January 2009
Being in business will always present challenges, mistakes and hopefully some achievements. Are you risking your business success on the roll of the dice? Last year was not financially a good year for most people. With the collapse of the stock market, banking institution, and auto industry, as well as the fallout that occurred from that trickle down effect, many people are without jobs, and the prospect of finding one soon is not good. Thousands of people have lost their homes due to foreclosure, more than any time in history. It will be a long time in coming back to what we consider ‘normal.’ How did your business fare during this upheaval? Toni Lawrence Never be afraid of change The fastest way to loose your edge is to believe that you know everything there is to know. You need to keep in mind is that CHANGE is eminent. No matter what field you are in, there is always a new product, a new method, and a new challenge. People who have a history of running a successful business may tend to get complacent in their success. They go along with the old adage, “If it isn’t broke, don’t fix it.” These businesses, if they are not already closed, soon will be. The problem with this thinking, especially in the modern world of business, is there is always someone lurking around the corner to try to get your customers to abandon you. They may have discovered a more modern or innovative way to do the same thing as you. They could have improved their customer service; found a supplier with a better cost; added contests and giveaways; etc. Whatever it is, there is a constant tug of war to keep the customers you already have and bring in new ones. You have to continuously re-evaluate and re-invent yourself in order to compete. One example is Best Buy, one of the top Technical Retail chains in the country. Each year they re-assess their management, and redirect their focus. Districts are shifted, personnel performance is scrutinized, and they keep an eye on competition and buying trends. This eliminates complacency on the part of their employees, and encourages competitors to keep looking for innovation. In other words, it keeps the market exciting, and new products and services become available to the buying public because of this. Best Buy realizes that being content in their current success does not mean the future is a lock. There is always competition breathing down their neck, trying to grab more of the market share to increase their bottom line. The same holds true for smaller business. Complacency spells disaster for any business. Markets have changed. What worked for your father and grandfather does not work for you anymore. Previous times had loyal customers. Small businesses were the backbone of the community. Loyalty is not a priority in our society any longer. Convenience and pricing take precedence. Mega stores provide one-stop shopping convenience. They can get a larger variety of merchandise at a lower price, and customers are loading their parking lots. Loyal customers, who once shopped with you and the other small businesses in your town, are now almost non-existent. In order to retain them you have to give something different than the superstores. You have to re-invent your business and find your “hook” to bring them back. Often, especially when you have been doing the same thing for so long, you cannot see the problem for yourself. You need outside advice, from someone who is not emotionally attached. That is where we can help. Shadow Wings Consulting can help you update your Business Plan and reaffirm your goals. We can conduct market research to size up your competition. We can also help to make your organization more efficient, and optimize your operations. Don’t let the small businesses dies out to large conglomerates. Small businesses are what built our country, and in the rough times they are the ones who will keep us afloat. ------------------------------------------------------------------------------------ Most people dream about being their own boss and owning their own business. They think the idea of the “American Dream,” will put them on the road to wealth and happiness. Reality is, there is no quick road to riches. No matter how many emails you get telling you that you can make thousands of dollars a month, own luxury homes and cars, and take unlimited vacations, they just don’t exist in the “real world” without a lot of sacrifice, sweat, organization and time. Over 85% of the thousands of businesses started each year close before they have been around for five years – most of them are gone within the first year. All of these people started out with what they thought were a great idea, and it may have been, but they just had no clue what they were getting into. Answer the following questions truthfully to see if you have what it takes to start your own business. 1. Are you a self-starter? 2. How motivated are you? 3. Are you in a position to take a financial risk? 4. How are your record keeping, management and organizational skills? 5. Are you good with people? 6. How much time do you have to devote to getting a business going? 7. How much help do you have, or need? 8. Can you make a decision and stick to it? 9. Are you open to constructive criticism? 10. Do you admit when you make a mistake, and learn from it? 11. Are you willing to sacrifice time to work on the business? 12. How supportive is your family with your plan? When you start a business, the responsibility for every decision rests on you. The livelihood of your family and employees are dependent on the way you manage. It is up to YOU, from the beginning to the end. You have to be firm in your dealings, and even harder on yourself. Are you up to the challenge? If you have trouble getting started, or wait for someone to show you direction, you definitely are not entrepreneur material. Many people who want to go into business do so without any management skills. This spells doom for any business – no matter how good the idea is initially. Make sure that, if you don’t have the skills, you have someone with you who do. Shadow Wings Consulting can help (http;//shadowwingsconsulting.com). The decision to start out on your own - leaving the comfort zone of a regular paycheck requires sacrifice on the part of your family as well as yourself. Few people realize just how much time it takes to develop an idea and bring it to fruition. Do you have enough money set aside to make ends meet until you can get off the ground - maybe even for a year or two? Do you have any idea how much capital you are going to need to get started, or where you are going to obtain what you don’t have? How supportive is your family at putting what they have at risk? How much time are you willing to take away from them while you work on your dream? The most successful people admit they are not usually the smartest person in the room, but they surround themselves with people who are experts in their field to advise them. How good are you at taking advice or criticism? For that matter, how are your people skills? You will be challenged by a diversity of personalities - and you must be able to meet them with tact, honesty and firmness. If we still haven’t talked you out of becoming a business owner - you just may have what it takes to succeed. Good Luck in your venture. 
Is your success a roll of the dice?
If you don't turn to others for advise, and rely soley on your own expertise, that is exactly what you are doing.
During this time if you haven't re-evaluated your business strategy you may face self-destruction. Times are changing quickly, and you have to learn to adapt and restrategize.
Marketing is no longer confined to advertising in newspapers or local radio and television. If you don't have a presence on the Internet you are not only losing business, you are not looking to the future.
Check your distribution of work. Are all of your employees in the correct position, and are they pulling their weight? Sometimes moving personnel to different positions, and playing to their strengths, can make a big difference in economizing. Make certain you have the correct people in the right positions, and spell out their job descriptions so there is no misunderstanding.
Business as usual no longer ensures success - no matter how profitable you once were. If you don't believe this, look around you at businesses that no longer exist, and once were thriving. Examples: Sears, K-Mart and Home Depot. The competition out there is strong, and growing, and you have to know your competition and how they are getting their market share.
Turn to others for advise on how to strategize and restructure. If you can't get it from your employees or partners, consult experts - like Shadow Wings Consultants. You will not be sorry, and your employees will be glad you did as well.
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By Toni Lawrence
Do you have what it takes to own your own business?By Toni Lawrence
Inexpensive approach to marketing
by Toni Lawrence
Advertising is necessary, and no matter how tight your budget is you will have to promote your business somehow in order to get and retain clients.
There are ways to build your business without spending a lot of money. Make the best use of what you have – find out what works and stick with it, and if you are spending money on phone books or newspaper ads, make sure you are getting results before shelling out more money.
Here are a few simple and low-cost strategies to promote your business:
1. Word of mouth is the most effective!!! Have your current customers pass the word about you. People tend to patronize businesses that they have heard are reputable, have good customer service, and whom their friends have used and been satisfied with.
2. Pass out business cards everywhere you are. Many restaurants and grocery stores have bulletin boards where business cards can be displayed. Hand them out to people you stop to talk to. Include a business card in all correspondence. Place a stack on the counter of other businesses that will allow you, and ask if you can do the same for them (in that case they won’t get thrown away).
3. Have at least a basic website – that tells a little about your business, your contact information, and how you can benefit your clients. They don’t have to be expensive – for as little as the cost of a domain name (under $10 a year on GoDaddy.com) and less than $10 a month you can have a 10 page website on GoDaddy that is very easy to build yourself (or for a small fee we can do it for you).
4. Do a mini-infomercial on your voice mail for cell phones, home phone or business phone. Make sure to leave contact information and your web address.
5. Send out a newsletter to as many contacts as you can (for a very small monthly fee you can put out a e-newsletter through Constant Comment, as we do, or we can do one for you). Newsletters are a way of keeping your name uppermost in their minds. It is more expensive to send them out by mail, but if you prefer that way get a bulk mailing stamp from the post office. Compare the prices to see which way would be best for you.
6. Get listed in all the free directories as you can, and on all the search engines possible. It may take some research and time to find them, but when the opportunity presents itself, put an ad out to promote your services or products. Craig’s List is a great place to put a free ad!
7. Check organizations that are compatible with you – i.e. if you are selling cleaning services contact banquet halls, apartment complexes, realtors, construction companies, etc. and keep in contact with them. Think of as many other businesses that you could partner with to get your name out.
If you utilize these strategies you will be spending little money, but getting as much bang for the buck as you can. It doesn’t have to break your bank in order to publicize your business.
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Why, Why, Why?
• Why do we press harder on a remote control when we know the batteries are
getting weak?
• Why do banks charge a fee on "insufficient funds" when they know there is
not enough?
• Why does someone believe you when you say there are four billion stars,
but check when you say the paint is wet?
• Why doesn't glue stick to the bottle?
• Why do they use sterilized needles for death by lethal injection?
• Why doesn't Tarzan have a beard?
• Why does Superman stop bullets with his chest, but ducks when you throw a
revolver at him?
• Why do Kamikaze pilots wear helmets?
• Whose idea was it to put an "S" in the word "lisp"?
• If people evolved from apes, why are there still apes?
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Lessons in Life
Oprah once interviewed Maya Angelou on her birthday and asked her what she thought of growing older. She said it was 'exciting.'
Regarding body changes, she said there were many occurring every day, like her breasts, they seem to be in a race to see which will reach her waist first. The audience laughed so hard they cried. She is such a simple and honest woman, with so much wisdom in her words!
At the beginning of this New Year it would do us good to heed the wisdom of this phenomenal woman, who has journeyed through life through some very hard paths and come out stronger. No one has experienced a perfect life, but it is how you respond to your challenges that formulate you as a person.
Maya Angelou said this:
'I've learned that no matter what happens, or how bad it seems today, life does go on, and it will be better tomorrow.'
'I've learned that you can tell a lot about a person by the way he/she handles these three things: a rainy day, lost luggage, and tangled Christmas tree lights.'
‘I’ve learned that regardless of your relationship with your parents, you'll miss them when they're gone from your life.'
'I've learned that making a 'living' is not the same thing as 'making a life.'
'I've learned that life sometimes gives you a second chance.'
'I've learned that you shouldn't go through life with a catcher's mitt on both hands; you need to be able to throw some things back.'
'I've learned that whenever I decide something with an open heart, I usually make the right decision.'
'I've learned that even when I have pains, I don't have to be one.'
'I've learned that every day you should reach out and touch someone. People love a warm hug, or just a friendly pat on the back.'
'I've learned that I still have a lot to learn.'
'I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.'
