Saturday, December 26, 2009

Preparing your small business for your vacation

Want to skip town so you can go home and visit with some family? Maybe you’re feeling a little burned out and need to get away from it all? Whatever the case, burgeoning entrepreneurs are just as entitled to vacation times as their counterparts who receive biweekly paycheques. However, small business owners have to make some more complex preparations ahead of time.

I’m speaking from my perspective as a freelance writer, though the same concepts should apply to other entrepreneurial professionals as well. This also goes with the assumption that you are largely a one-person operation, but adjustments can be made for slightly bigger companies too.

First, it is important to plan ahead if you are going to take more than a couple of days off. Keep project deadlines in mind so that you leave little, if anything, “on the table” while you are away. You don’t want to have that looming deadline in the back of your head as you try to relax with an umbrella drink on the beach. It’s fine to line up more work for when you return, but try to minimize any work that straddles on both sides of your holiday time.

Second, ensure that proper preparations are in place for the receipt of any letters or parcels that you may be expecting in the mail. See to it that there is someone there to receive them on your behalf. Better still, make use of a mail service, like the one offered by the Network Hub, to handle your shipping and receiving needs in your absence.

Third, you may want to inform your existing clients of your intentions. It would leave a bad impression if a client assumed that you were in the office, sending you an urgent email or giving you a call, only to feel that he or she is being ignored. A simple and straightforward “out of office” auto-reply message may be in order.

Coming back from your vacation, you can feel re-energized and more motivated than ever to get back on the job. You deserve some relaxation time.

About the author: http://michaelkwan.com" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-decoration: underline; color: rgb(38, 62, 84);" target="_blank">Michael Kwan is a professional freelance writer based out of Vancouver, Canada. He can be found blogging at http://btr.michaelkwan.com" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-decoration: underline; color: rgb(38, 62, 84);" target="_blank">Beyond the Rhetoric.

Posted via email from Virtual Assistants

Sunday, December 20, 2009

The easiest way to get client referrals

While it is certainly valuable to invest in other marketing techniques, one of the greatest sources for new customers and clients is through referrals. This word-of-mouth advertising is particularly impressive because it doesn’t have to cost you a penny, quite unlike the promotional tactics that you may employ in a local newspaper or in online advertising.

The challenge, of course, is finding the most effective of way of acquiring new client referrals. How do you convince other people to send new customers your way? Well, there is one strategy that is remarkably simple but is also very effective: just ask.

You’d be amazed by how well this works. Each time that you can complete a project with a new client, be sure to thank them for their business, but don’t be afraid to ask them if they know anyone else who may be interested in your services. If your new client had a positive experience with you, they should have no problem recommending you to their business associates.

The key is to be helpful, but not pushy. If the new client feels obligated to send more business your way, they probably will put you in an unfavorable light and thus lower your chances of getting another new client through a referral.

Don’t stop at just getting new referrals through your clients either. It is very well possible to use a “suggestive sell” on your existing clients. For example, let’s say that a freelance writer like me just finished writing an instructional manual for a new product. From there, the same freelance writer can offer to write the press release to announce the product.

You’ll never know what you can get unless you ask for it.

About the author: http://michaelkwan.com" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-decoration: underline; color: rgb(38, 62, 84);" target="_blank">Michael Kwan is a professional freelance writer based out of Vancouver, Canada. He can be found blogging at http://btr.michaelkwan.com" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-decoration: underline; color: rgb(38, 62, 84);" target="_blank">Beyond the Rhetoric.

Posted via email from Virtual Assistants

The infrastructure needed for a home business

There is a definite appeal to working from home. It means that you don’t have to fight rush hour traffic or put on your fancy three-piece suit, since the commute to the home office is a short and casual one. However, working at home is not without its shortcomings. For instance, it means that you’ll need to invest in the right infrastructure to have a functional home office.

Naturally, the infrastructure required for your home office will depend on your chosen industry, your specific role, and your own personal preferences and needs. There are a few items that are common for most work-from-home professionals and their costs must be considered before taking the leap into having a full home office.

At the very least, you need a reliable computer that is not shared with anyone else in the home. Whether you opt for a laptop or a desktop, a PC or a Mac, is completely up to you, but this computer must not be shared with other family members. The last thing you want is to be contacted by a client only to see your significant other playing World of Warcraft on your sole computer. It may be worthwhile to visit a coworking space at times to avoid these situations and distractions.

To go along with your computer, you will also need a reliable Internet connection. If the nature of your business requires greater bandwidth and faster speeds, investing in a faster Internet connection is a worthwhile expense. This not only includes the price of the service, but also the suitable modem and router to accommodate the added speed.

Other equipment may include a suitable printer, copier, scanner, and fax machine. This can be best achieved with a multifunction printer of some kind. Depending on your business, you may or may not need a dedicated landline telephone. Some home-based businesses rely solely on mobile phones or VoIP (like Skype). All of these needs can be met with shared office space, since the organization providing the coworking space will maintain this equipment for everyone.

The infrastructure can easily extend well beyond basic hardware too. Entrepreneurs are well-advised to invest in software for accounting, customer relationship management (CRM), tax reporting, and more. Don’t forget about the design and printing of business cards, company letterhead, and other related stationery products too, as well as accounts with shipping companies and other specialized services. Investing in a mail and fax service can be worthwhile, since someone else can receive deliveries on your behalf if you are absent.

There’s more to a home office than throwing an old desk in a spare bedroom. The infrastructure can be just as complex and robust as a conventional downtown office.

About the author: http://michaelkwan.com" target="_blank">Michael Kwan is a professional freelance writer based out of Vancouver, Canada. He can be found blogging at http://btr.michaelkwan.com" target="_blank">Beyond the Rhetoric.

Posted via email from Virtual Assistants

Tuesday, December 15, 2009

The Britney Spears approach to small business

Well, we probably can’t give all the credit back to Miss Spears, but there are several lessons that small business owners can learn from Britney’s career. Entrepreneurs may more typically look up to people like Ted Turner, Donald Trump, and Steve Jobs, but there is still inspiration to be gained from looking at the success of pop stars too. Britney epitomizes this sentiment.

Never Down for the Count

Most of us probably remember Britney’s breakdown a few years back. She got into a bad relationship, shaved her head, and found more press in the tabloids than from the Billboard rankings.

However, with some good guidance and direction from her father, Britney has been able to get herself back on track and she has regained much of the success that she had lost. She’s rocketed back to the top of the charts, gone on tour to promote her new album, and she seems to be much more “together” than she has been.

In business, you’re going to get knocked down. Sometimes, it’ll be your fault and other times, it won’t. The key is having the ability to get back up time and time again.

Stick to What You Do Best

When coming up with a “comeback” for her career, Britney Spears (and her father) did not try to reinvent herself. She didn’t suddenly try to dabble too heavily in country, hip hop, or whatever was the current flavour of the day.

She’s a pop artist who sings “catchy” radio-friendly tunes. It was with this exact same genre that she managed to come back into the limelight. People didn’t want a “new” Britney; they wanted a more grown-up version of the “old” Britney (and it worked).

At the same time, she was able to capitalize on new technologies like Twitter to improve her chances at a successful comeback. Small businesses need to grow with the times, but the core product must remain true to the brand.

About the author: http://michaelkwan.com" target="_blank">Michael Kwan is a professional freelance writer based out of Vancouver, Canada. He can be found blogging at http://btr.michaelkwan.com" target="_blank">Beyond the Rhetoric.

Posted via email from Virtual Assistants

What business owners can learn from Jay Leno

For years, David Letterman and Jay Leno battled for ratings and market share in the lucrative 11:35pm late night television spot. However, Jay Leno announced in 2004 that he would be leaving the Tonight Show, passing the reins to Conan O’Brien.

However, it wasn’t like Jay Leno was going to retire and disappear into the sunset. He wanted to get back on television and he got his wish with the new Jay Leno Show at the 10pm time slot. What can business owners learn from such a move?

Stick with What You Do Best

Perhaps one of the biggest lessons that can be derived from this story is the value of work ethic and tenacity. Rather than disappear, Jay Leno continued to seek out opportunities to grow and to get himself back on television.

He also had a good grasp on his strengths, knowing that he would be best suited as a talk show host and not as a sitcom personality or a traditional news anchor. In business, know what you do best and work to build that skill set into something exceptional.

Be Loyal to Those Loyal to You

It didn’t take long after the announcement of Jay Leno’s departure from the Tonight Show that rumors sprung up about Jay moving to another network. It was a very real possibility that Leno could launch a new late night talk show with ABC or FOX, for example.

He may have entertained such offers, but Jay decided to stick with NBC in the end. This was the network that built his career and he had a certain loyalty to it. In like manner, business owners should remember to return the loyalty that they receive from customers, associates, and business partners. You don’t need to step on toes to climb the ladder.

Know the Importance of Branding

Jay Leno knew that he had established himself as a brand and this was nearly twenty years in the making. This, more so that his actual comedic ability, determined his long-term success. Entrepreneurs and new business owners need to learn a similar lesson.

About the author: http://michaelkwan.com" target="_blank">Michael Kwan is a professional freelance writer based out of Vancouver, Canada. He can be found blogging at http://btr.michaelkwan.com" target="_blank">Beyond the Rhetoric.

Posted via email from Virtual Assistants

Wednesday, December 9, 2009

My experience with event marketing

In the last 2.5 years, I have managed and promoted a lot of events, but for this particular post I will speak about the Vancouver Entrepreneur Meetup.  I took over the role of organizer for http://www.meetup.com/vancouver-entrepreneurs-startup-vancouver-office-space/" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-decoration: underline; color: rgb(38, 62, 84);" target="_blank">Vancouver Entrepreneur Meetup in June 2006. At that time we had about 200+ members, today we have about 2000+ members.   Our mission for http://www.meetup.com/vancouver-entrepreneurs-startup-vancouver-office-space/" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-decoration: underline; color: rgb(38, 62, 84);" target="_blank">Vancouver Entrepreneur Meetup was the same as our mission for http://www.thenetworkhub.ca" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-decoration: underline; color: rgb(38, 62, 84);" target="_blank">The Network Hub – connect, create and collaborate.

When we first started, our first meetup (which took place in http://www.meetup.com/vancouver-entrepreneurs-startup-vancouver-office-space/calendar/5005808/" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-decoration: underline; color: rgb(38, 62, 84);" target="_blank">July 2006) consisted of about 14 people. It was a seminar format and we relocated at SFU Harbour Centre because our office was just a couple of days behind on finishing construction (for those doing some calculation in their head, yes, we did open before Workspace).   Our very first guest speaker was http://www.pamelachatry.com/" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-decoration: underline; color: rgb(38, 62, 84);" target="_blank">Pamela Chatry and, bless her for taking a chance on me, she trusted me enough to come and share her wisdom with the group.  Getting the word out about the group was difficult; people hesitate to promote a group that is so new that they have not made up their mind about how they feel about it yet.  We posted on http://vancouver.en.craigslist.ca/cal/" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-decoration: underline; color: rgb(38, 62, 84);" target="_blank">Craigslist community events and posted on a few local event websites but it was all very random.  We gained a few members but they just joined to see what’s going on, they didn’t engage or RSVP to attend the event. But the people who were coming regularly were strong believers and supporters of the Meetup.

I am referring to loyal, long-timer supporters of Vancouver Entrepreneur Meetup such as http://www.facebook.com/josh.ellwood" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-decoration: underline; color: rgb(38, 62, 84);" target="_blank">Josh, http://www.addcoach4u.com/" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-decoration: underline; color: rgb(38, 62, 84);" target="_blank">Pete , http://www.sohosalescoaching.com/" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-decoration: underline; color: rgb(38, 62, 84);" target="_blank">Tom, Efrain, and Arash.  They were the tipping point of the Vancouver Entrepreneur Meetup. They not only told their friends about it but they brought their friends.  Tools such as Craigslist, event websites and even Facebook group/event invites were just awareness tools; it was the people who were believers that made that extra push – from awareness to engagement.

We’ve tried many different things: tradeshows, posting online events, Craigslist, flyering, cross-promoting, building ambassadors. We put flyers in coffee shops, libraries, bars and cross-promoted with different entrepreneur clubs (this was our guerrilla marketing effort).  Do we use these tactics anymore?  Not as much, because Twitter, and now Facebook Fan Pages, do a better job assisting us.

Fast forward to this year, we had about 1800 members to start the year and we are now ending the year with about 2200 members.

What do we do today? We use Twitter and we cross promote with other organizations with similar interests.  Did we get lazier?  Yes! Have we gone outside? It’s not flyering weather. Jokes aside, Twitter works very much like flyering, as well as posting to online event websites, except that I can add the personal touch by directly connecting with persons of interest and inviting them to events.  Vice versa with organizations, I can personally tweet them about the upcoming events and invite them out.  But the #1 reason why we are able to sit back a bit more and why the Meetup was able to gain the membership we have up to date? The PEOPLE who are our ambassadors!

If you offer value to people and they deem it useful to their lives, they cannot help but talk about you.  Remember, don’t get lost in the tools.  Social media is not so different from ads in newspaper or television advertising: just because you are shown on TV or is retweeted it does NOT mean that you will gain an ambassador who will go out of their way to tell their friends, invite their friends and get their friends to engage with your event/product/service.

Once you gain an ambassador, do everything in your power to fulfill and exceed their expectations.  Rain or shine, Meetup will always take place on the third Thursday of every month (with exception of summer when networking in a room full of people can get too hot).  Every guest speaker is vetted, and once in a while, I like to mix things up to keep the event fresh such as Meetup of Meetups or a mini tradeshow.  Sometimes I make mistakes: the speaker isn’t as prepared or the topic isn’t as interesting, but that’s ok because my ambassadors will let their new friends know that next month will be even better.  These kind of conversations and support can hardly take place on a platform that only provides 140 characters nor can they be done with a “like” button.

I hope this helps you think about your social media/guerrilla marketing strategies. Feel free to ask me any questions you need using the comments below.  On a side note, follow us on http://www.twitter.com/thenetworkhub" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-decoration: underline; color: rgb(38, 62, 84);" target="_blank">Twitter and be a http://www.facebook.com/thenetworkhub" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-decoration: underline; color: rgb(38, 62, 84);" target="_blank">Facebook Fan if you are interested in great networking opportunities and interesting workshops geared for entrepreneurs and small businesses.

Posted via email from Virtual Assistants

Monday, December 7, 2009

Should you have set business hours

When you run a brick and mortar business like a coffee shop or a grocery store, it goes without saying that you likely have set business hours. These hours are typically posted on the door and customers know exactly when they can expect you to be available.

What happens, then, if your business is primarily online or you operate on a “by appointment only” basis? The assumption that many people seem to have about freelancers and other similar professionals is that they are always “on the clock” and, as such, they are always available to be contacted by current and prospective clients.

There are certainly both advantages and disadvantages to setting standard business hours for situations like this. By having set business hours, it is much easier to achieve a healthy life-work balance, because it is much easier to leave work at work and home at home. This balance can be further enhanced by renting office space outside the home, rather than working out of a spare bedroom. To some, set business hours can also help to legitimize your company.

On the flip side, doing away with conventional business hours can also have its perks. One of the more popular reasons why some people choose entrepreneurship in the first place is the ability to have a more flexible work schedule. Set business hours can feel restrictive by comparison.

Having a more open schedule may mean that you may have greater opportunities to capture a potential sale, both at 3am and 3pm. On the other hand, clients may expect near-instant email responses at any hour of the day and they may even call you during what you consider personal time. The lines blur considerably.

In the end, it is largely a personal decision whether or not you should have set business hours. The best way to find out would be to give both configurations a try, seeing which you favor more.

About the author: http://michaelkwan.com" target="_blank">Michael Kwan is a professional freelance writer based out of Vancouver, Canada. He can be found blogging at http://btr.michaelkwan.com" target="_blank">Beyond the Rhetoric.

Posted via email from Virtual Assistants

Tuesday, December 1, 2009

But will it make money


I was watching an episode of Dragons’ Den on CBC the other day when one of the venture capitalists brought up a seemingly obvious point that is oftentimes overlooked by entrepreneurs.

For those of you who are not as familiar with the show, Dragons’ Den allows entrepreneurs and small business owners to pitch their ideas to a number of investors. The hope is that the venture capitalists will be willing to invest in their companies for a percentage share of the company’s ownership. We see everything from iPod sleeves to barbecue sauces on this show.

In the episode that I saw, one of the entrepreneurs presented her idea for a dog fancier’s trade show and carnival. She said that she had already successfully hosted a number of these shows and that she was ready to take it to the next level. As it stood, the show had free admission, was small scale, and under-charged the advertising vendors like Purina and Iams.

The budding entrepreneur said that the next step would include larger indoor venues, charged admission rates, and an expansion of the concept with merchandise sales, among other ideas. The venture capitalists questioned the profitability of such a show, saying that while it may be popular with free admission, it is unproven as a money-making business.

It’s easy for entrepreneurs to lose sight of the end goal. They can get caught up in the enthusiasm of the idea without paying enough attention to whether or not the business can make money. Nowhere is this more prevalent than with web-based businesses. Twitter and Facebook are hugely popular, for example, but they’re far from being immensely profitable.

For your business to succeed, it needs more than just popularity; it needs to be economically sound and it needs to financially viable.

About the author: http://michaelkwan.com" target="_blank">Michael Kwan is a professional freelance writer based out of Vancouver, Canada. He can be found blogging at http://btr.michaelkwan.com" target="_blank">Beyond the Rhetoric.

Posted via email from Virtual Assistants

Monday, November 16, 2009

The importance of mentoring in a coworking space

While many people may think that coworking is merely working on your own projects while sitting around other entrepreneurs and sharing a workspace, there are many additional benefits to coworking. In previous posts I have mused about the importance of sharing library resources, and even having a coffee break and hanging out with other entrepreneurs at the office.

Depending on the type of coworking space you have, you may or may not have mentorship activities built within. In the case of The Network Hub, entrepreneurs not only have a shared space and the resources to build their business (wireless, physical mailbox, etc.) They can also benefit from mentorship activities.

My own experience as a coworker at The Network Hub has been strongly enhanced by the fact that I have regular meetings with Minna Van, one of the co-owners of this coworking space. We meet about once a week, and we talk about our business. We discuss how things are going, in terms of how we use the time, particular challenges, and all the while, respecting the privacy and anonymity of our clients.

Having these mentoring meetings is definitely one of the best benefits of a launch pad like The Network Hub. While not every coworking space is modeled this way, even if the formal element of mentorship is not incorporated, it’s always good to have at least informal gatherings of entrepreneurs where they can share concerns, ideas, thoughts and challenges. It’s good to have a support group!

Dr. Raul Pacheco-Vega is a Vancouver-based researcher, educator and consultant in the environmental public policy field. He conducts research in water governance, urban sustainability, comparative environmental policy and economic geography. Dr. Pacheco-Vega’s consulting studio has a home at The Network Hub.

Posted via email from Virtual Assistants

Tuesday, November 10, 2009

Shared caffeine? Coworking and community building around coffee breaks

Caffeine is a great resource for anybody who needs to wake up in the morning and do work. Personally, I like my coffee strong, black, without cream nor sugar. And more importantly, I like having my coffee surrounded by people. I find that great ideas start to float in my head whenever I am having a coffee break.

But I always wondered if this could be a central element around which coworkers could grow community. A few weeks ago, I asked the members of the Coworking Google Groups whether they thought that having a shared coffee maker would help build community around a coffee break. I got a few responses back, everyone agreeing that it was a good idea.

The thing that really struck me was this thought from Alex Hillman, the co-founder of Indy Hall and widely respected as one of the early builders of the coworking movement. Alex replied to my email saying, amongst other things:

I wouldn’t dismiss the coffee pot (or a water cool) as a social/community building tool so quickly. Having community “places” within the office, no matter how small, provide a reason for someone to get up from their desk and bump into/converse with someone.

For a few months now, at The Network Hub, we’ve begun to share our coffee breaks as we now have a brand new, sleek and stylish coffee maker (espresso/drip) at the office. I named it “Monique” in honor of a dear friend of mine and a fellow entrepreneur, Monique Trottier. Monique Trottier is a wonderful, brilliant entrepreneur, who also has a fantastic sense of style. Since Monique (the coffee maker) is also sleek and beautiful, I thought the name was appropriate. And yes, I think that sharing coffee breaks has in a way helped continue growing the relationship between the community of entrepreneurs at The Network Hub.

Dr. Raul Pacheco-Vega is a Vancouver-based researcher, educator and consultant in the environmental public policy field. He conducts research in water governance, urban sustainability, comparative environmental policy and economic geography. Dr. Pacheco-Vega’s consulting studio has a home at The Network Hub.

Posted via email from Virtual Assistants

Sunday, October 25, 2009

Before you launch; things to consider before opening a business

For years I’ve worked with entrepreneurs as they go from bright idea to start-up business. Some people agonize over whether or not to launch. Others become reluctant entrepreneurs by inheriting a business or due to the sudden need for additional income. The decision to open a business can be complex both personally and professionally and for this reason the pre-start-up issues occupy a great deal of time in my introductory workshops. Start by asking yourself some questions. First, why are you starting this business? Is this an outgrowth of another career, do you have the “better mouse trap” the world is waiting for, or are you seeking a new stream of income?

Before opening a business there’s a lot of homework to be done. You need to thoroughly research your industry and your competition. After you launch is the wrong time to find out you don’t know who your target market is. Whether or not you plan to seek outside funding, your financial house should be in order as well. Your business plan should include a realistic view of projected cash flow and you need a good understanding of the responsible use of credit.

Do a personal assessment of your skills and talents. How are you going to fill in the gaps in your skill set? Most successful entrepreneurs have team around them to provide the specialized knowledge and abilities outside their core business talent. You will have to budget for and pay for some of these experts to do things like set-up your books or file your taxes. What’s your business model? Some businesses require you maintain an office, while others can be operated totally online. Are you looking at renting a storefront or will virtual office space be smarter? Location and communication methods are dependent upon knowing your market and how and where they shop.

The self-employed are some of the happiest people around. But like any major life decision you need to think carefully before taking the path of entrepreneurship. Consider how running a business will fit into your life and how you will pay bills during the start-up phase.

About the author: “Karen Southall Watts 

has been training and coaching entrepreneurs for over a decade. She teaches business courses for Bellingham Technical College.”

Posted via email from Virtual Assistants

The magic of word-of-mouth marketing

People are funny. No matter how smart or logical we consider ourselves we still prefer to buy products and services from those we feel we know and trust. This is true even if we “know” them by association only. This desire to do business with people we feel a connection to is the foundation of word-of-mouth marketing. A referral or recommendation is a powerful thing. When someone recommends a business to us we assume they have already vetted the business and it passed the test.

Once you understand how important word-of-mouth marketing can be you must beware of what I call the “angry customer rule”.  It turns out that customers who feel cheated or feel they received low quality goods or services are far more eager to talk about their experiences than satisfied customers. Call it human nature, but we just don’t seem to be able to resist sharing our bad business war stories with anyone and everyone who will listen. Getting happy customers to talk up your business is a bit more difficult, and we all know it. This is the reason a recommendation carries so much weight.  So what can you do to encourage customers to share their delight in your business?

  • Ask your customers to refer people to you—thank them EVERY time they provide you with a lead
  • Follow up on leads in a timely manner—don’t make people wait for your call for days and days
  • Be responsive to your customers’ comments and concerns—show willingness for constant improvement
  • Provide referrals to others freely—word-of-mouth marketing is based on relationships and you need to do your share

Whether you call it generating buzz or turning customers into fans, word-of-mouth marketing is an essential part of your marketing mix. Recommendations are golden. 

About the author: “Karen Southall Watts has been training and coaching entrepreneurs for over a decade. She teaches business courses for Bellingham Technical College.”

Posted via email from Virtual Assistants

Friday, October 16, 2009

Networking your way to success


John Donne famously said, “No man is an island”. When it comes to entrepreneurs this statement is absolutely true. Business involves exchanges of goods or services for money (or other goods and services in the case of bartering) and is based upon relationships. To do business you must connect, and the best way to connect is through networking. Just putting up a website or printing business cards is no more effective than putting a sign in the front yard. Networking puts a face on your brand. Your contacts will become your customers, clients and sources of referrals. Without them you are trying to function in isolation—making yourself a business island.

Ideally your networking will include a good mix of formal networking, informal and one-to-one networking and social networking through technology. By blending the approaches you can increase your chances of success. For example, formal networking events like the Vancouver Entrepreneur Meetup give you access to a group of professionals who arrive ready and willing to network. They are there to share and listen and are super receptive. One-on-one meetings give you the chance to get more in depth with your contacts and to really delve into how you can create win-win opportunities. When possible try to schedule at least one of these during your formal event. In other words leave the Meetup with more than a handful of cards. Finally be sure to add technology based options to your networking blend. Social media sites allow you to exchange information with and connect with people from all over the world. You can stay in touch ‘round the clock and provide up to the minute updates on your newest projects and products.

People can’t engage you for projects or buy your products if they don’t know anything about you. Networking skills are what set the successful apart from the entrepreneurs who struggle.

About the author: “Karen Southall Watts has been training and coaching entrepreneurs for over a decade. She teaches business courses for Bellingham Technical College.”

Posted via email from Virtual Assistants

Monday, October 12, 2009

Who’s afraid of networking

Life is about connections. Business doesn’t happen in a vacuum; it happens between people. Networking is a key function in almost every business and career, so what keeps us from doing it? Perhaps it’s our lack of understanding of the networking process. Or maybe it’s our fears, many unfounded, about doing it just right. Here are some of the most common stumbling blocks to networking

  • It’s a waste of my time—it is hard for me to believe, but there are still some people who don’t see the value of networking. After over a decade of teaching and coaching entrepreneurs I still have to point out that personal brilliance or product novelty is simply not enough to create success.
  • I won’t have anything to say—that’s okay, because some of the best networkers are great listeners. Real connections are made through conversations and not through elevator speeches.
  • Everyone there will be trying to sell me something—how do you know that? There are lots of reasons for networking and one of the best is creating your “team”. Networking helps business owners to find that perfect accountant, real estate agent, or PR expert. Think of all the people who are shopping and not selling and you’ll feel more confident.
  • I’m too shy—you don’t have to be “the life of the party” to be a good networker. There are no rules that state you need to meet everyone in the room or be the last to leave either. That’s the great thing about networking; it’s about building relationships and not sticking to a rule book. Focus on meeting a couple of people at each event and really connecting.

 About the author: “Karen Southall Watts has been training and coaching entrepreneurs for over a decade. She teaches business courses for Bellingham Technical College.”

Posted via email from virtualassistants's posterous

Sharing Library Resources: Yet Another Benefit of Coworking

I have a small library at home, but I prefer to separate my home from my work and thus had to bring those books to my office at The Network Hub. Recently, I brought a few books to my office that are particularly relevant to my work.

When I first moved to The Network Hub, it surprised me a bit to learn that the shared office space has a small area with books. Given that The Network Hub has an open space floor plan, anybody from the group of entrepreneurs and companies hosted here can access those books. Obviously, the honor system (where you take a book and you bring it back) works well in this particular coworking space.

Books, magazines and a variety of learning resources are an integral cornerstone of university libraries and research centres. Individual research and teaching departments (like Linguistics, Political Science, Geography) usually have a reading room where graduate students and faculty can access books, journals, magazines and other learning materials that may either be in high demand at the university library or simply, more relevant to the area of study within the department.

It hadn’t dawned on me how important it was to share library resources amongst entrepreneurs until a couple of days ago, when Amin (another entrepreneur whose company has offices here at The Network Hub) asked me if he could borrow a book of mine. And at that point (yes, recently, just a few days ago) it became clear to me that being able to access a collective pool of learning resources (including books/magazines/journals/articles) is yet another benefit of coworking.

About the author: Dr. Raul Pacheco-Vega is a Vancouver-based researcher, educator and consultant in the environmental public policy field. He conducts research in water governance, urban sustainability, comparative environmental policy and economic geography. Dr. Pacheco-Vega’s consulting studio has a home at The Network Hub.

Posted via email from virtualassistants's posterous

Sharing space with other entrepreneurs leads to synergy

Synergy — The interaction of two or more agents or forces so that their combined effect is greater than the sum of their individual effects.

There’s more to shared office space than a business bargain. Not only does investing in a shared office space save you money it provides you with lots of intangible benefits. If you are going to compete in the competitive Vancouver market, you need to be at your best. An isolated entrepreneur loses his or her edge in communication skills.  It’s impossible to sell your product or ideas if you never practice the language of business.

Shared office space gives you a built in group of colleagues who can act as sounding boards and moral support.  You can do more business from a shared Vancouver office space because you are working in the heart of the business community.  Association with a group of carefully vetted tenants like those at The Network Hub gives you access to a dynamic networking group as well as their varied talents. Successful entrepreneurs need teams; the days of “wearing all the hats” are over.  A shared Vancouver office space can cut down on the time you spend searching for expertise in areas outside your core business.

The perfect partner or collaborator could be sitting at the desk next to you.

About the author: “Karen Southall Watts has been training and coaching entrepreneurs for over a decade. She teaches business courses for Bellingham Technical College.”

Posted via email from virtualassistants's posterous

Thinking about guiding principles for coworking spaces

Coworking spaces vary in design, implementation models and philosophies/strategic views. Coworking spaces may share many attributes of entrepreneurial incubators, yet they may also have fundamental differences. A quick overview of philosophies and ground principles of coworking spaces in the US shows a few shared commonalities.

Carrboro Creative Coworking Principles (Adapted from the Citizen Space Philosophy)

  1. Collaboration – We strive to include a diverse group of people with a wide range of knowledge.
  2. Openness – Transparency is important. We all benefit from sharing ideas.
  3. Community – Creating good social connections for business and personal life benefits our work.
  4. Localism – Working in our downtown helps achieve our principles and contributes to our local economy.
  5. Sustainability – Sharing resources is good for our local community and the planet. Plus when we share we save money.
  6. Accessibility – Coworking spaces are affordable for a diverse group of people. Spaces are handicap and wheelchair accessible.

Since the very concept of coworking is rather new (arguably around 2005), having guiding principles hasn’t become yet a pre-requisite for coworking spaces to emerge. While it’s true that explicit guidelines are not yet a requirement for one of these spaces to succeed, but they are very useful.

Having principles or philosophies made explicit within each coworking space allows for potential entrepreneurs to filter themselves according to where they are located within a spectrum of collaboration.

As I had mentioned before, the mere geographical proximity does not guarantee that an entrepreneur that spends his or her time in a coworking environment will succeed. But a healthy combination of physical closeness, collaborative environment, coworking principles and entrepreneurial spirit are all factors that might lead to success.

About the author: Dr. Raul Pacheco-Vega is a Vancouver-based researcher, educator and consultant in the environmental public policy field. He conducts research in water governance, urban sustainability, comparative environmental policy and economic geography. Dr. Pacheco-Vega’s consulting studio has a home at The Network Hub.


Posted via email from virtualassistants's posterous

Answering services keep customers happier for mobile entrepreneurs

Telephone tag—that annoying thing that happens when you and your customers call and call and never connect. Wouldn’t it be wonderful if your customers could leave a message with an actual person? Think of how annoyed you are when you need to leave a message and you end up listening to a recorded voice. Well your customers feel the same way.

The Network Hub can help you avoid losing customers because of telephone tag. People are far more likely to leave a message when they get a real person on the phone. This means thatlive answering services from The Network Hub can get more of your customers to leave messages for you—giving you the chance to follow-up with them. Discouraged customers who hang up on your voice mail mean lost business and lost dollars. An answering service can be especially beneficial for mobile entrepreneurs. If your business has you traveling all over Vancouver, Canada or even farther, professional answering services allow you to still be “there” for your customers.

Flexibility is a key to success as an entrepreneur, and The Network Hub provides additional phone services designed just for entrepreneurs who need scheduling and meeting room access. No more telephone tag and no more hunting for a coffee shop that’s quiet enough for your meeting.

About the author: “Karen Southall Watts has been training and coaching entrepreneurs for over a decade. She teaches business courses for Bellingham Technical College.”

Posted via email from virtualassistants's posterous

Coworking and knowledge spillovers: When does being in close proximity help?

The concept of coworking isn’t really an original thought. Humans have a gregarious nature, gathering around the dinner table to break the bread and share meals. The same can be said about coworking. People like to work around others, particularly in an environment where the risk of office politics is much lower. A shift in the economic production paradigm from an industrial to a knowledge society has also contributed to the popularization of shared office space that can be rented by the hour, the week or the month.

Coworking has gained more traction in recent years (some argue thatBrad Neuberg created the first shared office space in San Francisco), particularly with increasing telecommuting options and the rise of a whole new breed of entrepreneurs. While sharing office space with other impresarios can be seen as one of the world’s greatest ideas, the pure geographical proximity does not guarantee that cross-pollination and knowledge-sharing will occur.

Research in the field of economic geography (by the way, economic geography was the main theoretical lens of my doctoral dissertation) has found that for knowledge spillovers to occur, geographical proximity is a necessary but not sufficient condition. In the case of coworking spaces, having like-minded entrepreneurs can have a very positive impact in the general morale of each individual, some cross-pollination and sharing of ideas. However, I believe that a necessary condition for coworking spaces to succeed in fostering knowledge spillovers is to offer a foundational framework (in the form of formal or informal rules or guidelines).

Another great way to encourage the sharing of ideas in a coworking space is to organize monthly/bi-monthly gatherings where like-minded individuals can mingle and exchange thoughts on potential business ideas. It’s important to realize that just by “being there” (e.g. sitting in close proximity) does not guarantee that we will learn from each other. We need to take a first step.

About the author: Dr. Raul

 Pacheco-Vega is a Vancouver-based researcher, educator and consultant in the environmental public policy field. He conducts research in water governance, urban sustainability, comparative environmental policy and economic geography. Dr. Pacheco-Vega’s consulting studio has a home at The Network Hub.

Posted via email from virtualassistants's posterous

Leaving the kitchen table

When should you move from your home into office space?

In the early stages of your business when you are working out of your house you can keep your costs low and spend time making absolutely sure that entrepreneurship is the path you want to take. However, most entrepreneurs wake up one day, look at the pile of files spread all over the kitchen table, and wonder if it’s time to move into real office space.

Growth is the best reason for moving into new digs. You are seeing more clients or selling more products and the cash flow is good. Expanding out of your home office and into regular office space at this time helps to solidify your growth and sets you up for the next phase of business. Getting out of your home and into a dedicated space allows you to focus clearly on the core of your business. You will find you can be more productive without the distractions of television, family interruptions and unplanned visits from well-meaning friends.

“Real” office space can provide a boost to your image and marketing efforts. If you are meeting with clients, suppliers and colleagues in a room with a view to your laundry, you are not making the best impression you could. Clients expect to talk with you without hearing your children crying or smelling your pets. Image is especially important for solo entrepreneurs; you are your brand.

Shared space situations, like business incubators, provide a way for you to have real office space and to share in amenities like reception and mail service. Entrepreneurs who use shared resources can create a more professional and polished image than they would otherwise be able to afford. An additional benefit of getting out of your home office and into regular office space is increased visibility and networking opportunities. Getting out of your house and into an office can be an important step to becoming fully integrated into the business community.

About the author: “Karen Southall Watts has been training and coaching entrepreneurs for over a decade. She teaches business courses for Bellingham Technical College.”

Posted via email from virtualassistants's posterous

Being a WOMAN entrepreneur

There are moments you reflect back that are monumental moments that shifted your paradigm but at that moment you didn’t realize it. I had one of those last week at PNE of all places. Growing up I remember walking around envious of the big toys that people win playing games. As a young girl, I don’t know how this got in my head but the norm for me was a guy was supposed to win it for me (although my parents were huge advocate in me being independent and self-sufficient). It was against some sort of rules of nature to have a girl win by herself or she was incapable of doing so.

As I walk around with my friend with Elysia and after we ate everything in sight, we played some games. We played the easy games – whac-a-mole, fishing a fish and picking out some cute little ducks to win some small toys. As we were about to leave, there was a bunch of guys gathered around the test your strength game, the goal is to whack the base of the game with a mallet as hard as possible to ring a bell. As I watched guys after guys attempting to ring the bell for the big toy, they walk away with sad faces and small little toys. I thought what the heck… why not? My friend tried to talk me out of it because 1) I was wearing a tube dress, 2) I dressed like “an old woman” – her words not mine, and 3) there were too many guys watching. There was something inherently wrong about a girl wearing a dress (outwardly feminine) challenging the guys perhaps but whatever, I didn’t care about embarrassment. We were passed that after my eating marathon. Handed my $5 dollars and took a swing. At my first try, I rang the bell… the second and third try I did even better. I walked away with the biggest toy. I even heard one guy yelling to another guy, “Dude, the chick did better than you!”

Picture 040

As I walk away I thought of a quote by Dr. Maya Angelou “You did what you knew how to do, and when you knew better, you did better.” I didn’t need any one to win me anything, I can do it myself. While it took me 27 years for me to realize it – to the young ladies in my life who think they need to compromise their feminine qualities to “act like a man” to get further ahead or to rely a on guy to give them permissions shine, forget it – find your passion, follow it and do it on your term.

Posted via email from virtualassistants's posterous

The Style Spy - Erica Lam

In the business world mostly full of men, I am always excited to meet fellow female entrepreneurs.  I am very honoured to count Erica as one of my friends but our relationship is a bit more special, she was the very FIRST tenant when The Network Hub opened.  She is fierce, glamorous, stylish, charismatic, powerful but she does it all with heart.  In her pink lipstick, perfectly curled hair and her trendy garb she controls the situation whether it is in a business situation or an event for a thousand plus people.  Whether it is commanding attention in the board room or fighting for that last pair of Manolo, she does it with style – she is The Style Spy afterall.


1. Tell us what you do
Where do I start! I run the editorial arm of TheStyleSpy.com, a popular fashion/shopping blog. I work with a team of talented freelance writers, keeping women in Canada in-the-know on the hottest fashion trends, beauty must-haves and sales & deals going on around town. I’m a city expert on all things shopping. TheStyleSpy.com also hosts a monthly fashion segment onCityLights on NovusTV. I also run a marketing arm under The Style Spy Media Inc. I work with fashion retailers and shopping centres on their marketing, whether it be interactive shopping events, marketing campaigns, public relations or social media initiatives.


2. When and why did you decide to be an entrepreneur?
Just over three years ago. I had worked a few jobs post university in marketing and sales. One day I started the TheStyleSpy.com blog by suggestion of a co-worker, my concept was shopping for everyday girls. Fashion has always been reserved for the elite, I always felt that fashion should be more accessible, cause reality is, most of us don’t shop in the pages of Vogue and we do shop at chain stores and try to duplicate looks for less. Once I started the blog, it became a bit of an obsession. I thought “how could I make this a business?” – how could this passion of mine, be more then just a hobby. That was three years ago. It’s been nothing short of amazing. I honestly didn’t exactly know how I was going to make money. Sure there are advertising dollars associated with the site, but I don’t have numbers like PerezHilton.com, so I definitely had to be creative to find ways to generate revenue. I realized my strength was the loyal network of female shoppers I had built. So I started to doing events with companies likeThe Bay and Richmond Centre, driving my audience and others through social media to events and promoting their brands. I execute the events or marketing campaigns with no traditional advertising dollars – utilizing FacebookTwitterthe Style Spy network and doing traditional public relations on behalf of my clients. It’s worked out well, with companies wanting to take chances with smaller companies and wanting to find creative ways to engage their audiences. My clients have included the aforementioned BayRichmond Centre, as well as Metropolis at Metrotown, the Yaletown Business Improvement Association and boutiques like IsharaFine FindsOrb Clothing and Wink Beauty Lounge.


3. What was the most challenging aspect of being a woman entrepreneur from your perspective?
I’ve been very lucky in this aspect. My audience is also female, which allows me to relate and understand them well. I also work with a lot of decision makers who are female and it’s worked my advantage. They often relate to me and see me as the very demographic and market they’re trying to reach. Giving me an inside edge, cause who better to speak to an audience then someone who is part of it.


4. What is a key personal attribute you see in successful entrepreneurs?
Determination. There will be many obstacles placed in front of you. Being an entrepreneur, and a successful one at that, takes lots of hard work, perseverance, determination and a bit of luck. There will be many moments when you wonder why you are doing this, but those who succeed are those who keep going despite the hurdles. I believe the journey is also part of the story, if it were easy, everyone would be doing it.


5. Any advice you would like to give to someone contemplating a start-up?
Do your homework, always educate yourself. I read countless blogs, from fashion to tech to small business. You want to be in on the action, always in-the-know. Networking is also huge. You could spend countless hours studying something, but if you know the right people – it can take you there that much faster. Be humble. I find lots of “pseudo-entrepreneurs” get caught up in the whole excitement of being an entrepreneur and lose sight of what is really the nuts and bolts their business. It’s really about the business, not the fame of being an entrepreneur. Lastly, bootstrap it. There are lots of things I spent money on that I wish I hadn’t. At first, you just have to make do with the basics and forgo the fancy office, spend wisely.

Posted via email from virtualassistants's posterous