Small Business Advice – Are You Tempted to Ride the Popular Wave?

Each and every day in the USA alone, more than 2,500 new businesses are started. Many of them are sole proprietorships created by people leaving careers behind and looking forward to a business that allows them flexibility and success on their own terms.

In 2007 I followed the same steps that many of you did. When I filed my business officially that year, I looked for knowledge and guidance to teach me what I needed to know to run a successful, home-based business. I went to the typical startup sources, like government agencies, local business development organizations, and the bookstore. I was disappointed to find that most of it really didn’t apply to me and was instead directed at a typical bricks and mortar or consulting businesses working in a typical office setting. On the internet, I found lots of information, almost too much, and it took me a lot of time to sort through it. I remember feeling overwhelmed and having to push down a rising sense of panic that I’d never master any of it, and would fail if I missed any important nugget.

It seemed like every second click led to “six figure secrets unveiled” and the “ten ways to make your fortune online.” As a business and marketing advisor, and someone who spent over 20 years in the marketing profession already, I remember thinking how fortunate I not having to learn it all from the beginning. But using the internet as a marketing tool to build a virtual business was new to me, so I signed up for more free classes, paid products and other offers than I could keep up with!

Since that time, I’ve worked with many entrepreneurs and I’ve heard a lot of discouraging stories of time, money and precious energy being wasted as a result of receiving overpromised, under delivered, inappropriate, ill timed or just plain bad advice. Here’s what can happen when you find yourself steered off your path:

• Your marketing can start to be really inauthentic, confusing your audience and making you feel like an impostor (or at the least, highly uncomfortable).
• You can develop a business that just doesn’t fit you, and feels like a chore instead of a joy.
• You can waste money on the latest hot ticket idea only to find it isn’t what your clients want, and it isn’t feeling good for you either.
• You create a business that sets you up to be your own employee, instead of your own boss.

So, here are some tips to help you stay focused and to navigate the choices wisely.

• Steer clear of anyone who tells you there’s only one way to do something. This is simply not true. It’s your business, and you have unlimited choice and possibility to create it the way that fits you.
• Watch out for the popular, hot ticket ideas. Like any other industry, there are trends and cycles. Evaluate these ideas carefully, and always measure them against what you want in your business, what your clients and market is asking for, and what they’re willing to pay for it. Riding the popular wave only works if you get on it before it peaks, and before it blends, indistinguishably, into the shore. If you’re not sure, invest in a second opinion before you go too far.
• Realize that throwing more and more money at a problem doesn’t mean you can fix it. If you don’t have a solid business idea, a clearly defined solution for a specific market, and a strong foundation for your business and marketing, no amount of window dressing is going to help.

And the most important of all? Entrepreneur, know thyself. Be clear about what you want, and when you seek advice or opinions, or learn from others, be sure you are “delegating” and not “abdicating.”

Want to use this article? You can as long as you include this footer: Sherri Garrity is the Chief Corporate Fugitive and creator of the Five Keys Success System™  for ex-corporate employees and aspiring entrepreneurs who want to break free from the confines of their corporate experience and live outside of the ordinary. The Corporate Fugitive system demystifies the business of setting up, managing, marketing and growing a successful and extraordinary business. Visit www.corporatefugitive.com for information and step-by-step resources to take you from overwhelmed employee to extraordinary entrepreneur.

What’s your cash infusion plan for 2010?

It’s Black Friday in the USA, a traditional day of spending and the start of the Christmas countdown. So are you heading out there, ready to lavishly spend the results of your hard work on treasures for your loved ones, and doing it with total peace of mind because you’re totally confident about your future cash flow, or does the thought of spending money you don’t have make you feel totally sick?

This is the time of year when your financial state – lacking or abundant – is impossible to ignore. The good news is that now is the PERFECT time to plan for a prosperous 2010.

If you aren’t making enough money (or any – let’s be honest, your business might be in the red or you might not be able to pay yourself), if you’re starting a brand new business, or taking your existing business in a new direction, you need to do the right things to get your business in the black. This could mean doing things a whole lot differently, or making some small adjustments that can make a massive difference to your bottom line.

I’m going to cover some of the biggest reasons that you might not be earning as much as you could, as well as some of the best strategies to turn this around, in a special presentation that’s happening next Thursday.

Think of this as your complimentary “cash infusion plan” and make sure you listen in. If you can’t make it live, listen to the recording – but do it soon after because there’s time sensitive information I’ll be sharing with you.

To get a download of this presentation, simply register by Clicking  HERE

Are You in Busy-ness or Business?

Have you ever worked with someone who constantly complains about how much work he or she has to do, and spends so much time on this activity that it’s no wonder why?

In the corporate world, this is the person who travels from cubicle to cubicle, dropping a trail of laments behind her. Or the one who can be counted upon to organize the next staff party, knows exactly who to call in the maintenance department, and whose Monday morning catch-ups last all day.

There’s nothing wrong with being helpful and sociable, whether in the 8-to-late environment or working for yourself, but there’s a world of difference between busy-ness and business.

Many business owners are stuck financially because they never learn this essential difference. So they’re continually busy, but their business doesn’t grow in spite of it.

When you’re in your own business it’s deceptively easy to be in busy-ness and not realize it. After all, there are so many moving parts that come with operating your own business, that you can be consumed daily with all of the little tasks that quickly add up.

When you’re busy, you’re most likely spending most of your time fulfilling client work and going from task to task on your to do list. One day tends to slide into the next, as you carry over items and find yourself fully occupied with correspondence, checking your email, dealing with phone calls and jumping in on the latest Twitter or Facebook stream.

Occasionally, you’ll vow to get serious about the “shoulds” on your list, like, planning ahead, working on your new website, and attending that upcoming networking meeting you’ve been too busy to attend for months.

This sporadic approach just isn’t going to get you where you want if you have goals of growing your business, getting more clients, taking regular vacations and making more money.

Successful business owners have mastered the art of getting the right things done, as well as knowing what those right things are. They’ve also put in place the kinds of structure necessary for their business. This allows them to focus on what is really important, as well as taking care of the day-to-day running of their business.

Many corporate fugitives, especially fresh out of the cubicle ones, shun structure as they see it as a flashback to their employee life. But the right structure is what will take you from busy-ness to business. Here are some examples of structure that make a big difference:

• Systems or procedures to handle the repeatable, predictable aspects of business in a consistent fashion (customer inquiries, sales, invoicing, are obvious examples)
• Delegation of work that can be done faster, better, cheaper by someone else, or that holds you back from the work that only you can do
• Automation of administrative functions like email and appointment setting – with the tools available today, you can save a ton of time by being more efficient
• Time set aside each week to work on business growing activities
• Clear areas of focus, week by week, month by month, year by year
• Specific and measureable goals

When you combine the use of systems and delegation, with a solid strategy for your business, you no longer wonder where the time goes, because you know exactly what you need to do and when. You spend a portion of your time working on client projects, and the rest of your time of activities that move your business forward, like developing new products or services, marketing, meeting with potential partners and new clients. Best of all, you aren’t left wondering where your time went, or what you need to do today!

If you’d like to learn more about building your business in a way that will get you these results, book a complimentary strategy session with Sherri today.