What Do I Know About Radio?

What do I know about Radio? Nothing. I know that I have a product and service that I am interesting in promoting. I have contacted a local radio station to discuss opportunities to promote my business. It is 500.00 for an hour of afternoon programming. I do not know what to talk about, or what questions to ask to get the best deal. Total Number of Listeners? What are your demographics? How do you make sure radio promotion is a good deal? I will let you know as it unfolds. My first step is going to be to create a podcast.
How to Start A Podcast:
http://computer.howstuffworks.com/how-to-podcast.htm

What is Marketing Anyway?

I have a marketing degree. They may have been the most worthless classes I had in college. I can say I still don't understand what Marketing is. Is it Advertising, P.R.? I have found it doesn't matter what you title the process there just must be a defined process. I have spent a lot of time working with no plan. I have begun to develop a marketing plan and process to implement. I did not think it was necessary because I worked in Marketing and thought it was inherent. It apparently is not. I am now defining my target market, and competitive advantages. None of these things will make me money today, but they will ensure stability for growth in the future. I came across this website yesterday, www.ducttapemarketing.com, I am interested to learn more about their process. They are local in Kansas City so I hope I am able to get an interview. The first step in my marketing process is to define my target market.

Tax Invasion!

Every Entrepreneur has to someone settle how they are going to pay taxes. I currently use a bookkeeper and CPA. I am trying to learn Quick books enough so that I don't need the bookkeeper and can file my own takes. I just paid taxes for the month and barely made enough money to pay myself. I saw this coming and was able to store a little bit away. I would have been better if I did not have to pay the Bookkeeper which is why I am now enrolling in a local class about taxes. It is my responsibility to pay them and make sure they are done correctly. I just find it interesting because I had a vision of myself as an entrepreneur where I outsourced and paid someone to do everything. The more that I go along the more I realize I need to take more control and pay people less. Maybe there is a better more economical solution, and I will try to find it but until then I will be forced to figure it out on my own.

Taking Control

I have picked up The 4-Hour Work Week. I have read reviews, and have chosen not to read the book for several years due to speculation. I think the author is delusional and is a snake oil salesman. However, there are some tactics to be learned such as outsourcing problems. Creating a streamlined system, and creating a system that runs without you. As every Entrepreneur I have encountered the goal is to walk away from a running business. Entrepreneurship however is not a trip through South America it is about working hard. At least that is what I like about it. I enjoy the work, the struggle to make it work. Finding solutions to make the struggle easier is certainly appreciated, but so far The 4-Hour Work Week has not defeated my speculation.

Self Discipline

http://finance.yahoo.com/expert/article/moneyhappy/183910

The hardest part of being your own boss is self discipline. There are no hard deadlines, no one that is holding you accountable. This is a very interesting article that quickly shows that having some self control helps in the long run. I think everyone struggles with it. I decided to read last night rather than come into the office. I probably should have come into the office.

Being Romantic

http://www.nytimes.com/2009/08/23/business/smallbusiness/23venture.html?em

I read an interesting article this morning. I find it fascinating to read about small businesses and how they fill a need in the marketplace. It most certainly will happen as more people lose their jobs or are not hired. The need for income is real. I think there is a romanticism with entrepreneurship in this country. Not that it is entirely a bad thing, but there are realities that need to be pointed out. The woman in this article has a husband who makes an income. She has the ability at least in this article to not bring in her income and work on a hobby business. I fully support businesses like this, but also see the real need for a solid business plan with growth and revenue.

Foot In the Door

I am working on getting in front of a potential client. He has responded by email but I have not heard anything else. I have left information at the office and have left voice mails. I am trying to find the best opportunity to present new products. I just need to get past his initial objections, but maybe that is all of the work. How do you make inroads?

Liablity

My sister has started a new company. It is www.fourcornerscreative.com. I am so happy for her and excited as she starts this business. She has actually been running the business for two years and just started to gain some great traction. She has overcome a lot of obstacles. The latest that I find interesting is her need for a liability waiver. I have never had to have a liability waiver in anything I have done, but maybe I should have. She had to go to legal zoom to find the waiver and properly format it for her business. I am so proud of her starting and will talk about her challenges more here, but for now if you live in New York City check out www.fourcornerscreative.com for dancing opportunities.

Product Product Product!

As essentially a middle man I live in a constant flux of product marketing and prospecting. I have spent three hours on the phone this morning discussing potential product opportunities. I have probably talked to twenty five product providers. Some have been very helpful and some have been a waste of time any money. I am trying to learn the process to better determine the products that will help my clients. I have tried to really balance my time to ensure this product will create revenue and help clients. But at the end of the day the truth is I just hate conference calls. They are second to being copied on an email.

BootStrapping

I recently sat down to go through expenses. I have eliminated mostly everything trying to get down to bare bones expenses. Bootstrapping is one of the most important aspects to starting a business. It is crucial for long term success. Controlling expenses is not easy. The office as an expense right now is the biggest question. The majority of my work I am out of the office, but when I am in town it is nice to have a location to work from. It creates a good separation from home. I wish there were a calculator to plug in expenses and it would spit out what could be cut. I guess I will just have to keep weighing it in my head.

Accounting

Accounting is one of the most challenging aspects to owning a business for me. I understand the large concept of debits and credits. I understand how to balance and make sure everything gets paid. I have problems when it gets more complicated. I do not know how to file taxes to receive the maximum benefits. I do not know what system best classifies everything. For instance how do you classify an expense on a desk. Does it just go into business expenses? I have toyed around with Quicken but have not been able to get very far. I have sat for hours with books open and just glaring at the screen not getting anywhere. I am going to take another look at Quicken, but I so far have not found an alternative to our accountant.

Non-Profits Seen opportunity

http://www.chicagotribune.com/business/columnists/chi-mon-minding-l3c-aug10,0,5321379.column

L3C facts

--An L3C must have a socially beneficial purpose.

--It's designed to let foundations make program-related investments more easily.

--Investors can earn a return and hold equity in the company.

--L3Cs are not tax-exempt, and contributions to L3Cs are not tax-deductible.

--Other states that have passed L3C laws: Vermont, Michigan, Wyoming, Utah, North Dakota.

The article explains a new law that would allow non-profits to attract more capital and become more competitive in the private marketplace. I agree that non-profits should have the opportunity to compete. My problem with laws and opportunities such as this it gives an unfair advantage. The non-profit has advantages as does the private sector. They should both have to capitalize on their strengths. I would bet that this non-profit profiled is not competitive not only because of the federal filing status but because of other indicators as well. It is important to allow organizations to compete with each other, and that means not creating laws that make them more or less advantageous.

Perseverance

This weekend I took some time away from work and relaxed. It is the first time I really tried to step away and take a break. I did not bring my laptop or my phone. I went to the lake and just enjoyed the time alone. I went for a hike on Sunday through a State Park. There was a natural spring, and a walking trail through the hills. It was a great experience to be outdoors and take some time to be quiet. While I was hiking they had some history packets along the way that talked about the making of the park and who originally purchased the land. I read a short synopsis of the park and how it has come to be protected. The land was bought by a wealthy Kansas City businessman. He bought it to build his recreational home on. He built the home and then died in a car crash. They had interesting quotes about how he amassed his fortune and what kind of a man he was. The most inspirational portion of the text was a quote from his son. He said that his dad would push through whatever problems to find a solution. He went past where many men would have quit. That was his secret. He pushed where others would have turned back.
I think as a business owner that is always happening. There is always a struggle and there is the easy road to stop and turn back, or to keep pushing through. As I looked up at the huge castle this man was able to build in the 1990's I realized not much has changed. It takes hard work and perseverance. I hope one day I can say I pushed through walls when other may have turned around.

http://www.mostateparks.com/hahatonka.htm

Keeping Yourself Legal

My sister is starting a dance studio in New York.  She has identified her audience, and has actually started with a great foundation.   She currently teaches out of apartment homes and markets to dancers interested in dance but also other pursuits.  She is not planning on creating a conservatory.  She has recently been offered a position which requires her to hold a Tax ID number as well as create a legal entity.  She has done some research on Legal Zoom.  Every state has different prices, and New York is expensive.  She is now having to weigh her options of talking to a Lawyer versus doing something herself.  She is right now setting up meetings with a couple of lawyers.  Setting this up correctly will allow her growth in the future, but getting there is the hard part.

http://entrepreneurs.about.com/od/businessstructure/ht/llcsetup.htm

http://www.legalzoom.com/limited-liability-company/limited-liability-company-overview.html

How to Create a Newsletter

Every Business has the opportunity to expand business and build customer base with a newsletter. You need to take the time to plan out what your newsletter is going to talk about and how it is going to drive your company business. It takes time and a good design, but most important is content.
1. Think about who your audience is - Who are you trying to write too? It is important to maintain a focus on your core audience.
2. Design - What is going to be the design? Who will design your newsletter? There are several companies that will design a newsletter for you.
3. Tracking - How will you track the newsletter and response?
4. Content - What are you going to say? How will it help your audience? How will it help drive people to your business?
5. Intervals - How often are you going to send out this newsletter?

There are just some of the considerations when undertaking a newsletter. You can use www.constantcontact.com or www.myemma.com for the design and tracking. A successfull newsletter will help build a brand and customer interaction.

To Franchise or Not To Franchise

I have had several discussions with family members discussing the advantages to a Franchise, and mostly about what can go wrong. I have worked for a franchiser and saw the great advantages as well as the failures. The primary concern when looking for a franchise is to look at the inherent business principles. The Franchiser should be able to show a solid financial performance and growth projections. You should not become involved with just a good idea, with the possibility for growth. The Franchiser is providing you with an idea, they should not be selling an idea. They should be able to prove their model works. As a Franchisee you have the opportunity to expand upon a solid idea and reduce your risk. There will always be a risk of failure, but by ensuring that the Franchiser is selling an intrisictly important business will help reduce risk.