New York Jets Win!!!

Shiny Object Syndrome?

Well, I am enjoying my Sunday afternoon of football and rooting for my new favorite team the New York Jets. I have always been a Southern California girl who went to UCLA but when it came to professional teams, I like to root for the underdog.

Just a little bit of background for those of you that are not football fans. Brett Favre is considered old in the NFL. He has won a couple of SuperBowls and played his entire career in Green Bay, Wisconsin where you could not buy a season ticket until 2030. Brett, decided to retire early in the off season, but later changed his mind when he realized that he is a man getting paid to play a boy’s game and if he still could throw the ball as good as he did, why not keep playing? He has also been through a lot in the last couple of year, his mother being lost during Hurricane Katrina, the death of his father before a playoff game (where he still played) and his wife fighting cancer. This man, deserves to play as long as wants.

The Green Bay Packers decided that they did not want him to return and decided to invest their time and money into their new quarterback, Aaron Rodgers. A good kid full of talent, and one who could use a few more “ice cream seasons” as my Dad would say. But they decided to let Brett go. So he did, and landed with the New York Jets.

Now I love Brett Favre. Always have but this year more than ever. I am writing this article after I watched him lead his team ( or rather the defense) to victory. But, as I was watching the scores scroll by, I secretly hoped that the Green Bay Packers lose. Why? For one simple reason. I think the Powers that be at the Green Bay Packers were following the Shiny Object Syndrome most business owners follow, and lost sight of the fact that last year Brett Favre had one of his best years in the NFL with a young team. His leadership helped take them to the playoffs. Now the Jets are leading their division with a 9-5 record. The Green Bay Packers have a 5-9 record. Ooops….

Here’s my take on the situation. Don’t act like the Green Bay Packers’ Management. Don’t get me wrong, I always want you to focus on What’s Next in your business but don’t lose sight of successful strategies right now in your business.

I watch as my coaching clients get all excited about blogging, using Twitter, how many friends that they have using social media but I ask, what other numbers are you watching? How often should a customer return? How quickly can you turn the tables in your restaurant? Did you beat last year’s numbers?

This economy requires that you look closely at what is going on right now in your business and implementing those things that are working, not scrap everything for a new quarterback when you old one was doing just fine.

Oh yeah, by the way, the Green Bay Packers lost today. After last week’s loss, they were no longer eligible for the playoffs. Today the Jets won with the old man, Brett Favre and are slated to go to the playoffs.

It can be the same with your business right now. Don’t switch strategies, just add on to the existing ones that work. The only reason why I was able to buy the telephone company in the year 2000, was because my boss thought long distance was dead. $20million dollars later, it still has life. Just like Brett Favre.

Happy Holidays!

Richelle

I got to Co-blog with Aliza Sherman! Whoohoo!

 http://workitmom.com/bloggers/entrepreneurmom/2008/11/04/how-to-keep-the-down-economy-from-killing-your-business/

Read it here too!

Is the economy getting you down? What about your business? If you are feeling the pinch with your company revenues, you may not be following the 20% rules.

Richelle Shaw, the only female African American public utility owner in the nation, gives her advice for bolstering your business against the ups and downs of the economy. She says she found herself giving the following advice to clients and colleagues in recent days.

Richelle owns FreshStart Telephone. She is a multi-millionaire mompreneur who also wrote the book, How To Build A Million Dollar Business in Las Vegas – Without the Casinos. She is now a business coach. You can read more about her work at www.richelleshaw.com.

Richelle says…

Often, business owners forget that diversity leads to stability. Having one of anything is dangerous. Check out this list to uncover where your problems may lie:

Review your business to see if you have more than 20% of any one thing.

1. 20% of revenue from one customer: Do you have a large customer that represents more than 20% of your revenue. Debbi Somers of Somers Furniture used to provide services to (her local) convention authority and the majority of her business came from that contract. The contract was not renewed, and she was left with 35 employees without work. She had to scramble to replace the revenue. Six years later, she vows never to let that happen again.

2. 20% from one sector: Cindy Throm from Employers Benefit Design owns a multi-million dollar insurance practice primarily focused on the construction industry. (Today) the industry is down and revenue is off for the first time in 18 years. She has now branched out to maximize other industries but it was a shock originally. Review your customers for trends. It is good to have a target market, however once it reaches 20% look for ways to diversify.

3. 20% from one product or service: Kelly Welter from KKW LLC is a CPA and only provides tax preparation services. She used to live in a feast or famine environment. She added a new service with monthly payments to change her business and manage (during) the other months of the year.

4. 20% from one marketing medium: For years, I only advertised on the radio for customers of my telephone company, FreshStart Telephone. The conversion was fantastic, and I understood the medium. My largest competitor who had more money than I did, placed ads on the same stations, selling an irresistible offer to block any prospects from choosing my service. It worked. My new customers went from 400 per month to 40. Now, I use more than 6 different media to bring in new customers to my business.

Are you following the 20% rules? What makes up the greatest percentage of YOUR business?

Sarah Palin – The Celebrity Effect Lesson for Entrepreneurs

The Sarah Palin Effect – Use of Celebrity

The only thing about Sarah Palin that helped John McCain during this election was her celebrity – the same thing that he accused President Elect Barack Obama of using. But what the McCain campaign discovered is that the use of celebrity works very well.

This is why no matter if I voted RED or BLUE, I decided that attending a lunch with Bette Midler (Small Business for Obama) was the best use of my time and energy.

Clients, customers, patients, prospects are all tuning into Access Hollywood, Extra and Entertainment Tonight. Added in the last few years, E News Daily, The Daily 10 and TMZ. All of the shows feature celebrity news. Even CNN, has a nightly segment dedicated all to celebrity news. If you are not using that phenomenon in your business you are missing out.

Lesson: You should have a celebrity representing your business. It can be you or your partner. If you are too shy, get a cartoon made of yourself so that you can be another person. Create a mascot that can be the celebrity or “rent” a local newscaster to represent your company. People buy People not products or things.

For years, I stayed in the background at FreshStart Telephone, no one knew me. Then, I started our newsletter full of pictures, as well as making our customers celebrities. Showing pictures of them winning the prizes, paying their bills and happy to have our service. It changed our business. Use of celebrity, increased our referrals by 32%. Everyone wanted to come in and meet T.T. and Shameka from the radio commercials, plus see if their picture made the Winners Wall or newsletter.

Even better – my little celebrity, daughter Devyn, I get more questions about what is going on with her than anything. Using a celebrity works!

Devyn – Dance me if you Can?

Even though she looks like her Dad, this is my kid 100% Always a performer.

Just when I think she is crazy – she was supposed to be potty training but look she decided to close the lid and use her imagination and call the potty a stage. She is warming up for the first 30 seconds but then the television kicks in and voila – a Star is Born!
P.S. Make sure you catch the high note at the end!
P.P.S. Hmm, we still can not get her to use the potty with the pull up on – only if she runs around naked… Great business lesson – Progress is good as long as it is moving in the right direction. Enjoy

Mrs. Fields Cookies Files for Bankruptcy

Just when I thought nothing else could shock me, I heard this news. Then, it hit me, well yeah…

I read the details, this last quarter the loss increased from $1.4million to $10.7 million. How does that happen in one year? Then, the headline read – A Mall Staple files for Bankruptcy and that’s when the ah ha moment came.

#1 – A Mall Staple??? Who goes to the mall anymore? Certainly not many folks who want to spend $12 on a dozen of cookies.

#2 – They sell cookies one by one… My favorite matrix details how to get to a million.
# of Customers Price
1 x 1,000,000
10 x 100,000
100 x 10,000
1000 x 1,000
10,000 x 100
100,000 x 10
1,000,000 x 1 The price of one cookie – you need to sell $1million (hard to do)

How many customers does it take to get to a million especially if you are selling cookies one by one

#3 – Franchise owners – that is a whole day of blogging to tell you what I feel about franchising. What works in Iowa does not work in Las Vegas – PERIOD

#4 – No special recognition for special clubs on their website. Get 10% off if you submit your email address. Why? Some people this means nothing. Assuming everyone is not buying because of price. Only having one reward for submitting my email address. Why not get full contact information and send a free basket?

What would Richelle Do? The first thing I would do is make sure that the Malls are working for me as a lead generator for larger priced products. I would implement a program to get all contact information from each one of my customers. Make sure that I can stay in contact with them frequently and by all means, make sure that I show up in their customers’ lives more than just to ask for money.

Since I filed bankrutpcy – I wish them GOOD LUCK!

That’s Why They Play The Game – NY Giants Win!! SuperBowl 42

When thinking about business – I realize that there was no reason that I should be at all successful. I am a female, African American, reasonably young now… and self professed, chubby… With 4 strikes, how in the world did I accomplish all that I did and do?

People ask me all the time, with all of the challenges in life, you lost everything, filed bankruptcy and still came back? What would you say the difference is?

And I would say –Other people’s perception of me is just that, their perception. No matter what, I believe in myself and my abilities. Failure was an expensive lesson but it did not keep me from my ultimate goals. I heard that No does not mean denial but only delay. So I realized that this just might not be the time. But if I quit trying, it will never be the time. That’s why they play the game.

Look at the NY Giants, gross underdogs to not even be in the SuperBowl. The New England Patriots came into the game undefeated 18 – 0 and destined everyone believed to be the next SuperBowl Champions…however, someone forgot to tell the New York Giants.    They are the first wild card team from the NFC to win the SuperBowl. Eli Manning has been called Peyton (last year’s SuperBowl MVP from the Indianapolis Colts) more times than he chooses… Michael Stahan had decided to retire and then returned. Their best running back Tiki Barber gave up on them last year, announced his retirement in the middle of the season. Nobody gave them any credit or any hope coming into the season. The press of NY asked for Tom Coughlin the head coach’s head, get rid of him….Even Tiki now as a commentator for NBC, made numerous jokes about his former team’s ability to get to the SuperBowl, Eli Manning’s inability to control the offense and believe it or not – here it is . The New York Giants are SuperBowl 42 Champions!

So when you get down, Don’t feel like you can go another day…. Remember – that’s why they play the game.

Are you in the GAME?

Richelle Shaw –(aka – Eli Manning) Always in the Game!!!

Why You Should Be Watching Kitchen Nightmares

Ok I confess… I am a television kid…I grew up watching endless television and I am officially addicted but even better now they have so many channels I can watch whatever I feel like.

I stumbled on the BBC channel and Kitchen Nightmares. It is a reality show staring Gordon Ramsay – the chef from Hell’s Kitchen. He comes into the struggling restaurant to help rescue the business from closing.

I was hooked on Saturday afternoon, not for the cooking lessons (which I always need) but for the business lessons.

I was exceptionally excited to discover that FOX has signed the U.S. version. It is much easier to watch and more drama but still a great business lesson.

Gordon works on the business! AND shows how the restaurant really is in the MARKETING of FOOD business and provider of an entertaining experience . Classic Dan Kennedy!

The top 3 reasons to watch?

1. Fresh Eyes – Chef Ramsay is an outsider and can see many problems the owners can’t see.

2. Neighborhood Research – Chef Ramsay conducts surveys and detailed neighborhood research. Not a market study…..with long troublesome forms but asking questions of the community.

3. Staff training – Chef Ramsay even whips into shape struggling employees and handles crazy family members ruining the business. 

The Best Reason to watch –the straight, non-fancy marketing tips that anyone can use. They are cheap word of mouth strategies. He used celebrities in the community, created a fund raiser to drive traffic to the restaurant… Again, classic Dan Kennedy.

How Britney Spears and the Record Industry Can Learn From Dan Kennedy

Britney Spears certainly was a hot ghetto mess at the 2007 VMA’s but she is indicative of the recording industry – losing important fans.  Last month, the Bare Naked Ladies (Grammy Winners from 2001 – Multi-platinum sales) were interviewed by CNBC’s Business Nation because they left their label and opted to produce and distribute their own music.

Going against “The Industry” is a current trend but it has actually been around for many years.  It’s a wonder that any band can stay together more than a few years. There is just not enough money to go around.  I remember the group TLC on Vh1’s Behind the Music where they Lisa (Left Eye) Lopes was describing how easy it is to lose money.  Together as a group they had to share $.56 from each album sale.  And that was before all of their expenses got paid.

On a different Behind the Music, the members of New Edition described their feelings when they returned from a summer long 40 city tour to get a check for under $2.00 for all of their work.  They returned to the same projects where they grew up in Boston, Mass. … to hundreds of screaming fans but with out any money.

SO the Record industry has been getting away with robbery for years. That is why I find it ironic that now they are complaining about the free music on the internet.  Chuck D of Public Enemy (yes, this is the group, Flava Flav is the hype man for) described their latest album on the Tavis Smiley show on PBS, said that they have a fantastic fan base, and that they are releasing their own music now.  Tavis asked Chuck D what about the music industry and Chuck D said, hey, the recording industry is in trouble – not the music industry.  With all of the tools available, via the internet, the music industry is having some spectacular years.  But the record industry – they are in trouble.

On Business Nation, Edgar Bronfman Jr. the CEO of Warner Music Group, which is home to some of the best-known record labels in the music industry, stated that they are going to have to change the way revenue is collected from their artists.  Currently, most album sales revenue is given to the Record company and the concert sales are given directly to the artist, but now since that is the only way to make money – they believe that they should get a piece of that action too.

I make the statements about the artists to bring it back to Public Enemy and Bare Naked Ladies.  They now make direct sales to their fan base.  They left the Record Industry to have a direct relationship with their fans.  Bare Naked Ladies is filling up stadium after stadium even though they have not had a traditional hit record in almost 5 years.  But they are very connected with their fans, they blog 3 times per week, they sponsored a cruise last year with their most dedicated fans and release albums directly via their website.  The lead singer of Bare Naked Ladies said that instead of getting $3 per album, they are getting almost $8.  What a big difference!  Plus they have control over everything and creative license to do what they want.

Kelly Clarkson would love to be able to say that!  Especially in light of her big public feud with RCA Chairman, Clive Davis.  Reportedly, he did not like the song choices on her album and did not think it would be a hit.  She retorted that he is 75, she is 25…of course they would have differences. But if he did not bless the album, she would not get any promotion assistance and the album could die tomorrow.  She could learn a lesson from Bare Naked Ladies and Public Enemy.  Public Enemy’s latest album has 17 great tracks on it.  What ?  17 tracks?  Never – in the record industry!

The lesson to be learned from this trend in the music industry is to build your own customer base, put a fence around it, use every media available to communicate with your customer base and continue to give the people what they want.  Bare Naked Ladies’ website reminds me of a Dan Kennedy influenced website.  It has a form to gather information so that they can re-contact the fans later.  There is information on the next cruise.  Additional pages include bios, blogs, the sale of cover art work and other Bare Naked Ladies signature items, a place where you can request additional items that they are currently not making, information about tour dates, a bulletin board to communication with other Bare Naked Ladies fans, a MySpace page and they even have GOOGLE ADS running – any way to make a buck.  But they are doin’ it!