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Things we've learned
Things We've LearnedHow Much To Budget For AdvertisingDetails: How much do successful businesses budget for advertising? A safe bet is 3 to 5% of your gross. Remember that in many mediums frequency is key. A small one column-inch print ad, or a couple of cable tv or radio spots can be buried. Get advice from a professional on the correct message and placement so you don't waste your advertising investment. Use a Celebrity to Raise MoneyDetails: When raising money, it's a good idea to have a celebrity be your first investor. By celebrity, I mean somebody that others will follow just because that person is in your deal. If you need to give them a little extra equity or a few warrants, it's worth it. For example, offer them a position on your board of advisors and give them some extra shares. Some investors might object that your celebrity is getting a better deal than other investors, but the celebrity's involvement is what attracts those other investors, so most investors will be fine with their having the extra equity kicker. 3x5 cards - Never be without themDetails: I am never without 3x5 cards, day or night. They are in the back pockets of slacks, in coat pockets, next to my bed, within reach in my car, on my desk, and hidden out of view but where I can find them in the bathroom, kitchen and den. I write myself and others notes on them. Use them as to-do aids - one to-do per card allows you to get the satisfaction of ripping it in two when the task is done. You'll find many, many other uses, I promise. An egg timer as a time management toolDetails: When it comes to keeping on track while working on my task list I've found an ordinary egg timer to be a very useful time management tool. I use a timer made by Lux (nothing fancy -- I think I got it at Wal-mart for less then $5). It has a dial that you can move to whatever time you want it to ring. Since I can set the timer up to 60 minutes it makes breaking tasks down into manageable parts a breeze. Plus, the quiet ticking of the timer as it gets closer to ringing -- signaling I'm getting closer to completion -- helps to keep me plugging along on my given undertaking. I follow a simple rule I set for myself that whatever I set the timer to I continue working on the task until I hear the ringer. Give it a shot and see how it works for you. Write sales proposals in the active tenseDetails: When pitching new business, don't write: "If selected, we would provide these services." Instead, write: "When selected, we will provide..." Postcards to Market Your WebsiteDetails:If you're not sending or passing out a postcard with your web address you're missing out on traffic. I've got a number of postcards that include my web site addresses as well as a little description, or call to action, offering my newsletter on them. You can include these in outgoing mail along with a little personal note if you wish. You can also hand them out at presentations you give or at networking events.
Use the whole business cardDetails: Is your business card only printed on one side? - Most are. Utilize the unused space on the back to print more information about your company, details on products or maybe directions to your location. Use a Celebrity to Raise MoneyDetails: When raising money, it's a good idea to have a celebrity be your first investor. By celebrity, I mean somebody that others will follow just because that person is in your deal. If you need to give them a little extra equity or a few warrants, it's worth it. For example, offer them a position on your board of advisors and give them some extra shares. Some investors might object that your celebrity is getting a better deal than other investors, but the celebrity's involvement is what attracts those other investors, so most investors will be fine with their having the extra equity kicker. Throw work parties!!!Details: If your in charge of employee relations or are an employer looking to spice things up, take it from my point of view, as I've been working in retail for a really long time. Throw parties or host get togethers to boost the employee morale, and here's why you should: Throwing these get togetheres or hosting special work activites can help your employess motivation towards their job. these parties or get togethers can serve as a great way to get to know one another better, therefore making it more comforatable to work together. And we all know that being happy on the job is a good way to get the employees satisfied overall with their job and are less likely to leave your company. Anyways, throw a party and watch the company improve!!!!!! Slow and steady wins the raceIf I could give anyone a small piece of advice on what sort of mind frame they should be in when starting your business, I would just say slow and steady wins the race. It can be such a long and sometimes exhaustive process. If you go into this with good intentions and the right state of mind, things just seem to work in one's favor much more readily. There will be setbacks and difficult times, but you have to learn to move forward. In the end you and your business will hopefully be stronger because of it. Category tags: Motivation How to add what you've learnedWe're in the process of making this easier, but for now, here's how: Copy the template below, click "edit" above. Scroll to the bottom of the page and you'll find the edit box. Paste in the template and type in your tip. Click "Show preview" to see how your edited version looks. When satisfied, click "Save page." Note: Please do not use this space for commercial messages promoting a specific product or service (however, you are encouraged to promote yourself or your company on your User page). Also, if you've never added information to Smallbusiness.com, you can visit the General help page for some basics.)
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