Archive for 'Trial And Error'

Who Needs A Business Advisor?

Wednesday, June 24th, 2009 at 10:25 pm  
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The simple answer to the seemingly complex question of “Who needs a business advisor?” is … everyone responsible for operating a business. That’s right. The Fortune 50 CEO to the one-person show needs an advisor.

The CEO of a public company has mentors as well as a board of directors to turn to. They often don’t have a choice of who their advisors are but small business owners do. Unfortunately, with this choice of advisors comes another choice that is often made instead. That choice is to not get any help at all.

Not getting any help at all is very often the cause of the business failure statistics we hear so much about. The small business owner will often claim that they don’t have the time or money for an advisor. Think about that comment. How can you not have the money to get help from someone that can potentially save or make you more money since you obviously are not getting it done on your own? Or how about that time you are lacking? Maybe if that owner sat down for an hour with an advisor, they would be able to see why they don’t have time and do something about it with the help of someone who has already been in those shoes.

A coach or advisor gives to small business owners something most of them don’t have; a sounding board and a board of directors to turn to for advice. These are two great resources to use when trying to avoid “trial and error” decisions and processes.

I’m not knocking trial and error as the way to learn things. I’ve personally used that method and faired well in many cases. But that is a case-by-case basis, not for on-going daily concerns. Don’t forget that this method is also very costly and time consuming. Why not ask someone who has probably already faced the problem?

What many business owners do not realize is that they rarely go through any trials and tribulations that someone else has never dealt with. Not to mention that about 70-75% of their business is the same as every other business including HR, finances, sales, marketing and funding. The other 25-30% is industry specific.

Small to mid sized business owners take away much more from an advisor than big businesses. This, if for no other reason, is the case because the smaller companies have owners that wear a lot of hats. Many of those hats take time away from the things the owner actually needs to make a priority to see their company succeed. Things they should be doing that they don’t have time to get to or things they are taking care of that they have no experience in doing. These situations take away from them doing what they do best. That’s a problem.

The question now is how to find an advisor. There are many types of business advisors out there. Some are purely “coaches” and others are true developers and implementers that will roll up their sleeves with you when asked to. It’s up to you to pick the type of person you want or need. Here are a few things to think about:

- Do they click with your personality? There are many good advisors out there but if they don’t click with you as a “business friend”, don’t bother with them because you will end up fighting them even when you agree on the advice.

- Have they owned a small business before? Gray hair does not equal business ownership knowledge. I promise you that the ex-CEO or Senior manager from a huge company knows very little about successfully operating a small business. These are two significantly different worlds.

- Don’t worry if a potential advisor doesn’t know your specific industry. Remember that a lot of your troubles have nothing to do with your industry. It would help though if the advisor had contacts/resources for you in your industry for when specific problems are addressed.

- Look for flexibility. A potential advisor that pushes for more than 20 hours a month of your time from day one is probably out for money. Until they start working with you, there is no way of knowing that they need that much time per month to meet your goals and timelines. A good advisor will understand that you have made a commitment to get back on track just by the fact that you are talking to them. They shouldn’t need to try and get a ridiculous time/money commitment from you if they want to help.

- Make it a local thing. This suggestion is a two-part issue. First, the advisor should agree that when face time is needed that they come to you. Second, there is absolutely no reason why a small business with locations in one state needs a business advisor that must fly in or travel more than 2 hours to see them. These companies somehow find suckers to take their so-so advice and huge reports full of fluff and also pay for travel costs. There are plenty of advisors local to every company in this country. Yes, even in Hawaii.

Once you made the very intelligent decision of getting help in making your business a success, keep a few things in mind. You should really commit to working with your advisor for a good 6 months. Nothing gets fixed overnight. Also, since you are paying for it, please do yourself a favor and be open to suggestions, bring important things to your advisor for help in making a decision and make the use of your time with the advisor a priority. Don’t forget that an advisor or coach should never make a decision for you. It’s your company, they are there to make suggestions and guide you.

Working with an advisor can be a very enlightening experience. You will start to see the forest from the trees and not feel like you are the only person on the planet going through tough times as a business owner.

All business owners eventually need help. The successful ones put aside their pride and desire to be at the center of all aspects of the company and get the help. Do yourself and your company a favor and be one of the truly successful business owners. Get an advisor and get all you can out of them. If your advisor loves what he/she does for a living as such as you love what you do, you can’t go wrong.

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Building A Website The Easy Way

Monday, June 22nd, 2009 at 9:32 pm  
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Being an entrepreneur, I was anxious to stake my claim on the web and join the community of those who were making a living online. The only problem was, I didn’t have a clue how to build a website or the patience or time to learn all that code.

So, what did I do? I started a search for an easy website creator. My thinking was surely some ambitious entrepreneur had already realized the earnings potential of a website builder for the do-it-yourself person? As you can probably guess, I found one. Well, actually, I found quite a few. Of course, back then there weren’t nearly as many options on the fiber optic highway as there are today…so my selection was a bit limited when compared to today’s market. Back then was approximately six years ago, which at the speed of changing technology might as well have been the ice age.

I made my selection and started building a website. Was it easy? No. Remember I was inexperienced and soon learned that not all site builders are alike. My first attempt was definitely with a stone age product in a modern day world. Believing that all products, from a well-known company, are surely quality was my first mistake. While this company offered several affordable services and quality products, their easy website builder wasn’t one of them.

I began my search again. This time, however, I relied on the feedback from other website builders like myself. Hence, ask someone who has already been there, done that. After garnering a few referrals, I set out to try the mentioned services and finally settled on one.

Am I happy with my choice? Absolutely! So happy in fact I saved my money, earned on the web, and purchased a partner’s program with the company. You see, I was referring so many people to their services, I finally wised up and realized I might as well be earning from all those referrals….and now I am.

After much trial and error, I did learn a few important keys to online success and building a website. Here are a few tips to help you get started and stake your claim on the world wide web:

•Target your market. Don’t try to be a website for everything. Find your niche and fine tune your site to match.
•Stay away from dark background colors and wallpaper. Keep your site clean and easy to navigate.
•Add quality content. Keep your site content fresh and updated.
•Quality link exchanges do work. Exchange links with websites that fit the demographics of your site. Stay away from link farms.

Now that you have your website online, marketing and maintaining your site will be the key. It’s not like the movie, “The Field of Dreams – If you build it, they will come.” If you don’t market your website, guess what? They don’t come. It’s that simple.

Marketing is such a big and hot topic that I won’t go into it in this article, however, I do suggest doing a search on the web for keywords, “website marketing.” You will discover there are millions of responses and endless information and debate on what is the best solution. My experience: there is simply no one solution for this issue as the internet is ever changing and updating. Make time to read and learn about marketing your business online and locally. There are many great resources on the web which can help you stay informed and updated.

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Choosing The Right Home Based Business – Then Working It For Profits

Friday, June 12th, 2009 at 12:49 pm  
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Have you thought about owning your own business from home? The benefits can be remarkable. You can earn an excellent full-time or part-time income, often just working a few hours per week.

In no time, you will be saying goodbye to the J.O.B, the boss, the commute, and earning less than you’re worth. Even though this sounds good (and it IS good), profiting in your business from home is not a given.

Home based businesses have a very high failure rate. Most people get an idea for a business, then start out with little more than a hope and a prayer. Granted, a few do succeed, slowly finding their way by trial and error. But the School of Hard Knocks can be expensive and time consuming, with 97% of those who try giving up in frustration.

That’s why I always urge people to base their home business around a well thought out direct sales opportunity. Direct sales provides for high commissions — much higher than MLM — and greater stability. I’ve found, and industry statistics bear this out, direct sales is probably the easiest way to earn a good income from home in a truly serious business of your own.

Follow these tips to greatly increase your chances of success:

1. Insist the opportunity you chose has a proven marketing system that is easy for you to duplicate. Don’t try to reinvent the wheel. Get a good plan, then work the plan consistently for a year to 18 months to achieve consistent profits.

2. Build your success on the success of others. Big profits always come from teamwork. When you can help others earn while profiting from their hard work, you’ve got the key to rapidly accruing profits.

3. Make sure the products and company are something you’ll be proud to put your name on. Representing a great product isn’t hard at all. You’ll be happy to tell your friends, family, and prospects — and they’ll be delighted to hear what you have to say.

4. The business you chose should be built on integrity. Far too many businesses online are based on ripping people off. While that can earn you some money in the beginning, shaky deals always fall apart fast. Stay away!

5. Your home-based business should improve your life, let you work fewer hours, and give you more flexibility to be there for family and pursue your interests. Knowing your business is making your life better will keep you going through the tough times and spur you on to greater heights.

Earning money from home using a duplicable marketing system and applying it to big profit products that benefit everyone is a remarkable experience. You’ll find direct sales is your path to home-based success.

Written by Ricco Richardson
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