The SMARTSTART Coach's Blog

The Widget Trial

2010-09-01T12:18:00.001-04:00

via l.wbx.me

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How an Online Business Goes Straight to Hell

2010-08-17T21:30:00.001-04:00

Believe every sales letter you read.
Build your web site before you build your business.
Create products for *everyone*.
Make your branding all about you.
Focus on quantity [not quality, value or service].
Practice indifference [or lie] to customers.
Become expert at grovelling for gurus.
Take the money and run.
Ignore basic principles of accounting and tax planning.

Nuff said?

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SMARTSTART - Newsletter (August 2010)

2010-08-13T14:20:00.001-04:00

SMARTSTART by Power One Press

SMARTSTART INSIDER
A newsletter for SMART business owners

August 1 2010

Dear friends, fans and followers,

It’s August, already! Can you believe it?

For many businesses, things really slow down in the summer. If this is the story of your sales and cash flow, don’t despair.You are not alone.

There are many ways you can take advantage of the slower pace though because summer can be the perfect time for:

creating new products and services to sell in the Fall months

developing new strategic relationships and marketing opportunities

looking at ways to reduce your costs

learning something new

re-organizing and decluttering your office, paper files and computer drives

taking a vacation to re-energize your creativity by doing nothing leaving plenty of time for pondering new business ideas

Sincerely,

Linda M. Lopeke
The SMARTSTART Coach

SMART*STAR: Cathy Perkins

Kudos to Cathy Perkins, The WordPress Wizard, for successfully running a Productivity Boost Camp last month. She’ll now have a new product to sell that has been monetized on both the front- and back-end of the camp program. [You can see what her Camp sales page looked like here.]As a result of Cathy’s decision to run the camp, we now have a new Participant Guide and Resource Guide for our productivity training program.

This year’s campers were amazed to learn how just a few simple tweaks taking into account your unique biology and chemistry can have such a positive impact on your productivity! [But then our SMARTSTARTERs already know all about that!]

We all had a lot of fun (well except perhaps for that moment when the phone service went out and I was unable to dial into the bridgeline two minutes before going live into the final session of camp). Proving there are some things you just can’t control! It was the perfect time to practice “going with the flow!”

Regardless, we did recover and all the session recordings are done. Now we’re thinking of possibly running another Boost Camp this Fall.

SMART*STEP: Crunching Your Numbers

Can you believe it? The year is already more than half over. If you haven’t done so yet, August is a great time to see where you’re at with your 2010 revenue goals.Here are some questions you can ask yourself during your review to see if you need to make any changes to direction for the latter part of the fiscal year.

Is your pricing still appropriate for what the market can bear for your product or service?[When was the last time you tested your pricing points?]

Is your customer demand for what you sell higher or lower than your capacity to provide it?[If demand is higher, you might be putting your reputation at risk or leaving money on the table.]

Is your cost of product/service delivery higher or lower than expected?[If higher, you need to close the gap to protect your profit margin.]

Is your sales target being met?[If not, you may need to revisit your assumptions and/or ramp up your marketing efforts by trying new channels or building additional strategic alliances.]

Is your profit target being met?[If not, you may want to look for opportunities to reduce expenses and/or increase sales volume.]

VOL 1 | ISSUE 2

In This Issue

SMART*STAR of the month: Cathy Perkins runs a successful Productivity Boost Camp and creates a new product to sell from it

SMART*STEP of the month: Crunching Your Numbers

Quick Links

Take the Tour Ask a Question See Rave Reviews

Save the Date & Participate!

Aug 4
Group Coaching Call

Aug 10
Licensing Program Announcement

Aug 19
Executive Club Call

Aug 31
New Healthy Business Workbook Release

Blog| Twitter| LinkedIn| Book

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SMARTSTART Revenue Starts Here

2010-08-10T20:21:00.001-04:00

Each year SMARTSTART Philanthropy brings out a new program to help small business owners advance their goals. Back in 2007 we made a commitment to do this to the tune of $50M and, I'm proud to say, we've completed about $10M to date toward this goal.

The 2010 program is called SMARTSTART Revenue. You can get the details and application form here.

Through it, we are making one our best products, the SMARTSTART Guide to Pricing available for you to sell for $39.95 or use to build your list so you can grow your business.

And, by this we mean if you sell it you keep all the money from sales and if you use it as a bonus or lead generator for your own programs you owe us nothing toward its cost of development.

We give you the downloadable content files, the cover art, the companion teleseminar recording, and a 30-second promercial to help you market it.

Here's what it looks like:

All you have to do is step up and say "yes, I can do that". And we'll be there to help.

The question is "will you"?

We're accepting applications until August 20, 2010. Send in yours today. You could be raising money for your business while endearing yourself to your customers and clients as early as next week.

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Sneak Preview of New Look for SMARTSTART Guides

2010-08-05T21:45:00.001-04:00

All of our SMARTSTART Guides have a brand new look courtesty of Dave Soucy. Here’s a sneak preview of the cover of the SMARTSTART Guide to Pricing. [Don't have your copy yet? Get one here.]

Here are 55 things you’ll know about pricing after reading it:

what’s keeping you from getting paid what you are worth
5 “low rate” lies you’re telling yourself that are costing you money (big money)
how much you are losing every day, week, month and year by charging the wrong rate
6 mistakes almost everybody makes when trying to determine what to charge clients for products, programs, and professional services
4 stages in the pricing process and how they affect your hourly or project rate
5 frequently forgotten factors critical to successful pricing
3 ways physical factors change your pricing

8 ways emotional factors change your pricing
3 things you must consider before adjusting your price
2 reliable tests that tell you if the price is right
hidden traps that result in setting the wrong price
3 types of clients that require charging a higher price
9 other ways you cheat yourself by setting too low a price
10 warning signs that tell you you’re charging too little
how you overestimate how much you were paid at your last job
how you underestimate how much it cost you to have that job
how to calculate your true hourly rate from past employment
the most important pricing formula every business owner must know
how your work/life balance affects your pricing
how to calculate your baseline rate (and when and how to use it)
how to calculate your standard hourly rate (and when and how to use it)
39 things your hourly rate has to cover (hence the need to get it right!)
where to find out exactly what other people are charging for similar products and services
how to determine the billable to non-billable ratio to use for your business
how to stop penalizing yourself for having skills and experience
what to do about all those extras clients want
how to handle toxic and problem clients
when to use hourly vs. flat-rate pricing
why sliding scales don’t work
how to calculate how much your business must bring in
how to use an automated hourly rate calculator
how to apply the “rule of thirds” formula
how to use the “per diem” pricing model
how to use a “performance-based” pricing model
other pricing models you can consider
the difference between competitive, standard markup, and cost-oriented pricing
common mistakes people make on markups
how a product business is different from a service business for pricing
3 formulas for calculating your markup and when to use them
how to figure your direct and indirect costs
how to set a profit margin and build it into your hourly rate
how market affects your hourly rate
other factors that affect your hourly rate
9 questions you must ask before setting your hourly rate
finding your “just right” price
how clients try to pressure you into lowering your rate
5 ways to compete in a crowded market
whether or not to publish your rates
how to state your rates once you’ve set them (3 approaches that work)
how to handle tricky client negotiations so you have the most power when talking rates
exactly what to say when you’re faced with a low-balling client
3 scams to watch out for that prospective clients sometimes try
how to know when you have to fire the client
using your baseline rate as a guideline to outsourcing
and much, much more!

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The Surprising Truth About What Drives Us

2010-07-30T12:27:00.001-04:00

It didn’t surprise me — we’ve been treating people on our teams as outlined in this concept for as long as I’ve had my company (almost 30 years!). But it has recently moved to the forefront as the latest “new” thing.

And I do love Dan Pink’s work so I wanted to share it with you.

Don’t be too late to the party, ok?

Posted via email from Linda Lopeke's posterous

Are you in the top 8% of the wealthy?

2010-07-28T10:46:00.001-04:00

Are You in the Top 8% of the Wealthy?

Edit

By smartstartcoach Leave a Comment

Categories: Fun Stuff
Tags: smartstart business success, smartstart coach, infographics

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Is Social Media Just Hype?

2010-07-21T00:12:00.001-04:00

Need to educate top executives as to how important social media is when promoting and placing a new product into the marketplace?

Phil Guest made a great video to help you address that. In it, he brings the facts and stats to life via typographic treatments, iconography, and animations — without alienating the viewer. The music is bespoke and was scored specifically for the film by Phil and Rebel Sonix.

Watch. Learn. Enjoy.

Social Media from Phil Guest on Vimeo.

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It takes all kinds, I guess

2010-07-16T09:20:00.001-04:00

Hilarious! Someone is pretending to be me in The Influence Project. This is me. http://fcinf.com/v/ap7l Whatever is s/he thinking?

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Marijuana or Multi-Tasking? Which Is Better For Productivity?

2010-07-15T23:58:00.001-04:00

What do multi-tasking and smoking marijuana have in common when it comes to your productivity? And which is better for you?

Find the answer to that question and more by listening to The PRODUCTIVITY Masterclass — our kickoff for the 2010 Productivity Boost Camp.

Tonight we were joined by folks all around the world who have come to camp to learn how to work less and accomplish more. Our methods for improving productivity can triple your productivity while doubling your time off. You’ve got nothing to lose but your unfinished “to dos”!

To hear our kickass content in the breakout sessions though you’ll have to buy a seat in camp.

(Letting you listen to the masterclass is our “pink spoon” sample. It’ll give you a taste of just how much you stand to learn before you commit to the whole scoop. But we’re so jazzed about helping people pump up their productivity that we’re giving you permission to share the link to The PRODUCTIVITY Masterclass with your audience at no charge because, truthfully, working differently has the power to change your life, not just your results. Have a listen and you’ll soon understand why that’s not an overstatement.)

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How Sex Hormones Affect Productivity [and Other Little Known Secrets of Peak Performers]

2010-07-13T20:47:00.001-04:00

Most people struggle with productivity because they don’t understand it at its core.

Productivity is not about tools or time management (because there is no such thing). It’s about effectively managing your biology, chemistry, physiology, and psychology as these critical factors are what impact energy, action, workflow and stress levels that you experience as productivity (or lack thereof).

There are actually 6 biological functions you must regulate to even be able to work productively and 8 core physical traits you must develop before you can hope to improve how much you can get done in a day.

There are NO tools or applications on earth you can buy at any price to improve your productivity in any meaningful way if you haven’t addressed these first.

When was the last time you took a productivity course that explained the role sex hormones play in your workday?

When it comes to procrastination, are you an arousal type, an avoider type or a decisional type as you move through your day? [Knowing that answer is key to unlocking your daily challenges with this potent productivity killer.]

Are you limiting yourself by working primarily with just one of your three brains? Or are you simply not using the most effective one of the three on a consistent basis to get things done and instead are letting your biology interfere with your day-to-day progress.

And how are you drawing the line between productive rest and laziness (or are you)?

It so happens one of our licensed resellers in North Carolina is running a SMARTSTART Productivity Boost Camp this week [Thursday, July 15 & Friday, July 16]. I’ll be there explaining how sex hormones impact your productivity (or it’s near total absence, if that’s your story). Register here to reserve your spot in camp if you’re interested in learning more.

There’s a good chance you’ve never had productivity training even remotely like this. But now you’re only one click away from joining us.

Here’s just a partial list of 125 things about productivity that you’ll know for sure by the end of camp:

8 things productivity is NOT about (even though you think it is)
how to assess value, contribution and impact (so you’ll know the right things for YOU to be working on right now; they’re not the same for everyone so the list you create in camp is what’s uniquely right for you, not your fellow Boost Camper)
how to avoid becoming an unaffordable liability (even if you’re close to this now, we can show you how to turn it around before disaster strikes)
the #1 requirement for productivity (most people don’t have it and are feeling the pain right now, each and every day)
5 secrets that hold the key to your success at becoming more productive
3 things you should tackle first
3 things you absolutely must control
3 biggest energy drains
top 5 areas productive people have mastered that you probably aren’t even looking at yet (these are the real keys to taking back your work and your life)
6 basic chemical functions of the body that impact productivity
8 traits that are essential components of peak performance and success
12 ways you hurt your brain without even trying
3 steps for beating procrastination
12 internal consequences of procrastination
12 external (potential) consequences of procrastination
3-step process for dealing with action information efficiently
5 key questions to ask during your appointment with yourself
10 energy boosting options you can consider for increasing your productivity
7 sink holes that require a workable strategy for managing
8 guidelines for preventing productivity decline
10 ways you can minimize technology-related stress and productivity killers

Like I said, it’s unlikely you’ve had productivity training like this before. Hope you’ll be able to join us!

Posted via email from Linda Lopeke's posterous

SMARTSTART to soon show a new face to the world

2010-07-08T23:51:00.001-04:00

As well as developing our new look and feel, we’re working on some new copy for introducing our SMARTSTART Business Success programs to the uninitiated. Let us know what you think!

Feeling out of control or lacking direction in your business or your life? Or both?

To be successful, we need to be able to make things happen. But what if you just don’t know which path to follow, or what to do first?

Making the right choices when there are so many options and business opportunities out there can be downright scary, if not overwhelming! But making the right choices and putting them in motion effectively are the key elements of success in business and in life.

An endless stream of books, seminars, training and coaching programs are out there. More arrive every day. Yet still you’re missing a basic understanding of how to put a solid foundation in place and go about making it all work. That’s where we come in.

SMARTSTART is a program for getting anything and everything on track with respect to you and your business. We focus on what’s practical, efficient, and effective. We teach you best practice, not flavour-of-the-month.

We show you how and where to save money and where to focus your time and energy for the best return on your investment. (You know your business can only succeed if you know what business you are in and practice the behaviours that eliminate distraction and support beneficial focus, right?)

You cannot think your way to success.

You cannot attract your way to success.

Success is the result of preparation meeting opportunity. (Sometimes it comes disguised as obstacles.) It’s a matter of being able to get things done, no matter what.

Perspective. Action. Control. Knowledge. That’s our promise, not our premise.

Every decision you make in your business (and in your life) is a risk. There are no magic formulas that can eliminate that risk. But there are things you can do to minimize it by being able to make informed and intelligent decisions with confidence.

Nothing is perfect. (Including our program, although we work hard at keeping our commitment to continuous improvement!) Nor does it need to be.

Perfection is not the goal; excellence will be tolerated.

In SMARTSTART, our members start from where they are. You can too. Because we show you how to identify what’s true for you. (It’s going to be different for everybody — there is no one-size-fits-all.)

We strengthen your preparation and show you how to recognize opportunity.

SMARTSTART is less about systems and more about a systematic approach. One that’s flexible and adaptable to your unique situation, wherever you may be in terms of starting your business.

Whatever your ideas for creating products and services, we can teach you how to take them from concept to media-worthy success story.

Twelve months from now you can be another year older and a little bit (or a lot) poorer or you can solidly rooted and well on your way to building a great business with a sustainable income.

It’s your choice.

(We’d like to be part of it. That’s why we’ll be coming out with 5 options for membership at price points to suit every budget!)

Posted via email from Linda Lopeke's posterous

The [it's not about] Influence Project

2010-07-08T14:23:00.002-04:00

On July 6, Fast Company magazine launched The Influence Project.

Here’s how they explain it:

We started with a simple question: Who are the most influential people online right now?
That’s what The Influence Project is designed to answer. By participating, you will have your picture appear in the November issue of Fast Company magazine as part of an amazing photo spread. The more influence you demonstrate, the bigger your picture will be.
You may discover that you’re more influential than you think.
Influence is not only about having the most friends or followers. Real influence is about being able to affect the behavior of those you interact with, to get others in your social network to act on a suggestion or recommendation. When you post a link or recommend a site, how many people actually bother to check it out? And what’s the likelihood of those people then forwarding it on? How far does your influence spread?
This is the type of influence we’re looking for. We want to find the most influential person online.
Who knows? It might even be you.

Here’s the thing. This project has at least a dozen critical business lessons in it for you. Some are likely to be showstoppers. But if you’ve been blindsided by it being about *influence*, you are missing the point. And you're confusing the verb with the noun.

This experiment is not showing you how social media works in the sense you are expecting. What it is showing you are the four drivers of all human engagement.

You must look beyond the obvious to see them, but they are there. Look again.

See them now?

A _ c _ p t _ n c _
B _ l _ n g _ _ g
V a _ _ d _ t _ _ n
L _ v _

The better you understand these four, the more successful your business will be. Because your influence will transcend measure.

(By the way, that’s not all Fast Company magazine is making available to you through the project. You might have missed that too. To take advantage of all the business intelligence there, you do need to visit and participate in The Influence Project.)

Posted via email from Linda Lopeke's posterous

The Latest from Gaping Void

2010-07-07T09:58:00.001-04:00

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Are you part of The Influence Project yet?

2010-07-06T13:03:00.001-04:00

Fast Company magazine is running a very cool social experiment called The Influence Project. It costs nothing for you to participate and you'll be very surprised to learn just how much influence you really have (and may not have known about).

You can get the details here and, if you decide to participate, you'll see just how many people you touch through your everyday actions. Think of the project as another way of putting yourself on the social map.

Posted via email from Linda Lopeke's posterous

SMARTSTART - Newsletter (July 2010)

2010-07-01T22:40:00.001-04:00

SMARTSTART by Power One Press

SMART STEPS

A newsletter for SMART business owners

July 1 2010

Dear friends, fans and followers!

Every now and then you have to shake things up and try something different. It doesn't matter if not all of your ideas hit a home run. What matters is you're striving to keep it fresh.

There are an unlimited number of ways to improve your approach and stretch yourself with new ways of thinking about topics you've become very familiar with. Inspiration is everywhere!

In fact, YOU provide a lot of the inspiration for changes we're going to be testing over the next six months.

We'd love to have you try out the new events and activities being introduced to the SMARTSTART Business Success Program this summer. There's always something exciting going on here. Some of it will work well; some of it won't. That's ok. Points for trying, right?

Sincerely,

Linda M. Lopeke
The SMARTSTART Coach

SMART*STAR: Wayne Kelly

When you're ready for radio or working on a podcast series, Wayne's the coach and producer you want to work with if you can get into his calendar!

Those of you who have already worked with this brilliant fellow SMARTSTART member know what I'm talking about.

Everyone around you may be hyping video to attract your audience but Wayne knows for a fact audio gets you 5x the exposure for your business! His newest product offer, producing first rate podcasts with and for you, builds on that critical knowledge.

You can find out more about how Wayne can help you find your compelling voice get all the details on his latest offer here.

SMART*STEP: Get Your Game On

There are many things every business owner needs to do to move a business forward. But many of you are not sure where or how to start because you've never had to do anything similar before. We'd like to help you with that by offering a new monthly workshop called Get Your Game On.

We'll provide you with real life exercises, examples, and templates to help you learn. You'll have a chance to experiment and ask questions. When the session is done, you'll be that much closer to taking full control over the future of your business.

The first task we'll tackle? Creating a Functional Roles and Responsibilities Map for your business. Yes, even if you're just a 1-person operation, you absolutely should have this map to guide decision-making! Find out why at the workshop.

That's why your first SMART*STEP is participating in this new series where we'll show you exactly how to Get Your Game On. Save the date (see sidebar) and join us! Your special invitation to attend the workshop will arrive closer to the date of the event.

Meanwhile, you might want to go shopping and pick up a few things to have ready to go:

Get the most beautiful binder, portfolio or storage case you can find in a colour and design you love.(You'll use it to store your completed templates and worksheets as you build your business over the course of the year.)
You'll also need a set of coloured pencils, and
some post-it notes of various sizes.

Yes, this is absolutely a hands-on WORKshop and we want you to be prepared to create!

VOL 1 | ISSUE 1

In This Issue

SMART*STAR of the month: Wayne Kelly launches new podcasting training and production service

SMART*STEP of the month: Participating in a Get Your Game On Workshop

Quick Links

Take the Tour Ask a Question See Rave Reviews

Save the Date & Participate!

July 7
Group Coaching Call

July 15 & 16
Productivity Boost Camp

July 22
Executive Club Call

July 28
Get Your Game On

Blog| Twitter| LinkedIn| Book

SMARTSTART | Power One Press • A12-1250 Eglinton Ave. West, Suite 145• Mississauga, ON L5V 1N3 www.smartstartcoach.com

Posted via email from Linda Lopeke's posterous

SMARTSTART - Newsletter (July 2010)

2010-07-01T22:33:00.001-04:00

SMART STEPS

A newsletter for SMART business owners

July 1 2010

Dear friends, fans and followers!

Every now and then you have to shake things up and try something different. It doesn’t matter if not all of your ideas hit a home run. What matters is you’re striving to keep it fresh.

There are an unlimited number of ways to improve your approach and stretch yourself with new ways of thinking about topics you’ve become very familiar with. Inspiration is everywhere!

In fact, YOU provide a lot of the inspiration for changes we’re going to be testing over the next six months.

We’d love to have you try out the new events and activities being introduced to the SMARTSTART Business Success Program this summer. There’s always something exciting going on here. Some of it will work well; some of it won’t. That’s ok. Points for trying, right?

Sincerely,

Linda M. Lopeke
The SMARTSTART Coach

SMART*STAR: Wayne Kelly

When you’re ready for radio or working on a podcast series, Wayne’s the coach and producer you want to work with if you can get into his calendar!

Those of you who have already worked with this brilliant fellow SMARTSTART member know what I’m talking about.

Everyone around you may be hyping video to attract your audience but Wayne knows for a fact audio gets you 5x the exposure for your business!

His newest product offer, producing first rate podcasts with and for you, builds on that critical knowledge.

You can find out more about how Wayne can help you find your compelling voice get all the details on his latest offer here.

SMART*STEP: Get Your Game On

There are many things every business owner needs to do to move a business forward. But many of you are not sure where or how to start because you’ve never had to do anything similar before.

We’d like to help you with that by offering a new monthly workshop called Get Your Game On.

We’ll provide you with real life exercises, examples, and templates to help you learn. You’ll have a chance to experiment and ask questions. When the session is done, you’ll be that much closer to taking full control over the future of your business.

The first task we’ll tackle? Creating a Functional Roles and Responsibilities Map for your business. Yes, even if you’re just a 1-person operation, you absolutely should have this map to guide decision-making! Find out why at the workshop. That’s why your first SMART*STEP is participating in this new series where we’ll show you exactly how to Get Your Game On.

Save the date (see sidebar) and join us! Your special invitation to attend the workshop will arrive closer to the date of the event.

Meanwhile, you might want to go shopping and pick up a few things to have ready to go:

Get the most beautiful binder, portfolio or storage case you can find in a colour and design you love.(You’ll use it to store your completed templates and worksheets as you build your business over the course of the year.)
You’ll also need a set of coloured pencils, and
some post-it notes of various sizes.

Yes, this is absolutely a hands-on WORKshop and we want you to be prepared to create!

VOL 1 | ISSUE 1

In This Issue

SMART*STAR of the month: Wayne Kelly launches new podcasting training and production service

SMART*STEP of the month: Participating in a Get Your Game On Workshop

Quick Links

Take the Tour Ask a Question See Rave Reviews

Save the Date & Participate!

July 7
Group Coaching Call

July 15 & 16
Productivity Boost Camp

July 22
Executive Club Call

July 28
Get Your Game On

Blog| Twitter| LinkedIn| Book

SMARTSTART | Power One Press • A12-1250 Eglinton Ave. West, Suite 145• Mississauga, ON L5V 1N3 www.smartstartcoach.com

Posted via email from Linda Lopeke's posterous

The Crayola Monologues

2010-06-29T22:14:00.001-04:00

Frankly, when I first discovered this little gem I thought it was simply so well done, with so many business (and other) lessons in it for you, I couldn't wait to share it.

And you thought crayons were just for making pretty pictures! Nathan Gibbs will set you straight.

Crayola Monologues (2003) uses the crayon as a human metaphor for exploring color and identity in the United States. This animated video features crayons expressing how color hierarchies have shaped their lives. These crayons live in a world much like our own, complete with prejudice, class boundaries, social hierarchies and those who fall between the lines. Crayola Monologues also reveals the politics behind Crayola label changes, and gives a voice to the previously unheard perspective of crayons.

Click here for an education in sharing company history while simultaneously commenting on societal norms with incredible creativity. Enjoy!

Posted via email from Linda Lopeke's posterous

SMARTSTART Your Business Brain (part 4)

2010-06-25T02:06:00.001-04:00

Just two more cognitive biases to take a look at, then we’ll move on to a new topic.

BIAS #13: Cryptomnesia

When memory is mistaken for imagination you may find yourself guilty of cryptomnesia — also known as inadvertent plagiarism. In such a case, you recall producing an idea or thought when, in reality, you did not. Instead you are recalling an idea or thought you were exposed to elsewhere.

False memory doesn’t just apply to thoughts and ideas. It can also affect your identity and relationships. You might claim cryptomnesia but most will see you not as ill or suffering from cognitive bias but rather as a person lacking professional ethics. (You remember my telling you that I found this list of biases that started me thinking about this posted by Nikki at Listverse, right?)

BIAS #14: Bias Blind Spot

Not surprisingly, one of the most common cognitive biases is that which we apply to ourselves. Most people believe they are less biased than others, which may or may not be true. Because of our own blind spot, we can hardly be objective about such an evaluation.

As Nikki points out “Amazingly, there is actually a bias to explain this bias. The Better-Than-Average Bias is the tendency for people to inaccurately rate themselves as better than the average person on socially desirable skills or positive traits. Coincidentally, they also rate themselves as lower than average on undesirable traits.”

With respect to our businesses, this blind spot can be crippling. If we are feeling less than secure in our professional abilities, we may believe we are less competent than others in our industry. That fuels our fear, which drives our actions, which ultimately lead to the results that may cause us to conclude that is the truth about our abilities. Before you know it, you’re caught in the middle of a self-fulfilling prophecy.

How do we fight back? By understanding the nature of cognitive bias and making a daily effort toward more conscious thinking.

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SMARTSTART Your Business Brain (part 4)

2010-06-25T00:04:00.001-04:00

Just two more cognitive biases to take a look at, then we’ll move on to a new topic.

BIAS #13: Cryptomnesia

BIAS #14: Bias Blind Spot

How do we fight back? By understanding the nature of cognitive bias and making a daily effort toward more conscious thinking.

Posted via email from Linda Lopeke's posterous

SMARTSTART Your Business Brain (part 3)

2010-06-23T08:31:00.001-04:00

The content adapted for this series was found at Listverse where it was posted by Nikki — an obviously intelligent thinker. Picking up from where we left off then:

BIAS #7: Escalation of Commitment

This is the bias responsible for our continuing to hold onto what by all accounts is an unsuccessful business, business deal or project. When we should cut our losses, we don’t. Instead, this bias compels us to invest even more time, energy and money into the commitment hoping it will be just what is needed to turn a losing proposition around. It isn’t. So don’t.

BIAS #8: Placebo Effect

The essence of the placebo effect is when we expect something to work well or have a favourable outcome, we believe and report that it has even when it doesn’t. Most commonly, this experience is found in medicine but it also applies to business. By the way, Nikki says the term “placebo” is used when the outcomes are considered favorable; when the outcomes are negative or harmful, the term is “nocebo”. (I did not know that until now.)

BIAS #9: Confirmation Bias

This bias has us making decisions based on false information. The confirmation bias is our tendency to look for information that confirms what we already believe, to the exclusion of all other available information. In other words, we only look at the part of the story that tells us we’re on target. You can see how dangerous this can be to the future of your business, right? When you fail to consider all the relevant facts, the logic that should support your decision-making is automatically faulty.

BIAS #10: Illusion of Control

When you believe you can control or at least influence outcomes you clearly have no influence over, you are caught in the illusion of control. Gamblers and risk takers are much better off understanding the laws of probability whether your playground is the casino or your office. Nikki also shared this interesting fact: when playing craps, people will throw the dice hard when they need a high number and soft when they need a low number. In reality, the strength of the throw will not guarantee a certain outcome, but the gambler believes they can control the number they roll.

(And, when the number they hoped for comes up, it’s even more difficult for them to accept the nature of the throw had nothing to do with the outcome.)

BIAS #11: Planning Fallacy

Virtually everyone suffers from this bias which is the tendency to underestimate the time needed to complete tasks. The planning fallacy actually stems from another error, The Optimism Bias, which is the tendency for individuals to be overly positive about the outcome of planned actions. People are more susceptible to the planning fallacy when the task is something they have never done before. The reason for this is because we estimate based on past experiences. That’s why keeping a detailed time log of the work you’re doing on and in your business is always a good investment.

Hofstadter’s Law: It always takes longer than you expect, is absolutely true so doubling your estimate for tasks you’ve done before is not all that unreasonable. And when you have no past history to draw on, triple or quadruple it.

(You may think I’m being pessimistic but there is a phenomenon called “realistic pessimism” where depressed or overly pessimistic people more accurately predict task completion estimates.)

BIAS #12: Self-Serving Bias

A self-serving bias occurs when you attribute positive outcomes to internal factors and negative outcomes to external factors. A good example of this is revenue — when your business is running in the black, you’ll attribute it to being really smart or creative. When sales are non-existent, and you’re running in the red, you’ll attribute it to a bad economy or a slow market. People commonly take credit easily for successes but refuse to accept responsibility for failures.

Interesting Fact: when considering the outcomes of others, we attribute causes exactly the opposite as we do to ourselves. When we learn that our competitor’s sales are in the stratosphere, we attribute it to an external cause such as luck or the association with a big name guru. And if their sales are tanking we tell ourselves the competitor is inherently stupid or lazy. This is known as the fundamental attribution error.

In reality, it is our own actions that dictate our outcomes. Hence the importance of training yourself to be personally accountable and accept responsibility. Yes, I know it isn’t always pleasant or easy. But it is necessary. Are you with me so far?

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SMARTSTART Your Business Brain (part 2)

2010-06-17T22:12:00.001-04:00

In the previous post we started exploring common and not-so-common cognitive biases that affect our business thinking and decision-making. And I just spent two hours writing up a few more for you only to have them disappear down the WordPress rabbit hole despite have pressed “save draft“. So lets give it another go before calling it a day, ok? (I’ll have to make it quick because I’m running the SMARTSTART Executive Club call for June in 30 minutes!)

BIAS #2: Self-Fulfilling Prophecy

When we don’t believe we can be successful, we stop putting in the effort required to build our business. It takes more than discipline to develop and market your ideas day after day. And when you stop creating and stop marketing (or stop marketing as much as you should) guess what happens? Your business stagnates. That’s an example of a self-fulfilling prophecy in action. Your behaviour (lack of taking action daily to move your business forward) creates the results that confirm your belief.

BIAS #3: The Halo Effect

You hate what you see in the mirror and it kind of spills over into your day and your business. But you’re disciplined and determined so you get on with it. Then you meet a really good looking person at a conference you’re both attending. You don’t know a thing about his or her abilities or circumstances.

But, because you hate the way you look and are blinded by the attractiveness of this stranger, you automatically believe they’re so much smarter than you, their business is booming and their life is perfect. That’s the halo effect in action. (Nasty one, isn’t it?)

BIAS #4: Herd Mentality

In simple terms, herd mentality is a form of peer pressure. How else can you explain why some fads go viral? Few want to be seen as “uncool” or “out of the loop”. Herd mentality is why so many lame business courses rack up millions in sales. (But it’s not the only reason… the other is marketing. Great marketing always overcomes poor product. Don’t learn that lesson the hard way.)

BIAS #5: Reactance

This is the bias you’ll see played on in salesletters quite frequently. Tell people they can’t have something and they’ll want it all the more. Not because the product is good or because they need it. But rather because the fact they can’t have it makes them crazy for it. It’s rebellious teenage thinking perhaps but it sure moves a lot of mediocre merchandise.

BIAS #6: Hyperbolic Discounting

Another bias commonly made use of in salesletters is hyperbolic discounting — the tendency for people to prefer a smaller, immediate payoff over a larger, delayed payoff.

Even when the reward is demonstrably greater, as can be seen with savings vehicles that generate compound interest, it’s very hard for people to give up spending today instead of saving for tomorrow. We’re conditioned from birth for that hit of instant gratification.

In other words, we don’t live in a new society; we live in a now society. And, on that note, I’ll have to dive off. More biases to come next Tuesday.

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SMARTSTART Your Business Brain (part 1)

2010-06-15T23:04:00.001-04:00

The human mind is a beautiful thing. It's also one of the biggest obstacles keeping you from achieving business success. For this reason, learning to improve your critical thinking (or cognition as it's known in expert circles) is a key component in all SMARTSTART programs.

The very act of thinking is what allows us to find and process enormous quantities of information quickly. The internet has literally exploded the amount of information available to us just for asking.

You can tell yourself you're hitting the web to look up one thing. But before you know it, with each link clicked, your brain has taken you down any number of related (or even unrelated) paths. And, as you wander all over the information highway, your brain is simultaneously processing thousands of subconscious ideas -- whether you want it to or not.

Your daily challenge then is to train yourself to recognize the many cognitive biases we all experience so you can make appropriate adjustments in your critical thinking and decision making. Otherwise, you risk making predictable future errors, any of which can potentially devastate your business and you.

We're all prone to making judgement errors; it's part of being human. You'll probably make more than one today alone. So in this series we'll explore common (and not-so-common) cognitive biases and how they impact your business.

BIAS #1: Gambler’s Fallacy

This bias is one that keeps casinos rich and gamblers coming back. Probabilities are probabilities. The odds of winning do not change.

Certain probabilities are always the same. For example, the Super Bowl always starts with the coin toss. Whatever the team chooses, heads or tails, the probability of winning the toss is 50%. If you think the probabilities have changed because for the last 5 years the coin toss came up heads, you would be wrong.

Future probabilities are not altered by past events. But thinking they are is what causes gamblers to lose money and casino owners to love the business they're in.

You see, while the odds are different for each game you play, the probability of winning is constant. Take roulette, for example. It does not matter what the wheel landed on while you were watching it for 10 minutes before placing your bet. What matters is there are 18 reds and 38 blacks, so the probability of landing on red is 47.37% for each and every spin.

Are you gambling with your business success?

Let's take a look at the probabilities you're facing right now. Your probability of building a web site that makes you money is 1% and your probability of creating a successful business overall is 3%.

I'm sure you're working very hard; most people are. Perhaps you've even spent a lot of money you didn't have to chase your entrepreneurial dream. Thousands do. But you haven't changed the probabilities of success.

There are things you can do to overcome the odds. I'll bet you're not doing most of them. Ask yourself the questions below, then count your yes/no answers if you dare.

2. Do you have a written marketing plan that you update each quarter?

3. Do you know exactly how many people need to buy from you this week to meet your business plan goals?

4. Do you know exactly how many people you need to reach this week based on your marketing plan?

5. Do you know exactly how many people you need to connect with this week to expand your reach?

6. Do you know how much of every planned marketing activity you must do to get the reach you need this week?

7. Do you know how much of every planned marketing activity you must do to get the results you need this week?

8. Do you know what kind of response rate you should target for every marketing activity?

9. Do you know who your ideal customers are? And can you describe them clearly and solve their most pressing problem?

10. Do you know the measurable results you deliver to your market and have you defined them for every marketing activity?

11. Do you help every prospect define your value in dollars and cents every time you reach out and touch them?

12. Do you know what the daily, weekly and cost of doing nothing will be to your prospect if s/he decides to delay or pass over your offer?

13. When you reach out to your market or meet with potential customers, do you talk about them instead of talking about you or your product or service?

14. When you speak at an event or do a teleseminar, do you get more than 25% of the audience asking for the next step?

15. When reading compelling salesletters for offers you can't afford, do you tell yourself this is the one thing that instantly will make all the difference to your probability of success?

16. When you finish reading this post are you going to take action to improve your chances of overcoming the odds?

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A Design Contender for Our New Logo

2010-06-12T14:09:00.001-04:00

We're working with some talented designers to come up with a new logo for SMARTSTARTCoach.com. Here's what the talented crew a idesignyourlogo.com came up with.

Company:	SmartStartCoach.com
Background:	Linda Lopeke
	Ah, education. It's what we want none of as children and can't get enough of as adults. I guess you can't appreciate something until you realize that it can make or break you as an adult. Don't we love seminars, continued education, ra ra speeches, etc.? It just gets you all fired up for whatever it is your setting out to accomplish. When education ends up earning you moola moola, it seems like everyone is on board. Come hop on board to see the new logo for SmartStart (a way to make moola moola)
Online:	http://www.smartstartcoach.com

Here's the story they crafted around our project to communicate it on their blog:

Do you know what the only difference is between Evan Williams (co-founder of Twitter) and you? Ok, that’s really not a fair question to ask. There are a ton of differences. I guess that he probably looks different than you, talks different and unless you’re his roommate, he probably lives somewhere different than you.

Alright, let’s rephrase that question.

Do you know the only reason why Evan Williams has a billion dollar company and you don’t? He didn’t let anything get in his way of starting it.

There you have it. That’s one of the keys to success, and it was absolutely free. You can pay me in hugs in kisses later, after you’re extremely successful.

If you didn’t know already, Tony and I have another business called Idea Heroes. It’s an advertising and idea generation consultancy. But really, what we do is come up with ideas for other people/companies to run with. And, that’s the key. Running with it.

There is some ridiculous percentage of people that have great ideas and never do anything with them. And sometimes, that’s all it takes. Just do something with your great idea. Don’t sit on it any longer. You’ll never know if Google was going to buy your business for $3 billion dollars if you never take the first step. Jump. Dive. Hit go. Whatever you need to do, do it.

So, why do people sit on their ideas? I’m not an expert on this subject, but my best guess is fear. Fear of failure, fear of success, fear of the unknown, etc.

So, if you’re one of those people who is just sitting on that great idea. I have a recommendation for you. Linda Lopeke and SmartStartCoach.com.

SMARTSTART helps to show small business owners, online entrepreneurs and information marketers just like you how to take their business ideas from concept to delivery, market themselves online and create a sustainable success story.

The great part is, they’ve packaged it all up so that you don’t have to pony up $10,000 for a personal coach. Linda (the foremost expert) has put all of her knowledge into an educational package that you can tap into for a fraction of the cost.

No more fear. Just like those old “redneck” t-shirts of the 80’s used to say. “No Fear”. There are no longer going to be any excuses for why you don’t get off your butt and start that darn business. Besides, why be afraid of being successful? That’s the one thing that you should be looking forward to the most.

Obviously, it’s without saying, Tony and I are big fans of taking an idea and making it happen. Any way that I person can get from point A to point B, we endorse.

Here’s what you need to know. Linda Lopeke is your answer, her site is here. Now go.

SmartStartCoach.com10.0102

Then they had folks vote on the design which they've been sharing on Twitter:

Rating: 10.0/10 (2 votes cast) -- The first two people to see it obviously liked it. Then I accidently clicked on the stars and gave it a 3 which naturally brought the rating down. Sorry guys, that's not how I felt about your design... I was just in the wrong place at the wrong time on the darn keyboard! You can add your vote here and I'm definitely interested in knowing what you think of the design concept.

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A Short History on Hacking

2010-06-10T21:52:00.001-04:00

I've read about so many hack attacks in recent weeks that sharing this terrific infographic, recently discovered on Online MBA, seemed more than timely. Enjoy. Via: Online MBA Now start thinking about what safeguards you've put in place to protect your business from hackers. What? You don't have a Business Continuity Plan you say? We [SMARTSTART] can help you with that.

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Is Your Business Running Naked?

2010-06-08T22:04:00.001-04:00

If you are operating it without some kind of business plan, or without having given any thought to building your brand, then I would say it is. Naked. Stark naked. And that’s not good for either of you.

Because a successful business runs by the numbers. The basic business numbers are your sales and expense forecasts, your startup costs, and your startup funding. You need to keep tabs on those and scale your projects and plans accordingly.

And if your dream is to build a business that lasts, you must build a brand. In fact, the smaller you are, the more important brand is to you.

We’re not saying every business has to have the full formal treatment running dozens of pages long. Just that every business has to have a plan. Even if it’s just a plan that you have worked out in your own head. You can put a comprehensive business plan together using a one-page template. We teach a 5-part course that shows you exactly how to do that. It’s not hard, but it does require critical thinking and constructive decision making.

Nor are we saying you can’t market yourself and generate revenue without a brand. People do it every day. But to compete effectively, you’ll need to distinguish yourself from the crowd.

Your brand is what you or your product stand for. Expressed in emotional shorthand. It’s the promise, the big idea, and the expectations that reside inside the head of each customer’s mind. Your brand isn’t what you say it is; it’s what they say it is.

If you don’t have something guiding your actions and investment of time and money and something that tells your prospective customers what you stand for, then make no mistake, you’re out there doing the full monty. Don’t expect too many to get excited enough to chase a long-term relationship with you.

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The SMARTSTART Guide to Pricing

2010-06-03T23:17:00.001-04:00

It’s the one thing every business owner struggles with… what to charge for your products, programs and professional services.

Well… wonder no more. Our HEALTHY BUSINESS Workbook, The SMARTSTART Guide to Pricing takes the mystery out of pricing for you. And now, when you buy our eBook, we’ll give you the audio recording of the SMARTSTART Pricing Clinic as a bonus too!

Sample it below, or head right to the web site where we show you 55 things you’ll learn about pricing from reading our guide.

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Working Your Business Above The Line

2010-06-01T19:19:00.001-04:00

There will be many times in your business life when things won’t go quite as expected. There’s a natural tendency in such a situation is to point the finger of blame anywhere but at ourselves. At others, at circumstances, at God (or a lack thereof).

You must train yourself to rigourously fight that tendency. Giving into it creates a number of problems guaranteed to hold your business back.

Quite simply, this is because:

(1) You don’t fool anybody. (And if you think you do you’ll quickly be exposed as a fool.)

(2) You miss what might just be one your greatest learning opportunities. (The fastest progress is found in making mistakes.)

(3) You transfer your power over the situation to the person (or circumstances) you blame for it. (Claim back your power by taking full responsibility.)

The optimal place to view your business experiences is always from the point of personal responsibility — from above the line.

When you look at things from that perspective you are rewarded with optimal control, direction and command over your business.

Let your free will guide your choices, decisions and actions. As you grow from practicing this habit so will your wisdom, and from that, your business.

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The Gift of the Creative Beast

2010-05-28T21:51:00.001-04:00

Ah... the creative beast. We all have one. Are you in touch with yours? Betsy Streeter wants to know. And so do I. Please enjoy Betsy's slideshow to discover/reconnect with the gift.

The Gift of the Creative Beast

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SMARTSTART Your Business Therapy (part 5)

2010-05-25T23:13:00.001-04:00

We all go through stages in our entrepreneurial adventures where it seems everyone else has the answers and we are still in the dark ready to ransom our kingdom for a match. The truth is no one has all the answers and many don’t know what questions to ask!

When you’re struggling to find your voice or even just your confidence, it’s easy to see others as being so much more advanced than you are but, truthfully, we’re all students, all the time. Some of us are attending the school of hard knocks, others have earned scholarships at the school of the starry-eyed but ill-informed and many of us are self-taught and home-schooled.

There are so many sources of information out there. Who do you turn to? How do you know if they are the right people to help you? How do you make the best use of what they know that you don’t?

When I faced this dilemma for the first time, I planned an imaginary meeting with the people I most respected in my industry. I thought deeply about what to ask and why I wanted to know more about that. I pictured them giving me their best advice which I weighed carefully and implemented. I sat in their chairs and pretended I thought just like they did, knew what they knew, felt what they felt.

But then I took that fantasy a step further. I looked them up. I wrote and called asking for an hour of their time. I told them why I wanted to meet with them and didn’t pretend to be more than who I was — simply a person who was interested in learning from the best.

Guess what happened? They took my calls. They met with me. They gave me their best advice and (bonus) a good talking to and/or a swift kick in the ass when I needed it. Not one of them tried to talk me out of my big ideas.

Better yet. I listened to them. Where it made sense, I changed my behaviour or my approach without compromising myself. Things seemed instantly better in so many ways. I learned and progressed much faster than if I’d tried to go it alone.

You probably have people you look up to too. What if you had an hour to spend with them? What would you ask? How would you want them to help you? More importantly, why haven’t you contacted them yet? (And if you have, tell us what happened!)

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SMARTSTART Your Business Therapy (part 4)

2010-05-21T12:40:00.001-04:00

We all have things about our work that we enjoy doing and do very well. Then there are those tasks we just can’t stand or simply suck at. It isn’t unusual, when first starting out, to have to do everything ourselves. Typically, that leads to much procrastination. And too much procrastination can lead to disaster.

If you were to take an honest look at how you’re spending your day right now, I’m willing to bet you’ll find a great many examples of procrastination disguised as “busy work”. When what you need to focus on to move your needles forward is “productive work”.

In our eBook, The SMARTSTART Guide to Pricing, we discuss the importance of understanding how much busy work is really costing you. Your goal, as a business owner, is to offload all tasks you can hire out for cheaper than your baseline standard hourly rate as soon as possible. (If you don’t know how to calculate your rates, you might want to read our book! The cost of lost sales, of customer unhappiness and of doing nothing adds up fast.)

Everyone has a to-do list a mile long; you are not the exception. Equally important is you not-to-do list. And not everything on your to-do list needs to be done, and certainly not everything needs to be done to perfection. Indeed, perfection is not the goal; excellence will be tolerated. Examining the level at which you are performing all tasks can often open your eyes to ways in which you are impacting revenue simply by the way you work.

Don’t have a not-to-do list yet? Start building one right now. Post it where you can see it. Always know when something is worth doing and worth doing well. That’s one of your most important responsibilities. You owe it to yourself and your clients. ‘Nuff said?

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SMARTSTART Your Business Therapy (part 3)

2010-05-19T21:24:00.001-04:00

We recently conducted an exercise where we asked the question

“If we gave you $100,000 today, how would you spend it to maximize profits?”

I didn’t come up with the intriguing question on my own — that credit goes to A Smart Bear known as Jason Cohen. The answers, both mine and those submitted by others, were extremely interesting! It’s a question well worth considering to be sure.

Haven’t you ever played the “what if” game when fantasizing about winning the lottery? Your odds to win are certainly much better in building your own business. Perhaps you should start thinking of your business as the lottery you control. You can play with any prize amount (why limit yourself to $100K?) and you should expect some damn good business ideas to come from the exercise.

From there all you need to do is expand your thinking to come up with a few ways of actually getting the money; then spend it as planned. What could be cooler?’ Or more fun?

Jason had another great question as well that is also worth considering very seriously. It was

“If you were forced to hire someone today, how would you define his/her job such that s/he would cover the expense?”

As a former Fortune 500 executive, I remember asking myself that very question back in the day and more than once. It always led to the exact strategy needed to move my department forward. It works for independent business owners too. Try it, you’ll see what I mean, I’m sure. At the very least it’ll open your eyes to tasks and priorities that may require some adjustment.

Besides, sooner or later your business will expand to include others. Wouldn’t it be nice to know how to make the best use of these resources? You could start with offloading tasks you hate and those you shouldn’t be doing in the first place. Or, you can delegate or outsource tasks that, if they weren’t done as perfectly by someone else, wouldn’t negatively impact your business.

So, when was the last time you fantasized changing the operation of your business? (Hint: There’s no time like the present.)

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SMARTSTART Your Business Therapy (part 2)

2010-05-13T20:46:00.001-04:00

To continue on from the previous post, knowing what you’re selling, who buys it and why isn’t enough. It’s a great start. But it’s not enough.

We must probe your business more deeply. For example, there may be many things preventing sales in your business but there is only one number one. You must correctly identify what that is. Let me be blunt. You’re probably fooling yourself as to what the showstopper is. So we’ll look at the list of possibilities to isolate that one thing. Then, we’ll work out a plan to remedy it.

I’ll ask you how many ways you are currently collecting feedback from your customers, potential customers and lost sales. This is very important to your future. Customers buy what they want, not what you think they need. Let them tell you what that is and you’ll save yourself a whole lot of wasted time, energy and money. (Remember, you’re dealing with all three currencies with every business decision you make.)

FYI: You’ll be rated on a score of 10 but there are actually 12 ways to get feedback. You should be doing as many of them as possible. The extra two are automatic bonus points for you. Most take less than a day to implement.

(By the way, SMARTSTART members learn all 12 methods which is why they are most likely moving the needle for their businesses farther than you. They don’t guess. They know.)

That pretty much covers examining what can be done to be bringing more money into your business and leads us to the true killer question, “What is the date your business dies if you never make another penny at it?”

The point of being in business is to stay in business. Nothing crystallizes your thinking faster than knowing when it’ll be game over if you don’t make it work. Post that date where you can see it on a daily basis and you’ve got yourself an effective tool for beating procrastination and maintaining focused attention on revenue-generating activities.

By now you may be thinking I’m not very sympathetic to your entrepreneurial spirit. Nothing could be further from the truth. But, as mentioned in an earlier post, a coach’s job is to save you from yourself while optimizing your potential for success. How ’bout we call it tough love? And I’ll call this the end of today’s post. More therapy to come next Tuesday. (Come on… you know you want it.)

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Take a Visual Tour of the SMARTSTART Business Program

2010-05-12T20:49:00.001-04:00

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30 Seconds to a Business in Bloom

2010-05-12T01:16:00.001-04:00

via animoto.com

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30 Seconds to a Business in Bloom

2010-05-12T00:57:00.001-04:00

Create your own video slideshow at animoto.com.

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SMARTSTART Your Business Therapy (part 1)

2010-05-11T20:44:00.001-04:00

Sometimes I’m a business coach. I say “sometimes” because it’s not the only way I spend my time for money. In the thousands of hours I’ve occupied that role, I’ve noticed a thing or two I feel compelled to bring to your attention.

First, a good coach does not tell you what to do. That’s not really what you’re paying for. And, if that were to be the only thing your coach did for you, you would have wasted your money. Your business won’t make any great shifts and neither will you.

When you hire me, the SMARTSTART Coach, to work with you, you receive business ideas you don’t already have and likely wouldn’t come up with on your own. I’ll share perspectives you cannot see and help you create opportunities to produce results you otherwise would not produce. But I’m not going to tell you what to do.

Instead, I’m going to ask you the hard questions that take you to your own truth. The truth about who you are, what you’re capable of, and what you really want. (Chances are your truth is going to be very different from mine anyway and I want to keep our relationship honest.)

Then I’m going to do my best to keep you from getting in your own way while (lovingly) insisting you face your reality and either defend or redefine the critical decisions that will make or break your business.

Rambling aimlessly won’t be tolerated. You’ll learn how to ruthlessly hone your thinking. When I’m done with you, you’ll be able to describe what your product does and who buys it in one sentence. In a second sentence you’ll be able to state exactly why someone buys your product. And you’ll have hard evidence to prove it.

Expect it to take more than one session to work this out. It’s hard, hard work. But, if you don’t have solid answers to these questions, nothing you do will move your business forward. Nothing. Your marketing will be one big disconnect. That’s what’s holding most entrepreneurs back right now. Not a tough economy. Not a lack of capital. Not a lack of time. Simply, not knowing.

Most entrepreneurs are reactive which keeps them bogged down by details; the successful ones are proactive and are always looking at the big picture. Start drafting your big picture now. Next post, we’ll dive even deeper. I promise.

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How to SMARTSTART Your Pricing

2010-05-07T12:57:00.001-04:00

Today we ran the final timing rehearsal for the SMARTSTART Pricing Clinic to work out any kinks before heading into the studio to produce the official recording. (So hold your ears for the first 30 seconds because we learned we need to adjust the sound levels on the intro/extro.)

Since many find pricing a challenge, we thought we'd invite you *backstage* to hear the pre-production rehearsal so you can learn more about this very important subject. (When it's finished and released to market, this course and companion workbook will cost $395.)

SMARTSTART Clinics are educational sessions only (i.e., no selling occurs during the event). So, if you would like to learn more about pricing, here are the topics we covered:

1) the critical parts of the pricing process
2) where pricing fits in your marketing mix
3) why you need to stop telling yourself low-rate lies
4) why pricing too low is a real problem for your business
5) 10 things you must do before setting your price
6) what to avoid when pricing information products, coaching programs and professional services

Click here to listen to the training for free. Click here to purchase the eBook The SMARTSTART Guide to Pricing ($19.95) referenced in the clinic.

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SMARTSTART Your Entrepreneurial Balance Sheet

2010-05-06T23:29:00.002-04:00

The story of your business is told on the balance sheet — an equally useful tool for monitoring the state of your entrepreneurial soul for which you are also accountable. Reporting the assets, liabilities, and equity held at a given point in time (or at different time intervals) can help you better understand the means available to you for creating future profits, life satisfaction and happiness.
Most entrepreneurs move quickly, often without thinking of the cost and consequences of their decisions and actions to themselves and others. This is the fast track to “anorexia of the soul“, a fate worse than any financial failure that might result from this behaviour.
The balance sheet is where you see the effect of your past decisions. It’s a snapshot for monitoring the health of your business and its impact on your life.
Financial literacy is rare in new small business owners and online entrepreneurs — very few come to SMARTSTART understanding the mechanics of the balance sheet. (Accounting is not the favourite subject of entrepreneurs.) We ease them into it by introducing a few simple exercises to bring the conceptual ideas home. You can try them out for your business and life situation too.
We start by showing them how to use common balance sheet principles to document their entrepreneurial journey. This exercise is particularly helpful when feeling disconnected from yourself or from your business — a situation that occurs when you are:

overly focused on presenting yourself as a brand,
trying to create a public persona, and
polishing an image of yourself that’s more surface than substance.

Such behaviour is toxic for you and your business. It gets in the way of the real job of an entrepreneur, which is figuring out who you are, what you stand for, and what value you offer. Defining the business is your most important entrepreneurial work. Be very specific about how it serves your wants and needs as its owner. The point is to be the master of your business, not a perpetual slave to it.
It’s important to your future success that you start disciplining yourself to think about all aspects of your business in terms of assets and liabilities. This will guide your future decision making more effectively.

Try creating your first entrepreneurial balance sheet right now. Take a fresh sheet of paper (or open your favourite journal to a blank page) and draw a line down the centre. On the left side, you’ll record your assets; on the right, your liabilities for each of the following categories:

self (skills/knowledge you have are assets; skills/knowledge you need but lack are liabilities)
market (opportunities are assets; obstacles are liabilities)
attributes (attributes that serve your vision and authentic self are assets; attributes that don’t are liabilities)
relationships (be honest here — some alliances, advisors. team and family members are assets; many are liabilities)
time (productive activities are assets; non-productive habits and distractions are liabilities).

Study your balance sheets religiously — the real picture of your path to success is reflected in the equity. (Equity is what’s left when you subtract liabilities from your assets.)
Being solely focused on striving to please the market and presenting the brand you think will sell only leads to a growing sense of disconnection from the self. In most cases, your public persona is not who you really are. Pretending to be someone you’re not and selling what you don’t believe in or in a way that isn’t congruent with your true self is a road to ruin.
The anorexic entrepreneur, obsessed with achieving success, pursues it with the passion of a spiritual quest, believing it is a lifestyle choice. Unable to recognize when success has arrived, it remains forever elusive often resulting in financial and emotional bankruptcy. Don’t let that be the story told on your balance sheet.

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SMARTSTART Your Business Literacy

2010-05-05T23:16:00.001-04:00

As a coach, I often see smart, creative and well-educated people ignore the essential requirements for building a successful business. Generally, it's because they've allowed themselves to be convinced an online business is different. And of course, it isn't. A web site is not a business.

Online entrepreneurs are a special breed. They transcend any traditional image you may have of a small business owner. Their brains operate differently.

They harness passion and work tirelessly to spin it into something resembling life's golden ticket.

They have an indescribable power to garner the enthusiasm of people wanting to experience their shared vision. They'll pay almost any price to get there faster. Even if that price is failure.

And failure is the price almost all web-based business owners experience. Only 1% of the web sites they build will ever make any money. Because they chased too many bright, shiny objects and pursued the wrong things, in the wrong way, at the wrong time.

What online business owners need is a place where they can learn how to build a strong business foundation and marketing machine that drives their entrepreneurial vision and subsequent products and services into the marketplace. That's what we offer.

By design, SMARTSTART peels away years of ineffective thinking and behaviour. It helps online entrepreneurs build their dreams on a solid foundation with appropriate interior scaffolding. Our students learn to focus on contemporary business issues, not just the flavour-of-the-month that is internet marketing today.

They learn how to communicate, operate, and apply business intelligence to everything they do.

They learn how to let go of bad habits and scale new heights of personal and professional effectiveness.

They learn where to find practical and low-cost resources to help them and how to use reliable tools to measure success patterns.

They learn how to produce results and choose purposeful actions that build self reliance.

Most importantly, they learn to build a business first before building a web site. (And yes, we teach them how to build a web site that works too.)

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SMARTSTART Your Business Intelligence

2010-05-05T13:04:00.001-04:00

In essence, SMARTSTART is the distillation of my business and entrepreneurial experiences, observations, insights and conclusions acquired through my work as a professional management consultant over the last 30 years. To date, I've spent some 60,000+ gloriously happy hours studying and working with clients of all sizes and descriptions and coaching people on the fundamentals of business success.

I've had the privilege of working with established business leaders, new and seasoned entrepreneurs, creative folks (writers, artists, designers, innovators), scientists and engineers, olympians and armchair athletes, key influencers and radical thinkers, and even the men, women and children next door.

People from 12 to 65 with big dreams and and a wide variety of business ideas come to SMARTSTART to learn how to bring them to life. And, more often than not, they also want to know how to best go about turning them into sustainable income and media-worthy success stories.

Every one of them teaches me a few lessons along the way too. Because we are all students really. Learning is a lifetime process.

The quest for knowledge binds us on a spiritual level. We don't work to live; we live to work. But we don't want to waste time and money chasing non-productive paths so there is a compelling need to put some intelligence into our effort. The poet, Rumi, has this to say about that:

There are two kinds of intelligence: one acquired, as a child in school memorizes facts and concepts from books and from what the teacher says, collecting information from the traditional sciences as well as from the new sciences.

With such intelligence you rise in the world.

You get ranked ahead or behind others in regard to your competence in retaining information. You stroll with this intelligence in and out of fields of knowledge, getting always more marks on your preserving tablets.

There is another kind of tablet, one already completed and preserved inside you. A spring overflowing its springbox. A freshness in the center of the chest. This other intelligence does not turn yellow or stagnate. It's fluid, and it doesn't move from outside to inside through the conduits of plumbing-learning.

This second knowing is a fountainhead from within you moving out.

The reason SMARTSTART isn't for everyone is we take you far beyond book learning and show you how to tap into your soul, how to make work your spiritual practice, how to move from being a person who is a slave to work to one who is a master of his or her own destiny. Not everyone is prepared to handle the responsibility that comes with that. But, if you think you are, we can help you find your path and share your voice.

Come along for the ride?

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