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How to let people help you

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1200x1200--GeniusShared ReadEntrepreneurs are a bizarre lot.

The lone wolf mentality that enables them to strike out into the unknown can also be one of their greatest impediments to growth. There is a certain egomania and self-assurance at work in their make-up that helps the entrepreneur weather emotional, financial and other figurative storms in their lives as they press on toward a goal that sometimes only they can see.

They are resilient, resourceful and sometimes stubborn. They have to be, in order to protect their vision and dream.

But the best and most successful entrepreneurs have figured out how to balance their “independence trait” with the ability to accept help when it is needed. They have learned how to be “strategically weak” so that they can become even stronger and more capable in the long run.

There’s a saying that pride goeth before a fall, and in the case of those who haven’t learned how to ask for help, this saying especially applies.

Pride restricts. Pride reduces options. Pride weakens.

“Humility is not thinking less of yourself, it’s thinking of yourself less.” ~ C. S. Lewis

This is an important distinction when understanding esteem, worthiness and what you bring to the table during any ask for help. Sometimes the ask is framed as a “value proposition,” which is just a shiny term for energy exchange. Whether approaching a vendor, investor or potential client, you must balance what you get for what you give/offer.

The law of reciprocity is social physics.

However, this law also applies when asking for help. Understand that at every point at which you ask for help from someone, you yourself have something of value to offer. With this in mind, here are some suggestions when you wish to ask for help:

  • Have a solid understanding of your strengths and capacity
  • Be willing to offer those as “collateral” to the person/entity from whom you are asking help
  • Don’t apologize for needing help
  • Learn from the person/entity who offers help
  • Pay it forward

The paradox is that we are at once at our weakest and our strongest when both accepting and offering help. It is a privilege to be both giver and receiver. Once you understand the physics of exchange, you will see that each participant in the equation benefits and expands.

“The dynamism / of like meeting like expands / both bodies in turn.” ~ MCK, Haiku

Letting people help you gives you a chance to strengthen yourself; allows a “stronger” person to give back into the karmaic exchange of energy and all benefit from the repercussions of the transaction. Have you ever helped someone else? Has anyone helped you? What was the result? How did you benefit?

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Molly Cantrell-Kraig is a woman with drive. Possessing an innate sense of purpose and a pragmatic, solution-based approach to empowering people, she fused these two traits in order to establish Women With Drive Foundation. Based upon its founder’s personal history, Women With Drive Foundation is a means through which Cantrell-Kraig may effect change on both a micro and macro level. By providing women with something as essential as personal transportation in order to transition them from poverty to prosperity, she, through Women With Drive Foundation, seeks to empower women to help them help themselves. Through this action, the individual applicant benefits, as does society as a whole. Follow Molly on twitter as @mckra1g or @WWDr1ve (Women With Drive Foundation) or “Like” them on facebook.

SOBCon Block One and Giveback Sunday Revealed

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Sean Ogle

Building Relationships: Turning First Contacts into Customers
A couple of weeks ago, we told you about Sean Ogle. This week we’re excited to announce that Sean will be the first presenter Friday morning, May 3. Sean will draw on his own experiences to show you how to:

  • Establish the relationship at the very first contact
  • Identify a need you can fill
  • Build trust in your offer

Give-Back Sunday
After two days of packing our heads full of fantastic ideas at SOBCon, we get the opportunity to do something that can make a big difference: Give-Back Sunday.

Hosted by Mark Carter, we’ve got three organizations (we’ll announce the 4th soon) that we’re very excited to help this year:

We’ve had several people tell us that this part of SOBCon ends up being their favorite part of the weekend.

Vertical integration and your business

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By Katherine Pilnick

You’ve probably heard of vertical integration, a trend to minimize middle-man work and bring products to the marketplace in as few steps as possible, and you may be wondering if it’s right for your business. Vertically integrated companies have control over more than one part of production. They may partner with companies that work with the product before or after them, or they may take care of more than one step of the process in-house.

Vertical integration gives manufacturers more control over their products, including reducing costs. Customers also benefit, as they can discover otherwise lost local business and may enjoy price cuts because of lowered production costs. However, vertical integration isn’t always the best option, and its effects should be considered for each unique set of circumstances.

Vertical Integration in Modern Markets

One of the most prominent examples of vertical integration is Apple, which designs and develops the hardware and software for all its products, and also puts out the final products. While specific parts of production may be outsourced, Apple’s overall vertical integration gives the company more control over its product. It also ensures that the company has unique products that customers cannot find elsewhere.

Amazon is another well-known example of vertical integration. Its online marketplace and its Kindle products act as book distributors, and the company has evolved to publish books, as well. In this way, it took over another piece of the production line.

Amazon and Apple are prime examples of companies that have become significantly more involved in their product lines than is typical at other companies.

Choosing to vertically integrate your business is a big decision, and one which involves a lot of thought. It requires access to resources that small startups often lack, but it expands opportunities for future growth and success.

The main advantage of a vertically integrated business is that it will make your product unique, so that no other company can offer exactly what you have to offer. That way, you can build a loyal customer base as your company grows.

Despite its pros, vertical integration won’t help every company, especially one that’s already on thin ice financially.

Key Considerations

Vertical integration requires a company to take on new responsibilities in production. While this can save money for business in the long run, it requires an immediate financial investment to pay for additional equipment and labor.

Likewise, entrepreneurs must be careful that vertical integration does not spread the company’s resources too thin. The company must set its priorities and stick with them, without allowing its new responsibilities to take over the core business goals.

Unless your business is already hugely successful, you’ll have to determine if vertical integration is right for your particular scenario by weighing the pros and cons.

Discuss it with others at your company to gauge how willing they are to take on the risk and responsibility. You can also seek professional advice at a bank, since the new endeavor is likely to require a small business loan. And remember that there is no need to rush the decision. In most cases, the opportunity to expand will always be there. If you don’t take advantage of it now, you can change your mind in the future.

Author’s Bio: Katherine Pilnick is a writer, blogger and editor for Debt.org, a debt help website.

Should I Follow My Dreams and Open a Small Business?

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The dream never dies for many individuals who envision the thought of starting up their own business and realizing part of the American dream.

With the present state of the economy, however, there are many who fear that the timing for opening a business is not good presently and may not be good for some time to come.

The present timing, however, may actually be good for starting up a business, especially given the fact that the job market continues to remain sluggish at best.

If you’re contemplating thinking about opening a business, here are some things to consider:

  • Compile a professional business plan – Never go into battle without a solid plan, especially when opening your own business. The most important aspect of the plan should be the financial angle, detailing how you will see a return on investment (ROI) sooner rather than later. Unfortunately, too many individuals fail to put together a winning plan or even a plan in general, leaving them ripe for failure;
  • Employees or all on my own? – One of the big questions for individuals is deciding if they will go it alone or have staff on board to help them with their business. On the plus side of going it alone, you are saving on salaries and possible health benefits, along with not having to look after others, whose decision making can impact your business at times in a negative manner. On the down side of going it alone, you are tasked with much more work and effort, leaving you little time for anything else;
  • Don’t be afraid to seek advice – For too many people starting out on their first small business venture, they’re afraid to get advice from other like professionals, including possible competitors. While you don’t have to ask 100 questions, do not be afraid to have some discussions with others who have successfully turned their dreams of owning a small business into a reality. Owning a small business is a continuous learning process, so be prepared to learn seven days a week;
  • Have a Plan ‘B’ in place – While you have to have a clear and positive attitude when opening up your new small business, don’t forget to have other options should things not work out. How will you cope financially if the business does not take off or even has to close? Do you have enough financial resources in place to support you and/or your family if things fail? What timetable do you have in place if things are not working out to pull the plug on it? These are just some of the things you need to be able to answer sooner rather than later;
  • Stay positive – This is likely the most important but less thought of matter. It is very easy to turn negative when the bills start piling up, you hit a lull in customer sales, and the outlook is bleak. Throwing in the towel on your lifelong dream should only happen when you have exhausted every alternative and then some.

As you can see, opening your own small business, especially in today’s up-and-down economy, is challenging at best.

Then again, don’t you like challenges?

Photo credit: yourpassionatebusiness.com

Dave Thomas writes extensively for B2b lead generation online resource Resource Nation that provides expert advice on purchasing and outsourcing decisions for small business owners and entrepreneurs. He is an expert writer on items like factoring services and is based in San Diego, California.

Priorities for Entrepreneurs #4

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I recently had the opportunity to review a book for entrepreneurs that had some great advice, a list of seven priorities for the critical first year of business. The more I thought about this list, the more important that it seemed to me. So I have decided to create a series of posts elaborating on this theme. While “Young Guns“, by Robert Tuchman, is targeted to a just-out-of-college-and-wondering-what-to-do market, I believe that these priorities apply to anyone starting a new venture.

Talk to absolutely everyone about what you do.

During the first year, you must be the mouthpiece for your business. Talking to people about your business at parties, at family gatherings, at outings like sporting events should become second nature. Consider every person who crosses your path a sales opportunity, even if he or she might not ever be the end customer. In addition to continual word-of-mouth marketing, pick up the phone and call reporters to let them know what you are doing.

This strategy of always talking about your business is essential. Blog about it. Tweet about it. Leave comments on other people’s blogs to show your knowledge and credibility.

I also like Tuchman’s advice about reaching out to reporters. In fact, Free Press Release.com has a service that allows you to publicize your business and Peter Shankman has a pretty cool service called Help a Reporter Out that allows you to answer questions or provide interviews to journalists looking for help with stories. [Ed. Note: I do this all the time, it is fantastic]

Do you have any other suggestions for getting the word out about your business? Share them in the comments.

Priorities for Entrepreneurs #3

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I recently had the opportunity to review a book for entrepreneurs that had some great advice, a list of seven priorities for the critical first year of business. The more I thought about this list, the more important that it seemed to me. So I have decided to create a series of posts elaborating on this theme. While “Young Guns“, by Robert Tuchman, is targeted to a just-out-of-college-and-wondering-what-to-do market, I believe that these priorities apply to anyone starting a new venture.

3. Get your website up and running

Your website has to say “This is who we are” to the world in a way that is compelling. A great web design doesn’t have to cost a fortune. If you don’t have the HTML skills or graphic talent in-house, look for a young and hungry web designer who’s looking for a shot, as you are.

Expect to update your website regularly and improve it constantly over time. Having a website with months-old or irrelevant content is a real deal-killer. It makes your company look stagnant, at best.

website-screencapAt the worst, it makes your company look unprofessional and incompetent. Your website is your online brochure, your 24-hour answering service, and your business resume, all rolled into one. There are also compeling reasons for your website to include a blog.When considering content for your business blog, you should consider calling one of your customers and asking them for an interview.

You can then ask some questions and post the Q & A right on your website, with a link to the customer’s site (sharing is good!). I recommend that these interview questions should be along the lines of:

  • How can our business help you succeed?
  • Why is our product/service important to you?
  • What is the impact of this decision upon your own business?
  • What happens if you don’t do something about this situation by using our product/service?
  • If you were to identify the business tactics most critical to your success, what would be number one?

When you understand your customer’s emotional connection with your product/service and how it influences their need to buy, you can position your product/service in the market for what it will do to address that emotion.

If you can help them address their “need-behind-the-need,” then a prospect becomes a probable purchaser and, ultimately, a customer. Your website is a very powerful tool for doing just that.