Posts filed under ‘small business tips’
Sweet Launch
SweetFlour Bake shop, is the first customized made-to-order cookie bakery to open in Toronto and I had the honour to be a part of the pre-opening launch party this past Saturday.
My cookie of choice:
– Regular dough
– M & M’s
– Toffee bits
Although cliched to order just that, the selection was almost overwhelming. They had nuts, fruits, chocolate, seeds, etc…over 20 decadent mix-ins to chose from. It was all so YUMMY I had to Tweet about it.
What I loved: The turquoise Tiffany-esk take away boxes, the choice of ingredients, the owner, the branding, and the potential for a franchise. As you can see, we all left a little bit happier.
Network to Get Work
Business networking is a form of marketing as you, the owner, are the face and overall representative of your business. Wherever you go and whatever you do is a pat of your business image. For this reason it is important that you develop proper networking skills to help you maintain a positive image and to get more work.
Networking can be understood as a four-act process.
Act 1. You must be able to approach someone and engage them in conversation. Whether this is done online or in person creating dialogue is easy. Just don’t go at it without a plan. Have an idea of what you want to get out of the conversation. Is it to learn more about what that person does, how they can help you, or how you can help them?
Act 2. This is referred to as the net-chat step. Net-chat is the technique of collecting and giving information, finding out as much as you can about the other person in the shortest amount of time.
Act 3. This is where you disengage from the conversation. This step is ultimately important as you need to leave a positive impression. What is your closing line? What is your hook? What is your call to action?
Act 4. Follow-up. Too few entrepreneurs actually follow up within the 24 hour timeframe. The longer you go without following up increases your chance of your new contact(s) forgetting who you are and what you talked about. Send a quick email or a phone call and say how you enjoyed the conversation, what you liked most about their interests, and to keep in touch.
Many times the new people you meet wont be of any direct business importance to you. Don’t disregard that fact that they are potentially a great referral service. They may suggest your business products or services to someone else.
Remember:
– Be Focused
– Be a listener
– Be sincere
– Be mobile
– Be a joiner
– Be sensitive to cultural and physical differences
You can also see this post and other small business related posts at blog.bizlaunch.ca
The Face behind your brand
When I say Elmo, you think… Sesame Street.
When I say Miss Piggy, you think … The Muppets.
When I say Steve Jobs, you think …Apple.
…I was in Starbucks this morning getting my coffee and I received an email from a friend who was announcing his resignation from his current job. There was a level of secrecy as he hadn’t made the announcement public. It made me wonder why I was one of the few selected to receive this special announcement. I checked to see who else was cc’d and was rather honoured and surprised at who else was also getting it. Then I realized that these were high-caliber, young, professionals who owned or represented a brand. He was reaching out to us for a very specific reason. It got me thinking…although some of these individuals don’t own the company they are working for, they are the face of the brand. They are the front line go to person. I wondered if these companies made the right choice in choosing such people. Although they are outgoing, intelligent, personable people, I wouldn’t say that some were the right people for the job. Perhaps I am wrong.
If you are a small business owner hiring for a brand rep., PR, community manager, community type position, make sure you select wisely as these people or this individual will be your mascot, the person and face that people will think of when communicating with or about your business. Make sure their personalities match that of your organization and that they will consistently and professionally represent your brand to its fullest potential.
Small Business Bookkeeping: Be meticulous
If you ever entered my father’s office you would notice his meticulous way of organizing everything. Every folder is properly labelled, every note has a date, and even his work out agenda is categorized. He knows when something has been moved or used. You would think he is anal retentive. And perhaps so, but he knows where everything is and rarely loses a single piece of paper. This obsession to minor detail keeps him on track, organized, and on time, just like a small business owner’s paperwork should be.
A recent article written by Roger Pierce, co-founder of BizLaunch, explains the importance of keeping great books. He says that every small business needs to do this in order to know how the business is doing, what is going wrong, and where to focus attention. It can be easy. Keep all receipts, including invoices, bank statements, and deposit slips. Find a reliable bookkeeper who understands your business. Hire an accountant to help you with your taxes. And update your filing system to include proper labels for every folder. Do all this from the beginning to avoid wasting time collecting and filing papers.
Think like my father and organize your business’s financial records meticulously. It will help you keep tabs on your company.
Sidebar: My father vacuums his shop floor. His friends feel compelled to remove their shoes when dropping in to say hi. But he never loses a hammer or nail.
Small Business Report Card
A business report card is a document compiled by the business managers or experts to assess the company performance of strategic activities. Completing a report will allow a business to measure their progress over time and continuously improve their results and their business. The managers will also learn how to compare their company to high-growth companies, what to start and stop doing, what activities the business needs to continue doing, and any specific actions required to attain the strategic goals.
Balanced measures of firm performance are based on:
1. Financial perspectives – How the company looks to investors
• Cash flow
• Sales growth
• Market share
• ROE
2. Customer perspective – How the company looks to customers
• Time
• Quality
• Cost
• Performance
3. Internal and Operational perspective
• Business processes
• Market leadership competencies
4. Innovation and learning perspective
• Ability to innovate
• Launch new products
• Value for customers
• Penetration of new and emerging markets
Completing a report card is not necessary, but will help you understand your company’s growth potential. You can hire professionals to get this service done, FreshBooks, or you can do it yourself. Depending on your budget and time constraints, it still pays to outsource this function. Remember, the report card is completed to help assist managers and advisor’s in the decision process and is not necessarily a pure indication of the company’s position in the market place.
Renée Warren's Blog 