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If you are serious about building your business online and creating buzz for your business using Facebook, you have to accept the fact that you are going to have to work at building your following. Understand that just because you create a Fan Page or Page for your business, does not mean people will automatically follow you.

When consulting with new business owners, I find the most common mistake being made is creating a Fan Page without a purpose. Realize that your Fan Page is another marketing tool for your business which first requires planning a strategy to implement.

Before you jump right in and start a Fan Page because "it's what everybody else is doing"...Determine Your Purpose.

Why You Should Have a Plan...

Easily put, you need to know what your working to build your Facebook following for (leads, traffic, etc.) and to establish who are the people you want following you. Once you've figured that out, you now have an audience to market too.

Here are 3 Reasons Why You Must Work at Building Your Facebook Following:

  1. To Create a Niche Community - Once you have your plan in place and know how to proceed and in which manner to encourage "Likes", you want to keep your page engaging and interactive so your followers keep coming back. You have to provide a blend of posts that provide valuable niche content along with audience interactions. Finding an equal balance that flows with your community will come from you, "listening" to the needs of your followers. Posting once a month simply won't cut it...you have to be your communities most engaging and biggest fan.
  2. To Nurture Relationships and Build Connections - Another reason to work at building your Facebook following is so that you can stay connected with the people already in your networking circle, loyal blog readers and the such. Your Fan Page opens up another platform for you to stay in touch with the important people in your business world. You can of course, develop new relationships and establish new networking connections from people you meet in Facebook groups and are recommended to you by your raving fans.
  3. To Attract Collaboration and Partnership Opportunities - What better way to come across new ventures than to have them presented to you? When you properly work at building your Facebook following and use the right strategies to market to a predetermined audience, you place yourself in a position to receive more quality offers that will help leverage your business building efforts.
So, if you feel you don't have the time to work at marketing your business on Facebook and taking full advantage of its free social media tools, you may not be ready to build your business online. Marketing a business online using social media takes work, but proven to pay off greatly when done right.

My suggestion, invest in the time it takes for you to learn the steps to successfully marketing with Facebook. Develop the skills required to build genuine connections, nurture relationships and establish community.

You have 2 options - Work hard for yourself or work hard for someone else...the choice is yours!

 
Tamyka Washington|TheCEOMamma
Social Media & Network Marketing
www.theceomamma.com
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Networking for the "Authorpreneur"

In order to efficiently reach a large number of people, you need to develop and leverage a network of contacts who will help you identify, build, and connect with your platform. These individuals include, but are not limited to:
  • Publishing professionals (e.g., your editor, publicist, or agent)
  • Booksellers in your genre
  • Other writers
  • Members of industry or trade organizations to which you belong
  • Media personalities (e.g., reporters, radio hosts, or producers)

 

The Author Power Team

As an author, you are always on the lookout for new ways to improve your marketing strategy and grow your platform. One of the best ways to do this is by developing your power team.

 

What’s a power team? A familiar term among business networking professionals, a power team is comprised of individuals and/or businesses with whom you share common goals or a common client base.

 

How can it help you as an author? The members of your power team can help you improve your strategy, connect with more readers, identify more opportunities, hone your message, and expand your reach.

 

Let’s look at key members of an author power team and how they help you build your career.

  • Publisher: Your publisher is an industry insider. If you have chosen wisely, your publisher should have a track record of producing successful books in your genre and should be able to provide you with tips and insights to help you get on bookshelves and in front of readers. Keep your contacts at the publisher in the loop so they are aware of all of your marketing and publicity efforts. This helps them keep your book stocked when and where it needs to be available. They can also give you feedback on publishing best practices.
  • Publicist: A publicist helps you develop your marketing strategy and puts you in front of big media—radio, television, print, and online. A publicist also helps you hone your message and clarify your brand so you can reach readers. They have spent years cultivating relationships with media and industry professionals and have access to contacts you may not be able to reach on your own.
  • Other Authors in Your Genre: Wait—they’re your competition, right? Not necessarily. If you have differentiated yourself well, your work will stand out when compared to other authors’ work. Each author has something unique to give to the reader, but authors in the same genre share the same audience and are marketing to the same people. If you have been growing your platform and marketing your book, you should already have a following. Pull your efforts together with another author doing the same and you can double the strength of your platform and gain twice the reach.
  • Bloggers: Bloggers who write about your topic or genre also share face time with your audience. They often have an open dialogue with a following that listens to their advice and trusts their recommendations. Develop relationships with bloggers in your category and offer to write guest posts, send them a free review copy of your book, share links, or come up with cross-promotional activities.
  • Industry Gurus: No matter what topic or genre your book covers, there will be some movers and shakers already commanding a strong following in the same area. Cultivate a relationship with these people. They’re connected and know what your readers are looking for. They can get you into events and speaking engagements that will put you directly in front of your target audience.

 

These are the primary members of your power team, but don’t be afraid to think outside the box while choosing members. Each book and genre has special needs and interests that are served by many people. Aligning yourself with those people will help you engage your audience and, in turn, sell more books.

 

Remember, just as with your audience, be willing to provide value before you ask for anything from your power team in return. You are looking to cultivate relationships, not just take what you can get. Here are a few key things to remember as you build your team:

  1. Be sincerely interested in the other person.
  2. Find ways to help them meet their goals.
  3. Be willing and able to promote and/or endorse them.
  4. Relationships are a series of meaningful interactions. Make time to check in and see how they are doing, without looking for something in return.

 

Above all, treat them as you would want to be treated. If you are truly interested, considerate, and helpful, they will reciprocate.

 

Keeping Track of Opportunities

As an author, you’re constantly chasing down opportunities to share your book, speak to a crowd, serve as a resource, and perform other platform-building activities. People will often say no to your first request—but don’t let that discourage you or stop you from pursuing a lead after the first contact!

 

It takes at least six points of contact for a message to sink in—six—yet more than 75 percent of the time, people stop pursuing leads after the first point of contact (Good Day 2009). Sometimes authors stop pursuing because they receive a no on the first try, other times because the number of leads to manage is overwhelming. Cultivating relationships is crucial to your career, but it doesn’t need to take up all of your time.

 

The first thing you need to do is gather contact information. Every time you meet a lead or come across someone in a search, collect his or her contact information or business card right away. Enter them into a simple database such as Microsoft Outlook, PlanPlus, or Salesforce. Spreadsheets and Rolodexes can be hard to manage effectively, but databases like these allow you to classify your contacts, set up reminders, add notes, and keep track of all interactions. You can also consider adding new contacts on LinkedIn if you feel you know the person well enough to engage them online.

 

Next, you want to categorize your leads. Not all leads are created equal, and each group requires a different type of interaction. Here is a simple way to classify your leads:

  1. Hot or “A” Leads: These are people interested in having you speak or scheduling you for some other event. These contacts are ready to go and need to receive frequent, personal contact in order for the relationship to develop into an event or opportunity. These contacts go to the top of your list.
  2. Warm or “B” Leads: These are people who showed interest, but who have not yet decided whether they want to work with you. You will need to provide them with more information and work to cultivate the relationship.
  3. Cold or “C” Leads: Cold leads are people with whom you have no rapport, such as those you find on the Internet or find out about through third-party sources. These contacts are usually managed through what is called “drip line marketing.” Drip line marketing consists of things like newsletters or emails you send out to a distribution list on an infrequent basis. You may need to send an introductory email and then a reminder a few months later or add them to an informational newsletter until they opt out or say they are not interested. Setting up a drip line campaign is to help you cultivate those six points of contact and to educate potential clients who may turn into A or B leads.

 

Sorting your leads into these categories will help you better identify and manage opportunities as they come. Don’t forget to provide value first, and remember that your leads are people. Treat them with respect and consideration, and always show your appreciation for their time.

 

 

Rochelle Carter is the President/CEO of Ellechor Publishing House. Ellechor is a publisher of Inspirational Christian books, including Adventure and Romantic fiction, and non-fiction/devotionals dealing with Relationships, Suicide Prevention and General Self-Help.

Contact Us | Write for Our Blog | Latest Publications

 

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LinkedIn is a powerful social network for business growth. As recent as March 2011, LinkedIn reported more than 100 million registered users, spanning more than 200 countries and territories worldwide. Imagine the exposure using LinkedIn as a part of your strategic plan? If used properly, LinkedIn is a superb and very effective networking and marketing tool! Are you LinkedIn? If not, then why not? Here are 6 ways to incorporate LinkedIn as a part of your company’s marketing strategy:

Create Your Profile
We can all use new contacts to keep our business open. By joining LinkedIn and developing your profile is a great way to personally brand yourself as a leading industry expert. LinkedIn allows you to connect and continue to build relationships. Not only do you have access to your 1st connections, but you can gain exposure to a second and third tier of contacts. Even more, once you create a LinkedIn profile, you’ve established an identity on the website which is searchable. Here are a few tips to create a stellar presence:
  • Create your profile to match your target audience.
  • Highlight your expertise and the benefits of connecting with you.
  • Ask for recommendations from former employers, colleagues or clients
  • Make sure you convey a polished and professional image
  • Examine invitations to connect before accepting to ensure there’s a match with your profile
Gain Competitive Advantage
Do you know your competitive advantage? According to Wikipedia, competitive advantage is “strategic advantage one business entity has over its rival entities within its competitive industry.” If you are serious about business, you want to be at the forefront of any changes or trends in your industry. By establishing a presence on LinkedIn, gives you full access to resources, news, support and information.

In turn, you can continually create superior value for your customers and profits for your company.

Ask for Recommendations
If you are of good character and have built a successful professional reputation, then there is no reason not to ask your clients, colleagues, former employers or anyone familiar with you for a recommendation. With that being said, I suggest asking only people you know. Too many times I’ve been asked to give recommendations by people that I don’t know which is very awkward.

A client recently wrote “Sylvia is an excellent Life Coach and Advisor. She has given superb guidance and offered insight that has jump started my company's success. I will forever be thankful for her counsel in how it has helped my bottom line. Sylvia is reliable, trustworthy and offers out-of-the-box ideas and solutions. If you are in a slump and need genuine directions - contact Sylvia Browder!”

Create a Group
Make your online presence felt by creating a group specific to your industry to share common interest. This allows you to connect with like-minded professionals for networking, collaboration and lead generation. As a group creator, be sure to share your knowledge and expertise by answering discussion questions and posting relevant information. Here are a few tips to optimize your marketing efforts:
  • Add RSS feed of your blog to drive traffic back to your website.
  • Include links to your Facebook, Twitter and other social network sites.
  • Stay in contact with your members by sending a message on a regular basis.
  • Include keywords about your business in the description of your group.
In 2009, I created National Association of Women on the Rise, a professional group for women entrepreneurs which currently have over 251 active members.

Join a Group
An important thing to consider when researching groups is to only join those that are relevant to you. Once you are a member, lend your professional knowledge by interacting with other members, respond to posts; share tips and articles; get connected to potential customers and partners; or test a new idea to get the reaction of group members.

I am currently a member of 48 professional women and small business groups. I schedule an hour per week to interact with most of them. This has been beneficial as I’ve gained contacts, new clients and new members joining my LinkedIn group.

Recruit Employees
Need to hire an employee? There are many benefits to companies looking to fill job vacancies. They can post jobs, recruit and hire qualified candidates. In a recent statement by LinkedIn officials, “We combine job listings, candidate search, trusted referrals and the power of networks to give you results." This allows you to find qualified candidates easily by using search options.

In addition, you can read recommendations of potential candidates to determine their character. To optimize your experience in researching potential candidates:
  • Search for resumes. Some job seekers will post their resume and it gives employers an advantage of scoping out a candidate in advance.
  • Change your status to ‘hiring’ as this will alert candidates that you are currently hiring. This allows them to freely seek your company out.
In conclusion, by following these tips, will allow you to market, grow and connect with people that matters for the success of your business.

WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Sylvia Browder is founder of National Association Women on the Rise, a virtual community for aspiring and established women entrepreneurs. The association’s mission is to provide professional and personal resources while uplifting and empowering women entrepreneurs through collaboration, education, mentoring, spiritual and peer support, leadership and networking. She has served as an online volunteer SCORE counselor since 2004. For FREE weekly articles go to Sylvia Browder’s Blog for Women Entrepreneurs, www.sylviabrowder.com. She can be contacted at info@nawomenrise.com.
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How to Pitch an Interview for Authors

If you have adequately done your market research, you will already know which major publications your market reads. For example, if you are a business author, you know that your audience is likely subscribed to Forbes, Entrepreneur, Inc., or a similar publication. If you are working with a publicist, they will already have a list of contacts and their guidelines; if not, you will need to do some research in order to identify which reporter/editor would be the best contact and how to approach them. Generally this information is available on the publication’s website, but in some cases you may need to use a media service such as MyMediaInfo or Vocus.

 

Once you have identified the contact, develop your pitch. Your pitch needs to provide a clear, single-sentence hook that will set up the premise or angle of the interview. The hook should answer the following questions for the reporter:

  1. Who are you?
  2. What value can you provide to my readership?
  3. What sets you apart from others in your field?
For example, your hook could be. “My name is John Smith, and I developed a five-step program for strategic management that has been adopted by twenty of the top Fortune 100 companies."

 

This hook is what you will use to open up your cover letter. Attached to your cover letter will be your press kit, which will give the media contact everything they need to determine whether you are a good candidate and will serve as a great starting point for them to develop their questions and angle.

 

Interview Tips/Basics

 

1. Develop Talking Points: Most interviews will focus on a few basic points and angles. This means you can walk into any interview prepared, but you will also have to be ready to shoot from the hip if necessary. Keep your answers short, to the point, and free of technical jargon so a broad audience can understand them.

 

Basic media questions include:

  • What is the title of your book?
  • What is your book about?
  • Why did you decide to write this book?
  • Who should read this book?
  • Why should they read this book?
  • What authority do you have to write on this topic?
  • Where can people find out more about you / your book?
Even if these questions are not asked, they are points you want to work into the conversation. Most important is the title and where to buy the book. In fact, you will want to mention the title and its accompanying website several times throughout the interview or appearance. Repetition is key! An appearance in which none of this information is shared is a wasted opportunity.

 

Once your book is ready for market, sit down with your publicist and/or your marketing team and hash out your talking points and sound bites. Learn them so well that you can easily integrate them into any conversation. Revisit them frequently to make sure they are still relevant and timely and remember: always mention the book and where to find it.

 

2. Presentation (Physical Appearance, Tone, Pace): Whether it’s for television, radio, print, or an event, if you are in person and in view of the public, you always want to look your best:

  • Choose a professional outfit that is appropriate for the venue. Wear solids on television whenever possible.
  • Practice good hygiene!
3. Etiquette: The world of media is a tight-knit community. One bad impression can hurt your chances of getting not only a second interview with that outlet, but future engagements at other outlets as well. Here are a few tips to avoid an etiquette mistake:
  • Be kind to everyone. Whether you are speaking to the receptionist or the host, it is imperative that you be kind. Oftentimes the person in charge will ask for feedback from everyone who came in contact with you. Plus, today’s assistant is tomorrow’s boss, so don’t chance your future by assuming someone isn’t important.
  • Arrive on time. Being early will get you everywhere. Even if you have to wait, it’s better to be on time and considerate of their schedule than missed completely because you weren’t where you needed to be.
  • Keep it short and sweet. Whether on air or in print, media outlets only have a limited amount of space for your content. Respect their time allotments and keep your answers succinct to the point (which is why its so important to develop your talking points ahead of time). In broadcast, never—ever—speak past the end of your countdown.
  • Send a thank-you note. Show gratitude after the fact with a handwritten note (if possible) or a quick email. Again, keep it brief, but be sincere.

 

Rochelle Carter is the President/CEO of Ellechor Publishing House. Ellechor is a publisher of Inspirational Christian books, including Adventure and Romantic fiction, and non-fiction/devotionals dealing with Relationships, Suicide Prevention and General Self-Help.

Contact Us | Write for Our Blog | Latest Publications

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Expose YourSelf!

Are you ready to be found?

In last week’s blog post, I talked about being consistent with your online marketing. In order to have success in your business you have to be visible. You have to be willing to put yourself out there. Let your customers connect with you and get to know you, you also have to set yourself apart from your competition.

Commitment – Make a commitment to spend one hour a day working on your business marketing strategy. Mark off this hour on your calendar and be consistent with the time. You have to write it down. I am sure you have heard the saying write the vision and make it plain.

A great resource is Google Calendar make an appointment to work your business for the next 90 days.

Here is a great example of what you can put in place today to start marketing your business online this week:

Another great resource is PingFm or Hootsuite: Update your statuses in one place first thing in the morning. This is a very effective tool and with Hootsuite you can schedule some tweets.

Monday, Wednesday & Friday – Take 30 minutes out to write your blogs.

Tuesday, Thursday - Take 30 minures comment on other blogs.

Daily Facebook – Only 15 minutes a day - Engage your audience by sharing links and providing valuable content and commenting on others.

Daily Twitter – Only 15 minutes a day ( Retweet, Respond, and Connect) Twitter is great for building long term relationships if you do it effectively by sharing. Share empowering quotes

Be Consistent – Success doesn't happen overnight. You have to put a marketing system in place and know that a little bit will do a lot overtime.

Implementing a daily marketing strategy will help you attract more traffic, more leads, more money as you grow your business online.

This is a great way to build and market your business.

Weekly Action Step:
  1. Google Calendar Mark off the designated time
  2. Create Your Daily Marketing Plan
If you have any questions or comments post them here or on my facebook wall

www.facebook.com/lakeishahankins

LaKeisha Hankins
www.LaKeishaHankins.com
www.ExudingRadianceLifeCoaching.com
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Hello BBWO, I decided to repost this blog to get your opinion.

Wow! I've been a member of BBWO for two years may be three and I have to admit this is my first blog so bare with me. Here's the thing, I recently joined the Chicago Southland Chamber of Commerce. I decided to join to get more exposure for my company Trace Identity Services, Inc. with the hopes of picking up more accounts and to have a voice in the community.

 

There are a lot of meetings, networking and swapping business cards, I have to say ladies at this point I like it. Ok here we go, I was networking with someone at a meet and greet event and his question to me was "What's the difference in me paying $19.95 online for a background check for my company than me paying your company for the same information?" My answer to him, "First of all when you go online and have a background check done on a potential employee this is a "Name Check" not "Fingerprint".

 

Name Based are not positive identification and It may produce multiple hits also Alias names, common names, or maiden names can result in false "hit" or no "hit" responses. Fingerprint based allow a biometric search on the AFIS (Automated Fingerprint Identification System) database, will provide positive identification (No multiple hits) and Fingerprint patterns don't change and are not easily altered.

 

Listen my BBWO if you have a non-for-profit organization and your company is hiring mentors, volunteers and they are working with children or elders make sure they are fingerprinted it's easy, quick and inexpensive. For further information go to www.traceidentitysi.com

 

 

Roz

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I have been SOOOOO busy these past few weeks working on clients websites like (one, two, three) and my own secret project that I will be releasing next week. I haven't had a chance to blog and be as social online, so I decided to get REALLY SOCIAL this weekend. Yesterday I hosted my 1st twitter party for members of Black Business Women Online and it was so awesome. So many amazing women entrepreneurs tweeted in, shared tips, made connections and got a few giveaways from me too! I want this good vibe to last ALL weekend so we are keeping this thing going starting noon today (EST) you can still join the party by going to http://tweetchat.com/room/bbwo using the hashtag #bbwo. I hope I see you in Twitterspace with us today AND tomorrow. If you attended please leave a comment and let me know what you thought about our ROCKING Twitter Party for Women Entrepreneurs and Tech Savvy Women. Oh and before I forget, for those of you who have been asking me about how to Sell eBooks, use the promo code BUY27 to download my audio series Setup and Sell eBooks Online. I think there are about 20 of these promo codes left.
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Mad about Mimi!

Thanks to Lashanda Henry I am back on my grind for my business.  A few weeks ago I purchased the 40+ audio series from her and it is so worth the money.  Instead of overwhelming myself  with the wealth of info that she gives I decided to marinate on one concept at a time and then move on to the next when I feel comfortable; which has been working for me.  Anywho, I just graduated from learning about email advertising.  After checking out all of the companies that she suggested I decided to go with Mad Mimi because they looked to be very user friendly.  To my surprise I got that and then some for $8 per month.   The other day I sent out my first email with Mad Mimi and the service is super easy to use, the templates look good and I get to track my email effort by a built analytics program, which shows me how many people opened my email, how many people forwarded my email, how many people unsubscribed to my email and how many people have  yet to open my email.  I am thankful to Lashanda for bringing this to my attention and I an thankful for Mad Mimi for making this aspect of my advertising easy and inexpensive.  I highly recommend this service.

   

Mad Mimi Email Marketing SoulSeed Tees
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Let me paint a portrait. I'm new to Black Business Women Online. You can imagine my horror when I received what I thought was a welcome greeting from a member on this website. Instead it was an unprofessional overly aggressive, ineffective marketing solicitation. An unsolicited invitation to join in a  business venture. I literally felt as though I were being bullied. I will not hesitate to mention It read like an attempt to emotionally, psychologically and spiritually brow beat me into submission. A person I did not know had the audacity to claim to know me, and my aspirations. She went on to state, she just didn't invite anyone. I wish she had never thought to invite me.

The invitation would have been laughable, if it had not been threatening and aggressive. A stranger who did not have the slightest clue as to my credentials, goals and aspirations. A stranger was invading my privacy armed with crude tactics. Tactics which can best be described in criminal terms as a strong arm mugging.

I can appreciate enthusiasm for ones product. However, brow beating potential employees or clients is totally unacceptable. My suggestion to this person who shall remain nameless, is to employ the marketing expertise of fellow BBWO members. Thus learning the art of successfully and professionally marketing your product.

This is #2 in an ongoing series of blogs to address the negatives on the journey to building ones business.

 

 

 ©2011 Lorraine Currelley.

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10744063291?profile=originalI am so excited to announce the launch of Caribbean Women Who Lunch, Inc. (www.mycwwl.com). This is an organization with a mission to provide global networking and learning opportunities aimed at helping to grow the careers of women of Caribbean descent.

 

Women are notorious for not engaging their networks in the same way that men are able to do, so my dream for CWWL is to provide a forum for professional women of Caribbean descent that will facilitate access to global networks online, while also encouraging members to tap into their local networks through power lunches. This way you can build some truly meaningful relationships that help to move you forward professionally. The CWWL website is a social networking site that allows you to invite your own networks and also tap into the networks of other members, all of whom have some connection to the Caribbean, so you are already starting off with something in common.

 

This idea came to me a couple of years ago when I decided to launch my coaching practice. I wanted to start a group of women who would be able to offer advice and support to each other as we progressed in our careers. I also thought about how migrating to New York when I was 26 had impacted the networks I had back home in Jamaica. Essentially I had to start over upon moving to the U.S. so I thought why not create a network that women can access from anywhere in the world?

 

In order to help the membership grow quickly so it offers immediate benefit to the membership, the first 500 members will get the first year of membership for free. Just click on this link www.mycwwl.com, and with a few clicks you’ll be on and ready to invite your own networks by connecting to your email account(s).

 

Let’s network, learn and succeed!

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You have to see it to believe it. Have you ever seen an African American mascot? Well he does exist his name is "Mop Top the Hip Hop Scientist" and he has friends Lollipop, Mop Top, and Flip Flop. We are trying to get feedback from parents, educators, children about our site. Tell us what you like, and what you don't like.

www.moptopshop.com

 

 


Jackie Johnson CEO & Founder of Mop Top Shop Inc., was interviewed by "My Carolina Today". She explains why she statred Mop Top Shop Inc.

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The video above is entitled 3 Things You Need to Grow Your Online Business. These things are as follows:

1: New Customers to buy your products and Services
2: Old Customers to come back and buy again
3: New products to sell to your new and old customers

Based on that information, let's talk about your current online business. What are you doing to drive traffic to your website and attract new customers? What is working and what is not?

When was the last time you spoke with your old customers? Do you know who they are? Do you have something new for them to buy? How many of them come back and buy again?

What are your best selling products this year? What products sell consistently for you over time? Do you also promote affiliate products to your list to generate passive streams of income?

With the first quarter of 2011 complete, now is the right time to review your current business activities and move forward. As I mentioned in the video above, my latest collection of money and marketing audio sessions now available for you to download. They are are all about giving you answers to these very questions.

Using social media and video I can show you how to attract new customers online and keep your old customers coming back for more. Plus I can show you how to tap into new money either by creating ebooks and selling information or promoting affiliate products that compliment your own.

So go grab the latest SistaSense set of 40+ audio sessions of me sharing my latest social media marketing online money making strategies with you. Noting that some folks often ask me, "which one should I get first?" I combined all 6 sessions into my 2011 Money and Marketing Bundle. While this bundle is $297, 10 go-getters can grab it now for $97 using promo code NOW97 and there are less than 7 left.

The clock is ticking... go to http://www.sistasense.com/now/. Let's all make the second quarter of 2011 a profitable and productive one!

Related: Do you want the sales, but hate to sell? MochaWriter shares how SistaSense.com has helped her conquer those fears and put herself out there.
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10 Ways to Build Your Business Credit

Let's face it, your personal and business credit is essential to your financial health as a small business owner. It's important to understand this and learn as much as you can about building and maintaining a good credit score for your business.

Having a business credit score of 75 or higher through Dun & Bradstreet is essential and can help you especially when trying to get lines of credit with vendors.  While cash loans, such as an SBA loan, micro loan or personal signature loan will require a review of your personal credit - your business credit score will help also in making a final decision.

Much has changed in the business credit industry today.  It used to be that you didn't need to always use your personal credit history when applying for small business loans or lines of credit, but that's not the case anymore.  You'll need a personal credit score of at least 680 and again, a D&B score of at least 75.  If your personal score is less than 680, it's time to start working on it right away.

Building your business credit is not something that can be done over night, but it is a gradual process that occurs over a period of time.  As your business grows your business credit worthiness should get stronger and stronger.

A good business credit score will assist in getting business loans, lines of credit and minority or woman-owned certified.  Your business credit worthiness is an essential part of growing your business and it also shows your leadership ability as the owner or CEO.

Below are 10 ways you can get started in building your business credit:

   1. Consider changing the structure of your business to a corporation, such as a Limited Liability Corporation better known as the LLC.  This is the most common structure that many small and micro businesses are using.   If you are not certain of the structure for your business make sure you discuss it with your accountant or attorney.

   2. Apply for a business checking account.  This is an essential part of the process in legitimizing your business.  It will be important for you to keep all of your expenses separate.  This is very important to do if you're incorporated especially.  It is also a plus to keep a minimum balance of $2500 in your account at all times.  This helps in establishing your credit worthiness.

   3. Develop your business plan.  Many times when applying for a loan or line of credit you'll be asked for your business plan.  This normally causes a lot of small business owners to procrastinate, because it can cause one to feel overwhelmed just thinking about writing one.  But, it is necessary and remember to get help doing it.  You don't have to write it alone and neither do you have to create a long 100 page document.

   4. Gather your business financials. Most of the time a lender or loan specialist will also ask you for financials.  This will include the Business Checking Statements, Balance Sheet, Cash Flow Projection and Tax Statements.  Depending on the number of years you have been in business be prepared to provide up to 3 years of statements.

   5. Apply for your DUNs (a.k.a. D&B) Number.  The DUNS number is a 9-digit number that is used worldwide in tracking more than 100 million businesses.  It helps to build your company's credibility and helps vendors, lending agencies and others to verify that you are running a legitimate business.

   6. Apply for a business phone line that can provide you with a 411 directory listing.  This is normally with your local phone company.  Validating a business phone number is normally the first thing that vendors do to verify that you are indeed a real business.

   7. If you're a home-based business, consider also using a virtual office service that has a commercial address (not a PO Box or UPS Store).  This means that you should be able to receive packages there and anyone should be able to visit the office and ask for you or your company by name.  There are many such services popping up all of the US, so you shouldn't have a problem finding one.

   8. Make sure that any services you use are in the name of your corporation.  This should include: cell phone, office lease, any machine leases, business services etc.

   9. Start applying for business credit with vendors (Staples, Office Depot etc.) that report to business credit agencies, such as Dun & Bradstreet and Experian.  Make a list of items that you need in your business that can be purchased through a line of credit or lease, instead of using cash.  Don't just trust a vendor's word that they report to business credit agencies; ask if they have it in writing in their literature or credit applications.

  10. Only use 35-50% of your business credit cards spending limit. Business creditors get very nervous when you use anything larger from your spending limit and especially when you don't pay it off within 30 days.  This shows that you might be having a cash flow problem and they run from that.

Once you have received your D&B number, consider using the D&B File Creator Service.  This allows you to quickly place business accounts on your file and helps to establish your credit worthiness quicker.  In addition, it will be important to check your business credit profile at least quarterly to ensure that everything is being reported properly and that your score is getting higher.


As you build your business credit, it is also important to understand the importance of paying your accounts payables at least 7-15 days ahead of time.  This goes over well with business creditors and is reported on your Dun & Bradstreet credit report, which helps your score to go higher.

The information points provided above are suggestions based on the success that others have had in building their business credit.  It is not a conclusive list and there are many other things to consider when working on building your company's financial reputation.  However, it's a start in the right direction.

 

About the Blogger

Trina Newby is a business success coach and founder of Women About Biz.  For more than 20 years, she has been helping women to turn their ideas in to profitable business ventures.  Trina is also the host of the Successful Woman Radio Show.

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7 Traits of a Successful Entrepreneur

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Do you dream of starting your own business? Do you know what skills and traits are needed to be a successful entrepreneur?  More importantly, do you think you have what it takes?  This article will touch on 7 of the most important traits of a successful entrepreneur.

  1. Self confidence – the successful entrepreneur is noticeably confident.  Self confidence is an extremely important characteristic for the successful entrepreneur.  Before you start your business, you should feel confident in your abilities and trust yourself and your unique set of skills.  When and if the time comes, the successful entrepreneur knows how to summon the drive and determination needed to achieve his dream of starting his own business.  He should be confident enough to tackle adversity and resolve any problems that could interfere with his dream.
  2. Risk taker – successful entrepreneurs don’t always play it safe.  They know when to trust their instincts and act on a hunch.  Some of the greatest business ventures in history started from a simple “gut feeling” or “hunch”.  Let’s face it, there’s always the risk of loss or failure, but the successful entrepreneurs is not afraid to take that chance. 
  3. Fiscally fit - the successful entrepreneur is careful with his finances.  He understands the value of money and is usually very particular about his expenditures for his business as well as in his personal life.  He may have learned the value of money at an early age; maybe as a teenager who mowed lawns after school or a little boy who took the neighbors trash out every evening.
  4. Good Intuition – some entrepreneurs claim to “just know” (hunch) if a product or service is going to be a success.  No, they aren’t psychic, most likely they just really pay attention to what’s going on in the world around them.  They pay attention to the latest trends and are usually active in their industry in some way.
  5. Competitive nature – the business world is highly competitive regardless of the industry you’re in.  The successful entrepreneur knows he must be aggressive if he wants to achieve his dream.  He doesn’t feel threatened by his competitors and is always looking for ways to make his business stand out from the crowd.  He’s not afraid to work hard to be successful.
  6. Honorable habits – the successful entrepreneur has a good work ethic.  He welcomes suggestions and criticism from his customers or clients and diligently looks for ways to improve his business products and services based on those suggestions. He believes that good work ethic will lead to better business practices, improved business reputation and good standing among industry peers and business associates.
  7. Vacation time – the successful entrepreneur recognizes the importance of leisure time.  He knows when it’s time to step back and relax and spend quality time with family and friends.   Taking time away from the hectic business world rejuvenates our mind and body and allows us to better deal with the stresses and strains that inevitably come with having our own business.

There you have it – 7 of the most important traits of a successful entrepreneur. 

Keep in mind that just because you possess some or all of these traits there is never a guarantee that you will be successful.  These are but a few of the ingredients in the recipe for success.  If you do happen to possess these traits, congratulations!  You have a solid foundation to start building your success. 

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About the Author:Shelley Graves is a Virtual Business Support Specialist and owner of Capitol Business Support. Based out of Washington, DC, Shelley specializes in providing virtual business support services, including social media and internet marketing, to new small business owners. Visit Capitol Business Support today for a FREE business support assessment and FREE Special Report on how I can help you grow your business.

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What Do You Do When Someone Trashes Your Work Online?

10744058694?profile=originalSo, you are sifting through your Google alerts for mentions about your business, and you come across someone trashing your work. What do you do?

 

Immediately, click the "X" in the upper right corner of your screen and close the page. You've seen it. No point reading it over and over. Take a break and do something completely unrelated to take your mind off the comment. After you have recovered from the initial surprise and hurt, you can attempt to take a rational look at the comment. When you revisit the comment, don't internalize the critique because it is not you who is being attacked. Try to look at the comment and your work as an outsider would.

 

Here are three things you can do to help get past the sting of a negative critique:

  1. First, consider the source. Try to understand where the commenter is coming from. It is not always about jealousy or being a "hater." The commenter may truly not like your work. There will always be people who do not like your product. Another thing to consider is maybe this is a person with a limited viewpoint and lack of exposure to new or different ideas. People judge your work based on personal experiences and perspectives.
  2. Next, do not respond in anger. If you want the person to know that you've read the comments, you can respond with a simple "thank you" and move on. It would be even better to say nothing, and just let the comment ride. Remember that anything you post online is almost impossible to remove so really consider whether it is worth it to type a response. Also, you will be surprised to discover that negative comments will cause people to search for you and your work, and many of them will not share the opinion of the negative commenter.
  3. Finally, do a self-evaluation to see if there is some truth in the negative comment, and determine where you can make corrections to your work. Use your self-evaluation to improve your future projects.

When you receive a bad review, it is important to keep your head up and stay productive. It's just like dating. The best way to get over a bad date is to get out there and have a good date, and the best way to get past a negative critique of your work is to come back with something great. Don't ever allow someone's opinion to stop your momentum.

 


TurquoizBlue designs crochet fashion, accessories and home décor using traditional techniques to create modern, contemporary designs. Her designs can be found in publications such as Interweave Crochet magazine and on her website at http://www.thisiscrochet.com.

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Black Enterprise Partners with BBWO
Black Enterprise
forms content partnership with Black Business Women Online, the number one social network for women entrepreneurs of color. Starting January 2011, the BBWO network and official blog (sistasense.com) will include exclusive and featured content from Black Enterprise.com in the areas of entrepreneurship, careers, small business, and personal finance. Members will also receive updates on BE events and opportunities ideal for black professionals and minority business owners. (continue reading).

New Year, New You! Join My Pledge Towards Personal Prosperity in 2011
You want to be prosperous right? You want your dream life, your dream business, all your dreams – period? If yes, then I want you to do two simple things for me. Tell yourself that you are going to make BIG changes in your life in 2011 and then leave a comment to this post and tell me your are in. Pledge today that you commit yourself to working towards personal prosperity for 2011. I want to hear you and know that we are moving forward together, so you have to leave me a comment. I want to know you are listening and you are in.

Only 2 Days Left!
The 2010 Closeout ends in 2 days! My Grab Everything Bundle is now $49, but not for long. It will be $197 after January 1st. Don’t Miss out. Download now at http://mim.io/29258.

Saved the BEST for last ... 7 Money and Marketng Must Reads from Black Enterprise.com.

More to come! Enjoy your New Year!

LaShanda Henry

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5 Steps to Create Your Vision Board for 2011

Every year, my kids and I create a vision board to capture goal highlights for the year using posters, magazine clippings, crayons, glitter, glue sticks -- you name it, it's on the floor on 12/31. We have the music going, candles lit, and complete focus on what we're doing. Here is our process laid out in 5 steps for you. I hope you then enjoy the short video version of my board that was designed using Animoto.com. Head over to Life Vision Boards and get another take on the "how to". They use Animoto as well and you certainly can too - it's a free tool for creating video using images and music. Use theirs or add your own.

5 Steps To Creating Your Vision Board

  1. Get yourself to a quiet place
  2. Imagine that it is now the end of 2011 and you are reflecting back on your accomplishments for the year
  3. Write down a list -- brainstorm freely at first
  4. Now highlight the top 3-5 things you really want to focus on for the year
  5. Cut, draw, and paste images that represent your goals onto a poster board (you can even make a miniature version on an index card to carry with you)

That's it! Now set a date to get the board finished. ;)

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Dollar Downloads 7 Day Challenge

I was lucky enough to obtain the Sistas Who Sell 7 Day Challenge for $1 and it's been worth it. LHenry has given great information so far on how to market yourself and your business using social media, driving more customers to your site and making your site easy to navigate for your current and future clients.

Personally, I haven't logged into my blog in months and I haven't earn a dime with my afflilate marketing. I've learned that I'm being what LHenry calls a "lazy entrepreneur" and that gets you nowhere fast. Listening to the audio lessons for these past 4 days have given me motivation and also idea's for an online business. I can't wait until I'm implementing what I've learned during these 7 days and seeing the results from my hard work and LHenry's expertise.

The journey has only just begun! Let's Get It!!!

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Click here to enter my iPod Touch Giveaway over at SistaSense.com brought to you by I Heart Bkfst. With just a few clicks you can support African American Teenage girls AND enter to win an iPod Touch + General Mills Gift Basket.

More Details Here:
http://www.sistasense.com/2010/12/08/ipod-touch-giveaway-supporting-african-american-teenage-girls-i-heart-bkfst/


More to come!

LaShanda Henry

p.s. Also be sure to download our Color of Christmas African American Holiday Guide (http://thecolorofchristmas.com)
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Happy Cyber Monday!

A few quick things to start your week off on a productive note...

  • Click here to watch the new video tutorial: How to Improve Your Blog Traffic and Keep Visitors on your website Longer
  • Click here to download the complete Color of Christmas Holiday Guide (including new gift ideas) as of today
  • Click here and leave a comment to find or share your Cyber Monday Deals

Cyber Monday Sale
You can download the Sistas Who Blog video series today for $19 (regular $49) using promo code: CYBMDAY.

If you'd like to watch these videos plus the complete Blogging for Beginners Video Series AND get access to my SistaSense Circle Sessions on Increasing your Online visibility you can grab the Blogging for Business Starter Kit for $49 (regular $97) using promote code: NOW49.

More to come! - LaShanda Henry

p.s. Remember you can also post your web business links via our new Color of Christmas Facebook page. And Denise recently shared a Donation Drive for the Holidays for the Kids - review here.
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