Did you make mistakes starting your business??

A friend and colleague emailed me that she's starting her own business and asked for my advice. It made me think about what I did right and what mistakes I made in starting my own business. I came up with my sage advice for her:


Some of the things that I wish I had done better -- were:

Number 1 and the biggest is the books. Right from the start set your bookkeeping up right. use a program like Quickbooks. I think I have every program except Quickbooks and there are many other good ones. I hear most people using Quickbooks. I use Microsoft Small Business Accounting. One of my greatest weaknesses in tracking money. This has been a challenge for me. I have studied the concepts and understand the bookkeeping. I have a couple of great books that I recommend, BUT they are packed for our move! I will add them to my blog once we unpack.

Operationalize! Creating effective and efficient operational procedures from the beginning is a key to success. Once you have them, you can tweak them as you need to. Operational procedures will aid you as you grow. They lay the foundation of how you do business and give your staff a framework to work in. Write down the procedures and keep them all in a centrally located binder. But also important is to follow them!! Many people create systems and then don't follow them, and then they create a new system and don't follow it. Give your systems a chance to work and don't waste all your time creating and recreating.

Build a website. I prefer building my own because I can update it easily. There are some great tools now for building your own site with little knowledge of the HTML code. It's important to have a professional looking site and one that offers great content. Adding content regularly also helps the site to remain interesting for people to revisit and also have a better page rank. the site builder tool that I am using right now is: Site Sell. Part of what I like about it is the extensive training they provide via video tutorials. If you have never built a site this program can really teach you more than the basics. The other feature is the tools for researching and optimizing your site.

Be ready to wear many hats and figure out how to love them all. As a business owner of a small business owner you often are wearing the hats of service provider, marketing director, business development, finance director, janitor, bookkeeper, webmaster, networker, sales manager and more.... So many of the business owners I work with say they hate marketing or sales. You have to find a way to love each part of your business if you don't have the resources to outsource those things. If you do have the resources then by all means outsource!

Work on your marketing plan. How will you get clients? Why you instead of all the other service providers on the corner will people pick you? What's your unique selling proposition? If you are new to business and new to marketing, this could be the most important piece of your planning. Marketing, becasue without clients/customers, you don't have a business!! Develop a complete plan including a comprehensive follow-up plan.

Network everywhere and have a postcard or memorable business card to hand out. My business card is orange and often when I hand it to someone they recognize it and say, oh I have your card and I get your newsletter! Make your materials memorable.

Over deliver to your clients and take care of them when they make referrals to you. We call this "wowing your clients". Go above and beyond what they expect. This will keep them happy and keep them talking about you and your business. When people are "wowed" they will tell their friends and you will increase your business! This fits in with a good customer service approach. And, when they do refer people to you, say "thank you". Don't forget to say thank you. You can also give them a gift, a free service, a significant service discount or other reward for their efforts to help you build your business!

What lessons have you learned? Let me know by emailing me at: info@compassroseconsulting.com

To learn more about each of these lessons join the Business and Marketing Mentorship where I will guide you through developing an effective strategy and marketing approach.

To your business success!
Donna

Are you laughing at work?

I was at a networking meeting last night with a group of women in business. It's a fun, high energy networking group called Are You a B-Girl?. Well, last night the theme was how serious we each are in our work. Children laugh throughout their day, maybe 100 or 200 times each day. As a parent of a three year old and five year old I find that is really true. They laugh alot and we laugh alot together. But adults on average laugh 10 or less times each day. Wow, what a difference.

I know as a coach I talk with clients about life balance. And, I talk about play. It's something that I have had to consiously work at myself lately. It definitely is challenging parenting, running a business, being a significant other, a family member and all of the different roles we each have in our lives. One of my intentions is to create a life that includes play and laughter and is balanced. The question at the the networking meeting about serious we each are was another opportunity to look at how I am doing. Am I living my passion? Am I creating the lifestyle that I intend?

My evaluation of myself is that I have to continue to focus on being intentional. I am creating the business of my dreams, doing great work and constantly learning and expanding. I am playing and laughing alot this summer. Swimming and beaching and taking time off. BUT, I am not laughing enough at "work". That will be my new focus -- being sure that I'm not too serious at "work".

What about you? Do you laugh at work? Are you passionate about the work that you are doing? Do you love going to work or are you dreading it?

Be intentional in how you create your work and figure out how to include play and laughter.

All the best,
Donna

We're Moving!

Wow, what a summer. We have been working to buy a different house since November. We found a great house that we fell in love with. We made an offer and quickly put our house on the market. Well, the market isn't great. People looked but offers didn't come. Well the short version is that we had a contract on our dream house, lost the contract, almost had a second contract, lost that one, and NOW, we have a contract. Still hurdles to jump! Inspections have to happen and a new septic needs to be installed. Meanwhile we are packing.

Packing and moving has been an interesting conversation at our house. We have a three year old and five year old. I find it amazing to watch how children put things together. The questions have revolved around what stays and what goes. It's been hard for them to figure out what is ours to move and what is part of the house that we leave for new owners. Some examples for you:

• "Mom, do we pack the windows?" No, the windows stay. "And the doors?" Yes, the doors stay too"
• "Will we take the cats" Yes, the cats go.
• Panicked: "What about my animals?" (stuffed animals) They all go. We are bringing all of your things.

After getting clearer on moving we have new packing helpers.

We're still trying to sell our house! A beautiful Victorian, that we love and will miss. Check it out: http://www.nj-country-home-for-sale.com/.

As we get closer to the move it becomes more real, more exciting and there is still way too much to pack!!

And in the midst of it all, business goes on. I am excited about the launch of a new mentoring program this fall. It is really a culmination of training, experience and coaching all into one great program of business marketing, business strategies and coaching throughout.

www.compassroseconsulting.com/business-marketing-mentorship.html

Summer is also filled with time at the beach, swimming in the pool, biking, hiking and boating. In the midst of moving, business and daily life there has to be fun. Are you taking time out for play time. Are you creating a work environment that is filled with fun too!

Watch for my next post -- all about laughing.

To your summer success,
Donna