Friday, September 30, 2011

How To Attract Paying Customers

How to attract paying customers: Try saying "Hello!"

I was just in Rome, Italy. Intrigued by some attractive handbags, my friends and I walked into a leather shop, looked at merchandise, and the clerk (or owner?) just kept reading his paper.  No greeting. Nothing. We walked out.

Later, seeking lunch, we looked at a menu outside a tiny restaurant on a side street. The owner came out and said, "Buongiorno!" He invited us in, and we followed him. Then, he even suggested what we should eat. He closed the sale.

Great lessons learned!

Tuesday, September 6, 2011

Four Lessons From Irene

A week ago, we began our recovery from Hurricane Irene. Since then, I've been thinking of the business and life lessons I have drawn from the experience and have decided to share them with you:

1. Think creatively, make a plan and be ready to execute it. With dire predictions of Irene coming our way, I knew if we lost power that I would not want to open my freezer or refrigerator for at least 24 hours. That way, the insulation of the appliance would keep everything safely cold and frozen. So I planned meals I could serve without the need of the fridge. I didn't buy more food that could perish. Instead, I baked banana bread for a tasty breakfast, made sun tea and left it out, had bottled juices ready, as well as shelf-stable food I could cook on the grill. The plan worked really well. By the time I finally (and very briefly) opened the fridge, the high-cost items were still partly frozen. And we used them as they began to thaw over the course of three days -- yes - three days.

To wash the dishes, I put pots of water in the sun and heated them with "solar power". Worked like a charm! And I used a Girl Scout trick of adding a little Clorox to the rinse water. (Prior to the storm, we also stocked up on cash, filled the cars with gas, took inventory of our candles, batteries, flashlights, and bought a car charger for my cell phone - a very wise choice. After the storm, we used as little hot water as possible - reserving it for very short showers.

2. If you can help, give it. If people offer help, take it. When our neighbor's tree fell into our yard and partly blocked our driveway, he came over with a chainsaw and worked with my husband to remove enough branches so that we could get our car out.

We actually didn't lose power during the storm, but when our other neighbor did, we took in her food. However, the following evening, the electric company's tree workers were removing a tree from downed wires and knocked out our power in the process. As we cooked up our defrosting food another 24 hours later, I offered some to still other neighbors who couldn't cook. One gratefully took it. Since he had a generator, he gave me ice, which I used to preserve some of my food. Still another neighbor who had power took in my food which by then was in real need of refrigeration. I gave him some tomatoes from my garden.

These were good deeds and trades that came naturally. It showed me how kind people can be.

3. Take advantage of local resources. We discovered that our local public library has a huge generator and offered to stay open until 10:30 pm just to accommodate people. It became the center of our town. It seemed like the entire population of Darien descended on the library to use its computers, electricity and wifi. The library even serves coffee and snacks from a small coffee bar. What a God-send! Always remember the library is one of your greatest resources.

Before the storm, the town kept the dump open and supplied piles of sand and bags to enable residents to make sandbags. After the storm, they stayed open late to allow people to dump brush. And the high school became a shelter for families who had to evacuate their homes. Sometimes a government can do good things.

4. Keep a positive attitude. As we saw the pictures of devastation from all over the northeast, people in our neighborhood kept saying how lucky we all were. We came out of our houses and checked on each other. We allowed the storm to bring us together.

Count your blessings. Help others. Be creative.

Monday, August 15, 2011

Do You Have What It Takes To Be an Entrepreneur?

Laid off? Can't find employment? Have you always dreamed of the independence of having your own business? Do you feel that this is your chance to finally realize your dream? You are not alone. This past recession, like the one 15 years ago, has driven huge numbers of people to start their own enterprises. The Kaufman Institute says that in 2010 over 565,000 Americans a month began a business.

If you're thinking you have what it takes to be an entrepreneur, you should take the time to read not only this blog, but also the lead article in the August 14, 2011 Sunday Styles section of the The New York Times: "Maybe It's Time For Plan C." The article illustrates how very hard the transition can be from a corporate office job to running everything yourself. In fact, starting a business ("Plan B") has become so hard for some people that they are moving to "Plan C" -- going back to work for someone else.

From 1994 to 1998, I worked as a mentor and teacher to people who wanted to start businesses. Out of hundreds of people my colleague and I counseled and taught, only a fraction decided to actually start a business. We found in many instances that the people we met with or taught were shocked to learn all that they had to do to have success as a business owner. The ex-bankers who were used to the support system of an office just couldn't get used to the idea that they would have absolutely no support and that they would have to invest some start-up capital before they could even earn a dime. Others were genuinely surprised at how really hard it was to get a loan from a bank or equity investments from professional investors.

The people who did start businesses, and the successful entrepreneurs I worked with as a consultant and business planner between 1999 and today were the ones willing to do as much as they could themselves. They used their personal savings, buyout bonuses, credit cards, home equity (when people had home equity), loans and investments from friends and family to get their seed capital. They did the homework of researching the need in the marketplace, finding the lowest cost space, best raw materials, best people to join their team, and the best outside resources to do the things they couldn't do themselves.

They made big picture, as well as detailed plans. They had the goal, the strategy and the tactics thought out. They had a business model that made sense. And they executed their plans. The smartest ones also had good lawyers to help them with the legal ins and outs.

They knew that starting and running a business is more than a full-time job. It truly is all consuming. So if you're thinking of starting a business -- or sticking with the one you have -- you have to ask yourself if you are willing to do what it takes to be successful. Do you believe enough in your goal and yourself?

If you do, then go for it! (But seek help when you need it. The help is out there from free sources and paid professionals.)