You Know It. Do It.

Do you ever catch yourself in this kind of desperate pursuit of information, feeling as if you can only move forward when you learn enough?

Sometimes, my fellow entrepreneurs, this is a trap. "Enough" information is an illusion.

I'm a vocal advocate of life-long learning and believe that there is always room to educate ourselves and improve ourselves, our careers, our skills.

And yet, there have been times over the last few years of starting my own businesses when I've caught myself saying aloud, "I don't know what to do next," or "my business would be more successful if only I knew how to _________ (fill in the blank: market online better, improve my site's search engine rankings, tell my story better, tap into the power of social media)."

Gripped by indecision, I've spent weeks, or even months, researching, reading books, attending workshops and conferences, taking experts to lunch and digesting dozens of electronic newsletters and articles online only to discover through all my questioning that I already knew most of the answers.

I began to realize that I wasn't going to find earth-shattering advice or sure-thing strategies that would guarantee success in my endeavor; what I was reading and learning were things I already knew. And that's when I realized that I wasn't really looking for answers. I was looking for safety.

It was my doubt and lack of confidence causing my indecision, not my lack of knowledge.

Sure enough, when I imposed on myself a moratorium on more learning and challenged myself to doggedly move forward in doing the work, my businesses started to flourish.

If indecision has you stopped in your tracks, there won't be "enough" information to move you forward. You have to find the courage to implement and act on what you already know.

Recently on LinkedIn, Andrea Stenberg of The Baby Boomer Entrepreneur posed a question to business owners, asking: "How do you know when you need to keep learning and when you need to stop and implement what you know?"

Andrea chose my answer as the best response to her question, and here's what I wrote:

If you have to ask, it's time to implement!

When I was first launching my businesses, I took course after course, read book after book, devoured newsletter after newsletter. At some point, I became aware that I already knew much of what I was consuming; it wasn't knowledge I was seeking, but confidence.

Sometimes, we choose to pursue information to try to protect ourselves from making mistakes. If that's your motivation for spending money on courses instead of marketing campaigns, STOP!

Being a small business owner requires risk-taking and "mistake-making." So go out and make the mistakes. There's more than one way to learn!

Following that Q&A, Andrea wrote a great article on her website (that includes a quote from my response, how cool!), including five steps to break your dependence on outside information and to start making things happen.

Are you an information junkie? Read Andrea's challenge to "Get Off the Information Merry-go-Round and Start Implementing What You Know."

Then stop reading, and start doing.

International Entrepreneur Perspectives: O Canada!

Canada has great online resources for small businesses and entrepreneurs.

In addition to The New York Times, Entrepreneur magazine, and assorted online marketing newsletters, I also subscribe to Canada's national news source, the National Post. Each week, I look forward to reading its Financial Post. In it, there's always a variety of detailed stories about small business ownership that provide practical, useful information no matter where you live and work. To see what I mean, start by checking out the series 12 Weeks to Startup as well as the following stories:

Should I use a call centre?

Optimism key to entrepreneurial heart

Timely Tips for Recession-Racked Entrepreneurs


The Canadian government also has a wealth of information for entrepreneurs, including great business planning guides and even an interactive business planner software.

Enjoy!

Important Questions to Ask Before Buying a Business

(Note from Tara: This guest post is from Bizymoms.com who support and encourage work-at-home moms and women business owners with a wealth of resources, tips and free e-courses. They graciously agreed to write on this topic for you, my Dusty Widget readers, and to let me add my own two cents into it. Thank you Nina and Susan!)

Buying a business can be one the greatest decisions of your life. Unless you plan it well, however, your acquisition may not yield the income and lifestyle you’re hoping for. To help guide you through your decision-making, here are some important questions to ask before buying a business or becoming a partner in one.

What business is right for me?

Before you start looking at businesses, you have to evaluate yourself. Take stock of what you know, who you are and what’s driving you to be a business owner—is it money? Control? Independence? Honestly identify your weaknesses, recognize the tasks you don’t enjoy, and determine ways in which you can deal with them. Consider the industry you know best, and look for business opportunities that will benefit from your strengths and not be affected by your weaknesses. Take the time to establish expectations that are achievable and realistic.

What types of businesses are available?

Avoid speeding into the business-buying process. Take time to think about the different types of businesses that exist and what kind would be most appropriately suited to your goals, personality, strengths and lifestyle. Review the financial requirements of business ownership with a qualified professional resource. Counselors at organizations such as SCORE (Service Corps of Retired Executives) can help you find the type of business that’s right for you.

Okay, now that you’re looking…

Does this business fit my goals?

You’ve considered why you want to buy a business and what you’re hoping to accomplish as a business owner, so be honest as you look at the business opportunity and consider its potential to meet those objectives. If your hope in being a business owner is to have more flexibility in your schedule, then running a retail store may not be the best choice. Your goals should drive the decision-making and help you determine the type, size and even location of the business.

Why is this business up for sale?

Perhaps the owner has to move, accommodate a health issue or is ready to retire. But maybe the business owner sees a market trend or neighborhood shift on the horizon that threatens the business. Have sales been decreasing? Have customers been lured away to a competing business? Do your research! If you buy the business, you buy its problems as well as its potential.

What technical knowledge is required for this business?

Do you posses this knowledge to manage the business? Are you familiar with the systems needed to run this business operation? Is the seller willing to dedicate the time to train you, if required? Is it worth the time to be spent on training? Will it take a long time for you to get familiar with the trade? Will this turn-around time be worth the wait? Every new business owner has a learning curve—take time to figure out how much expertise is needed to succeed with this business.

What is this business’s cash flow?

Verify with your accountant all financial information provided by the seller. Have your accountant determine whether the cash flow of the business is sufficient to make payments on your new debt, cover your living expenses and provide a reasonable return on your investment. Find out how much operating capital you’ll have to invest after the purchase.

What will happen to the business’s relationships as a result of the change of ownership?

Will clients stay loyal to the business if you take over? How about vendors? What suppliers have special accounts or terms? Will they keep those terms or require renegotiation? Are customers drawn to the business because of the owner’s personality or presence? Do you see a new market for this business?

How will I handle the business’s employees?

As you are aware, employees are the building blocks of a business. Would the existing employees be continuing their service? If so, would you be able to establish and win the trust of the existing employees?

What legal considerations are involved with this transaction?

Will the seller agree not to compete within the same location for a considerable period of time? Are there any court cases pending against this business? If yes, are they favorable or potentially harmful to the business?

Be wise, ask questions, and think twice before buying a business. The opportunities you consider could get you ahead or leave you farther behind than when you started—the difference is in how much you know!

Summary: This article outlines important questions you should ask yourself before buying a business.

Bizymoms.com has been helping moms work from home for over 10 years. Visit today to enjoy free resources including live chats, interactive message boards, informative articles, and of course, the best home based business ideas on the Internet! Bizymoms also offers complete home business packages that get your business started right away!

Contributions to this article were provided by Tara M. Bloom, author of "Ditch the Dusty Widget," a blog that contains big advice for the little guy—tips, resources and tales to help you start, run, market and grow your small business.

©2008 Bizymoms.com. All rights reserved.

More Make Your Own Marketing Materials

Find affordable templates for a range of businesses, including tanning salons, nail salons, spas, plumbers, heating and cooling contractors, dental offices, banks, child care, churches and more at StockLayouts. There's an incredible variety of templates available, from ads and flyers to menus and newsletters. For the just-starting-out-and-I-don't-need-or-have-a-brand-identity sole proprietor or small business owner, this could be your dream come true.

I haven't used the services of this company, but I know they've been recommended by John Jantsch of Duct Tape Marketing.

Template marketing is better than no marketing. So if you've been stuck with your promotional efforts because of a lack of materials, business cards, stationery, flyers, or postcards, you don't have any more excuses. Get out and market!

Make Your Own Marketing Materials

Against my better judgment, I'm passing this resource along as well: the Marketing Impressions resource center at HP.

From a free logo maker, a free class about how to build your first website, and a step-by-step guide to create a direct marketing program, this website has enough information to make any small business owner a total danger to himself and others.

For those of you who are hell-bent on refusing to pay for the expert talents of graphic designers, copywriters, web site designers, public relations professionals, and branding developers to ensure that you have a top-quality business identity, go knock yourselves out!

Kauffman's Entrepreneur Resource Center

In addition to eating flaxseed meal, another juicy tidbit about me that will have you undoubtedly screaming "nerd" is that I listen to public radio and watch public television. In fact, I am one of the 10 people in Portland who don't have cable, digital, streaming or satellite TV. I have rabbit ears and four TV channels—five on a clear day with the rabbit ears rigged over the front door—one of which is Oregon Public Broadcasting.

And in my listening to public radio and watching public television, I frequently hear sponsorship credit for my valued programming given to the Kauffman Foundation, supporting entrepreneurship.

I've thought to myself that I should learn more about how the foundation supports entrepreneurs but never remembered to follow through with it. Today, while cleaning out my e-mail (because that's what *I* do for fun on a Saturday; yes: "nerd"), I found a link I'd saved to a Daily Cash Flow Forecasting Spreadsheet for entrepreneurs. As I clicked on it and explored, I discovered that it's a resource from the Kauffman Foundation's eVenturing Entrepreneur's Resource Center. In their own words:

The Trusted, independent source for high-growth entrepreneurs.
Welcome to the eVenturing Entrepreneur's Resource Center. This site is geared toward entrepreneurs on the path to high growth, who are building companies that innovate and create jobs. You'll find this site provides a wealth of original articles, written by entrepreneurs for entrepreneurs, and aggregates "the best of the best" content on the Web related to starting and running high-impact companies.

A brief visit to the Marketing tab reveals so many high-quality, in-depth, utterly useful links to experts who tackle the very issues that have been plaguing me lately (How do I engage in social networking for my business in a way that's not insincere? How do I get more out of Google Analytics? How do I create the advertising messages for my business that will really convert?) that I think I just discovered how I'll spend my Saturday night.

*Sigh*. I know. "Nerd."

Shopping and Advertising Small Businesses on Craigslist

A very smart, very professional, very successful woman I know recently told me that when she went to hire a lawn care service this spring, she went to Craigslist to find one. She contacted several advertisers, spoke with a few, and hired the guy(s) who made her feel most at ease.

Craigslist, as you may or may not know, is *THE* place to find whatever you need—be it a job, a girlfriend, a new house, or a babysitter. It’s also *THE* free place to advertise your services or products or anything else you have that other people might want.

Recent headlines in the newspaper remind us that it’s also *THE* place to find stolen goods being sold for cheap, prostitutes posing as bored co-eds, and a whole assortment of other arrangements that you may not even have known existed.

Some of the advertisements on Craigslist and discussions in the forums are shocking and graphic, so it should come as no surprise that some of the people who regularly use Craigslist to find or advertise services may not be…shall we say, top-tier individuals?

I advertise my copywriting services on Craigslist and it’s a choice I made with the understanding that there would be some risks involved (i.e., spammers, scammers, lower budget clients, portraying my business image as low-cost and therefore less professional).

As a new business, I simply wanted to see what I could get for free. Does it work? Yes.

I have found some fantastic clients through Craigslist and I’m confident that I can control my business image and communicate the quality of my work by the type of ads I write. That said, I’ve also received some unwelcome and/or strange e-mails, and had the occasional not-so-fantastic client—including the one who taught me the lesson that I really need to be paid up front for projects.

If you’re considering advertising on Craigslist, keep in mind the disadvantages and seek to maximize the advantages as fully as you can.

And if you’re a small business owner or entrepreneur looking for services on Craigslist, be smart! Remember that you get what you pay for. Don’t take advertisers’ claims at face value. Ask for references and investigate potential service providers a little more than you might feel is necessary.

Last week, I saw a guy marketing to small businesses on Craigslist who said he had extensive experience in search engine optimization, web development and web design. In his ad, he listed 12 websites as examples of his work. I clicked on them. One of them had expired and wasn’t even active. Another was a local business specializing in custom paint and body work. Since the guy claimed to know SEO, I went to Google and searched for “Portland custom paint body work.” The website didn’t come up anywhere on the top three pages! And when the business’s name and URL includes the word “custom” and the tagline of the business is “custom paint and body work,” there’s no reason that site shouldn’t rank top page from a local search. Is this a guy I’d want to recommend to my clients? No way.

What are your Craigslist business experiences? Met a great designer or hired a fantastic employee from Craigslist? Do you use CL to get new business? Post your CL stories in comments.

Don’t Sneer. Do.

Sneering at something is an admission of failure. You are claiming superior talent or insight…but declining to use it. The best way to sneer at something, if you must, is to improve it or outdo it.
--Spider Robinson, science fiction author

Many would-be entrepreneurs get stuck in our own fears of presumed failure and sneer at the successes of those for whom we work instead of having the courage to see if we really CAN do better.

If They Can Do It, So Can You

I eat flaxseed.

Mixed with plain yogurt, a few shakes of cinnamon and a handful of raw nuts (when I’m feeling particularly indulgent, I add some organic blueberries and a teaspoon of honey), flaxseed meal provides a nutritious, low-carb snack that’s surprisingly yummy.

And that flaxseed meal comes from Bob’s Red Mill Natural Foods in Milwaukie, Oregon.

In this month’s issue of Oregon Business magazine, there’s a short profile of Bob Moore, the founder and owner of Bob’s Red Mill.

According to the profile, Moore stumbled upon the milling idea after owning, operating and losing his shirt in the business of service stations. Following his financial ruin, Moore discovered a book that changed his life: John Goffe’s Mill by George Woodbury. The memoir told the story of Woodbury’s successful restoration and operation of the grain mill that had been in his family’s possession since the Revolutionary War. In the article, Moore says of Woodbury's undertaking:

“I thought this guy didn’t know beans about milling when he started, and if he did it, I can do it.”

And so he has. After nearly 30 years, his mill has recently doubled its manufacturing capacity to keep up with 25% annual growth.

That one phrase—“If she can do it, I can”—repeated in my head for years while worked for my last employer. As I watched how my boss ran her company, I kept looking for some mysterious characteristic she possessed that was the reason for her success. What was it that she had that I didn’t? After more than four years of searching, I realized there wasn’t anything. The only difference is that she took the risk to begin.

When I asked another entrepreneur I know how she came to start her own day spa, she told a similar story. While she worked for a spa owner, she constantly bumped up against the limitations of being an employee, especially as she peppered her boss with ideas. Tired of hearing the young upstart’s suggestions about how to improve spa services, her employer said, “If you think you can do a better job, go start your own spa.” So she did. This month, she celebrates five years of owning her own successful business.

Have you ever had an idea for a business or product and looked at others who have taken theirs to market and wondered, “How did they do that? How can they do it, and I can’t?”

You can. But you have to be willing to take the first step.

For inspiration, go have an amazingly delicous, whole grain breakfast at the Bob's Red Mill Whole Grain Store and Visitors Center at 5000 SE International Way, Portland, OR 97222.

And in the meantime, Happy Independence Day!

The Power of Humor, or, Goodbye Mr. Carlin

I laugh at myself every day. I usually try to laugh at other people just as often.

And as I've ventured into so much unfamiliar territory over the last year—new business relationships, new responsibilities, new mistakes, new opportunities, new situations—humor has been essential to keeping me sane through it all.

Some situations, like the time I spent almost $6,000 on a customer acquisition campaign that was poorly conceived and yielded nothing, have been so painful and tough to swallow that it was hard to know whether I should laugh or cry. But given the choice, I almost always prefer laughing.

And when it comes to healing my self-doubt and rebuilding trust in my own decision-making, humor is a magical balm. Taking myself less seriously is a necessary step to forgiving myself when I screw up.

Humor is also a fantastic antidote to fear. Consider the moment in Harry Potter and the Prisoner of Azkaban when Professor Lupin shows the students how to disable the Boggart, a dark creature that appears to each victim as her greatest fear. The spell that defeats the Boggart turns it into something comical. By putting roller skates on a giant, blood-thirsty spider, you can laugh at it. The thing of which you were most afraid loses its power; you regain control.

Starting up a business is a journey rife with moments of stark terror. I use humor often to shore up my courage so I may conquer my fear.

The news yesterday of George Carlin's death made me pause to consider how much I value humor in my life. Knowing he isn't here anymore to skewer hypocrisy, play with language, mock our sacred cows and dismantle the power of obscenity makes me sad. But that he left us to much to laugh about is a rich legacy indeed.

Mr. Carlin, you will be missed.

Following are some of George Carlin's jokes to help you keep laughing along your entrepreneurial journey:

If you try to fail, and succeed, which have you done?


Some people see things that are and ask, Why?
Some people dream of things that never were and ask, Why not?
Some people have to go to work and don't have time for all that shit.


Most people work just hard enough not to get fired and get paid just enough money not to quit.


Don't sweat the petty things and don't pet the sweaty things.


The very existence of flame-throwers proves that some time, somewhere, someone said to themselves, You know, I want to set those people over there on fire, but I'm just not close enough to get the job done.

Beta Test Opportunity for Retail Stores

I received an invitation today that I thought I'd pass along to the rest of you.

Intuit, the maker of QuickBooks, is beta-testing a smaller-scale version of their Point of Sale module. Bearing the straightforward name of QuickBooks Point of Sale Simple v1, the program is designed for owners of retail stores with one location (note: you can probably use this if your retail store is online, too). The module replaces your cash register and credit card terminal, combining the tools you need into one streamlined system for processing purchases and transmitting the banking information electronically.

I presume that other value-add of this service is that it will simultaneously track the customer information, if obtained, sales receipts and inventory changes into your QuickBooks records as well.

Interested retailers have to apply online to be considered for beta testing. If selected, you will be asked to:

• Start testing in the next few weeks


• Provide data files and logs when requested


• Install the product (desktop products) or access the product (web-based products) and use it


• Submit bug reports at the tester website


• Complete specific testing tasks through Fall 2008

To apply, submit your online application by Sunday, June 29, 2008. Apply here: http://beta.intuit.com/signup/testapp.cfm?id=260&refsrc=I285

If you're selected and allowed to share the experience, let me know!

Breaking Free from Employment

When I first heard Elvis's voice I just knew that I wasn't going to work for anybody and nobody was gonna be my boss. Hearing him for the first time was like busting out of jail.
~ Bob Dylan

How did you decide to become self-employed? Did you grow up in a family of entrepreneurs or did a dramatic event occur that turned you in another professional direction?

My moment happened last April.

I had worked for four and a half years at a small business and loved it, despite having some severely unhealthy dynamics at play in the office. The work engaged my creativity, challenged me, and provided unending variety and nourishing interactions with customers and vendors. It also brought me a great deal of satisfying achievement: in three short years as sales manager, and then operations manager, I doubled the company's sales.

Record-breaking month after record-breaking month, I watched my boss, the owner, grow more and more wealthy.

"Hmmm..." I thought, "I've been doing sales and marketing for more than a decade and everywhere I go, I make other people lots of money. What's wrong with this picture?" It became clear to me that if I wanted to be the one who benefitted from my talents, I'd have to be making much better commissions or be the person who ultimately owned the whole organization.

I spoke to my boss about her plans for passing on ownership of the company and she assured me that she wanted to sell it to me. In 5-10 years.

No good.

So I began looking into other businesses to buy and applying for commission-based sales jobs. Finally, after nearly a year of searching, I found a sales position I was excited to try. I gave notice to the boss and mentioned in my letter of resignation that I'd appreciate her keeping me in mind when she was ready to sell the company.

"I'm ready now," she said. "Let's do it. I really want you to have it."

We had our attorneys draft terms and I hired a team of advisors to investigate the legal and financial issues of the company. I withdrew from the sales job, explaining the surprising turn of events to the new company. Then, for two and a half months, I performed due diligence: getting the company's first ever accurate inventory count; reviewing the tax records and month-by-month financials; creating balance sheets, P&Ls, and pro forma cash flow projections for the next five years. I wrote a business plan, met with representatives from the SBA, and obtained two independent valuations on the company. I rounded up money—more than I ever thought I could ever get. With bank approval and the nod from my attorney and advisors, I made her a cash offer for what the SBA and my accountant had concurred was the full value of the company.

In the end, negotiations failed. The deal was off and I was out of a job. I picked up the phone to call the sales manager at the new company who had hired me, confident that she would still take me on if I asked.

But I couldn't do it.

I realized, with my hand on the phone, that I absolutely, undeniably never, ever wanted to work for another person again. The process of crafting my business plan and securing a large sum of money, being coached by advisors and encouraged by mentors...it all changed me. I had greater understanding of what others could do for me, and most importantly, what I could do for myself. And to be that close to holding it all in my hands...I couldn't walk away and not have it. I had to try again.

That was my moment.

What was yours?

The Top Five Surprisingly Necessary Qualities For Small Business Owners

(Note from Tara: This post is by Mark Silver, and appears on his Heart of Business blog. Used with the author's permission.)

It’s no joke, many small businesses end at a young age. Their owners, burnt out, broke, or simply preoccupied, give them up for good.

It can be a long, winding, rough path to get a business going. I’ve heard the same stories you have about the overnight sensations. But, for the vast majority of small business owners, it can take a lot of elbow grease and a lot of time before there seems to be any solidity.

When someone does move the sewing machine back into their home office, dusts off the resume, and heads back out into the job market, sometimes my heart aches for the missed opportunity and broken dreams. Other times I just nod, thinking it’s the best choice.

When is it which? And, more personally, how do you know whether you should stick it out and keep pushing, or give up?

A baseline assumption before we begin.

There are obvious questions: Are you providing a quality product or service? Do people need, use, and pay for things similar to what you’re offering? I’m going to start with the assumption that these are already established.

The real issue is that business comes, but not easily. You’ve been working really hard at it, and you’re exhausted and wondering if you should give up.

What does it really take to raise a business?

It doesn’t take an MBA from Harvard, or anywhere else. It doesn’t take spiritual enlightenment (although a grounded spiritual practice helps tremendously). And, it certainly doesn’t take a once-in-a-era miracle.

But it does take certain qualities. Five of them, in fact.

The Top Five Qualities

Everyone I’ve seen who’s gone from struggling to successful in business has been able to access these qualities, perhaps imperfectly and inconsistently, but they’ve got ‘em, and they cultivated them. And it pays off.

1. Vulnerability.
It’s okay to take off that armor, Lancelot. It’s too heavy and hot, anyway. Vulnerability is when you are open to letting things in. Want more money? You need to be vulnerable. Need help from others? Vulnerability. Learning about your blind spots, or something new about marketing… yup, vulnerability.

It’s the ability to say “I don’t know.” It’s the willingness to risk falling in love, and opening your heart. It’s when you say: “I can’t do it on my own. Can you help me?”

On this entire list, I rate vulnerability as the single most important success indicator for small business owners. Without it, you’re alone in the world, and can’t receive what you need. And, it’s hard to access the other four qualities without it.

2. Creativity.
Here’s how I define creativity: the ability to see how unlike things go together. Kinda like Sufism and Business, right? Creativity isn’t the power to create something out of nothing- it’s the insight to see what odd, strange, unlike things can be combined to be useful.

This helps in creating unique offers. This helps in finding a place to fit your home office when there isn’t a spare bedroom. This helps in spotting opportunities and niches.

It’s actually a poetic quality- and successful business owners cultivate this ability to fit odd pieces together in (sometimes) useful ways.

3. Trust. (or Faith.)
The stereotype is working seven days a week, late into the night, getting it all done. Yet, you can’t work ten to twelve hours every day and be truly productive. Things start to break down. You miss opportunities, fall blind to miracles. You need spaciousness.

And to get that spaciousness, you have to have trust. Without the deep trust in your heart that you are going to be okay, you can’t wrestle your to-do list to the ground and leave things, sometimes important things, undone, so you can access your creativity and aliveness.

4. Sovereignty.
You are in charge. It’s important, with vulnerability, to get advice, to learn, to let other sources of wisdom and experience guide you. But, when it comes down to it, you set the course.

Your business is a precious being, a vehicle for hopes, dreams, and transformative work in the world. It can provide a living for you, and perhaps others, and can help many people with some problem that’s creating struggle for them.

Finding inside yourself the willingness to act, sometimes with less care and more boldness. To take actions and make decisions, even if they are at times messy and imperfect. To be the captain of your ship. Without Sovereignty, you don’t have a business, you have a job.

5. Patience.
Wait for it… wait for it… Actually, the quality of Patience isn’t about waiting for your ship to come in. Patience is described by Sufi author and scholar Neil Douglas Klotz, in his book The Sufi Book of Life, as a pathway:

“This pathway can also help us work with projects or relationships where
progress is likely to be slow, over a long period of time. The heat of patience
and discomfort may, like a cooking compost pile, produce amazing future effects,
ones we couldn’t dream of…”

You aren’t going to make (six figures, a million, insert your lofty goal here) by New Year’s. Or by next New Year’s. But maybe three or five New Year’s hence, you just might. If you have Patience.

Can you order these Qualities on Amazon?

Uh… no. You can’t. That’s the troubling thing with these kinds of intangibles, you can’t buy them, you can’t create them, you can’t quantify them.

So, how do you get them? Let’s do the quick one-two-three.

Finish reading this article at Mark’s blog...go.

Mark Silver is founder of Heart of Business, a business consulting and healing practice that incorporates the Divine into work. He’s a Sufi healer and successful independent business owner in Portland, Oregon. Read more about Mark at Heart of Business.

Happy Anniversary to Me

May 2007 marked the official beginning of my life as a self-employed copywriter and an entrepreneur.

As I look back on the year, I’m struck by how much I’ve done, how far I’ve come and how truly exciting this new life is.

Referrals and repeat clients are now keeping me solidly booked as a writer. My Craigslist advertisements are refined to such a point that I pick up new clients each week. At networking events and in the community, I’ve learned not to introduce myself as a copywriter (a title which means absolutely nothing to the average person), but as the person who “translates business owners’ passion and vision into marketing messages that sell.” Today, instead of leaving networking events with nothing but pockets full of business cards, I leave with new clients.

As spring arrived, Maternitique blossomed as well. Persistence in marketing paid off. And so has my commitment to constantly improving it and seeking excellence. Through seeking feedback, studying page view trends, analyzing conversion rates and identifying my most effective lead sources, I’ve discovered ways to make the store more appealing, more effective at converting browsers to buying and, most importantly, to make it speak to the consumers I’m trying to serve. While there is still not enough business to make the store a raging success yet, the “trends are in the right direction,” as my boyfriend reminds me.

What amazes me the most about all of the lessons I’ve learned and exciting achievements I’ve accomplished in just one year, is just how far a distance it is from where I started. What began as a hope and a dream—to be self-employed as a writer—has become reality. The company that began as a fantasy—a place where modern, professional women can go to feel beautiful and nurtured as mothers—now exists and is growing exponentially.

Wow.

Creating these entities was, and is, a process. It came step by step, moment by moment. First, I had to exit the “rat race”—to be willing to leave the most traveled road. I found signs posted by others on this independent pilgrimage and followed them, putting my faith in their advice. Then came the hard part: staying the course and trusting my own sense of direction when things didn’t seem to be looking like I’d expected them to.

This week, I had dinner with a colleague and shared the snapshot of my endeavors with him. When I was done, he asked: “What are you going to do in the near future? What’s next?”

“Continue.”

Start-Up Leader in Corporate Social Responsibility Shuts Down

Oh, I'm so sad at this news. Just yesterday morning our local news source quoted the President and CEO of Nau, Inc. saying that the company was closing in on its capital raising goals and was poised to take off.

Then later that afternoon, the company announced instead that it is closing its doors. I just read the news in my morning's paper, but apparently it was put up online yesterday at World Changing.

For those of you who haven't heard of Nau, they were a Portland start-up that manufactured eco-friendly clothing and deployed a radical business model of sustainability. From their corporate charter to their employment practices to the low carbon-footprint of their retail locations, the company was committed to living and breathing environmental leadership.

The bold founders of the company dreamed big, acted big and enacted big goals, successfully garnering international attention for their efforts and more than $35 million in venture capital investments.

But it wasn't enough.

And the news is a heavy dose of reality to those of us starting businesses of our own. It's a humbling reminder that included in the reality of starting up a small business is the looming possibility of not making it. And if a heavily financed company led by top-level executives from companies such as Patagonia and Nike can crash and burn...what about the rest of us?

Chills.

In March, I met Nau CEO Chris Van Dyke after he delivered an inspiring keynote address to kick off the Shop 08 Conference for retailers. His belief in the utter rightness of companies to protect the community, employees and the Earth was practically tangible. His belief that it is possible for companies to be committed to profitability as well as to a social bottom line was sincere.

I believe in those things, too, and I know that with the closure with Nau, the passion, beliefs, goals and visions of the founders and employees don't disappear. They will find their way back into the market soon.

Go Scare Yourself

After a six-week hiatus, "Boston Legal" returned to ABC last night with a new episode. It was the kind of occasion that would have warranted turning off my phone, except that the only person who would call me that late at night is my boyfriend, and he knows to wait until after the show.

Determined not to miss a single second of a new BL, I tuned in to ABC five minutes before 10 pm and caught the end of "Dancing with the Stars"—the moment where the hosts bid sayonara to celebrity comedian and radio show host Adam Corolla and his dancing instructor and partner, Julianne Hough.

In the final moments before the credits, the show host put the mike to Adam and asked him a question that was clearly intended to lead the comedian into an opportunity to do what he would normally do: make a joke. But instead, Adam said something to the effect of: “I did this show because it scared me and I thought it would be a good idea to do something that scared me. I’m glad I did. To everyone watching who is afraid, too, I say just go out and do it. You don't know what rewards you'll reap from the risk.”

This morning, I received a similar message.

For a week or so, I’ve been subscribing to CEO/Entrepreneur/Attention-Getter Peter Shankman’s Help a Reporter Out newsletter. The e-mail from Peter that greeted me this morning says:

So I spoke to a class at NYU last night, talking about marketing and creativity.
I suggested that they do one thing every day that scares them. I suggest the
same to you. Today, do one thing that scares you.

In less than 12 hours, I heard two people give the same advice.

Coincidence? Or divine instruction? Whatever you believe, when synchronicity like that occurs to me, I take heed.

Today, I will do something to scare myself. And I pass on the encouragement to you to do the same.

Taking the leap to self-employment was terrifying. Starting a second company, self-funding it, and taking the idea out into the world for people to judge has, at times, conjured sensations of being in mortal danger. These are intensely frightening undertakings.

But throughout my life, I have always found that confronting things I fear has been the right choice. It has forced me to challenge myself and my assumptions. As a result, I have always found skills, loves, friends and opportunities that I would otherwise not have discovered.

No matter where you are in the self-employment process, chances are you can benefit from a shake up, too.

If you're only considering starting a business, but haven't yet done anything more than talk about it, today is the day to put your foot forward.

If you've started a business, but there is an element of it that frightens you, today is the day to face it.

If you've successfully been in business for a period of time, today is the day to look at your dusty widgets and ask yourself, "What is holding me back from taking this business to the next level? What am I afraid of?"

Life is too short to be afraid, my friends. Go scare yourself.

How Much Should I Charge? Thoughts on Pricing Your Services

How do I figure out how much to charge for my ______ (fill in the blank: writing, photography, web design, consulting) services?

I’m often called and asked this question by people who are starting out as freelance service providers. There are already many good articles written about this topic. To find them, visit the leading trade associations for your profession and look up "resources" on their respective websites. Professional copywriters, for example, can join WritersMarket.com and find very helpful pricing guides in their members only resource section.

Here are my additional tips to beginning sole proprietors on pricing your services.

Know your target client

Are you interested in landing large contracts with big firms? Or smaller contracts with small businesses? Are you seeking long-term, multiple month contracts? Or short-term, hourly projects?

What types of businesses will most benefit from your service?

Once you’ve answered those questions, think of existing businesses that fit your profile and contact them. Ask the owners what their budget is for the types of services you provide. Ask them if they use contract service providers, and if so, what the typical pay range is for those services. If they don’t use contractors, ask them why not. You may learn some very important things about your prospective clients. (By the way, before you hang up the phone, be sure to thank the person for the information and ask if you can contact them again re: your services in the future!)

Know your competitors

Use the Internet to find service providers who are competing for the same type of work from the same type of client as you. How much do they charge?

Unless you are entering into self-employment with thousands of target contacts in your personal Rolodex and a firmed up deal with a significant first client, you don’t really want to start out pricing yourself on the high end of the market.

Know what others are charging, honestly compare your skills and experience with theirs, and adjust your pricing expectations accordingly.

Explore your value

When pricing, many people automatically default to pricing by the hour. Most people making a living with a growing, thriving consulting practice will caution you against this approach. The reason is that hourly pricing sets a limit for how much money you can make. After all, there’s only so much time in a day that you can actually work, right?

Consider the value you are providing to your clients and price according to project value instead. With this approach, you price by the product you deliver and its value to the client—not how much time it took you to do it.

In my experience, there are two disadvantages to this style of pricing.

First, you may find in the beginning of your business that you are underpricing yourself. While you may charge $500 to create a three-page web design, for example, it takes you 20 hours of work between the phone calls, meetings, and adjusting the finished product to make the client happy. That only comes out $25 an hour! Over time, however, your skills will improve and your work will become faster. You should get better at managing communications with clients and more adept at the work itself. In time, what once took you 20 hours now takes only 12. And then you’ve just earned a 60% pay raise.

The other disadvantage to this style is that clients often balk at it. I initially started out my copywriting and marketing consultation business with only project rates. I soon found that my larger clients couldn’t work in this structure. They compared service providers on an hourly rate basis and weren’t going to consider me if I couldn’t deliver a competitive hourly rate and explain my services in those terms.

My solution: offer both. I post my hourly rates on my web site and explain to potential clients that they have a choice. They can pay hourly as we go, or negotiate a contract with me for the project scope that will incorporate a reduced hourly rate but be more reflective of the actual value the project will bring to the client.

Know Your Differentiation and Explain It

Wherever you set your price, be able to explain it positively to prospective clients.

Perhaps you are less experienced, have a less extensive portfolio than your competitors, or want to drum up business quickly and so you start your business with a low rate. Be able to present your choice in positive, appealing terms.

Explain to customers that you are new to the market and interested in building long-term relationships with customers. Explain that your rates are introductory and that they have an opportunity to get top-tier work for a bargain rate while you build your network.

Alternatively, if you start out charging a rate that's on the higher end of the market scale, be bold in sharing the expertise, qualifications and demonstrated results that you bring to the table.

No matter where you end up pricing your services, be prepared to both market and explain what sets you apart from the pack.

As you’re starting out your new business, I’ll offer this final piece of advice: don't spend too much money on the printing and distribution of your rate information. You’ll likely find yourself modifying your price structure as you develop your business.

You don’t want to have several hundred dollars worth of glossy brochures on hand that include rates that no longer apply. Keep your initial communications flexible, so you are able to experiment and find what works.

Resources:

What Every Creative Professional Needs to Know About Hourly Rates – Free Webcast

Free Hourly Rate Calculator from Freelance Switch

Graphic Design & Web Design Pricing Guides (not free) from Creative Public

Changing It Up: Why Rename Your Business?

I received an email over the weekend from one of my vendors announcing the company’s name change and additions of new products.

While I’m excited about the new products, I’m finding myself really irritated at the name change.

Firstly, their products are among my best-selling items. So a name change put me at risk of losing repeat business from my customers.

Secondly, it’s more work for me. I have to acquire new product images, format and upload them, as well as update the company bio on my webstore. Those aren’t difficult tasks, but they’re a grand waste of time when I have so many other things to do. (Like many a small business owner, I’m beginning to more frequently ask: what’s in it for me?)

The company had a difficult-to-pronounce name to begin with, but the new one isn’t an improvement. The first name evokes the emotion of love, which tied in well with the product line of luxurious, conscientious, organic skin care products. But the new name sounds like a bastardized version of the Italian word for “baby.” The new company name has a way different mouth feel, sound and visual impact. And it loses that emotional suggestion and doesn’t replace it with anything more evocative or relevant.

So what made them do it?

I will call them and ask (and try to be supportive), but in the meantime, I’m noodling it on my own and coming up with nothing.

Consultants suggest that business owners only change their business names if they need to change direction, put the past behind (as in the case of negative publicity or scandal), or to be more clear and descriptive of what the business actually does. But none of those reasons seems to apply in this case.

My supplier has been in business only about two years, so part of me wondered if it isn’t part of the process of maturing. Like a toddler who finds his voice and screams “no” to the world of authority, is a 2-year-old name change a step in clarifying a business’s identity?

Or is it, as one British branding expert suggests, a mistake of vanity? Looking from the outside in as a customer, it does seem like a selfish thing to do. But knowing what I do about how thoughtfully my supplier approaches the business, I doubt it. There must be something going on. Perhaps a trademark issue?

That was the case for a local Portland manufacturer and retail boutique, Poppi Swim. In business for only a few years, they recently changed their name to Popina Swim not too long ago. When I saw that announcement in the newspaper, I had to scratch my head then, too. Why bother? Rebranding your business to make such a minor name alteration couldn't happen for no reason. And it didn't. According to Popina's archived winter newsletter, difficulties in acquiring a trademark for "Poppi" mandated the change.

Regardless of the motivation, renaming your business is not an inexpensive choice. The costs add up not only in potentially lost customers who can no longer find you, but in new signage, labels, stationery, marketing collateral, advertisements, website redesign and more. It can easily run you $10K in just those expenses alone.

Before you start dreaming up a new name for your business, consider whether that money wouldn't be better spent in advertising and promoting the one you already have.

How about you? What stories can you share about the pros and cons of renaming a business?

Want to learn more about lessons learned in the trademark process? Check out the cool retro swimwear by Popina Swim and visit their blog for the full story and advice on how to avoid trademark pitfalls as a start-up.

Recommended Reading:

“Change Your Business’ Name: 7 Issues” at the Microsoft Small Business Center

“Changing Your Business Name” at Entrepreneur.com

“Changing your business’ name” at MyBusiness.co.uk

The Start-Up Gap: Vision versus Reality

One aspect of business start-up that I'm finding to be one of my most difficult struggles is the gap between what I can accomplish with the resources I have compared to what I dream of achieving.

When I began visioning my company, I gave myself the time and freedom to let my imagination soar. My business plan includes first-year milestones and pragmatic steps, but it also includes a long-term picture of my company's bigger goals: mission statements about social responsibility and social change; market leadership in the maternity brand; manufacturing products.

The greater vision is what excites and compels me to work so hard now. But the reality of where I am and what I can do today often collides against those more ambitious ideals. I can't get there in a month or a year. It will take time.

Much of what I wrestle with emotionally throughout the course of each week entails answering this question: how do I create a piece of the vision to start from and build on, but still have it embody enough essence of the vision so that it feels like I'm getting there, albeit slowly?

I find it a tough to choose between the ideal and practical. How about you?

Believe. Manifest. Let go.

Last week, I attended a networking event hosted by the Women Entrepreneurs of Oregon and held at The Clearing Café next to The DragonTree day spa on NW Thurman.

There I had the pleasure of meeting Briana Barton, owner of both the café and spa. She is a remarkably inspiring young woman. With a beautiful baby nestled against her chest and a flower in her hair, she radiated calm and poise. Graceful, open and smiling, she shared with me some her own stories about starting up her businesses.

Seeing her spa, The DragonTree, now flourishing at 4 ½ years old, it’s hard to imagine Briana’s anxiety and worry in the early days. The DragonTree is an oasis, a true retreat from urban grayness and stress. Fountains, plants, candles and a skylight bring all four elements of Earth, Air, Water and Fire into the surroundings. Moroccan chandeliers, bold fabrics and gold painted walls transport visitors to another place. The Sangha Room, where the foot treatments take place, evokes an Asian courtyard. Every detail of the spa shines with the touch of loving, deliberate care. It’s the work of a woman who believes passionately in what she does.

And yet, the first days and months of business were slow for The DragonTree: it took time for word to spread about the sanctuary Briana had created.

The night I met her, I leaned on Briana. She exuded a peacefulness and quiet strength that inspired my trust. I confided in her about my anxiety about my store taking longer to grow than I had expected and almost mentioned my worry that it might f**l.

Following our talk about the store’s mission and my passion for women to claim and enjoy their childbearing years, Briana visited Maternitique’s website. The next morning, she wrote me the following email:

I wish you all the best - I know that it will totally take off....just believe,
manifest, and let go.

Thank you, Briana. That was exactly what I needed to hear.

If you are struggling in the new days of a fledgling endeavor, I hope those words of wisdom calm you as much as they did me.