But I am a Baby Boomer Entrepreneur!

It’s been on the news, so it must be true. Baby Boomers and those over 50 are boosting the number of SME’s in Europe. One group of “Silver Foxes” have gone further and have established a fast growing international collaborative consultancy, learning and development, wellbeing, institute and business services cooperative. With his 70th birthday in 2015, Retirement has brought fresh interest and motivation. So why have Ricky Kujawa and his team involved themselves in a new business venture at this time in their lives (only a few of the 24 current members are under 50)?

“Why not”
Ricky Kujawa, President.

After a busy lifetime which has included extensive travel and opportunities to observe other cultures and organisations in many sectors, Ricky still gets excited about the idea of being able to facilitate change to the benefit of organisations, their shareholders, their people, their customers and their communities. “Who would want to stop doing that? Not me for sure. Says Ricky

“It’s like Mount Everest.”
Archie Waters, Secretary.

Archie’s view is that like the mountain in question it is there. There is an opportunity to make a difference and in doing so to gain new insights into the world and other cultures. Archie has a long history of involvement in social enterprises, outdoor learning, and mediation and is a qualified Psychologist. He also skippers a popular boat trip on Loch Lomond. Clearly he is not someone who wants to sit and watch the clock tick on when there are mountains to climb, real or physcological. “I want to make a difference. I have already travelled to countries that I never imagined I would ever visit and have learned so much from those I met.”

“I’m not old, just older than more people than I was last year.”
Lesley Campbell. Executive Vice President, Learning and Development.

Lesley awakens each morning to a view of the firth of Clyde that would feature in tourist brochures for holidays in Scotland so why is she involved in starting a new business? Well, as this is being written she is en route to Dar es Salaam followed by Johannesburg and then Cape Town so maybe she just likes a change of view. Not so according to Lesley who feels that she has something to give to share with others called experience.

“I am too young to stop working.”
Steven Whalley. Executive Vice President Marketing and Business Services

Steven recently “retired” after a very successful career in Marketing from a very high level post in a world renowned Financial Services company. Faced with the prospect of life without pressures and deadlines, Stephen chose: “A life with stress and deadlines, but they are my deadlines.” Stephen wants to help others with marketing and communication issues but he has not stopped learning. "I have enrolled in a course which will bring me up to date with Social Media and it is accredited. Even better, the Scottish Government are funding 50% of the cost and PTPI Ltd the rest."

“Collaboration suits how I like to work.”
Booker Odenio. Ambassador for East Africa.

Booker has enjoyed a busy, productive and rewarding career. He sees no need to stop. Instead he wants to collaborate internationally to create win-win positions for East Africa, its institutions, organisations and people. I enjoy collaboration so being involved with an international cooperative is ideal.

Written by

Ricky Kujawa

10 Tips for Using Social Media in Holiday Ecommerce Marketing

The holidays will soon be upon us. With just 26 days between Black Friday and Christmas and a reported 15.5 percent growth in ecommerce sales at stake, retailers should leverage every marketing opportunity.

Social media is one such opportunity. It can help extend brand reach, build awareness for promotional efforts, support overall sales activity, and do so at minimal expense to the merchant.

With that in mind, here are 10 social media marketing tips you can employ this holiday season. 

1. Use Social Media as a Layer, Not a Channel
Don’t think of social media as an individual channel, but as a layer that blankets other marketing activities. While it may not prove to be a catalyst that directly contributes to sales, use of social media can support everything else you do. The key is to think omnichannel and integrate social media into every activity.

For example, tie social media into email marketing by asking people to share your message with their friends and followers. Add social sharing buttons (including the Pin It button) to product pages on your website. Create content on your website that people will want to share, as well as social network content that links back to your ecommerce site.

Read my post, “8 Ways to Integrate Social Media with Existing Marketing,” for more ideas. 

2. Decorate Your Social Media Graphics with Holiday Themes
Almost every social network utilizes profile images and cover graphics. Some, like Twitter, also include background images. Put your shoppers in the holiday spirit by updating such imagery with seasonal themes.

If you do not have access to a graphic designer, sites like fcoverphotos.com or Canva offer plenty of ready-made images. Pixlr, a easy-to-use photo-editing tool, enables you to overlay text on graphics. You can also achieve the same effect with PowerPoint.

Example of fcoverphotos Facebook Christmas cover graphic.

Canva is a do-it-yourself image creation and editing tool. 

3. Give Your Content Visual Appeal

One of the biggest social media marketing trends to emerge from 2013 is the use of visuals. So, in keeping with changes to profile and cover graphics, add some visual spice to your holiday posts.

Facebook timeline post graphic featuring a Christmas sale.

As a general rule, include a graphic with most of your social posts. Add a graphic element to blog posts so that when visitors share your content on social networks, the image will appear along with it. 

4. Use Pinterest to Inspire Shopping Ideas
Pinterest is especially popular during the holiday season as people look to it for inspiration on everything from Halloween decorations to Thanksgiving table centerpieces to Chanukah and Christmas gift ideas.

Two simple ways to build on that interest include creating holiday-themed boards and adding Pin It buttons to product pages on your site. 

5. Run Contests on Facebook, Twitter, and Instagram
Contests are a fun way to utilize social media, especially at this time of year. Sites like Offerpop and Antavo have several out-of-the-box contest solutions to make it easy.

Antavo offers six different types of contests. 

6. Send Personal Holiday Greetings to Loyal Customers

Businesses can take a cue from individuals and send special holiday greetings to customers via social media as a way to express appreciation. It’s an unexpected message for them that could lead to increased sales for you.

Create a Vine or Instagram video and post it to your Facebook Page timeline, send out direct messages to customers that follow you on Twitter or host a Google Hangout with your most loyal customers just to say hello. If you happen to be friends with customers on Facebook, send an e-card using an app like the one from 123 Greetings. 

7. Create Relevant, Interesting Content
Posts to your blog, Facebook Page, Twitter feed or another social network should not be just about you and your products. Think in terms of creating content around topics of interest to your customers, particularly during the busy holiday season.

That could include creative seasonal decorating tips, a list of ways to reduce stress during the holidays, ideas for making the holidays more meaningful, inspirational quotes, and more. 

8. Support Organic Efforts with Advertising
Social media ad campaigns are cost-effective when compared to other forms of advertising and are a good way to increase reach and introduce new people to your brand or products. 

9. Draw on Your Customers’ Social Influence
Shoppers are more likely to make a purchase based on social media referrals. Because people tend to trust others with similar interests, it makes sense to draw upon your customers’ influence. Due to its inherent sharing capabilities, social media is a primary outlet to make that happen. 

10. Support a Worthy Cause
People’s minds turn to giving during the holidays, and that doesn’t mean just friends and family; charitable giving tends to rise, too.

Businesses can use social media to achieve social good — by supporting a worthy cause. Aside from the benefits charities receive, it is a way to build goodwill between you and your customers that can result in greater loyalty and increased lifetime value.

Use crowdfunding sites such as Go Fund Me or YouCaring.com to provide your customers with an opportunity to give, as well.

Paul Chaney
Bio  

5 Signs Your Company is in the Dark Ages

One of our vendors recently asked us to fax a form to them … really, a fax? So I started thinking, what are the signs that a company has not kept up with times and is stuck in the dark ages?

If you are guilty of any of these fives things, it’s time to move forward. Immediately. It’s not just about productivity, it’s about keeping your pulse on how people do business and what is important to them. Keep your particular customer base in mind, but these five things are most likely holding you back.

1. You still use a fax machine.
   Our company does not own a fax machine and I have not sent a fax in over a decade. If you are not aware that fax machines have been replaced with emails, you are a dinosaur headed for extinction. Even when signatures are required, the businessperson of today expects things to be signed, scanned, and emailed. You shouldn’t expect clients, customers, or vendors to have fax machines.
2. You only communicate by phone.
   If you sell anything to millennials, don’t ask them to call your customer service phone number … that’s not how they communicate. Reconsider your ‘social media seems like a silly fad’ attitude and embrace the new ways your customers want to communicate with you and each other. Yes, it’s good to have the option to call. But if you’re not transitioning to live chat and social media correspondence, you’ll soon lose any customer base below the age of 40. (If I lost you at “live chat,” it’s time to hire a consultant.).
3. You still print everything.
   Seriously? This is my planet too, so learn how to archive electronic documents, sign PDFs online, and stop killing our trees. With a few very rare exceptions, you don’t need a hard copy. The risk here is not just to the planet, it’s to your ability to hire and retain quality employees. Now and for at least the last 10 years, college graduates are looking for companies with good environmental practices. You don’t need to bring 15 printed copies to the meeting, trust me.
4. You’re still using snail mail to do business.
   When a customer asked us to snail mail a paper copy of our invoice half-way around the globe, we refused for oh-so-many reasons, ultimately walking away from the small deal. Snail mail might be even more obsolete than a fax machine and does not gel with our approach to protecting the planet. Stand up for what just makes sense and stop mailing paper.
5. You still need “face time”.
   Gone are the days when working 15 hours a day was a solid measure of success. If you allow your employees to utilize flexible scheduling options, you will likely see more productivity than if you encourage the traditional “first one in, last to go home” paradigm. Remember that sometimes a task takes longer because someone refuses to consider easier options. The person staying late every day may need some help with new approaches to work smarter rather than applause for burning the midnight oil.

It happens to all of us, we find ourselves holding onto a tradition even though it’s not logical. We find comfort in doing things “the way we’ve always done them.” When it comes to your business, it’s important to fight this urge and push forward. The longer you hold on, the more behind you’re getting. 

I'm sure you, too, have a few things in mind when it comes to antiquated business practices. Please share them below!

Written by

Thomas Michael

Wheel of Success Referrals-Based Business Model

Magnetic Business Solutions (MBS) is the name I’ve chosen for my company because all of us as entrepreneurs have to pay attention to attracting great clients and having them stick with us.

Yes, we have to prospect. And yes, we have to sell. But we also have to create a system with all of the processes and procedures to build an ever-growing, more profitable business year after year after year.

That’s why, decades ago, I created this concept called The Wheel of Success System©.

You are the hub of your own Wheel of Success. The spokes of your Wheel of Success are the skills, coaching, mentoring and marketing support that empower you to build a lasting business by achieving these three objectives:

Continuously expand the amount of business with existing clients. Strategies: 1. Raise prices as you add more value; 2. Add other products and services through client feedback; and 3. Develop longer-term contracts with clients.

Generate quality referrals. Strategies: 1. Clearly identify Your Ideal Client Profile*; 2. Develop a system for creating a steady flow of referrals from clients and referral buddies; and 3. Create alliances with Centres of Influence.

Turn prospects into clients more easily. Strategies: 1. Follow up faithfully with referrals; 2. Use testimonials from existing clients to establish trust; and 3. Make your marketing strategy all about education.

MORE CLIENTS AND HIGHER AVERAGE SALES
I call this The Wheel of Success System because, like a wheel, it keeps on rolling through this continuous cycle. When you improve the quality of your referrals using your Ideal Client Profile as a model, and those referrals become clients, the number of clients and the average income per client also increase. Thus, your Ideal Client Profile is enhanced, leading to an even higher quality of referral.

BONUS – INCREASED LOYALTY AND MORE PROFITABLE PRODUCT LINES
As a bonus, you also increase the loyalty of your clients by allowing them to help you bring in clients they already like and trust, and by providing feedback that helps you increase and refine your product line to serve them.

Some people describe this as creating a “Tribe” or a “Community”. Whatever you choose to call it, it definitely works as the foundation of any successful business.

EMAIL ME FOR THIS FREE WORKSHEET
For starters, email me at MaryLou@MagneticBusinessSolutions.com and request a worksheet for creating your own Ideal Client Profile. * I’m always happy to help.

The Wheel of Success System © 1991 Mary Lou Gutscher

How to Analyze Business Opportunities

How do you analyze a small business opportunity? How do you differentiate good small business investment opportunities from bad ones? How do you assess a business opportunity to know if it’s worth pursuing? Do you want to learn how to evaluate a business opportunity? Then I advise you read on.

“There are no bad business and investment opportunities, but there are bad entrepreneurs and investors.” – Rich Dad

Savvy entrepreneurs know that not all business opportunity that appears viable on the outside is really viable. It takes a trained or experienced eye to tell a good business opportunity from a bad one. So today, I will be sharing a checklist that will help you analyze or assess a business opportunity. If you are ready to learn, then below are six checklists to analyzing or assessing a business investment opportunity. 

How to Evaluate a Business Opportunity

1. Industry and Market

The industry and market of the proposed business plays a vital role in helping you decide if a business opportunity is worth pursuing or investing in. You can analyze the market or industrial situation by asking yourself or the promoter the following questions:

• Does a market exist for the business idea?
• What is the size of the market?
• What is the growth rate of the industry?

These questions will help you gain a further insight into the nature of business opportunity you intend pursuing. It will also help you know if the promoting entrepreneur did his/her homework properly. 

2. Length of the window of opportunity

Another point to consider when analyzing a business opportunity is its length of window. What I mean by length of window is this;

• How long can the business opportunity or investment remain accessible?
• Will the business investment remain open and accessible while you try to raise the required investment capital?

Based on my experience as an entrepreneur, I know that some good business opportunities come with a short access time frame, meaning they won’t be available for too long. It is important to know the length of window of an investment because the investment might not still be open by the time you’ve rounded up the required capital for its exploitation.

Examples of business opportunities with short window length are contract opportunities, where there are bidders and a stipulated time of contract execution.

3. Entrepreneur’s motivation and competence

The third thing to consider when assessing a business opportunity is the entrepreneurs’ or promoter’s motivation and competence. The competence factor is a critical criterion you must scrutinize carefully especially if you are investing in someone else business opportunity. The entrepreneur must be highly motivated, competent and experienced in game of entrepreneurship.

“An average person with average talents and average ambition can outstrip the most brilliant genius in our society; if that person has clear focused goals.” – Mary Kay Ash

Never invest in a startup where the promoting entrepreneur assigns himself huge salary. Never invest in a business venture where the entrepreneur’s primary objective or motivation is just to make money. Making money from a business idea or opportunity is something every entrepreneur loves but my point is; it shouldn’t be a primary motivation. 

How to Analyze or Assess Small Business Investment Opportunities

4. The Business Management team

“Business and investing are team sports.” – Rich Dad

The fourth thing to look out for when analyzing a business investment opportunity is the business management team. If you are the facilitator or originator of the business idea or opportunity, then you can decide or choose the business management team to bring on board. But if you are simply investing in someone else idea, then you have to assess the strength and weakness of the business management team.

“We need leaders, who add value to the people and the organization they lead; who work for the benefit of others and not just for their own personal gain.

Leaders who inspire and motivate, not intimidate and manipulate; who live with people to know their problems in order to solve them and who follow a moral compass that points in the right directions regardless of the trends.” – Mary Kay Ash

To be on the safe side of any business or investment opportunity, you must think and analyze the business investment like a Venture Capitalist; otherwise called VCs. VCs prefer a strong team and an average product to a weak team and an excellent product. This is the major reason why most brilliant business ideas don’t get funded.

5. Capital, man power and technological requirements

Another issue you must analyze with respect to a business opportunity is the capital, man power and technological requirements. These three principals are very important especially when you want to assess the risk to reward ratio of a business or investment opportunity.

They form the basis of business and investment risk analysis. If the requirement to pursue the business opportunity is extremely high with respect to the profit potential, then it’s not worth pursuing.

6. Economic Environment

The last on my checklist for analyzing business or investment opportunities is the economic environment where the business opportunity exists or is intended to be pursued. When assessing the economic environment, you must also take into consideration the fiscal or monetary policy of that environment or country, political situation and government’s policy.

“You are a product of your environment. So choose the environment that will best develop you toward your objective. Analyze your life in terms of its environment. Are the things around you helping you towards success? Or are they holding you back? – W. Clement Stone

This is important because some business and investment opportunities are favored by certain economic environments while others are not. For instance, some businesses thrive well in a socialist system of government, while others do well in environments where capitalism is the norm.

As a final note, these are my six checklists for analyzing or assessing a business investment opportunity. Though there are other factors to consider while carrying out a business opportunity analysis, these six checklists will give you a strong insight into any business or investment opportunity.

Ajaero Tony Martins

Feasibility Study

Listen To Understand vs reply

How to Have Productivity After The Write Up

Write ups...you know, that thing most managers hate to do, and theoretically all employees hate to receive. Write up, corrective action, disciplinary action, performance improvement plan all are meant to put employees on notice that they are doing something wrong. And that they need to improve it, usually with an expected time frame.

Maybe you have received or delivered these in your career. There are good ones and bad ones. Sometimes HR assists and sometimes not. If written or delivered well, you can get a good outcome. If written or delivered poorly, well... you don't get a good outcome. The biggest pitfall of a poor write up is that the employee comes away demotivated and productivity spirals downward.

There are three things to consider: the write up itself, delivery and follow up.

The Write Up. How is it structured? Does it stick to facts and company policy or does it degrade the employee as an idiot, a poor excuse for a human being? Or is it unclear such that the employee is confused? It should state what the employee did wrong, statement of the policy that was not adhered to, expectations of what the employee must do going forward, the consequences if the employee does not improve and the time frame. That's it, clear, brief and to the point.

The Delivery: Manager. This is the most important aspect to have good productivity afterward. It is important to be straightforward about the specifics, no long embellishment dragging details through the mud. Then close with something positive. If the manager REALLY wants the employee to go back to work and be productive, then give the employee something positive to make them want to go back and be productive. Compliment the employee in those areas deserved, and let him/her know that you are confident of their success in overcoming this. Having the employee productive afterward is 80% how the manager delivers. Just remember that turnover is very costly, and salvaging a struggling employee can be well worth the effort.

The Delivery: Employee. OK, the burden is not all on the manager. The employee has to be honest, face up that the corrective action was warranted (almost all are). The best way to prove that you are a great employee is to deliver...correct the performance or behavior, be positive, and thank the manager for believing in you. Deliver these things even if you don't agree with the write up or the manager does not have faith in you. Others will notice, and the manager may change his/her mind about you.

The Follow Up. It has been 30, 60, or 90 days. Time to close the satisfied write up (hopefully). The manager should have been watching, encouraging, taking time to steer and be ready for the update. Of course not all will succeed, and that is worthy of a whole separate article. For those who do succeed, this should be a wonderful meeting. Both manager and employee should be saying "Thank you" to each other. The manager says "thank you for digging in and persevering to overcome this obstacle and succeeding. I knew you could do it, and I am happy and proud of you." The employee says "thank you for helping me along the way, your guidance and advice, and believing in me. I am happy that you are my manager and will continue to do a great job." I have witnessed employees becoming spectacular after working through corrective actions and being given a second chance.

This wonderful scenario doesn't happen on all occasions. There are poor managers, and there are poor employees. Managers should be focused on the bottom line for their department, knowing that productivity affects their bonuses and promotions as does turnover. Employees should be looking at their careers, promotions, or just keeping their jobs. In any case, good, strong productivity is important to both. And productivity can be strong even when write ups are necessary.

Written by

Mary Thompson, SPHR,