Tuesday, October 12th, 2010
Double Your Income and Help More People by Creating Multiple Streams of Revenue from Your Expertise!
WHEN: October 13th, 1:00pm – 2:00pm EDT
WHO: Barb Wade, 6-Figure Business Coach
COST: FREE for ALL members of The Mom Entrepreneur Support Group. Not a member? Join here. Membership is free! - Limited to 50 participants
REGISTER: Click here to sign up…>
These days it’s not enough to only service one client at a time… this leads to overwork and burnout, and significantly limits the number of people you can help!
In this informative call, 6-Figure Business Coach Barb Wade will share with you the strategies and techniques to create multiple streams of income from the expertise you already have. Barb will show you how to reach more people – and receive significantly more income – by moving beyond the “hours for dollars” paradigm, and packaging what you do into various programs and price points.
In this call you will learn:
- The 4 reasons why an hours-for-dollars business will sabotage your success.
- The truth about what clients are really “buying” from you that supports multiple streams of income.
- How to strategically design and package your expertise into your very own “Profit Pyramid”.
- How this model ensures that first-time clients become repeat purchasers of your services.
- The #1 mistake entrepreneurs make when transitioning into a multiple-streams-of-income business.
COST: FREE for ALL members of The Mom Entrepreneur Support Group. Not a member? Join here. Membership is free! - Limited to 50 participants
REGISTER: Click here to sign up…>
About the Presenter:
Barb Wade is a 6-Figure Business Coach for Women Entrepreneurs who specializes in teaching her clients how to create thriving, lucrative businesses without compromising their families or priorities.
Barb’s expertise encompasses how to attract high-paying clients, how to charge what you’re worth (and get it!), how to create multiple streams of income from your expertise, how to enroll clients easily without being salesy or pushy, and how to create a business on your own schedule and terms.
A frequent speaker on industry panels, Barb also served for 8 years as the official “On Air Success Coach” for the Fine Living Channel, and will be the MC for October’s “SuperMom Entrepreneur Conference” in New York City.
Prior to her 10 years as a coach, she was an executive at Walt Disney Studios, Dreamworks, and Bill Gross’s Idealab.
Lastly, Barb has created a FREE “How To Get Clients” Business Breakthrough Kit for Women Entrepreneurs that is available on her website, www.barbwade.com.
COST: FREE for ALL members of The Mom Entrepreneur Support Group. Not a member? Join here. Membership is free! - Limited to 50 participants
REGISTER: Click here to sign up…>
Tags: 6-Figure Business Coach, Barb Wade, Multiple Revenue Streams, Residual Income
Tuesday, May 4th, 2010
Over the past several weeks, we have been discussing the components of a business plan in The Mom Entrepreneur Support Group. So far, we have discussed writing the Industry Analysis, Description of a Business and Competitive Analysis.
Members are undecided as to whether or not they actually need a business plan. They have mentioned reading articles or talking with experts who say a business plan is not necessary.
I strongly disagree. A business plan is imperative to the success of your business.
A “business plan” can take on different forms. When I started my first company, Bisson Barcelona, I wrote out a full business plan, which included sections on the industry, target market, competition, trends, marketing strategies and much more. This was a business plan that I took to the bank to secure funds needed to buy an office and equipment. I knew my business well, but needed an organized way to layout and present the information for investors as well as myself for planning future growth.
When I started my second company, The Mom Entrepreneur, I did not create the same kind of business plan. I was not seeking money from investors, and since I had already written a full business plan, I had a sense of the information I needed for planning the growth of the company.
I decided to use an idea notebook. This is a 6×9 inch notebook with pages that are filled with ideas, thoughts, plans, suggestions, etc. I refer to it often, make changes, delete ideas and add new ones.
No matter what type of business you own or how savvy of an entrepreneur you are, you must have a plan! Growing a business takes you to a destination. Would you get in a car and drive to a place you have never been before without a map or a GPS system or some other device to help you navigate?
Of course not. So why would you do it with your business?
“Even if you aren’t planning to borrow money or seek investors right away, there are good reasons to sit down and write a plan,” says Karen Klein, a business journalist who covers small-business issues for several national publications, including Businessweek. “Writing a business plan not only helps you determine whether your business idea is feasible, it also establishes a map for your company’s future. Without it, your business is likely to drift along without direction or parameters for measuring progress.”
Microsoft’s Small Business Center advises that if you’re starting a home-based business on a shoestring, some of these suggestions probably aren’t necessary, but you still should create a plan that outlines your goals, expected costs, marketing plan and exit strategy. If you haven’t written your plan yet, your business is still in the fantasy stages.
“A business plan is never quite finished because you’re always revising it, reviewing it, and building upon it. In fact, more important to your business’ future than having a written, 30-page, coil-bound plan to distribute is the business planning process that you undertake on a regular basis to hopefully keep your ship headed in the right direction without losing sight of your long-term destination,” explains Elizabeth Wasserman, a writer for Inc. Magazine.
Even a seasoned traveler needs to be reminded how to get to a destination. Perhaps landmarks have changed, or road construction has altered your direction.
If you are struggling in your business and feel like you have lost your sense of direction then take the time to research and write a business plan that outlines your goals and how you will achieve and measure them.
Here are some sites that can help get you started:
- SCORE Business Plan Templates- they have a variety of templates here to choose from depending on your type of business. Easy to understand and use.
- SBA Business Plan Template – this template is designed to help you build a business plan. Review and complete each section of the template. At the end of the program you will be able to generate and save a formatted business plan which can later be further modified or presented as a final product.
- Entrepreneur.com Business Plan – describes the different sections of a business plan and offers free sample business plans.
- Need help? Have questions? Join our discussion on The Mom Entrepreneur Support Group about how to write a business plan.
So mom entrepreneurs, what are your thoughts? Do you have a business plan? Do you recommend creating one for a business? I welcome your comments.
Tags: business planning, goal planning, How to write a business plan, starting a company, strategic plan
Wednesday, July 1st, 2009
A few months ago, I was invited to speak at the local MOMS club meeting. They had several members who owned businesses and they wanted me to talk about tips and techniques for managing the balancing act.
As many mom entrepreneurs might agree, the balancing act can be a tricky one. I do feel however that there are certain strategies and resources you can put in place to make it a bit easier on yourself.
Here is my Top 10 list (in no particular order), which I shared with the group:
- Passion – don’t start a business unless you are passionate about it. It is not worth the hassle and heartache to become an entrepreneur, work at something you do not enjoy and then try to balance family on top of that.
- Plan – have a plan before starting your business. Otherwise, both time and money will be wasted. As mom entrepreneurs, we don’t have a lot of time, and in this economy who has money? If you have time to write a full business plan great. However, this is unrealistic for most. According to Mike Michalowizc, the three-sheet strategy is just as effective. This strategy consists of a prosperity plan (the vision for your business), quarterly plan (the path of your business) and the daily metrics (health measurement of your business). You can learn all about this effective strategy by listening to the The 3 Sheet Strategy To Dramatic Business Growth (Especially in A Down Economy) Podcast.
- Cash Flow – you have to constantly be aware of what your cash is and is not doing for you. By keeping track of your payables and receivables and reviewing daily, you can make educated and informed decisions about the health of your business. To download a sample template, click here…>
- Business Consultant – I highly recommend hiring a consultant who is knowledgeable about business growth. I made some critical mistakes in my business and finally realized what I did wrong once I hired a business consultant. Unfortunately, I hired her after the mistakes were made. I was very fortunate that my business did not fold all together. Hiring a consultant is a necessary business expense and one that you will see a huge return on investment (ROI) for. I work with Gail Zona of Next Step Business and recommend her services.
- Get Connected Socially – it is critical to be connected socially. With the rate of people connecting online increasing exponentially, you are seriously hurting your business if you are not one of them. Networking online is not difficult or scary, but there is a process and a certain etiquette that must be followed in order to build online communities, relationships and ultimately transact business properly. You can learn how to do it the right way by listening to the How To Build Influence and Increase Your Profits Using Social Media Podcast with Scott Bradley of Networking Effectively.
- Professional Support – in addition to hiring a business consultant, you should also have other professionals on your team. This includes a lawyer, accountant, HR professional and investment advisor. When I submitted my business plan to the bank, this was required information. Ask for referrals from friends and colleagues, and conduct interviews to locate the professionals that believe in your business vision. I also recommend connecting with hundreds of savvy mom entrepreneurs for networking and support through our Online Support Group.
- Personal Support – as a mom entrepreneur, the personal support is just as important as the professional support. This may include a daycare provider, nanny, housekeeper, friend, family, etc. You cannot do it all yourself, but with help, you can manage. If you do not have friends or family nearby that can help out, then I recommend a service like Care4Hire, which can connect you with qualified help in your area.
- Keep Up With Trends – The Mom Entrepreneur has been successful in its business growth goals because the industry trends indicate huge opportunity in the mom entrepreneur market especially in the U.S., Canada and U.K. You must always be aware if the need for your products and/or services is growing or declining with your target market(s). Not having this information at your finger tips can be detrimental to the success of your business. Some simple indicators you can tap into include Google Alerts and Google Trends.
- Stay True to Yourself – remember that your health and well being is just as important as the health and well being of your family and business. If you do not take care of yourself, then how do you expect to grow a happy and successful family and business.
- Keep the Faith – do not give up on your entrepreneurial pursuits or get discouraged. Growing a business and balancing a family is supposed to be tough. If it was not tough, we would not be challenged and easily become bored. Remember everything happens for a reason. Sometimes you have to search long and hard to find the reason or you may never understand why it happened. Just keep your head up and continue moving forward!
Do you have additional tips or techniques for managing the mom entrepreneur balancing act? Please share!
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