Does Your Business have B.A.M? Monday, Nov 17 2014 

BAMMany people have dreams of owning a business. Some want the freedom to direct their own future. Ultimately, live a care free life filled with exotic vacations. Others want an untapped income stream. No matter the motivation, you need three elements to be successful.

Belief

A successful entrepreneur has to believe in their own ability to bring home the bacon. Let’s be honest, you can have the nicest business cards ever created and never make a dime. A fancy business card does not make a business. You have to know the value you bring in the market place. This means knowing what makes your product or offering unique. Then having the confidence and skill to share that value with the customer.

Activate

Planning your business activities is necessary, if you are going to be organized and focused. An entrepreneur needs a target to aim his shot. However, plans without action are just wishes. Regardless of the formal title, you are in the business of selling. Mary Kay Ash said it best, “Nothing happens until somebody sells something.” Yes, this business may be your deep down passion. However, money is what allows you to share your passion. Coaching women in their businesses and lives is what I was born to do. I would do it for free, and have. That said, the electric company hasn’t started taking passion as payment. So you have to always be selling, or as I like to say, “exchanging value” if you are going to continue to share your gifts with the world.

Maximize

Now here comes a biggie in the entrepreneurial space, maximizing. Acquiring new customers can be a lot of work, cost, and time. The worst part, the more time we spend working on seducing the potential new customer or client. The less time and resources we have to better serve the old and faithful. The ones that already know your value, and are willing to compensate you for it. Spend time maximizing your offerings to these customers. Look at AT&T, cable, phones and now security systems. Now of course new customers are necessary to keep a business growing. Just make sure it isn’t at the expense of the old.

Monique Moliere Piper

Certified Professional Coach and Author

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Are You Ready to Build Capacity? Monday, Mar 3 2014 

Are You Ready to Build Capacity?

Are you ready to build capacity in your business? Perhaps you would like to grow in one or more of the following areas: clients, revenue, employees, product or services, or geographic area. All growth requires some cost factor: time, money, practice, or sometimes pain. In order for you to grow your business’ capacity, you have to assess where you are, visualize where you want to be and develop your action plan to get there.

Capacity_Building

If you were to build capacity that means more is needed. You need more resources, more opportunities, more staff, more avenues, more policies, more agreements, more traveling, more regulations, or simply more tasks for you or someone to complete. All of this more has to be planned, organized and executed. If it is not, then the consequences can be overwhelming to you and the business. Some businesses do not recover from not adequately building capacity or deciding to launch into the deep and not being prepared. For example, let’s say your company is a one-person operation. You decide that you want to grow into a full-service consulting firm. To accomplish this task, you bid on a job and are awarded the contract, but remember the operation is only you. After initiating the contract, you realize that you do not have proper support staff to execute the contract, you do not have the necessary money to meet payroll, and you don’t have proper workmen’s comp insurance that is required on employees. The challenge for you is most of the tasks needed to build capacity take time to put into place. There are numerous tasks that have to be accomplished to build capacity. Just remember, count the cost, research, seek out information and resources, and assess the real needs of the business before you launch.

Author,
Tiya Scroggins, MBA
CEO of Scroggins Consulting, LLC