You've heard all the phrases about the virtues of giving, many with Biblical origins. You may even have experienced moments of selfless giving yourself that manifested in tremendous opportunities coming back to you. I love to give and I must say it's always a wonderful surprise to see what comes back. One instance stands out for me because of the impact it had on my business. Last year I went the extra mile to help a stranger who walked into my office complex seeking assistance. Afterwards, he was so thankful for the generosity, he took me to lunch and it turned out he represented a prominent business contact for me and I have since benefitted personally and financially from this relationship...very effortlessly I might add because I initiated the "giving." Giving is good all around, anonymously or otherwise, and is especially good for business. Here's part of my formula for success.
Establish some type of charitable giving model
Align yourself with a local or national charity that would be representative of your industry and or target market. If you work with kids, then consider charities that support education, Toys for Tots, provide clothing, etc. Earmark a small percentage of your profits or a fixed dollar amount to the organization and let others know you're supporting this group. You may also want to co-sponsor events and fundraising drives that are mutually beneficial. Besides being a good thing to do, you'll receive more attention from the media and clients love it as well.
Give to your customers
Consider establishing a unique rewards program for existing customers and make them aware of the fact they're getting something special. Could be a tangible item, additional services, or special discounts. It should be done "just because" and will not only build loyalty but may also inspire your customers to refer more often. There are companies I pay higher prices to for that very reason.
Give to your prospective customers
Offer something for free to prospects to immediately establish a positive energy flow and to allow them to experience you in a positive way prior to making a purchase. If you can impress them before they do business with you, chances are you'll manifest a loyal customer when they're ready.
Give to your community
Consider positioning yourself as a giver in the community by hosting networking events, hosting online discussion boards, providing a free service that would benefit all, etc. Consider the popularity of a vet who opens a dog park next to his office practice. You can achieve instant celebrity status in the community and will experience an effortless flow of customers at your door.
Friday, November 28, 2008
Tuesday, November 18, 2008
Who's Got Your Back
I know what it's like --- going a hundred miles an hour pulling in resources as you go, putting deals together, meeting with vendors, investors, and of course taking care of customers. All of these activities are great AND they all require an agreement of sorts. How many decisions do you make each day that will have a long term impact on you or your business? How many of those decisions do you take the time to check in with your attorney or your team? Probably not enough I would imagine. For many up-and-coming companies, it may seem cost prohibitive to constantly be checking in with legal counsel. But you know you probably should. You may also think that some of your decisions are rather simple but since you're not working with a crystal ball, you really have no idea of the full, long term, impact of those decisions.
So here's my list of "must do's" to protect yourself and those you work with. One simple oversight can be devastating to a business but you can easily minimize risks by putting the following safeguards in place
1. Create a list of safeguards that require you to check in with your team before making certain decisions.
I talk about team all the time--- ideally an Advisory Team, business mentor/coach, Board of Directors or Mastermind Group. At the very least, you want to have 1-2 people around you that you trust and have experience in business. Make an agreement with yourself that you'll check in with your team every time you're faced with an expense that is over a certain dollar amount (you choose), a situation where you might be awarding stock, or a decision that requires a large investment of time. This forces you to slow down and get perspective. I have clients that check in all the time (as part of our working together) because we've established their own safeguards. I walk them through their decision to make sure it's in their best interest and they appreciate the feedback.
2. Have Agreements available and ready to execute for every scenario.
One of the best and most cost effective program investments I've ever made was in Jian's Agreement Builder at http://www.manifestsuccessplanning.com . This program contains over 160+ legal contract templates for every scenario including your Company's Operating Agreement. It has not only saved me thousands of dollars, it has also made me thousands because the templates prompt you to address issues you may not have thought about until it's too late. Scroll to the middle of the website, left side under Business Contracts to order. I use them with team, strategic partners, vendors, etc.
3. Enroll in PrePaid Legal to have ready access to an attorney 24/7.
I've had PrePaid Legal (www.prepaidlegal.com/go/dreamscoutllc ) for many years and pay approximately $25/month to be able to contact an attorney anytime I want. In the past, I may have hesitated seeking legal advice so readily even though I really needed the support but I was thinking of the expense--- but not anymore. For example, I'll complete a contract from Agreement Builder and then fax it over for an attorney review to make sure I've covered all the bases. Or perhaps I have a business question or an issue with someone I've hired. They'll write letters for you too. Nothing like having an attorney send a cease and desist letter on your behalf for peace of mind. It's all included! It's silly not to take advantage of this cost effective support if you're a small business owner. I have attorneys in my family and I still find this a more effective option.
4. Establish a relationship with an attorney and other key resources to have as back up .
Develop relationships with some key people so you'll have ready access to certain resources and not scrambling at the last minute during an emergency. This could include an attorney, a notary, backup technology support in case you need to quickly replace your webmaster, an insurance agent, and banker, etc. Having pre-existing relationships will insure smooth sailing for you in the event of a problem or when you need immediate and personal assistance.
5. Maintain access to all important codes, documents and IP in a central location.
As you expand your operations and outsource some of your activities, you'll have different people managing your technology and various accounts. Make sure that you are given access to every account code, especially as it relates to merchant accounts, customer files and your website hosting account. Also be sure to have control over all your intellectual property such as domain names, trademarks, copyrights, and patents. Have a plan for regular computer backups and maintain your files in a safe place.
Maria Simone is a Conscious Business Development Expert who will show you "NEXT STEPS" for transforming ideas into products, effortlessly attracting investors and sponsors, and manifesting customers with ease. http://www.passion2prosperity.com
So here's my list of "must do's" to protect yourself and those you work with. One simple oversight can be devastating to a business but you can easily minimize risks by putting the following safeguards in place
1. Create a list of safeguards that require you to check in with your team before making certain decisions.
I talk about team all the time--- ideally an Advisory Team, business mentor/coach, Board of Directors or Mastermind Group. At the very least, you want to have 1-2 people around you that you trust and have experience in business. Make an agreement with yourself that you'll check in with your team every time you're faced with an expense that is over a certain dollar amount (you choose), a situation where you might be awarding stock, or a decision that requires a large investment of time. This forces you to slow down and get perspective. I have clients that check in all the time (as part of our working together) because we've established their own safeguards. I walk them through their decision to make sure it's in their best interest and they appreciate the feedback.
2. Have Agreements available and ready to execute for every scenario.
One of the best and most cost effective program investments I've ever made was in Jian's Agreement Builder at http://www.manifestsuccessplanning.com . This program contains over 160+ legal contract templates for every scenario including your Company's Operating Agreement. It has not only saved me thousands of dollars, it has also made me thousands because the templates prompt you to address issues you may not have thought about until it's too late. Scroll to the middle of the website, left side under Business Contracts to order. I use them with team, strategic partners, vendors, etc.
3. Enroll in PrePaid Legal to have ready access to an attorney 24/7.
I've had PrePaid Legal (www.prepaidlegal.com/go/dreamscoutllc ) for many years and pay approximately $25/month to be able to contact an attorney anytime I want. In the past, I may have hesitated seeking legal advice so readily even though I really needed the support but I was thinking of the expense--- but not anymore. For example, I'll complete a contract from Agreement Builder and then fax it over for an attorney review to make sure I've covered all the bases. Or perhaps I have a business question or an issue with someone I've hired. They'll write letters for you too. Nothing like having an attorney send a cease and desist letter on your behalf for peace of mind. It's all included! It's silly not to take advantage of this cost effective support if you're a small business owner. I have attorneys in my family and I still find this a more effective option.
4. Establish a relationship with an attorney and other key resources to have as back up .
Develop relationships with some key people so you'll have ready access to certain resources and not scrambling at the last minute during an emergency. This could include an attorney, a notary, backup technology support in case you need to quickly replace your webmaster, an insurance agent, and banker, etc. Having pre-existing relationships will insure smooth sailing for you in the event of a problem or when you need immediate and personal assistance.
5. Maintain access to all important codes, documents and IP in a central location.
As you expand your operations and outsource some of your activities, you'll have different people managing your technology and various accounts. Make sure that you are given access to every account code, especially as it relates to merchant accounts, customer files and your website hosting account. Also be sure to have control over all your intellectual property such as domain names, trademarks, copyrights, and patents. Have a plan for regular computer backups and maintain your files in a safe place.
Maria Simone is a Conscious Business Development Expert who will show you "NEXT STEPS" for transforming ideas into products, effortlessly attracting investors and sponsors, and manifesting customers with ease. http://www.passion2prosperity.com
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