Obstacles or Opportunities?

I posed a question in a social networking site that is geared toward business folk. The question was – As an entrepreneur, what do you know now that you wish you’d known when you first started out?

For the most part, the input was excellent. But there was one response that surprised me.

“If at first you don’t succeed, quit.”

I know, right? I mean, I had to read it a couple of times to make sure I read it right.

Perhaps he was just being facetious. Perhaps not.

As entrepreneurs…or really even as human beings…we’re going to come up against obstacles. We can either use the obstacle as a convenient reason to quit. Or we can see them for what obstacles really are – opportunities.

Opportunities for growth.

Not all obstacles can be overcome, but they still provide room for growth. Just as a poker player analyzes the table to decide whether they should stay the course, raise the stakes or fold, we need to analyze what lies in our path instead of reacting by immediately throwing in the towel.

DIY isn’t always the best way

It’s Friday afternoon and you’re just wrapping up the finishing touches on the last batch of widgets. You look at the clock on the wall and think, “Whew, I made it through another week.” Then it hits you. You have checks that need to be deposited, the week’s invoices still need to be sent out and you promised Mrs. Chalmers and Mr. Dobson that they’d both have their deliveries on Monday. As all that sinks in, you scramble around the recesses of your mind to remember what time the last Fed-ex drop is so that you can keep your promises to your clients and have their product to them on Monday. So much for having the possibility of a weekend.

Sound familiar?

As your business grows, you will inevitably have times when there is more work to do than one person can manage. So, what’s an entrepreneur to do? You could always hire another person, but you should weigh that option carefully. Adding to staff creates more than just an added salary. There is the additional overhead that encompasses another body in your office space and unless you’re consistently overwhelmed, hiring another body as a “just in case” for the peak periods means you may be paying someone to sit around during the non-busy times. Alternatively, outsourcing may be a good fit for your needs.

Outsourcing has gotten kind of a black eye in the past few years as more and more big businesses are shipping jobs out of the country. However, when it comes to tailor made help for a small business’ needs, outsourcing can be your best friend.

When you’re first starting out, doing everything yourself is often the best way to do things. It helps keep overhead low and you can dip your fingers into the beginnings of every role in your company and set the processes in place just the way you want them. You can “try on” different solutions and quickly figure out what works and what doesn’t. If you’re thinking ahead, you can also use the hands on experience in the beginning to help you decide which functions you will be able to delegate to someone else and in what order you want to peel those duties away from your core activities, the things you love that drew you into business in the first place.

In the not so distant past, telecommuting was a young business model and technology was growing exponentially to keep up with the demand for newer, faster, more reliable ways to keep in touch and work efficiently. Consequently, in today’s business environment, working across the world is almost as convenient as working across the hall. There has also been a surge of experts and professionals who have opened up their own shops making quality assistance more accessible than ever for small business people – from bookkeeping, to billing, to engineering, to warehousing/shipping/transportation to payroll and HR services to IT services to administrative support – there are thousands of quality companies available to help meet your needs.

The key to a successful collaboration with any company you outsource to is clear communication. Know exactly what duties you want to turn over. Talk to a few different companies to see which would be the best fit for you. Also, just as you would with a potential employee, talk to other companies that use their services. Reputable resources should be happy to turn over references. Many companies will offer packages in varying levels that empower you to decide what level of service you need right now. As your needs grow, you can upgrade your level of service incrementally with that company which is a great way to manage your costs.

Delegate, don’t abdicate! As small business people, we’re often so relieved to not have to deal with the parts of the business we didn’t enjoy that we tend to turn over the tasks and forget about them. You can’t just call across the office to check on a project so make sure you maintain the communication and create clear deliverables and deadlines. You may not be performing the details of the tasks anymore, but they still contribute to YOUR business.

The options for outsourcing are only going to grow in the current economy as more and more professionals find themselves transitioned out of their corporate jobs. Many of those professionals, unable to find a suitable opening often choose to start their own venture. By opting to do business with outsource companies, you not only get a level of experience you’d be unlikely to get for the same price in an employee, but you foster a stronger economy and a stronger foundation for your own company.

Happy entrepreneuring!

Katherine

© Yanwe

Web Based Faxing

Fax machine? We don’t need no stinkin’ fax machine!

I’ve never been a fan of fax machines. It seems like their only consistent feature is jamming. And a new machine only meant jamming in more creative ways. I needed to get my home office set up; I knew that a fax was a necessary evil but I kept putting it off. I was less than thrilled at the prospect but I finally waded into the logistics of set-up. Little did I know that I had options – gotta love options!

When I transitioned into working at home, one of the issues I needed to look at was faxing. I have an all in one machine that has faxing capability but I wasn’t keen on having to toggle back and forth between phone and fax on a land line. I’ve had to do that before and it never worked well. I certainly didn’t want to have the added expense of installing a second line dedicated to the fax. I mean, when you’re just starting out every penny counts, right?!

I was talking about it with a brilliant friend of mine who asked, “Have you ever thought about a web based fax service? That’s what I use and it’s great!”

This woman is a financial genius, and when smart people talk, I try to listen.  I was more than a little skeptical, though. I had heard of efaxing before, but what I’d heard was that it was unreliable with faxes often ending up somewhere in the nether regions of cyber space instead of where you sent them. Also, that the file formats were greatly limited and needed a lot of storage space.

As soon as I got home, I fired up the trusty computer and started researching. Come to find out, efaxing has come a long way baby! Web based fax services are more reliable than ever. The more I read, the more I was persuaded.

  • No paper and toner needed, saves trees, good for the environment. Like that.
  • Many allow you to choose your desired file format and include PDFs which is space efficient. Like that.
  • Many have reporting functionality if you need to track the metrics of your faxing activity. Probably won’t use it, but like that.
  • No phone line needed/monthly service fee is less expensive than having a dedicated line. Love that.
  • No long distance charges. Love that.
  • Was able to choose a fax # that closely correlated to my business #. Love that.
  • Increased privacy; I always hated it when proprietary faxes were left sitting on the machine for anyone to read. Love that.
  • NO MORE JAMS!! – LOVE that!

There are a several sites that break down the various services including price and a whole lot of technical stuff that makes my eyes glaze over. I’m listing two, because between them, they cover most of the services available:

http://faxing-service-review.toptenreviews.com/
http://www.faxcompare.com/

I personally use RapidFax and Metro Fax, one for a client and one for my business. I went with different companies just to avoid confusion. My personal experience has been good with both. I’ve had them for over a year and have only had one small glitch with RapidFax. They never figured out what happened, but instead of faxing all of the pages, only one went through. Luckily, I caught it and was able to re-send. It only happened once and I have sent hundreds of faxes. I just try to be diligent about checking the confirmation email to make sure all the pages went through. I also set up a web based email account for the fax # so that my Inbox didn’t get slogged with faxes. The services vary on how long they retain faxes on their server, but the incoming faxes and confirmation emails stay on the dedicated email account as long as I want to leave them there. I save some onto my computer, but most just stay on the email’s storage system. This also reduces my storage space requirements.

The days of the clunky fax machine taking up precious counter space are all but over. If you’re searching for ways to free up counter space, reduce costs, help the environment, or just plain don’t like fax machines, web based faxing may be a good fit for you. There are several services with many different options so there is sure to be one that meets your needs. If you’re still not sure, try a few on! Many of the services offer free trials.

Happy entrepreneuring!

Katherine

© Yanwe

I Could Do Anything…

I Could Do Anything If I Only Knew What It Was: How to Discover What You Really Want and How to Get It
By Barbara Sher

Are you one of those people that were born knowing what they wanted to be when they grew up? No? Me, either. I spent years taking aptitude tests, personality tests, skills assessments and everything else I could find to try and help figure it out. I kept waiting, hoping that I’d come across the perfect assessment tool and suddenly the clouds would part, a ray of sunlight would burst through illuminating the answer and a heavenly choir would rise with the appropriate soundtrack. That never happened either.

So, I kept searching. I attended seminars. I tried on jobs. I read books.

And years went by. Still I was no closer to having an answer to the question of which direction I should point my vocational ship.

One day I was in a bookstore, perusing the shelves for the latest in career soul searching material when I saw a title that created a mini version of my desired moment of illumination. “I Could Do Anything If I Only Knew What It Was: How to Discover What You Really Want and How to Get It.” I thought “EXACTLY!!”

I snatched it off the shelf, raced home and started reading. The epiphany continued. At first I skimmed through the reading and skipped over the exercises. Then I went back and actually did the work. This book did more for me to help me discover my direction than any other book I’ve read.

Having said that, it wasn’t the perfect tool. Yes, it pointed me in the right direction but it took a bit more refining to fine tune things. But just having a direction was incredibly freeing! I’m very much a planner and it didn’t do a lot to help me in that area. However, that’s also part of what spurred me to start this website. There are lots of folks out there who want to help you figure out our dreams – this one was the best fit for me. There are also lots of folks who want to be your cheerleader along the way while you make it happen. There aren’t a whole lot of folks out there who will help you plot a path from choosing a direction to making it happen so I wanted to help fill the gap.

Anyhoo, if you’re still searching and unsure of the direction you want to go in when you grow up, (although I’m not sure if I ever really want to grow up) this book may be a good fit for you, too.

Happy entrepreneuring!

Katherine

© Yanwe

Do you care?

Today I went into a store to purchase a pack of gum. At the end of the transaction, I said, “Thank you.” The clerk’s response was, “Not a problem.” Am I the only one who hates that response? I mean, every single time I hear it, which is getting to be more and more frequently, I want to respond that of course it’s not a problem, it’s your JOB and you’re being PAID to do it! Whatever happened to phrases like “Thank you” and “You’re welcome” and all the Sir’s and Ma’am’s we used to be taught were just plain good manners? Whatever happened to businesses caring about their customers and treating them well so they’d return and buy from them again? In an age where common courtesy isn’t so common and quality customer service is non-existent, an easy way to set your company apart is to care.

I’m no stranger to being online. I signed onto the internet for the first time in 1997 when I was working at a university and the world wide web was still a novelty. I’ve also had websites before and learned a little bit of software so I could build one myself. However, I am new to the whole ecommerce bit and selling products from my own site instead of using a tool like an auction site or Amazon.

A long time ago, I learned the benefit of not reinventing the wheel, so when I was revamping and expanding my website I started looking at other folks’ sites and seeing what they do and how they do it and trying to figure out what might be a good fit for me. I’ve even signed up for a couple of “free offers” to get more information on the particular system the sender recommends. So far, I’ve been shocked, although I guess I shouldn’t be, at what passes for a quality product.

One person sends me TONS of emails. Now, I know that in the end they want me to buy something and I really don’t mind paying for a good product, but come on, at least make an effort to get it right. Mr. Ton O’Email (not his real name) seemed like a great find…at first. “Let me send you this free information” his site says. I think that sounds great, plus he was recommended to me by someone I know so I plug in my “Junk” email address, the one I use when signing up for contests, email responders, etc. My first email from him was full of “important” information telling me how great he and his products are and if I don’t believe him, just go to so and so’s site at such and such location and they’ll tell you, too! I click the first link. Site not found. Ok, so the web changes every day and no one can keep up with every little thing. On to link #2. It’s something completely different in a language I can’t read. From there, it was much the same, but with only 75% of the links touting his brilliance still in existence, I was less than impressed. So, I emailed him and said “Hey, Mr. O’Email, you might want to update your autoresponder emails because several of the links are bad.” No response. And again, I know folks can’t respond to all the emails they get, especially ones as wonderful and busy as he tells me he is. But that was about 5 months ago and another person I know signed up for his free information just a couple of weeks ago and everything was still the same. Needless to say, I never did spend any money with him.

Conversely, in my ongoing quest, I came across someone who actually acts like they care about you and want to help. Carrie Wilkerson, the Barefoot Executive has been an awesome help to me in the past few weeks. Yes, she still has products to sell, but the free information she gives is quality information. It wasn’t exactly what I was looking for when I found her, but I purchased some things from her that are beneficial to me and my business.

So, what was the difference? I could say, quality products. Carrie puts just as much quality and thought into her free offers as in the items with a price tag. Her links work, when she says she’s going to send something, she does and her site is relevant/current. But to sum it up into one thing, Carrie cares and Mr. O’Email does not.

Mr. O’Email is just looking to make a quick buck from those he affiliates for and I’d be surprised if he has any sustainable ongoing business. I could be wrong, that’s been known to happen, but I kind of doubt it because lately his emails have been more frequent and more frenetic, almost pleading for me to come sign up for his latest deal.

However, I can tell that Carrie truly cares about the people she’s trying to help. Has she ever personally sent me an email that’s not most likely an “autoresponder”? No. Does she still have products to sell? Yes. But at the core, the heart of who she is, it comes through loud and clear – “I want to help you get to where you want to be. Yeah, I may have some tools that will make it a lot easier, but I also have a lot of good information just sitting here for you to make use of it.”

I love that.

Zig Ziglar said, “If you can dream it, then you can achieve it. You will get all you want in life if you help enough other people get what they want.”

Do you care? At the core of who you are and what you’re business is about, do you care? Or are you merely trying to amass as many transactions as possible before you move onto something else? I don’t know about you, but I want to help people. I want to offer quality products and services to help people get to where they want to be. Long before I ever went into business for myself, I was already asking people about their dreams and aspirations and asking why they weren’t going for it and let’s figure out how to make it happen. It took me a long time to actually start putting a price tag on it because it was just something I loved to do, I didn’t really see it as a viable vocation in Middle Oklahoma where coaches worked with teams in things like football and basketball and such.

So, how about it? Are you giving your customers the best chair or hair cut or carpet cleaning or widget or whatever that you possibly can? Do. You. Care? If you don’t, I wouldn’t be surprised if you’re struggling in this economy. Now, I know there are plenty of businesses that offer spectacular service and/or products that are still struggling but I’m not one to rail against the President or Congress or whomever under the guise of the economy. The economy goes in cycles. There are good years and bad years, round and round it goes; always has, always will. I’m a proponent of the fact that if you are wise in the years of abundance, you will more easily weather the years of leanness.

There are many companies that could avoid failing if they simply stepped up and set themselves apart by offering a quality product or service for a fair price. I don’t know about you, but I’m willing to pay more for something if it’s a pleasant experience. No kidding, there’s scientific proof that people don’t usually spend money for the it, they spend money for the experience and if the experience is good, they’ll come and repeat it.

Can your customers tell that you care? If not, you may want to figure out a way to reinforce that you do. Hearken back to a day of quality and service and take notice to how your clients/customers respond. Don’t be surprised if you start feeling better about life in general as well. I know that when I see the light of satisfaction spark in a client’s eyes it makes me feel good, too. More importantly, take note of how many start coming back more frequently simply because they know that you truly have their best interests at heart.

Happy entrepreneuring!

Katherine

Financing Your Business

Because of the economic turns we’ve had over the past few years, financing is more difficult to get than ever. The economic experts all seem to think that the new marketplace will continue to be cautious when it comes to lending.

The following are some sources for funds that can be used for your business needs:

1. Personal savings – Many start ups rely on savings to finance their business. This is the most cost effective source of funding but you need to use wisdom. Don’t put your family’s future in jeopardy by blowing through your life’s savings.

2. Bootstrapping – This is a method of self reliance that is also very cost effective. Money produced is poured back into the company to avoid the need for outside funding. This also means that growth has to be controlled so that costs can be controlled, which in my view, is a good thing. Uncontrolled growth can create a whole host of problems.

3. Family and Friends – Oftentimes, loved ones can provide funds for a start up entrepreneur. However, proceed with caution; these relationships are the most important in your life.

4. Small Business Administration – The Small Business Administration has a loan guarantee program where, if you’re approved, they will guarantee a portion of your small business loan.

5. Bank Loans – This is a more traditional form of financing. Bank requirements have become quite stringent and you may have to supply personal assets as collateral.

6. Investors – Securing funds from an investor is difficult, but not impossible. An investor will provide funds, either their own (angel investor) or those from a managed fund (venture capitalist), for your business. In return, they often expect not only debt repayment but also ownership equity in your business.

Happy Entrepreneuring!

Katherine

Getting Organized Means Working Smarter, Not Harder

There’s a popular online retailer whose tagline is “It’s all about the O.” That is very true when it comes to working smarter, not harder. “O” being – Organization. Being organized makes you more efficient and appear more professional, decreases stress, and increases your effectiveness.

Besides just the downside of the benefits listed above, being disorganized also severely impacts your productivity, costs you time and money. Let’s estimate that a bit to put it in real world terms. Experts estimate that the average worker spends an hour a day looking for misplaced items. Say your income is roughly $60,000 per year. That hour adds up to almost $150 per week. Almost $600 per month. And over $7,000 per year.

That’s $7,000 a year flushed. Gone. Buh-bye.

I know, I know, being organized is a PAIN! It takes discipline and follow-through, but how much pain does it cause you to lose $7,000 a year?

What could you have done with that $7,000?

Tips for getting and staying organized

1. Clean the slate. You’ve seen those organizational shows where they pull everything out of the house and make the people go through and sort it, right? To stay organized, you need to get organized.

2. Create Stacks. Once you have that stack of items piled up in front of you that you’ve been putting off dealing with, go through it and put it into 4 stacks:

Trash, Shred, File, Action Needed

The trash part is easy. Throw it away. Be careful not to throw anything away that has personal information, even if it’s partial like credit card numbers, birth date, medical information, etc. You’re better off to shred it. Better safe than sorry. You’ll be surprised at how much of the stuff you can just toss.

Shred – easy, peasy. If you don’t own a shredder, this is one of the best investments you can make. And get a cross cut shredder. The old style strip shredders are pretty useless. It might take some time, but anyone who is patient enough can patch those strips together and have any information you thought was protected.

File – I have an ongoing file stack. I have some of those nifty stackable trays and one of them is specifically for filing. Then every Friday, before I close the office for the day, I file. It usually takes all of 10 minutes and then everything is in its place. If it’s not in the file, it’s in the tray. How easy is that? And 10 minutes is WAY doable…I don’t care who you are.

Action needed – I’ve found that this stack is usually fairly small. Either write them down in a list, or sort them in order of priority and schedule time to deal with them.

3. Make a to-do list. Taking a few minutes to write down the to-do’s of the day will help you to stay on task. You’ll also get a sense of accomplishment by checking items off when they’re complete.

4. Stay on top of it. I know, it may take an extra 2 minutes to sort through the mail as soon as it comes in, but those 2 minutes will save you having to repeat steps 1 and 2 again. Over and over.

5. Use your calendar. If you start using a calendar to schedule your time, you will be surprised to find out how much time you can find. I subscribe to several magazines and have time for reading them slated into my schedule.

There you have it. A few simple things followed consistently and your work world will be a much more organized, productive place, which for me, makes it a happier one, too.

Now…what can I use that $7,000 for?

The Waters of Time

I am amazed at how quickly time can run through our fingers. I recently had to have surgery and in the aftermath, I focused on what I HAD to do and wasn’t always able to do what I WANTED to do one of the things that kept getting pushed to the back burner were updates here. Before I knew it, three months had gone by and I realized that I had gotten lazy about managing my time and needed to get back on track.

Time is like water. Water can’t ever be completely controlled. We might throw up a dam and think it’s under control, but that’s when a crisis will happen and we’re faced with either a flood or a drought on one side of the dam or the other.

Finding the balance is tough, but crucial. If we hoard the water above the dam (worklife) so we can get a lot done, the land below the dam (homelife) will dry up and die. If we let too much water flow downstream, we don’t have enough resources above the dam.

Planning our time is the cornerstone of good time management. Otherwise, you’ll be like me and turn around and time has floated downstream without much to show for it. Over-planning is just as dangerous and you can start to feel like a slave to the calendar and resentful and when that happens, we start sabotaging ourselves.

So, for me, it’s back to a schedule, with time for work and time for family and a little bit of room to let the water flow and do its work in case Mother Nature sends me a rainstorm.