You Have a Choice to Make, What Will You Decide?

Do you remember the first time you rode a bicycle? You, like me, probably fell down a few times before you finally stayed up and actually rode the bicycle for a bit. What is it that helped you, in fact, made you determined to get back on the bicycle and try again after falling off?

Here are a few thoughts. Read these and then write down the reasons you think of:

    You have seen others ride their bicycles, possibly your older brother or sister. Maybe one or more of your friends.
    You had a great 'coach' or teacher working with you to instill the confidence in you that you could do it. The mechanics of riding a bicycle are a great example for how a coach should work. The reason is you must be the one to do it. The coach cannot step in and do it for you.
    The coach is there to support you and instill confidence in you. Asking you, what is working and what is not working to help you make the right decisions for yourself? What else is special and is a great teaching moment regarding riding a bicycle? Once you ride a bicycle, and know how to ride a bicycle, you always know how to ride a bicycle! Let's consider how this is important for you in your business success.
    The creation of habits that are learned, repeated and built upon, are critical for building a successful business.
    If you need to go from here to there, you can get up on a bicycle and go from here to there, anywhere, wherever you are, you would be able to do it.Translate this to your business. Are you building the flexibility into your business process where you are able to conduct business wherever you are?

Take a moment and review these items. Take some notes. Where do you need to take some actions steps right now and make a few decisions, which will bring you, closer to this type of thinking in your business? Building a business built for success requires that you do this, do it right now.

There are a few people who will make these decisions and map out their actions steps right now. Many more will not do anything. Which group are you in? Which group is made up of the business owners, who will be successful at whatever they choose to do?

Isn't it time that you joined them?

Mitch Tublin is ready to take you to the next level. Contact Mitch today for an Appointment.

Delegation for Entrepreneurs: Where to Start?

We are starting with the basics this week! As an entrep, your time IS money. So entrepreneurs: it's time to cut yourself a break. You don't have to do it all to have it all. Trying to manage every last detail of your business ultimately leads to burn out- not so awesome when you're the captain of the ship!

So it's time to stop being so "busy" and start being "productive." Time after time we hear from entreps that while they understand that they need to be delegating, they just can't figure out how to get started- or maintain it so that it really makes a difference in their day. (Hint: For inspiration/motivation read through some of our testimonials that speak to the success of efficient delegation).

We believe there are many layers to effectively mastering delegation- some tangible and some emotional. There's no quick fix way to finding a formula that works for you and your business. But there are strategies you can incorporate to delegate like a rockstar.

Your first step is to gain an understanding of what can actually be delegated off your plate into another set of capable hands. Yes, this means whipping out a timer and/or a notebook and keeping track of what you do each day. There are great online tools that you can use to track your time - we use a tool called Toggl, which is web-based, or even just start the timer on your iphone as you move from task to task each day. What's most important is that you take clear notes on your tasks and that you are committed to doing this for a set period of time. We recommend at least 3 days- just think of it this way, the longer you do it, the more tasks and trends you can identify and clear off your list. This is a helpful exercise to do periodically in your business, as your responsibilities change and evolve.

Next, analyze the results. As you're reviewing, think about these questions.

Always start with the positive:

Which tasks do I handle in my business that I really love (ie this is my passion!)?
Which of these tasks are actually a productive use of my time?
Put a star/smiley/heart next to these!
Then work through the rest with the following in mind- HINT- look for trends:

Which tasks are "busy work" that could be easily done by someone equally fabulous who actually loves working on this kind of stuff?
Which tasks do I handle in my business that I really don't enjoy (and am not very good at!)?
Which tasks are repetitive in nature (and could potentially be documented)?
Which tasks do not require my personal attention?
Which tasks can be easily explained and easily repeated (without me)?
Which tasks generate no direct revenue for my business?
After completing this exercise you will see a list of tasks emerge that are not only slowing you down time wise, but zapping your overall energy level and enthusiasm for your business. So not cool when you're energy level directly relates to the growth of your biz.

While looking at your new list, consider what resources, skills or training might be needed to move these tasks off of your plate.

Now, take action= get help. There's no time like the present and competing priorities will only continue to slow you down and hold you back from meeting your goals. We help entrepreneurs each day to clear their plate and make room for their dreams to flourish. Let's talk about how we can help!

Next Up: MINDSET! "No one can do it as good as me!"-> We'll be digging into this entrepreneur catch-phrase next week when we interview coach to the stars- Michael Melcher. He will be discussing how people deal with the discomforts of delegation and why they need to blow past this mindset in order to be successful. Don't miss it!

In the meantime here's a cheat sheet list of items you could easily delegate to our team:

Email mgmt and organization (*a client favorite!*)
Scheduling
Contact Management
Writing your SOPs
Email marketing
Website Maintenance
Travel Planning
Presentation Prep
Internet Research
Drafted Correspondence
Drafting/Scheduling Tweets
Expense Reporting
Proofreading
Project/Team Mgmt
Meeting Confirmations
Customer Service Support
Transcription
Bookkeeping
Article Marketing
Managing your SM profiles
Shopping Cart Management
Webinar/Teleseminar Setup
Affiliate Mgmt
Gift ordering

Passing On The Family Business to the Children - Pros and Cons

I was recently offered the opportunity to find a buyer for a family company that five years earlier had been passed from the founder to his four children. For the last couple of years the company had struggled. The difficult economy had taken its toll, and reduced profits were causing friction with two of the siblings who were not working in the business. One of the non-working shareholders had been through an expensive divorce and now wanted the other shareholders to buy her out. The business was not making enough money to fund a buyout so a decision had been made to explore a sale.

After meeting with the shareholders in the company's wood-paneled boardroom we decided not to take the project on. There was a huge variation in motive, price expectation and emotional commitment to the business amongst the shareholders, and I just couldn't see them agreeing on an offer. The meeting with the shareholders did however set me thinking - Just what are the pros and cons of transferring a business to the children?

For many owners keeping the business in the family is a decision driven by emotional preference rather than commercial logic. It certainly avoids the expense, disruption and stress of a company sale process. If the children have the ability, drive and personal compatibility to run and grow the company it can also provide a better standard of living than paid employment. These are genuine benefits to keeping a company in the family, but I have seen enough failed transfers to know that there are some genuine risks as well.

The first and most basic rule of wealth management is to build a diverse portfolio to spread risk. Passing the company on could well result in an unhealthy concentration of wealth in one asset. Some founders solve this problem by requiring the younger generation to buy them out, but the resulting cash drain on the company can hobble growth for years.

Hard as it may be the founder has to find a way to take a dispassionate view of his children's ability to grow the company. Could I do this? I'm really not sure. You also need to be sure that running the business is what the children really want to do. Successful owners have a passion for the business, not a sense of obligation.

Building a business takes independence of mind and belief in your own judgement. These are not character traits that make it easy to let go. Will you really be able to manage this? It is likely that at least one of your children will have inherited these qualities. Inter-generational strife can quickly sap energy and leave the business without a sense of direction.

Is the business in need of fresh ideas or an injection of capital to take it forward? Children that have grown up in the business may not be the best source of a change of direction. New owners may be better placed to invest in taking the business forward.

I can understand the emotional attraction of passing a company on to the next generation. Experience tells me that it is not the right decision in every case. It might well only be the right decision for a small minority of families.

Robert John Kemp is Managing Director of UK Business Broker Select Business Sales.

Select Business Sales are specialists in retirement sales of private companies. Our active approach quickly connects clients with the buyers in the best position to complete a purchase.

Can I Use My Mobile Car Wash or Auto Detailing Rig To Help The Community After a Disaster?

Back in 1997 and 1998 I was running a franchise company and selling mobile car washes and mobile auto detailing rigs. I was also a member of the International Franchise Association and I was pleasantly surprised to learn that there was a group of franchisors that had gotten together to help out in natural disasters. Some of them were restaurant chains, some were service firms, and then there was a whole gamut of other types of franchises. It was almost as if it was an auxiliary of FEMA, kind of like the Merchant Marines that helped out in World War II.

Why do I mention this? Well, because I realize how much firepower each of our franchisees had with those mobile cleaning units. I also realize how many mobile car washers there are now these days. Altogether they represent quite a bit of potential for disaster cleanup and aid to displaced people. Let me tell you a little story; after the 7.7 Earthquake in Northridge California I sent my mobile car washing rigs to the park to give water to the people there. Our water tanks held 200 gallons, and we also had portable generators onboard.

People living in the park with no electricity were in desperate need of water and energy; simple things such as using a blow dryer, or charging their cell phone. You'd be surprised how much you need these things, and what your life is like once they are gone. We were happy to help out, and amazed at how happy people were with our generosity. I didn't realize at the time, but later we had created so much goodwill in the public that when things came back to normal our business was flooded with new customers. It truly was a win-win situation. We helped those people in their time of need, and they were helping us to more business after it was all over, even during that recession.

What I'm saying to you is this; if you run a mobile car wash business or a mobile detailing operation that you should come to the aid of the community with as much services as you can provide them in their time of need. As long as you can afford to put fuel in your vehicle, and you have volunteers who will help out, you should do this. Not only is the right thing to do, but it pays dividends down the road. Indeed I hope you will please seriously consider all this and think on it.

Start Your Own Aluminum Can Recycling and Advertising Business

With people's attitudes toward recycling and prices for aluminum and other metals at near all-time highs, a Tampa Florida entrepreneur's business idea as reported by The Tampa Tribune, 09/24/12, may have just the right timing.

Being an apartment building painter for 15 years entrepreneur Dennis Gallagher noticed that apartment renters had no easy and convenient way to recycle their aluminum cans. Now thanks to Mr. Gallagher, and his business idea which became his own aluminum can recycling and advertising business he calls the Green Can Project, they do.

The Green Can Project places large plastic containers around apartment buildings giving people an easy opportunity to participate in recycling their aluminum cans with all the proceeds going to a local charity.

Since the recycling proceeds go to charity, Mr. Gallagher apparently plans to monetize his business by selling advertising space on the barrels to local businesses around the area.

This idea for an aluminum can recycling and advertising business seems to this writer that it has the potential for duplication in other areas of the US and in other countries as well, with the added benefit that an enterprise like this would probably only require several thousand dollars to start on a small scale.

It should be relatively easy to place attractive containers at many types of locations free of charge considering the public's current level of interest in legitimate environmental issues.

Gaining advertising accounts would be the more difficult task but calling on businesses in the general vicinity of where their ads would be placed might very well meet with the greatest success, at least in the beginning.

Someone interested in starting a business like this would, among other things, have to find a supply of inexpensive but appropriate barrels, work with a good printer, or better yet have your own printing equipment to produce the advertising signs and/or banners to attach to the barrels, and have the means of hauling the cans from the barrel locations to the recycling centers.

Once up and running you might get help from businesses who would request barrels be placed at their locations just to participate in a good cause, and if advertising on the barrels produced good results then ad sales should eventually get easier as you build good testimonies from customers and have word-of-mouth advertising working for you.