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Habits to Build Your Business

Think about something positive you do during the course of any given day that would be considered habitual. Jogging every morning before work? Checking in on a loved one with a phone call? Reading at least a few pages a day of a new novel? Chances are you have established some good habits throughout your life that enrich you in some way. Building a successful business also requires good habits. How many on the following list are part of your business protocol?

Set goals. This tip includes both short term and long term goals for your business. Maybe a short-term goal would be to update and enhance your website. What can you do each day to achieve it? A long-term goal might be to expand your overall online presence by year’s end. What can be done each month to reach it?
Define success. Success is measured differently by everyone, so take some time to reflect upon what is important enough that represents success to you. For some, it might be a dollar amount; for others, the flexibility to make one’s own hours. Your definition of success may change throughout your time as an entrepreneur, but having a concrete idea of what it actually is will keep you motivated and on task.
Prioritize. It can be tempting to try completing everything that needs to be done all at once. However, this is unrealistic. Owning a business requires stamina, and without pacing yourself, burnout is bound to happen. Prioritize your tasks and reassess your list regularly.
Organize. Disorganization can literally cost your money. If you need to bring order into your office, do so immediately. If you are already sufficiently organized, establish habits that will encourage you to stay that way. Small business ownership is a sort of juggling act, one in which chaos and clutter have no place.
Personalize. The one huge advantage small businesses have over corporate giants is customer relationships. Assess the relationships you have with your customers and the service you provide them. How can they be improved? What can you offer that goes above and beyond? Word of mouth is a powerful thing, and being a poster-child for exceptional customer service will benefit your business in a multitude of ways.
Identify the bad habits. The creation of good habits must come from the replacement of bad ones. Figure out what you are perpetually doing that is ineffective for your business, and come up with a way to replace those things with good habits. For example, do you procrastinate when following up with customers? Replace this bad habit by dedicating a set window of time every day or week to exclusively contact your customers that need a follow-up. Stick with this plan consistently, and before you know it, it will be second nature for you to stay on top of customer service.
Change one thing at a time. As with anything new, it takes time to make the behavior habitual. Do not try to change your whole work life in one fell swoop. Choose one element on which to focus, and perfect that first before moving on to the next. This will facilitate consistency and long-term maintenance of those good habits.

What habits do you practice that contribute to building a successful business? Please share with us in the comments below!

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Tips to Stay Up on Your Accounting

With that nasty tax deadline creeping up on us all, it’s time to assess the way you handle accounting for your business. Whether you’re a master of bookkeeping or a filler of hastily labeled shoeboxes, there are several resources available to you and lots of different ways to make accounting a manageable task that will keep your money in your pocket where it belongs.

Create a system to make your own. Categorizing and organizing receipts, bills, and other accounting documents can be overwhelming to say the least. Some keep alphabetical files, some keep files by month and year, and others keep files by kind (mileage, supplies, travel, etc.). There is no one right answer except that you need to choose or create one that will be most efficient for your business. For example, a direct seller of jewelry whose business consists mostly of home parties would be best suited by organizing her files by kind as the bills get paid and receipts come in. This way, all she has to do come tax season is to add up what is in the files to complete the IRS tax form. Bottom line: design a system of organization tailored to your business’s needs.
Track EVERYTHING. Every expense and every penny of income must be logged in some way. Even though chances are slim that you would be audited, make sure that everything is documented in case you are. Tip: Back up your data. Many banks keep online statements for 18 months, but the IRS can audit you going back three years (up to six if a major error is found). Consider scanning any documents of which you don’t have electronic copies.
Go digital. For those who want to de-clutter and are looking to deal with less paper, there are many websites that can help you do just that. Shoeboxed, for example, allows you to scan, upload, or mail in documents. Scanning can be done from a printer or from a mobile phone. From here, they will extract the data and categorize it into your own online account. Similarly, The Neat Company allows you to transform documents into a sort of digital filing cabinet. Services like these can be especially valuable for those who do business on the go.
Be a regular. You should have a regular frequency with which you handle your accounting. Twice a month works for most small businesses, but this would be another thing to assess based on your own needs. Choose and stick to a time when you are going to sit down and pay your bills; integrate that time into your regular schedule. The more regularly you address this area of your business, the more manageable and less time-consuming it will become. As an added bonus, you can catch any errors before they accumulate and cause major damage.

Keeping track of your accounting as you go is the most efficient way to stay on top of all the paperwork. Not having any system in place will result in inaccuracies that will cost you hard earned cash. How do you stay on top of your accounting? Please share with us in the comments section!

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Direct Selling & the National Economy

Direct Selling & the National Economy

By Amy Robinson

In a recent edition of DSA’s weekly publication, InTouch, a number of executives from some of the top companies in the direct sales channel weighed in with their insights and expectations for direct selling in 2012.

It comes as little surprise that each executive expressed great excitement and optimism for what lies ahead in direct selling. Our industry offers an incredible opportunity to men and women of all ages, races and educational backgrounds. Our companies and their distributors participate in countless philanthropic efforts at home and abroad, and many of our companies have received recognition for taking the lead in eco-friendly and environmental awareness initiatives.

It’s easy to recognize how this industry positively impacts the lives of millions around the world, but in many cases that impact isn’t fully represented in the national or global economic picture.

To borrow words from AJ Deeds, President of DSA member Loving Works, LLC: “One of the most significant issues for direct selling companies is that the jobs we create aren’t counted in national employment statistics. One of the underlying barriers to direct sales is that we’re not often acknowledged as a major contributor or even seen as a real player in the economy, and that’s something that needs to change.”

I think it’s safe to say that most every man and woman who works in direct selling has probably pondered a similar thought at some point or another. With a clear focus by lawmakers on creating income opportunities (for example, the American Recovery and Reinvestment Act (2009), the Hiring Incentives to Restore Employment Act (2010), the Education Jobs Act (2010) and the Small Business Jobs Act (2010) – which created a $30 billion fund to provide capital to small banks in order to increase lending to small businesses, just to name a few) why hasn’t much attention been paid to the direct sales channel, which offers nearly 16 million people in the US alone a unique business opportunity and, for many, a much-needed source of income?

Direct selling provides countless college students with extra income to put towards education loan payments. It empowers stay-at-home parents to fulfill a lifelong dream of owning a business while balancing their family obligations. It motivates military spouses to own and operate a successful business even when military obligations require them to move frequently and often on short notice. It enables retirees to earn extra income, and many others the ability to support their families without the stresses of 9-to-5 life.

As AJ said himself: “While we have more success stories than can be counted, we are rarely considered for, much less invited to, the national leadership table. By bringing the stories of our industry forward in 2012 to a national stage, we, the direct sales channel, can represent part of the economic solution.”

It’s unfortunate that an industry that generates more than $28 billion for the U.S. economy each year through sales alone, not to mention other sources of economic impact, isn’t recognized for the potential it holds to solve at least a portion of our country’s unemployment situation. With that in mind, perhaps 2012 is the year where direct sellers everywhere can focus on spreading the word about the opportunities we offer to work toward recognition as an economic force that changes people’s lives.

Amy Robinson is the Direct Selling Association’s Chief Marketing Officer and Senior Vice President.

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How To Offer Incentives Without Cutting Your Price

Offering incentives in small business can be a bit of a challenge, but it can also benefit you in terms of customer relations, customer retention, and of course sales. However, it can be risky to base all of your incentives on price cuts, so consider some alternatives when creating them.

Tokens/Tickets/Vouchers – One cupcake shop in Columbia, South Carolina created a special incentive to attract customers on last fall’s Small Business Saturday movement. For every dozen cupcakes purchased at regular price, the customer would receive four tokens, one each good for a free cupcake. To sweeten the deal (pun intended), the owner allowed the tokens to be redeemed right then and there if the customer wanted. This was a brilliant idea, because most businesses, big and small, make customers wait until a future visit to redeem such an incentive, and often with an expiration date that creeps up sooner rather than later. Using tokens, tickets, or vouchers and rewarding your customers on the spot shows your appreciation for their patronage.
Loyalty Programs – A great deal of businesses have some form of a loyalty program in place for frequent shoppers, but take this idea to the next level by offering your customers something really special. For example, the children’s clothing giant, Carters, gives each customer a card that gets a stamp for every $20 spent. After 5 stamps, a 10% discount is applied to the next purchase. This is pretty standard, but you can use this idea to your advantage. Instead of a discount, you could offer a special shopping day where he or she would have exclusive access to new products before they’re made available to the general public.
Individualized Product or Service – Based on a customer’s purchase history, you could offer a product/service that he or she would be particularly interested in. For example, say a customer regularly buys a certain type of hair product from your cosmetics business. Because you know what this person wants and needs, you could offer a free consultation for a new hairstyle, color, or shampoo and conditioning treatment. Providing individualized service to your customers improves relationships and gives them more reasons to come back.
Free Gift With Purchase – This really works well when you can purchase items at wholesale that have a higher perceived value. Additionally, you can promote a higher-priced item by offering a free gift with it. For example, select a product or service that you want to interest your customers with; if they buy it, they could also get a free custom-printed t-shirt designed by a local artist, or a free canvas tote bag with your logo printed across the front. The benefits here are two-fold: the higher price you can charge for the item will help offset the cost of your free gift, and you are also advertising your brand by distributing your merchandise to your customers.

By thinking outside the box, there are endless possibilities to the incentives that one could offer. What are some of your ideas for non-price related incentives? Please share them in the comments section below!

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DSEF & CBBB: Help Prevent Your Facebook Account from Being Hacked in 3 Easy Steps

Today’s highlighted blog post from the Council on Better Business Bureaus (CBBB):

Help Prevent Your Facebook Account from Being Hacked in 3 Easy Steps

There are several quick steps you can take to avoid getting your Facebook account hacked. These include:

Make sure that your ‘Secure Browsing’ is enabled – That means your browser uses Https instead of the standard connection. How to change your setting: While on Facebook, look at your URL address in the browser. If you see “http:” instead of “https:” you DO NOT have a secure session. It’s easy to change. Just go to Account (upper right) click Account Settings… Then Security – click Change. Check box (secure browsing), click Save.
Regularly change your password – Get in the routine of changing your password often. Try to use a combinations of upper & lower case numbers/special characters and don’t use any parts of your first or last name.
Enable login notifications – Click on Account Settings … then Security … then enable login notifications. This will cause Facebook to notify you when your account is accessed from a computer or mobile device that you haven’t used before.

And finally, don’t click on suspicious links while browsing Facebook and never give your login info to anyone.

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. Visitwww.bbb.org/us for more information.

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Target Marketing For Small Business

With so many different marketing methods being used in business these days, it can be overwhelming to decide which is right for you. One should consider the use of target marketing, which is dividing your market into specific groups and concentrating on just one or a few important components. For example, a pet grooming business specializing in grooming show dogs could implement a direct mail campaign (snail or electronic) that reaches only particular dog owners rather than advertising in a newspaper that would reach a much larger market. The first step is to define your target market; then you can develop strategies to advertise your business directly to them.

Defining your target market, or “niche”

Decide why a person would make a purchase from you. People usually buy something for at least one of three reasons: to solve a problem, to meet a basic need, or to make themselves feel good. Sorting your target market into one of these categories will help you narrow your focus to a smaller group.
Consider the demographics of those who could use your product or service. This information includes age, gender, income, education, marital and family status, and ethnic and/or religious background. You’ll be able to invest your marketing dollars more wisely if the information you gather about your target customer is specific.
Consider the psychographics including lifestyle, social class, activities, and attitudes/beliefs. This additional information should allow you to form a picture of what the ideal prospect would be like. From there, you can figure out where they would be exposed to different types of advertising.
When creating a target market, or micro-niche, you should make sure that it is small enough that you can be a competitive force, but not so small that there isn’t enough money to be made. For example, Amazon has pretty much cornered the market on the online sale of books, DVDs, and digital media, so trying to compete with them would be futile. Similarly, construction of birdcage perches exclusively out of recycled material is too specific and would appeal to such a small number of people.

Examples of target marketing

A direct seller for a higher-end jewelry company knows that her customers are mostly women in their 30s-40s who like a well-polished look that includes a versatile wardrobe, a contemporary hairstyle, and manicured nails. Advertising to this target market can be done via fashion blogs, hair and nail salons, and local clothing boutiques.
A small business that offers in-home photography sessions knows that its target market is parents of newborns wanting professional pictures without the hassle of going to a studio. This demographic can be reached via parenting magazines and websites.
A pastry shop that specializes in custom-made freshly-baked desserts knows that its target market is mostly made up of local business owners and private party planners. Reaching this group can be done via vendor fairs and event hosting expos.

The key to target marketing is deciding who that small group is and then finding the best approach to reaching them. Don’t be afraid to ask questions of your current and past clients to get to the information you need. You will save money budgeted for marketing as well as being able to build your business based on those who have the greatest interest in your product or service. How have you defined and reached your target market? Share your ideas in the comments section below!

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Selling You

There is a significant difference between buying something and being “sold.” Your customers want to have confidence in not just the product or service, but the person representing it. For this reason, it is important to sell yourself effectively and open doors for new opportunities.

Be Yourself. As obvious as this may seem, it’s a pitfall of many people in the sales industry. Don’t try to do and say what you think the customer wants to see and hear; people are turned off by lack of sincerity. Identify your strengths and highlight them in your customer interactions. This will also make a relationship you build easier to maintain.
Make a great impression. The average consumer is bombarded by advertisements in their various forms all day long. What can you bring to the table that will impress your customers? Plan ahead what your objective is for that specific situation. This way you won’t have to rely on a generic sales pitch that may not relate to the circumstance or may not have any relevance for the person to whom you are selling.
Demonstrate good character. “Our character is what we do when we think no one is looking.” With this quotation in mind, conduct your business with integrity. If you promise something to a customer, make sure you can deliver. This also applies to the way you interact with customers; express a positive demeanor, practice good manners and common courtesies, and follow through on your end of the relationship.
Listen. Just as most people don’t want to be “sold,” they also don’t want to be talked at. Effective communication involves a great deal of give and take. You may have the perfect dialogue planned, but the conversation takes an unexpected turn. Listen to the customer’s concerns, questions, and information to be able to respond appropriately. It will be clear to the person that you are truly listening, which is will be greatly appreciated.
Dress and speak appropriately. This may vary greatly depending on your industry, but your personal appearance and conversational skills speak volumes to others about how you conduct business and the kind of person you are. Make sure that these things are positive reflections of yourself that will contribute to and benefit your business.
Educate and provide solutions. Customers may not even realize they have a need for your product or service, so demonstrate your expertise by educating them not just about your specific product, but about products like it in general. From there, you will able to highlight why your product would best suit the customers’ needs. Additionally, you should be able to accurately answer any questions the customer has about your product, your business, or you. By focusing on the customer, you are essentially selling yourself as a person who can enrich his or her life in some way.

Selling yourself is about showing who you truly are and conducting yourself with a good balance of confidence and humility. What tips do you have for “selling you”? Please share them with us below!

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Tips for Building and Leading a Team

Have you ever listened to a vocal ensemble sing a piece of music? Usually, there are several different parts being sung such as bass, tenor, alto, and soprano. Each of these parts don’t sound quite right when isolated, but put together, they contribute something that is greater than any one part. The same can be said about teamwork in direct sales and small business. No one is ever a success or failure without the help of others; so building an effective team is important to the growth of your business. Here are some things to keep in mind for both building a team and leading it well.

Building

Identify your ideal team. Decide what characteristics are important for your potential team members to possess. With this as your focus, you will be better able to find like-minded people who will be compatible with you and each other.
Find quality people. You don’t want to hire just anyone to join your business, so put in place some measure to recruit smart and talented people. For example, create an entrance interview where potential employees write down how they work best, what they consider a good reward, and how they are effectively motivated. This creates an understanding among team members and you of how to best work together toward a common goal.
Provide training. Was Babe Ruth a record-setting hitter the first time he picked up a baseball bat? Even the most talented person doesn’t walk in on the first day knowing how to do everything right. Provide some initial training when someone is hired, and continue to offer professional development and mentor opportunities throughout your team’s time with you.
Implement a recruiting system. Recruiting can be done through traditional advertisements, the use of social media, word of mouth, etc. Find a system that works best for your business, and be open to recruits about what your business goals are.

Leading

Delegate. It may be difficult to give up some control, but empowering your employees by delegating important responsibilities demonstrates your trust in their decisions and creates a positive culture of teamwork.
Have an open-door policy. Your team should not hesitate to come to you for guidance, questions, and feedback. Making yourself as accessible as possible will prevent many employees from making mistakes.
Challenge your team. Encourage them to think outside the box, even if it’s a bit more than you think they can handle. Part of being a good leader is helping people recognize and utilize their own talent.
Acknowledge their talents. Although you want to create a culture of teamwork, it is also important to give credit to individuals when warranted. Doing so will keep them motivated to continue doing good work.

Remember the famous saying, “The whole is greater than the sum of its parts.” Building and leading a great team requires careful planning and continuous learning. Surround yourself with intelligent people who are willing to work hard, and the sky’s the limit.

How have you created a better team? Share your tips in the comments below!

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Tips for Better Small Business Videos

Think about your favorite television show. What exactly do you like about it? Chances are, there is some connection made between you and a character, theme, or story; this connection is what makes you keep watching. The same holds true for online videos, which is why you should be creating them for your small business. You don’t have to be a professional videographer to shoot an effective video, but there are some tips to follow to make the most out of yours.

Keep it brief. The most effective videos are under two minutes in length. Even if there is something in your video will draw the viewer in to watch for a longer period of time, the second a person sees that time length bar at the bottom of the screen, he or she is likely to click away for the simple reason that it is too long. When scouring the internet for information, people want to find that info easily and quickly. Choose only the important points to highlight your message. Tip: Be sure to include a call to action somewhere toward the end of your video which directs the viewer to visit your store or click the link to your website, for example. This keeps your video in the viewer’s mind before he or she moves on to the next one.
Get personal. Stock footage of products or locations and frames of still photos are generic. Viewers will make the same assumption about your business. Instead, record a video that features your real staff, location, and products. Consider featuring an introductory greeting from you, the owner, and if applicable, candid footage of your staff on the job. Also, don’t be afraid to use humor; keep it professional, but you definitely want to give your video some personality.
Choose a theme. Your video should have a point. Are you introducing your business to the world? Are you featuring an innovative product? Answering frequently asked questions? Whatever you choose to do, make sure everything in the video is centered on the theme so as not to lose focus or make your viewers click away. A great way to plan your video is to write a script before shooting any actual footage. This will give you a clear plan of action and allow you to see if anything is off-topic before you even begin.
Feature tutorials and product demonstrations. Which is easier: reading about how to cut up a pineapple or watching someone actually do it? Nowadays, when people want to learn how to do something, they find a video online that physically shows them what they want to learn. Most people are visual learners and prefer this type of medium anyway. Furthermore, you are giving the potential customer a glimpse into the user experience, which is extremely important. People want to know exactly how something works before they buy. Take advantage of this by using tutorials and demos that work for your business.
Use music. In doing so, you will be able to set the mood for your video and evoke a feeling from the viewer. Also, music is a perfect way to fill in any gaps of silence between narrations and transitions. There is a plethora of open content on the web as well as music that is public domain, so copyright infringement will not be an issue.
Share your video socially. Your video does no good if it is not being shared. Posting it on YouTube is the best place to start. Make sure you choose a title for your video that will optimize your search results. Tip: Search keywords for your video in the YouTube search box to see what comes up. If it’s something you’d rather not be associated with, then you’ll be able to choose more wisely. Having effective keywords is more important than ever, especially with people’s increasing reliance on Google Instant, which shows results as you type in your query. With more and more people using smartphones to search for and view content, Google Instant has become another must-have convenience for most.
Preview your video before posting it. Check to make sure that there are no items in the background that may offend, look messy, and that you don’t want others to see. Finally, make sure your video quality is good and reflects well on your business.

By following the suggestions above, your video will already be a cut above most of what is out there right now. What other tips can you offer for creating an effective video? Please share them with us below!

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How to Build a Unique Business

What is the first thing that comes to mind when you see a red bullseye? If you’re like most people, your answer is Target. What is it about Starbucks that makes it different from other coffee establishments? Perhaps it’s the taste of the coffee itself, the blended language of their drink sizes, or maybe even the first place to bring the culture of Italian espresso bars to the U.S. These are exceptional examples of a million dollar idea, but they are also standards that we can look up to. Sometimes it seems as if everything has been done before. Even so, your business can be a unique endeavor if you can apply and incorporate your own individuality.

Focus on your personal strengths. Even if your business is very similar to others, there is only one you. Do some serious personal reflection to pinpoint what makes you different. What can you bring to the table that no one else can? For instance, you may be one of many direct sellers in your area working for the same type of company. However, use your strengths to make yourself stand out from the rest. A consultant with a background in theatre might do very well using his/her knowledge and expertise to create an entertaining and polished sales presentation unlike any that customers have seen before. Your business is a reflection of who you are, so take advantage of that, and give it your personal flair.
Choose a micro-niche. Instead of casting a wide net and trying to cater to a large market, narrow down your business and your target market. The more narrow and specific you make it, the more recognized in your field you will become. For example, a hair salon might focus on children’s hairdressing. A micro-niche would be a salon that specializes in children’s hairstyles for the pageant circuit. Now, a very specific target market can be reached, and the business can become a well-known one among those in that circle.
Make customer service a top priority. Considering experiences you have had with other small businesses, what were their strong points? Where were they lacking? Use this knowledge to perfect your own customer relations. Is there something you can offer that goes above and beyond what your competitors are doing? Think about learning your customers’ names, something personal about them, and what they could get of your business that would somehow make their lives easier or more pleasant. Modern technology has stolen much of our culture’s person-to-person interaction, so the better your customer service is, the more memorable you will be.
Use unusual interests to your advantage. Whether you are starting a brand new business or looking to make an existing one more innovative, take a close look at your own interests. Is there something unique or unusual about them? For example, a forward-thinking individual named Jason Sadler developed an idea for wearing t-shirts to advertise companies wanting viral exposure. His website has become its own community of people viewing and sharing his team’s content.

The key to building a unique business is identifying your own personal distinction. What other ways do you bring originality to your business? Share with us in the comments section below!