5 New Year’s Resolutions for this Small Business Owner

Determined to be successful as a business owner in 2008? Me, too. Here are my New Year's resolutions. Have some of your own to share? Let us know!

1. Check out assumptions.

When I launched Maternitique last month, I had a promotional plan in place. I executed it. I held my breath and watched as the results fell short of what I expected.

I did the right steps of researching, planning, budgeting. What I didn’t do was ask those more experienced—or even anyone at all—what to expect. My steps were correct, but the expectations were too high.

In 2008, I resolve to more frequently ask fellow business owners for feedback and to consult with my team of advisors.

2. Enlist help.

Friends and family have been offering for months to help me check in inventory, spread the word about my store and take some of the grunt work off my shoulders. In 2008, I resolve to accept help.

3. Set SMART goals, not just goals.

I’m notorious for ingenious ideas, creative suggestions and out-of-the-box thinking. But my goals are often lofty, complicated and ambitious. There are often so many players to involve, so many elements to coordinate and so much labor entailed that they don’t come to fruition in the timeline needed or as flawlessly as imagined.

In 2008, I resolve to narrow down my big ideas into specific, measurable, achievable, realistic, and timely (SMART) goals. At least I resolve to try.

4. Make better use of my time.

The most SMART goals in the world won’t go anywhere without investing time and effort into them. To select the best of my ideas, involve other people in testing them for appeal, and really sink my teeth into executing them, I need to focus, create detailed plans with objectives and show up to work each day to make it happen.

In 2008, I resolve to be more respectful of my time.

5. Be a better boss.

Being my own boss is a joy. I love having freedom and no higher authority to report to. The downside is that when I’m not performing at my best, I become an irritating, frustrating boss.

Lately, I have lost my focus, thrown up my hands in frustration more times than I care to count, avoided working on problem areas and could probably have earned some kind of award for procrastination. Have you ever had to work with someone like that? It’s demoralizing. In 2008, I resolve to be a better boss to myself. I resolve to treat myself as if I were one of my employees.

Other suggested New Year’s resolutions for 2008:
Chicago Daily Herald

Small Business: Canada at About.com

Small Business Trends

San Francisco Chronicle

Contemplating Existence

This morning my father gave me a 1983 article from Harvard Business Review called, “The five stages of small business growth.” In it, author and accounting professor Neil C. Churchill labels Stage 1 as “Existence.”

In this stage, businesses struggle to stay open. The business owner *is* the business. Existence depends on the owner’s investment of considerable personal energy, direction, capital and time.

The professor continues to explain that at this stage, there are three critical issues for businesses. They are:

1. attracting enough customers and performing the tasks of the business well enough to be viable


2. expanding from initial customers to a broader sales base


3. having enough money to meet the cash demands of the start-up phase
   
   Both of my businesses—the copywriting one and my new maternity retail store that opened last month—are in Stage 1. With both efforts, I’m attracting customers and succeeding in delivering the services. The question of viability, however, is still up in the air for both entities, as is the consideration of expansion.
   
   As I distill all of the questions and worries I have about my two fledgling businesses into those three, small-but-significant ingredients, I find some relief from the start-up stress.
   
   I am confident that I can meet the first two challenges. I believe that both businesses have the capacity for success in their quality, concept, service delivery and in meeting genuine consumer needs. The remaining challenge, according to Professor Churchill, is money. From where I sit, though, there is one more: time. I need time to gain traction and critical mass, as well as enough money to buy the time and the means to gain traction.
   
   What a relief, then, to know I can access more money (I haven’t yet maxed out credit cards, sought a business loan or tapped my friends and family for cash).

I guess now I must learn to be patient with myself as I learn how to use my time and money to their greatest impact.

Dusty Widget Blogger MIA?

Since the beginning of November, I've been quite busy gearing up for the opening of my new store store, Maternitique.

Many things went according to plan, but some didn't. Some of the results were expected, but some -- not so much.

I could blog about how to plan a grand opening (and how not to!), lessons learned with publicity and online PR, the people and resources that helped me along the way, the stress, the veering off the business plan, the value of the business plan, the unexpected discoveries...and I will.

But not right now.

It's really, just all too fresh. I'm going to try to take a step back from it all, smile through the holidays and...breathe.

Elements of a Press Kit: The Executive Photo

I’m in the process of telling the story of my second company to the world.

To do this, I’ve hired a publicist and worked with her to create a press release. She distributed it and now the dialogue with the media is open.

Would I like to do an interview? Can we have your bio? Do you have a photo?

As a matter of fact, I do (<- that's me).

Thanks to Daniel Payne, I have a professional corporate portrait for my web site, executive bio and press kit.

I met Daniel at an OEN event over the summer and we discussed high-tech start-ups and marketing. Later that month, he was kind enough to make an electronic introduction for me to a marketing and PR firm that might need contract copywriters. In his email introduction, I saw that his signature line said he was a photographer. Knowing I might need a photographer someday in the near future, I checked out his web site and liked the quality of the corporate portraits he included in his portfolio.

So when the time arrived for me to get my picture taken, he was top of mind. I called him two weeks ago and arranged for him to meet me at my house for the sitting.

It was easier than I could have imagined! Daniel brought and set up all the equipment he needed while I touched up my make-up. We talked about backgrounds and looked at the design of my new web site and the clients of my copywriting business to pick the look that would best match both of my companies.

Then, in the matter of only a few minutes, he shot about two dozen pictures of me. At his laptop, we looked at them, rotated some, and picked the one that fit best. In less than 90 minutes from beginning to end, I had exactly what I needed for my web site, my press kit, and my bio.

If you’re like me, you might balk at the idea of having your professional portrait done for small business promotion. I assumed it would take a long time to get the proofs and final images and I expected it to be expensive and inconvenient to arrange.

I can’t say enough how happy I am that Daniel made it so easy, affordable, and convenient!

Think about the benefits to your small business. It is a reflection of you, after all, isn’t it? Why not personalize some of your promotional materials with your face? People like to buy from people; they like to know who it is who will be on the other end of the phone when they call.

And besides, when the hot moment hits and a newspaper or trade magazine wants to feature your business, you’ll be ready.

Stand Back and Take Notice

"One never notices what has been done; one can only see what remains to be done." -- Marie Curie, French scientist

On July 31, I wrote about my electronic to-do list. When I began my list back then, it was daunting. A full paged of typed tasks in 10-pt typeface is a lot more than a full page of handwritten ones. There were full categories of steps to accomplish, from operations to marketing.

Now just three months later, I've not only crossed off everything on that list, but I've added two additional pages of work that lies ahead.

Although there is still much more to accomplish in launching my business, I did stop for a moment yesterday to soak in the significance of seeing that entire first page with lines through every task.

It felt good.

The things on that list were important, fundamental steps: interviewing and selecting an illustrator and graphic designer to create my company's identity; registering the DBA (doing business as) with the state; opening my corporate bank account and credit card; capitalizing my corporation by making my equity contribution; connecting a dedicated business phone line; registering the domain name for my company's web site; and purchasing office supplies, file cabinets, and the like.

When I stop the whirlwind of motion, stand back and look at how much I've done in only three months, I'm a bit stunned.

And proud.

I write this post today for myself as much as for anyone else. I hope I remember to notice in the months to come not what remains to be done, but how much I've done already.

Find Your Passion and Follow It

Last night I was at a party and found myself answering a lot of questions about my businesses. Because I'm so close to the launch of my second venture, I naturally focused on how hard I'm working these days. I talked about the long hours and how focused I've been on dedicating my energy to both companies.

When one of the guys I was talking with said, "It must be a drag to work that hard," I was surprised. I hadn't meant to sound like I was complaining. I'm not. But it is what it is: a lot of work.

"I'm happy to work this hard," I said, "because I'm excited about what I'm doing. I love what I'm creating, and I love that it's mine."

On Thursday, I wrote to my public relations agent about my ideas for an editorial pitch to a major women's magazine. She responded this way:

"Looks good Tara! You can tell your heart is really in this. I was just reading
an article this morning from one of my favorite motivators and he quoted:
When starting your business look for a product that you really like, use and
enjoy yourself personally. You can only sell something to someone else if your
heart is in it. And if your heart is in it you will enjoy using the product
yourself and be successful and the money will follow."

I know the advice to "love what you do and the money will follow" is trite, but people keep repeating it because it's true.

As an entrepreneur and small business owner, you really do have to be passionate about the business you're starting or running. To keep yourself energized and pushing forward when the going gets tough, it takes something more than the draw of a paycheck. It takes love, passion, and intensity. And like the romantic equivalents, when you share your passion, you might be surprised at how it grows and turns into something more beautiful and amazing than you had imagined.

“Just Start” Your Business—Enter to Win $50,000!

When I said earlier this week that October was the month of QuickBooks, I may have been mistaken.

So far, Intuit and its leading small business accounting software are making a strong showing in November as well.

Yesterday I discovered the Just Start contest, sponsored by Intuit. Targeting the supposed 72% of Americans who yearn to start a business, Intuit is promoting an “entrepreneurial revolution,” and encouraging the undecided to “just start” making their business visions come true.

Free Software & a $50,000 Prize
Visit the web site to sign up to receive a free copy of the new “QuickBooks Simple Start 2008” small business accounting software and learn how to submit your entry to the Just Start business contest. The Grand Prize winner will receive $40,000 in cash and $10,000 in services to help her or him with a new entrepreneurial effort.

Entrepreneur Events
In addition to the contest entry, you can find out about Just Start entrepreneurial events happening around the country, and add your own pledge to Just Start doing what you love.

Contest Info
The contest started October 12. Entries will be accepted through December 15, 2007 and the winner announced the first week of February, 2008. Awards will be made on based on the feasibility of your business idea and the strength of your presentation.

I would have told you about it yesterday, but I wanted a head start in assembling my entry. Kidding.

Good luck! Let me know if you enter; I’ll mention your entry!

The Last Word on Country Music Inspiration

As I put up Radney Foster's song last night, it didn't feel right to do so without mentioning another inspiring tune I listen to when I'm feeling discouraged.

At the risk of being cheesy, here's Ryan Shupe & the Rubberband performing "Dream Big" on YouTube.

I won't go further sharing my favorite music, but I know there are other aspiring or struggling business owners who love music as much as I do and will appreciate having these performers in their collection.

Besides, even Presidential campaigns have theme songs. If I were to have a theme song, this would be it.

Country Music Inspiration

Are you on the brink of starting your own business? In a low spot after a discouraging day?

While I was working late tonight, I had iTunes on shuffle and found my spirits lifting as I listened to Radney Foster's "Never Gonna Fly."

Here is an excerpt to give you a lift. (click to hear the sample)

http://www.echotunes.com/mmTHEECHOPLEX/audio/mp3/foster_fly.mp3

You wanna feel the wind, you gotta take the ride
You better dream big, you wanna touch the sky
You can't be scared to risk it all
No, you're never gonna fly if you're afraid to fall

The Joy of Bookkeeping

October has been the month of QuickBooks.

I'm learning how to keep my business's books and all the component parts included with that responsibility: setting up the chart of accounts; viewing and reading reports; customizing invoice templates; and creating the record-keeping systems that will help me track my profitability, sales, and inventory.

Because the extent of my knowledge about QuickBooks, accounting, bookkeeping, and business reports could fit in a sandwich baggie, I planned on hiring professional help to get me up and running when I launched my new businesses. I wanted to be trained and at a conversational--if not fluent--level of competency by the time we were done. After all, I'm the CEO of one company and the sole proprietor of another. I should know my books like the back of my hand.

With a $2,500 budget for my first year's accounting expenses, I expected to be able to get the training and set-up I needed, plus my first year's taxes. Since I'm only going to be open for business for two or three months of the entire fiscal year, it seemed like plenty of money.

So in August I had a junior associate at my financial firm come and spend two hours with me setting up my chart of accounts--which she did incompletely. A week or so later, I opened a business bank account and in September I had to write my first check. Stumped as to how to enter my equity contribution and bank information into QuickBooks, then how to write a check, I called my firm and spoke for 20 mintues with another junior associate about how to complete those tasks.

Then last week, I received my first bill from my firm. It's more than $1,000.

Time-out.

At this rate, the $500 online course from Intuit sounds like a bargain.

But I'm a hands-on learner, not someone who retains and integrates information gleaned from a computer screen. Reading about the nuances of double-entry bookkeeping on a white window doesn't sound wise knowing my learning style.

It was time for a new strategy or a new accountant! I opted to seek less expensive help from someone who could walk me through the basics of QuickBooks and save the financial firm for tax time.

I reached out to Richard Witherspoon, of Witherspoon and Heath business consulting. My friend and fellow business owner had introduced me to Richard several months ago and I was impressed at the time by Richard's knowledge of IT systems and QuickBooks. How I wish I had begun my QuickBooks learning curve with him first!

For 1/3 of the price tag, I've been able to spend several hours with Richard setting up my systems and operations. Without fear of what it will cost me, I've been able to ask questions. What's even better, he's given me written, customized, step-by-step instructions. If I forget what we did together, I have typed notes from him after our session.

A god-send!

Plan A sounded good and looked good on paper, but like every part of my business plan so far, the reality didn't match the paper image. Thanks to Richard's help, however, I'm likely to stay within my budget, and even more importantly, I'm ready for business.

Market to Previous Customers: Look to the Past to Build Toward the Future

...or Happy Halloween from Your Real Estate Agent

Real estate agents, like other commission-based sales professionals, know that staying in touch with everyone in their address book is essential to growing their business. Referrals are a salesperson’s bread-and-butter; sales are easier to make when you have a prospect’s friend or relative greasing the tracks for your deal.

Dana Griggs, my parents’ real estate agent with Hasson Company Realtors, knows that one of the cardinal rules of successful marketing is to stay in front of people. And she does it so well.

More than a decade after she helped my parents find and buy their home, she continues to regularly send cards to them. Last winter, Dana sent my mother a holiday greeting that was customized with a picture of my parents’ house on front. My mother, who really loves her house, told me it was her favorite card (after the one she received from me and her grandchild, I’m sure).

This morning, my father sent me Halloween greetings via an email forwarding of an electronic card from Dana.

Every time you reach out and stay in front of your previous customers or clients, you give them the opportunity to pass on your information to others. Not only have my parents talked to me about Dana and her cards, they’ve shared her name to many other people as well. And now, I’m sharing her information with you.

By consistently making yourself visible to those you’ve served in the past, you remind them of what you do and how you helped them. It keeps fresh the positive feelings they associate with your assistance and skill. And because of those positive feelings and your past relationship, they are your best source for repeat and new business.

There’s no need to be pushy or glitzy. Even a simple letter on stationery can be effective. But to ensure your business is remembered, thought of, talked about—and maybe even displayed on your customers’ refrigerators—the key is to find timely, thoughtful, and simple ways to remind them of you and your business.

I Win, I Win!

** For Immediate Release ** Contact: Tara M. Bloom Communications
503.233.1527
tara@bloomcopywriter.com

Local Writer Wins Honorable Mention in One of the World's Largest Writing Competitions

Portland, Or.--Portland essayist and professional copywriter Tara M. Bloom received an exciting letter in the mail last week from the editor of Writer's Digest, the world's most popular magazine for writers.

Her entry to the 76th Annual Writer's Digest Writing Competition was awarded Honorable Mention in the Memoirs/Personal Essay category.

Ms. Bloom's manuscript, Blues Dancers, was among more than 19,000 entries to the contest.

Her name will be listed in the December 2007 issue of Writer's Digest magazine, among the top 100 winners of the contest's 10 categories. Bloom will also receive mention in the competition collection book, published by Outskirts Press.

"It's ironic to admit that I don't have words to capture how proud I am,” says Bloom. “Receiving this acknowledgement from Writer's Digest is an amazing accomplishment. It's not only an honor from my peers, but it's also a nod to my work's market appeal. My next step is to submit the manuscript for publication."

Tara M. Bloom is a copywriter and marketing consultant who helps small businesses break through sales plateaus, turn around poor sales trends, and realize more profit from their marketing dollars. In 2003, she won First Place in the Non-Fiction category of Whidbey Island Writers Conference's Celestial Writing Contest for her manuscript, The Pill: Revolutionizing How We Feel.

About Writer’s Digest:
Writer's Digest is the world's leading magazine for writers, founded in 1920. Writer's Market, the bible for writers seeking to publish their work, was first published in 1921. Together, they form the foundation of a wide range of informational, instructional and inspirational offerings for writers.

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