Tax Disaster You can Avoid

Before you drop off your tax documents to any preparer, make a copy!!!  Here's what happened to one couple, Tom and Sue,  who are still dealing with this disaster.

Here's their story.  Last tax season they were in a real crunch...Tom was going overseas so they went to their local office of a national tax preparer.  All good, right? 

Turns out, wrong....very wrong.  After a few weeks with no contact Sue called them to find out if they needed any other paperwork and the status of their return.  April 15th was fast approaching and nothing was happening. 

That's when the shuffling and the run-around started.   The more questions she asked the more no one in this national tax preparer's office seemed to know anything about their Federal and State Tax Return.   Tom was still overseas and not able to help Sue.

Sue, on her own with her two babies in tow, drove to their office to pick up their documents and start over with someone new.   All she wanted was  her file folder of personal W-2's, 1099's, and her 2009 tax return back.

AVOID A TAX DISASTER!

What do you stand for?

Every one's talking about core values, beliefs,  manifestos but what does it all mean?  And how do values apply to my business?  What do they have to do with  me?

Actually, values have a lot to do with it.  Whether we define our values or not, they come out anyway, especially under pressure. 

Have you ever been in a business where employees are arguing in front of customers?  Have you gotten different info from each employee so you're not sure who to believe  The owner of this company has no idea what they stand for or where they're headed. YOU don't want to be that guy or gal.   

If you're new to business or your business has been growing, and you need to tweak a little bit, now is the perfect time to sit down and really figure out what you stand for.

But first you have to ask the right questions.

1. What's important around here?  What is important to your business; what are the values that you want to model?   Choose your top 3.

Legendary Service
All about Profit
Self Management
Positive Attitude
Collaboration
Say what you mean
Professionalism
Beat the competition
Quality
Bigger is better

2.  Where are we headed?   You can't answer that unless you know what's important  around here first.  Knowing where you're headed brings your vision into focus.

3. What we stand for?    Do you have a core idea to talk about?  Don't confuse your vision with your position.  A focused direction will show you where to concentrate your physical financial and human resources.  You have no substance,  no reality, no commitment.

4.  Understand the need to fall in love with risk.  Risk is the core of leadership.  Without embracing Risk,  without really falling in love with it,  you'll never voice your vision.   You'll let the fear hold you back.  Risk gives life to zing,  zest and vitality.  If there's no real risk there's no real celebration or rewards. 

5. Learn to motivate people.  In fact it isn't enough to be competent, you have to be able to communicate that competence.  Sell the benefits of your vision especially the emotional benefits.   Most people operate under the WIIFM....what's in it for me.  Get your employees, customers, and suppliers behind the company.  We want know what's  in it for us.



And right now as 2012 is right around the corner,  is your vision connected with your strategy;  have you aligned your strategy with your values; are you positioned to deal with a wide range or possibilities? 

How not to go Broke!

Recently, I've had several conversations with clients and friends over Cash Flow...or more to the point the lack of Cash Flow.   The cash register is ringing, the credit card machine is getting a workout, but there's not much moohla in your bank account.  What's up with that?

Here's the real skinny on business, money, and you.

You make a few big sales; there's more money in your bank account than normal and suddenly your brain says "I work hard and I deserve to spend some of this money on ME."  But let's look at the facts.

On your desk, filing cabinet, or in those unopened envelopes are the bills for your inventory.  Oh yeah, you forgot you haven't paid for the merchandise you sold, your cell phone bill, and the car insurance.    Don't forget you hired an assistant to help organize the office who still hasn't been paid, you signed up for a workshop and you need to pay the printer for your marketing materials. 

It's true you work hard, and it's true you deserve many wonderful things but it's also true you have bills to pay.  When you're a business owner you mostly come last....certainly behind your vendors, customers, and bank. 

I get that it sounds boring to "manage" your cash but it's your job...you signed up for it when you opened your doors.  And yes, whether you're a brick and mortar business or if your office is in your spare bedroom YOU are the CEO and the CFO. 

How do you feel after your big splurge on Happy Hour with the girls, that trendy new winter coat, and oh, the boots too?  When you look at your bank balance do you want to slam your head on the screen?   Are you frustrated and want to throw the towel in? 

Slow down...go on a low budget diet for a month.  Building up a cushion of cash is essential to your success....too many businesses crash and burn because they simply ran out of cash and couldn't cover their bills.  Don't let this happen to you.

PS: You owe sales tax for last month.

Rock your Intuition

We all have intuition whether we recognize it or not. It's that feeling in our gut, it's the anxiety we feel when we're  unsure, it's when we feel a little lost and alone.

Have you ever had well meaning friends and family advise you not to listen to your intuition; perhaps because it went against what they wanted for you, what they thought was best for you, or not the right path for you?  

Although they're well meaning we have to listen that gut feeling, that inner sense, that flash of insight that guides us.  When we  can't explain how we "know" what we know it feels a little creepy, a little manipulative, or even a little out of our own comfort zone....a little woo woo. People might push back with a "Who do you think you are?" because you're pushing them out of their comfort zone.

I say rock your intuition.... we have just as much success with that as we do any of the decisions so go with your intuition.   It's more than okay to just "know" it's tapping into your power. 

I have to laugh too at the irony, because the other side of me,  tells business owners to trust but verify so in reality,  find a balance somewhere in there.  

As Nancy Rosanoff, a nationally recognized author and trainer in Intuition says, "Through your intuition, you can discover inner wisdom you never knew you had. You can discover the course of action that's uniquely right for you. Successful entrepreneurs, scientists, executives, artists and lovers all have the ability to tap into intuition -- and far from being a mysterious, lucky, unpredictable force, intuition is simply a skill that can be learned."

Ducks or Heron - What's your business type?

 As I was walking the beach in Edmonds on Sunday I saw a flock of ducks paddling together.  Wherever the lead duck went the rest of them followed.  First this way, then that way, and now this way again...they dutifully followed the leader. 

Just down the beach I spied a beautiful heron.  The heron was mostly still - just occasionally moving her head from side to side and still always aware of what's going on around her.   

I stood and watched both the ducks and the heron for a few minutes pondering how natural they are in their environment next to each other in Puget Sound and yet worlds apart.  A duck can never be a large, majestic heron and a heron isn't a follow along type of bird. 

As business owners we need to be more like the heron standing alone flaunting ourselves.  We all have our unique specialness to offer clients and customers so let's make it easy for them to find us.  When we're bunched in a group or flock we all look the same and nothing about us stands out in the crowd. 

So take a deep breath and be the heron in your business...show off a bit...you deserve it.

Do you have what it takes to be an Entrepreneur?

Recently I met two women frustrated with their very new businesses and yet both had very sizeable "know it all" attitudes.  You know the type "My business is different and that advice may work for others but it won't work for me." 

This really got me thinking about what traits and attitudes fit well into the entrepreneurial lifestyle.  And you bet, it's a lifestyle, far different from having a       J-O-B and working in the corporate world.


So I asked other entrepreneurs what traits they thought were important I'm sharing the top favorites.
Top Entrepreneurial  Attributes:

Curious:  You want to know more, find real solutions, develop business skills, keep up to date on new technology.

Innovative: Always looking for ways to do more, create more, and dream more.

Motivated: Keep your eye on the prize...good days and bad.

Collaborative: Use brainstorming  and mastermind groups to boost your creativity and skills.    Competition is so last century.

Intuitive: Listen to your gut, verify, and then go for it.

An attitude of YES: An open mind to possibilities beyond what you envision, grab opportunities as they come, and say Yes more often than no.

What are your top traits for growing and  managing your business?

Awareness. It all begins with YOU!

Awareness.  This word has been on my mind for some time now. As I go through my day I see runners sprinting across the street without a glance, business owners obliviously spending their profit each month, wanna be entrepreneurs launching with no plan in sight.

Where’s the awareness of their world? Hit by a car, missed opportunities, and money down the drain all could be avoided with a sliver of attention.

And what is awareness really? Here’s some of what I found.

Self Awareness: an awareness of one's OWN personality or individuality. The first known use of this term was in 1880. Surprising, isn’t it?

But awareness goes back further to Aware: having or showing realization, perception, or knowledge.

Hmmm, aware of what….my surroundings, my place in business and in my business,  with my family and friends?  Doesn’t it go deeper than that?  What about  Awareness of how my actions and  the affect they have on  my family, my friends and colleagues, and most especially my clients.

So I was researching again…how does being aware show up in life. EMPATHY! Awareness and empathy go hand in hand…kind of like, well, like a margarita and salt.

During one of my sessions with Treysii Zamorano she mentioned we only bring ALL of ourselves with us into business....doubts, low confidence, and our inner struggles.   Now that’s a juicy bit that I can use to help my clients. Where there’s awareness and empathy there can be growth.

For me,  clients now learn No Fear Business and Bookkeeping.  This translates into confidently calculating their sales every day, knowing their bank balance before paying bills, looking for ways to increase their bottom line.  And no more sleepless nights!

How does this translate with your and your business?

Are you Sexy or Smart?

Ok Ladies, let’s get real about your money, your business, and your frustration.  I’m hearing from far too many of you that when you’re feeling miserable about your business, you go SHOPPING. Now, I have nothing against a girl spending her hard earned cash on a sexy pair of shoes, that is if you can afford them.


Just because you have some money in your bank account doesn’t mean it’s time for a spending spree…in fact it means just the opposite.  Before you spend a dime take a look at what you need to boost your business. Do you have a short and sassy business plan, a killer website that’s getting you sales, or even a hint of a marketing budget?  Well, do you?  If you do, congratulations and have fun at the mall. If you don't, whoa, Nellie. 

I get it…shopping can give you that emotional high when you’re outlook is gloomy but it only adds to your problems.  How is your business ever going to be the success you dream about if regularly blow your cash?   Smart entrepreneurs know that gratification isn’t instant… it’s built piece by piece over time.  Keep your eye on the prize and shop for a web designer, marketing expert, an assistant, or business strategist that’ll ramp up your business along with your self-esteem.


So the next time you find yourself at the mall just say “No, No, No.” and put that hot dress and those sexy shoes back on the rack.

5 Bold Tax Tips

No one wants to pay more than their fair share of taxes while staying on the right side of an audit.  Yes, it's always best to stay under the radar of the IRS so I say take advantage of the allowable deductions but don't go too crazy.

Here's my BOLD Tax Tips:

1. No need to keep all of those pesky paper receipts anymore.  There are several portable scanners like Neat Receipts or VuPoint and the IRS accepts scanned copies of receipts. Create folders for Gas, Auto, Meals, Travel, etc and then save the scans into the right folder...voila, your office no longer looks like a tornado hit it.  And don't forget the scanner is deductible!

2. Auto Expenses:  You can either take ACTUAL expenses or mileage but not both.  If you have a car for business and another for personal it's easy to track but if you don't you can easily track the percentages by keeping a totally detailed appointment calendar to figure out business expenses.  I know it's a pain to keep all of the receipts (see #1)  so use a gas card for business and you'll have the statements showing all your expenses.

3. Bank and Credit Card Statements:  I don't think anyone likes reconciling bank & CC statements but you've got to do it so you take all of your deductions.  It's easy to think you're good until you start looking line by line...oops, there's that dinner from two months ago, and that gift you bought from Amazon and had shipped to a client, and that vacation that turned into a business trip.  You're only cheating yourself if you don't take what's allowed.

4.  Review personal financials:  As business owners we can mix up personal and business credit, debit cards, or even write a personal check for business expenses.  So repeat above for all of your personal accounts.

5.  Cash or Accrual Basis:  Cash means you count your income when you get the cash and expenses when you pay out the cash.  Accrual means you count income when you send the invoice and expenses when you receive the bill.  Accrual doesn't involve any money...it's all about timing.  Most small businesses don't track Accounts Receivable or Accounts Payable so you're CASH but check last year's tax return to make sure.  Once you file cash or accrual you can't switch so choose the one that will you give the biggest tax break.

Values in Common

Recently I was in a little shop in a top tourist town here in Washington State.  Beautiful new building, lots of tantalizing items catching my eye but wait...who's in charge here?   The only staff person was using the laptop and keeping track of three small children and failing to make any type of contact with me or the other 5 women in the store.  Did she not see us, doesn't she need sales, is she the owner....all these questions  quickly raced through my mind and then I left without a purchase.

This scenario isn't that unusual now but it sure used to be.  Of course, growing up in Seattle Nordstrom was the benchmark for service and as far as I'm concerned it still is. And I'm always puzzled by a general lack of customer service especially when shop doors are closing up all over America.  What's going on around here anyway?  Well, I know one thing is lack of Values in Common.

Now the question is how do you, the business owner, identify what you value?  Doesn't everyone  value money, sales, and the bottom line.  Well, in my experience owners talk about one value and yet their actions say something differently and often louder.

When you follow these iniatives you'll not only identify your values you'll know how to apply them in your business and the difference will show up in your bottom line.

1. When you connect your values, your vision, your strategy, and your business processes and put mechanisms in place that encourage YOU and YOUR people to do the right thing, you'll attract the right employees and customers.
Translation: Your values connect to your marketing plan which includes your web site, brochures, Facebook, Twitter, LinkedIn and other printed and online pieces.  

2. Position yourself to deal with a range of possible futures, but then hone in on what you need for the future that actually arrives.
Translation: Plans do not follow a straight line; disasters, disruptions, and opportunities will randomly occur so identify 4 or 5 scenarios and the method you'll  win your market share under each one.   Identify the initiatives that show up in every scenario and use these as your main strategies.

3. Align your portfolio of initiatives with your objectives and strategies
Translation: Stop doing what you’ve been doing with little success.  Plot your strategy, weigh your financial success, critique your current actions, check for alignment.

4. Make sure the words you use inspire the actions you want.
Translation: Make sure you walk the talk. Sometimes you get what you ask for so be sure it’s what you really, really, really want.

5. Focus on the connections between stakeholders that create value for everyone.
Translation: Your stakeholders are your employees, customers, partners, shareholders, and your community.   All are important to your success so communicate to each group your vision and how you plan to create it.  Know that sometimes one group’s interest may conflict with another’s and prepare for it.

To be continued......

Working in Business

Years and years ago I went to accounting school and along the way I got a Master's in business. Well, not really an MBA but my real world experience is priceleess and goes well beyond what I learned in textbooks. My broad experience in Business came from working exclusively with small businesses who have limited resources and creativity is a must.

I've worked with an amazing variety of businesses over the years and learned something new by rolling up my sleeves and pitching to get the job done. I've never cared about my job description; I did what was necessary every day to help the company make money.

So I've written Employee Handbooks, developed streamlined systems for the Operations Department, and managed an office remodel...and help converge a plasma TV. I didn't realize at the time the amazing education I was getting...I simply did my job every day to the best of my ability with a willingness to be of service.

Whether you are a business owner or an employee with your eye on opening your own business some day, learn everything you can about the Business of Business.

Curiosity and Business

I talk a lot about Curiosity with business owners, networking, and particularly with my clients. You might be a talented mechanic, electrician, buyer, or stylist and decide you want to carve out your own niche but how are your business skills?

The two types of owners I see over and over again are...those that know what they don't know and those naively THINK they know everything. Those that are think they already know everything also lack curiosity and can't get out of their own way. Even as their frustration rises they will continue to reject ideas from anyone.

On the other hand the entrepreneurs who know what they don't know use the web to find solutions, reach out to a mentor, or hire a professional coach or strategist to elevate their company.

Curiosity is key to any entrepreneur. It's simply my observation that those owners who are eager to learn and want to elevate their business skills are the curious ones. They want to know how to find more revenue, when does it make sense to hire employees, how much money to spend on marketing and how to track the ROI.

So what type of business owner are you....Curious or not?

Lori Richardson of Score More Sales

In this interview Lori Richardson reveals what worked and what didn't when she launched almost 10 years ago.

What do you know now that you wish you would have know before you started?
I wish that I would have reached out to more people. I tried to do everything myself and I try to learn everything myself....it cost me a lot of time.  I wish I would have gotten good support on my branding.  I had the wrong name for my company and so I rebranded my company in 2005…I thought I was on the right track.  Always hire the pros. It’s funny because I thought I was on the right track.

Are you more of a collaborator or go it alone?
My whole tour this year is talking to business owners about the value of collaboration and the value of innovation. These two topics because so many us stay in your shell and we recreate the same problems in our businesses.

Do you have any mentors?
In every aspect of my business I have strategic partners or mentors. Businesses who are experts in their fields.  This is very valuable.

Favorite:
Movie: Miracle about Team USA beating Russia

Song : Anything with an upbeat…forward thinking.

Book:  Asset Based Thinking by Kathryn Cramer and Hank Wasiak.   It calls for small shifts toward what's working instead of moving away from what's not.  It's positive thinking about what you have instead of what you don't have.

Linda Snyder of Ladies Who Launch Seattle

Please meet Linda Snyder, owner of Ladies Who Launch Seattle.  Her drive and dedication to the Ladies is legendary.   For authentic business connections join savvy business owners at Ladies Who Launch.

What was your prior business experience and how did you get into Ladies Who Launch?

I got into LWL through my prior business.  When I moved up here from Eugene I opened a UPS store and although it was fabulous, it didn’t grow my soul.  So I started meeting with women who had small businesses and  we’d have coffee and I’d give advice. Then one day driving home I thought “Why aren’t you doing this full-time?”   I thought this is what I should be doing and I called a business broker and said here’s my price.  I started doing some coaching and I’d heard about Ladies Who Launch and had taken a client there.  I was in love with this organization, this is my tribe, so I did an incubator.  After six months my UPS store sold so when the opportunity came up to buy the business I didn’t even hesitate.  And as crazy as it sounds I didn’t even ask the price – which I don’t recommend.

What do you know now you wish you known before buying LWL?

How much work it is…I’m a hard worker but taking over another business is different than starting it on your own.  So part of the first six months was me putting my stamp on the business.

Have you had mentors or role models along the way?

My mom who is generous, warm hearted , and well spoken.  She’s done everything in her life with integrity and grace.   No business mentors in my life.  I worked in a male dominated organization and their style didn’t fit my style.  

As you business grows how do you get it all done?

Hours upon hours of work.  I love doing it and I’ve always worked hard and I’m passionate about it but prioritization on what I spend time on works well.  I love QuickBooks and recommend it to everybody I know.   Stay off CrackBook but Hootsuite is a huge time saver.  Lastly, stop being a perfectionist.

What personality trait serves you best?

Empathy…understanding of the creative process and where the incubators are going.  I'm great at visioning... to see what’s on the paper and where the business can go from there.

Did you dream of owning a business as a child growing up in an entrepreneurial family?

Yes,I played store, we had the setup in our room to play dolls.  We had fashion outfits for Barbies…putting on shows as the director…loved being the star in the neighborhood performances when I was really bookish and shy and introverted.  It's interesting that those facets of my personality came out in my childhood.

What was your first job?

At age five I got paid 1 penny for every bow I made for the store my parents owned.   Every Sunday I worked making bows.  Then summers I worked in the store at whatever make-work job in the  business until l I was 14 and got an actual paycheck.  

Do you trust your intuition?

Absolutely, but I also believe in Trust but Verify.  Take intuitive leaps and it's smart to back up and look at the tactical pieces that it take to get there.

What's your favorite: 

Movie - Pretty Woman....the chemistry makes me happy….it's a princess fairy tale

Song -  Ronnee Blakely  She Lays It On the Line....that's how I live my life

Book -  Qualities of a Leader  It's got real gems throughout it.

Susan Anderson owner of Forza Coffee Fisher Plaza

Please meet the incredible Susan Anderson of Forza Coffee.   Her high energy and spirit bring customers back again and again.  Check out her Facebook page and hit the LIKE button. 

What got you into the coffee business?

I worked for UPS for 25 yrs and went to Starbuck’s quite a bit.   And then down in Puyallup  a Forza Coffee opened about four years ago.   I went there quite a bit, they made me feel important and then when I tasted their coffee I thought "Wow, this is great." And it was the place to be…near high schools, churches, and I thought “I want to own one of these”….it just felt right....I just said it to myself.

About a year ago the Puyallup Forza Coffee put out a sign “Looking for Franchise Opportunities"  and for 2 weeks I walked by it and memorized the phone number and kept thinking about it.

So I took one of my co-workers to get their opinion and he was impressed too when the baristas knew my name and my drink.  Not only did he think it was a good idea but he wanted to be my business partner. We’d been in negotiation and were looking for the right location when the economy started tanking and we couldn’t get a bank loan. We tried six different banks with no luck.

We were going to be the first Forza in King County and were trying to move forward but then the officers were killed in Lakewood and nothing happened for a month.  It was a sad time for everyone associated with Forza Coffee.

Then in December we got a call from Fisher Plaza that not only are they a huge supporters of law enforcement,  they want a Forza Coffee in their building.   It was a remodel and not a build out so we could get into for a lot less.   And my business partner and I said YES!

What do you know now that you wish you knew before you moved in?

Perhaps doing more Due Diligence....it’s be a bit tougher without neighborhoods, churches, schools, but on the other hand the location cost us so much less and we’ve only been here for six months so we’re trying different marketing methods.  We thought being across from the Space Needle we’d be busier than we are. 

Do you have any mentors or role models that inspire you?

I was in management at UPS but I never consciously thought about it...

In your business how do you get it all done?

That’s what I’m in the process of working on.  I live in Puyallup and I work long hours and I’m trying to do it all myself but it’s just too much.  The more I work the less I have to pay out but I need to make a change.

What personality trait serves you best in business?

My nature is to make people feel good and this is a perfect job.  I welcome people and make them feel good like they’re at home.

How much do you trust your intuition?

I’m learning that right now…the timing of opening this…I’m learning that trusting your intuition is important.

Are you more of a collaborator or go it alone gal?

A collaborator..I was doing it all and trying to please everybody and now I'm enjoying collaborating.   My business partner does negotiations and finances because he also works full time.

What’s your fave movie?   Rudy or Field of Dreams…The Princess Bride,  Pride and Prejudice.

What’s your fave book?  The Gospel according to Starbucks by Leonard Sweet 

Fave song?  Music plays such a strong place in my life…Snow Patrol "You Could be Happy"

Jill Pagano of NiaDivas

The energy and passion of Jill Pagano really lights up any room.   As a former aerobics instructor and current Nia (non-impact aerobics) Black Belt she "puts fun back into fitness".     Her business NiaDivas in W. Seattle helps those with an injury or physical challenge get moving - Sway and Shift in a safe way.

 As a business owner Jill shines.  She understands the benefit of business planning, working IN the business, and creating value for her clients.

Enjoy my interview with Jill. 

What got you into the Nia business?
I was a personal trainer and fitness instructor and while attending  an IDEA Health and Fitness Convention I read this description of Nia class.  I tried it and loved it.  That was in 1995.

What do you know now that you wish you knew before you started your Nia business?
For me, I think to stay with it more.  I fractioned off a lot.   Nia has been a constant and I've had other side businesses along the way.  Nia has been a business/hobby that I dabbled in and now want to grow into a successful business.

Did you have any mentors or role models has you launched your Nia practice?
There are many Nia trainers that are role models to me around the world.  Helen Terry, a teacher and trainer in Houston has a very successful business.   Ann Christiansen, a European trainer for Nia.   They make their living very successfully at educating people in Nia.  And of course, Debbie Rosas Stuart and Carlos Rosas who founded Nia are my mentors.

As your business grows how do you get it all done?  Any tips on streamlining or
outsourcing?
I do believe in outsourcing.   What I've discovered recently is outsourcing to other people that do what I do.  That was a big aha moment for me.  I'm a Nia teacher and I have a graphic designer that's also a Nia teacher and the ability for her to understand what I want is so streamlined and so much easier.  There are 2,500 Nia instructors around the world and potentially they all do other things so it's a great community for me to jump into and use.  My postcard came together in just days because she got Nia.

When you get to the point of hiring people in your business what trait will you look for that will complement yours?
Consistency...detail oriented...someone who is able to track projects and know where we are along the way.  Right now I have an assistant that tracks our numbers...how many attendees, how many memberships sold, and if someone hasn't shown up for class she'll send a note. 
As I hold the container for the big vision of Nia and bringing the education and inspiration I need someone to also maintain the details.   It makes me a better teacher.

What personality trait serves you best in your business? 
Creative vision...seeing the big picture....thinking outside the box. It's a huge bonus that I bring.    As I develop that ...to follow through on ideas that are very good...that will propel the business.   Definitely, follow through on the big ideas.

Did you dream of owning a business as a child?
I knew I didn't want to work for anyone else.   When I was a junior in college I wrote a training manual for aerobic instructors.  I had the vision of working with and training people in the area of fitness.   I could never sit at a desk and wear nylons everyday.

What was your first business?
Where I went out on my own and hung my own shingle?   It was called Iron and Oxygen and that was in 1992.  I worked out of ProRobics as a contractor...I taught aerobics and also contracted as a personal trainer.  I had a logo and brochures and everything.  It was all about lifting weights and aerobics.   All the pieces were there for great success and it was a dream job.

How much do you trust your intuition?
I really don't and that's a weakness of mine.   I'm not even sure I know what my gut is saying half of the time.  I'm very transparent about how I question my gut all the time.  So as I move into this next phase of Nia it's all about understanding the sensation of the body that says "Look at this."    I'm excited about this since I haven't learned to value or trust my intuition. 

Are you more of a collaborator or a go it alone kind of gal?
I'm naturally a go it alone  gal....that's my instinct but I'm surprised at how much I like to collaborate.  I like to do what I do...I don't need approval of a bunch of people and I'm learning the importance of collaborating as long as I'm in the driver's seat....ha ha ha!

Your Favorite Song - Shimmer by Shawn Mullins  It's all about understanding that we're all born to Shine.

Your Favorite Book - Motherless Daughters by Hope Edelman.   I read it during my 20's and on a personal level,  when I needed it, it showed up.

Your Favorite Movie - Sliding Doors  A brilliant movie that shows how one split second influences our lives one way and also shows what the parallel view too.  What's our destiny?

Measure ROI for your Social Marketing

All you savvy women entrepreneurs and wanna be's too, have a knock out Social Marketing Strategy, right? That's what everyone is talking about - Mashable, Seth Godin, Keith Ferrazzi, Mari Smith.  That's why we're all on FaceBook, Twitter, LinkedIn, and are blogging.  So how is it working for you?  How do you know? 

Google Analytics shows what happens on your website but what if you're a brick and mortar store front; say a salon, spa, or boutique how do you track where new customers find you.

Here's a simple method to measure your ROI for each piece.

ROI Question:  How did you find us today?  (Friendly and engaging works...ask about why they're shopping today....have they visited other stores they found on X, Y or Z site.)

Ask the question of EVERYONE that comes in or phones your shop and write down their answers and ask for their email address too.   When you track like this you have far more accuracy than when you just guess or as I call it the "Shotgun" approach to marketing.   

Your Social Marketing is an investment whether it involves your time and no cash or your time + cash.  Small businesses rarely can waste their time and money without some  kind of return. 

Earlier this year I was in shop I had seen in the Sunday Times
Pacific Magazine for the past few months.  While I was at the counter paying for my goods, I asked the owner how the ads were working for her.  She looked a bit chagrined and said she didn't know.  A friend had suggested she advertise in the magazine so she did.  But with no plan she had no idea how many, if any, new customers she got.

The next time I was in she said she had cancelled the ads and was trying a different approach which involved engaging new walk in's and collecting email addresses...a much better plan.

If you use QuickBooks create a custom field for Marketing and add your customers answers to your ROI Question.  You can then run reports and evaluate where you're getting the most bang for your buck....ads on FaceBook, Google Adwords, Twitter specials...well, you get the idea. 

Ditch the shotgun approach and ask customers and clients where they found you...it's easy and they'll want to share with you.

Any questions...just shoot up an email.

New Kids on the Block

QuickBooks has long been the leader in small business accounting.  Intuit estimates their market share at around 85% and that 4 out of 5 accountants recommend QuickBooks.  This sounds great if you are a QuickBooks stockholder but can they hold on when there's more and more competition.

Here's a review of a three new competitors for the standard accounting program.  I've done the research, now see what you think.

FreshBooks looks good...lots of talk about managing, tracking, sending invoices but when I  got down deeper it seems like all they do is Time Tracking and Invoicing.  Hmm, seems like a lot of money at up to $39.95 a month for Accounts Receivable.   What about Accounts Payable and Expenses, Assets and Liabilities?
On the FreshBooks site you can find out how to integrate their program into QuickBooks, which leads me to a big, huh?

shoeboxed sounds cool but the more I flipped through their site the more  I went, Why?  The company is all about organizing YOU.  There's  an IPhone App so you can take a pix of your receipts, send it to shoeboxed where they'll categorize it and enter the contact info too. Again this program integrates with QuickBooks, and it saves you time and money, right?  Not at this price....Free, which pretty much what most business owners do now.  It steps up pretty fast from $9.95 to $49.95 a MONTH.  Kinda pricey when you're doing the picture taking and sending.  Oh, you can also snail mail your receipts...now that's so last year!

And finally, inDinero, intrigued me.  It's simple to set-up, monitors trends, and there's a cool dashboard.   You can say "Good bye Accounting"  and "Hello, inDinero".  Wow, these guys might really be on to something.  Most of my clients over the past 20 years haven't fully understood the accounting process or terms...this might be just the best thing in years.

But I'm still not convinced and the price is pretty steep.  The Free version allows only 50 transactions a month which isn't much when you're dealing with Invoices, Bills, Checks, and Credit Card charges.  The next level is $29.95 a month and then a whopping leap to $99.95 a month.

I did some simple math.  Let's just call it $100 per month X 12 months and you're at $1200 just for the inDinero.  The transactions have to get into the program whether you're downloading your bank accounts, hiring a bookkeeper, or have staff to do it. 

Back to the QuickBooks website to see what's new for 2011.  Not to be out done Intuit has been busy integrating new features to make "Everyday Tasks More Efficient".     Easily download bank transactions; email Invoices and Statements; Company Snapshots show trends from year to year. 

My recommendation - stick with a full on program.  Everything's in one place and best of all it makes filing your Year End TAXES a piece of cake.

Filing can be Fun!

Ok, I think filing and organizing get a bad rap.  It's not the funnest part of running a business but it sure makes finding that all-important receipt when you need it.



To liven up the task, check out these fashionable supplies available at Office Max and Office Depot.   Too much brown and beige can be so dull and boring.

These trend-setting supplies will set the tone in your office and you'll feel so up-to-date when meeting with customers and clients.

Spice up your office space with colorful desk accessories like these red organizers.  I'd choose jazzy and functional over boring and unuseable any day.   As you're browsing through the aisles look for items that might be for another purpose but will work great in your office.

I like these woven totes with handles for stacking on the shelves in my office.  They're easy to life and move to another room.  If I'm working on a big project I will find an engaging movie and get my filing done practically painless.   A glass of wine isn't out of the question either....fun is in.


Here's a short list of supplies you'll need to get started:
File Box

File Folders

Correction Tape
Binder Clips
Favorite Pens
White Board(a great place for your To-Do list)
Stand-up Stapler - very handy!
Sharpies
Envelopes

Getting organized and creating systems saves time, energy, and frustration...which all translates to saving money...that's smart.

The Power Chicks' Founder Lynn Baldwin Rhoades as Featured Friday

As this week's Featured Friday interview Lynn Baldwin Rhoades shares her inspiration and challenges with us when starting out as an entrepreneur.   Lynn is a smart writer who really delivers for women with Marketing Shebang and appeals to women entrepreneurs with The Power Chicks. 

What was your motivation to start The Power Chicks?

I was a new business owner myself and leapt out of a corporate environment, not prepared to be an entrepreneur. So I wanted to get a small group of women together to network, support each other, and help each other find resources. But the “small” Power Chicks group got super-big…so many women needed the same kind of support I wanted, too.

What do you know now that you wish you would have known before starting The Power Chicks?
How much my own individual need would be mirrored or shown in other’s lives. Power Chicks is in about 10 countries – and there are around 3,000 members. The majority is in the US and small group in Canada and the rest across the globe.

Have you had any mentors or role models?
I confess I’m a full-fledge “online stalker” – I watch and learn from what others are doing. I’ve been watching Lisa Rankin of Owning Pink for a long time; I love what she’s doing in her authentic manner. As for “real-life” mentors, I’m looking for one. I think we all need mentors.

As your business grows, how do you get it all done?  Do you have any systems or streamlining in place?
I have a lot on my plate, and I am not very organized. I actually get quite blocked with the chaos of it all! In the next several months, I’m determined to find new strategies – ways I can accomplish my goals without being so mucked up in the details that sap time.

What personality trait serves you best in The Power Chicks?
I think being real. Being honest. Although, this can make me feel vulnerable sometimes!
I was on the Sisters of Sizzle radio show yesterday and shared a story about being insecure at a women’s networking event. Afterwards, I thought, “Why did I share that?” I didn’t let my brain take me down that slippery slope of self-criticism, but I do think because I’m willing to be open, people can relate to me. I mean – don’t we all have those moments? And at the end of the day, I want to see us all succeed at our biggest dreams; who we’re supposed to be...and not just our businesses.

Did you dream of being an entrepreneur?
No, I was going to be a nurse, a missionary, a firefighter and then a writer -- which I ended up being.

How much do you trust your intuition in your business world?
I go back and forth a bit…some days I trust myself a great deal and other days, not so much. I do know the more grounded I am, the more I trust what I have to offer the world.

Are you more of a collaborator or more of a go-it alone gal?
I’m actually both. I’m introverted at heart, which means I process things individually in my own head. I need to come to my own solutions, so in that way I’m “go it alone.” But as for collaborating, I love working with people. I have certain strengths and you have certain strengths, and when we come together, we are that much more powerful.


Favorite Movie : The Whale Rider, because it makes me cry. Gran Torino, because it makes me think. 50 First Dates, because it makes me laugh.

Favorite Song: I don’t have one.  I do enjoy music, but rarely remember the names of the songs!

Favorite Book: Gift from the Sea by Anne Morrow Lindberg.