Create Your Own Team Of Experts Who Will Work For Free

I'm very blessed to have terrific talent surrounding me and constantly giving me feedback and support with whatever I'm working on. I'm asked "how did you do that" all the time. So here's a summary of a linger piece I wrote that can be found at www.manifestsuccessguru.com:

So the old saying goes "if I only knew then what I know now".
I say "why wait to have the experience"?

Avoid the "hard knocks" that people insist on having by building a TEAM of people that have demonstrated success in the areas you're about to venture into. Think about what it would be like to have someone in your life that has been down the same path that you're about to go down, who is freely sharing with you what's in store. You'll be able to plan better, make better informed decisions, as well as save lots of time and money by avoiding the most commonly made mistakes.


What do I call my TEAM?

Make it formal and professional to lend credibility. I like ADVISORY TEAM or ADVISORY BOARD as it relates to business. Others call it MASTERMIND GROUP, and MENTOR GROUP.

Who should be on it?

Here are a few examples of the "profiles" of those who would provide a well-rounded experience

1. Someone with experience developing a business--- starting a business, experience with acquiring funding, dealt with legalities of having a business, launch, growth, exit strategies, etc.

2. Someone that has actually launched or worked with a company that has achieved your desired revenue goals in yours or a similar industry. EX: One of my companies is a fashion accessory company so I sought out the advice of Nick Graham who had founded the very successful "Joe Boxer" brand in 1987.

3. Someone that responsibly represents YOUR desired market that can give you feedback and credibility along the way. EX: My friend launched an animation company that produces cartoons promoting environmental issues. The Honorable Al Gore is on their Advisory Team.

4. Someone not related to your business but well-grounded and "wise" in other areas of life. This person will help give you perspective and support your desire to have balance in your life.

What to say?

In short, approach these people and request a short meeting where you'd have the opportunity to ask them some relevant questions about your business that they would completely relate to. Can they validate what you're doing? Did they have similar experiences they could share with you? Is there anyone else they would recommend you speak to? Any special advice they could give you?

How to follow-up?

Request that they allow you to check in with them once a month to share your progress and to seek their guidance. People generally will be honored to be able to support you at such intervals and won't think to ask for anything in return.

Not only will they get to help the next generation succeed, the relationship itself will start attracting more people, customers, capital and other resources to your project.

10 Simple Things To Do That Builds Value And Attracts Capital To Your Business

Here are some things you can do right from the beginning to build value in your business...it's like creating "instant equity"! These are important items if you want to attract capital, are planning to sell your business some day, want to attract large contracts and joint venture partners or perhaps a high profile individual to your team.

See what you have in place right now, and then plan for the rest:

1. Protect all Intellectual Property (IP) along the way---- Copyrights, trademarks, patents. Make sure you have the opportunity to create MORE intellectual property as you grow:
A very low cost domain service I use is at http://www.snagadomain.com (I register any name related to my current and future brand and product extensions).
Register your written and/or printed material copyrights at http://www.loc.gov
For patent and trademark searches go to http://www.uspto.gov

2. Start building a client database ASAP. You can do this even during your formation stage by offering something complimentary to people who sign in, or perhaps host a contest to quickly build your list.

3. Seek out and document Strategic Alliances and Joint Ventures--- Formal relationships with people and Companies who can help build your list, bring you new business, be able to offer value to your customers, and create marketing exposure for your Company.

4. Create opportunities for licensing agreements. Let someone "rent" your intellectual property for a fee OR you may have the opportunity to package your product with someone else's "brand" on it. EX: A child would rather have a shirt with a Disney character on it than the same shirt with no character.

5. Systematize all aspects of your business right from the beginning. Every facet of your business should be duplicatable and/or automated. This includes sales, marketing, operational functions, delivery and the product itself.

6. Will your IP become obsolete? Can you update, upgrade or easily develop new products and services around your original IP? Software and computer manufacturers do this all the time. This was not the case for gas-lamp lighters when electricity was invented, or for telegraph operators when the telephone was invented. Are you a computer manufacturer or a gas-lamp lighter? Demonstrate that you'll be able move into other market segments as the market shifts.

7. Whatever your product or service is, seek out opportunities to create RECURRING REVENUE for your Company, examples would be: Warranty programs, leases, memberships, refills/replacements, usage fees.

8. Have famous, well-respected, and/or high profile people on your team when possible or at least using your products. It's great for instant visibility and credibility!

9. Issue press releases along the way and create PR opportunities such as getting written up in magazines when you can. Keep the buzz going at all times. Announce new product launches, new team members, a joint effort with a charity organization, etc.

10. Ask for and document all testimonials, product endorsements, and letters of intent to be able to show to prospective partners and investors. These could be replaced by actual sales contracts and purchase orders in the future.

Application of these items requires very little effort yet will take your business to another level.

To your success!
Maria Simone
www.mariasimone.com

"You're as good as the people you associate with"

I don't even watch the news regularly but somehow, the stories of the "girls gone wild" in Hollywood keeps coming across my radar. What's up with that?

It only makes me think of the saying I've been hearing forever that says
"You're only as good as the people you associate with".

It's obviously very true in life...as we've been *exposed* ad nauseum these past few months to their wild antics, it's obvious that their relationship with each other has had an influence on their behavior.

The same can be said for other areas of your life of course:
If you want to be successful, hang out with successful people.
If you're raising capital for your business, hang out where the investors are.
If you're looking for TEAM and/or experts, hang out where your industry hangs out.

I like to mix it up to make sure my "networking" experiences are meaningful.
As my agendas for my different projects evolve, I'm always evaluating who's in my "circle of influence" to make sure that the connections are mutually beneficial.

There are certain groups I have outgrown, or my focus has shifted in my business ---- it's good to be aware of those shifts and to respond accordingly with a new emphasis on where you'll be spending your time.

This happened naturally when I got married 3 years ago. Hanging out with my die-hard single friends no longer supported me and my growth so I made some shifts in my relationships.

The same shifts happen in our businesses as our agendas change but often we're not always aware of when it's time to move on.

To your success!
Maria Simone
www.manifestsuccessguru.com