Tip #1: How Winners Win!
Richelle’s Million Dollar Business Building Weekly Tips
Hey Richelle :
I just found out that most people are not winners. Actually, when you talk about the 80/20 rule – where 20% of the people do 80% of the work, I have found that is 98/2!
Becoming a winner takes some effort but most people quit too soon. And for entrepreneurs the RULE is exemplified. Remember how you deal with failure, will determine if you ever get to experience success! So what are you doing to have both a winning attitude and win during this economy?
Last week – I wrote about a simple forgotten marketing tool – trade shows/expos and I received several responses and comments about making them work for you.
This is what I learned in addition to last week’s tips.
To stand out from the crowd – have a professional booth made. If you are low on cash, my favorite company to rent a booth from is The Design Factory . A simple cheap strategy so that you can compete with the big boys at trade shows. The Design Factory even has “green” booths so if your competitive advantage is being “GREEN” or Sustainable energy, renting this booth is a no brainer. The Design Factory takes your graphics and places them on the booth. If you are coming to Las Vegas – the trade show capital of the world, they will even set up and take down for you! What a great service! Here are Cindy Throm, Lena Walther and ME at the Expo last weekend.
Love these 2 powerful women! Plus the owner of The Design Factory – Chris Harvey is another fabulous – kick butt business owner.
Oh yeah, and my friend Susie Nelson is the Master at making trade shows and expos work for you especially if you are a small business or in Direct Sales! Check out her information by clicking here.
Enjoy this week’s article – Forgotten Simple Marketing Tool
Richelle
Richelle Answers Questions
Greetings Ms. Shaw,
Here are my two questions:
1. After you have set your legal structure, how do you know when to split up your business into other businesses? Example, car wash service starts selling their car cleaning products to their customers, they do so well, the company places it online. The products start to have their own momentum. Should you set up each possible facet of your business in the beginning or what determines the breakout point?
2. If you live in one state, and it is more feasible to conduct your business in another state, what do you recommend as the Ultimate Relocation checklist to determine what state to move to?
If you are looking for participants in your Beta testing of this new product, please consider me as a viable candidate.
Love, love, love your brand!
Great success to you.
Greer Jacob-Holmes
Inspiring the Dream Network
Hello Greer: Thanks so much for submitting your questions and for the endorsement of my brand. And I will keep you on the list for the new product!
Answer to Q#1 – When to split up your business? I actually hear this alot from entrepreneurs. And I got back to the first rule of business – to make money. The second rule of business, make more money. PERIOD. So what I coach my clients to do is make the money first. Don’t spin your wheels with what if scenarios but you end up in analysis paralysis. Kinda like when I decided to drop some weight – AKA chubby girl I would run around and think of all the things that could go wrong. I would buy lots of “fat free” groceries, exercise equipment, a new DVD player because I did not like to exercise in the room with the old DVD player… you see when I give the example with weight, you are probably saying WHAT??? Why not just go out and walk around the block a few times! And that is what you need to do with the business. Just start. You can fix structure later. Right now all of the different entities is costing you important marketing dollars that you will need to test your idea.
When should you separate them out?? When the liability is too much and you want to preserve one entity. For example, if you notice that the insurance for the cleaning products’ onlines sales are so much because you need to use the same policy to cover damage to cars… you might consider separating them out. Also if you are bidding on projects and it is hurting you to have the other business and you need to separate the SIC codes. BUT for right now- I just say LEAP OFF THE ROOF and see what happens!
Answer to Q#2 – I would never recommend doing business in a state other than the one you live in. Even if they are close. You need to be in the state that you are doing business. Now as far as the Ultimate Relocation Package…I look for tax laws. Nevada, Texas and Florida are winners because of no state tax! Second, look to see that your target market is located in the state where you are moving. And the rest, well, it is hit and miss. Don’t be afraid to fail because, failures are valuable learning lessons.
Good Luck!
Richelle
Leave a comment and tell me if the article helped you! If you have any questions, I want to answer them!