              |
   |
We hope you find this arcthve useful. A subscription to The Small Business Advisor Newsletter is free. Subscribe now - it's easy! The Small Business Advisor Newsletter for November, 1997 CONTENTS
NOTES/TIPS/etc
1. Select Start, then Run,
++++++++++++++++++++++++
Some time ago I placed an advertisement in a periodical with national circulation. It cost a few hundred dollars for a "1-column inch" display. I'm sure you have seen these type of advertisements many times. We sent our artwork, paid the bill, and got ready to fill the hundreds of orders we expected. We were advertising a business book. We received three orders!! A few months later I had an article published in the same periodical which resulted in hundreds of sales. Why? When you consider it, the answer is obvious. How do you react when reading an advertisement versus an article? You are suspicious of the advertisement but reading about the same product or service in the body of an article gives it instant credibility. Clearly the author is an "expert." Furthermore, it appears that the publication itself is actually endorsing the product. Publications want your articles and will generally include a short byline (your advertisement!) at the end of the article. I get the impression that many people are as fearful of writing as they are of speaking in front of a group. Don't be - the process is easy and painless. Getting "published" is easy. Remember that virtually every magazine editor is always looking for content - especially quality content that is free. This is win-win. The magazine gets an article that may attract readership and you get free advertising. Let's write an article - by the numbers: 1. Identify magazines and other periodicals that relate to your product or service and would be interested in related subject matter. Do this by visiting your local library and asking at the reference desk for a copy of "Standard Periodical Directory" by Oxbridge Communications. This fantastic reference lists every periodical currently being published. There is a handy index that lists periodicals by subject type. Copy the pertinent information including name of editor, address, telephone and fax numbers, e-mail address. While you're at it, check out the listings of Associations that might be interested in your material. I guarantee that whatever your product or service, you will find dozens of applicable listings. Visit a local large book store with a good selection of periodicals (I like Barnes and Noble) and quickly review any of the periodicals you previously identified. 2. While reviewing the articles, note the writing "style." Is it humorous? Academic? For periodicals you cannot find, call the magazine and ask for a sample issue and a copy of their writing guidelines. Call (or e-mail) the remaining magazines on your list and ask for their writing guidelines. 3. Reviewing the content of the various publications will give you many ideas for topics and possible articles. 4. It's time to write! Get over any "fear" you have of writing. The process is easy and rewarding. Begin writing your article for the most likely candidate from your list of periodicals and attempt to follow their style of writing. Keep these writing guidelines in mind: * Pick a subject and organize
your thoughts on paper. 5. Think carefully about your "byline" -the information that you want included at the end of your article. This byline should be a sneaky "sales message" and give some indication of your expertise. As an example, here is a byline I frequently use: "Robert Sullivan is the author of "The Small Business Start-Up Guide" and "United States Government - New Customer! Either may be ordered toll-free by calling (800) 375 8439. Also, check the Small Business Advisor at http://www.isquare.com" Even a short byline can contain a lot of information. Mine includes my name, the fact that I am an author (an "expert"), lists a couple of my books, provides an 800 order number for these books and references my website. 6. Give your article an effective title (use a subtitle if it makes sense). Print your article using 1.5 or double spacing with large (at least 1-inch) margins (or refer to the magazines guidelines, if any). Include your byline at the end of the article. If submitting by e-mail, use single spacing. 7. Submit your article to EVERY periodical you have found (even though you have written your article in the "style" of one of the selected periodicals). Your package should include the following: * A copy of the article
8. Follow-up each submittal. E-mail is always best, if available. 9. Don't get discouraged. Keep writing and submitting. Incidentally, you can maximize results by having an 800 order line and the ability to accept payment via credit cards. In our case, 95% of our orders are via credit card. The more you publish, the easier it gets. Writing can be fun and, as we have noted, it is absolutely the best form of "advertising." Give it a try. If you write an article that relates to small business, send it to us for possible use in our monthly newsletter or our Internet website. We have only one guideline - submittal via e-mail only. ++++++++++++++++++++++++
One of the most important decisions that needs to be made when starting a business is selecting the structure or form by which the business will operate. The basic business organizational structures include the sole proprietorship, partnership, corporation (including general, close and S corporations) and the newest form of business entity -- limited liability company. The choice of a business structure depends upon many factors such as the nature of the business operation, the need for protection of personal assets from business debt, the intended division of earnings, need for capital, legal restrictions, tax advantages or disadvantages, number of owners or participants in the business and the planned life of the business venture. The general corporation is the most formalized form of business structure and is available in all fifty states. A corporation is a legal entity that is owned by shareholders. General corporations may have an unlimited number of shareholders that, due to the separate legal nature of the corporation, are protected from creditors of the business seeking to attach personal assets. Advantages of incorporating include: ? Owners' (shareholders) personal
assets are protected from business debt Corporations are also able to take advantage of a type of corporation tax status known as an S corporation. Essentially, owners of a corporation with the S corporation tax status treat income or loss as though they are a "partnership." The income or loss passes through the corporation and is reported on the owners' personal tax returns thus avoiding the much higher federal corporate tax rate. In addition, S corporations are able to avoid the "double taxation" of general corporations in which profits are taxed once at the corporate level and again as personal income (i.e., dividends, etc.). To form an S corporation, you must first form a general or close corporation. Within 75 days of forming the corporation, all of the shareholders must elect the S corporation status by executing federal form 2553. S corporations are restricted to no more than 35 owners, may only have one class of stock, and all shareholders must be individuals and U.S. citizens. Before deciding upon a business structure, it would be prudent to review all options with an attorney, accountant or other business advisor. While a corporation is a very desirable and common form of business structure, it is not necessarily the best choice for everyone. (Corporate Agents, Inc., a nationwide incorporation service company, specializes in assisting entrepreneurs, accountants, and first-time incorporators. Contact them at 800-877-4224 or visit their site at www.corporate.com) ++++++++++++++++++++++++
How important is your computer to your business? What would happen if you lost all your data? What would happen if you didn't have your computer? I know you are all backing up your data (right?) so let's concentrate on the other major problem that could affect your computer. We're talking here about power problems - lightning, power surges, sags, spikes - that can destroy your computer in an instant. You might have your data saved but you won't have anywhere to use it! Fortunately, it is EASY and INEXPENSIVE to protect your investment in computer hardware against these power problems but very few do it! Here is what you need to do: 1. Install a small UPS (uninterruptible power supply) to protect your computer and monitor from the dangers noted above. The UPS will continue to power your computer and monitor in the event of power loss to allow you time to shut down properly and without loss or corruption of data. It also provides protection against power surges and spikes. 2. Install a surge protector outlet strip to protect any peripheral devices you use such as a printer or scanner. Some of these also provide protection for your telcomm equipment. Here is the good news. This protection is very inexpensive. A satisfactory UPS for a small computer and monitor cost less than $100 (not bad considering that it's protecting well over $1,000 of equipment). A good surge protector will cost only around $35. Look into this today. Don't wait until the next lightning storm and don't try to save a few dollars in what you buy. Remember, we're talking insurance here, so select something of the highest quality. APC has an excellent line of these devices which are available at most computer stores and the popular mail order outlets. ++++++++++++++++++++++++ IT¹S ALL IN YOUR HEAD!
Having a positive attitude toward your business and toward life in general may be one of the most important characteristics of successful people. In my years of experience as a Business Coach, I have observed many successful entrepreneurs. With very few exceptions, those who are successful and happy have developed and maintained a positive outlook . A positive attitude is not accidental. Successful entrepreneurs know how to create a positive attitude and positive motivation for themselves. They don't just wait for it to happen. That would be like wanting a drink of milk, then sitting in a pasture, waiting for a cow to back up to you. By the way, having a positive attitude is not the same as blind optimism. I am not suggesting that you ignore the challenges in your life. I AM suggesting that you just not dwell there. What do successful entrepreneurs do to develop and maintain their positive attitude? First, they know what's important. They have carefully determined what counts in their business and personal life. Highly successful people have clearly articulated values for your business in the areas of: customer service, employee relationships, cash flow, productivity, image and growth. Why is this significant? The past few decades have seen enormous and accelerating changes in technology and social structure, in geopolitics and especially in the organizations in which we work. The pace of change is staggering and daunting. The mass of information available to humankind is doubling every 20 months. You make up to 1000 decisions per day. The time-to-market for new products and services is dropping fast. This is truly "Life in the Fast Lane." In the midst of all this turmoil, you can¹t do everything. It is important to focus on a few things that you can do well. Someone once asked the great football coach, Vince Lombardi, to describe his offensive strategy. He said "to knock down all the opposing players." When asked about his defensive strategy, he said "to knock down all the opposing players." He said "if we do those two things well, all our other plans fall into place." Knowing that we are working on the right things is a great boost to our positive attitude. In times of great change and ambiguity, how do we stay focused on the right things, unless we know what are the right things. Our business values help guide us. Another way that successful entrepreneurs maintain their positive attitude is they talk to themselves. The things we say to ourselves influence our feelings and our attitude. Once, there were two shoe salesmen sent to a faraway land to sell shoes. After the first day, one sent back a telegram saying "This place is a disaster! No one wears shoes!." The other salesperson also sent a telegram. His message was "This place is a gold mine! No one wears shoes!." Being aware of what you say to yourself inside your head (self-talk) will help you adjust your attitude. Many people beat themselves up when things go awry. When you berate yourself and tell yourself that you are "stupid" or "useless" or "an idiot," naturally you begin to feel negative about yourself, your business, the people around you and even life itself. Mistakes are the fuel of creativity. Everyone makes mistakes. Smart entrepreneurs LEARN from their mistakes and move on. Try positive affirmations in place of negative self talk. When things get a little tense, just say to yourself "I can do this" or "We¹ll find a way to make this work" or "Let¹s concentrate on a solution, not who caused the problem." Successful entrepreneurs keep their positive attitude by being careful about who they hang out with. There are always others who will readily tell you that "it can¹t be done" and "you¹ll never make it." Surround yourself with supporters. Good supporters will help you work on contingency plans and help you work around challenges without pounding you with discouragement. Avoid the "ain't-it-awful" club. Every weekday afternoon in America, between the hours of 4:00pm and 7:00pm, there are people sitting around bars and lounges talking about how bad the world is. They bemoan the economy, the competition, the government, the company, the weather, blah, blah, blah. And they call this ³HAPPY HOUR!² Don't join the "pity party". Successful entrepreneurs also develop their positive attitudes because they feed on progress. At the end of each day, instead of recounting all the difficulties and all that remains undone, write your accomplishments. End each day on a positive note by jotting down the three best things that happened this day. Often, there is no one around to acknowledge your achievements, especially those little ones that happen in the course of the day. By focusing a few minutes on your accomplishments, you give yourself a little pat on the back and recognize progress, even when small. Successful entrepreneurs take charge of the quality of their lives. A recent study showed only 4% of people enjoy both their work life and personal life. Many people have made financial objectives their sole concern and have paid a heavy price for their success - poor health, failed marriages, neglected friendships, no personal development in any area except business. Financial success, no matter how great, can never compensate for poor quality of life. A properly functioning business is supposed to be the servant of a full and satisfying life that includes good health, close and loving relationships, recreation, culture, and a powerful contribution to the community. The successful entrepreneur develops a personal life that is multi-dimensional. How? The solution is to take time away from your business. Free time makes you sharper. Free time provides the rejuvenation you need to restore your confidence and sense of well-being. You come back from time off with a new perspective, a higher energy level, increased creativity, and often, a breakthrough idea. When things get busy or when business gets tough, its easy to let your attitude slip. Yet, this is when you most need your positive attitude. Your attitude influences your actions. When you really need positive action, remember that "it¹s all in your head." Enjoy the journey! (Gary Lockwood is a Business Coach, Speaker and Publisher of the BizSuccess Coaching Program. Contact him at (800) 272-1575, Fax: (760) 770-0868 Email: Gary@BizSuccess.com) ++++++++++++++++++++++++ NETWORKING YOUR WAY TO BUSINESS
SUCCESS Running a successful business used to be dependent on what you knew. Then, who you knew became important. In today's economy, it is far more critical to what you extent you know someone. So it's not what you know or who you know, but how well you know them that really determines the amount of business that can be generated by a contact. Networking is the process of meeting people (also known as contacts), either through a contact that you initiate or through an introduction by a third party. Networking allows you to meet, and establish a relationship with, people who may not have heard of your business through any other means. Like the name implies, this is work! It's not called Net-sit, Net-talk, or Net-eat. It's Net-work!! In order to make it productive for you, you need to learn proper way to do it. There are some important steps to follow for successful networking: Pick Your Functions To Attend Business people like to associate with other business people, so attend functions where these types of people will be. Pick those functions carefully. Make sure that the purpose of the function is to promote business and not just to socialize. Chambers of Commerce gatherings, trade shows, and networking organizations are excellent sources of business leads. The people who attend these are there for the same reason you are- to meet new people and to develop new business relationships. Social functions are fun and relaxing, but a person trying to do business or make contacts there could be very disappointed. Be Prepared Dress appropriately- you are a representation of the type of work that you do. First impression advertising can make you the most money or be the most expensive advertising you will ever invest in if it causes you to lose business. Always have a supply of business cards on you at all times. I know a man who met a prospective client from a large company while swimming in a pool in a hotel in Hawaii, while on vacation. He landed an account with the firm when he produced a business card (laminated of course), from his swimming trunks. Make a Good Presentation Remember that you know more about your business than your prospective client needs to on a first meeting. Save the details of your product or service for a second meeting unless specifically asked about them by the prospect. If you overwhelm them with information, you may never have chance to determine how you can help them with a problem they may have. The key to successful businesses is in solving problems for clients in a fair, efficient and cost effective way. Mining for Referrals All-important referrals come from happy clients. A referral from a client is a reflection of their judgment as well as a compliment to you and your product or service. Be sure to send out "thank You" cards to people who refer you business. Thank them for the opportunity to service their acquaintance and to perhaps help them in the future, as well. Networking is done at any time of day- morning , noon and night. One of the nicest benefits is the friendships you can make while pursuing common goals. -- (Contact Nancy Roebke at ProfNet@emi.net or visit ProfNet, Inc at ProfNet@emi.net http://www.ProfNet.org) ++++++++++++++++++++++++ THE AIDA FORMULA
I recently came across the AIDA formula. It is a fantastic little tool for helping you write those killer classified ads and sales letters we all need so badly. Did you know that you can make your ads pull a 100% greater response just by changing your headline? Well that is why AIDA is so important. Run the AIDA formula against
all your sales literature and you will soon be creating winning ad copy.
A = Attention: Make sure your headline catches your readers attention. It must excite them just by seeing it. Make sure your headline either reveals or conceals a common interest. Consider a concern that a large percentage of your target market has and use that as the theme of your headline. Here are a few you can use: 1) To people who want to quit
work someday I = Interest: Interest is created by giving your potential customer multiple benefits that will enhance their life. Remember, customers buy on benefits not on features. D = Desire: You can build desire by making your offer irresistible. Include heaps of free bonuses (they can keep even if they return your product) Include an iron clad, no risk guarantee. Also it is important to build urgency into every offer. Order now in the next 72 hours and you will get this free bonus. A = Action. Last but most important. Your sales piece must have a call to action. You must ask your customer to buy. If you have captured their attention, over-whelmed them with benefits and created an undeniable desire thru free bonuses and the best guarantee, you must ask them to buy. You also must make it so easy for them to buy ( as many payment methods as possible) that they will feel left out or disappointed if they don't. Short and sweet. Run the AIDA formula against every piece of sales literature you are currently using and against every piece you create. It takes time in the beginning but as this concept becomes ingrained, you will find your self writing better and better ad copy. (Kevin Needham, publisher of the Inet Exchange, a free weekly Ezine mailto:subscribe@inetexchange.com) Return to top of page - Back to Home Page - Back to Archive Index |