Have you ever thought about why you became an entrepreneur? One day you thought it was a great idea and then it happened. Now perhaps you’re in the thick of it and can’t recall how it all happened so quickly!
These reasons might help you understand and/or remember why you became an entrepreneur.
Top 10 reasons you’re an entrepreneur:
A passion for adventure
Need for a challenge
Seek self-improvement
To be unique
To find meaning
Independent minded
To inspire others
To make a difference
To find happiness
To be wealthy
This list is a light hearted way to understand the characteristics of an entrepreneur, but it’s the work and unending pursuit that make true entrepreneurs.
Did I leave any reasons off this list? Which reason tops your list? Would love to hear your thoughts.
Do you have any money tips to share? Which teleseminar tip was the most useful? We would love to hear your thoughts.
DSEF proudly sponsors the free Money Wi$e Women Get Smart Teleseminar Series hosted by Marcia Brixey, Founder and President of Money Wise Women Educational Services and author ofThe Money Therapist: A Woman’s Guide to Creating a Healthy Financial Life. The series covers topics related to business and finances and provides women the opportunity to learn from professional experts in a safe, comfortable environment.
Social media can be a tool to strengthen customer service and to give consumers an outlet to complain about a company. According to Convergys Corp, one bad tweet or one negative comment on Facebook can lose a company up to 30 customers.
How do you use social media to strengthen your customer service? Does your business have social media policy in place to deal with complaints? We would love to hear from you. Please share with us in the comments below.
DSEF and Council on Better Business Bureaus (CBBB) fosters honest and responsive relationships between businesses and consumers—instilling consumer confidence and advancing a trustworthy marketplace for all.
About the Better Business Bureaus As the leader in advancing marketplace trust, Better Business Bureau is an unbiased non-profit organization that sets and upholds high standards for fair and honest business behavior. Every year, more than 87 million consumers rely on BBB Business Reviews® and BBB Wise Giving Reports® to help them find trustworthy businesses and charities across North America. Visit www.bbb.org/us for more information.
Trying something out for free? It sounds great, but there may be a catch — free trials aren’t always free.You may end up on the hook for lots more products and find it tough to cancel.
For 13 years, the DSEF has been proud to partner with the FTC and other organizations to offer a wide array of education events and resources that encourage consumers nationwide to take full advantage of their rights and make better-informed decisions.
You’ll find a wealth of resources at www.ncpw.gov that will help you protect your privacy, manage your money, learn more about credit and debt, decipher advertising messages, and steer clear of fraud and scams.
Please take a moment to share the resources on this Web site with others in your communities and companies and, together, we’ll help build a nation of better-informed and educated consumers.
Think back to your school days. Who was your favorite teacher? What made that person so memorable? Most likely, he or she possessed the qualities of a great leader. You can become one as well if you acquire essential skills that will help you run your business more efficiently and build a strong team.
Here are some qualities of an effective leader:
Be a planner. Frequent planning time is crucial to any business. Great leaders are prepared for both daily and long-term responsibilities, which can only come from organized and prioritized planning.
Be proactive.This comes from effective planning. Identify and solve potential problems before they cause irreparable damage.
Be decisive. As a leader, you make important decisions for your business all the time. Although you don’t want to be hasty, you must make informed decisions and stand by them. In doing so, your colleagues will respect your ability to take the reins.
In addition, great business leaders must build a dedicated team. Here are some tips to help:
Listen carefully. Chances are you already do this for your customers. You encourage their feedback so that you can meet their needs. The same applies to your team. What ideas do they have? What problems are they facing? They should feel comfortable coming to you with these matters and will appreciate having an approachable leader.
Encourage communication. Listening is just one part of communicating. You also need to get everyone involved productively, and take action on their ideas. For example, when scheduling a meeting to plan new endeavors together, prepare an agenda beforehand and stick to it. After the meeting, touch base with your team regularly during the implementation of the idea. This is will allow everyone involved to be more productive.
Lead by example. This is especially important for creating a positive atmosphere. Teams will adopt your positive attitude and help create a strong morale. When people enjoy what they do, they have unlimited potential for success.
Delegate tasks. It may be hard to relinquish control at first, but you will show your team that you trust and respect them when you hand over some responsibility. Learn their strengths, and offer support along the way.
Emphasize teamwork. Your team members should know that everyone is working toward a common goal and that each person is vital to its realization. The feeling of being part of something greater than any one individual can be very inspiring, so don’t be afraid to tap into that.
Take criticism. This is an essential skill for any leader. Look at constructive criticism as a gateway to self-improvement. Sometimes it takes a step back in order to identify our own areas of weakness and improve.
Not everyone is a born leader, but dedicating yourself to these skills will be a valuable asset to your business. Like students in that favorite teacher’s classroom, your team will work hard and produce quality results.
What traits do you believe a great leader must have? Please share with us in the comments below!
9 Ways Your Small Business Has an Advantage Over Large Competitors
Have you ever experienced a pesky fly? You swat at it and try to shoo it away, but you can’t seem to get rid of it. Small businesses are like the fly that has an advantage over a slower, bulkier and less targeted approach. You see, big businesses have a lot of corporate structure that slows down progress. In this ever-changing environment, that means they can’t stay on the cutting edge! But as a small business, you’re a lot more nimble. This means that you can shine, and target your customer base, in a way that big businesses can’t.
Understanding your small business advantages can help you succeed. Here’s how you can take advantage of the benefits of being a small business:
Respond quickly – Start listening and talking to your target market and customers. Formalize a process for customer feedback and suggestions. When you hear something that you can improve on or implement easily to add more value to your products/services, make it happen!
Be flexible to market needs, changes and trends – Sometimes watching what big business can do seems intimidating, but they are usually focused on large volume products/services, and not products/services for smaller markets. Your business can focus on smaller markets for big success. Big business are usually slow in following trends. They want to make sure something will sell first. This again, is where you have an advantage. When you spot a trend, try it, anticipate the needs of your target market, and establish yourself as a leader or innovator.
Give personal attention – Big businesses are always trying to offer special incentives to make their customers feel more important. But that’s only an illusion. As a small business person you know your customers by name, what their favorite products/services are and what their needs are. Develop those relationships with your customers that big business can’t build authentically.
Specialize – Your small business can target unique products/services for niche markets that big business can’t afford to pinpoint.
Be creative – As a small business owner, you are always thinking outside the box to attract customers with limited marketing funds.
Build relationships and community – Small businesses can reach and develop relationships more authentically with local influencers that promote their businesses by word of mouth and create a more deeper and loyal following.
Manage your costs – Small businesses requires less funds to invest, market and innovate, thus making them more cost efficient. But you need to stay on top of your finances to come out ahead!
Avoid red tape – Ideas, complaints, and suggestions go straight to those who can implement or correct quickly without going through endless channels like in a large business.
Enjoy a lot of room for growth – As a small business you have plenty of room to grow and generate greater profit margins.
When you take the time to evaluate where your competitors fall short and focus your business on satisfying those consumers, you can leverage your small business advantages and nurture a loyal following. Your growth will be connected to how well you can successfully utilize these advantages.
How do you take advantage of the unique benefits of being a small business? Would love to read your thoughts in the comments below!
Professional Development is Critical for Your Business Success
Whether you’re just starting out in business, or have been working your business for years, a key to continued growth is ongoing professional development. The world around you is constantly evolving, and the only way you’ll keep your business relevant and growing is by keeping up. It’s one of the most valuable investments you can make in your business.
Think about what things you regularly spend time and money on to grow your business: a website, business cards, inventory for product demonstration, etc. Professional development should be on this list. New ideas, technologies, consumer needs, and product lines are constantly changing. Don’t get left behind!
Here are some ways you and your business can grow through professional development:
Time management – This skill is vital to the self-employed. By learning to manage your time well, you can run a more efficient and profitable business.
Product expertise – Do you feel a dual sense of both excitement and anxiety when that new catalog or product line from your company debuts? It can be overwhelming to re-educate yourself every time new products are introduced. Get yourself to that quarterly or annual training that the company has in place. There, you will learn the essential features and benefits of new products and the best ways to market them to your customers.
Interpersonal skills – Even if you are a seasoned veteran, there is always value in improving your ability to engage with others. Running your own business requires the building and maintaining of relationships with existing and potential customers, colleagues in your upline and downline, and even those in the corporate division of the company. Devoting your time to your company’s professional development will help you perfect this aspect of your business.
Renewed motivation – Let’s face it: self-employment, although rewarding, is not always easy if you want to do it well. However, the support system of those pursuing the same goals as you will reenergize your commitment to your business. Make it a priority to physically attend local and national training opportunities; the rallying and motivating words of others are infectious. Use them to your advantage.
Successful companies have already invested time, money, and resources into creating effective professional development for sellers. Take advantage of the training they have to offer; it’s there to help you achieve your business goals.
And don’t forget to check out our resources here on our Direct Selling Education Foundation Blog as well. We provide new content every week to help you grow your business.
How do you grow professionally? What are some of your favorite resources for ongoing professional development? Would love to read your tips and resources in the comments below!
Free e-book “Business Owner’s Road Map to Success.” It has over 50 pages of techniques for everything a small business owner needs to master, from business planning and ethical selling to a success mindset. It’s all there and it’s free for you. To get it, just “Like” our Facebook Page here: http://on.fb.me/KsIN6P Pass it on!
Remember that old shampoo commercial reminding us, “You never get a second chance to make a first impression”? As any direct seller knows, a first impression is crucial for attracting and retaining new customers. In order to impress for success, focus on two components: your relationships with your customers and your own personal business style.
Relationships – The beauty of your business is the personal relationship you build with others. Here are some tips for nurturing it:
Tailor your services to fit your customer’s individual needs. For example, that new mom with an infant at home? She would welcome free delivery!
Reach out to your customers regularly, not just to promote your product, but also for constructive feedback. Even the most successful business owners have room for improvement!
Make it easy, fast, and convenient for customers to contact you for any reason. Time is a precious thing, and you will certainly impress by making your business dealings simple and friendly.
Put yourself in the customer’s role. Why would YOU buy from YOU?
Get to know your customers. Treat them like friends instead of one of many potential purchases.
Follow up after a transaction is made. Are they satisfied? If not, how can you make it right?
Conduct business with integrity. If something goes wrong, admit your mistake and correct it immediately. Customers will appreciate your commitment to their satisfaction and keep coming back.
Personal style – Get to know your own personal strengths and incorporate them into your business.
Don’t be afraid to get creative. Find your inner MacGyver; solve problems and market yourself in outside-the-box ways. After all, there’s only one you!
Plan ahead. Set specific goals for how you can include new ideas into your daily business.
Dress to impress. When conducting business in person, you should always look the part. By doing so, you will exude a confidence that appeals to others. Go ahead and take pride in your appearance.
Smile! It seems simple, but a positive impression starts with the expression on your face. So brighten someone’s day with a warm smile that says you are happy to be interacting with them and you love what you do.
You started this business because you believe in your product or service. When you show customers that you genuinely care, you leave them with a remarkable impression and put yourself on the path to success.
Free e-book “Business Owner’s Road Map to Success.” It has over 50 pages of techniques for everything a small business owner needs to master, from business planning and ethical selling to a success mindset. It’s all there and it’s free for you. To get it, just “Like” our Facebook Page here: http://on.fb.me/KsIN6P Pass it on!
Ethical Testimonials Help Build Your Brand and Your Business
Testimonials are one of the greatest marketing tools you have. Research tells us that people are a lot more likely to believe what others say about you than what you say about yourself. This is the reason that online shopping sites often have a place for customers to leave reviews about individual products (and why so many shoppers turn to them when making a decision about what to buy.) As a small business owner, you should be asking your loyal and enthusiastic customers for testimonials on a regular basis.
Yet it’s also important to be sure that your testimonials are accurate and ethical. This enables you to comply with Federal Trade Commission (FTC) rules regarding testimonials and endorsements, and also helps customers to trust you. After all, testimonials that go beyond the facts can damage your credibility, and lead to disappointed customers. And testimonials used in your marketing material that made health, income, or product claims beyond what you’re allowed to say legally can get you and your business into hot water.
So how do you get started using testimonials to promote your business? Here are some tips:
When asking for testimonials, provide testimonial starters such as:
What I like best about (Your name/business) because__________________________________.
The product/service was great because (it was easy, fast) _______________________________.
Working with (Your name/business) was great because it was able to help me__________________.
I would recommend (Your name/business) because____________________________________.
Use the complete testimonials whenever possible. This way you ensure that the customer’s intended message cannot be misunderstood.
If you’ve got a parent company, get approval to use the testimonials that address product, income, or health claims. Usually your company has a legal department that can determine whether or not you can legally market your business using the claims in the testimonial. When in doubt, don’t use it!
Use testimonials to overcome inherent objections in your business. If there are certain objections that you hear a lot, use a testimonial provided by a customer to address that concern. Print it in your marketing materials (with the customer’s permission, of course.)
Use testimonials to make a point or promote your message. Rather than just lumping all your testimonials together, use them strategically throughout your marketing materials. For example, if you are talking about how quickly you deliver your products, use a testimonial of a customer raving about the speed of delivery. It’s like the exclamation point on your message.
Asking for testimonials should be part of your sales process. Whenever you complete a transaction, make asking for a testimonial a part of your follow-up process. Once you’ve determined that the customer is satisfied, it’s a good time to say, “Would you be willing to provide me with a testimonial?”
Using testimonials that are accurate and stick to the facts can be a great marketing tool to help you build your business even bigger. How do you use testimonials to promote your business? Where do you put them? How do you ask for them? Would love to read your thoughts in the comments below.
Have you ever thought about joining a direct selling company? You may have heard that direct sellers enjoy making their own hours, earning extra income, and the friendship that comes with working with people you enjoy. But how do you get started? And is it too good to be true? Let’s explore:
First, what is direct selling?
Direct selling is the sale of a consumer product or service, person-to-person, away from a fixed retail location, marketed through independent sales representatives who are sometimes also referred to as consultants, distributors or other titles. Just about any product or service can be purchased through direct selling somewhere in the world. Many people think of cosmetics, wellness products and home décor as products that are often sold through direct sales, but add to that countless other product categories including kitchen products, jewelry, clothing, organic gardening supplies, spa products, scrapbooking supplies, rubber stamps and much, much more. (Source: Direct Selling 411)
Second, what’s the process of becoming a direct seller?
Many people begin by falling in love with a line of products/services and the company that provides them.
Sign up for the business kit from the direct selling company. Make sure there is a product buyback option.
Work with a mentor and follow the step by step training provided by the company.
Start talking to friends, family and neighbors about the products/services you love.
Share your experiences about using the products/services with people.
Set up meetings/parties to make sales.
Find people who love the products/services as much as you and help them get started.
Build a team and expand your business with people who want to own their own direct selling businesses.
Become a leader in your industry, continue your training and operate a successful business.
When you love a product or service, you naturally tell everyone you know. You want them to benefit like you have. In direct selling that process is weaved into a business system provided by a direct sales company. Word of mouth selling or promotion is one of the oldest and simplest business models. If you love something and can share it with others you can be a direct seller.
To learn more, check out this video about direct selling.
What else do people need to know about becoming a direct seller? Have you done it? Would love to read your thoughts in the comments below.
Have you ever thought about why you became an entrepreneur? One day you thought it was a great idea and then it happened. Now perhaps you’re in the thick of it and can’t recall how it all happened so quickly!
