Financing Your Business..Yes it is possible

Part 1 Financing Your Business.

Need to finance your business and not sure what to do BEFORE you go to the bank?

There are a number of things to do to get yourself ready. These steps apply to start ups as well as growing or well established businesses.

First check your personal and business credit score. If there are negative remarks on your score check to see if they are correct. Up to 30% of credit reports are incorrect.

Second: Make sure your bookkeeping and accounting is in order. You will need up-to date balance sheet, profit and loss statements. Understand what they mean!

Third: Check the status of your payroll taxes...all is paid and on time.

Fourth: if you have personal student loans...make sure they are current.

Fifth: Any Agreement that you have regarding taxes make sure it is being kept and up to date:

Sixth: Have copies of the last three years of personal and personal tax returns, they are part of the loan package.

Seventh: Check insurance coverage and have copies/proof of coverage

This is just the first part of several articles. Remember to WIN at the financing game you need to be prepared and when you go into the banker you are not fumbling around for vital information.

If you have questions please give us a call 412-440-6969, or sent me an e-mail at selfimagebz@aol.com. SIBA has helped raised 40 million dollars in small business loans. We can guide you through the process.

Stay tuned for Part 2

Hello all..something you all should know and support On Saturday November 26, 2011 Support Small Business Saturday!

Support Small Business Saturday is a national movement that marks a day to support the local businesses that create jobs, boost the economy and preserve neighborhoods around the country.

First there was Black Friday, then Cyber Monday...Now, Small Business Saturday Join us in this event that drives shoppers to local, independently-owned merchants.

Watch for further details from me...and remember..Apple was once a seed..watch and learn how small business grow and build a stronger America.

Check out the link below

http://www.wipp.org/resource/resmgr/Docs/SBS_Fact_Sheet.pdf

Most Business Meetings are NOT productive

Most business meetings are unproductive. Usually they end up too long, little decided and people turned off. You can change that! I suggest the following:

1. Decide what needs to be accomplished today and FOCUS on that.

2. Each morning take ten minutes and decide what are the most important tasks for your employees and communicate it.

3. Check on them several times with mini meetings. You will be surprised how much will be done.

4. Make sure you thank them as they do it and correct problems as they occur. Do not wait to give praise or correction.

5. When you do have staff meeting...have an agenda with time lines and stick to that.

6. At the meeting make sure you tell people what happened that is positive.

7. Present what is going wrong in the approach of "How do we solve this". ..not who do we punish.

Most of all think of meetings as a chance to motivate, communicate and inspire.

To advertise or not to..special guest Diane Daniels

You are invited to listen to the EMPRESS OF BIZ! Reinvent in Rugged Times on www.talkshoe.com

So you think you cannot afford to advertise..well guess what you can..in fact you have to.

Special guest Diane Daniels of D I D & Associates, veteran business owner , journalist, writer and p

Listen to Diane Daniels as we discuss what you can do and what you should use
To advertise or not to advertise...that is the "question" and the worry of many. Without advertising people do not know you are in business. Yet? You worry? How can I afford it. Special guest..Diane Daniels of D I D & Associates will be talking to you about What you can do and how to afford it. Diane is a 20 plus year business owner, writer and promoter. She has many creative and cost effective methods to share. Remember if you cannot listen now you can always listen later, Just go to www.talkshoe.com and then go to Caller id 80050.

Customer Service is back!

One of the side benefits of the "great recession" is customer service is back! Should of never gone away!

Expecting employees to know how you want customers treated is foolish. Managers must demonstrate by their actions good customer behavior. They must consistently instruct, correct, confront negative behavior and notice when they get positive results.

Also employees need to be empowered to correct mistakes immediately. Give employees the authority to correct a negative situation quickly and satisfactorily.

Example: Recently in two days I was at two chains for lunch.

Chain A: There was a hair--uck-- in my soup. I called the waitress over and eventually she got to my table. I pointed out the problem. She did apologize and said I get you another bowl. By that time..I did not want any..so I said no thanks. And that was it.

Chain B: The next day there was a problem with the salad. I called the waitress over, she apologized and offered to correct the problem and said there was no charge for the lunch and brought over a dessert. Now what restaurant do you think I am going to go back to?

Simply put.. Treat your customers as gold and gold will come back to you.

What happens when things go RIGHT!

Are you the type that gets worried and apprehensive when a plan works out? Do you think something is wrong because you made money on a job..Did I miss something.? I know something is going to bite me on this. Many business owners are prepared to handle things going wrong...but when the things go right...then they really worry.

I have watched a number of my clients and students really make their lives miserable by worrying about success. I am not sure how to correct it for every one . Each person has their own individual reason for worrying, but what I can recommend are some basic tips to stop the success worry.

1. Use visual reminders to re-enforce it is OK to be successful.

2. Every time you find yourself worrying put money in a "worry jar". One client I know started putting $5 in a jar each time he caught himself worrying...it quickly got expensive. He decided it was too costly to worry...and stopped.

3. Do something nice for someone who needs it. A good way to put those extra dollars to work.

4. Ask a good friend to help you change yourself . Every time she hears you 'worrying" she asks you why.

5. Learn more about your business.. sometimes we worry when we know we are skating by.

6. Ask yourself what is the worse thing that can happen if I am successful. You might be surprised at the answer.

7. If you are really devoted to worry...make yourself worry intensely for a half hour each day. No smiling no joking..just worry and frowning...it soon gets boring.

8. Give us a call..412-440-6969! We like to work with people who want to adjust their attitude.

Life can be so much more pleasant when we decide to enjoy it.

What do you know...about your business?

Yesterday we briefly talked about reviewing what you have learned about your business and what you have learned about during the recession. Today I am going to list some vital questions that need to be part of your review. Take the quiz below and see how you answer.

1. Who is your customer?
2. How do they find you?
3. When do they buy from you?
4. Why do they buy from you?
5. How much money do they spend with you ?
6. How often do they buy from you in a year?
7. What is important to your customer... Price? Value?
8. What do you have to do to get them to come in your door, click the mouse or pick up the phone?
9. How do you determine what price to charge your customer?
10. How much "profit" do you make on each sale?
11. What is your break even point of sales?
12. Are you satisfied with your income in the business?

A savvy business owner knows these answers and she is also aware that market conditions can quickly change the answers. If these are tough questions for you to answer and you are muttering to yourself why should I do this...stay tuned folks as I write about this further.
Or give us a call 412-440-6969 or e-mail: selfimagebz@ aol.com
and let's talk about your answers
Tip of the day: THINKING about your business ..is also important as DOING business.

Adversity makes us STRONG

I am a Pittsburgh Steeler fan, and have been rejoicing that we beat the New York Jets and we are off to a 7th Superbowl. This team is like the city it thrives on adversity. Tell us we cannot do it...tell us the odds are against us ..we are the under dog..and we are going to find a way to beat the odds.

Small business people are like the Pittsburgh Steelers, we thrive on the odds being against us. We usually start with the cards stack against us..do not have the 'franchise player's.. or the huge contracts and vast cash reserves...yet somehow we survive and make it flourish. The past couple years have been difficult and many business have not made it, including some very big ones. Lessons have been learned and it is time to use those lessons to build a stronger business and future.

One of my most resilient clients, a woman owned contracting company, besides the lesson of managing money, the most important thing is managing employees. Her employees made all the difference in her business. They have looked for ways to constantly improve the company, be competitive and cost efficient. Her next challenge will be to reward the employees appropriately. We are working with her on establish a bonus plan based on her break even point and the growth of income in the business.

The recovery is here... slow... but it is here. Start thinking of what you have learned, write it down, share with colleagues and employees. Then work on the growth strategy of how you are going to build your "new business" in the new economy.

Tip of the day: Take an inventory of the business..not just counting things..but put down all the information pertaining to your business in one place and have back up copies off site.

For a business review check list give us a call at 412-440-6969

Make it a positive day folks and go Steelers!

Numbers Tell a Story

Ok admit it. When you hear your accountant, banker or other numbers type talk about "the numbers", most of us wish we were out the dentist having a root canal. This is Not the fun part of business. But...numbers are not something that just jumped out of the air to annoy you...they are the results of the decisions you made on HOW to use or spend your money. Some of the decisions you make are "wise" and some are are not. Most of us look at money as something to use..spend on what we need or want to get things done..instead of a TOOL. Looking at money as your number one tool puts you in control. Periodically we will be talking about MONEY and how you can be in charge of it, instead of it in charge of you.
Have a great day and start making a plan on HOW you are going to use your "dollars and sense" wisely.

Daily Thought: Monday

A business plan only works---if you work it. Just writing one to satisfy the "money people" and then tossing it in the corner and winging it..can and does create hard times and possibly bankruptcy.

Daily Thought: Arizona

I was struck with horror when I heard the news of the rampage in Arizona. The rhetoric of hate that dominates our politics has to cease. The words that have been so casually thrown about.... by those who seek power have found there mark.... with someone who acted put their words.

It is time we all stop and say enough us enough...we are Americans...and we live by the rule of law and fair play. We refuse to become a nation of bullies. For all those who have been silent and have sat on the sidelines while words of hatred, prejudice, extremism and threats are thrown about---it is absolutely crucial we speak and demand that we will not be part of the culture of hatred.

If not...then the risk we run is great. Once guns and violence are seen as the method to be used to intimidate and change government policy, we have lost all we thought we were.

As I pray for the congresswoman and all those who have been killed or wounded, I also pray for the soul of our nation. May we remember what we can be...instead of what we are becoming.

Happy New Year...tip of the day

May 2011 be a good year of renewed enthusiasm, vitality, creativity and energy. Tip of the day..Call me old fashion...but folks for important documents..things you do not want to lose..have back up in several ways..paper, electronic and off site. One of my clients who sold computers and related services was so proud that they went "paperless" . They had gotten rid of tons of old paper records and busy telling everyone to get with it.... especially me.
When BAM! A terrible storm came along, torrential rain, high winds, hail, lighting and POW their building was hit with a powerful thunderbolt...and every system was fried! What a mess..recovering took months.
So think back up folks ...if you cannot afford to lose it..find a way to protect it.