Chicklet Survey Wrap-Up

October's Chicklet question was whether you are a mompreneur. Seventy-two percent of you said "Absolutely!" "Are you kidding" was the response of 18% and 9% said "Not yet."

Well, I have a little secret here...whether you have a business or not, you can still be considered a mom-entrepreneur in the Bubble Gum's eyes. The reason? Family mechanics mirror business operations. Think about it - you have accounting, marketing, sales, human resources and "employee" relations, operations, public relations, administration, janitorial...you get the picture.

So, whatever "business" you are running, Bubble Gum on my Business Plan is here for you with tips to apply to your business, family and life. So, please be sure to check back often for lots of chewy morsels you can use to blow air into whatever projects you have going!

In chaos and creativity,
JWS

Is it worth it?

In tonight's MOB Gold Club call, MOBster Juliet Marshall of Southern Living at Home, Pop Art Universe and Indie Rock CDs, posed a question...

Is it worth it to offer incentives to your customers (i.e. $50 in free product for booking a party, 2-for-1, etc)? How do really know if the ROI is worth it?

Instead of answering, I'm going to throw this one out there to our Bubble Gum Business Babes out there. What do you think? Are incentives worth it? If so, what's the best way to offer incentives? How do you determine your ROI with incentives?

JWS

PS. To listen to the entire MOB Gold Club call, download the MP3 at Inspired Imaginations. Go to Resources and then Downloads.

What's in it for me?

First of all, black and white email is like black and white TV! The professional look of the Constant Contact campaigns will not only help you project a polished image, but they will get your information READ!

Of course it isn't all JUST about sending an HTML campaign. Plenty of people do that and don't get much business off of it. The same holds true for those who plaster the town with business cards and flyers vs. those who hand out the flier or card and actually TALK about their business. Your campaigns need to be in your "voice." They need to be sent only to those who have given you permission to email them. You can easily get email addresses and permission by having an "add me to your mailing list" sign up at your business or an opt in box on your website.

The hardest part for many people to get is that you can NOT be emailing them weekly with what you have to sell them. Your clients might be interested in your mailing list, but soon will either unsubscribe or spam you if you are not keeping in mind that they ONLY care about what is in it for THEM. Thinking that of course they are interested in your weekly sale is a mistake. It does 2 things, it cheapens your product and teaches them to wait for the sale.

So, what DO you put in this campaign?

• Information that is pertinant to YOUR clients: articles that pertain to their interests, health, life, cool websites...keep this brief as you only have 3 seconds to catch their attention.....no one likes to open an email and see a zillion WORDS!
  


• 70% should pertain to their interests and only 25-30% about YOUR interests....like your monthly special or an incentive for doing business with you.
  

The main purpose of these campaigns is keeping top of mind awareness, allowing them to have YOU at their fingertips at any given time. They will think of YOU when a friend mentions needing your service, they will think of you when it is time to get a gift for the holidays. The point is, consumers are fickle,they will jump ship if you don't keep your information in front of their face.

It is more than worth the money spent to keep the customers you already have!

The Lucky Sevens of Meeting with Prospective Buyers

Recently, a new MOBster (mom-owned-business) asked me, "Do you have any tips for when I meet with the boutique owner regarding my product?" Yes, I do.

1. In the beginning, be open and flexible with your minimum order amount. In fact, you may even want to consider having no minimum order amount in the beginning. Once you establish a relationship with your new buyer, you can enforce the minimum order amount (i.e. Let your buyer know that you will waive the minimum on the first order - or even first two order - but subsequent orders will need to meet the minimum order amount.)
2. Be open to consignment. In some cases, you can sell more items via consignment than through traditional supply/demand relationships.
3. Avoid thinking that your product is the be all-end all (even, or rather, especially, if it is).
4. Be open to buyer/customer suggestions and feedback on your product. And, be sure to be positive when you receive those suggestions and feedback!
5. Be prepared with all your samples, but avoid overwhelming your buyer by spreading out all over their counters. Rather, present a line cards with design samples and wholesale prices along with one or two completed products.
6. Have steady energy (not too many highs and lows); and be sure to slow down when you are talking.
7. Be yourself. Period.

In chaos and creativity,
JWS

The Lucky Sevens of Budgeting

I recently wrote a post about planning, and quite honestly, it feels very incomplete without also addressing budgeting. Planning and budgeting go together like peanut butter and jelly – or for those with peanut allergies – cookies and cream.

Whether at home or in business, a budget is a necessity. Learning to live with a budget is an education in and of itself. It is a form on restraint to determine where your money as well as time should be spent. Budgets can be overwhelming at first, but once you establish one, you start to view it as a monthly planning tool that can move you to the next level of success. Here's your lucky seven's to budgeting:

1. Have a budget. One of the biggest mistakes most small businesses make is failing to budget. A budget is a planning guideline to direct your activities. How do you know where you should allocate your resources if you don't have any idea where your resources are going?
2. Build your budget around your mission and vision. Your business is built on your mission and vision. Your budget should be no different. It is built on your reason for being on business and your reasons for moving forward.
3. Know how to budgestimate. Yes, I said budgestimate. (For those of you who are just getting to know me, this is what is called a Julie-ism. It's kinda like a singlet.) Budgestimate are just as they sound – a budget estimate. And, that is what a budget truly is. It is a compilation of intelligent estimates of your income and expenses. This is actually the first rule of small business accounting: budgets are a best guess estimate. Chances are you will miss the mark when it comes to accuracy in budget. However, if you apply educated estimated guesses, you start to learn where your price points are and learn to adjust accordingly.
   
4. Be flexible. Knowing that budgets are based on budgestimates, you can draw the assumption that budgets must also be flexible. You absolutely must be able to adjust your budget based on actual expenses. If you budgestimate that your marketing costs are $200 a month, but they regularly come in at $250 a month, then by all means be flexible enough to adjust your budget. The same goes for the opposite, if that same marketing budgestimate comes in at just $150 a month, then adjust it down. Additionally, if you revenue exceeds your budgestimate, then it may be time to invest in some new equipment or marketing tactics. On the flip side, if your revenue isn't quite what you expected, then it is time to trim expenses. Whatever the situation, be flexible with your budget.
5. Be aware of your cash inflow/outflow. Bottom line – make sure your outflow matches your inflow. Obviously, there will moments when your outflow exceeds your inflow. Like the saying goes, you need to spend money to make money, right? However, just make sure you make this exception rather than the rule.
6. Be conservative. I once heard someone say that if you wanted to make it in business, you needed to double your expenses and slash your revenue. If you still felt this you could make it with this thought, then you are doing pretty well. Being conservative follows this line of thinking. Over budgestimate your expenses while under-budgestimating your income. Additionally, be conservative enough to save enough money for a cash cushion to carry you through periods of inactivity or unexpected, but necessary expenses.
7. Question everything. I'm going to repeat that. Questions everything. As a small business (actually whether you are big or small), you must question everything. I may sound like my grandmother, but remember that money doesn't grow on trees, people. You absolutely must question each and every expense. No matter what, question it to know if there is a lower cost, more effective solution.
8. Okay, I know I said this was the Lucky Sevens of Budgeting, but I just couldn't eliminate number 8. Review your budget every month. Your budget is an integral part of your business that needs your attention. Set aside a regular planning time each month to review your budget.

To your financial success!

JWS

Shiny Object Syndrome

Do you ever find yourself flitting from new idea to new idea in your business? Are you changing your focus based on the latest industry fads or trends? Do you find that you have started many projects but none are brought to completion? If you answered yes to any of those. Then you, my friend, may be afflicted with Shiny Object Syndrome. How do I know? I too am a victim of this dreaded affliction.

Shiny Object Syndrome (SOS), a familiar business buzzword, happens when you are always attracted to the BBD - the bigger,better deal. You invest your money and time into a new idea or project before determining if it aligns with your vision and mission for you business, your family and yourself. In the end, nothing gets accomplished except the steady depletion of your resources.

Not to be confused with being too busy or having a lot on your to-do list. SOS is more like a form of entrepreneurial ADD. Whenever that new shiny object is dangled in front of you, you jump towards it but you never quite reach it. (You can also view it as the carrot being dangled in front of the horse and carriage.)

SOS can lead to frustration, disappointment and burn-out because you rarely achieve the results you desire. So, what's the remedy? Well, there is good news and bad news. The bad news is that once you contract SOS, you always have it. It's the downside of being a creative being - you just can't stop the ideas from flowing. The good news, however, is that you can send Shiny Object Syndrome into remission with a few simple strategies.

1. Know your mission and your vision. I cannot stress this point enough. Be sure your know why you are in business and where you want your business to go.
2. Align your actions with your mission and vision. Are you spending your time, energy and money on actions that support your reason for being in business. Will these actions take you where you want to go?
3. Question everything. Whenever a new idea or project presents itself, ask yourself the following questions: Is this action best suited for your business? If yes, is it best suited for your business right now? Do my customers/clients what this "shiny object"? Do I have the resources (time, money and energy) to implement and maintain this idea? What do I have to give up to do this? If, when you answer these questions, you find that this "shiny object" is doable and aligns with your mission and vision, then by all means go for it. If you find that it doesn't work for you, file it away for future questioning, or even be open to sharing it with another entrepreneur who can use it.

Entrepreneurs - especially mom-entrepreneurs - are generally very creative. By no means, should you stop the flow of creativity. Just be sure to use some restraint as those ideas continue to unleash into your chaos!

As always, in chaos and creativity,
JWS

Chasing Two Rabbits

Have you ever heard the saying, "If you are chasing two rabbits, you won't catch either." I'm not sure if I have the wording exactly correct, but I'm close enough. Anyway, I first heard this insightful tidbit from Kelly (my phenomenal Bubble Gum partner) a few weeks ago. Basically, it means that if you are going in too many directions, you'll never be able to get very far in any of your endeavors.

This thought has been on my mind quite a bit lately. (I've even quoted it to several of my coaching clients who were "chasing too many rabbits!). In fact, I can't seem to get this quote out of my mind. And, while I think the concept is accurate, it's execution can be slightly flawed for mom-owned-businesses (or MOBsters, which is what I like to call all you rock stars!)

As MOBsters, we are, often without even realizing it, chasing way more than two rabbits (and most of those rabbits look a lot like our children and spouses). MOBsters are constantly faced with the challenges of raising families and businesses. Our attention is diverted from playdates, product releases, homework, press releases, cookies, client meetings, soccer, sales, and yes, bubble gum and business plans. MOBsters are serial multi-taskers moving quickly from task to task more out of necessity than out of practicality. So, how can we stop the madness of chasing multiple rabbits?

In all honesty, we can't. Our families and our business will always demand more than 100% of our attention. And, this doesn't even take into account other commitments with friends, other family, and ourselves. We can, however, create a workable solution by first slowing down to take assess how many "rabbits are in the yard." Once you have an idea of those rabbits, find the one that is you need to chase after first. Perhaps that rabbit moving quickest out of your range is the deadline on the article you need to write. Or maybe the rapid moving rabbit is your son who just had his first heartbreak out school. Whatever it is, MOBsters need to learn to focus their attention to the task that needs them the most (it might even just be dinner or datenight with your hubby).

Obviously, the original intention of the chasing rabbits concept is to focus your energies in one direction. (i.e. stop being a victim of Shiny Object Syndrome!) However, MOBsters don't always have the luxury of focusing our energies in one direction in business or family. What we can do, though, is condition ourselves to under-commit to new activities and over commit ourselves to the rabbit that is begging us to catch him.

So, what do you think? Is it possible for MOBsters to chase only one rabbit, or are we destined to chase two or more?

In chaos and creativity,
JWS

Video Demo of Jott

Commnet on the ways you would use this service.

Where Did My Memory Go?

We all joke about losing our minds, having "mommy brain" while pregnant and a decline in memory as we age. OK, at 38 (or am I 39?) I can't seem to remember much of anything. Friends from college tell these really great stories and I smile like I remember, but inside I am thinking, "Was I there? Maybe they are thinking I was there, but really I wasn't." Some of these stories are real doozies too...wish I could remember it like I was there! A friend emailed me the BEST, geeky, techy website for those of us who are busy, love to multitask and do some of our best thinking in the car. I signed up right away and have already tried it out! Check this out, a service, that is FRE*E, super easy, and allows me to keep two hands on the wheel. You simply sign up for Jott and then when you have a thought you auto dial the toll free number, speak into your phone and voila, your message is transcribed and emailed either to yourself, a group, or a specific contact. Get this...you can even BLOG from the phone! I'm going to try it out so you all can see how it works...brilliant I tell you!

5 Ways To Get Them To CLICK

Take a glance at your spam box, or your trash can, or the list of emails that you are about to delete without even reading them. When you are getting ready to send out your own form of internet marketing you will start looking at these emails a little differently. Many of us delete because we don't know who it is from, because we don't really need any more Omaha Steaks right now, or because it looks like someone is selling us something. Am I right? Keep that in mind when you are creating not only the content of your email campaign, but MORE importantly, when you are creating the subject line and even the from line of your email.


Here are 5 Ways to get them reading your message in no time:

1. Catch their attention with an exciting, intriguing subject line. (ie...You Know You want to...)


2. Legitimate email addresses only. This means get their permission before you email them, if not, you are a spammer.


3. Interactive emails with links to relevant sites, topics, products.


4. Content is KING! Make sure your campaign shows the reader what's in it for THEM!


5. Know your target market and make your campaign relevant and valuable to their lives.

The book Words That Sell by Richard Bayan is fabulous for getting the creative juices flowing! Check it out to the left under Kelly's Business Books.

The Lucky Sevens of Annual Business Planning

Whether you are a part-time, weekend mompreneur or a full-time mega mom-corporation, business planning is essential. I’m not just talking about the importance of having a business plan; I’m addressing the need to have annual plan – a roadmap – of where you want to go in the next 12 months. Without one, you and your business will meander aimlessly never knowing if you’ve achieved the level of success you want or deserve.

All too often, businesses – especially small, home-based businesses – feel that business plans and business planning is something only large corporations do. Nothing could be further from the truth. In fact, chances are highly likely that those large corporations got there because of planning!

The most common method of formulating your annual business plan is creating a new business plan or revising an existing one. However, all too often once these plans are created, they sit in a binder until the following year when they are recycled as coloring pages for budding toddler artists.

I’m no different. For years, I would revise my existing business plan, only to neglect to use it as a daily strategic operations tool. Business plans and operations plans become segregated from each other but also your mission, which is just about as effective as trying to get a child clean in a bath full of mud. I learned to increase the effectiveness of my business planning by following seven simple steps. (Really, they are very simple.) To align your vision, actions and results in to achieve the next level of success, try adopting the Lucky Sevens to Annual Business Planning.

1. Know your mission and vision. Seems simple enough, doesn't it? The truth is, though, that most companies operate without a clear mission or vision; often because they think they don't need one or they will be to difficult to create. They are neither. Simply stated, your mission is a declaration of why you are in business, and your vision is a statement of where you want to go. Be sure you can clearly communicate both to yourself and others.
   
2. Plan for your business and your family. These two entities are not mutually exclusive. They continually overlap. Be sure to consider your family's needs as well as your business needs when planning for the next 12 months. For example, what will you do if you have an urgent meeting with a client (rescheduling is not an option) and your child is home from school? Or, is it doable to launch a new product the same week your twins are turning one? Whatever the situation, be sure to incorporate your family into your business planning.
3. Stay true to your authenticity. Stop comparing yourself to what everyone else is doing. Like most of our parents said to us, "If all your friends were jumping off a bridge, would you do it too?" No, you probably wouldn't. The same rule applies in business. Be aware of what others are doing but avoid comparing yourself to those businesses. In fact, the only comparison you should be making is with your future self. Instead of keeping up with the Joneses, keep up with your potential by aligning your business with your values and integrity.
   
4. Learn from last year's mistakes and success. Glen whatever insight you can from your previous year's actions. Did the direct mailing have a zero return on investment? Find the cause and make adjustments (or scrap direct mailings this year). Did you the samples you handed out to fellow parents at the school parking lots yield you at least ten new customers? Then by golly, you might want to do that again.
   
5. Plan for success. Success can be a scary thought. Everyone wants, but how do you plan for it. Often, it is so much easier to plan for mediocrity. However, when you plan for mediocrity and hope for success, you stunt your growth. Why not plan for success instead? When planning, consider what you will do when you finally land the appointment with the potential client you've been prospecting for the past six months? Can you meet their demand? Are you prepared to meet their needs? Are you prepared to meet your needs when success arrives? Can you still meet your own needs when this happens?
   
6. Blend together a results-oriented business plan (including your business) with a strategic action-oriented operations plan to align your decisions and forward movement company-wide. Your annual plan and/or business plan does not need to be a lengthly dissertation that rivals the 700+ page Harry Potter book on your son's nightstand. In fact, a shorter plan can often keep you more on track than one diluted in too many details.) What your plan does need, though, is to be prepared as both a working document for you (no more leaving it on the shelf to collect dust!) and a succinct, written vision for potential investors.
   
7. Get SMART with your short- and long-term goals. Goal setting is an integral layer in the foundation to your success. However, goal setting alone isn't enough. You have to get SMART with your goals. SMART goals have traditionally been formed with specific, measurable, achievable, realistic and time-sensitive traits. However, in today's rapidly moving world, one-word descriptions just don't make the grade. SMART goals have evolved to align with you and your business. So, without further ado, here's the new SMART goal guidelines ...
   

• S: "Specific" paints a vivid picture, but SMART goals are also stretchy, synergistic, significant, socially responsible, shifting, shared and systematic.
• M: "Measurable" is a fantastic term to show movement, but also consider goals that are motivating, memorable, meaningful, methodical, and mission-matched.
• A: "Accountable" is the word that always comes to mind with SMART goals, but the A in SMART can also stand for achievable, authentic, acumen, agreed, abilities, and action.
• R: "Realistic" is a good start. Other contenders for R include relevant, reasonable, results-oriented, rewarding, reliable, remarkable, responsible, and resonating.
• T: "Time-sensitive" goals provide a much needed end point to strive toward. However, other"T" words to consider when composing your goals are tangible, thoughtful and truthful.
  

A few other considerations with business planning: (1) Start early. Allocate approximately 2 months for your annual business planning to allow yourself to do the most important part of planning - thinking about where you want go. (2) Be flexible. Business planning is not set in stone. Rather it is more like a pathmarker on your desired road to success. And finally (3) set aside time each month to review your plans so you know you are on track. If necessary, make adjustments for new developments in your business.

Best wishes for a prosperous and planned 2008!

JWS

PS. For more on this topic and many other mom-owned-business topics, tune into MOB: Mastermind on Business Gold Club on the 2^nd and 4^th Monday of each month. For more information, visit Inspired Imaginations and look under Exclusives!

10 Reasons to Begin Using the Internet to Market Your Business

1. You need to stay in front of your clients/customers, creating "top of mind awareness". This means they think immediately of YOU when the time comes that they need/want your service. Consumers are very fickle, they will jump ship to a competitor if it is more convenient, not necessarily because it is less expensive.



2. Email marketing is fast, easy and really inexpensive if you do it right. Try getting set up with an email marketing company like Constant Contact to send out professional email campaigns with little technical experience.



3. If YOUR contact information is at their fingertips they will access it, forward to a friend or remember YOU when it is time. (It doesn't matter if it is in their in box or in their trash...we all know it can still be retrieved)



4. People want ease and convenience which means being able to access your information/website/ordering process any time day or night.



5. If you are passionate about your company, start a blog. It is easy, it's free and it lacks the overt commercialism of corporate or company websites.



6. Social networks (Facebook, My Space, Ryze)are gaining massive momentum. Like blogs, many are free and require minimal time investment. Message boards are another form of social networking. Be sure to check out the Inspiration Village message boards on my partner's site! You can get yourself in front of your target market with little effort.
   



7. Once your blog is going not only do you earn the trust of your readers, you also increase your credibility. (Trust and credibility lead to sales, referrals and loyal customers)



8. Article marketing works similarly to blogging only instead of a website that you are posting to, you post your articles to article directories. How great is THAT? You just spent time writing an article for your blog and now you can get even MORE mileage out of it by submitting it to directories that target your market!



9. The more you are present on the internet with blogs, articles and of course LINKS to your homepage....the more business you will get!



10. Free ad space is everywhere on the internet. From ad sites to ezines the options are endless.

In the coming days and weeks I will be your guide to figuring out the ins and outs of internet marketing. So, what are you waiting for? Go gather those email addresses or at least start asking your customers for them!

Mom's Overture by Anita Renfroe

Going Viral

Have you seen this video? Chances are you have either seen it or can expect it to be sent to you by your mother, best friend, or, my personal favorite...the person who NEVER emails with any sort of communication...just email spam, forwards, jokes. But, I digress. This is my first post to our new endeavor to help the mom entrepreneur of today. I am the technology nerd (note I did NOT say expert), I love internet marketing and so here is today's lesson.

This video has been around for a while, however, for some reason it is bouncing around the web like crazy. This is the "going viral" phenomenon. Yesterday you had never heard of something, today, everyone is talking about it! Videos go viral more quickly than just a story or email. Think of it, people are visual (women especially), we like things that are quirky, funny, and hit home. Do you have an idea about a short video clip that might help you and your business go viral? It can't be too flashy or perfect. As users of the web we are becoming savvy consumers, we can see through a commercial a mile away.

What do you think this video has done for Anita Renfroe's book sales and speaking engagements?!