Hiring People to help you with your Business -

I was just contacted by someone who has a small business that they run out of their home office.  This is the type of client that I really enjoy working with...why, because there are so many things I can help them with besides getting their books set up or cleaned up. 

As I've written before, this economy has created new opportunities for people who would otherwise be gainfully employed.  People are going down new paths by starting their own businesses or exploring self-employment or contract work.  Often these folks are just moving forward quickly without much planning.  In fact, I think it is probably the rare individual who actually takes the time to do a formal plan...at least that's been my experience.  Of course many self-employed people are providing services and those types of businesses are pretty easy to get started.  Low overhead, low cash outlay.  But even these people need help recording their transactions and keeping organized so tax season isn't a fiasco... which brings me back to what I wanted to mention here.

It is very important when you are meeting with your new bookkeeper, insurance broker, graphic designer or even attorney that you have enough conversation to determine if they are listening.  I have met with people who fired their last bookkeeper or insurance agent or???? because they didn't believe that the individual was listening to them or understood where they were coming from.  No matter how experienced, talented or informed they may be, if they are not good listeners, over time, things will probably get off track and you will become frustrated and not even realize why.
Listening is an important skill for anybody.  Without this skill you will be missing one of the most critical factors in developing a relationship with your client.  When you can listen and actually encapsulate what was expressed to you and repeat it back ... you will be surprised at the reaction of the party on the other side.  Why?  Because when someone feels they have been heard they are more likely to move forward with this person whether it is a business relationship or a personal relationship. When you know you are heard...that this person "gets you" you are far more likely to want to work with the person.  The same is true for people you interview to work for you.  If they cannot reiterate what you've told them then something is missing.  There is nothing more frustrating than having people around you who don't listen.  There is enough on your plate without adding this variable to your otherwise busy life.

So once you've determined that someone has the skills to do the job you want them to do, take the additional time to test their listening skills - then decide if you want this person on your team!

How do you arrive at the right price for your product or service?

I was just asked by a business associate, how did I went about arriving at pricing for my services and I explained to him that I started out many years with a figure based on my experience and a few calls...but as the years went by I raised my price to it's current level.  The per hour rate I charge is not based on my overhead but more on the type of service I provide plus a bit of a premium that helps offset other miscellaneous costs.  It's not very scientific but again, it's an evolving factor in my service business.  I am selling a personal business specialist that can help you manage your personal finances or your small business issues.

Now that sounds good, in theory, but as all of us business owners know...it doesn't matter how good it sounds to us if no one is willing to pay for our product or service.  That's where the cold hard facts of reality set in.  No matter how talented you are or how educated you are, the customer you are seeking is still only going to pay what they think your product or service is worth.  Now more than ever, customers are shopping.  They may be willing to pay a little more in some instances but usually they need to be convinced of the 'value add' you are bringing to the table that will justify the premium they will be paying.  So we all need to do our homework when it comes to setting the price point that gets the job or sells the product.  It's part of the job that we all struggle with and trusting your gut might work but there needs to be a little more involved if you're going to get it right and build your business.

Norm Brodsky who is an entrepreneur and writer for INC. Magazine shared some good advice in his column when someone asked him the question, how do you set the price for your product or service.  Solving-the-pricing-riddle?   Hope it gets you thinking and working on finding the right formula that will work for you.

Short & Sweet and to the point that deserves a reminder!

The other day I was reviewed  a list I have of motivational business quotes and this is the one that struck me as being important considering all of us are building our future business in challenging times, wondering will it work?  Is the business out there?  Are we crazy???  The following quote summed up what I think are the most important points we need to remember:

"Success in business requires training and discipline and hard work.  But if you're not frightened b these things, the opportunities are just as great today as they ever were."

David Rockefeller

Anyone who has reached any level of success has had to become good at all three parts.  Learning a skill, trade or profession takes training...be it on-the-job, school or the hard knocks of life but becoming an individual who is trained at something is the first step. 

Next is discipline.  I have almost had a romantic notion about writing and how wonderful a life it would be to be an author.  But when I've read interviews with successful authors what stood out was the discipline by which they met each day.  Write write write...each day, every day.  And finally, hard work.  There are those people who think that success just happens.  Let me correct that thought...success does happen after hard work that is consistent, focused and disciplined.

If you can integrate these three ideas into your goal of building a business the odds are with you that you will be successful...why?  Because most people give up too easily; too quickly and find success much to "hard" to achieve.  You know differently so go for it!

Starting the Business...am I crazy?

It has been a while since I've written and it is because staying positive when on your own is a challenge and sometimes a struggle.  There are no two ways about it.  What can I say?  Any of you who are struggling to build your business or working hard to maintain it knows the feeling.  You feel good about things one day but then something changes whether it's a check that doesn't arrive or a call that doesn't come or results that seem so far below any expectation...the day seems dark and you begin to doubt if all your efforts will work.

I am almost two full months into this state of mind and as I read through my daily diary I see how my marketing efforts were full out in the beginning and now have slowed down.  It's time to "hit it and hit it hard" as my father used to say!  I will confess that I finally purchased a laser printer so the letters printed looked a bit better than my old printer.  That was a good investment.  However, I still need to revisit the first mailings and send the second.  Followup...followup...followup...that is the key to building.

I have a friend who has been in sales all his life.  In fact that is how we met back in 1975.  Back then he was the top salesman for his company winning trips every year to exotic places.  He knew how to sell.  Now 35 years later he continues to be successful and continues to win those trips.  In fact about a month ago he and his wife went on a trip to the Bahamas...yes, he won this.  However, over the span of 35 years, through all kinds of economic times and with the pressure of family [kids in college etc] he has continued to be a top salesman.  He has always been an inspiration to me.

By nature I'm not a born saleswoman.  I'm basically shy and my type of work has not required such talents to be developed.  High time to start...but in fact now is a great time to start.  What better time to feel confident about the services I have to sell?  I have over 30 years of experience working in all types of business environments, over 15 years working specifically with individuals and small businesses and a Masters Degree in Psychology with training and experience as a marriage & family therapist.  What better time to feel good and confident about what I have to offer?

So the same holds true for all of you who are in my position.  Remember that you have paid your dues in experimenting, learning, trying & educating yourself in the ways of business.  What better time to sell that experience and feel good about what you have to offer your client or customer?  Don't forget that you can not be all things to all customers...just identify what you are good at and work that skill.  If you persevere and believe in yourself and work hard, you too will become successful.

Getting Motivated while under the gun!

If you are reading this you too are trying to find ways to keep going...keep moving forward.  I know because that's what I'm trying to do by getting connected to others who are walking in the same shoes (though probably different size.)

When I think about how many people out there are unemployed I say to myself...wow!  Now there's opportunities for all those folks out there just waiting to be seized and delivered.  What you say?  Yep, if you have worked for a number of years or possibly many years like I have, certainly you have developed skills and talents that people will buy.  Now is a great time to test the waters.  Why not?  If you're still looking for a job you have time to be creative.  Why not sit down and discover what area(s) you are truly talented in and is there a market for this talent?  Surely opening your mind to the possibilities of turning those skills / talents into self-employment cannot be bad.  As I have mentioned in a prior posting, many small businesses evolve from individuals like you and me who are 'technicians' in a particular field.  Bookkeeping, accounting, computer programming, technical engineers, plumbers, etc etc.

Why not sit down (with all this time if you are unemployed) and think about these questions:  what skills do I have that others need?  and  Is there a market for them?

In an economy where companies are downsizing, businesses cannot afford to have full time staff in all the necessary areas, it's possible you could secure some work as a contract worker or as a self-employed individual.

Let me know your thoughts.