Getting Your Business Started with UMPH!

Let’s say you are like most entrepreneurs. You have an idea. You think it’s brilliant. Your friends think it’s gonna make you a billionaire, and you are ready to do what you need to, to make this dream a reality. Before you quit your job and run headlong into this new adventure, stop. Get the following in order so you can give yourself a fighting chance.

• Put together a real business plan, wearing the CEO, COO and CFO hats. The plan should outline all the basics surrounding the cost of your operations, for at least one year. This includes, but is not limited to, purchasing office equipment (desk, filing cabinets, bookcases, phones, fax, printer, scanner, PC, cell phone and a laptop + the relevant operational and Customer Relationship Management (CRM) software); rent, insurance, internet and phone services, marketing (we’ll cover this in more detail shortly), sales initiatives, gas, tolls, miscellaneous niche consultants, air and other travel expenses, entertaining, cost of producing your goods or delivering your service, admin help, IT person, lawyer, bookkeeper, accountant, and business filing fees, trade and other membership fees, printing and mailing charges.

• Assess the yearly & monthly costs of these. Add 25% – 50%.

• Create a separate marketing plan. Businesses that don’t take into account the cost and the time involved with getting the cash register ringing (read marketing, advertising and the process of selling) are planning to fail. A realistic marketing plan includes the cost of the following: figuring out your geographic footprint (local, regional, national, or global); best target markets – how and where you will engage them; developing a strong brand and the tools, a website and a suite of collateral materials that “speak” to your target market(s) – i.e. a business card, letterhead, brochure, website, oversized postcard(s), print ad, web ad, etc.; attending networking functions, sponsoring a local high school team, taking ads in industry or Chamber journals, sponsorships, internet marketing, direct mail campaigns, PR, attending trade shows and business expos, etc. The team you need to help you accomplish all these tasks should include: admin/sales help, marketing consultant, business consultant, graphic designer, webmaster, printer, and a marketing communications copywriter (SPECIAL NOTE about Copywriting: Getting an “A” in creative writing in college does not qualify you for this job! Being a staff reporter is not the right credential either. See “Making Sales with Authentic Copywriting” for more details).

• It’s a lot of hard work. Forget visions of lying on a beach somewhere in Hawaii. Newbie business owners who succeed live and breathe their business 24/7, and working incredibly long days for years! Fact is no matter how many people you know, creating trust (and generating sales) takes an organized, respectful process & time, lots of it.

• You don’t know everything. Smart entrepreneurs take the time to get educated as to all the hats (and their specific job functions) they have to manage, as well as the functions they need to outsource in the course of getting their business up and running quickly. I’ve interviewed scores of millionaires who admit that they would have made it to that “millionaire mark” sooner had they focused on what they did know how to do, versus leaving it up to chance, or worse, trying to juggle everything themselves long term. The ones that make it BIG all say the same thing — they hired or worked with an assortment of professionals who were specialists in a range of important areas — operations, systems, organization, marketing . . . and a marketing communications copywriter. Bottom line: most business owners who try to do everything over the long haul to “save money” usually end up treading water instead of sailing ahead.

(Special Note about Copywriting: Getting an “A” in creative writing in college does not qualify you for this job! Being a staff reporter is not the right credential either. Marketing copywriting is serious work, and a blend of art & science. See “Making Sales with Great Copywriting” for more details).

Making Time in ’08

(Revised from March 17, 2007 post)

Okay – so there are only 24 hours in a day, right? So how do you “make” more time? It’s not as hard as you think.

With just three simple steps, you can create the time you need to do stuff that keeps getting put on the back burner.

A) Take one week and track your time. No cheating – make a log that counts every second, from the moment you wake up to the moment your exhausted head hits the pillow ( I did not say this was going to be painless, did I?)

B) Take a hard look at all the time you wasted ( like the 30 minutes you blew surfing the net for travel deals when you should have been working on a project, returning phone calls, etc.). See how much of your time is dealing with e/mail … sorting, tossing, answering, etc. I bet right now you let yourself get involved with email at least 10 times a day, if not more … Effective time management can rescue you from this trap.

C) Take command of your life! Yup, Stage Three is the best, because you get to create the work-flow chart that meshes with your personality, your job and your responsibilties. And that very simply means you must allocate those precious seconds, minutes, quarter hours, mornings, etc. in a very deliberate, methodical manner. Keep in mind three things you must do each day – review tasks, sort by priority, allocate defined time to attend to each task. By embracing this self-produced time allocation system you will actually be able to take control, work more effectively and keep organized!

A well-organized schedule for at least 3 days a week should be something that includes:

1. Lunch time away from your desk, even if it’s a half an hour
2. Short breaks, one mid-morning and one in the late afternoon
3. Defined times to return and make phone calls
4. Prescheduled times to check, sort and toss emails
5. Calls or emails to follow-up on new networking leads

In between this new regimen, make sure you plan at least one full hour where you can work without interruptions. The last two days can be earmarked for catch up work, intensive sales calls, uninterrupted project time, special networking events or client meetings as needed.

It will take 21 work days to get this whole new approach integrated into your daily routine, so that you are comfortable with it. Studies have proven that this is the minimum amount of time it takes to firmly establish a new regimen. It may seem nonsensical, even annoying, but you will be fighting yourself as you move through this adjustment period. Do not turn back! This new system will work better than the daily frantic pace you have most probably gotten used to.

Know that each day will throw you an assortment of curve balls. But if you actively start to manage your time, you can create a customized system that allows for more effective & more productive workdays, which is never a bad thing!