a combination of experience, knowledge, and analysis as well as a lot of “gut” information you may have forgotten that you have.

You become a strong leader in your business by “practicing” being a leader.  It’s not a course you can take at a business college; it’s learned in the school of life as you’re doing business.

As a leader, you have to set standards and higher standards for your own behavior.  You must do this because appearances are sometimes more important that facts.

Consider for a moment that as an entrepreneur with a small business you’re planning on approaching a bank for a loan.   You know that you must present a well thought out and concise Business Plan, with all the projections for the use of the capital you’ll borrow and the repayment of the same.  You learned that from all those seminars you attended when considering becoming an entrepreneur, but is there something that you weren’t taught in seminars?  What about “presentation”?

I don’t mean the presentation of the Business Plan, we all know that must be well done and attractive.  What I’m talking about is YOU!  Do you maintain the appearance of leadership?  Do you project a confident appearance of a successful entrepreneur?  You may not have the faintest idea today how you’re going to pay for that advertising bill coming due on the 15th, but you’re not going to give that banker that information.

Presenting yourself as a confident entrepreneur, filled with the excitement of your business idea, and a strong leader of your team (whether it’s 1 or 10 employees) is what will make you a winner and add untold weight to your Business Plan.  After all, you are your business to that banker so you’d better look good and confident.

To protect that faith that your people and your customers have in your organization, always ask yourself these two questions:

1. Could this be interpreted by anyone in a way that would shake their faith in my leadership?

2. Could this be misinterpreted and held against me or the company?

Strong leaders know that leadership is a lifelong learning experience, and when they make a mistake they simply continue to move forward.  The ability to bounce back is a quality that every entrepreneur I’ve ever known has in abundance.

When you blunder, get up and try again quickly.  As one high-tech CEO  I knew put it, “Our strategy is to fail forward fast.”

Why Successful Entrepreneurs Are Lifetime Students is a post from: Moolah-Moolah

If an interviewer wants to catch you off-guard, they will arrange a business meal at a local restaurant.  At this meal, there are some key points you need to keep in mind.  Your social graces will be observed and you will be considered as a whole person.  Most of the time, a meal interview is the second interview, so you are under strong consideration and also intense scrutiny.  Over ordering food or drink can signal poor self-discipline, which will call into question your judgment and maturity.  If you are rude to waiters and bus people it shows that you will not get along with subordinates and thus, poor leadership skills.

First of all, you will want to avoid alcohol because it fuzzes your mind and cognition.  If you do have a light wine, never order more than one glass.  Water is a much better choice, but if your interviewer is ordering alcohol, you may want to also.

Smoking is tricky.  If your interviewer is a smoker, and he/she lights up, you may join, but never light up during a meal.

Never order something really messy, like spaghetti or sloppy joe, and never speak with your mouth full.  It is easier to order the same thing that your interviewer does.  Do not change your order once it is made and never send the food back.  Do not order expensive food.  Don’t order anything with bones.

Finally, if the waiter puts the bill in front of you, do not touch it. It is the interviewer’s duty to pay it; you should never offer to share payment.  Thank the host for the wonderful meal.

The Business Meal is a post from: Moolah-Moolah

What I got were a variety of fresh, innovative ideas — and once you read them, you will know that they came from a group of folks who have already made it big in businesses of their own.

The following are the “15 Best” ideas for super charging your business, no matter what kind of business you are in.

1.  “Same-Old” is out — Getting attention with something new is in. To get new business, you must strive to be innovative and dramatic.  For example, an insurance agency, offered ‘the biggest steak dinner in town” if it couldn’t save any person money on their car insurance. This challenge was enough to make the telephone start ringing off the hook for days at a time. The customer flow was “absolutely crazy” for days.  The bottom line: dozens of new insurance buyers and tons of new cash flow — and all they had to do was fork out the cost for a half dozen steak dinners!

2.  Tight target marketing. The big job in marketing and sales is getting to the right people inside another company. Addressing mail to “Facilities Manager” or printing a “routing slip” on the outside of the envelope is ineffective. Hitting the target is the challenge. Scoring a bull’s eye means making contact with the right individuals and is the only way to make the sale. Taking time to be highly targeted in business communication is essential.

3.  Be more creative. Pushing direct-mail pieces out the door or sending the newsletter to the mail room isn’t doing the job. Ask yourself: “Will anyone be intrigued enough to read the mailer–before tossing it in the wastebasket?” Ask the same question about the company newsletter. A highly creative approach is necessary to be different and distinctive. Creativity costs money. But, if more people read the ad, take time with the newsletter or decide that the offer in a mailer makes sense, you have accomplished the goal.

4.  Focus on what customers care about. After listening to the admissions director talk about what should be shown in the school’s new recruiting video, the marketing consultant asked, “Is this what parents and prospective students are interested in knowing?” Suddenly, everyone became less confident. Someone suggested asking the student tour guides what questions the visiting parents and kids asked? Whether creating an ad, a brochure, or a sales presentation, knowing what the customer wants, needs and expects is what works.

5.  Tell customers how to think about your company. We come to conclusions by making comparisons. If you don’t let customers and prospects know why it is in their best interests to do business with you or buy your product, they won’t. The rating of life insurance companies makes an impact on customers. The J.D. Powers’ customer-satisfaction survey on cars and personal computer manufacturers influences buying behavior. Wise companies spend time and effort consciously influencing the way they are perceived by customers, prospects, bankers and stockholders.

6.  Make your offers outstanding. Customers are cautious. They don’t like being put on the spot; they don’t want to make a mistake. This is why offers are essential. “Try it for 30 days…free.” “We won’t deposit your credit card slip for a month.” “Your satisfaction is guaranteed.” “Take the car for the weekend and drive it all you want.” The goal is to overcome the customer’s reluctance.

7.  Be in the right place at the right time. “Why didn’t I think of you last week when we bought the new…” Some salespeople simply shrug off such comments. Oh, well. I can’t be in the right place every time.” Wrong. Being in front of the customer is today’s assignment. Developing a consistent program for staying in front of customers regularly is the challenge. A mix of seminars, newsletters, bulletins, fact sheets, special events and informative articles will keep you in the customers’ minds.

Ponder these tips for a week, and next week I’ll give you the remaining 8.  Your business should shine after that!

8.  Name your product or service. One of the best ways to differentiate your products or services from all the rest is to give them distinctive names. A building contractor with expertise in remodeling during off-hours calls himself the ’stealth” remodeler. A fuel oil dealer doesn’t talk about service–he emphasizes “ComfortCare Service.” The idea is to imbue ordinary ideas with new meaning thereby separating your com-pany from your competitors. Make sure, however, that the name appeals to your customers and not just to you.

9.  Be relentless. Persistence is power in marketing and sales. Far too many firms fail in their efforts because they don’t follow through long enough to produce proper results. Marketing momentum comes from a consistent effort. Once you start a newsletter, issue it on schedule. It takes time for customers to comprehend what you are doing and for prospects to get acquainted–and comfortable–with a business.

10.  Get rid of the self-serving nonsense. Most company publications, ads, letters, brochures, and other sales materials are filled with words, photographs and information that do nothing more than toot the company’s horn. No one cares that the business says it is the “best,” “oldest” or the “biggest.” Pictures of the staff are only interesting to the staff. A better approach is to ask prospects what they want to know about your company. We doubt anyone will be anxious to see pictures of the CEO, chairman of the board or the executive vice president.

11.  Tell them everything you know. Spill the beans, so to speak. Since today’s customers want information, knowledge and helpful ideas, do everything you can to share everything you know. This is the only way to become a valued resource to your customers. When people use your ideas, they will buy what you sell.

12.  Be generous. No one wants to do business with firms operating on a one-way street. Buy a new car and the dealer hands you a 20-cent plastic key holder! It sends a message that this dealer doesn’t under-stand his customers. You may forget the car, but you will never forget the lousy key ring! Another auto dealer delivers the new car to your office. What a difference. This dealer sends a powerful message–our customers are important.

13.  Make prospect identification your mission. The single most important daily activity in any business is prospect identification. By making prospecting a continuing process, companies produce a steady flow of new sales leads. They never stop asking, “Who do we want to do business with if we have the chance?” Then make sure all prospects are entered into a database so they can be cultivated over a period of time.

14.  Scrutinize your corporate identity. Yes, how a company presents itself makes a difference. Is the logo appropriate? Is it dated? Does it communicate the right message and the correct image? Is the president the only one who understands it? What about the company colors? Are they reminiscent of the late ’50s? Do the letterhead, mailing labels and business cards convey a strong, positive message? Or, are they dull and ordinary looking? If you don’t think this is important, your competitors will be thrilled. Corporate identity is the face you put on your company.

15.  Write customer-centered letters. Most business letters have cold, impersonal words. “As per our conversation…” “Pursuant to our agreement…” When was the last time you heard anyone talk this way at lunch (other than perhaps a lawyer)? Yet, give the same executives a pen and they become stilted. There is no reason why business letters should not be warm, friendly, conversational, interesting–and customer-centered. Write as if you were the one reading it. Should a letter end at the bottom of the first page? Yes, if that’s what it takes to tell the story? But it may take two, four or six pages. A letter should be as long as necessary and always interesting to the reader.

15 Amazing Ways To Supercharge Your Small Business Success is a post from: Moolah-Moolah

Some of the things you can do include protecting yourself from expenditures made on sudden impulse. We’ve all bought merchandise or services we really didn’t need simply because we were in the mood, or perhaps in response to the flamboyancy of the advertising or the persuasiveness of the salesperson. Then we sort of “wake up” a couple of days later and find that we’ve committed hundreds of dollars of business funds for an item or service that’s not essential to the success of our own business, when really pressing items had been waiting for those dollars.

If you are incorporated, you can eliminate these “impulse purchases” by including in your by-laws a clause that states: “All purchasing decisions over (a certain amount) are contingent upon approval by the board of directors.” This will force you to consider any “impulse purchases” of considerable cost, and may even be a reminder in the case of smaller purchases.

If your business is a partnership, you can state, when faced with a buying decision, that all purchases are contingent upon the approval of a third party. In reality, the third party can be your partner, one of your department heads, or even one of your suppliers.

If your business is a sole proprietorship, you don’t have much to worry about really, because as an individual you have three days to think about your purchase, and then to nullify that purchase if you think you don’t really need it or can’t afford it.

While you may think you cannot afford it, be sure that you don’t ’short-change” yourself on professional services. This would apply especially during a time of emergency. Anytime you commit yourself and move ahead without completely investigating all the angles, and preparing yourself for all the contingencies that may arise, you’re skating on thin ice. Regardless of the costs involved, it always pays off in the long run to seek out the advice of experienced professionals before embarking on a plan that could ruin you.

As an example, an experienced business consultant can fill you in on the 1244 stock advantages. Getting eligibility for the 1244 stock category is a very simple process, but one with tremendous benefits to your business.

The 1244 stock encourages investors to put equity capital into your business because in the event of a loss, amounts up to the entire sum of the investment can be written off in the current year. Without the “1244″ classification, any losses would have to be spread over several years, and this, of course, would greatly lessen the attractiveness of your company’s stock. Any business owner who has not filed the 1244 corporation has in effect cut himself off from 90 percent of his prospective investors.

Particularly when sales are down, you must be “hard-nosed” with people trying to sell you luxuries for your business. When business is booming, you undoubtedly will allow sales people to show you new models of equipment or a new line of supplies; but when your business is down, skip the entertaining frills and concentrate on the basics. Great care must be taken however, to maintain courtesy and allow these sellers to consider you a friend and call back at another time.

Your company’s books should reflect your way of thinking, and whoever maintains them should generate information according to your policies. Thus, you should hire an outside accountant or accounting firm to figure your return on your investment, as well as the turnover on your accounts receivable and inventory. Such an audit or survey should focus in depth on any or every item within the financial statement that merits special attention. In this way, you’ll probably uncover any potential financial problems before they become readily apparent, and certainly before they could get out of hand.

Many small companies set up advisory boards of outside professional people. These are sometimes known as Power Circles, and once in place, the business always benefits, especially in times of short operating capital. Such an advisory board or power circle should include an attorney, a certified public accountant, civic club leaders, owners or managers of businesses similar to yours, and retired executives. Setting up such an advisory board of directors is really quite easy, because most people you ask will be honored to serve.

Once your board is set up, you should meet once a month and present material for review. Each meeting should be a discussion of your business problems and an input from your advisors relative to possible solutions. These members of your board of advisors should offer you advice as well as alternatives, and provide you with objectivity. No formal decisions need to be made either at your board meeting, or as a result of them, but you should be able to gain a great deal from the suggestions you hear.

You will find that most of your customers have the money to pay at least some of what they owe you immediately. To keep them current, and the number of accounts receivable in your files to a minimum, you should call them on the phone and ask for some kind of explanation why they’re falling behind. If you develop such a habit as part of your operating procedure, you’ll find your invoices will magically be drawn to the front of their piles of bills to pay. While you should maintain a courteous attitude, don’t be hesitant, or too much of a “nice guy” when it comes to collecting money.

Something else that’s a very good business practice, but which few business owners do is to methodically build a credit rating with their local banks. Particularly when you have good cash flow, you should borrow $100 to $1,000 from your banks every 90 days or so. Simply borrow the money, and place it in an interest bearing account, and then pay it all back at least a month or so before it’s due. By doing this, you will increase the borrowing power of your signature, and strengthen your ability to obtain needed financing on short notice. This is a kind of business leverage that will be of great value to you if or whenever your cash position becomes less favorable.

By all means, join your industry’s local and national trade associations. Most of these organizations have a wealth of information available on everything from details on your competitors to average industry sales figures, new products, services, and trends.

If you are given a membership certificate or wall plaque, you should display these conspicuously on your office wall. Customers like to see such ’seals of approval” and feel additional confidence in your business when they see them.

Still another thing often overlooked: If at all possible, you should have your spouse work in the business with you for at least three or four weeks per year. The important thing is that if for any reason you are not available to run the business, your spouse will be familiar with certain people and situations about your business. These people should include your attorney, accountant, any consultants or advisors, creditors and your major suppliers. The long-term advantages of having your spouse work four weeks per year in your business with you will greatly outweigh the short-term inconvenience. Many couples share responsibility and time entirely, which is in most cases even more desirable.

Whenever you can, and as often as you need it, take advantage of whatever free business counseling is available. The Small Business Administration published many excellent booklets, checklist and brochures on quite a large variety of businesses.  These publications are available through the U.S. Government printing office. Most local universities and many private organizations hold seminars at minimal cost, and often without charge. You should also take advantage of the services offered by your bank and local library.

The important thing about running a small business is to know the direction in which you’re heading; to know on a day-to-day basis your progress in that very direction; to be aware of what your competitors are doing and to practice good money management at all times. All this will prepare you to recognize potential problems before they arise.

In order to survive with a small business, regardless of the economic climate, it is essential to surround yourself with smart people, and practice sound business management at all times.

Author: BPaul

Survival Tips For Small Businesses is a post from: Moolah-Moolah

Many people are looking to create additional income so they can buy back some time. Many have a great desire to spend more time with friends and family. I can say that it is very enjoyable to be able to work from the comfort of your home.

Well, you might be wondering what types of work at home programs you could do. Well if you have minimal typing skills, a computer and access to the Internet you can more than likely do the following programs:

1. Data Entry 2. E-Commerce 3. Blogging 4. Online Paid Surveys 5. Affiliate Marketing 6. Virtual Assistant

There are also programs whereby you can save money on the things you already buy monthly, which leaves more money for other things. You can share these programs with others and be paid a small affiliate fee. You would be surprised how many different ways there are to free up or create more income monthly. You have to be willing to try. Some people are not willing to change their buying habits. For those people the jobs  listed from 1- 6 are probably a better fit.

However, one caveat is numerous people have a tendency to try to do several jobs. The main reason is, they think generate several income streams and concentrate on the kinds of opportunities they enjoy the best.

Whatever your motives or objectives are, you will discover a home business that will meet your needs. It takes quite a few tries and research. I recommend either utilizing the internet, and doing research, but not necessarily mine, that has done the research or be prepared to do it yourself. It must be done, as there are plenty of companies that will take your time and money giving you nothing in return.

Give yourself a chance; pick a good program, join and start working from the comfort of your home. Who knows you may be pleasantly surprised. I know I was and continue to be.

The time requirements for many home based programs are usuallyvery flexible and I discovered that you can normally do them at your own pace. The essential point to remember is that you’ll have to have the self-discipline to ensure you make the work at home. Some individuals have to have a day job, but many do not. Please feel free to read both this article or one of my many others by visiting my link in the resource box below. I always enjoy getting emails pertaining to my articles or my site. Your feedback is important to me.

If you have a computer, printer, word processor and access to the Internet you more than likely have all the equipment necessary to work from home.

2010 Best Work From Home Jobs is a post from: Moolah-Moolah