What many miss is the fact that there are individuals out there know how to throw you off task and get work out of you without signing a thing.  One popular tactic is “The Emergency Project.” This is a project that often due to poor planning on the part of the organization) needs to be done immediately.  Because the turnaround is so tight, there is no time for “outlining the schedule”or “defining the terms of the agreement.”  By the time you realize you need an agreement, it is too late. They don’t understand why you need it-”What you don’t trust me?”

It actually has very little to do with trust. Having a contract, memorandum of understanding, or letter of engagement is a solid way to ensure that both parties are on the same page. There is absolutely nothing worse than completing a project without a contract and having the client tell you it is not what they wanted and they are not paying you.

Know this: There are clients out there who are familiar with this loophole and have a history of getting things done for free or at deep discounts because of it.

My advice: Get it in writing. If they have a problem putting something in writing, it is because they not you who has something to hide.

People spend their hard earned money because it makes them feel good. Fulfilling a want or need is a satisfying experience.  The last thing I want in the midst of my ultimate shopping high, is to be rung up by the cashier with the “Ugh Mug” who looks like she wants to snatch my wallet and put the “smack down” on a sista.

I know that business is hard. Work is hard. Hell, life is hard.  But as business people we are supposed to have the experience, the couth, the finesse to navigate this thing called life with elegance and poise. The face of your organization is YOU. If you look sloppy all the time there is a problem. If you look unhappy all the time there is a problem. The customer imagines that the leader of an organization that is successful is a happy person. Why wouldn’t they be? They have a high quality product that is doing well and loved by all. That waitress with the turned up nose? Wellwhen I see her only wonder if she ate something on the menu that is not agreeing with her.

Think that you are above customer service because you are not a cashier or a waitress? Wrong again. “AB FAB” behavior only works if your business is already world renowed and even then you better check just how fabulous you get with certain people. You and whoever you choose to have represent your fragile and precious brand, needs to be on point- and above all…polite.  In these challenging economic times, people have no problem whatsoever taking their pocketbooks to a place where they feel appreciated.

Now this advice goes not only for your relationships with direct consumers, but with everyone  you come across. Anyone is potential partner, consumer, or supporter of your company.  Have you ever attended a networking event where it seemed like the good old group of “regulars” were there ignoring everyone else and looking at you like just crashed someone’s retirement party?  You know exactly who I am talking about.  These power networkers attend networking events primarily to showcase their new outfit and look fabulously unapproachable.  What they don’t realize is that they are not the coolest person in the room.  They are not using the power of suggestion to lure the most qualified leads to their corner of the room. What they are doing is missing opportunities to make new and lasting connections. They are missing the chance to get to know someone they have seen a hundred times better. They are missing the chance to find out what their old colleague is now up to.  They are working against their own shot at comeptitive advantage.

Save the grumpy old man routine for when you are unable to leave the house. Save the celebrity routine for when you do actually have national pull and a global following. For now- be a real person and be the face of your business. Have people associate your brand with a smile not a frown.

It makes the world go round. It is the root of all evil. It makes dreams come true. It has such an impact on our lives and on our businesses that I had to write about it twice.  That’s right money. And everyone wants to know how to get it and how to keep it. 

Now I won’t call myself an expert by any means on money.  But with over 11 years experience raising money for nonprofit organizations, I can tell you that being better than I am at managing money is the way to achieve success in business.  (Now I just need to take my own advice)  Here’s why: An organization of any kind will have someone it has to answer to whether it is the Internal Revenue Service, a Donor, and Investor, a Client, or a Customer.  These are our stakeholders.  They depend upon us to make good decisions that will allow them to continue to benefit from the outstanding products and services we provide.

So first we have to get the money, And it is not as simple as reaching our hands out and asking for it.  Funders of any kind are going to require that you demonstrate the capacity to handle the responsibility they will give you. In the nonprofit world it is the responsibility to take that money and make a difference in the community. In the for profit world, it is making sure that they see a return on their investment.  In Government, it is showing that you are in fact the best man for the job and that you have the capacity to handle big projects or will most likely some day soon.

So let’s say you get the money. I almost think that is the easy part.  Business by its very nature generates revenues. But business also generates expenditures.  Expenses can be the most difficult part of managing your business. Expenses are fixed, and expenses are variable, and some expenses are unnecessary or untimely to say the least.  Businesses like people have needs and wants. It is important for a start-up business to manage those needs and wants and to try to “do without” if necessary. 

Doing without is something that comes natural to me. Not just because I came from very humble beginnings where my grandparents tried to provide for me and 8 other grandchildren, but because in the nonprofit world and in the theatre world we rinse, reuse, and recycle all the time. Don’t buy the shiny new 3 in one printer until your old ones dies. Don’t join every association just because you want people to like you, don’t meet every single person you come into contact with for lunch, and don’t purchase office space or a building until you are bringing in more than enough money to pay for it.

Like I said. Getting the money is almost the easy part. Keeping the money, not so much.

Don’t ignore it. Don’t get mad. Don’t be that guy.

Picture it. Your pitching your idea. You developed the concept late one night hopped up on rum and coke and twizzlers. You’ve got it all figured out. 1 million in your first year and your all set. It’s something everyone needs. It’s a cause no one would turn their back on.  All you have to do is tell people about it- and it’s on. After 24 hours of deliberation, it is time to share your brilliance with the world.

*Stop. You need to back up, slow down, and conduct yourself a Feasibility Assessment.

I know. You want to “make moves.” You have to “strike while the iron is hot.” But studies show that 50% of small businesses never make it past their first year. Another 95% will never see their 5 year anniversary. Now that is something to slow down and think about. If you are hungry for your business to thrive-especially in these trying economic times, you will need to heed this food for thought: In order to enhance your lifestyle and ensure longevity, you will need to come out of the gate with a plan.

In many ways, the feasibility assessment is a pre-cursor to the business plan. Why plan for a business that is no good to begin with? This is not to discourage you from going for it. Your idea may need to just be tweaked to meet real needs and deliver real results.  A feasibility assessment allows you to see into the future and develop your business idea around some very real situations and challenges. If you wait until something becomes a problem…it will be too late. If planning is “just not your thing” or “takes too much time” please reconsider being in business. Your business is like a child, it needs to be nurtured, developed, and allowed to grow at a healthy pace. During the life cycle of your organization, you will face challenges and obstacles regardless of careful planning and execution, but feasibility assessments and planning will help you to better deal with those issues in a timely and effective way.

I had a client who decided that she no longer wanted to work with me because she said that she did not “Appreciate my negative attitude toward her business idea and the chances for it’s success.” After being yelled at for 20 minutes, I calmly wished her the best of luck in her endeavour and told her to call me if she required my services in the future. I allowed that relationship to end because there was a major red flag in her approach to her business: inflexibility. In her mind, her concept was her baby and was not subject to critique or alteration. As I consultant, it is my duty to alert clients to any foreseeable obstacles and offer solutions and suggestions on how to combat them. I presented her with a major obstacle to her business, one she will confront later without a doubt. When she does…I expect that she will contact me again, or at least give some thought to our conversation and wonder whether she did the right thing in hanging up on me and sharing a few choice words.  I will gladly accept her back-of course under certain conditions.

Here is the lesson: In her mind, her idea was good as is. And why not? It came from her- and she is great!  In business however, the first thing you need to do is check your ego at the door. There will be times in business when the quest for the almighty dollar will humble you. This is the most valuable of learning experiences, and you will be a better leader and a better business person for it.  Don’t be fooled into thinking it can’t or won’t ever happen to you.

As always-live well and prosper.

Lawanda

www.missionincdevelopment.com

info@missionincdevelopment.com

We recognize that it takes work to stay at the top of our game.  As a result, self-improvement has become a huge industry. It is time for organizational leaders to recognize thatorganizational development is just as essential. This goes beyond tired teambuilding exercises and sales incentives. To be successful in a competitive
world, organizations need to ensure that organizational knowledge and skills are constantly being improved.
Systems and processes need to be evaluated and made more efficient. It is not just enough to work on quantifiable skills.  Soft skills that improve customer retention and build loyalty cannot be overlooked.  However, for these skills to make a difference at an organizational level, there needs to be consistency across the organization as well as individual and department buy-in.

Small businesses need to invest in programs that hone their competitive advantage. Non-profits have the opportunity to apply for capacity building and board development grants. As your organization seeks to improve your competitiveness, it is important to work with skilled advisors who can help you put together a plan on how to reach your next level.

We have all been in a situation where we need to decide whether or not to forge ahead…or get out while the going is good.  Many leaders choose to forge ahead despite the fact that all evidence points to calling it quits.  It is important to know that not all expeditions yield treasure.  A project, idea, or program that does not offer substantial value to your business or organization, needs to be analyzed and if necessary…canned. Staying with a bad idea until it is a good idea can have damaging effects on the health of your organization, as leaders pour time, energy, and resources at something that will never fully live up to its own potential.

When I lived in NY, I founded an arts organization called Community Arts United.  The organization was designed to bring about unity in the arts community and coordinate grassroots efforts for funding and other resources in the community.  It sounded like a wonderful idea and for a few months we saw success in the numbers of individuals that were attending events and were reaching out to us to partner on projects.  However, the market would not have us for long.  After a few events it was clear to us that the arts community was very much segmented and wanted to stay that way.

At the same time we saw that there was an interest in our becoming an online resource for all things happening in the arts locally.  We were hoping that our organization would get people together in person…but it seemed that what they really wanted was a way to interact online, announcing their events and promoting their artists.  At the time CAU had a pretty impressive mailing list and was positioned to fill this need in the community.

When the Vice President of CAU suggested that we switch gears and focus on becoming an online arts resource, I was reluctant to move in that direction. I had envisioned in dreams sugar plums and artists dancing hand in had singing spirituals after all.  This web thing just felt too impersonal. I wanted change. Visible change. But the VP was right. A few years later social media would hit and Iwould sit back and watch an organization that could have died that year continue to grow to this day on the wishes of its target audience alone.

There are many reasons why we hold onto projects, things, or ideas we should have let go a long time ago.  Sometimes we hold on because we are concerned about losing the respect of others.  Sometimes we are worried about the affect “quitting” will have on our career and on the way others perceive us.  Sometimes we feel we have reached the point of no return- where so much time, energy, or money has been invested in a project…it becomes a huge loss to us if we pull out. What we fail to calcuate however, are the costs of maintaining a project that is going nowhere. The stress and impact on future or existing projects can be hard to measure but significat nonetheless.

Accept the fact that not all of your ideas are genius. According to a recent article in Strategy & Business magazine,  it can take as many as 3,000 raw ideas to have one idea that results in one massive commercial success (McGrath, Iss.55) This speaks to our need to continue to be creative and take chances, while keeping in mind that not all projects need to- or should be seen to their completion.  In business it is okay and important to make mistakes, but we should always look to see to it that those mistajes are as inexpensive as possible.

Knowing when to say “when” can just what the doctor ordered when it comes to positioning your business for growth in other areas. Seeing clearly and removing clutter allows us to take advantage of other opportunities.  Die-hard commitment to a project often comes with the best of intentions, but knowing when to let go could be the best thing for your business.

Cults, Multi-Level Marketing, and Pyramid Schemes are everywhere we look and whether you are a budding entrepreneur or just someone who is seeking an opportunity to supplement your current income, it would be in your best interest to do a little investigating before springing into anything that sounds too good to be true.

On the surface, these opportunities sound amazing offering flexibility, extra income, and a product that sells itself. But what they don’t tell you is that 99.8% of people involved in these schemes never make any money at all and instead lose money, valuable time, and friends in the process.

Research shows that modest success (minimum wage) is rare in these operations and that the people who benefit the most are those at the very top of the pyramid-people you never see and only hear of.

It seems a little unfair to refer to these organizations as cults except for the fact that they function a lot like one with people invited to the event to act like “first-timers” excited about the product who are pre-arranged to sit next to you going “ooo…and ahhhhh…” To the hard sell and numerous phone calls, emails, text messages, other invasions of your privacy you will have to endure until you tell them to get lost. Even then you will not be done with them because they will have someone else contact you seemingly unknowing that you were previously contacted by someone else and declined. You will waste even more valuable time recapping the situation for them and in the end they will ask you for the name and telephone number of someone else to call and put through the same thing.

I believe in helping people whenever I can, and for those of you that know me, I will go to no ends to do so. I get a kick out of being able to connect people to opportunities that I believe will be good for them. I care about my good name and that people know that they can only expect the best when they are dealing with me or those I advocate for. That is why I am reluctant to subject the one’s I care about to scams and empty opportunities that will hurt them both financially and professionally in the long run.

I may make some enemies with this post, but one of the most important things I have learned as an entrepreneur so far is that it is difficult to remain an angel in the eyes of everyone. No matter how good my intentions are with this article, there will be people who do not like what I have to say. I must then be sure to note that not all mutli-level marketing businesses are scams and not all people involved in them are out to pull the wool over your eyes. Many are also chasing the American Dream and do not know the impact the business is having on them or on the ones they love. Others are careful in targeting their product to people who truly need it, or could benefit from being involved. These people respect your time, are not overly aggressive on the sale, and have given much thought to the fact that not everyone needs their product or service and graciously back off.

Having said that, here are some red flags when you are dealing with a representative of a company or group that relies on multi-level marketing.

1) Beware of any business where each person is recruited and given incentives to recruit other participants who are then given incentives to recruit more participants in an endless chain where no apparent good or service is ever sold.

2) Beware of any business where advancement in the company is dependent soley upon participants purchases or an increase in the amount of money you spend.

3) Beware of any business where the payout at the top is equal to or exceeds the total payout to all participants or the individuals selling the actual product or service.

4) Be mindful of the fact that as you are networking, traveling, and promoting the company, you are not being compensated for these expenses and you are in fact losing money.

While I would not categorize trade associations and networking groups as pyramid schemes or cults, it is important to be mindful of your participation in these as well. Any business association that is unwilling to understand how a membership fee in any amount impacts your business is not worth joining. Sometimes it is not that you do not see the benefit in participating, it is that the timing is not right for your business. You must find benefit beyond the network to make it worth your while unless you are at a point where your business could benefit from just being associated with the “name” of the organization for which you are a member. It is never okay for you to feel pressured to join an association or trade group. If they are a solid organization, they will be around when your business is ready and is in a position to budget for that expense.

When you do decide to join a group, be sure that the group will provide you access to people and resources that you would otherwise not have been able to come into contact with as easily. Also be sure that the workshops offered are conducted by professionals in that field with a proven track record. There are many “overnight experts” who are willing to sell you the very basic knowledge they have on the topic- information that you could have “googled” for much less.

Buyer beware and be confident in your own ability to do things. Do your own research unless you can afford to have someone else do it. Individuals that have been successful in building their business have been because they are careful to invest it where it is truly needed and do without some of the glorified marketing schemes and shortcuts. You wouldn’t take a job with no pay, so don’t join a group or a business that doesn’t have a direct impact on your bottom line.

Many organizations later in their life cycle will come to the conclusion that they need to establish a clear direction for the future and will decide to conduct a Capacity Review to determine exactly where they are today in relationship to where they could be or should be in comparison to others in their sector. Capacity planning is the process of determining the production capacity needed by an organization to meet changing demands for its products.  In the context of capacity planning, “capacity” is the maximum amount of work that an organization is capable of completing in a given period of time.

In my opinion, a Capacity “Preview” is also necessary to the survival of an organization, and can add substance to future Capacity “Reviews,” strategic, and long range planning efforts. We all can agree that it can be difficult to revisit somewhere or something you never visited in the first place.

Entrepreneurial Lesson 2: Was definitely as I learned it. During the initial business planning process, I was satisfied with the progress that had been made over such a short period of time, but found something about the process unsettling.  I had convinced myself that like most small businesses, I could expect to sit on my hands for a while and take my time planning for success because it certainly wasn’t going to happen over night.

But what happens when you are prepared for the worst and unprepared for the best?  Well what would seem to be blessing can in fact quickly turn into a nightmare as you scramble to “figure it all out” while “it” is all already happening.  This not only leaves your veins bulging and aching from anxiety, fluster, and shock, it leaves those observing your situation wondering if you are in over your head.  That is definitely not something you ever want a potential client to wonder about you or your company. 

A great way to avoid this unfortunate circumstance is to plan for your business with both success and failure in mind.  A perfect example of a business that planned for failure and not success is a bar that I went to a few months ago.  The bar rarely stocked up on alcohol because they knew roughly how many people came in each week, what they ordered, and even sometimes the name of patrons family pet and what items filled their grocery cart. 

What they did not know, was that the neighborhood around them was changing.  What they did not know, was that more and more young people were moving into the homes surrounding the bar.  These were young couples with disposable and income and no dependents. And hey liked to drink- a lot.  One night, a very large group of young urban sophisticates decided to stick around and explore the local flavors for the evening. They headed to the local bar to get a start on their night. The bar was completely unprepared for them and ran out of liquor within 1 hour! From that night forward, the hip professional sought out other hot spots where they could be sure that the bar would be well stocked.

In business and in life we can expect the unexpected.  But careful planning and common sense can minimize the effect of the unexpected.  Our tendency is to view a certain set of things as “bad” and another set o things as “good.” Our lowest points as human beings are those times when we learn the hard way how quickly one becomes the other. Not planning for success can be just as damaging to your business as not being prepared for failure.

Entrepreneurial Lessons As I Learn Them: Lesson 1
“Beta-Testers and Naysayers”

The world is full of “Beta Testers and Naysayers” and they are a common challenge for the new entrepreneur. How you deal with them is the first step to building your entrepreneurial dream. These character types can be found in your immediate family, among your closet friends, and out in the community as you attempt to share your vision with the public.

The first type of Naysayer I want to discuss is the one who has no concept of the amount of time that has passed since you last spoke. This person doesn’t realize that a lot has happened in your life since 1991 when you worked the cashier at McDonald’s. “The Naysayer From Back In The Day” is looking at you sideways because they can’t believe that “Tee Tee the fryer cook with the Gerri Curl” got her own thing going now. While this naysayer packs only very little punch, they can plant seeds of doubt in the mind of an entrepreneur who is still developing their message and is cautious of the road ahead. These seeds can grow into you making a fool out of yourself as you try to unnecessarily overcompensate in an attempt to prove to this person that you are the real thing. The important thing to keep mind is that this naysayer, may be reflecting more their own problems in life- and are projecting that insecurity onto you. They focus on who you were in the past and who they were in the past for a reason.

Always remember where you came from-but also remember that no one said you were destined or required to stay there.

Naysayer#2 has their hands in your pockets. I call this one “The Naysayer From Another Mother.” This naysayer is “worried” and “concerned” about the decisions you are making. Every conversation with them seems to about your risk and the practical application of your plans.

What baffles you is the fact that this person has been around you enough to recite your plans by heart! While a reality check is one of the most valuable things the people close to you can offer you in your journey to grow your business, if there are no suggestions or feedback that follow- a NFAM may be in your midst.

“The Naysayer From Another Mother” is not really concerned with the practical aspects of your new venture- they are concerned about how these practical applications are going to affect their pockets. Be Careful around this naysayer because they have something the “Naysayer From Back In The Day doesn’t: Constant Contact. This naysayer will make several attempts to get you back into THEIR comfort zone by scaring you to death about the road ahead. I can’t say that this naysayer came into play when I was starting my business, but I can say that I didn’t have a driver’s liscense until I was 28 years old because I lived with one. He led me to believe that there was no point in getting one until I had a car of my own. I knew that it was more likely because he knew that if I had one-I would buy a car of my own and drive far away from his stupid you know what. Instead I found that feet walking away would do me just as good in that department. A few months later, I got my driver’s liscense. And a year later, I was seen taking my new man for a spin in my very own car.

The moral of that story is that while certainly there are considerations and important decisions you will want to make as your grow your small business, know when you are ready to pursue your dream and then go out there and get it.

The last character type I want you to meet is the “Beta-Tester” I left the “BT” for last because they tend to be the most vicious of the offenders to your empire. “Beta-Testers are people who for whatever reason feel the need to “sample you,” press all of your buttons, and check to see if you “really work.”

The “BT” not only has a hard time acknowledging your drive and desire to succeed, they need to “test” it and see if it is the “real thing.” “BT’s” can be people that know you really well or people that don’t know you at all.

A “Beta-Tester” tests for a couple of reasons:

Some are genuinely interested in what you have to offer, but rather than tell you they are interested, they use a series of covert questions. Your answers to these questions will help them to silently make a decision about who you are and what you are all about.

The most destructive kind however, will continue to badger you for information (believe me you will notice) or will subtly ask you the same questions over and over again despite the fact that you have already answered them. And they will not be satisfied until you are tongue tied, insecure,or I guess “exposed.”

Here’s what I recommend when you meet this person. Break out that elevator speech. Give a brief, clear, and concise description of your company- then be totally silent. Answer a couple of questions about your business, but know when to stop. If the line of “questioning” persists, express your extreme elation with the fact that they are so interested in your service and invite them to take a look at your website and make an appointment to discuss how you might help them with their goals. Then move on.

The Good News is that once you have experienced these characters and the challenges they present, you will easily recognize them the next time they come around challenging your empire. Take the wind out of their sails and use it to fly. No one can take away your entrepreneurial shine.

And remember most importantly that it doesn’t matter if they believe you, what matters is that you believe it, you say it, and you do it.