EmpressofBiz, Biz Tip What do you want? Job? Career? Business?

What do want?

 What is it that you want in life? A job? A career? A profession? Or a business? Only you know the answer. Each one requires a set of skills, attitude, preparation,  and dedication with its own set of rewards, risks, trade offs  and challenges.

To me...a job is something you do to bring in money.  It is something you tolerate so you can pay the bills and get on with your life.  Done that...hated it.

  A career is where you have found something that you are invested in and are goal oriented.  Usually it is doing it for someone else and being tied into their goals and expectations ...done that...and did not like it.  

A profession usually means you have spent a lot of time and dollars  being educated to do something hopefully will bring you money, respect and prestige i.e  Doctor, Lawyer, Dentist, Engineer or Indian Chief.  That was not a track I chose to follow.  

For me... I chose to be in business.  It is  the most challenging, rewarding and risky.  Yet I love it and would not do anything different.  When I was growing up "girls did not plan to go into business".  They got a secretary job with a big corporation which would provide safety and security.   

So when I went into business it was totally unacceptable.  It took my family 15 years to even acknowledge that I had a business.  There were of challenges to overcome...which I did.  And yes, there were times when  it was  quite daunting, harrowing and lonely....but thirtyfive years later I am still here..and still loving it.  

If you decide to jump into the entrepreneurial pool  there is  a number of thing you need to succeed besides a great idea.  You need a vision,  money, a business plan, a buying public, a willingness to work harder than you ever had, technical and people skills and plenty of courage, patience and dedication.  

And one other important thing...is Friends to support you and listen to you.  You cannot accomplish this without a support system.  Sometimes your family will be...sometimes they will not.  Make sure in your "business plan" you build your support team...it will be one of your most valuable assets.

And a special thank you to all of you  who have been my friends along the way.

EmpressofBiz, Biz Tips: Empressofbiz, Biz Tips. Awards bring Respect, Recognition & FREE Publicity.

AWARDS...BRING RESPECT, RECOGNITION
   FREE PUBLICITY!

Blue Ribbon Award Winning Writing Tips
JoAnn R. Forrester

            Awards are an excellent way to position a client, business associate or oneself for Respect, Recognition and FREE publicity.  The publicity received is often worth hundreds of thousands of dollar$.  The following tips will give you an overview of writing a nomination that will stand out and shout, “Pick me.”

1. Preparation:  Knowing the RIGHT steps to take, people to nominate and what awards to nominate your nominee for saves time, frustration and losing  submission.

2. READ, know and follow the guidelines exactly for the nomination.    If you have questions… ASK the organization sponsoring the award.

3.  Nominee’s Permission:  It is essential  to ask the intended honoree’s  permission to nominate him or her for an award.    Explain the award and let the nominee know up front  if financial data is required. Some nominees are uncomfortable with disclosing financial information and will elect not to continue.

4.    Supporting material: If there are supporting documents required, start gathering them immediately.   The supporting documents and letters can be referenced in the nomination write-up to illustrate strong points of the candidate.

       5.    Writing:  Give yourself plenty of time to write.  Figure at least 10 hours for each            nomination.  This covers research, interviewing, verifying material and writing. List each criteria and answer that only.   Use short and brief sentences with strong follow-up points.  Long sentences and narratives are boring. The committee soon gets tired of reading and will start to skim over material and you will lose points..

6.      Editing. Have the nominee  review and verify what  you have written.  If you are unsure of a fact, do not use it.   If it states no more than 5 pages, stick to that!

7.      Submission: Make sure All information requested is enclosed. Do not guess on postage if mailing.  Get proof of mailing or delivery verification of nomination.  Make sure you have the name of the person who received it.

8.    Congratulate Yourself.  You did it! Pat yourself on the back! You deserve it and when your nominee wins…it will be a great time for all.

 The author of this article, JoAnn Forrester, of S. I. Business Associates, is an award winning business consultant, teacher, lecturer and writer.  JoAnn has written over 300 award winning profiles for her clients, including the U.S. Small Business Administration National Small Business Journalist of the Year, U.S Small Business Administration National Small Business Person of the Year Award, YWCA Racial Justice Award, YWCA Tribute to Women, SBA Minority Business Advocate, Athena Awards, Stevie Awards and the PA Best 50 Award. If you do not want to write your nomination she does.  JoAnn can be reached at 412-440-6969 or selfimagebz@aol.com. or empressofbiz@gmail.com

Empressofbiz, Biz Tips Job vs Business ownership I love Mondays...what about you?

 I love Mondays...do you?

Monday Biz Tip ;) Good morning...the Monday adventure begins anew. I remember once upon a time...I use to hate Mondays... now I don't. I must have been a terrible employee...much better owner of my own business. For those of you who have "jobs" I really hope you enjoy them. 

For those of us in business and who work at what we love.... our main challenge is time management and focusing on what makes us money...not just doing what we enjoy and is easy for us.   
 Enjoy the day and make sure you do the activities that will bring you money!  :)

Plan your weekly list today...make sure the money making activities are there.  No money...no business.

Empress of Biz, Biz Tips Picking the Right Bank...crucial for your business success.

Part of your business success is having the right bank in your corner.  

Below is a link to an article that I wrote for the New Network for Women. 
Are you with the right bank?  
The wrong bank can create havoc in your business and delay your 
success.  
Picking the Right Bank by JoAnn Forrester.
Read and see if you are.

EmpressofBiz, Biz Tips: Saturday Biz TiP. Make your dollars work in your neighborhood

Saturday Biz Tip  Just a reminder end the year right...shop small business. The majority of dollars you spend at your local florist, hardware store, restaurant, bakery, shoe store, auto mechanic, independent book store, yogurt and ice cream store and etc and stays in the neighborhood. Small business owners pay more their fair share of taxes...versus the big guys. 

Support one another...it is a good business decision.

Empress of Biz, Biz Tips: Technology changes ...where is my Abacus?

Technology changes...30 plus years

Just thinking about technology...the tool I love and hate to use. It is the big game changer in my 30+ year of owning a business.  In the old days we used an abacus..ancient chinese adding machine....just kidding.  What a fantastic change .  Now we have the cloud, laptops, I-pads, cell phone, pc, printers, copiers, scanners, websites, conference calls  Google, Amazon, Aol, Facebook etc etc...
All making a dramatic impact on the way we think, act and do business. So much beeps, squeaks, rings all over the place.  The investment in my small business in equipment is significant...and grows every year.
Along the way I also became a co-developer of a software program (very expensive) Price it Perfect (tm) and now I am a talkcaster (podcaster)The Empress of Biz, Listen, Learn, Listen  using the internet to share ideas, business tips and opinions   Who would of though..now back to my abacus.
PS.  Check your insurance policy make sure all the above gadgets are protected...it can be very costly if you do not have the right protection and backup plans.

Empress of biz, Biz Tips. Sunday Morning...Thankyou

Sunday Morning Reflection:

Thank you...two words...eight letters. 

Often neglected and not said. When spoken with meaning helps ease the way and make new friends and re-affirm old ones. During this holiday season I am grateful for those who have taken the time to be my friend, like my comments, extend a hand in need and just be there as a fellow entrepreneur. 

Thank you! 

And may you be blessed this week with many heartfelt thank you's and good friends.

EMPRESS OF BIZ! Listen! Learn! Prosper! - Stupid Mistakes Biz Owners Make

EMPRESS OF BIZ! Listen! Learn! Prosper! - Live & Recorded Episodes:

Mistakes happen in business. Some minor..some major. Some you recover from...others you do not! Today we discuss the TEN STUPID MISTAKES you can AVOID that will SINK your business. Today's show on the EMPRESS OF BIZ is VITAL to all business owners..... Knowledge is POWER and can Prevent DISASTER if you use it. Join me today as I share from my 30 plus years experience as a business owner, business growth specialist, teacher, mentor and MISTAKE MAKER. My lessons could be the difference between SUCCESS, HEARTBREAK, FAILURE and Bankruptcy Court . Listen, Learn and Prosper with the Empress of biz...JoAnn R. Forrester.

One mistake I wish I did NOT make: 
1.   Start a business without any idea what I was doing.  I was so frustrated with my job and personal life.. I was looking for anything that would get me out.  So of course,  when that opportunity came to start a business with two others who I looked up to...I JUMPED.  I thought everything would be perfect.  Nope! Not the best decision in the world.  While I had some skills I did not know anything about business structure, costs or taxes etc.  I just trusted the older members and did what they said.  Sometimes it worked out...other times it did not.  It took me years to gain their respect and not be treated like a kid.
Lesson Learned:   Think before you leap....Learn as much as you can BEFORE you start...and KEEP on learning...and do not allow yourself to be patronized and treated like the "kid" on the block.  
For more got to the EMPRESS OF BIZ! Listen! Learn! Prosper! - Live & Recorded Episodes:

- EmpressofBiz, Biz Tips Listen! Learn! Prosper! StevieAward winner Regina Broudy

- EMPRESS OF BIZ! Listen! Learn! Prosper! StevieAward winner Regina Broudy
Regina Broudy CEO is Clayton Kendall one of the fastest growing businesses in the Pittsburgh region.  Her latest award includes two Stevie Awards this past November 2013  in  New York.

Listen to Regina as she share her story and her success in a difficult economy.  Regina's company has received a number of  honors in the the past two years including the following:
2012 and 2013 as One of W. PA Best Places to work  by the Pittsburgh Business Times
2012 and 2013 100 Fastest Growing Business in W. PA 
2013 U. S. Small Business Administration Pennsylvania  Small Business Person of the Year

I am proud to say that Regina is a client of mine and S. I. Business Associates.  We have written with her staff her nomination for the Stevie Awards and the SBA Awards.

Awards are a fantastic way to gain publicity and be recognized as an expert in your field. For information on how awards can benefit your business and accelerate the growth of business   please give me (JoAnn R. Forrester) a call at 412-440-6969.  We have created an unusual niche in the awards writing field.  Our clients have won over 300 awards, nationally, regionally and locally since 1999.  Give us a call to get your award winning profile written and submitted.  412-440-6969 is the number to call.

Thanksgiving Thoughts :   
When you are in business you have a tendency to feel alone....after all you are the one who is responsible for... well everything. Even if you have employees...you are still the one that as President Harry Truman stated, "The buck stops here." And that is at it should be. 

The BONUS is the friends you make along the way. Fellow business owners who share with you, associates who help and customers who are loyal.

Today I am thankful for all those who have been my friends, associates, business partners and clients. Thank you for being there and thank you for still being there after all these years.

 Special Thanks to the Following: 
Joanne Quinn Smith of Positively Pittsburgh Live
Jill Kummer of Blacktie Pittsburgh, 
Donna Baxter ofThe Soul Pitt, 
Allen Levine of Pittsburgh Sportsline 
Ola Jackson of OWN
Diane Daniels of DID Associates
Ruth Byrd Smith, Director of Allegheny County M/W/DBE Department

Thank you for everything you do to help small business.  Happy Thanksgiving.

Empressofbiz, Biz Tips Listen! Learn! Prosper! - Marketing & Promoting & Fundraising during the Holiday Season

EMPRESS OF BIZ! Listen! Learn! Prosper! - Live & Recorded Episodes :Marketin , Promoting and  Fundraising during the Holiday Season

JoAnn R. Forrester, The Empress of Biz and Susan Newman of Suzie Brandtastic talk about Marketing  During the Holiday Business with Products to Sell, Promote and Raise Funds for your favorite charity or non-profit.  

How to prevent cyber crime

How secure are your small business assets from fraud, identity theft and cyber crime?

According to the Association of Certified Fraud Examiners (ACFE), companies with less than 100 employees can lose approximately $155,000 as a result of fraud each year. Small businesses also have a higher fraud rate than larger companies and non-business owners. 

One of the most frequent sources of fraud is credit card abuse,  due to the fact that few business owners make the time to go through every line item on their bill.  They also are careless in mixing their business and mingle business and personal accounts.

Other sources of fraud stem from an overall lack of security across the business – such as inadequate network and computer security and a lack of background checks when hiring employees.

Don’t be a victim! Here are some tips you can take to better protect your business from some common forms of fraud and cyber crime.

Protect Your Credit Cards and Bank Accounts:

1,  Since this is a common area of fraud, this one goes at the top of the list. Start by separating your personal banking and credit cards from your business accounts – this will ensure fraudsters don’t get their hands on ALL your money. Separating your accounts will also make it easier to track your business expenses and report deductions on your tax return.

2.  Use your cards wisely. Don’t hand over your plastic or your card number to employees or 

companies with which you don’t have a familiar relationship. 

3.  Switch to online bill pay or make sure you store paper bills securely. 

4.  Use a secure mailbox for receiving and sending bills. If you don’t have one, deposit your mail directly at the post office

5.Lastly, be sure to check your online banking every day for suspicious activity.

Secure Your IT Infrastructure

6.  Every business owner should invest in a firewall as well as anti-virus, malware and spyware detection software. Backing-up is also a must and will make it a lot easier for you to continue working in the event of a cyber attack.

7.  Use a Dedicated Computer for Banking

This is a great idea from Forbes magazine’s 5 Ways Small Businesses Can Protect Against Cybercrime.  Use a dedicated computer for all your online financial transactions and, ideally, make sure it’s one that isn’t used for other online activity such as social media, email and web-surfing which can open up the machine to vulnerabilities. Avoid mobile banking if you can.

8.  Have a Password Policy

Another easy step you can take to protect your IT systems is to institute a password policy. 

• Make sure you and your employees change them regularly (every 60 to 90 days is good rule)
• Set rules that ensure passwords are complex (i.e. contain one upper case letter, one number and must be a minimum of eight characters)
• Use different passwords for different online and system accounts
• Use different banks for your accounts for personal and business accounts.

9.  Educate Your Staff

Employees are perhaps your biggest point of vulnerability when it comes to fraud, but they are also your first line of defense. Hold regular training sessions on basic security threats (online and off) and prevention measures – both for new hires and seasoned staff. Enforce the training by instituting policies that guide employees on the proper use and handling of company confidential information, including financial data, personnel and customer information.

9.  Consider Employee Background Checks

One of the first steps to preventing fraudulent employee behavior is to make the right hiring decision. Basic pre-employment background checks is necessary business practice for any employer, especially for those  who will be handling cash, high-value merchandise, or have access to sensitive customer or financial data.

10.  Insure Your Business

Fraud and cyber crime does happen; however, you can still seek to cover your damages by purchasing an insurance policy that protects you against any losses that you may incur from crime or fraud. 

Make sure you know  what your bank is willing to do to help you out if your credit card or business account is compromised.

Information from www.sba.gov and recommendations of clients of S. I. Busienss Associates.

Monday Biz Tip :) Good morning...the start of a new week. Let's see how we can make our week soar. How about doing the following:

1. Call your best customer and check to see how everything is going. And if everything is going well...ask for a referral.   If there is  a problem FIX IT IMMEDIATELY.

2. Call your suppliers and see if there are any special deals that may help you cut costs.

3. Just finished a job for a customer...make sure you send a thank you...if it is a big job...send more than a card.

4. Make an appointment with your Insurance agent and review your policies...better now than when a problem hits and you are not covered or under covered.

5. Surprise the people you work for and give them notice for their good work. 
Remember... You get more with sugar than vinegar.

6.  Ask your employees what can be done to build business.  Get them involved,  reward them and thank them for their efforts

7. FIRST IMPRESSIONS COUNT!  Take a walk outside and come back and look at your place of business...is it inviting? Attractive?  Is the coffee fresh?  

8. MAKE YOUR LIST OF WHAT YOU WANT TO ACCOMPLISH THIS WEEK...AND PUT IT ON THE WALL WHERE YOU AND EVERYONE CAN SEE IT.  

9.  Check your attitude...is it working for you or against you?

10.   THINK and ACT POSITIVE.  The glass is BEING FILLED...  NOT emptied. 

S. I. Business Associates has been guiding small business to success since 1975.  Let us help you achieve success.  Call JoAnn at 412-440-6969.  

Empress of Biz, Biz Tips DEMOGRAPHICS... Whose your custOmer...FREE INFO

Demographics...The Who, What,  Where, What,  When & How of your Market.  You can have the best product/service in the world...but if there is NOT ENOUGH CUSTOMERS to buy your product at the RIGHT PRICE you  will go broke.  Below is information on FREE information you can use to start answering the 5 W's & H of your market.  Best example of your tax dollars at work!

1. 
   
2. 

   S. I. Business Associates

   about an hour ago near Pittsburgh

   Saturday biz Tip #2: Are you thinking of starting or expanding your business?  Then you MUSTknow your potential customer, where she is, income , age, etc. This information is called Demographics. Below is an overview of where you can find the stat's on your potential customer. This info is FREE...and Reliable and extremely helpful.
   Information is from the SBA.gov site...check it out..a good resource.  www.sba.gov
   
   Demographics are the characteristics of a human population. This information is often used by small business owners to conduct research into where opportunities exist within their market and in developing appropriate business and marketing strategies to target customers. Use the statistical resources below to help you find out more about the U.S. population and uncover information that can be used in your business research efforts.
   
   American FactFinder
   Provides access to a wealth of population, housing, economic and geographic data from the U.S. Census Bureau.
   State and County Quick Facts
   Provides frequently requested Census Bureau information at the national, state, county and city levels.
   Current Population Statistics
   Shares information gathered in a monthly survey of about 50,000 households conducted by the Bureau of the Census for the Bureau of Labor Statistics (BLS).
   Labor Demographics
   Makes data that has been collected by BLS available for specific demographic categories including sex, age, race and ethnic origin.
   Social Security Fact Sheets for Demographic Groups
   Offers fact sheets for all demographic groups including women and young people.
   U.S. Census Bureau Quick Facts
   Gives access to facts about people, business and geography

   
   

   This is a great use of your tax dollars..information that you can use to answer to your marketing questions!

Empress of Biz, Biz tips..Business emergency plans..crucial for survival

Sunday Biz TiP: Reflection: One thing we do not like to do is think about what happens if......So the majority of us don't. Emergencies and bad things happen...as responsible and caring business owners we need to have an action plan when problems occur. Being prepared does not prevent disaster...it does help to cope, heal and restore.

This week I will be concentrating on some of the things you need to think of when problems occur.  Whether you are a home based business or  Walmart...life happens.  The right planning makes all the difference in the world.

First thing to do...LOOK AT YOUR INSURANCE POLICIES.  Home, business, personal, liability, car  etc.  Do you understand what the polices are saying.  IF NOT ....CALL  your agent and sit down with her and make sure you know your coverage and risks.

IF YOU ARE HOME based...make sure your office and all equipment is covered.  We often leave ourselves exposed and vulnerable.  

I cannot emphasize this enough  Make sure you understand your policy and risks.  

Empressofbiz, Biz TiP...What is the ending for your business?

HOW DO YOU WANT YOUR BUSINESS TO END?  

Do you want to sell it?

Pass it along to your family or an employee?

Just close it?  

We spend a great deal of time planning to open our business...but very 

little on how we see ending it.  

 Your business can be your "nest egg for your retirement? 

It can be golden goose that gets you started on your next adventure

  Or it can be something that just keeps you busy and occupied until you decide to retire. 

 Each goal is  is different and requires planning and making different kind of decisions. 

If want to sell your business your strategy is different than those who are planning to keep it .  

One thing you will NOT DO.  Is  TAKE ALL THE PROFIT  of THE BUSINESS. 
YOU Need to build VALUE and net worth into the business. In other words...you cannot play the tax game with the business...gotta show it is worth something to get a good buyout.

Some additional factors to consider if your plan is to sell the business.

1. You need to determine what you have to sell. 
2. How much you want for it?
3. What type of person you would want to own it?
4. How long do you want to own the business?
5. Are you willing to "hold paper"? 
6. How long are you willing to help the new owner?


Selling a business can be a profitable venture for you and a good start for a new business owner...if you plan it right.

ELIMINATING the CONFUSION

COST ACCOUNTING vs TAX ACCOUNTING

Accounting, a word that conjures up the image of Ebeneezer  Scrooge sitting at his desk with quill in hand entering numbers in a ledger.  Not a favorable image is it?  Yet keeping records is essential for business success.  Few companies make it a priority to keep their records up to date.  Nor do they take the time to understand the difference between tax accounting and cost accounting.  Both are necessary and yet each one has a different goal. 

Tax accounting, is what you do to make various government entities happy and report to them.   It aims at taking advantage of all the opportunities the government offers to reduce tax obligations. It doesn’t care about all the details of cost.  Instead it deals in gross figures.  It accounts for insurance premiums paid rather than rates of insurance, for example.  It allows plans of depreciation for investments rather than expected time of replacement.  The lower the profit calculated, the lower the tax obligation.  It is difficult, if not impossible, to develop proper pricing from tax accounting.

Cost Accounting,  is aimed at calculating all of the costs incurred in producing a product, service or project so the business owner or manager knows how much the company must charge for the item.

Management priorities are to stay in business, recover the owners’ investments in the business itself, earn a reasonable return on the investment in the business for the owners, pay off company debt, build a reserve to reduce the need for debt and produce a reasonable profit, after taxes, for the company’s growth.

In order to accomplish these objectives, cost accounting must allocate costs where they belong. Deductible  taxes and employee benefits must be attached to the proper categories:  materials that become an integral part of the project, labor with varying rates for different categories, such as, social security, medicare, unemployment insurance and retirement benefits.

Other project costs must be added, like the transportation of materials and workers, the cost per hour or mile for each vehicle or piece of heavy equipment (original cost, years of life, maintenance costs, repair costs, insurance costs and the expected annual hours of use) and subcontractors fees.

Administrative costs, finance costs, plus commissions and royalties must then be added.

Neglecting the tasks and details of cost accounting for pricing products and services properly is one of the reason ninety percent of businesses fail within the first ten years of their beginning.

                     - JoAnn Forrester & James W. Martin, SI Business Associates, 412-440-6969

Hate to do this...give us a call...with our Price it Perfect Cost Management,(TM)

 CFO in a Box System it is a snap for us...412-440-6969.

P.S.  Watch for our upcoming E-book on Pricing...coming soon!

EmpressofBiz, Biz Tips Attitude for Monday

Biz TiP:  Monday Attitude:   Bosses...you want productivity? :) 

Instead of gloomy faces & people dreading to come to work? :(

Then make Monday morning meetings positive.  If you have problems...make it HOW do we solve this?  Instead of who can we blame?

Monday sets the tone for the week.  Make it sure it is one that  gets people working together instead of hiding in their office trying to escape blame.