Tapping the Talent, Tools and Network Needed for Small Business Success

Tapping the Talent, Tools and Network Needed for Small Business Success


– When you start a family, the first thing on your to-do list is probably not to launch a new business venture. But that’s exactly what Bonnie Marcus did. After years as a wedding planner, public relations professional and event planner, she began to wonder if the energy she put into her 12-hour workdays would be better applied somewhere else.



So, in 2002, while pregnant with her first child, she hit a turning point in her career and decided to launch her own business. Marcus decided it was the perfect time to combine her passion for fashion with her entrepreneurial spirit. As a wedding planner, she had always noticed a lack of stylish invitation options available in the market, therefore she began creating a line of fashionable stationery that was fresh, fun and forward-thinking. Marcus also realized that she needed all the help she could get since starting a business and a family simultaneously would be extremely time-consuming.



According to the Small Business Administration, there are more than 24.7 million small businesses in the U.S.  Many have propelled their success by leveraging their talents and contacts, along with helpful resources available to small business owners from institutions such as Bank of America. As Marcus found, with some smart planning and the right tools in place, you might find that along with building a business, there’s time left over to grow other parts of your life as well.



* Networking

Social networking sites are a great way to connect with other small business owners who understand the issues you’re facing everyday and to secure strong contacts before starting your business.  One option is Bank of America’s Small Business Online Community (smallbusinessonlinecommunity.com). It’s a free and open forum where small business owners can exchange business ideas with their peers and industry experts in real time.  For many small business owners, the rise of such sites has been a critical resource for obtaining sound advice, best practices and lessons learned.  



* Business Plan

A business plan is a great way to organize your ideas into a well-thought-out plan so that your business is positioned for success. If you’ve never written a plan before, simply go online and search “how to write a business plan” and you’ll find a myriad of informational sites. Having a business plan will also give you a better chance of securing funding.



* Bookkeeping

A small business can be complicated and the last thing you want is disorganized piles of paperwork. Create an invoicing system for orders and stick to it. Some small business owners have utilized online invoicing systems. Bank of America’s Business 24/7 portfolio offers small businesses an online invoicing tool that enables users to create and send invoices in minutes, while seamlessly integrating with a customer’s online banking account.  



* Advertising and Marketing

Advertising and marketing are key components for attracting customers and building a business. Creating a Web site, sending out press releases to applicable publications and networking are all key to getting the word out about your business. Make contacts and draw in customers as soon as possible because your business simply won’t survive without them.



* Payroll

Approximately 75 percent of small business owners handle their own payroll, which can be time consuming and complex. Consider using a product such as Easy Online Payroll from Bank of America that can provide online payroll solutions where you can pay all your employees by direct deposit. It will save a lot of time and will keep you from making incorrect calculations on employee withholdings.



* Passion

Like Marcus did before launching her new business, it is important to find something you are passionate about. Small businesses, especially in the start-up phase, require a lot of dedication. If you’re going to dedicate all your energy, it’s best to choose something you know you’re going to enjoy.



As Marcus began designing samples, retail stores quickly noticed her enthusiasm and natural sense of style and began picking up her designs.  By exercising her talent and taking advantage of resources such as those offered by Bank of America, Marcus built a successful brand sold in over 1,000 stores around the world and has created a work schedule that gives her the flexibility to have, and grow, a family.



For more information on the Business 24/7 portfolio from Bank of America, including online invoicing and payroll, visit www.bankofamerica.com



Courtesy of ARAcontent

Quotes For The Day,

You have to have funny faces and words, you can't just have words. It is a powerful thing, and I think that's why it's hard for people to imagine that women can do that, be that powerful.

Ellen DeGeneres

Strategies to Beat the Economic Slump

Strategies to Beat the Economic Slump


With high gas prices and unemployment rates soaring, we can all agree that the economy is struggling. Even in tough economic times, there are some simple things each of us can do to make a difference in our lives. Especially if questions like these are being asked:



When will prices change? Why doesn’t my job pay me more? Who is responsible for the current economic slump?



“There are many things that happen in life that are out of our control. Instead of falling into the trap of victim thinking or playing the blame game, why not focus on the action we can take to make a difference?” says John G. Miller, an expert on personal accountability and author of the books “QBQ! The Question Behind the Question” and “Flipping the Switch.”



Our attitude and the questions we ask ourselves during difficult times can make all the difference and will help us take actions that can improve any situation. Miller says the best way for each of us to practice personal accountability and change our outlook is to ask QBQs, or the ‘question behind the question.’ QBQs are questions that begin with “What” or “How,” contain the word “I,” and focus on action. By asking questions that focus on ourselves and the action we personally can take, we are able to eliminate whining and complaining and move toward positive change.  



“None of us can change the high gas prices, cost of food, or potential layoffs at work. But asking the right questions can make a positive impact,” adds Miller.



For example, many people are stressed financially because of the rising cost of living. Here’s how the right question can lead to a positive action:



Incorrect Question: Why do gas and groceries cost so much?

Correct Question: What can I do to better manage my finances?



“After asking this question of myself, I would be able to examine my personal situation and make changes to my budget,” says Miller. “I would then ask questions like: Do I have a cell phone plan that’s too big for my income? Do I have a premium cable package with 150 channels when I could do with a basic plan or a good book? Do I always have to have a morning latte or drink bottled water? What can I do differently to save money?”



Making positive changes by practicing personal accountability, in light of the current economy, can seem overwhelming. Instead of trying to change everything at once, start with these small steps. These options help us take action in our own lives, instead of focusing on uncontrollable circumstances. Try combining errands to save on gas, buying generic brands, buying in bulk, and conserving energy in the home by turning off lights and only running the dishwasher when full. Little changes can add up -- over time -- to big savings.



And, of course, sometimes there can be big savings in single decisions.



Incorrect Question:  When will we be able to move to a bigger house?

Correct Question:  How can I be more content with the home I have?



Incorrect Question:  Why can’t I buy a brand new car?

Correct Question:  What can I do to better care for the car I have and extend its life?



Incorrect Question:  When will we be able to afford a trip to Disney World?

Correct Question:  How can I create fun experiences for my family at home?



When we ask the right question we can then work to find a solution. For example with our entertainment activities, we can search our hometown for free museums and other activities that might get overlooked. Or, bring the entertainment home. For example, if your family usually goes to the movies, opt instead to rent and create the theater experience with popcorn and treats. Like to eat out? Instead choose a special recipe that the whole family enjoys and work together to cook it.



“Although times are tight for everyone, I can always make the best of a difficult situation,” says Miller. “By asking the right questions and practicing personal accountability rather than blaming others or complaining, we can make a dramatic impact and be a lot happier.”



To learn more about QBQ! and to order both of John Miller’s books, visit www.QBQ.com.



Courtesy of ARAcontent

Top Five Questions Women Have for Life Coaches

Top Five Questions Women Have for Life Coaches


Millions of women often wonder how they can continue to juggle it all or wish they remembered who they “used to be” before having a career, kids or both. Life coaches can help women find their way back to what they really want.

According to MyLifeCompass.com founder and author, Kim Fulcher, four common themes speak to modern women, no matter what life stage they are in. They are:

* Identity – “Who was I before and who am I today?”
* Work Balance – “How do I manage it all and how do I say no?”
* Nurture – “How do I take care of myself physically, spiritually and mentally?”
* Self Worth – “How do I learn to love myself for who I really am and how do I stop feeling guilty?”

Some of the country’s leading life coaching experts from MyLifeCompass.com, an online life coaching community, are now helping women of all ages and walks of life find their passions and, most importantly, reconnect with themselves. Fulcher weighs in on the “top five” most frequently asked questions life coaches hear from their clients:

Question: I’m a mother, a wife, a friend, a sister, a caregiver to my parents and more, but I’ve forgotten who I used to be before I took on all these roles. How do I find the “self” I was long ago? Is she still around?

Answer: Rediscover yourself in baby steps. Get started by scheduling 10 minutes every day to spend a bit of time with yourself. Take time to sit quietly, take a walk, or use a coaching program, like the one offered at http://www.mylifecompass.com/, to ask and answer key questions about who you want to be and what you want in your life.

Question: I never feel like I have any downtime to take care of myself since I’m so busy with work, kids and personal commitments. How do I find the "self" I was before all of this?

Answer: You’ll never “find” time for you; you have to make it. Ask yourself when you can schedule a small amount of time (10 minutes) each day just for you. Then make appointments with yourself, and give those appointments the same level of commitment and respect you would a date with a friend or a scheduled doctor’s appointment.

Question: I’m constantly feeling “mom guilt” since I work outside the home. How do I cope with liking my job, but also wanting to be a good mom?

Answer: You have to stop “shoulding” on yourself. This means you must stop playing the mom game by other people’s rules or your own made up standards and remove the words “should of” from your vocabulary. Ask yourself what kind of mom you want to be, and what kind of example you want to set for your child. The best model for any child involves a happy, healthy, and satisfied mom. If liking your job helps you set this example, it sounds like you’re already a good mom.

Question: I always seem to over-commit. How can I learn to say “no” without feeling like I’m letting someone down?

Answer: Take three steps. First, break your “yes” habit. For the next two weeks, do not accept any invitation or request on the spot. Take 24 hours to consider whether or not you really want or have time to make a commitment. Second, ask yourself why you tend to over-commit. Are you trying to earn love, respect, or friendship? Finally, remember that everyone is busy. While you may fear another person’s anger or disappointment, I’m willing to bet few people will give your decline a second thought.

Question: I used to feel so good about myself both physically and mentally but now I’m overweight and don’t even recognize myself! How do I find my way back to looking and feeling good about me?

Answer: You start by committing to taking care of yourself again. You say you used to feel good about yourself physically and mentally. What were your habits when you were in this place? Did you work out, eat healthy foods or write in a journal? Pick one habit you used to engage in when you liked how you looked and felt, and schedule appointments with yourself every day to recondition this pattern.

For more ways that women can be inspired, empowered and connected, visit http://www.mylifecompass.com/.

Courtesy of ARAcontent