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Side Jobs: Your Way to a Successful Business

Although building a successful business involves knowing a great deal about a particular industry, the good news is that there are many ways in which to learn that don’t require expensive or time-consuming resources, such as a business degree. The following is a list of suggestions to help you learn about your industry and expand your network quickly with the goal of growing your business.

Volunteer your time. There are always people in need of extra help, especially the kind that comes free. Find outlets within your community to volunteer in some capacity that is related to your business. For example, if you want to start a home-based daycare business, consider volunteering your services to relatives, neighbors, and places of worship. This allows you to gain more experience in the industry, demonstrate your exceptional service, get your name locally recognized, seek referrals, and make contacts for potential customers. Think of this donation of time as a worthy investment in your business.
Become a temp. Many employment agencies specialize in placing workers in temporary positions and can even meet requests. Temp work not only allows flexibility to work with a variety of businesses, but it is also a very effective way to improve areas of weakness. For instance, if your business is lacking in customer service, consider taking a temporary customer service position. Most retail businesses have a corporate headquarters where customer service reps are trained and take calls from clients. Such a position would allow you to work on your interactions with customers and apply what you’ve learned to your own business.
Work as a consultant. If you have a specialized talent (web design, marketing, computer troubleshooting, financial projections, etc.), taking on a consulting position will help you make new contacts to bring to your business. You can start by contacting local business owners to offer your services for a reasonable hourly rate. Once they see what a great job you’ve done, they will be able to refer you to other business owners. Furthermore, you will have formed a professional relationship and expanded your business network.
Give back to your community. Local business schools and community colleges are chock full of motivated young people about to enter the workforce. Think about contributing your expertise and experience to their cause. For example, an owner of a business that provides classes in mixed martial arts can approach future graduates of local theatre and film programs. Lots of these students are about to move to a big city for the first time, so the owner decided to offer them a free self-defense class. Most of these students wouldn’t be able to afford the tuition for a normal class, but would eagerly take advantage of such an offer. Additionally, they would recommend the business to friends and family.

Taking on side jobs to build your business is a great way to stay motivated, improve areas of weakness, and build a network of potential customers and colleagues. How have you used side jobs to build your business? We’d love to hear from you in the comments section below!

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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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DSEF & CBBB: Panera offers Payment Optional Cafes

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

Panera offers Payment Optional Cafes

BY MEAGHAN POWERS

Panera along with other cafes churches and community groups across the country are opening pay-what-you-can cafes. The set-up of the Panera Cares Cafe offers suggested prices on its menu, having the customer pay that amount or as little or as much as they can, according to USA Today.

The Panera Cares Cafe in Dearborn Michigan has been running for a year and its success will keep Panera running its other Panera Cares Cafe locations and launching more in cities across the country. The cafe’s success relies on returning customers and who often come back because they realize it is helping their community. Most cafes break even with about 20% of customers giving more than the suggested price, 60% the suggested and 20% less or none, reports USA Today. To keep from abuse of the system, Panera suggests only one free meal a day, and for people to volunteer if they come many times each week.

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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DSEF & Money Wise Women: Using Social Media to Build Your Business

Today’s highlighted post from Money Wi$e Women Get Smart Teleseminar Series (Click here):

Using Social Media to Build Your Business

Do you understand social media and how to use it? Jennifer Fong will discuss the differences between social media for personal and business use, how to get started with social media, and social media tools to consider using for your business.

Jennifer Fong

Jennifer Fong is a social media speaker and consultant who teaches direct selling companies and individual direct sellers how to use social media effectively as a business building tool. A former direct sales company CEO, Jennifer built her company from the ground up, and understands what it takes to build, lead, and train a team, as well as the underlying principles of any direct selling business: network, sell, and recruit. She combines her expertise in direct sales with her passion for social media marketing to provide direct sellers with the knowledge they need to put social media to work for their businesses in a strategic and profitable way.

http://jenfongspeaks.com

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.

To find out about upcoming teleseminars, visit http://www.moneywisewomengetsmart.com/

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Tapping Your Network to Grow

We all have networks. These are groups of people that we connect with on a regular basis because of mutual interests, business, or other reasons. They’re a great source of personal satisfaction as well as potential business leads. Whether it’s a book club, religious organization, or professional networking group, networks can be a great resource for your business.

Here are some ideas for tapping this valuable resource to continue growing your business.

Give them a reason to check out your business. If these people are already in your existing network, chances are they have some degree of familiarity with your business. For this reason, you need to motivate them to rediscover you. Perhaps you have recently renovated your space, introduced a new product/service, or expanded your online presence. Use this change to re-promote your business to your network contacts and keep the relationship alive. Ask them to check out the change and offer their opinion.
Offer reciprocity. Through networking, current contacts often lead to new prospects and future contacts within your network. To take advantage of this, offer a way to return the favor when someone helps you in your business by either patronizing it themselves or advertising it to others. For example, a local restaurant owner can recommend a nearby banquet hall for parties and offer a special discount for customers using his or her restaurant for the catering. Likewise, the catering hall can refer customers to the restaurant for a free appetizer or dessert by mentioning their name at the restaurant after booking a party at the banquet hall. This helps each business gain new customers, and maintains a good relationship between both businesses.
Team up for an event. Promoting each other’s products and services can be done in many ways, including putting together a joint event that works for everyone involved. A direct seller of home décor might team up with a direct seller of cookware to create an event that offers people new ideas about how to prepare for a dinner party, covering everything from how to best use your space to what recipes can be used for each course of the meal. An event like this exposes each business owner to a new group of potential clients while providing the opportunity to show those prospects the best of each one’s business.
Make professional appearances at trade shows, chamber of commerce meetings, and industry conventions. Consider doing a speaking engagement, teaching a workshop, or holding a demonstration of your business’s products/services for other small business owners. If you run a successful business, you have much to offer fellow business owners and those just getting started. Making a name for yourself locally will spark interest in your business.

Your network is a valuable resource which should not be overlooked when taking steps to grow your business. What ideas do you have for tapping your network? Please share with us in the comments below!

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DSEF & CBBB: Pain at the Pump: Gas Climbs to $5 per Gallon

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

Pain at the Pump: Gas Climbs to $5 per Gallon

BY VERONICA BROWN – FEBRUARY 24, 2012

Get ready for gas prices to shoot through the roof. Many Americans may begin to pay $5 per gallon, reports USA Today.

The surge in prices comes from not only rising prices in oil, but also lower refining capacity, tensions in the Middle East, and also the fact that spectators are driving up the price. The price of gas this February is up 42 cents from last year, with a record high of $3.65 per gallon.

On average, gas currently costs $4.20 in California, and $3.91 in New York. These prices are expected to keep climbing. A Washington state refinery that recently suffered damage from a fire could drive up prices in the region even higher this weekend.

In reaction to increased pain at the pump, consumers have begun to cutback on their gas purchases. Consumption fell 1.4 percent through February 17th, amounting to about 18 million barrels a day. This is the lowest since April 1997.

To read the full article, visit http://www.usatoday.com/money/industries/energy/story/2012-02-22/gas-prices-average/53229358/1

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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.