THe Entrepreneur CIrcle

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2008-12-03T14:53:00.001-05:00

Our new blog

http://theentrepreneurcircle.wordpress.com/

Quote of the week

2008-09-15T08:03:00.000-04:00

"You cannot teach a man anything. You can only help him discover it within himself." Galileo Galilei

About Galleleo Galelei

Keiserism of the Day

2008-09-12T07:59:00.001-04:00

Feed the Dog Meat, not Catnip.

In other words give your customers what they want not what you think they want.

Fact of the Week

2008-09-11T07:56:00.000-04:00

According to the SBA there is an estimated 25.8 million small businesses in the US.

Other Business Statistics

Book Recommendation of the Week

2008-09-10T07:49:00.000-04:00

Jeffrey Gittomer's Little Black Book of Connections

Question of the Week

2008-09-09T07:44:00.002-04:00

What have you done to market your company today?

Related Article: Marketing your business

Quote of the week

2008-09-08T07:39:00.001-04:00

"Ask yourself the easy questions and you’ll have a hard life, ask yourself the hard questions and you’ll have an easier life!" by Peter Thomson

Related Article: General Douglas MacArthur's Principles of Leadership

Keiserism of the Week

2008-09-05T07:39:00.002-04:00

Sometimes to get things done we need to bend the rules and make a little bit of noise.

Entrepreneurs take on a big risk to go it alone. Look at your creative self, dig down and see what you find. Some methods may seem unorthodox, or strange. Remember it is only strange the first time it is done. After that it becomes Americas favorite cookie. Toll House Cookie Story

Interesting Fact of the Week

2008-09-04T07:52:00.002-04:00

By 2010 $13.9 Billion will be spent per year on books, tapes, retreats and other self help techniques.

Book Recommendation of the Week

2008-09-03T09:30:00.003-04:00

Thick Face Black Heart by Chi-Ning Chu

About the Author

Question of the day

2008-09-02T08:42:00.000-04:00

Does your audience hear your message the way you intended it?

Related Article: The Stickiness Aptitude Test (SAT) and Ten Questions with Chip and Dan Heath

Ism of the Day

2008-08-29T08:09:00.000-04:00

Normally Friday is the day we deliver the Keiserism of the Day. However, last night Jeffrey Fox of Fox & Company (guest speaker a The Entrepreneur Circle's monthly meeting) delivered such a wonderful talk to our group that we thought we would use a Foxism instead.

The SW Rule Some Will, Some Won’t, So What.(Jeffrey Fox)

Other interesting Key Points from last night's talk:

If I were the customer why would I buy from me?
Spend 60% of your time getting and keeping clients, 30% doing the work, and 10% on administrative tasks
Do something everyday to get and keep a customer
Write a factual statement to use in advertising and brochures
When sitting down with a prospect, tell them "We won't even take you as a customer unless you can see a 10X return on your investment"
Ask potential customers "Will you just judge the facts and decide for yourself"
When talking to potential customers:

Talk Benefit
Quantify it
Dollarize it
Use Facts: "Based on our experience our clients experience ...
Find out "How much money will we get the customer?"

Interesting Fact of the Week

2008-08-28T07:59:00.000-04:00

Apples are more efficient at waking you up in the morning than caffeine.

WikiAnswers: Do Apples Wake you Up?

Book recommendation of the Week

2008-08-27T08:31:00.002-04:00

Growing a Business, Paul Hawken

Paul Hawken Bio

Question of the day

2008-08-26T07:53:00.004-04:00

Do you try or do you Do?

Related Article: Say Goodbye to Why and Try

You Tube Video: Michael Phelps wins 8th gold medal

Magic pills, wands, and pixie dust

2008-08-25T08:17:00.005-04:00

A few weeks ago I posted an entry

"Magic pills, magic wands, and gurus are best kept in the Fairytale books. The tools you need to grow your business are Leadership, knowledge, and self-discipline."

I found this video to illustrate my point. Enjoy

Mad TV Eat Less, Move More Video

Quote of the Week

2008-08-25T07:33:00.003-04:00

In spite of your fear, do what you have to do.

Chin-Ning Chu

Related Article: Put Fear in Perspective

Keiserism of the Day

2008-08-22T09:33:00.003-04:00

Planning a business is very much like planning a road trip without a map resources and working tools it makes it difficult to reach your destination.

Example:

Trip to Boston (Hartford CT - Boston MA)

Person 1 we will call her Doris: Doris Decides she is going to Boston, immediately jumps in the car and starts to drive. Twenty minutes into the drive she runs out of fuel and has to wait for AAA to help her. After that ordeal she realizes she is hungry and has to stop for food. Two hours into the trip Doris realizes that she doesn't know where Boston is but knows that she will get there eventually. Four hours later realizes she is in New Jersey, asks for directions, stops for fuel, gets another bite to eat and arrives in Boston many hours later.

Person 2 we will call him Alfred: Alfred decides he wants to go to Boston. He sits down calls his sister to let her know he is coming. Before his journey he prepares a list of things to do.

Purchase a GPS
Visit Jane the mechanic to check his car
Get Gas
Go to ATM
Get food for trip
Buy sister a gift
Clean out refrigerator
Unplug appliances
Wash clothes
Shut off Water
Notify the Mailman

By the time he has finished his to do list, Alfred realizes he is too tired calls his sister to let her know he will be there tomorrow. He is so exausted from the day before he oversleeps, and by the time he is ready it is once again too late to travel. Three days later he arrives at his sisters place only to turn around and go home, he used up his vacation days and must return to work in the morning.

Person 3 we will call her Mildred: Mildred wakes up decides she wants to go to Boston. She makes hotel arrangements with Expedia, packs a bag, and gets directions. She hops in the car, makes 2 stops the gas station, and the grocery store to get some food for her trip. Two hours later she is at her hotel talking with the consierge about things to do and where to get dinner.

Mildred will have the most productive trip of the three. She made a decision, put a plan together, took action, and then modified the plan when she arrived. Planning too much or lacking a plan in any situation can be detrimental to the success of your journey.

Interesting Fact of the Week

2008-08-21T09:29:00.001-04:00

The average business user spends 2.6 hours per day reading and managing their emails.

Related Article

Book Recommendation of the Week

2008-08-20T09:26:00.001-04:00

Transforming The Organization Francis J. Gouillart & James N. Kelly

Question of the Week

2008-08-19T09:08:00.003-04:00

When was the last time you looked at your business plan?

Related Article

Quote of the week

2008-08-18T09:07:00.000-04:00

"Do we need more time? Or do we need to be more disciplined with the time we have?"
Kerry Johnson

Keiserism of the Week

2008-08-15T08:30:00.007-04:00

Magic pills, magic wands, and gurus are best kept in the Fairytale books. The tools you need to grow your business are Leadership, knowledge, and self-discipline.

By 2010 $13.9 Billion per year will be spent on self help techniques. Although I am a firm believer in self development, it is frightning to see how many of us invest large amounts of time and money on finding the secret to their success and happiness. For some it can become an addiction, going from one self help book, seminar, retreat to the next. Your happiness and satisfaction lie in your accomplishments. Think of all the happiness and satisfaction you would have achieved if your were as committed to having it as opposed to achieving it.

I recently watched the movie "Into The Wild" Christopher McCandless went on a quest to seek the truth, he thought the magic pill would be found in the Alaskan wilderness. He paid the ultimate price to find something he already had.

Fact of the Week

2008-08-14T18:33:00.003-04:00

The American Automobile Association was founded for the sole purpose of warning motorists of police speed traps!

Related Article: There is Security in Change ... but use caution

Book Recommendation of the Week

2008-08-13T18:27:00.001-04:00

Today’s book is……………

How To Become a CEO by Jeffrey Fox

Question of the Week

2008-08-12T18:27:00.001-04:00

Would your company survive if you lost your best customer tomorrow?

Quote of the Week

2008-08-11T18:17:00.000-04:00

Today’s quote is from John Cummuta

"...if no changes were necessary for you to achieve financial independence, you'd already be there."

Related Article

Just Do It

2008-08-09T15:46:00.005-04:00

Yesterday I was engaged in a wonderful discussion. The common theme was "Just Do It". We allow ourselves to wait for the right time to do all kinds of things, but usually the time isn't right because we choose to procrastinate instead of act. There is comfort in procrastination, we make ourselves feel good with the idea that we plan to do something. We create the story that it isn't the right time or there isn't enough time, or whatever else we want to believe to be true. The truth is NOW is always the best time to do something.

I most commonly hear this when the topic of having a business plan comes up. For some reason there is a lot of resisitance to writing and following a business plan. Robin Bienemann (Chariman's View) recently spoke to our members on this topic. Robin explained the fundamentals of putting a plan together. Below are some exerpts of her talk.

What is a Plan?

Executive Summary (Mission of the company)
Company Description (What do you do)
Product or Service(describe your product)
Market Analysis (who are your customers)
Strategy and Implementation (how will you reach them)
Management Team (who will help you accomplish this)
Financial Analysis (How will your company support itself, and it's team

Who's the audience and what's it look like?

1. The Audience

You
Stakeholders - spouse, family, etc
Investors - new or existing
Suitors (potential buyers)

2. How Long? - depends on the audience

Executive summary: 1 Page or less
Investor summary: 4 - 5 pages
Business Plan for a serious investor: 5- 10+ pages
Internal/personal plan: 2 - 3 Pages Robin Bienemann (Chariman's View)

Unfortunately, it's the entrepreneur that doesn't have a business plan is the one who has the simplest one to write. We feel overwhelmed by the project, think we don't need one because we have all the information in our heads, business is growing to fast to keep up with it, ETC... You fill in the blank.

Whether it is writing and implementing a business plan, or something else on your To-Do list the best time to take action is NOW.

Keiserism of the day

2008-08-08T15:32:00.001-04:00

The best time to implement your marketing plan is 5 years ago. The second best time is NOW!

Fact of the day

2008-08-07T09:34:00.002-04:00

For those of you who are still wondering about the relevance of Web 2.0.

Google trends show that Blogs have Surpassed Newspapers & Magazines in Popularity.

View Report

Book of the week

2008-08-06T09:20:00.005-04:00

Made to Stick by Chip Heath & Dan Heath

Author's Blog

Question of the week

2008-08-05T09:10:00.001-04:00

What was the last new thing you learned?

Related Article: Importance of Learning

Quote of the Week

2008-08-04T08:49:00.001-04:00

"There are no secrets to success. It is the result of preparation, hard work, learning from failure."
— Colin Powell: U.S. Army General and statesman.

Related Article: Success by Joe Leksich

Keiserism of the day

2008-08-01T09:08:00.003-04:00

Experiencing life as a child keeps us present to the moment and helps us see all of the opportunities.

Have you ever taken a child for a walk? Did you ever notice how long it takes?

As a young mother taking walks served 2 purposes, or so I thought. It would give me an opportunity to get some exercise, and give the children an activity. I soon found that it was best to keep it simple and serve one or the other. I could put them in the stroller and walk the distance and speed I wanted to, or they could walk with me, and spend an hour walking down the street. The latter usually won out.

A child sees everything, every bug, blade of grass, and crack in the sidewalk ETC.... They see it and fully experience every moment. They don't have any deadlines, bills, commitments, or appointments. As we go through life we collect these extra things, and for some the baggage is so heavy that we become incapable of experiencing anything.

I don't live in fantasy land and don't think that we as adults could possibly recreate the true feelings of childhood, but am foolish enough to think that we could all benefit from Keeping a little Peter Pan in our lives.

I recently found out that one of my best friends was diagnosed with stage 3 ovarian cancer, on the same day her daughter was born. At the hospital her father was telling me (with pure joy in his face) how much he was enjoying his grandchildren. He went on to say that he was so busy (providing for his family) as a young man that he unfortunately didn't have the same experiences with his own children.

How many blades of grass, bugs, and cracks in the sidewalk do we miss out on everyday, because we are so bogged down with the extra baggage of life? How many opportunities and experiences do we miss out on due to our pre-conceived notions, or responsibilities? What are these missed opportunities costing you in your personal and professional life?

This is my long winded way of saying life is too short to take it so seriously. Before you know it, you are looking back saying "where did it all go?". If you are going to take the time to do or go somewhere, be wherever you are.

Interesting Fact of the Week

2008-07-31T08:30:00.003-04:00

The first Harley Davidson motorcycle was built in 1903, and used a tomato can for a carburetor.

Related Story: History of Harley Davidson

Look UP!!!!

2008-07-29T22:48:00.003-04:00

I received this email today, and thought I would share it.

THE BUZZARD:
If you put a buzzard in a pen that is 6 feet by 8 feet and is entirely open at the top, the bird, in spite of its ability to fly, will be an absolute prisoner. The reason is that a buzzard always begins a flight from the ground with a run of 10 to 12 feet. Without space to run, as is its habit,it will not even attempt to fly, but will remain a prisoner for life in a small jail with no top.

THE BAT:
The ordinary bat that flies around at night, a remarkable nimble creature in the air, cannot take off from a level place. If it is placed on the floor or flat ground, all it can do is shuffle about helplessly and, no doubt, painfully, until it reaches some slight elevation from which it can throw itself into the air. Then, at once, it takes off like a flash.

THE BUMBLEBEE:
A bumblebee, if dropped into an open tumbler, will be there until it dies, unless it is taken out. It never sees the means of escape at the top, but persists in trying to find some way out through the sides near the bottom. It will seek a way where none exists, until it completely destroys itself.

PEOPLE:
In many ways, we are like the buzzard, the bat, and the bumblebee. We struggle about with all our problems and frustrations, never realizing that all we have to do is look up!

Sorrow looks back, Worry looks around, But faith looks up! Live simply, love generously, care deeply, and speak kindly.

Book of the Week

2008-07-29T20:58:00.005-04:00

Today's Book recommendation is........

Networking with the Affluent by Thomas J. Stanley

About the author

This book was recommended to me by a good friend and fellow peer Travis Ramsdell.

Question of the Day

2008-07-29T08:40:00.003-04:00

How would your best customer describe you?

Related Article: Customer Service, Retention and Loyalty By Patricia Fripp, CSP, CPAE

Quote of the day

2008-07-28T07:45:00.002-04:00

"Genuine leadership comes from the quality of your vision
and your ability to spark others to extraordinary performance."

— Jack Welch: Former General Electric chairman and CEO.

Jack Welch Bio

Keiserism of the day

2008-07-25T08:00:00.003-04:00

"If you want to "feel good", get off your ass and do something to feel good about. Michael Keiser

Related story: Lance Armstrong

Fact of the day

2008-07-24T07:56:00.002-04:00

Today's fact is........

The creator of the NIKE Swoosh symbol was paid only $35 for the design.

Related Story: Carolyn Davidson Nike Swoosh Designer Wikipedia

Book Recommendation of the week

2008-07-23T07:53:00.002-04:00

Today's Book recommendation is........

"Emotional Intelligence: Why it can matter more than IQ"
by Daniel Goleman

Related Article: What's Your Emotional Style?
By Daniel Goleman

Question of the Day

2008-07-22T07:52:00.001-04:00

How much value do you place on your product?

Related Article: Setting the Right Price By Cathy Stucker

Quote of the Day

2008-07-21T07:50:00.001-04:00

"One of the most tragic things I know about human nature is that all of us tend to put off living. We are all dreaming of some magical rose garden over the horizon instead of enjoying the roses that are blooming outside our windows today."

Dale Carnegie
Related Article: Wherever You Are, Be There by Jim Rohn

2008-07-18T07:48:00.000-04:00

"As a business owner, always seek the truth, rather than seek to prove yourself right".
Michael Keiser

Related Article: One of the worst excuses for failure imaginable but so common. By Donald Todrin

Fact of the Week

2008-07-17T10:33:00.002-04:00

Laughing lowers levels of stress hormones and strengthens the immune system. Six-year-olds laugh an average of 300 times a day. Adults only laugh 15 to 100 times a day.

Related Article: The Stress Management and Health Benefits of Laughter by Elizabeth Scott, M.S.

Book Recommendation of the Week

2008-07-16T08:03:00.006-04:00

Today's Book recommendation is........

Little Red Book of Selling by Jeffrey Gitomer

Related Article: Are You Committed To Be A Sales Crusader? by Jeffrey Gitomer

Question of the Week

2008-07-15T07:48:00.000-04:00

Today's Question is........

Where do your best ideas come from?

Related Article: Mastermind Groups - Harness the Power of an Advisory Board Michael Keiser

Quote of the week

2008-07-14T10:13:00.005-04:00

Today's Quote is.........

"Obstacles are those frightful things you see when you take your eyes off your goal."- Henry Ford: was the founder of the Ford Motor Company

Related Article: Why Most People Will Never Reach Their Goals! by Ken Burgess

Keiserism of the Week

2008-07-11T10:09:00.001-04:00

Today's Keiserism is........

Take the things you learn and blend them into your style. When we copy another's phi losophy, it is the equivalent of wearing someone else's shoes. They may fit, but you know they aren't yours and people will start to wonder why you are walking funny.

Interesting Fact of the week

2008-07-10T18:15:00.004-04:00

Michael Jordan was cut from his high school basketball team his sophomore year.

Recommended Book of the Week

2008-07-09T10:24:00.004-04:00

On Wednesday's we provide the recommended book of the week. Today's book recommendation is .................

The E Myth Revisited
by Michael E. Gerber

Related Article:
Organizing For Growth by Michael Gerber

Question of the Week

2008-07-08T10:01:00.007-04:00

On Tuesday's we provide a question of the week. Today's question is......

How many hours per week do you

spend putting out fires?

How does it affect your business?

Quote of the week

2008-07-07T09:46:00.008-04:00

On Monday's we provide the quote of the week. Today's quote is.......

"Problems cannot be solved by the same

level of thinking that created them"
— Albert Einstein, Genius

Happy 4th of July

2008-07-04T08:30:00.002-04:00

This entry is dedicated to our country's first entrepreneurs. The ones who took the greatest risk of all and had the courage to follow their passion, and stand by their decision.

"But, the greatest decision of all time, as far as any American citizen is concerned, was reached in Philadelphia, July 4, 1776, when fifty-six men signed their names to a document, which they well knew would bring freedom to all Americans, or leave every one of the fifty-six hanging from a gallows! " Napoleon Hill

Chapter 8 Think & Grow Rich

The 56 men who signed the Declaration of Independence.

This country was founded on courage and risk. The desision to become an entrepreneur also takes courage and risk, but none so great as our Founding Fathers.

Thank you for paving the way.

Fact of the week

2008-07-03T08:26:00.002-04:00

On Thursday's we provide the Fact of the week.

Today's Fact is ...............................

Sheep can recognize other sheep from pictures

How do they do that?

Harness The Power of an Advisory Board

2008-06-22T13:26:00.001-04:00

No business is too small or too large for the owner to benefit from an advisory board. An advisory board is such a powerful management tool that no business owner should be without one.

To be competitive and profitable, your business needs to be hitting on all cylinders. I have yet to meet a business owner that is an expert in all areas of his business and few with the resources to hire experts and consultants.

Moreover, we have discovered that the answers to all business challenges lie within the business owner. A quality advisory board will help elicit those answers and move a business forward. In fact, a study from the Small Business Administration showed that, between 2001 and 2004, business owners with an advisory board grew 44%, while those without one grew 25%.

Think about the last time that you met with other business people and had an open discussion, sharing your ideas and concerns. An advisory board is a formal version of this process. It’s been said that we can share 90% of our business life with almost anyone. It’s the other 10% where a trusted group of advisors can make an enormous difference. Trust, integrity, and mutual respect are the keys to a valuable advisory board.

Unlike a one-time or casual event, your advisory board should be composed of people with a genuine interest in your business, and you in theirs. A desire to see each board member gain clarity will benefit every member of the board. Your advisory board should serve as a sounding board as well as a source of ideas, expertise, and experience. More than anyone else, your advisory board will be on your side and you on theirs. They are people with no agenda and no axe to grind that will want to contribute to the well being of your business. No single person can know everything and “on the fly” advice can often be worse than no advice at all. An advisory board that meets regularly gets to know you and your business in an intimate way and can help you find new ways of thinking and the ability to face various challenges.

But the best aspect of an advisory board is that you can share ideas, concerns, and challenges in a safe, non-judgmental environment with those who are your peers. You will be able to enlarge the view of your business and improve your mission and strategy. You will have new ideas that you hadn’t considered before and gain the ability to measure if you are on the right path or may need to change direction. The bottom line is that you will get better results in a shorter period of time.

For an advisory board to provide a high level of quality to busy business owners, it must posses 5 basic components:

Structure
A working agreement among the board members along with a memorandum of understanding and procedure.
Confidentiality agreements signed. (Imperative as to not compromise the integrity of the group)
Commitment to being active in the group.
An agenda (This will keep the meetings from losing direction and lowering the quality)

An advisory board should aim to have every member of the board commit themselves to supporting, sharing experience with, and respecting all of their fellow board members. Well run advisory boards are truly the secret to running a successful business, even when the business is already successful in its own right.

You will see dramatic improvement in your business when you participate in a well run advisory board. Don’t isolate yourself and convince yourself that you know everything and have no defects. When talking with your advisory board, you will often discover something that was hidden within you until that moment.

Let’s face it; the top is a lonely place sometimes. Business owners often have few ways to get support and guidance. Your employees expect you to have all the answers, but where can you turn when you need help with those answers? That’s where an advisory board can make all the difference.

Think of your advisors as mentors who help you become a more effective business leader. They inspire you to greater leadership heights through their own examples and experiences. They help you get through the tough times. They support and encourage. An advisory board can bring out the best in you.

Article submitted by Michael Keiser, Managing Member The Entrepreneur Circle, LLC

It Takes a Village

2008-06-22T12:46:00.002-04:00

The old African proverb states, "it takes a village to raise a child". No man, woman, or family is an island onto itself. We venture into a new role, undertake a new project or set out to do what no man has done before. Whatever direction we choose to take, we go there with limited knowledge and experience. “The Village” can take many forms, but the one commonality is we seek the knowledge of those who have come before us.

Entrepreneurs are a proud and independent group; we have a better way and are willing to assume all the risk to deliver our product to the world. Unfortunately, pride and independence can work for us and against us at the same time. An entrepreneur is someone with the courage and passion to take a concept and turn it into a business and is willing to do whatever it takes to achieve their desired outcomes. An entrepreneur can also restrict themselves to solitary confinement and resist the aid of “the village”.

Why do we resist?

Fear of looking bad
Need Permission
Didn’t know the option was available
Waste of time
Don’t know who to ask

I am a mother and an entrepreneur. As a new mother I also resisted “the village”. How could I admit that I didn’t have the faintest idea what to do with this child? All I knew for sure was that I loved her, and wanted to take the best care of her. I soon realized that I wasn’t alone; my mom shared how she felt after I was born. “What a relief, I may actually have a shot of raising this child.” From that moment on, I sought out the expertise, took classes, surrounded myself with other parents, and got involved in activities to help support the village. We are now the proud parents of 2 teenagers who openly communicate, take pride in their work at home and school, and set goals for their own future.

Unfortunately, I didn’t realize the same rules applied to entrepreneurship, and it took me a little longer to get acquainted with “the village”. How could I admit that I didn’t have the faintest idea what to do with this business? All I knew for sure was that I had a better way, and wanted to deliver the best product in my industry. Someone recently asked me “why I do what I do, and what makes me good at it?”. I do it because it gives me joy. I am good at it because I eventually got tired of solitary confinement. I got tired of repeatedly making the same mistakes. I grew weary of the paralysis of my fears. I looked at the areas in my life that I was the most successful, and applied them to my business. “The village” has become my greatest resource. The residents of the village are fellow entrepreneurs that have shared with me their experiences, and expertise. In return, I gave them the gift of my experience and expertise. They come in the form of my accountant, my attorney, peers, clients, and most importantly my Mastermind group. My mastermind group has become the governing branch of my village. They have shared with me their experience, supported me when I have fallen, been patient, and never judgmental. They have helped me to align myself with my business, take leadership, and look at the business for what it is and what it can become.

We all posses the power to accomplish what we set out to do, some take the long route and others seek the direct route. When we accept the village we remove the fear, and isolation that can stunt our progress.

Networking Doesn’t Work?

2008-06-20T12:03:00.000-04:00

Would you like to come to my networking event? You are cordially invited to attend my networking event. Come meet and network with 50 – 80 local business people. I bet you receive an invitation such as this or one with a similar message at least once a week (if not more). Networking groups are popping up everywhere. Breakfast groups, lunch groups, dinner meetings, after hour socials, pick a time and there are 5 business events to attend every week. One could say that attending networking events could be a business all its own. So why do I hear over and over that networking is a big waste of time? I will agree with that not all groups/events are created equal. The main reason networking meetings don’t work is because People don’t know how to do it or they are doing it for the wrong reasons.

Networking is the conduit that leads to relationships. Strong relationships are the basis of our business and personal growth. Unfortunately, networking has become a buzz word, so for our purposes let’s call it relationship building. Relationship building, when done properly, is your best source for new business resources and education.

Successful Relationship building Strategies:

Networking and Sales are separate: Always walk into a business event with the understanding that you will never do business with anyone in the room. They aren't your customer.

Prizes are not awarded to the attendee who collects the most business cards: The intention of giving out your business card should serve as a reminder to follow up with that individual. The card is the tool to reconnect with that individual at a later date to learn more about their business, and build the relationship.

Plan your event: Spend some time reconnecting with old friends and new acquaintances. Also, make a point to mingle with the other guests that you haven’t met before. Most important is to come with a purpose. Let your peers know what you are looking to accomplish.
Some examples:
1. My bookkeeper just quit, I am looking for a referral to a bookkeeping service or a new hire.
2. Our company has just launched a new product; I am looking for ways to market this service.
3. My ideal customer has XX characteristics; I am looking for referrals to those individuals.
Please note the examples above are most effective once you have established some level of rapport.

Respect the name tag: Name tags can be a relationship builder or breaker. Name tags are intended to help identify who you are speaking with. Playing the name tag snub game can hurt your relationship building experience. Remember Networking and Sales are different. Initially, give everyone a chance to show you who they are.

Some example questions to ask:
1. Do you participate in any other organizations?
2. What other careers did you have?
3. Where did you grow up?
4. Do you have any hobbies?

Pay attention/ Listen: Many of us will give part of our attention to watching the door, or others in the room making sure we don’t miss anything. Being in the moment is crucial to successful relationship building. Pay attention to the person you are talking to NOW. Perhaps you will find out the ONE you were hoping to meet is standing right in front of you.
Be a resource: “It’s better to give than receive” this is a very trite, but true statement. When building relationships, a great way to build trust is to give something away.
1. Make an introduction
2. Help solve a problem
3. Share an experience
4. Follow up

Here is the tricky part, give without any reciprocal expectations. The word will get out, your integrity as a business owner and peer will speak volumes.

Affiliate yourself with a group that will meet your needs: This is one of the most crucial factors in successful relationship building. Enter the room as a peer ready to give and receive. Referrals are one piece of the relationship building process. Entrench yourself in your business organization. Become a part of the community, take a leadership role.

We have been building relationships since we were children. On the playground it helped us get invited to sit at the lunch table or invited to a game of hopscotch. Later these skills helped us form friendships and find romance. Today these skills help us enhance our careers.

Are You a Cool Kid? Or, Just Trying to be One?

2008-06-18T12:19:00.001-04:00

A common frustration of small or micro business owners is that the larger firms won't do business with them. "Why won't they return my calls?" "If they just listen to me, they will know they need my product." The truth is the larger companies are referring to and giving small/micro businesses a chance. They are returning calls and they are listening to them. So why aren't they doing business with you? The answer is simple, you don't want to do business with them. You want their money and they know it.

Something strange happens to the small/micro business owner when they are face to face with their ideal prospect. They suddenly become babbling fools who can't handle the conversation.

Let's take a walk down memory lane, remember when you were in school? There were "the cool kids" and "the not so cool kids". You were either "a cool kid" or trying like hell to become one. The cool kids only accepted or respected those that were cool like they were. Was there a secret handshake that kept most of us out of the group? Yes, it was called confidence. The cool kids didn't strategize all night on how they were going to be accepted by the popular crowd. They just showed up and assumed they were one of them. They spoke to them as if they belonged.

As business owners we do the same things. Smaller companies are so caught up in wanting to be noticed by the bigger companies that when they finally get their chance to participate in "the cool kid group", they blow it!

· Try to impress them
· Send a friend over to talk to them first
· Act like a subordinate to show respect
· Trick them
· Assume they want or need whatever you are selling without asking the appropriate questions.
· Treat the prospect like a checkbook or transaction

These maneuvers didn't work on the playground and they don't in business.

People want to be treated like people and can sense when there is a perceived agenda. It's all about the attitude and level of confidence you display that truly gets you in with "the cool kids". Someone shouldn't buy from you to give you a chance or because you need the money. Show your customer the value in what you do by becoming a resource. Show your knowledge, ask questions to determine the need. I can read a brochure to find out the features and benefits.

Be sincere! One of the worst mistakes is to pretend to engage in activities, hobbies or interests of the person whose attention you wish to gain. If golf is a common interest, share your experience. Don't pretend that you enjoy golf if you have never been on a golf course. You will look foolish and the level of trust will diminish. It's ok to ask about hobbies or interests to find out more. The important thing is to be yourself, and not force the connection. You may discover that there is a common ground, or not.

Listen! It's about the relationship, not the transaction. By building the relationship you will gain their trust. They will tell you if they are going to buy, and when they plan to do so. If they aren't going to buy and they trust you, they may refer you to others they may want to buy.
Enter the conversation without any expectations, if you focus on making the sale, chances are you won't. Even worse, you may discover that a sale was made to someone you never wanted as a customer.

This is a long winded way of saying "You will gain your greatest results by being yourself." Think about the way you behave in your current relationships (Personal & Business). Why do they like you? Why do they do business with you?

Acting natural and confident is the crucial ingredient to creating long lasting business relationships with the customers you are interested in working with. Relationships/trust can't be rushed or forced, but can be nurtured and developed.

CT Business Magazine

2008-05-01T10:05:00.001-04:00

The Entrepreneur Circle was interviewed last June by Connecticut Business Magazine. Thank you to Matt Wagner for the photography and wonderful words. Thank you to Carol Latter for writing such a beautiful piece. Thank you to everyone who submitted wonderful testimonials.

CT Business Magazine

Clean Transitions in Family Business

2008-03-17T19:42:00.000-04:00

Family owned businesses continue to be the backbone or our economy. They range from small businesses to large corporations, employing 60% of the population. Family owned businesses are one of the fastest growing sectors of the economy responsible for creating 78% all jobs in our country. Unfortunately, the odds are against a family owned business succeeding after a generational transition. Most often the next generation isn’t interested in carrying on. Sometimes, the new generation will make drastic changes in the business that the employees and or customers aren’t willing to accept. Other times the new generation just doesn’t possess the value system or business philosophy the previous generation had. Whatever the reason, statistically, only 33% of all businesses successfully make the transition to the second generation, and only 10% make it to the third.

Best Cleaners, has survived 2 generational transitions. Shawn McCann is the third generation to run the organization. In 1954 William J. McCann, Jr a WWII Veteran opened the first Best Cleaners in Middletown Connecticut. Today they have 11 locations.

Second Generation
The second generation brothers Bill & Tim were groomed to take over the business using their good sense and work ethic learned and grew the business in a grassroots fashion, heavily involved in the day to day operations. They led by being present. It was sink or swim. Later Bill bought out Brother Tim’s shares and ran the business with his wife Susan.

Third Generation
Growing up, Shawn didn’t work in the stores; he was usually given the task of painting or mowing the lawn. After he graduated from college, his parents Bill and Sue McCann encouraged him to work elsewhere to establish himself and learn what it meant to work under other management. When he finally joined the business, he initially spent his time learning every aspect of every job. He didn’t spend a long time at each position, just long enough to understand each position of the company. When Shawn finally joined the business, the staff was a bit nervous about the new management, but Shawn made himself visible enough to ease their concerns.

Shawn chose to carry on the tradition of Best Cleaners because he took pride in what the previous generations had accomplished. He educated himself and knew he had the skills to take the business into the next generation. Under Bill, Best Cleaners grew to 10 locations, offering same day service, and home delivery to its customers. Best Cleaners was also the first in Connecticut to provide GreenEarth (environmentally friendly cleaning system). Since Shawn has come into the business, they have added a new location and created more efficient processes. Keeping current, reading Trade Publications and networking with Trade group members has allowed him to stay ahead of the curve. Everyone always remembers the first in the industry.

Successes and Challenges
Best Cleaners greatest success has been its ability to secure jobs for their 140 employees some have been with the company for 25 years. Employees are given the tools to create an experience for our customers. “Customers are guaranteed a quality product; otherwise the garment is replaced at full value. Fortunately, this doesn’t happen very often, but nothing is perfect. This guarantee gives our employees the tools to make the customer happy, and concentrate on quality.”

On the other hand, their greatest challenges have been keeping their fixed costs low. They are constantly striving to bring in more efficient technologies to save on their fixed costs. Another challenge is the cost of cleaning vs. buying new. Innovation, convenience and customer service keeps the customers coming back. Home delivery, express service (in by 11:00, out by 4:00), and converting to an environmentally safe solvent (GreenEarth) are some of the reasons customers choose Best Cleaners.

Best Cleaners is staying in the game and part of the 10% that survives the 3rd generational transition. Give the next generation the experiences, knowledge, and make them part of the culture before promoting them to CEO. When the next generation is groomed in this fashion the odds of success increase.

Family Owned Grocery Chain with Big Ideas and Values

2008-03-11T12:03:00.000-04:00

December 22, 2007, I am doing some last minute Christmas shopping. I run into Highland Park Market for Jones Soda, to give as a special treat for the children. The store is bustling with patrons preparing for the upcoming holiday. Once inside I cannot find what I am looking for. I stop to ask a busy clerk for help. She stops what she is doing, smiles, looks me in the eye and proceeds to show me where to find Jones Soda. She pointed me in the right direction, but it wasn’t exactly what I had in mind. I ask the busy young man at the pizza counter. He also stopped what he was doing to assist me. I arrive at the register to find more friendly faces, since the soda only came in singles the clerk ran to find a box with dividers so I wouldn’t break any bottles. As I attempt to leave I am stopped by another clerk who informs me that it is slippery outside and he would help me to the car. All that service for $11.10 sale.

I was so impressed by my experience I phoned Tim Devanney to compliment him. Tim, who has spent his life working with his family, invited me in to tell me their story.

History
Since 1953, the Devanney family has owned and operated Highland Park Market. In 1953, people patronized their neighborhood stores. However, a lot has changed since 1953. One of those changes is the big box grocery store and shopping clubs.

How does a small grocery chain stay competitive in today’s market? The answer is quite simple; “give them what they want”, high quality, good customer service, and convenience.

Quality
Customers that shop at Highland Park Market are not shopping for the best price. They are shopping for their high quality meats, fish, and produce. They are committed to being the “Rolls Royce” of grocery stores, and are putting their money where their mouth is. Tim and his staff don’t take the vendor’s word for it. All the fish, meats, for their award winning deli, butcher shop and fish department are tasted and tested. The Devanney family doesn’t skimp on staff either. There are 2 chefs in the deli and pastry chefs in the bakery.

Customer Service
Earlier, I mentioned the level of service I received as a patron. As a business owner I understand that the attitude of the employees typically reflects the leadership in an organization. Each employee receives a 4 hour orientation where they learn how to work with the customers, gain product knowledge and enjoy a sampling of the product. All this enables them to best serve the customers. The training doesn’t stop there. Periodically employees are brought back for refresher courses. For employees who are looking to make a career at Highland Park Market, they can take advantage of the Food Service Certificate program at Manchester Community College. Tim serves as a board member for The Connecticut Food Association; he was a co-chair on the committee that developed the Food Store Certificate Program with Manchester Community College. Highland Park Market is one of many grocery stores to offer this program to their employees.

Convenience
Busy times call for busy schedules. Highland Park Market prides itself on providing a convenient shopping environment. After surveying customers, they changed the layout of their stores to suit their needs. Home Meals to go are located in the front of the store for a speedy checkout. Produce is in the back “No more crushed tomatoes”. They took a chance and went against the industry standards, but the customers acknowledge and appreciate the effort.

In a world where quality has been replaced with buy one get one free and special tokens, and customer service has been replaced with little to no service, consumers have become skeptical. It is comforting to know that quality and customer service still exist. Thank you Highland Park for maintaining those values.

What Makes a Family Business Successful?

2008-01-28T19:04:00.000-05:00

Family owned businesses are the backbone of our economy. The University of Southern Maine's Institute for Family-Owned Business reports that 35% of fortune 500 companies are family-controlled. It has also been reported that family businesses are responsible for 50% of U.S. gross domestic product, 60% of the country's employment and 78% of all new job creation. Unfortunately, less than 1/3 of all family owned businesses make it to the second generation, and 1/10 makes it to the third. So what does it take to succeed and be part of the 10% who survive? Lauretano Sign Group has just celebrated 60 years in business and Michael Lauretano Jr. is being groomed to take the business into its third generation.

Recently, I had the pleasure of speaking with the Principals of Lauretano Sign Group (Mike Lauretano Sr. Owner, Pat Byrne President & C.E.O, and Michael Lauretano Jr. Sales Manager) to find out the secret of their 60 years of success. Their story is one of heartbreak, perseverance and direction.

First Generation
Lauretano Signs was begun by Mickey Lauretano in 1947 as a protest to the cost of show cards (50 cents). Mickey (an artist) started to paint them for himself and found it to be a profitable way to earn a living. In 1966 Mickey died leaving his wife Amelia and 5 children. Amelia decides to keep the business alive and continue her husband's vision.

Second Generation

In 1972 her son Michael turned down a job offer (Science Teacher) and joined his mother to build Lauretano Sign Group to what it is today. Michael brought his enthusiasm and the work ethic his father gave him. Michael and Amelia learned to distinguish family and business, sometimes the business conversation continued to the dinner table, but Amelia also knew how to lead and allowed Michael to learn from his mistakes. Michael in turn has chosen to introduce his son Michael Jr. to the business in the same fashion.

Successes & Challenges

In 35 years Michael took a struggling sign company to a leader in the signage identification field. Michael accomplished this through his determination, focus, and vision for his company. He refused to let anything get in the way of the success of the company. Michael knew that big ideas come with big price tags. Balancing growth with cash flow was one of the greatest obstacles he had to overcome. In order to take the business to the next level meant purchasing the equipment and machinery. Michael found a way, and adopted the motto "act like you are going to be around for a while." "Most people think of great or grand ideas but are unwilling to take the risk to execute them. Execute."

His greatest success has been to adopt the Henry Ford approach surround himself with a team of people who know about the things he doesn't. He doesn't have to be the smartest person in the room; he just has to make sure the job is getting done in the most efficient manner.

Third Generation

Michael Jr has been a part of Lauretano Sign Group his entire life. He has paid his dues and worked in every department of the company. He understands what it is like to work for the company and answer to the department heads and managers. His current role is to lead the sales force. Pat Byrne states "Michael has brought new energy to the company, specifically in the sales and networking area. His ideas and his personality have been fully accepted within the company."

Staying Alive

Lauretano Sign Group has decided to be part of the 10% who survive. They will do this through good communication, knowing when to let go, and their willingness to execute their vision.

Michael Keiser Managing Member American Mobile Scan

2008-01-15T21:19:00.000-05:00

Michael joined the Army after High School to pursue a career as a helicopter pilot. During his training he got injured and couldn't continue. He then pursued a career as an X-Ray Technician. Disillusioned when the job became mundane, he sought out something that offered him satisfaction.

In 1997 Michael and 2 doctors began American Mobile Scan. A mobile imaging company that provided Bone Density Testing to post and perimenopausal women.

Why Michael Started American Mobile Scan

Michael developed a desire to be in business for himself, and thought the concept had the potential to become a profitable business. He had a background in medical imaging, and wanted to create something that hadn't existed before.

Did the business give you joy?

"I knew that the success or failure of the buisness was dependent on my efforts, and the team I created. The everyday challenges had their ups and downs, but there was a lot of fulfillment in the relationships that were created with clients and colleagues. The money was a great reward as well."

Business Education

Michael started this venture without any formal business training. He learnt from his failures, business books, and other entrepreneurs.

Being in Business day to day

There were many aspects of the business that Michael enjoyed, but there were also things about the business that he didn't. Due to Michael's extroverted personality he was natually successful at sales and marketing. However, the business owner soon finds out that once you hang out your shingle you suddenly become a man/woman of many talents, (whether you posses them or not). The administrative details were the aspect of the business he disliked.

Success & Failure

Michael's greatest success with American Mobile Scan was taking the company from $0.00 to $1.5 million. Unfortunately, his greatest failure was the choice of his 2 business partners who became more of a hindrance, than a help. This resulted in stunting the growth of the business, which led to it's dissolution.

Advice to other Business Owners

"Gut it out everyday, don't think it's going to be easy. Be willing to fight the fight even when you don't want to. Partners are for dancing, but if you choose to take on business partners, make sure you choose carefully, and have a comprehensive operating agreement."

Turning A Concept that gives you joy into a Business

2008-01-15T20:48:00.000-05:00

An Entrepreneur is someone with the courage and passion to take a concept that gives them joy into a business, and is willing to do whatever it takes to achieve their desired outcomes.

A Concept that Gives you joy

In my case this wasn't why I became an entrepreneur. My husband and I owned a medical imaging company. If you remember from one of my past entries How I Became an Entrepreneur I mention my passions were to become wife/mother/and teacher. I didn't get involved in the business because I cared about the business, I did it because my rose colored glasses had just gotten a shot of windex sprayed on them, and I wasn't going to be caught with my pants down if something happened to Michael.

Director of Operations

Director of operations was my title. Yes, I loved the business, but I loved it for the wrong reasons.

The business made my husband happy

It provided our family with more income than we had ever made

I could buy more things, go more places

I felt a freedom I hadn't ever experienced in the past

My husband Michael on the other hand was living the dream. He had taken a concept that gave him joy and turned it into a profitable business.

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2008-01-11T17:01:00.001-05:00

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How I Became an Entrepreneur

2007-12-31T13:08:00.000-05:00

Today, I am the leader of a successful business development group that helps entrepreneurs find their way through entrepreneurship. How did I get here? In order to understand where I've gone it is important to know where I came from.

Childhood Dreams
As a child I saw myself as a wife, mother, and teacher. As a student I could see myself standing in front of the classroom conducting the class, and would often contemplate how I would have handled the students that day. Or, how I will talk to my students in the future. The same went to the attention I paid to mothers. My dream was to become a MOM. The girls around me were talking of careers, and liberation. That was crazy talk. To me the very essence of being a woman meant teaching and caring for children. My mother shared and encouraged the same vision with one exception "Don't become a teacher" she would say "there are so many of them and most are out of work. The job for you is Accountant. People always need an accountant and while your children are small you can do it part-time to keep up your skills and bring some spending money in the door.". This made perfect sense. However, there was still a nagging voice compelling me to watch the teacher carefully and plan for my future teaching career. I tried to explain to myself that the world didn't need anymore teachers and accounting was the path I was now choosing. That little nagging voice wouldn't go away.

I am 17, a senior in high school. Time to pick a college and major in accounting, we visit some wonderful accounting colleges; I even fill out the applications. Until one day I just can't fight it anymore "Mom I don't want to be an accountant, I want to teach! I know there are too many teachers in the world, but I will major in Math with an education minor. That way if I can't get a teaching job, I will be qualified for something else." (Math was my favorite subject in school). "Oh and one other thing, I want to attend a State College." I applied to and got accepted to Fitchburg State College.

At Fitchburg State I am surrounded by elementary education majors, I found myself distracted by them, jealous. I found that I suddenly forgot how to do Math, I wasn't able to pay attention in class, and not able to complete assignments. "Mom, Dad I don't want to be a Math major, I have signed up for elementary ed classes for the Fall."

Married with Children
One would have thought that I was on the right path to make my dreams come true. I was doing just fine until another distraction came my way. You are probably thinking at this point that I am just a spoiled brat who needs some discipline in my life. You may be correct, or maybe I wasn't supposed to go about things the ordinary way. The distraction was the opportunity to become a wife and mother. I met the man of my dreams and he swept me off my feet.

June 1991 I marry Michael, August 1992 my daughter is born, August 1993 my son is born. This my friends is bliss. Could life get any better? I am living the dream, I relished in motherhood. Cooking, cleaning, afternoons at the park, story times, Birthday parties, you name it, I loved it. I loved it all. Until February 1998 when I had a life-changing conversation in a local Wal-Mart.

The Entrepreneur
There was a woman whom I'd seen many times (library, park, etc...) we'd never spoken more than 2 words to one another until today. I congratulated her on her new baby, and asked how the twins had handled the transition. She then blurted out "My husband died a month ago". She looked so empty and hopeless. I couldn't get her out of my mind. The only thing that separated her and I is the fact that my husband is alive.

My husband just opened a new business 8 months prior. That night I shared my experience with him and told him that I wanted to learn about everything in his business. I didn't need a paycheck, but I had to know all about the business just in case I ever had to take his place. Now this was a very hasty decision that was made in fear, but this decision has taken me on the journey of a lifetime. I didn't know it at the time but this was the beginning of Maria the entrepreneur. The beginning of bringing to life all the dreams I had as a child (I will get into more detail in future postings). It was the decision that helped me to understand and create the definition of an entrepreneur as I see it.

I told you this Blog would come with a workout. Below are some questions to ask yourself

As a child, what did you identify yourself as?

When someone asked you "What do you want to be when you grow up?" What did you answer?

Did you stay true to your childhood dream? If so how did you create and follow that path? If not, when and why did it change?

Definition of an Entrepreneur

2007-12-27T22:36:00.000-05:00

Somebody asked me once to give them the definition of an entrepreneur. The answer was simple. An entrepreneur is someone who has the passion and courage to turn a concept that gives them joy into a business and is willing to take the necessary actions to achieve their desired goals.

An entrepreneur can be anyone who has a dream, concept, passion or desire to better themselves, their way of life, or the world around them. The word entrepreneur means different things to different people. To some it means unemployed, to others it means wealth, and then there are those who just aren't sure.

The intention of this blog is to pick apart the definition of the entrepreneur, using case studies, and my own real life experiences to enhance your experience as an entrepreneur. This is a blog for entrepreneurs and those considering taking the plunge to entrepreneurship. This isn't meant to be a data dump. For those of you who are interested I will have exercises that you can go through to determine if you are on the right path. There will be questions to ask yourself. Don't worry I won't ask you to do anything I haven't been willing to do myself. This blog comes with a workout.

I have had the pleasure to work with dozens of entrepreneurs, and I can share some amazing stories, strategies, and tips on how to implement these strategies in your own entrepreneurial life. This is an opportunity to hear from the ones who have come before you, the ones that have been there and done that. But it has been my experience that unless you start implementing and taking action yourself this will just be more information for you to talk about around the water cooler. Success stories and tips are a great resource, but they are just a resource. The most important thing to remember is "take action" and utilize these tips and techniques to fit your style. If you try to copy or adopt another's philosophy it will be the equivalent of wearing someone else's shoes. They may fit, but you know they aren't yours and as a result people will start to wonder why you are walking funny.