Starting: Accidental Entrepreneur Plan B

Overcome Adversity with a Back-up Plan

In this land of opportunity, there is sometimes adversity.

What’s the solution? Plan B.

If you are ready to start-up a business until you find another job or take on a few freelance assignments while looking for a job–plan ahead.

Plan B can work for you. First, surround yourself with great people. Colleagues who believe in you and who can encourage your success. Your network of contacts who can be potential referral sources. And, mentors to guide you on successful first steps.

Plan B Quick Start

1. Decide up front is this a short term path or long-term future.
2. Form a business, even a sole proprietorship. It helps when managing your taxes.
3. On one page define your business vision, sales goal, net earnings (income for you after expenses) and how you are going to secure those sales.
4. Meet with a mentor to review your plan. Identify expenses and set sales targets. Get feedback. Ask questions to help you hone your plan.

Resources for a Start-up

Free Tools to Accelerate Success
Quiz: Be Your Own Boss

Talk over your idea. Think about your business direction. Map out a plan of action. Get advice, feedback and support Get a SCORE mentor.

Christine Banning, SCORE
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Marketing: Retail Marketing to the Impulse

Are You Marketing to the Cost Conscious Consumers?

One of my favorite retailing gurus Pam Danziger said in one of her books, it’s all about “shops that pop.”  Right now, you have an opportunity to appeal to the consumer.

This weekend, I saw mass market chains with large areas of empty floor space, uninspired accessory selections and store windows that really are the blah in blase’.

For the small business retailer, this is a gift. Act now to market to impulse purchases, foot traffic and the flair your shop windows. If the major market retailers lack inspiration right now, you have an edge.

Create a shop that pops. You can visit Pam’s site to get her free newsletter about marketing to the affluent customer. Every consumer is reacting to this recession. Now, it’s your turn to counteract the blues and attract some green to your store.

Some added retail resources:

Quiz: Do Your Customers Return?
How to: 12 Ways to Improve Retail Sales
Sales Team: 5 Ways to Motivate Your Sales Staff

Take some time this month to plan your store windows, displays and impulse purchase plan. You can meet with a mentor to look at mobilizing your sales team to make the most of retail foot traffic.

Christine Banning, SCORE
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Leadership: The Power of an Active Network

Do You Ask Your Network for Help?

Networking. Conjures images of business card exchanges. But, what’s really powerful is building bridges. Then, asking your network, “would you help me with…” When your network answers with a resounding yes, then you are well-connected.

I don’t have the source, but love this quote, “It’s not Who You Know. It’s who knows you.” Your network knows you and your business. You have trust. You can ask and it will yield advice, introductions and sometimes sales.

This week, I will be traveling to Dallas to speak at the eWomen Network Conference. Thousands of women entrepreneurs will be there to listen, learn and network. A team of SCORE mentors will be hosting two sessions for mentoring on everything from start-up tips, to cash for business to search engine optimization. The power of building networks in action.

Can’t attend the conference? Try these resources:

Download PDF: Making the Most of Your Network
SCORE Mentoring: Free, Confidential Online or In Person
Quiz: How Well Do You Network?

Christine Banning, SCORE
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Success: Peer Groups for Small Business

Connecting to Peer Networks

U.S. Chamber of Commerce

National Black Chamber of Commerce

U.S. Hispanic Chamber of Commerce

U.S. Women’s Chamber of Commerce

eWomen Network, Women’s Leadership Exchange and
National Association of Women Business Owners

What groups would you like to add? Share a comment.

Christine Banning, SCORE
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Managing: Disaster Prep for Hurricane Season

Put Plans in Place to Protect Your Business

Resources for your business:

• How to Avoid Disaster.
• 60-Second Guide to Disaster Recovery.
• Disaster Assistance & Resources at SCORE.
• DisasterAssistance.gov .
   

Free Events: “For the Good of Your Business.” Learn more.
Hosted by SCORE and HP.

Christine Banning, SCORE
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Marketing: Active Listening for Entrepreneurs

Listen First for Understanding

“Seek first to understand, then to be understood,” Steven Covey, Seven Habits of Highly Successful People.

Fully 75 percent of people are extroverts, according to the Myers Briggs Type Indicator. It means most of us are more likely to talk than listen.

As an entrepreneur, your ability to listen to clients, advice, the marketplace and trends all help you make good decisions. Here are some ways to listen and build success:

What is active listening? Learn more.
Learn through listening. Advisory board article.
Making the sale. Eight tips by Rieva Lesonsky.
Getting a mentor on your team. Ask SCORE online.

Share your comments. We’re listening to you.

Christine Banning, SCORE
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Marketing: Finding Your Voice on LinkedIn

Be Positive. Be Yourself.

LinkedIn has more than 40 million users in 170 industries.

If this is new to you, here’s the quick version. LinkedIn is an online, social network primarily for business.

Visit, www.linkedin.com. Create a profile with your name, picture and info about your career background. Then, you can send invididual email invites or load in your email contact list to be part of your online network.

This gives you a way to assemble close and acquaintance business connections in your own online, address book. Very basic. Now here is the beauty of it.

Improve Your Google Search Results: When you set up your profile, you can create a custom URL that has your first and last name. This will show up in Google results after about 48 hours and helps clients find you online.

Share Your News. You can post a sentence update about yourself, your business, an event that your connections see. You can share valuable info with contacts, without multiple emails. Just a simple weekly update.

Ask Questions/Answer Questions. You can learn from the 40 million users by asking your questions. You get many answers and can choose what helps you the most. SCORE mentors are online and often answer small biz questions.

Get Recommendations. You can send individual messages to your contacts asking for a reference. These testimonials are powerful on LinkedIn. This is a way to show that you and your business are excellent.

Be courteous. If you want to reach out to someone with a business idea, send an InMail message via LinkedIn. Many folks use a personal address with their profile, send personal messages not pitches to that address.

You will find a SCORE group online. Search groups and join us. 
It’s free. Sign up for LinkedIn.

Christine Banning, SCORE
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Managing: Lifelong Learning and Business Advice

The More You Give. The More You Get.

This is the advice a SCORE volunteer shared with me. Every time you volunteer–you learn, grow, connect and share success.

People often ask why do successful entrepreneurs and big-time corporate execs. volunteer as SCORE mentors for you. Here’s why: “I can help entrepreneurs reduce risk and increase their chances for success.”

“I learn as much from my clients as I share with them. It’s energizing to exchange ideas with the innovators in America.”

“To gather the knowledge of all SCORE experts and find the right tools, information and advice to help small businesses is a bit like putting together a puzzle. It’s fun.”

“Together, entrepreneurs and volunteers are a unique part of this country. Where else would you find volunteers who give free and confidential advice, simply because they want to see you succeed. That’s inspring.”

Want to learn more about volunteering? Learn more.
Ready to get advice from a SCORE mentor? Ask SCORE online.
Prefer to talk to a mentor in person? Find SCORE near you.

 How has a SCORE mentor helped you? Share your story.

Christine Banning, SCORE
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Women Advisors: Mentoring Networks

 Power Up Success with a Board of Advisors

How to Form an Advisory Board.

Worksheet for planning an advisory board. Scroll down page and look for Advisory Board download.

Social Betty succeeds with help from a mentor.

Christine Banning, SCORE
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Marketing: Small Business Trends and Stats

Knowledge is Power. What Do You Know About the Power of Small Business?

Economists are saying we are turning the corner on the recession. That’s good news. Now, how can you learn from the reactions of other entrepreneurs over the past six months?

See what entrepreneurs think about the economy in NFIB polls. Try the Small Business Research Board. These can help you gauge small biz sentiment. Think about how it fits with what you see locally.

Small Business trends affect you. The U.S. Chamber of Commerce covers a wide range of issues and may offer some current info and insights helpful to your business.

Yes, census data is dry information. But, it you are trying to see the concentration of business by industry to decide where you should locate this may help. A SCORE mentor can talk with you about how to apply census data to your own market planning. Meet a mentor in person. Find SCORE near you.

Small Business Fact Sheet
Accelerate Your Success with SCORE

Christine Banning, SCORE
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