Starting a business doesn't have to be risky

I came across an article that tried to demystify the idea of starting your own business, they try and point out that starting your own business doesn't have to be "risky" or so doomed to fail as people would like to think.

The biggest takeaway I have is that the "big idea" has to be simple.

Nothing new there, everyone knows less is more, and Keep It Simple Stupid and (insert your favorite saying here).

But I believe it's worth considering, I so desperately want to create the next greatest thing that I might be over thinking, over working, or simply trying too hard, whereas, if I relax try a little less and try and see if the simple idea comes out then maybe I will discover the next big thing that can help pick my business up.

I believe the ideas and topics are worth considering so please check it out.

http://mywifequitherjob.com/starting-your-own-business-does-not-have-to-be-risky/

Can the entrepreneurial spirit live in a temperamental graphic designer.

When I come across fellow business owners, I hear the conflict that many of them feel, I often hear them "complain" that having their own business is a lot of "sales" work. And that's not what they signed up for, they signed up for sharing their passion about their product or service. And in my case I feel I have a similar challenge.

I am a graphic designer "a commercial artist," in my industry even though we deal with ads and marketing through our work, we rarely see ourselves as "sales" people. In fact, many designers take a pompous attitude with their careers and feel that they are the 'say all' and 'end all' to anything to do with design. This temperament leads to bad customer service

But something snapped in me since the recession that makes me believe I am an "entrepreneur" more than a designer, being a designer is the "service" I hope to be sought out for. But my effort and energy is to try and train and nurture my entrepreneurial spirit.

Hopefully through a different way of thinking, I will curve my design approach to be more "helpful" to my clients instead of taking offense that they want to change a design I presented to them.

Hopefully this change will head me in the right direction for success. Or at least try and help me get through these troubled waters, and be better prepared for the "next economy."

5 year business plan

I have read many articles from business experts saying you need to have a long-term and short- term business plan.

With me wanting to make sure I try anything and everything I can to ensure my business will be successful, I set out to try and put a plan in place.

And boy, do I feel like I am missing something? The ultimate goal is to be comfortable, I'd love to get my safety net back, and a nice flow of projects coming through the studio that is fueled by "new" blood. But how does one put that into a plan? Then be able to break that plan down to yearly, monthly, weekly, and daily?

So, I put the plan to the side and focussed on how to get new blood. I realized today that I may have a plan in place that makes me feel confident to say I have a plan! Wo hoo, a plan is better than standing in the dark saying where do I go next?

I have made a marketing-tier strategy for my business. The tier starts with some free (free to me at least because I don't have to pay for my creatives) free in money but not "time." If I charge $80 an hour and I spend an hour on one of my projects that's $80 lost. If no projects are in the studio it's not really a loss, but my challenge is keeping up with my plan while active projects are in the studio. (OK, so maybe it's not so "Free.")

Back to my topic, I start with "low hanging fruit."

1) Website design keeping my portfolio up to date with recent work, monitoring my web analytics every Tuesday, and making tweaks and adjustments to the site trying to address any falling statistic. (Probably 20% of my work week.)

2) Google Alerts, Blogging and blog commenting (2 hours a day)

3) Twittering (I have a schedule to check in with my twitter activity three times a day.

If I am in production mode on a project I let this slide, but if I am in a hunting mode, I can be on this all day!)

4) Press Releases (I'd love to do one a day "5 days a week" but it takes me three drafts to come up with an idea, which is about 2 hours plus take two to three rounds with copy writers helping me put spins on the article and editing my bad grammar, so this is limited to once a week.)

5) Eblasts (They say 80% of your business comes from 20% of your customers. Sending a bi-weekly eblast to my customers helps me know who the 20% is.)

6) Splash Page (I try and convert the eblast into a targeted landing page that can help convert the casual traffic to a more focussed conversion.)

7) Digg (I am looking for a name to call this concept. All I can think of is "Digg," it's basically a collection of sites like http://digg.com/ and http://www.stumbleupon.com/.)

I submit these landing pages to these social networks, hoping to get some traffic and link popularity from google.

8) Podcasting and Vlogging (I love documenting my work and creative process.) In an effort to help prospects understand where their money goes when they hire me, I have developed a strategy where I document a project as I work on it. Then, I convert this process into a padcast that will launch in itunes, and vlog, and a video version of the process that I publish on my you-tube channel. (This strategy has three distinct benefits to them: a) Increases exposure, new prospects can come from these channels; b) Helps provide some insight to a prospect who is considering hiring me and my company, but does not understand why it costs so much; c) Helps me stay on track. I do so many types of creative projects, by documenting my process as I do it, I can refer to it in the future to save time relearning something that worked and/or to give me an opportunity to figure out a better way to do the project this time.)

This last item is probably the most time consuming part and along with everything else, I am hoping to get a handle on it soon and add it to my weekly task list.

Boy, with all this stuff, when do we have time to do the work? That is my biggest dilemma, but it's important that I keep up with it. This strategy is the source for new blood, and new blood is the only defense, if existing customers decide they have enough design work to last them a while.

Hopefully this strategy will yield enough rewards with new business that I will be able to fund next tiers which would include, banner ad campaigns, google ad words, direct mailers, trade publication ads, Vehicle wraps, SIgnage, and trade shows.

Basically, everything I offer clients but can't afford the production.

The point to this is this: having your own business doesn't mean you get to slack off and call it a half day just because you 'wanna' kick back. To me having your own business means you don't mind making yourself work 60 to 80 hours a week. I am hoping to balance my family and social life a bit more, because I don't want to miss my kids growing up. But, I need to be able to protect them and provide for them, so I am "nose to the grindstone," and determined to make this business work.

At last with this plan I am starting to see "new blood" and I am beginning to see rewards from these efforts. I believe I am heading in the right direction, and can't wait to see where I will be 5 years from now. Like the Adam Sandler movie click has taught me, "I ain't in no rush and hope I can enjoy every minute of it."

Let me know what you think on the subject, I'd love to hear your experiences.

Serial Entrepreneur !

I just came across an industry term "Serial Entrepreneur" and I gotta say I got such a kick out of it.

I am a big fan of Dexter these days and I get a kick out of Dexter's "need to kill", he lives by a code that he must obey to keep him "on track".

And when I herd this term I could envision myself as being a "Serial Entrepreneur" and the code is basically my marketing strategy and design approach. No matter if I am promoting a pet project of my own or I dive into one of my clients businesses, I get the biggest thrill out of getting the next kill, ahem, business deal.

How many other Dexter type Serial Entrepreneurs are out there I'd love to hear from you...

Laid off ? Start your own business!

Ah ha!

I have found an article that backs up a belief that I have had since the recession hit. Why throw yourself at the mercy of an employer? Someone you give your 110% for to only be told after many years of dedication that your position is no longer available. I feel that the only real security anyone has is the security in themselves. By having your own business you have complete control over your success.

http://genystartup.com/startup/why-unemployed-college-grads-should-channel-their-inner-entrepreneur/

Tips for building your online business

Although I feel that you should have a passion for your product or industry then consider marketing that business online. This article talks about you selling a product online and developing a business around that.


I disagree with this approach I think you need to tap into what you're passionate about then try and build a business around that.


However, the article boasts that it is a perfect time to be in business, especially using the internet as a marketing tool. That I couldn't agree with more. Also there are some encouraging words helping you to stay focussed on your business goal and to never give up. And during this recession that is a hard thing to do but it's key that we never give up...


Read the article get inspired and weigh in on the subject.


http://www.ausbusiness.net/review/four-tips-for-the-online-business-entrepreneur/

How to launch a business on twitter

Ever wonder what the buzz is about on twitter.

Why is it that everyone is talking about it?

Well here is an article about a guy who launched his business on twitter and has documented his process from start to current on his blog. He showcases the ups and downs of this medium.

If anything it gives you a clear perspective on how you can launch a business 144 characters at a time.

http://online.wsj.com/article/SB10001424052970203550604574359362541707146.html

20 questions to ask yourself before you start a business

I came across this article that has some tremendous suggestions or "questions" to ask yourself before diving into an idea you have for a business.

20 questions to ask before you invest;

#1 what problem does your product or service solve?

#2 how big of a market is there for this problem? This pain and or need?

#3 how are those who have this problem solving it now?

#4 clearly articulates your secret sauce, other words what is your unique selling proposition?

#5 is there replacement products in existence that could solve the problem?

#6 who is the market leader in the space you plan to enter?

#7 how many other competitors are there in this space?

#8 what is your level of understanding of this market?

#9 is your idea a product or IP that can be patented?

#10 what stage is this market in terms of its lifecycle? Infancy, growth, mature..?

#11 what level of support will be required to serve this market? Do you personally have expertise in running a business?

#12 what are the distribution channels of this market?

#13 what is the buying cycle?

#14 what is the common payment terms for this market?

#15 Do the potential buyers of your new product have the ability to pay for it?

#16 is there any legal and or compliance issues this product must pass prior to launch?

#17 what do you estimate is the total costs per unit of sale, transaction

#18 what is the anticipated number of units sold in year one? What % of the market opportunity does this represent?

#19 what is the number of units needed to break even with your upfront investment?

#20 How much cash will you need, based on the buying cycle, the costs, payment terms and distribution channels to launch this product or service?

get inspired by the article here. and see if you can answer them all, the more you know the better off you'll be. Or will save a bunch of dough by not wasting your money in an idea that never looked good on paper...

http://nosmokeandmirrors.wordpress.com/2009/10/02/entrepreneur-best-practices-12-an-idea-is-not-a-productand-its-definitely-not-a-business/