 ___________________________________________________________________________________________________________ In this episode we welcome Buffalo/Niagara SCORE Chapter Administrator, Letasha Montgomery! If you are starting a business and have not heard of SCORE or have not explored your local chapter, you MUST head there today at www.score.org! SCORE is a nonprofit association dedicated to helping small businesses get off the ground, grow and achieve their goals through education and mentorship.  Because SCORE's work is supported by the U.S. Small Business Administration (SBA), and thanks to its network of 11,000+ volunteers, SCORE is able to deliver its services at no charge or at very low cost. SCORE provides: Volunteer MENTORS who share their expertise across 62 industries Free, confidential business MENTORING in person or via email Free business TOOLS, templates and tips online Inexpensive or free business WORKSHOPS (locally) and webinars (online 24/7) SCORE's 320+ chapters hold events and workshops locally across the U.S. and its territories, and match up entrepreneurs with local, volunteer mentors. In 2016, SCORE helped clients start over 54,000 small businesses!! Next Event! Be sure to check out SCORE's next online event: The Small Business Success Virtual Conference on June 8, 2017.  This half-day event offers educational webinars, exhibitor booths, and networking chat rooms to give you the information you need to succeed as a small business owner. You’ll hear from a number of industry experts as they share insider tips on various aspects of marketing, sales, financing, hiring, choosing a business location and more. Our Guest: Letasha Montgomery has been working with SCORE for several years now, initially as a volunteer mentor and most recently as the Chapter Administrator for the Buffalo/Niagara SCORE Chapter. In this interview, Letasha shares with us the many offerings of SCORE as well as some terrific local success stories, including one involving two goats! To reach Letasha for more information about her work or the resources available through SCORE, please email her at LetashaSCOREBuffalo@gmail.com.  Free eBook: Passion to Prosperity: Finding Your Ideal Side Business If you would like more information about how to find your ideal small business, please help yourself to a free copy of my eBook: "Passion to Prosperity: Finding Your Ideal Side Business". Although it was written with side businesses in mind, the process for determining your own small business is very much the same. Ask Your Questions or Share Your Feedback In the comments section of these show notes. At the Scattered to Streamlined Business Coaching Facebook Page By email at smallbiz101podcast@gmail.com Connect with Me At my business website, Scattered to Streamlined Business Coaching Join the Scattered to Streamlined Business Coaching Facebook Page Connect with me on Twitter Subscribe, rate, and review in iTunes

Small Biz 101 Podcast

SCORE - Interview with Letasha Montgomery, Buffalo/Niagara Chapter Administrator - SB013

 Free and Low-cost Small Biz Resources Online: Small Business Administration USA.gov  Entrepreneur.com  Local: Small Business Development Centers  Co-sharing work spaces Service Corp of Retired Executives (SCORE) 1 Million Cups  Local library Business specific: Associations Mentors Task specific: Market research: Small Biz 101 Podcast Episode 9: Research, Research, Research Marketing Online marketing guides and courses American Marketing Association Any business topic: Online guides and courses YouTube Dummies Books! When a Business Coach Makes Sense Where a business coach or consultant comes into play is when you’ve exhausted these resources and still need: Advice personalized to your business Someone with whom you can discuss ideas and narrow down choices Someone to help pull together the plan for you, finalizing the details and developing the action steps Someone to hold you accountable and celebrate the successes! Application Select one or two of the resources to explore. Get started today! Next Episode Interview with Letasha Montgomery, Buffalo-Niagara Chapter Administrator for SCORE Free eBook: Passion to Prosperity: Finding Your Ideal Side Business If you would like more information about how to find your ideal small business, please help yourself to a free copy of my eBook: "Passion to Prosperity: Finding Your Ideal Side Business". Although it was written with side businesses in mind, the process for determining your own small business is very much the same. Ask Your Questions or Share Your Feedback In the comments section of these show notes. At the Scattered to Streamlined Business Coaching Facebook Page By email at smallbiz101podcast@gmail.com Connect with Me At my business website, Scattered to Streamlined Business Coaching Join the Scattered to Streamlined Business Coaching Facebook Page Connect with me on Twitter Subscribe, rate, and review in iTunes

Free & Low-cost Resources for Starting Your Small Business - SB012

Find the Right Biz for You Series (Part 10) Welcome to Episode 11 of the Small Biz 101 Podcast – The 10th and final episode of the Find the Right Biz for You Series. We’ve covered quite a bit in past series episodes: Self-assessment Generating business ideas Business styles Business cautions Research - Is your idea a viable one? What will your business idea cost? Now that you have an idea of the business costs, where will that money come from? In this episode, I cover the following sources of funding: Self Family, friends, associates Debt financing Grants Equity financing Crowdfunding Self-funding Funding the business with the owner’s own money is the #1 source of financing for most small businesses. It’s also the one I almost always recommend for my small business clients, if they can swing it. Where might your money come from? Inventory your assets You may find you have more assets than you thought. Perhaps, an investment account that’s skyrocketed with the market the last few years. You may find assets you can sell to support starting up your business. Savings From what you currently earn Consider moonlighting for the sole purpose of saving for your new business Personal credit cards If you go this route, be sure to get the lowest credit card rate possible and NEVER be late or miss a payment, as often those rates go up with one missed/late payment. If using a currently-owned credit card, call the card company and ask to have your rate lowered. If using a new card, get one with the lowest rates. Check out these sources to find current offerings for hundreds of cards: bankrate.com, creditcards.com, www.lowcards.com Home equity loan There may be tax benefits to going this route and usually the rates are lower than from other sources. Be sure you will be able to pay it back or you could lose your home. Borrow against retirement 401(k) accounts Last choice source of self-funding. If you go this route, pay it back as quickly as possible. If you lose your job, you will be required to pay the total amount back within a very short period of time. You also will be double-taxed on the money as you pay back the loan with already-taxed money and have to pay taxes again when you withdraw the funds at retirement. Family, Friends, Associates People who know you and your work ethic and who like your idea often may be willing to support you. Here are some guidelines to follow: Never ask someone for money who you know may already be in any kind of financial trouble. If, for some reason you can’t pay them back, you’ve not only put your financial situation at risk, but you’ve harmed someone else – someone very important to you. Keep it professional. Like with any financial transaction, keep your interactions business-like. Give the person loaning you money your complete business plan and review in detail the financial section. Keep the emotion out of the interaction and don’t use your relationship as a way of “guilt-ing” someone into supporting you. If the person you have approached declines to help you, accept their answer graciously and move on. Do not let this hurt the relationship. Be sure to put the terms of the arrangement in writing. Include how much you will be borrowing, for what purpose, and what the terms are for paying the loan back. Sometimes it makes sense for you to give your personal connection a percentage interest in your new business in exchange for their money. This may provide tax advantages for the lender and it can incentivize the person to loan you money knowing that if the company takes off, their investment will increase in value. Keep the person updated as to how things are going with the business, even if your news is not as positive as you would like. It’s always better that they know the truth. Pay on time and as you agreed upon. Stick with your end of the deal. Debt Financing This is a loan made to you by a bank or commercial lending organization that must be repaid. There are hundreds of different types of loans for businesses. The following are some of the most often used by small businesses SBA Loans The Small Business Administration acts as a go-between for you and various lenders who participate in SBA programs. To explore SBA loans, click here. Line of Credit Loans If you have your business checking account with a bank, your bank may provide you with a line of credit for that account. These are short term loans intended to protect businesses in case of emergency or stalled income flow. When using your line of credit, money is transferred into your checking account up to a particular limit. Standard Commercial Loans These are your regular installment loans. A terrific free resource for finding these types of loans is www.C-loans.com. This website allows you to apply for loans with multiple lenders at one time. Loans may be secured with collateral or may be unsecured. Unsecured are more difficult to obtain and typically have higher interest rates than secured loans. The following are typical sources of these loans: The government provides small business loans at the federal, state, or local levels. A terrific “wizard” that walks you through various offerings to find those best suited to you is available at business.gov. Often banks offer loans for small businesses. Keep in mind that, if you live in a smaller community, you may have more success obtaining a start-up loan from a community bank with people who know you, rather than from the larger banks. Commercial finance companies also offer loans to small businesses. Of course, with any of these sources, you will need to have all of your  financial information (business AND personal) in order. It also helps for the lender to see that you already have committed a substantial amount yourself to the new venture. Grants While we often think of grants as being only for non-profit organizations, there are many grants available to for-profit businesses. Organizations with a focus on social or environmental benefits and certified as B-Corporations are most likely to be able to obtain grants for their work. Check out www.grants.gov for more information. Grants also may be available at the local community level. Look into your local small business administration office. help community development or a specific group of disadvantaged individuals. Equity Financing This occurs when someone gives you money and, in exchange, you give him/her equity – a percentage interest in your company. Think Shark Tank or The Profit. The upside means you have more capital to work with. The downside is that your ownership and control is diluted. If you enter into an equity financing arrangement, be sure to consult with financial and legal experts to ensure this is set up correctly. Venture capitalist firms These typically invest in large ventures and stay away from small businesses. Angel Investors These most typically are individuals who invest in your company. For a great story on how NOT to approach an angel investor, check out the first episode of the Start Up podcast called “How Not to Pitch a Billionaire”.  Angel investors do not have to be billionaires, or even millionaires. They could be the neighbor next door who is really excited about your business and has a few thousand dollars they are willing to invest. Think creatively here. You may have a potential angel investor in a company that offers complementary services to yours, or a supplier, or even a potential customer.If you can’t think of someone connected with you, you may want to consider looking into a service that matches angel investors with people/businesses searching for funding. Two excellent sources for this are: www.go4funding.com and www.angelcapitalassociation.org. Crowdfunding This source of funding has become huge in recent years. There are three types of crowdfunding: Reward crowdfunding In exchange for people providing financial support to you, you provide some type of reward like a free product or product sample. The most well known sources of reward crowdfunding are: Indiegogo, Kickstarter, and Gofundme. For people in the arts or anyone who considers themselves a “creators, Patreon is a terrific resource to explore. Debt crowdfunding In this situation, backers provide a loan to you or your organization. It is usually faster and easier to qualify for a loan through debt crowdfunding than through a bank. Two major debt crowdfunding sites are Lending Club and Kiva. Equity crowdfunding At this point, I’m sure you can guess that this is where you give away part ownership in your business for funding. Angel List is one of the equity crowdfunding sites that has been around the longest. For more information on the top 25 crowdfunding sites, divided up by type of crowdfunding, check out this article by Fit Small Business: http://fitsmallbusiness.com/best-crowdfunding-sites/ Next Episode Top free or low-cost business development resources for small business owners or want-to-be business owners. Free eBook: Passion to Prosperity: Finding Your Ideal Side Business If you would like more information about how to find your ideal small business, please help yourself to a free copy of my eBook: "Passion to Prosperity: Finding Your Ideal Side Business". Although it was written with side businesses in mind, the process for determining your own small business is very much the same. Ask Your Questions or Share Your Feedback In the comments section of these show notes. At the Scattered to Streamlined Business Coaching Facebook Page By email at smallbiz101podcast@gmail.com Connect with Me At my business website, Scattered to Streamlined Business Coaching Join the Scattered to Streamlined Business Coaching Facebook Page Connect with me on Twitter Subscribe, rate, and review in iTunes

Financing Sources for Your Small Business - SB011

  Find the Right Biz for You Series (Part 9) Welcome to Episode 10 of the Small Biz 101 Podcast – The 9th episode of the Find the Right Biz for You Series! We’ve covered quite a bit in previous episodes: Self-assessment Generating Biz ideas Business Styles Business Cautions Research - Is you idea a viable one? Today, we’ll get into the numbers. The finances: What you anticipate the costs will be to start the business? What the ongoing costs will be? Determining your cash flow and – the highlight – what is your breakeven point? When will your business turn the corner into profitability. Start-up costs Even at this early stage, it’s a good idea to at least have a sense of these numbers. They will reveal many critical things to you: How much you will need to begin to open the doors. Whether you afford the business on your own. Whether you need to put off starting the business for a bit while you save money. Should you use other sources of financing? When we think of start-up costs, we often think of these only having to do with the beginning of a business. I suggest that, if you have a business, it’s still relatively new, and you plan on making major changes once you’ve gotten it up and running, consider these new phases of the business to be start up costs as well. Property Down payment, if purchasing space Rent, if renting space + security deposit Build-out Costs Equipment Facility equipment Office furniture Technology equipment Initial supplies Decorating Signage Lighting Starting inventory Licenses, permits, certification costs Professional fees: Accountant Attorney – his/her own fees + incorporation fees Business Coach Graphic Designer Website designer Person who comes to your location to set up your computers and phones Professional Development: Education/Certifications Memberships Professional library Online Technology Expenses: Domain name Webhosting Online Scheduler Online payment processing Opening/Launch Activities: Advertising and other marketing costs Brochures, flyers Business cards Add on 15%. Rarely do actual costs come in below estimates. Give yourself a cushion.  Cash Flow and Break even Analysis Estimate of the gross income you anticipate generating on a monthly basis Estimate your ongoing monthly expenses: Rent/mortgage Insurance Utilities Online charges Loan payments Marketing and advertising fees Employee salaries Your salary Ongoing independent contractor fees Inventory costs Taxes Maintenance + 15% Plot these estimates out in a spread sheet deducting the monthly expenses from the monthly gross income to calculate your anticipated net profit or loss. Once at the profit level, begin reimbursing your start-up costs, a chunk at a time. When you reach the point where your income consistently covers your expenses and the start-up costs have been reimbursed, this is your Breakeven Point. Celebrate!!! The cash flow and breakeven analysis will also provide you with valuable information: How much money will you need to set aside to support the business until it reaches a profit point? Do you need to adjust factors around the source of your income (even changing your business model, possibly) to take your business into the black in a time frame that works for you? Can you cut expense estimates to meet your needs? Do you have enough money to start this business on your own or will you need to obtain funding from other sources? Coming up Getting creative with sources of financing: You Your family, friends, and associates Debt financing Equity financing Crowdsourcing Other valuable free or low-cost resources for starting up a small business. Free eBook: Passion to Prosperity: Finding Your Ideal Side Business If you would like more information about how to find your ideal small business, please help yourself to a free copy of my eBook: "Passion to Prosperity: Finding Your Ideal Side Business". Although it was written with side businesses in mind, the process for determining your own small business is very much the same. Also, go back and listen to previous episodes of this Series, if you haven't already. Ask Your Questions or Share Your Feedback In the comments section of these show notes. At the Scattered to Streamlined Business Coaching Facebook Page By email at smallbiz101podcast@gmail.com Connect with Me At my business website, Scattered to Streamlined Business Coaching Join the Scattered to Streamlined Business Coaching Facebook Page Connect with me on Twitter Subscribe, rate, and review in iTunes  

How Much Will It Cost to Start My Business? - SB010

Find the Right Biz for You Series (Part 8) Now that you know what business you would like to start, Should you make the leap into small business ownership? Make sure you've done all of your research before making this decision.  Whether you are in the process of deciding on your business idea or have already made the decision and are working on the market research section of your business plan, follow along for a variety of resources for beginning your search. Three Areas to Explore: The Industry The Competition The Clients/Customers Sources of Information: Industry groups and associations Industry publications, articles, and newsletters/blogs Industry conferences Visit the competition and evaluate - Online and In-person Local Chamber of Commerce Marketresearch.com Census.gov USA.gov Local library Connect with someone already successful in the business Share idea and get feedback from supportive friends, family, and colleagues Develop list of potential customers and survey: Online, phone, email surveys Focus group Free eBook: Passion to Prosperity: Finding Your Ideal Side Business If you would like more information about how to find your ideal small business, please help yourself to a free copy of my eBook: "Passion to Prosperity: Finding Your Ideal Side Business". Although it was written with side businesses in mind, the process for determining your own small business is very much the same. Ask Your Questions or Share Your Feedback In the comments section of these show notes. At the Scattered to Streamlined Business Coaching Facebook Page By email at smallbiz101podcast@gmail.com Please Connect with Me At my business website, Scattered to Streamlined Business Coaching Join the Scattered to Streamlined Business Coaching Facebook Page Connect with me on Twitter Subscribe, rate, and review in iTunes

Research, Research, Research - SB009

Right Biz for You Series (Part 7) Can you imagine how scary it might be to transition from a long career in athletics to one in a completely different industry about which you knew very little? Well, today's guest, Jeff Olinger, did it and did it well! Within a short period of time Jeff reached the top 10% level of his new organization, opened his own office, and currently is expanding his business. I am excited to present to you this interview in which Jeff tells us how he took the valuable experiences and skills he learned as a college basketball coach and transferred many of them effectively into the financial industry. While his is a story of transitioning from athletics to business, what we discuss applies to anyone moving from one industry to another. In this interview, you will hear practical applications of the fundamentals included in earlier episodes of this Right Biz for You Series, as well as tips and resources for continuing to grow a business once established. Jeff shares with us his stories about the importance of: Communication and connection with others - in all stages of business development, from researching a new industry to starting up a new field, to increasing success within that field Mentorship Putting vision, goals, and objectives to paper Dreaming BIG! Surrounding oneself with good people   For more information about Jeff Olinger and his inspiring work, please visit: Jeff Olinger Thrivent Financial connect.thrivent.com/jeff-olinger 563-382-1809 Jeff.Olinger@Thrivent.com     Coming Up: I will be continuing the series on finding your ideal small business idea. I’ll be discussing how to determine the viability of your business idea. Does it have legs? We will review current methods for researching your proposed industry, business, and competitors. Free eBook: Passion to Prosperity: Finding Your Ideal Side Business If you would like more information about how to find your ideal small business, please help yourself to a free copy of my eBook: "Passion to Prosperity: Finding Your Ideal Side Business". Although it was written with side businesses in mind, the process for determining your own small business is very much the same. Ask Your Questions or Share Your Feedback In the comments section of these show notes At the Scattered to Streamlined Business Coaching Facebook Page Personally, by email at smallbiz101podcast@gmail.com Please Connect with Me Let's schedule a free consultative call to discuss your small business needs and questions! You may reach me: At my business website, Scattered to Streamlined Business Coaching Join the Scattered to Streamlined Business Coaching Facebook Page Connect with me on Twitter Subscribe, rate, and review in iTunes

From College Basketball Coaching to Financial Advising - SB008

Find the Right Biz for You Series (Part 6) When determining the ideal small business for you, make sure you give consideration to potential pitfalls and address them before they become significant issues. Caution #1 – Current Employer Considerations Many people start their businesses as a side business, building up their new venture during off hours, after work and weekends, while continuing to work a full time job. A side business is a great way to test the waters of your business idea; however, there are some preliminary cautions to consider. Employment Agreement If your idea for a business involves providing a similar service or product to what your employer currently provides, consider whether you have an employment agreement with your employer. If so, check to see if it contains a non-compete clause. If it does, read it carefully to see: what the clause prohibits you from doing; for what period of time; and within what geographic range. Then check with an attorney who works in the employment law field in your state. Even if the clause appears to not apply to your circumstances, it is important to obtain a legal opinion. Your employer might see another perspective. Additionally, each US state has its own regulations and court opinions pertaining to non-competes. In some states, these agreements are close to unenforceable with the requirements for these clauses being quite stringent. In others, a broader interpretation may be permitted.  Alternatively, it may appear that the non-compete clause does directly apply to your new business idea. Don’t be discouraged. Again, check with an attorney in your state. Sometimes employers create these clauses without even knowing (or caring) whether they are enforceable because just having the language tends to have a chilling effect and may deter someone from working for a competitor or becoming a competitor just for the clause’s existence. A reminder, I am not an attorney and am not providing legal advice. I’ve just worked in the employment law compliance field long enough to know that if such a clause exists, an attorney’s opinion is critical before moving forward with your business. Employment Manual Even if you do not have an employment agreement between you and your employer, that does not mean you are in the clear. There may be a non-compete clause in your employment manual. If so, seek that legal opinion! Other company policies may also require consideration, whether or not your proposed business is related in any way to that of your employer’s. One policy to look out for is usually called something like Outside or Secondary Employment. What these policies typically state is that your job with your current employer is your primary responsibility and no other job or venture may take priority. Any time your employer requires you to work, including overtime or any time not on your regular schedule, you may not be permitted to allow another job or business to interfere. This policy may also state that you are required to tell your employer if you intend on working for a second employer, including yourself. Prior approval of your employer may be required. Your Time, Your Equipment, Your Supplies Often it is tempting to work on researching your new business ideas or working on establishing your new venture while work is slow at your employment location. Fight the temptation! Never put your current source of financial income in jeopardy by crossing this line. Additionally, never use company equipment (e.g. computers, phones, software) for work on your business. This includes company-owned laptops or phones you are permitted to take home. Usually companies limit use of their equipment to their business purposes only. Same goes for office or work supplies, no matter how seemingly small or insignificant. Tell Your Employer If you feel your employer will be supportive of your decision to begin a side business or start a new small business, by all means, let your bosses know. There often are benefits to having this discussion. If your idea is complementary to your employer’s business, there may be opportunities for both ventures to support each other. My prior employer became my primary source of client leads when I started up my first business. I referred business to them as well. People frequently leave their employers and become consultants to those businesses making it a win-win situation for both parties. Not only may you have a good client right from the start, but your former employer also may save the overhead expenses of keeping a full-time employee on the payroll. Caution #2 - Avoid Overwhelm/Finding Time As with most people, you likely have a pretty busy life to start with. Be careful to set boundaries to avoid overwhelm and stress. Whether you start this as a side business or jump right in full-time, starting a business takes a tremendous amount of time and effort. Key strategies for avoiding overwhelm: Set aside regular days and times for working on your business. Treat it like a second job if you currently are employed. Even if you are working on your new business full time, group your tasks into categories, then work only on one or two categories per day at particular designated times. This helps you maintain focus and eliminates the overwhelm from pages of to-do lists. Ensure you have support of key people around you. Cut nonessential activities and stop committing to things that do not align with your priorities. Key strategies for finding time: Determine your "Facebook Factor" for lost time, similar to the Latte Factor David Bach  created for finding lost money. Keep a log for a few days, documenting the activities you are performing throughout the day. You are bound to find time leaks with time spent on: social media, checking email, checking online news, catching “just a few minutes” of the latest hottest Netflix show. Limit these activities and use the found time to focus on your new venture. There are several apps available to help you track your time. A few include: Toggl, ATracker, and RescueTime. Use a blocked time weekly schedule. Group all of your activities that require significant amounts of time, both professionally and personally, into categories. My major categories include: Work, Business Development, Business Administration, Personal Care, House Administration, and Meetup (I run two active Meetup groups in my area that require chunks of my time). What are your major categories of activity? Once you have determined these, sit down with a blank weekly category, block out time you wish to keep open for time off or time with family or just to catch up on activities, then schedule blocks of time throughout the week to take on just one or two of your designated categories per day. Get help! In what areas can you hire help or use technology to free up your time for income generating activities. Examples of help to consider include:A virtual or in-person assistant A bookkeeper A house cleaner A pick up and drop off dry cleaning service An online grocery shopping and delivery service, like Peapod or Amazon Prime Pantry  Caution #3 - Avoid Scams If someone offers an opportunity to make money quickly with little effort and “just a small” investment, run for the hills! There are many opportunists out there with whom caution should be taken. Here are a few to particularly watch out for: Work-at-home offers that require a pay-in Medical billing home businesses Investment or business opportunity seminars (not to say there are not good ones, but do your research) Anything that requires paying for the promise of a job or business Certain multi-level marketing plans that actually are pyramid schemes (again, there are many good ones out there, but do your research to make sure the one you are considering is reputable) Email messages offering opporunitites for you to generate income but that require you to immediately provide personal data or financial information. Here is a recent article in my local newspaper warning University at Buffalo students about this type of activity: http://buffalonews.com/2017/02/09/feds-warn-ub-students-email-scam/ The Federal Trade Commission has a variety of resources for detecting Business Opportunity Scams. Be sure to check these out before moving forward with any questionable business opportunity. Don’t forget that the best small businesses are those that involve something you enjoy doing. Often these scams don’t even come close to this test. Coming Up: I will be continuing the series on finding your ideal small business idea. Soon, I’ll be discussing how to determine the viability of your business idea. We will review current methods for researching your proposed industry, business, and competitors. You will also hear an interview I conducted with one of my former clients, a gentlemen who started off his career as a former college basketball coach and transitioned into the peak pinnacles of the entrepreneurial world of finance. Free eBook: Passion to Prosperity: Finding Your Ideal Side Business If you would like more information about how to find your ideal small business, please help yourself to a free copy of my eBook: "Passion to Prosperity: Finding Your Ideal Side Business". Although it was written with side businesses in mind, the process for determining your own small business is very much the same. Also, go back and listen to Episodes 1, 3, and 5 of this Series, if you haven't already. Ask Your Questions or Share Your Feedback In the comments section of these show notes. At the Scattered to Streamlined Business Coaching Facebook Page By email at smallbiz101podcast@gmail.com Please Connect with Me At my business website, Scattered to Streamlined Business Coaching Join the Scattered to Streamlined Business Coaching Facebook Page Connect with me on Twitter Subscribe, rate, and review in iTunes Disclosure This post may contain links to products or services with which I have an affiliate relationship. Any commissions or bonuses I receive from your actions on such links go to support the continued production of this podcast.    

Three Critical Small Business Cautions - SB007

    Join my guest, Howard Holliday, and me as we discuss our recent professional development book club selection, The Slight Edge. While I hadn't intended to do book reviews on this podcast, I found the principles contained in this book to be too good not to share. Hope you enjoy our lively discussion of this and other books that have impacted our lives.    Resources: The Slight Edge by Jeff Olson The Miracle Morning by Hal Elrod Think and Grow Rich by Napoleon Hill The One Thing by Gary Keller and Jay Papasan The 10x Rule by Grant Cardone The Compound Effect by Darren Hardy The Success Principles by Jack Canfield War of Art by Steven Pressfield Turning Pro by Steven Pressfield The Bible (I'll let you select the version you prefer) The Science of Getting Rich by Wallace Waddles Awaken the Giant Within by Anthony Robbins Howard Holliday Contact Information: On LinkedIn, Facebook, Twitter Email: hholliday3@gmail.com   In the Buffalo area and interested in joining our Professional Development Book Club? Join us here Ask Your Questions or Share Your Feedback In the comments section of these show notes. At the Scattered to Streamlined Business Coaching Facebook Page Personally, by email at cwhitesell@scatteredtostreamlined.com Please Connect with Me At my business website, Scattered to Streamlined Business Coaching Join the Scattered to Streamlined Business Coaching Facebook Page Connect with me personally on Facebook and on Twitter Subscribe, rate, and review in iTunes Disclosure This post may contain links to products or services with which I have an affiliate relationship. Any commissions or bonuses I receive from your actions on such links go to support the continued production of this podcast.

Book Talk: The Slight Edge and More! - SB006

[shortcode-variables slug="subscribe"] Find the Right Biz for You Series (Part 5) One statement I hear often is: “I want to start a business but I’m not sure what I want that business to be”. If you have that same feeling, you are in the right place. With these first several episodes of this podcast, I am walking you through this process of discovery to help you find the ideal small business for you. In Episode 001, we discussed the importance of conducting a self-assessment (and how to do so). In Episode 003, I talked about the various business styles, how to generate business ideas and gave you some tools to help you determine your own ideal business. Along the way, in Episodes 002 and 004, you heard interviews with people either reinforcing the discussed concepts or sharing their own experiences. If you haven’t heard these yet, I encourage you to go back and check these episodes out. Wouldn’t it be great to make 2017 the Year of Your New Business? In this episode, I am providing my top 10 list of online businesses for people on the move. I created this list initially as a blog post for Sisters in Sports, an online community for wives of professional athletes and college/professional coaches. I am the wife of a college basketball coach and, in the last five years, have lived in five different homes in three different states as a result of my husband's job. I've loved every (almost) minute of this adventure, but also found it took its toll on my work.  There are many other wives/partners in athletics in the same boat – maybe in jobs they couldn’t keep or having their own businesses they could not maintain. Although we hear regularly about professional athletes and big time coaches making six or seven figure incomes, the reality is these people make up a minuscule percentage of this workforce. As a result,  it is still important for most partners to contribute to the household income.  As I was creating this list, I started thinking about how these businesses apply to many more people outside the athletics world. These work for anyone who is on the move – military spouses, for example – or anyone who likes to travel and wants to take his or her own business with them.  These are proven, profitable online entrepreneurial ideas that allow you to be your own boss and work on your own time. The Top 10 Online Businesses for On-the-Move People 1. Virtual Assistant Most virtual assistants work on a freelance basis, performing many, if not all, of the functions of an executive assistant: • Preparing attractive presentation materials • Formatting business correspondence, contracts, and proposals • E-mail management • Travel arrangements • Managing social correspondence This work may be performed from the comfort of your home with just a computer. Non-urgent work usually may be performed on your own schedule. If you move, it makes no difference to your clients. You may begin developing this business immediately by: • Reaching out to people you already know who may be in need of this assistance or who may know of someone else who could use this type of help. • Working for someone else who runs his or her own virtual assistance service. Typically, these businesses have clients already or have inquiries coming to them regularly so they need skilled, reliable people to do the work. • Sign up to perform work as a freelancer under an online service such as Upwork, Freelancer, or Thumbtack. 2. Graphic Designer Are you skilled at designing or creating: • Logos and brand identity products? • Business and advertising products such as: brochures, business cards, postcards, website and social media banners? • Graphic designs for clothing and merchandise, such as mugs, hats, and t-shirts? • Book or magazine illustrations, invitations, and greeting cards? • Labels for beverage, food, or retail packaging? Use those skills online, from wherever you are and whenever works for you. Like virtual assistants, you may hang out your own online shingle or go to work for an already established online service such as 99 Designs or Fiverr. These provide great ways to fine-tune your skills and begin receiving testimonials that will lead to more, higher paying work. 3. Bookkeeping Do you love to work with numbers, charts, and spreadsheets? Are you the person who has to balance their checkbook to the penny? Online bookkeeping may be right up your alley, especially for small business owners abhor this these types f tasks! Knowledge of accounting software such as Quickbooks, Freshbooks, Sage, and Zoho is important to have or to be able to learn quickly. 4. Website or App Design Even if you do not already have web or app development skills, but think you would enjoy doing this type of work, there are several online programs to help you learn and get you started in business such as Skillcrush and General Assembly. 5. Online courses or eBooks If you are an expert at something, people likely would be willing to pay to learn from you. There are several resources for learning to create these online products. My favorite is Flipped Lifestyle. You’ll learn valuable tips and resources just from reading the blog or listening to their podcast. 6. Social Media Marketing Do you have a difficult time pulling yourself away from Twitter, Facebook, Pinterest, or Instagram? Have you noticed how prevalent advertisements for businesses and organizations have become on these sites? Many small businesses and non-profits are looking for people who have the time and ability to create and execute their social media marketing campaigns. 7. Online Reselling I recently found a treasure trove of posters and basketballs signed by famous professional athletes in our basement. These go back to the days when my husband use to run camps for these athletes and would end up with more signed products than he knew what to do with. With my husband’s OK, I posted a number of these pieces online at eBay, sold them all within two weeks, pocketing enough income to pay for our Christmas gifts and travel. Online services such as eBay and Amazon reselling are terrific for selling gently used or collectable products. Many individuals have created a business from this. There also are apps for selling locally, similar to Craigslist, but a bit safer with a verification process. I’ve been using LetGo to great success. Facebook Marketplace is another local online resale outlet to check out. You would be amazed at the number of people who have developed their own profitable business by reselling their own goods and products they’ve found at garage or estate sales. 8. Etsy Sales Speaking of online selling – if you have a talent for creating handmade goods from pillows to hats to candles, even furniture, Etsy is the world’s largest independent marketplace for selling your products. Visit the website to get an idea of the wide variety of products offered by people there. 9. Freelance Proofreading and Editing Are you one of those people driven crazy by misspelled words or poor grammar when reading books, articles, or advertising materials? This may be the perfect income-generating online business for you. An excellent resource for learning the ins and outs of starting and growing this type of business is the Copywriting and Editing for Dummies book. In fact, when researching any of these businesses, check to see if there is a related “for Dummies” guide. These books are written by top experts in their fields. The content is presented in a fun and easily digestible way. 10. Online Translation and Transcription Service You may have lived in more than one country and learned more than one language. Have you considered using those language skills to assist others? There is a growing need for this type of work by all sizes and types of businesses, government entities and non-profit organizations. Services such as One Hour Translation and Gengo can get you up and running almost immediately as one of their translator/transcribers. * * * * * Put this information to work for you. Check out some of these ideas if you see one or more that appeals to you. If you would like more information about how to find your ideal small business, please help yourself to a free copy of my eBook: "Passion to Prosperity: Finding Your Ideal Side Business". Although it was written with side businesses in mind, the process for determining your own small business is very much the same. Ask Your Questions or Share Your Feedback In the comments section of these show notes. At the Scattered to Streamlined Business Coaching Facebook Page Personally, by email at cwhitesell@scatteredtostreamlined.com Please Connect with Me At my business website, Scattered to Streamlined Business Coaching Join the Scattered to Streamlined Business Coaching Facebook Page Connect with me personally on Facebook and on Twitter Subscribe, rate, and review in iTunes Disclosure This post may contain links to products or services with which I have an affiliate relationship. Any  commissions or bonuses I receive from your actions on such links go to support the continued production of this podcast.  

Top 10 Online Businesses for On-the-Move People - SB005

[shortcode-variables slug="subscribe"] Right Biz for You Series (Part 4) In today's interview with Executive Coach and Leadership Development Trainer, Ed Molitor, we hear practical applications of the fundamentals included in Part 1 (Self Assessment) and Part 3 (Generating Business Ideas) of the  Right Biz for You Series. We will learn how this former college basketball coach, mortgage banker, public speaker, and military corporate recruiting expert took the valuable experiences and skills he learned from these positions to ultimately start his dream business where he is living his "Why" every day.  Ed provides valuable information about how he was able to successfully create his first leadership development training event filled with members of his target audience.  He discusses how surprised he was at where his initial business came from, as well as how challenging it was to discover people he thought he could count on turning out not to be quite so welcoming.  We will learn about the importance of living by your Eulogy Virtues and not your Resume Virtues. Ed explains how he has incorporated his professional and personal Vision for Success into his work and how his wife, Nancy, is an integral part of his success. These two certainly are inspiring role models for their two young children. For more information about Ed Molitor and his inspiring work, please visit: Ed Molitor The Molitor Group, LLC www.TheMolitorGroup.com Ask Your Questions or Share Your Feedback In the comments section of these show notes At the Small Biz 101 Podcast Facebook Page Personally, by email at cwhitesell@scatteredtostreamlined.com Please Connect with Me At my business website, Scattered to Streamlined Business Coaching Join the Small Biz 101 Podcast Facebook Page Connect with me personally on Facebook and on Twitter Subscribe, rate, and review in iTunes  

From Basketball Coach to Leadership Coach - SB004

[shortcode-variables slug="subscribe"] Right Biz for You Series (Part 3) This series is for people who are thinking about starting their own small business but may not be sure of the type of business or, who may know the type of business, but not be sure if it’s a viable one. Even if you already have a small business, this series may help you validate that you are doing the right thing and give you some additional ideas for making your small business even better. Generating Small Business Ideas How to Begin In Episode 001, we explored getting to know you - doing a self-assessment of your skills/knowledge/strengths/passions /interests/curiosities. If you did not have a chance to listen to that episode, I encourage you to do so. If you don’t have time for that, take a few moments now to think about those aspects of you. The ideal situation is to find a business that blends your passions/interests with your skills/knowledge/strengths. It often helps to jot your ideas down on paper, then begin generating ideas by combining some of your favorites. Example provided of former college basketball coach, Ed Molitor, who transformed the skills/knowledge he gained from this and other positions into his own leadership development consulting firm where he is finding joy in living his “Why” by helping others every day. To check out Ed Molitor’s work, please visit here. Three Key Business Styles There exist a wide variety of business models that is growing and changing with our ever-expanding technologies and economics. In this segment, we explore the following three models most typical for a small business: Instruction-based: You teach your client a skill Service-based: You provide a service for your client Product-based: You sell a tangible product to your client Instruction-based Have you or a member of your family ever been taught to play an instrument? Has a company you’ve worked for ever brought in a consultant to work with the sales staff to teach them effective selling techniques? Have you ever hired someone to come to your home to organize your office or garage then taught you how to maintain it so you are never mired in mess again? All of these individuals own or work for an instruction-based business. The following are examples of instruction-based roles: Youth athletic skills coach Camp coordination advisor Human resource consultant Personal stylist Piano instructor Sailing instructor Sales or leadership consultant Social media marketing consultant Software consultant Weight-loss coach Weight training instructor College selection advisor This type of work may take a variety of forms. It may involve working with a person or company, in-person, at your location or at theirs. Communications may also be handled electronically: via phone, email, or Skype. For some businesses, group classes – either in-person or virtual - may be the ideal format in which to provide instruction. Service-based With a service-based business, you perform a task or complete a project for your client. They likely also will learn in the process, but do not have a desire to know the entire process, so leave that up to you. Examples of service-based roles: Financial Advisor (client) Website designer Tour Guide Computer maintenance technician Entertainer Lawn care Landscape designer Auto repair Insurance Broker (client) Camp coordinator Pet groomer, walker, or sitter (or all three) Photographer Property Manager Virtual assistant Tax Preparer Product-based With a product-based business, you sell something tangible to your customers. It may be something of your own creation: • Online courses or books • Artwork • Leather crafted jewelry • Blended essential oils • Sports-inspired home goods • Food You may also enjoy selling something that someone else has created and that has a strong business foundation already established behind it. Although it does not have to be, often these situations involve network marketing companies. Here you may enjoy selling things like: • Skin care products • Coffee or tea • Amazon online or eBay product seller Hybrid There is a common fourth alternative – a combination of any or all of the above. As a business coach, I provide instruction on many aspects of starting a business that my clients then run with. I also create their business plan, providing a service, so they don’t have to. If I offered a book on business planning, that might be my product. There – a hybrid business of all three styles. Application Return to your list of skills, knowledge, strengths, passions, and interests. Consider the three types of businesses. If you were to use some of your best skills or your favorite interests, which style of business would be the best fit? Sources of Small Business Ideas Still stumped or just want to look at more ideas? Check these resources out. Google It! Conduct an Internet search for: • Small business ideas • Side business ideas • Best small businesses One article I frequently send people to is offered by Ryan Robinson, 101 Best Side Business Ideas to Start While Working Full-Time Whether you want to start your business as a side or full-time one, there are tons of great ideas in this article. Don’t limit yourself. Jot down ideas you see that may interest you that you would like to explore further. Entrepreneurial Magazines (online or paper) My favorite magazine sources for business ideas are: • Inc. • Entrepreneur • Success If checking these online, search for articles that reference small, side or home-based businesses. Look also for business “trend” ideas. Entrepreneur magazine’s December issue typically includes a “Hot Business Trends” article for the upcoming year. Television Shows Watching shows like The Profit and Shark Tank help generate unique and creative business ideas, along with valuable business development insights. Amazon.com Amazon is a terrific research resource. Search for books pertaining to small, side or home-based businesses. Review the preview pages for the books receiving the highest ratings. Often, just by reviewing the online (and free) tables of content, you may get some valuable ideas. If you see books that look particularly appealing, make the investment and research further. Outrageous ideas Looking for something particularly “out-there”? Check out www.Flythecoop.tv where the focus is on people turning sometimes bizarre – very creative passions into businesses. Watch the videos there. You never know what will come to you. Application Think about the intersection of your favorite skills/strengths with your biggest passions and interests.  Think about the different biz styles: service, instruction, product. Which appeals to you most or seems to be the best fit for your ideas? Explore! Conduct an Internet search for small business ideas. check Amazon. Check entrepreneurial publications. Review Ryan Robinson’s list of 101 side biz ideas. Don’t put too much pressure on yourself, but at this point, try to come up with 2-3 business ideas to explore further. Have fun with it. You haven’t spent a dime yet and this is where it is exciting to consider limitless possibilities. Coming Up! Be sure to listen to Episode 4 where I interview Leadership Development Coach, Ed Molitor. Learn how he applied the self-assessment and generating business ideas processes into creating his small (not for long) business. From there we will be continuing the series on finding your ideal small business idea. Once you have narrowed your ideas down to two or three, it’s time to do more research and determine whether your ideas are viable. We will also be discussing small business cautions. I hope you will subscribe to the podcast, by clicking one of the links to your right. Continue with me on your path to creating your own wonderful, profitable, fulfilling small business! Ask Your Questions or Share Your Feedback In the comments section of these show notes. At the Small Biz 101 Podcast Facebook Page Personally, by email at cwhitesell@scatteredtostreamlined.com Please Connect with Me At my business website, Scattered to Streamlined Business Coaching Join the Small Biz 101 Podcast Facebook Page Connect with me personally on Facebook and on Twitter Subscribe, rate, and review in iTunes Disclosure This post may contain links to products or services with which I have an affiliate relationship. I may receive commissions or bonuses from your actions on such links.

Generating Business Ideas - SB003

[shortcode-variables slug="subscribe"] Right Biz for You Series (Part 2) (Note: Due to my being a newbie at podcasting, the sound quality on this recording is not as high as I would  like it to be. Please stay for the content. Lisa is amazing!) Interested in hearing about one of the most effective self-assessment tools out there? As you follow the journey of discovering your ideal small business, having a firm knowledge of: what drives you and what does not; your strengths and weaknesses; your patterns of thinking, feeling, and acting – is essential for moving forward. The Enneagram helps you uncover all of these and more. Join me as I speak with Enneagram Expert, Lisa Alessi, about this amazing tool for personal and professional transformation. Lisa Alessi Contact Information: Renaissance Leader Website Email: lisa@renaissanceleader.com       Resources from the Interview Nine Enneagram Types Books The Wisdom of the Enneagram Book by Don Richard Riso and Russ Hudson The Complete Enneagram by Beatrice Chestnut Websites The Enneagram Institute Beatrice Chestnut Programs and Enneagram Information Enneagram in the Narrative Tradition (work of Helen Palmer and David Daniels) The Enneagram in Business (work of Ginger Lapid-Bogda) App Know Your Type Enneagram App Videos The Nine Enneagram Types presented by Russ Hudson of The Enneagram Institute Ask Your Questions or Share Your Feedback In the comments section of these show notes At the Small Biz 101 Podcast Facebook Page Personally, by email at cwhitesell@scatteredtostreamlined.com Please Connect with Me At my business website, Scattered to Streamlined Business Coaching Join the Small Biz 101 Podcast Facebook Page Connect with me personally on Facebook and on Twitter Subscribe, rate, and review in iTunes Disclosure This post may contain links to products or services with which I have an affiliate relationship. I may receive commissions or bonuses from your actions on such links.

Enneagram Expert, Lisa Alessi Interview - SB002

Self Assessment: Your Business and You - SB001

All You Need to Know to Start or Grow Your Small Business! Through a combination of interviews and topics presented by your host, Connie Whitesell, you will learn how to: Determine the ideal small business for you and create a comprehensive business plan providing the roadmap for your business success. You will learn how to grow your existing small business through strategic planning, utilizing short-term and long-term marketing strategies tailored specifically to you and your industry, and implement personal and professional success strategies. For more information and to access show notes, please visit SmallBiz101Podcast.com

hubhopper

Small Biz 101 Podcast

hubhopper