Do you have an Advisory Board for your business?  Have you considered it but you don’t know where to start?  An Advisory Board can be one of the best things that you can do for your business if you use it correctly.  It take work and it take commitment from everyone, done right everyone benefits.  Here are some steps to creating your Advisory Board.

1.  Select 3-10 people you believe can bring valuable assistance to your business.  I asked people who are in my network and  who new my products and services, they were raving fans. I had a high level of respect for each of them and their business success and I knew that they would hold me accountable.

2.  Ask each person if they would be willing to serve on your advisory board. You cannot get to yes if you do not open yourself to the possible no.  Let them know you value their opinion and would like to have them on your board.

3.  Let your board know how often you would meet, when you would meet, what you would like to achieve, and why you chose them to help you.

4. Set your first meeting and be prepared.  Start your meeting on time and have an agenda.  Let your board know what your goals are, what you are currently doing and what kind of things you want to do.  Let them ask you questions and get to know your board.  Above all, be completely prepared to work each time you meet.

5.  Thank your board, ask how you can help them.  I ask my board the last time we met, what it was that I could do for them.  Their response, “Keep doing what you are doing, be prepared and do what you say you will.”  I was very surprised, I am always prepared and always do what I say.  I also take great pains to find referrals for my board members.

A Board of Advisors is a great way to help you focus on your business and build strong relationships, it is a great way to strengthen your network.

are you working your Network.  I asked this question of several of the students in our Referral Dynamics Class last week and I later asked the same question of several BNI members.  In every case they said that they spent a great deal of time working their networks.  They attended the regular meeting, connecting with their fellow members, and they indeed did work their network.

Unfortunately that is not the network I was speaking of.  That is one of the places that you go to network, I was speaking to “Your” Network.  Those people whom you have in your database, those people who have met when you have been out networking.  How much time do you put into working your network, calling them up to reconnect, sending articles to them, meeting them for coffee, inviting them to events, or publishing them in your newsletter.  Do you track your activities and whom you are spending your time on?

The Referral Institute has a very handy tool called the “Networking Scorecard”.  This tool allows you to track the activities that you are spending on your network.  Creating a proactive process for nurturing your network, so when you have a need there is no problem picking up the phone and calling someone in your network and asking for help.  After all, you have spent quality time working your network.  Sometimes it is more important that you spend time developing what you have then adding more to the mix.  Once you have developed your network, then you can spend time adding more to the mix.

There is a great deal of pride in the size of a man’s, er, uhm well, you know, their network or at least the number of people in their database.  But, isn’t there an old saying about it’s not about how big it is but more about how…….um, well how well you know the people in your network?

Quality of quantity, visibility networking over credibility networking.  When you work in your network, building relationships, following up with people finding ways that you can help them and connect them you are building a stronger, more credible network. 

Recently, I wanted to meet a certain person who’s name will not be mentioned.  I began to ask my network, who had this person in their network and could they connect me.  Keep in mind, for me a connection is either a face to face introduction or a conference phone call where all three parties are on the call.  More than half my network had his name and number in their network, but only 2 people were able to pick up the phone and arrange a meeting and introduction and both of those people were willing to make that happen for me.    Only 2 people really knew the person I was looking for………so what good were the others?  What value is there in having a name and phone number in your network if you have not done anything to turn it into a relationship. 

Take time to develop your network, not just grow your network.  Take the time to build Credibility, in so doing, it will lead to Profitability! 

I had taken the time to build strong relationships with the 2 people who were willing to connect me, they were in my highly credible network and I was in theirs, so they did not hesitate to make the connection for me.   By the way, the 2 people who were able to connect me, theirs were not the biggest.

Ok, we know that the economy has gone south, credit is practically unavailable, businesses are drawing their spending back and so is the consumer, so what are you going to do as a business owner or sales manager to make sure that your business is not one of those that will be gone tomorrow?

The two places that most business want to cut back are not the wisest choices:

Training - A successful sales team or business owner stays involved with continuous training, keeping their prospecting, and sales skills sharp. This is the one place that the small business owner pinches their pennies, finding no value in quality training. It is important to keep new material in front of both the business owner and the sales teams.  Now is not the time to stop learning more about how to be a more effective sales person, how to implement referral systems that will generate higher referred prospects and how to close more deals.

Memberships -  Business Owners and Sales Managers alike begin to pull back on the networking groups and organizations where their teams have been spending time. A better result would be to diversify the organizations and make sure that you and your team are spending time in the right places with the right people and measure their results. 

After completing our course many of our clients are amazed at how much time they have invested in  networking activities that are not productive or effective.  If you and your people are out there networking then it is impotant that they be trained to do more than create visibility.  They must be able to effectively leverage their networks that become profitable for both parties.

Now is not the time to pull back, now is the time to become more strategic and more effective. 

As seen on the TheMomEntrepreneur, a great site for information regarding working mothers, raising kids, and running your own business.

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This post is one in a series of three about the phenomenon we call Twitter. Many people in The Mom Entrepreneur Support Group I run, and clients, have been asking about this form of micro-blogging. What is it? Why should I care? How do I use it? My goal is to answer these questions and more.

“New to Twitter - not quite sure how this works but I am sure I can figure it out. Love this social networking stuff.”

“I am here, now what?”

Start by posting some practice tweets, which are limited to 140 characters. My second tweet was:

“Working on my blogging clinic, which will be offered for four sessions in April in Barrington, NH.”

When the blogging clinic write up was ready on my website, I tweeted again about it and included a link to the page on my site. Now remember, you are limited to 140 characters. This can easily be used up with one URL; especially a blog URL. Visit http://www.tinyurl.com/ and turn your long URL into a short URL. You can even customize your URL so it is easy to remember.

Trust.

A big word when you’re dealing with a small business.

So, how do you trust a small business that provides a service?

Here are some of my tips:

1. Communicate. Whether it’s through email or phone conversations, you need to communicate. Discover through these communications if your styles/personalities mesh.
2. Research. Do your homework and research the background of the business and the owner. Learn if the company and owner are qualified to provide the service(s) you’re requiring.
3. Testimonials. See if the testimonials that the company provides are factual. If you’re on a web site or social network group, follow the link provided. Request phone numbers to contact past clients if testimonials are not provided or get the customer base from the company.
4. Organizations and Affiliations. See if the company is associated with any organizations and affiliations. If they are, check them out.
5. Credentials. Investigate the credentials thoroughly. Is the business certified properly to provide the services they are offering and at what level?
6. Insurance and License. Make sure the business is licensed and insured. This is to make sure that your business is covered.

These are just some tips to help you trust a small business that is service based. You can trust them if they pass the test.

Does that mean you will be happy with the service they provide to you? No, but maybe you will be. There are never any guarantees.

If you follow my tips, you can be sure that you can trust the small business.

This blog post has been graciously submitted to BizzyWomen by Colleen M. Johnson.  She is the owner of CMJ Office, a virtual administrative and genealogical research business.   CMJ Office provides top quality virtual administrative assistance for business owners and individuals.

She offers many services including proofreading, blogging, MS Office applications, admin support, database maintenance, mail services, internet research, and genealogy research.  She holds several memberships including VACOC, IVAA, VANetworking, NEHGS, and DCWW.  If you need assistance, please contact her or view her website information at http://www.cmjoffice.com.

This is a Question that I got on Linkedin, I thought it was very appropriate for this blog.

 In my coaching practice, clients (especially new entrepreneurs) often tell me they don’t want to nail down a specific target market because “everyone is a potential client” and/or they feel like they are missing out on business opportunities in other markets.

Have you nailed down one target market? If so, how did you go about making your choice? Did your target market choose you? How long after starting your business did it take for you to choose your target market?    Do you target more than one market? How do you balance your marketing?  Do you even believe that choosing a target market is essential to your marketing success? If not, please tell us why.

This is one of the toughest questions that I tackle with my students in the Referral Dynamics Program.  Generally business people think with a scarcity mindset, always afraid that they are going to miss out on some business regardless of the quality of the business.

For instance if I am an Insurance agent who writes insurance on anyone who has a business, then I am always running around trying to find anyone!  From the small one person business who has very little money to the multi-million dollar business.  It’s like shooting in the air and hoping that a bird will fly over.

On the other hand if I am the insurance agent who is an expert in working with Attorney Firms who have one or more partners in the Central Indiana area, I know exactly where to spend my time and my money marketing.  IF a CPA Firm calls my office and ask me to write a policy for them would I say NO?  Heck no, I would do business with them.

Declaring a target market does not mean that you cannot or may not do business with anyone else, it just means that you will have a target to aim your message to and spend your money on.  When the time comes to recruit Referral Partners they will be easy to find and easy to train.

It allows you to develop yourself as an expert so that your target market seeks you out instead of you searching for them.  It allows your customers to create a buzz about you!  Take a moment and ask yourself the following questions……..

1.  Who do I like to work with?

2.  What makes me the most money?

3.  What market do you have the greatest experiece in?

4.  Is there a market less served?

Building yourself a strong target market will allow you to work less and make more money!

We all remember how on Seinfeld, George would break up with a lady and use the ‘it’s not you, it’s me’ line. While that was funny on a sitcom, in real life no one appreciates rejection. Whether it’s from dating, job hunting or a relationship with a friend, no one enjoys rejection. Here are 4tips on dealing with rejection that will end up making you stronger.

Fruitfultime wants you to look at the future. “But instead of concentrating on how bad it feels when someone rejects you think of new possibilities, new doors that will open soon. The new opportunities might be better than what you have aimed before. Having such a mindset helps you handle rejection and keep on going in life.”

Pickthebrain has a list of ways to deal with rejection. The site says that there are a lot of people in the world and rejection is inevitable. ” There are six billion people on this earth. We are all beautiful, unique and different. There are times we are in demand and times we may get rejected. Knowing that rejection is an emotion that many people go through is a reality check! So get over your victim mentality and move on!”

Sometimes, if you handle the rejection well, you may just get rewarded. Lealea’s BlogBlog has a great story of someone passed over for a job, and a few months later received another offer from the company that rejected her in the first place. ” In fact, she revealed that she applied for the same job a few months previous but she was passed over for someone else. Even though she didn’t get that job, she wrote a personal thank-you note to the people involved for considering her and even personally arrived at the office to give them some cookies. The person at reception thought she actually got the job because she was being so nice, when the opposite was true. She was gracious through and through.

… and a few months later, when a contract position opened up in this place, she was immediately called back and subsequently hired. They didn’t have to waste money or time interviewing her all over again — they knew who she was. She didn’t let them forget her because when the first opportunity passed her by, she didn’t hold any grudges and was also very clever in leaving a great impression. ”

That’s awesome.

Dramaquill says that rejection doesn’t necessarily mean that you are a bad person. “ Rejection isn’t a reason to give up. If you get personal comments from an editor, read them and really evaluate if what they say can help you improve the piece before you send it out again.  And rejoice in the fact that the editor took the time to actually comment - that’s a good sign.

Keep your chin up. We all get rejected at one time or another, but pick yourself right back up and get out there and I’m sure that something good will come your way.

It goes without saying that a major element in growing your business is buy generating referrals. Let’s take a quick look at a few tips that may help you gain the much sought after referral.

Over at the Networkingstrategist blog, Hazel Walker, says that you need to ‘thank or reward’ someone who is an advocate for you. She says, ” If you find you have one person who is acting as your advocate you will want to find ways to thank or reward that person.”

Making sure that the referrals that you get are of high quality is a tip from the Salesandmanagement blog. Paul McCord writes, ” You can easily double or triple the number of high quality referrals you receive through careful listening and observation.  Every client you have knows people and companies you would like to be referred to.  Unfortunately, clients often forget about those potential referrals.  Your job is to help your client make quality referrals—the easier you make it for your client to give you quality referrals, the more referrals you’ll receive.”

The age old question regarding referrals is whether you need to pay for them or not. Sparkplugging has an interview with best selling author Jill Lublin. He asks her about compensation for referrals and while she doesn’t take a position on compensation she does add some keen insight. ” If your business is going to involve referrals, clarify whether money or other compensation will be exchanged. Few things can destroy a relationship faster than misunderstandings and bruised feelings relating to referral fees. Specifically ask your referral partners if they are willing to give and expect to receive referral fees. If referral fees will be paid, clarify the amounts and how and when they will be paid.  It isn’t always necessary to compensate someone for referring business to you, but you should clarify the arrangement up front.”

It’s not easy but getting good referrals can be the key to growing your business.

I’ve been living la freelancing vida loca lately and enjoying the grind quite a bit. Between web copywriting gigs and generating entrepreneurship content, I’ve kept myself busy enough to feel productively sane.

I’ve also benefited from a bit of “trialing.” It’s a term endeared to consultants and employers who’ve taken on enough stringers in their lifetime to know that there’s such a thing as over-promising on a relationship that might not work out.

The same concept applies to us lowly stringers on the opposite end coming from a place where I’ve signed on to work for/with someone only to realize a few weeks into it, that it just wasn’t meant to be.

I liken trialing to boot camp for contractors. It’s like getting a scholarship to go to school and having your education paid for by a benefactor. In this case, it happens to be a potential employer and the trade-off is a week or two of intensely hard work and crunch time which either leads to landing the gig or getting your stomach punched in - figuratively.

So having been put through some trialing recently with some new clients I engaged through virtually networking my little tush off, I’ve come to realize the benefits of trialing far outweigh the cons.

• Commitment-free means fewer facial lines: Being a successful freelancer demands you try your hand at many different jobs before you can pick the ones that are right for you. This also translates to having the time available to do this which means before you commit, do yourself a favor and walk the walk. You’ll be less stressed out for it!
• Choosy freelancers choose the best gigs: Don’t be afraid to turn down something you don’t really want to do. If you can swing it financially and have enough on the backburner (even if it’s on a low flame), then respectfully decline the project, but don’t burn the contact. Your contact will respect that you were self-aware enough of your enthusiasm (or lack thereof) to let this project go, not to mention considerate enough to be upfront with them.
• Juggle freely but don’t lose focus: Be mindful of learning curves while trialing. Most of the time what on average might take you half the time once you’ve mastered the rhythm of a particular project and aren’t reinventing the wheel each time, will take you double or 3X the time in the beginning. Be patient with yourself and factor in the excess time when taking on a lot of trial gigs at once.
• Flat rates work best: I remember feeling so guilty when I charged a client an hourly rate for my first assignment and it took me twice the time it should have. I felt pressured to get it done faster so as not to charge too high while trying to put my best foot forward and make a good impression so I could land more work. Recently, when a new client approached me and suggested a flat rate for copy for the first two sites she commissioned me to work on, I was able to to take my precious time and make sure that I got the copy down pat before sending it off to the “printer.”