This week in small business: Entrepreneurship (articles) on the rise!
I’ve really noticed an uptick in the publication and popularity of entrepreneurship articles recently. I hope that it signals a new surge in startups and business formation. That, more than anything coming out of Washington D.C., would serve as a national “pick-me-up” both economically and emotionally. Entrepreneurship, startups, and innovation Writing for the Salesforce blog, Cassidy Tucker explains why trust is critical for startup success. You’ll probably be surprised by the book “Rich Dad” author Robert Kiyosaki says every entrepreneur should read in this article by Barbara Kollmeyer and Jessica Marmor Shaw. Get the lowdown on bootstrapping in Jonathan Chan’s piece on how 11 entrepreneurs bootstrapped their way to success. Learn from the mistakes Natalie Davis’ team made: How to Retain Your Top Marketing Talent: 6 Lessons We Learned the Hard Way. Nigerian Chidike Samuelson chronicles his journey from employee to entrepreneur in this article. The fundamentals are covered in Marco Zhou’s Financial Buzz piece, “What you should do to succeed as an Entrepreneur.” Stephanie Melish hit a homerun with her Entrepreneur article, “4 Marketing Lessons Entrepreneurs Can Learn From April the Giraffe.” “You can often change your circumstances by changing your attitude.” – Eleanor Roosevelt Leadership, management, and productivity Check out Laura Emily Dunn’s “Women in Business Q&A: Paula Downey, President and Chief Executive Officer, CSAA Insurance Group, a AAA Insurer.” This Aileron post on Forbes suggests the best accountability strategies for a small business. “Life is a succession of lessons which must be lived to be understood.” – Hellen Keller Marketing and sales Malia Keirsey’s “9 Effective SEO Techniques That Will Explode Your Traffic” article is an excellent introduction to the most important SEO principles you need to understand. To reinforce this, also take a look at Brian Rashid’s “What Every Business Owner Must Know About SEO.” Jordan Kasteler does a good job covering the symbiotic relationship between social media and content marketing in this MarketingLand article. Believe it or not, Hurdlr has condensed more than 16,000 books on sales into nine tips. Move over H.G. Wells! Will Burns says that the time machine is marketing’s latest invention! Haters gonna hate, so you need to know how to protect yourself from the most common negative SEO attacks. James Newhouse explains. Politics, government, and the economy Uh-oh! If Jeremy Hill is right, the U.S. economy is weaker than we think. (Hear that, Janet Yellin?) Melanie Arter covers President Trump signing bills to support women entrepreneurs and women in STEM fields. If “globalization” is taking a U-turn, productivity could be the big loser, says Jeanna...
read more4 Reasons Why This Will be the Year of the Woman Entrepreneur
I’ve been an entrepreneur for most of my life. In part, that could be because I’m the only child of a mother who started her first business in the late 1940s. Imagine what it must have been like for her. After the war, very few women even worked outside the home. Times have changed. During Women’s History Month, it’s good to reflect on pioneering women like my mother who broke through barriers to create more opportunities for the next generation. Women have definitely made significant strides in terms of business ownership. According to the most recent Census Bureau, 36 percent of all businesses are owned by women. For at least the past decade, we’ve been told that women are starting businesses at twice the rate of men. The problem: Very few ever gross more than a million dollars in revenue. The first time I grew a business to a million-dollar-plus entity, I became intrigued by this statistic. At the time, (2006) fewer than three percent of women business owners were members of that elite club. So I wrote “The Girls’ Guide to Building a Million Dollar Business” to help other women build successful enterprises. After all this time, you’d think things would be getting better. Sadly, I recently discovered an article on Forbes.com which noted that now fewer than two percent of women-owned firms become million dollar businesses. So where does that leave us? In my opinion, this could be the year where the tides change, and women business owners come into there own. Here’s my take. 1. The Crowdfunding Phenomenon. Obtaining the necessary capital to start or expand a business is challenging, but it has been a particular obstacle for women-owned business. Now, after the passage of the Jumpstart Our Business Startups Act (JOBS Act) which, among other things, was intended to make it legal for non-accredited investors to own shares (equity) in companies raising funds through crowdfunding platforms, the Securities and Exchange Commission finally approved the regulatory structure. This should open up a vast, new source of capital for small business growth. Equity capital is often used by fast-growth companies, but women-owned firms only receive a very small percentage. This changes the game for women who want to grow and expand their enterprises — taking them to the next level of success. 2. The Good ‘Ole Girls Network is Alive and Well. Virtually non-existent 20 years ago, there are many more targeted programs to help women succeed. For example, I participated in a venture capital boot camp through Springboard Enterprises, which trains women how to pitch to venture capitalists. Additionally, there are organizations such as the National Women’s Business Owner Council (NWBOC) and the Women Business Enterprise National Council (WBENC) that provide third-party certification and training to women-owned businesses to help them obtain corporate contracts. Through organizations such as these, women are learning to partner to compete for larger contracts providing them with greater growth opportunities. 3. Technology enhances growth opportunities. In the late ’80s I had a small advertising agency. I was so excited when I got a fax machine for the office. A virtual work environment – what’s that? Now, technology gives women the opportunity to start businesses from their guest room and do business around the globe. But even more significant is the plethora of...
read moreWomen in Business: 8 Tips to Help You Exude Confidence at Work
Sheryl Sandberg introduced the concept of “leaning in” as an aspect of body language that aids people with their career development. Sandberg makes the argument that women in corporate and professional environments fail to get ahead due in part to body language that reflects poor self-confidence. The following tips will boost your confidence at work and help you garner respect. Stand tall Stand straight with your shoulders back and head up. This stance gives off an air of confidence that just isn’t there when you slouch. Make use of height and space; it’s a nonverbal way of demonstrating you are prepared to negotiate or discuss business. Make eye contact People expect eye contact and tend to distrust those who look away or cannot meet their eyes. Always make eye contact when saying hello and goodbye to someone. Need a cue to determine if you’re doing it for an appropriate length of time? Look long enough to know the person’s eye color. Perfect your handshake A good handshake is vital. Clammy hands and a light grip give the impression you are “soft” and won’t remain firm in your decisions; a crushing handshake indicates you may be willing to bully your way to gain approval. Practice your handshake with a friend or family member to find the right balance of firm and pleasant. Smile People might underestimate the importance of a smile, but smiling makes a positive impression on just about everyone. It shows your colleagues or other professionals that you are approachable, and in the face of an obstacle, it demonstrates you can tackle the problem in an uplifting but realistic manner. Invest in a business suit Purchase a well-tailored business suit that flatters your body type. You want to look polished and feel comfortable. Don’t be afraid to splurge on this staple, it will help in every facet of your professional life. Looking the part will help you gain an edge when negotiating or giving a presentation. The last distraction you need is fidgeting with your outfit or fumbling with a button that fits too snug. Any amount of distraction might diminish your ability to effectively present your argument or stance. Accessorize Accessories can really bring your at-work look together and bolster your confidence, but make certain you choose pieces that are appropriate for the workplace. Wear unscuffed shoes with a flattering heel to help you stand tall and exude confidence. Carry a classic, well-made handbag and keep jewelry understated and simple—a small pair of earrings, a watch and a bracelet should work well. Use perfume sparingly Smelling good is important, of course, but don’t overpower the room with a strong scent. A subtle and light body spray will do. Keep hair & makeup professional Don’t show up at work with wet or unkempt hair or heavily painted-on makeup. Pick colors that are suitable for a workplace environment. Attire and body language feed into one another, and by presenting your best self, you’re in the best position to be viewed as a professional, competent woman who means...
read moreWomen’s History Month Tribute to Pioneering Entrepreneur: My Mother!
Every year during Women’s History Month, my thoughts turn to my mother. Why? Because my mom was a pioneer in the field of women business ownership. Mom became an entrepreneur at the end of World War II which was unheard of in those days. The war left her a young widow, and she was determined to provide for herself. Partnering with her brother who was just returning from the war, they pooled their resources and opened a furniture store in a rural Missouri town. I’ve heard many great stories about my mother’s ability to sell! She was a dynamo, and the business thrived as a result. Then, Cupid’s arrow struck again when my mother met the man who became her second husband, my father. Dad worked in a town about 60 miles away from where my mother lived so when they got married, mom sold her interest in the furniture store and moved to the town where dad was employed. Being a traditional wife didn’t appeal to my mom. So she found a business to buy – a children’s clothing store – which became Wilson’s Tot Shop. Her timing was interesting given the fact my birth was only months away. Her success with the children’s shop mirrored what she had enjoyed in the furniture business, and she expanded adding women’s clothing, gifts and dry goods. With no business or marketing education, she inherently knew how to build her customer base. The front page of an old local newspaper shows a picture of my mother in her shop with a package ready to ship to Queen Elizabeth as a gift for the newly born Prince Andrew. She knew how to get the press! As Dad watched my mother’s business grow, the entrepreneurial bug bit him. Employed as a funeral director at one of the town’s well-established funeral homes, he decided it was time to strike out on his own. So in 1963, my mom and dad became business partners and founded Wilson Funeral Home. Together they made a great team. Mom ran the business operations and my Dad had an admirable ability to build strong customer relationships. Some people believed they’d never make it to Heaven unless my Dad took care of their final arrangements. For a few years, mom tried to juggle the clothing store and the funeral home, but it became too much so she sold the clothing store. Because of their professionalism and commitment to the community, my parent’s business prospered, and they eventually succeeded in acquiring both of their competitors. They sold the business it in 1999 Mom passed away in 2001 with Alzheimer’s. My biggest regret is never spending time with her learning what it was like to be a woman business owner in the “June Clever” era. Despite the challenges and discrimination I know she dealt with she managed to succeed. And when I start to think life isn’t fair, all I have to do is stop to think about my mom who did it without the resources women business owners have today. I love to hear the stories people share with me about her courage and leadership. The former high school band teacher told me my mother single-handedly raised $20,000 to purchase new band uniforms. A local hair stylist shared the story of...
read moreThis week in small business: Plenty of lists to put on your refrigerator door
This week’s top content from around the online world features a lot of lists. Lists as short as one item to lists as long as 50 items. So you have no excuse to be listless this week. Sorry. Leadership, management, and productivity To outsource, or not to outsource; that is the question! And Nash Riggins lists and explains 20 advantages and disadvantages of small biz outsourcing to help us answer that question. As we enter the season of March Madness, John Greathouse’s article, “These Sports Are Precursors To Business Success,” makes good reading. Here’s some timely encouragement and coaching from Tamiko Cuellar: “Women Leaders: How To Make The Leap To Owning Your Own Business.” Entrepreneur Kelsey Humphreys talks to “happiness” expert Gretchen Rubin and gives us a blueprint for redesigning our lives for success and happiness. Aaron Agius tells us how to get our marketing and SEO teams to play nice with each other in his Entrepreneur article. Want to compete against the big boys and girls? Pius Boachie offers four tactics to help you take your bite out of the apple. Scott Shane tells us how our smart phones can cut our accounting costs. Can you hear him now? “You don’t get any points in life for doing things the hard way.” – Tim Fargo Marketing and sales Need to top off your tank of social media marketing tips? Here are 50 from Carlo Pacis. And, one specific area where many of us can use tips, is in developing a social media marketing schedule. That’s what Steve Hamm does here. Anyone charged with leveraging social media to market a startup will find Arachika Kapoor’s article useful. Do it wrong and social media will actually hurt your business, warns Pia Silva. Good, practical advice is found in this Deirdre Kelly article on creating Instagram lead ads. I love short lists, so I’m a big fan of Jim Keenan’s “The One Thing Sales Organizations Should Do To Increase Revenue In 2017.” Looking for a succinct primer on how to approach online marketing for your small business? This article by Jayne Kendall is it. Writing for the StarTribune, Harvey Mackay contends that sales is everyone’s job – no matter the business. Entrepreneurship, startups, and innovation Marguerite Ward takes us on a tour of the eight books Elon Musk credits for his success. The reasons we’ve been given why so many startups fail are a bunch of hooey, says Ron Shah. For an industrial-strength dose of inspiration, check out Peter Daisyme’s list of 50 entrepreneurs to watch in 2017. “I’ll try.” That’s one of the 50 things entrepreneurs never say in this thoughtful list pulled together by Andrew Thomas. And like a nice cabernet and good steak, that article pairs nicely with Andrew Deen’s “5 Essential Qualities Every Entrepreneur Should Have.” “To invent, you need a good imagination and a pile of junk.” – Thomas Edison...
read more11 email marketing ideas you can use now
It’s a fact of human nature that when we are presented with the same thing over and over again, we become desensitized to it. If you’ve driven the same commute route for years, there are probably days when you get to work and you realize that you didn’t notice anything along the way. It can be scary. For this reason, it’s important to mix up what you present to your customers and prospects. That’s why I’ve pulled together 11 email marketing ideas for you to use to freshen up your email campaigns. Some of these email marketing ideas are fairly specific, others are more like “categories” or “genres” of emails that will interest your list. See how many would be seen as new to your recipients. Velvet rope emails. You’ve probably seen doormen at hot night clubs man the “velvet rope.” It’s where people line up to get in, but only privileged individuals make it past the velvet rope. In email marketing, these are exclusive offers or information that isn’t available to the general public. Unadvertised sales, articles not published on your blog, early access to sale prices, and “sneak peeks” would fall under this category. Feedback emails. These emails are asking to hear from the recipients. They can be polls, a simple survey question or two, or an invitation to submit general feedback on a topic or proposal. I’ve found that these get a good response. Many email service providers have built-in polling features, otherwise, you can direct your list to an online poll or survey. Breaking news emails. People on your list will be pleased to get the latest news about your business. If you’re retail, this could be what you’re ordering for the next season. For B2B, it could be future plans based on how you see your industry evolving. Additions to your staff might be appropriate. ‘Best of’ emails. Pulling together a “Best Blogs of 2016” for example, is a sure winner. Look at which of your posts got the most views and link to those in an email. It’s like crowdsourcing great content. If you’re retail, feature your biggest sellers over a given period of time. This is one of the email marketing ideas that’s easy to pull off. Special date emails. Make good use of special dates and seasons. This includes holidays, customer anniversaries, and the four seasons. These alone can give you at least 10 to 15 nicely targeted emails each year. Sales and coupons emails. I suspect most of you are doing this already, but if not, here it is! Followup emails. If you’ve sent out a sale notice, for example, follow it up when the end date draws near. A ticking time clock is a great motivator. In the same way, re-promoting an event using an angle like “Only 12 seats left!” works extremely well. Leverage scarcity and fear of missing out (FOMO), whenever you can. (By the way, FOMO is a major motivator among Millennials, as Kate Taylor explains in her Entrepreneur article.) ‘We miss you’ emails. Brick and mortar businesses need a loyalty program to pull this one off, it shouldn’t be any problem for an online-only business. After a few months of not engaging with a customer, send an email and include some kind of discount. Keeping...
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