Please watch my video: http://www.youtube.com/watch?v=w01LlO7TKHs

Coming up…..How to determine the Story your business is telling ..

I mention in my video how I performed a Strategic Planning Session for my business, so stay tuned.

I am going to walk you thru performing a strategic analysis on your business.

Of course it is better to consult with a professional, however I am a certified Blackbelt in Lean Six Sigma and I promise to keep it so simple so that even a caveman could do it…lol.

Things to prepare for next week….yes you have homework…gather the following data no matter if your business delivers products or services.

1. Production/ Service Expenses (for services this will be your expenses to deliver the service)- this is how much you spend per product or each time you deliver a service

2. Capital or Income (this is the money coming in) if you are a start-up and do not have capital coming in that’s OK. Categorize if you can so there is a 1-to-1 ratio for service/ product expense to capital or income

3. Overall Business Expenses (Marketing, Website, Telephone, etc.)

I will tell you what to do with this information, next Tuesday.

I don’t think it’s a bad idea to analyze the competition. After all you can learn a lot from their failures and successes, but when choosing how to market, produce, and strategize your product, I think it’s at this time best to not focus on what has worked for your competitors, but rather focus on the needs and desires of your target customers.

I like to compare this to parenting.  There might be a child who is a star athlete or a star student, and you think, this child must have an amazing parent.  What could they be doing that I should be doing so my child can excel as well?  This is the wrong way to think because each child (your customer) is unique and you should parent your child in a way that suits their special talents and needs.  Sure, maybe Suzy Star Parent can teach you a great flashcard method, but you just might have to put a spin on it that will work for your child.  Maybe instead of all words, you have to draw pictures, or maybe it has to be more interactive.  This is the same way when producing products for your customers.  What is it they need? How can you add value to their life? How can you help them be more successful?

Just like in everyday life, we need to stop comparing ourselves to others, and start focusing on how we can be our best self for the ones who matter, and when you focus on generating products and ideas that suit your customer, I guarantee they will love you!

B.Well,

Lyndsay

A friend shared with me a deeply spiritual symbol with me today which is the labyrinth. A labyrinth is used in religion for spiritual reflection. It mirrors the convoluted meandering path of finding one’s self. She shared the image to help me with one aspect of my life, but I know this is really about the big kahuna; about me as an individual overall – my voice, my spirit, my path.

I apologize for missing last week’s entry.  I’ve had some personal issues that seem to be taking a bite out of my stress levels, but they do say the mark of a true leader is one who tackles and prevails through adversity, so although I hate that I must deal with these things, I know it will only make me a stronger leader.

One of the biggest elements of my Business Plan that I’m over thinking is my Business Model. Do I just focus online? Do I try for food speciality stores, spas, salons, and/or restaurants?  Do I do up a food truck? Do I even create another Tastefully Simple type business? I’ve researched and toss and turned on all these avenues realizing for sake of a Business Plan, I just have to put something down, understanding that it’s not set in stone. Still feeling uncomfortable not having a for certain plan, the pages of a business book let me feel at ease.

I finally rented out a copy of the very popular Good To Great book. I’m only in the early readings of it, but I feel as if it has already taken a huge weight off my sun kissed shoulders.

The book places a big emphasis on putting together your bus first then let the team decide on the best path for success. I can’t tell you how relieved I was to what I felt like was someone giving me permission to let go of some responsibilities!

See, it is my nature to feel as if I have to do EVERYTHING. I hate asking favors of others, and I have to admit, my history of asking people to do things has always returned me with mediocre results. But just like I have a tendency to under-date, I believe I just haven’t realized what I have to offer to a business partner, therefore I haven’t aligned myself with the most caliber people.  However that is changing.

The deeper I dive into my company, the greater I’m realizing its potential, and most importantly, the greater I’m appreciating myself.  I deserve a stellar bus, just like I deserve a stellar mate, and I look forward to the day I invite someone to take the drive with me.

B.Well,

Lyndsay

Everyone has a different journey in becoming a Miss CEO, different paths to cross and different arrival times, different lessons, and different outcomes.

Well the further I get into the journey of becoming a Miss CEO, I have found I am finding myself getting deeper into who I am as an individual and as a CEO. As I pull back the layers and understand more of my authentic self, the more opportunities are presenting itself for my businesses……I understand the connection on a surface level but I don’t deeply understand.

However, its working so I will share it with you, I hope this helps. Please watch my latest update: https://www.youtube.com/watch?v=KOMvbj_oVxM&feature=plcp

This is the video that Will Smith shares on greatness, achieving success, and living your dream that I mention in my Vlog:  https://www.youtube.com/watch?feature=endscreen&v=pfWGoLj1JCM&NR=1

Check out the article here.

And the Google Announcement page here.

Ladies, please think ambitiously when it comes to your business and it’s potential growth! Get excited and motivated!

Here is a link to the article: http://www.theatlantic.com/business/archive/2012/06/we-need-to-tell-girls-they-can-have-it-all-even-if-they-cant/259165/

Your website is your hub; link all of your social feeds, advertisements, marketing initiatives, everything to your website. (Note: you need a centralized hub to direct traffic, doesn’t necessarily need to be your website it can be your Facebook page, etc.)

You can create a website now without any website building experience, go to Wix.com and try now for free.

When creating your website you will have an opportunity to insert a title, description and keywords for your website, this information is very important and will help your site get noticed, try the following:

·         The website Title should include your website or business name

·         Descriptions should include relevant keywords to your business, this may include your location, years in business, any accreditations, etc.

·         Add about 5-7 keyword phrases; think like the Customer what keywords will they use to search for your product/ service

Social Channels

Anything that keeps your Customers constantly engaged is always a great idea; I had to reach out to a college intern to assist with the management of my social media. Below are the most common, depending on the type of business you have will depend on the social media channel you will use.

·         Facebook- you can build a Facebook page for your business, make sure to add “like” button and also have a link to your website

·         Twitter

·         Newsletter

Advertising

Facebook Ads- I haven’t tried this yet, but I am planning on trying so I will let you know how it works

Google Adwords- not crazy about, didn’t generate a lot of business

Yellow Pages- generated some calls but did not like the Company’s Customer Service, was charged for services never received and it took 15 calls with 9 different customer service reps to resolve L

Marketing

The strategy is getting your company name out there, the more people see your company name the more comfortable they will be to give you their business. Here are some free and small cost ideas that I took advantage of:

Paid advertisement

·         The Baltimore Sun (yourlocal newspaper)- This had associated costs, however you can direct your message to the a specific audience and this reaches a large number of potential Customers so it is worth the investment

·         Better Business Bureau- this has a membership cost of $250 and  you have to provide lots of paperwork and proof of business, bonded, insurance, etc. ( it may give you a slight migraine but it is worth it, we are a A+ BB company and that carries a lot of weight when trying to get new Customers)

Free advertisement

·         Pennysaver

·         Craigslist- this was very successful *(remember: you have to renew your advertisement every two days so it appears at the top of the list)

·         Manta

·         Angies List- this site requires a certain amount of Customer references to publish your business

·         Super Ads

·         YouTube- yes the strategy you use here is presenting yourself as an expert in some form or fashion in your business. Set out a net of free information and draw watchers to your website (your central hub) see how it comes together J

·         Yahoo Local Advertising-  they offer free and paid services

Please watch my video:

http://www.youtube.com/my_videos_edit?ns=1&video_id=wAo5btFzXd0

This week was another example of that.

I had the pleasure of meeting with and pitching to Springboard Enterprises in NYC – a platform where entrepreneurs, investors, and industry experts meet to build great women-led businesses. Springboard educates, sources, coaches, showcases and supports high growth companies seeking equity capital for expansion.

and

Golden Seeds in NYC  - Golden Seeds is an investment firm dedicated to delivering above market returns through the empowerment of women entrepreneurs and the people who invest in them.

as well as attending

We Own It Summit. - A Summit of leaders to explore women’s participation in high growth businesses and identify solutions to move us forward.

It was inspiring to be surrounded by so many successful – yet super supportive – women. The opportunity in itself to stand up and share the traction that Unbound has made was empowering.

And look at these fun shoes I treated myself to after my Golden Seeds Pitch a Bloomy’s!

Hey an MC needs small wins!