Expert Interview- Laura Bennett

1.     What is the biggest area that most small business owners can improve on?

I’m not sure I know the right answer to this question but if I had to pick one area, I’d say most small business owners do not make good use of the use of the internet to benefit their business. I can’t believe how many small businesses still don’t have an effective website as part of their public business profile – even B2B companies need a good website - in B2B, you aren’t doing business with companies, you are doing business with people in those companies and they research potential partners online just like someone would buying a car or a cell phone.

On the other hand, a good website is much harder to build than most people realize, requiring a designer who thinks like a potential customer, not a tech geek. This is one area where you should really do your homework – using your neighbor’s daughter because she is pretty nifty with the internet isn’t likely to get you good business results. Use common sense and make a careful choice of a web design firm. If you do not know what makes a great website, research it online. Blogs on the topic are very helpful in this regard (here’s a great source to start with http://web-design.alltop.com/) and look a lot of websites, working out what makes them work for that business - or not. And be sure to pick a design firm that has built successful websites for businesses similar to your own – different businesses have different needs. Picking the right web design firm is worth the effort and will pay big dividends if you do it right. 

2.     What is the equation of a successful business?

Take a good idea, fortify with technical expertise, add a bucket load of persistence, cover with thick skin, and let it ferment for three times as long as you think it should! Seriously, it’s doing a thousand little things right, which requires a lot of long hours, often doing things you’d rather not be doing, an incredible amount of persistence, and a practical focus on cash flow. In summary, blood, sweat, tears and cash - it’s not sexy, believe me!

3.     How is the pet business doing with this tough economy?

The pet business is holding up much better than other businesses but it has still been hit by the tough times. 60% of pet spending is by people with no children so the pet economy is driven by people who see their pets as core members of the family. They are still buying the same pet food, still going to the groomers (although maybe not as frequently as in 2008) and they are still sending their pets to daycare while they work (assuming they still have the job of course) so the core products and services have not dropped off too much. On the other hand, luxuries such as designer dog clothing are struggling; people are focusing more on value than status.

Pet insurance is still growing nicely over 2008 but definitely less than it would have been had we been in better times. The market is so underserved at the moment (less than 1% of cats and dogs are insured in the US, versus 25% in the UK), it continues to grow as awareness of the benefits of pet insurance grows – and of course, pet insurance is a great way to reduce your family’s financial risk.

4.     How can a business owner use networking to build his/her business?

Whatever you do for networking, you should focus on giving, giving, giving. If you help others, they get to know you, trust you, and see you in action, and there’s nothing better than doing business with people you feel very comfortable with. As for how to network, the ways are endless and it depends on the kind of business you have. Personally, I mostly network online as I have 2 small children, a growing business to run, and very little spare time for in-person networking. I also have a national business so the internet is perfect for reaching out beyond Cleveland. I’m an active user of LinkedIn (I just hired an intern locally through a connection), Facebook, and Twitter (@laurabennett). Not only can you reach out to potential customers and partners but you can listen to and observe your customers and partners in their own environment – that’s priceless.

How do you become a great problem solver?

      By listening well, quickly reviewing all angles, and then making a decision quickly. And of course, practice, practice, practice. The trick is to realize there likely isn’t a right answer and you aren’t going to have perfect information - once you know that, it really frees you up to get on with the decision and move on.

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Rewards and Recognitions to Motivate Employees
by Patricia Weber  

Knee deep in the challenge of leadership today, business owners and managers, can parlay the changing role of work to create and sustain an environment that helps motivate and keep employees. There's no one right answer, there is no magic wand and don't try to mind read how to motivate someone.

Lesson: If you think money is the answer, think again because it is not! The truth to this is in research as recent as 2006.

A straight and fast way to influence employee performance to use both the P in aptitude and the T in attitude is with the effectiveness of your rewards and recognitions.

Money is proven over and over again in research to be a short term motivator. You want to be creative with your approach. And for certain, the most effective route is in the little things: do you treat people fairly with pay and benefits? Do you stop and catch people doing the "right" thing? Do you do on the spot coaching to help someone improve their performance? For that employee who wants to move ahead, do you offer training or coaching to higher levels of productivity? Do you say, "Thank you," when it's least expected? The old cliché expression, "you get what you reward," has volumes of application to your being able to create the environment to motivate employees.

One thing certain: if you ask employees what they want, and you listen, you will learn either what to give them or figure out a way for them to earn it. It's not necessary to hand them keys to a new car or a membership in a country club. What you do have to do with your rewards and recognition process is satisfy human needs: security, meaningful work and supportive relationships.

The article Motivating Employees in the Workplace, gives you a birds eye view of the four key factors to create a motivating environment for employees.

Patricia Weber may be contacted at http://www.patricia-weber.com pweber@prostrategies.com. Click here to view more of their articles.
And sidestep your sales performance anxieties, overcome your fear of rejection and demolish your devastating doubts to become a top sales pro using the secrets revealed in these FREE reports at Sales Tips for Introverts
Patricia Weber, 20 years sales training and business coach helps introverts, shy and even reluctant to sell extroverts who want to accelerate their sales results!

Small Business Resources - Top 10 Ways to Increasing Productivity and Better Time Management
by Michele Hanson-O'Reggio 

Are you struggling in the effort to make your small business successful? Does it feel like you are working harder and you still don't see the results you desire? Or maybe you want to grow your business to the next level of success. Let's take a look at some small business resources to help you by increasing productivity and exercising better time management.

Increasing Productivity & Resources for Entrepreneurs

1. Team Building-Build your virtual support team Have you ever heard of the 80/20 rule? In business, 20% of your business activities yield 80% of the results. You need to determine which tasks are in your top 20%, and eliminate and/or delegate the rest as a means of increasing productivity and experiencing better time management. Unfortunately, many small businesses fail or don't grow to the next level because they don't take advantage of small business resources like team building . An excellent way to get started is to work with a Virtual Assistant.

2. Cultivate marketing relationships Recruiting affiliates is one of the resources for entrepreneurs to increasing productivity and better time management. Affiliates spend their time promoting your products or services in exchange for a commission on the sale. In addition, find other entrepreneurs with complementary businesses and collaborate on services or developing new products. You get more breakthroughs and unique perspectives when you are not working on business development alone.

3. Leverage systems Any business can be broken down into two parts: Vision (what do you want) & Systems (how will you get it). Entrepreneurs are usually challenged by the "How will you get it" part and skip this crucial step. Increasing productivity by systemizing your business is one of the critical resources for entrepreneurs. Systems will save you time, reduce errors, simplify tasks, enhance communication, keep you organized and help remember important things to get done.

4. Use the Law of Attraction Learn how to create, intentionally and effortlessly, a joyful life, unlimited happiness, love, health and prosperity. You can apply this Law to attract more of what want in your business and less of what you do not want.

5. Hire a Business Coach or Productivity Expert A business coach or increasing productivity expert are tremendous resources for entrepreneurs. These professionals will help you make things happen, develop steps to help you reach your goals, and provide you with the necessary support and structure you need to utilize better time management and realize your business goals.

6. Business Strategic Planning Increasing productivity means becoming an expert at business strategic planning. Big businesses making mistakes can usually survive. But, the small business has little room for error. Conversely, when opportunities arise you will be able to take action and be proactive, instead of reactive, because you have a strategic plan.

Better Time Management You may have discovered many resources for entrepreneurs and several ways of increasing productivity, but unless you know the key to better time management, you will not achieve the level of success you desire. You only have so many hours in a day; so, focus on specific areas consuming your time:

7. Know your high revenue generating activities These activities provide valuable payoff in the long run. They are based on your priorities, values and goals, and are the activities you love doing and do best. In turn, the tasks create immense value for your clients.

8. Manage the unexpected Unexpected or unwanted events occur that demand your time and energy. Practicing better time management means taking care of disruptions by scheduling time in your day for the unexpected. Give yourself a window of opportunity to face ‘surprise' issues, and be open-minded about accepting support when needed.

9. Ruthless time management Practicing better time management means being ruthless with what you spend your time on and how you spend it. You need to set boundaries; identify the time wasters throughout your workday; schedule blocks of time to work on tasks; make and keep appointments; only do the tasks directly related to your small business goals and spend your time only on what you love and do best.

Ultimately, your goal should be to create work-life balance to ensure you are spending your time and efforts increasing productivity in a way so that you can take time off to rejuvenate and recharge your batteries without compromising your success. Creating a calendar of your ideal workweek is an excellent way to do this.

10. Slow down to move ahead faster Take the time needed, by slowing down, to evaluate your options and create a plan for your business goals and lifestyle. Then, design your business accordingly. Not only will this result in increasing productivity, but it is the epitome of better time management.

Now you know how to use small business resources, for increasing productivity, and key aspects of better time management. I guarantee that if you put this information into practice, you will work smarter, not harder and achieve greater success!

Copyright 2009, Michele Hanson-O'Reggio. All rights reserved.

Michele Hanson-O'Reggio may be contacted at http://www.bizsuccesspartner.com micheleh@bizsuccesspartner.com. Click here to view more of their articles.
Outsourcing and Productivity Expert Michele O’Reggio, teaches entrepreneurs and service professionals how to take their business to the next level of growth without working more hours to create their dream lifestyle. Learn how YOU can get increase your profits, build a dynamic support team, systemize your business and achieve work-life balance with a calendar of your ideal workweek. Claim your FREE Work Smarter to Grow Your Biz package at: http://www.BizSuccessPartner.com

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