Insights on “Why ‘A’ Students Work for ‘C’ Students—and ‘B’ Students Work for the Government”

In an exclusive for StartupNation, Robert Kiyosaki, successful entrepreneur, investor and author of the #1 Personal Finance book of all time, “Rich Dad Poor Dad,” offered his insights related to his new book, “Why ‘A’ Students Work for ‘C’ Students—and ‘B’ Students Work for the Government.”

In regard to this financial education guide for parents, here’s what Robert had to say:

Why did you write this book?

I wrote “Why ‘A’ Students Work for ‘C’ Students” for parents because parents are a child’s first and most important teachers—and they have an important job to do. They can truly influence the future of their children, because if they don’t teach their kids about money, they can’t on the school system to do it. Schools teach kids what the school system believes they need to get a good job… which, from my point of view, sets them up to be slaves to a job and a paycheck all of their lives. My poor dad was a well-educated school teacher with a Ph.D., but I struggled in school. I didn’t get good grades and flunked out of high school—twice. In fact: I hated school. But I love to learn. Today, I (the “C” student) hire “A” students, like accountants and attorneys, to work for me.

The financial crisis has just started and as more countries and baby boomers go broke, who do you think will foot the bill for life-support? Your kids, that’s who. And it’ll take the form of higher taxes. That’s why I wrote this book. I want to encourage and support parents who want to give their child a financial head start in life. And it starts with understanding money.

Since the school system is not giving children a financial education, are they teaching our kids to be poor?

I think schools are teaching kids to be poor, but worse than that they’ve teaching them to be slaves to a paycheck. That could be one of the reasons why the dropout rate is so high in schools today. As a young kid back in the ‘50s and the ‘60s, I kept asking my teacher, “Why don’t you teach me anything about money?” I never got an answer to that question.

And today, most schools still don’t teach kids about money. Whether we’re smart or stupid, rich or poor; we all use money in our everyday lives. It’s an important life skill and it’s up to parents to fill the void.

We’ve got to teach our kids about money because the United States is broke. We’ve spent billions on public education, and poverty keeps increasing. The rich get richer, the middle class is getting squeezed harder and harder… and the poor are getting poorer and poorer. What’s wrong with this picture?

Then, do you think parents should train their children to be entrepreneurs?

Only a child can decide that. I wouldn’t decide that for them. I don’t think there’s anything more pathetic than some kid who does what his parents want him or her to do. Instead, give your kids some financial education and then they can make their own choices later on in life.

If your children do not have a financial education, then they will probably end up being an employee or a self-employed specialist. And today, employees pay at least 40% of their money in taxes and the self-employed pay about 60%. Meanwhile, people who own large businesses pay only about 20%, and investors with a high level of financial education and well-structured investments can often pay nothing—0%—in taxes. Very often the people who end up paying the most in taxes are the ‘A’ students who get out of school and become doctors, lawyers and attorneys.

Kids who have a financial education will have more choices in life and not be stuck working for someone else or living off government hand-outs.

What can a parent do to start giving their child a financial education?

I outline some specific activities—Action Steps for Parents—at the end of each chapter of the book, but the most important thing is to make your home an active and fun learning environment. And it doesn’t need to be difficult. You can play games like Monopoly® and CASHFLOW®, discuss the day’s news and learn new, financial vocabulary words each day.

Every day we make real-life decisions about money so start sharing this information with your children. For example, show them what happens when you don’t pay your bills, how tax payments are taken from your paycheck or how you plan for unexpected expenses. You can also help them set up their own small business to learn about money and investing firsthand.

The point is to teach your kids about money at home because they are not going to get a financial education in school.

Thanks so much for your time Robert!

For more information about Robert Kiyosaki’s new book, “Why ‘A’ Students Work for ‘C’ Students—and ‘B’ Students Work for the Government,” visit www.richdad.com.

Don’t Lose Out on Valuable Opportunities.

Your finance people are focusing on their jobs to provide accurate accounting services and keep the company’s budget in tact. Your tech teams are trying to keep your computer systems running and secure. But as I discussed last week, it’s essential to open the lines of communication in your organization. If you don’t get these two teams talking, you are missing out on a competitive edge.

For example, by opening up communications, you can make better decisions about purchasing software and data security. Plus, you may discover new technologies to run payment and invoice processes more smoothly… saving time and money.

Once your tech experts learn about the daily activities of your finance team, they can help provide solutions to increase productivity and solve problems before they become major issues. Your finance folks will be able to do their jobs better, and you’re tech people will be able to do what they do best… provide technology solutions to help the company reach overall goals.

Easier Said Than Done?

Ok, so you’re ready to get your finance and IT teams working together. Where do you start? Ask yourself these questions:

1. What do these teams have in common?

When you think about it, your finance people have A LOT in common with your tech people. Both teams deal with numbers or codes, maintain private information and stick to tight deadlines. Mistakes can mean a loss of company investors or potential customers leaving your Website to buy from the competition. These people are under a lot of pressure to provide accurate information in a timely manner. Why not have them work together to ease some of this stress?

2. How can these teams get to know each other better?

Why not set a time for both sides to meet in an environment outside of their individual departments? But instead of the usual, boring meeting, plan an event people will want to attend. Offer a fun breakfast with entertainment, have a food truck deliver a unique lunch or hold an event at an outside venue. Be creative!

Then, at your meeting, discuss how each team functions, issues that waste resources and current successes. Review company goals and problems. Then, get teams together to discuss solutions and ways to improve processes.

3. How can you keep the communications going?

After your initial, team get-together, send out a note to thank everyone for attending and review what was discussed. Then, include an agenda for next steps with project deadlines, responsible parties and the date of your next get-together.

Keep this process going and be sure to discuss all activities. This way, you can see what’s working and fix what’s not. By celebrating small successes and team work (you may want to have fun, internal contests as part of this process too), your employees will see the benefits of communicating and working together.

Everybody wins!

While your finance people and your tech people have different responsibilities, it’s essential that they work together so that your business can be as competitive and successful as possible. To open the lines of communication, start with a fun and creative meeting between teams. Get them talking and set up specific projects so they can work together to solve problems.

Then, review activities on a regular basis to see what’s working and what’s not. Your teams will begin to form valuable relationships. They’ll be able to do their jobs better while helping the company save time and money.

What are you going to do today to get your tech people talking to your finance folks? Please comment below, or write to me at The Rich Dad Company, customerservice@richdad.com. I look forward to hearing from you!

Tell us about your business.

FutureDash is a technology startup focused on an energy management solution called EnergyBuddy, www.energy-buddy.com. It gives homeowners and small businesses awareness of their energy usage, helping them to save energy, money and the environment.

Although there are a few other home-energy, monitoring products available, we feel that EnergyBuddy is the lowest cost, most complete, most flexible solution, including all necessary hardware, software, mobile apps, and optional SmartPlugs for individual device and appliance monitoring and control.

We are self-funded up to this point, and decided to try crowdfunding for funding the working capital and other expenses for our first volume production order, by means of customer pre-orders.

Why did you decide to use IndieGoGo over other, crowd-sourced fundraising sites?

Our first choice was actually Kickstarter, which is much better known than Indiegogo, especially for technology projects, and already has a large built-in audience of technology enthusiasts and early adopters. Unfortunately, Kickstarter declined our project for unknown reasons so IndieGoGo was the obvious choice and appears to be number two amongst crowdfunding sites at this time.

What were the benefits of using IndieGoGo?

It provides an easy way to organize and advertise our pre-ordering campaign, a great way to raise working capital for our first production order and engage real, early-adopter customers.

Plus, the questions and feedback we have received from some of the customers that are pre-ordering are invaluable for helping us improve our product collateral, such as documentation, website, FAQ etc. (before we deploy to a broader audience), prioritize new product features on our product roadmap, and discover new ideas for product features and ways that customers would like to use our product.

Indiegogo also has no approval process, and it’s easy to get answers to questions by email from a real person!

What were the risks involved?

IndieGoGo gives you the choice of Fixed or Flexible funding. Flexible allows you to keep all the funds raised minus fees. With Fixed, you have to reach your goal in order to get the funds raised (all or nothing). Since we need to meet a minimum order quantity with our manufacturing supplier, and hence need a minimum amount of funding, we chose to use Fixed. Hence, the major risk was that we do not meet the goal.

With IndieGoGo, since there is no large built-in audience of technology enthusiasts, there is a big risk of not being able to drive enough traffic to the campaign in order to convert enough visitors to contribute funds. Marketing of the campaign is largely left entirely to us, and as a small startup with limited resources internally and for any major PR campaign, this has been the most difficult aspect.

What tips do you have for other entrepreneurs looking to use crowdfunding?

Our campaign ends on August 19^th, so we are still waiting for the final results. But I would recommend that others using crowdfunding should be very prepared:

• Study successful projects similar to yours to guide you in putting together your project.

• Have a great video for promoting the project.
  
• Crunch your spreadsheets to know as accurately as possible how much money you will need, and include all the costs you will need to cover to deliver on your project, from soup to nuts.
  
• Make sure you have a solid, operational plan for executing the project and delivering to your funders in the timeframe you promise.

• Be prepared to put in significant effort on marketing and PR to advertise your campaign, especially, if you need to raise a significant amount and can’t rely just on your own network for all the funding.

Thanks for your insights on crowdfunding, Kevin!

If you’d like more information on increasing awareness for your business, please write to me below or at www.rembrandtwrites.com.

Today, I spent a few moments taking deep breaths, and I am getting back on track with following my own advice to schedule, plan, and manage better.  I skipped yoga this week — shhhh (but I am back on track so that is what matters).

In the middle of my extremely frenzied week, I have been pondering a particular question….Is bartering among small business good or bad or maybe a bit of both?  Don’t ask me….I am asking you, StartUpNation.

A few months ago, I commented on a great post on bartering that I was a big fan of the idea…..After all, what better a way for up and coming small businesses to help one another out when cash is limited?  Of course, when bartering, terms have to be arranged and the barter arrangement has to be mutually beneficial.

I have a few barter arrangements set up with other small business ventures, and they seem to be doing pretty well.  BUT, what happens when the relationship outgrows the barter?  Often there comes a time when the needs of one of the parties involved are larger than the barter, and the relationship has to move towards a fee for service model.  Does the former barter relationship affect the new relationship positively or negatively?

It is one thing to work out an amazing barter business deal where I give you something that you need and you give me something in return, but at some point, one person usually needs more.  When that point happens, if you are on good terms with the other party, you would want to continue to do business with them.  After all, presumably they were involved in your business since the early stages and already know vital information.  This relieves you of an orientation period with a new vendor.

Although something strikes me at this juncture….this is where the barter could possibly come back to bite you.  What if subconsciously the person inflates their estimate or price to overcompensate for the time that they bartered with you?  On the flip side, maybe you think the estimate is too high because you are not the fee for service end of the deal?  Does resentment build from bartering?

What can keep a barter relationship on the straight and narrow?  Can a business relationship that began through bartering move on to a fee for services rendered relationship?

I admit -  I have some thoughts, but not the answers.  Let me know what your thoughts are - Rachel

Keep checking in with me at http://backngroovemom.com where I have some great changes, additions, and surprises coming (hence the frenzied week).

Recently, I attended a book signing for Robert Kiyosaki’s new, best-selling book, “Unfair Advantage – What Schools will NEVER Teach You About Money.” The author of the number one personal finance book of all time, “Rich Dad Poor Dad,” investor, entrepreneur, educator, and co-host of the new radio show, “What Does It Mean to You?”, agreed to share some of his tips with the StartupNation audience.

Here’s what Robert had to say:

In “Unfair Advantage,” you mention that schools don’t teach us about money. Why not?

I believe the reason for this goes back to 1904 when John D. Rockefeller took over the education system in the United States with the General Education Board. And ever since then, the rich have controlled what is taught in our schools. Rockefeller’s purpose, it seems, was to find the brightest and the smartest people who had no financial education. Then, they would need a job and work for him. That’s my opinion.

Why is it important for people to read “Unfair Advantage”?

If you read Rich Dad Poor Dad, it was my story when I was nine years old. It’s very simply written about my poor dad, who was the head of education for the State of Hawaii with a Ph.D., and my rich dad, who was my best friend’s father. Unfair Advantage is me in my sixties now. I’m doing exactly the same thing I was doing when I was nine, but today, I’m doing it in the millions.

Decades have passed, but my financial strategies have never changed. In Rich Dad Poor Dad, which came out in 1997, I said that your house is not an asset. And rule #1 from my rich dad was that the rich don’t work for money. 

Most people go to school to get a job and spend their lives working for money. As long as you’re physically working for money, you’ll pay more taxes than guys like me. Unfair Advantage is basically Rich Dad graduate school using 2010 examples.

With the high unemployment rates, many people want to start their own businesses. Other than read your book, “Before You Quit Your Job,” what advice do you have for these people?

“Before You Quit Your Job” covered what you should know before you quit your job because there are basically eight integrities to a business. And the reason nine out of ten businesses fail is because they may be good at seven of the eight, but it is number eight that gets you. A successful business needs all eight of the integrities of a business strong and working together.

Most people leave school too highly specialized. They don’t know anything about business, accounting, legal, or cash flow. And that’s where they get crushed. 

My message to people is this… if you’re following the old advice of the middle class which is go to school, get a high-paying job, work hard, save money, get out of debt, and invest in a portfolio of stocks, bonds and mutual funds, you’re being crushed.

The reason you want to be an entrepreneur is to get out of the middle class. The middle class is being wiped out right now. 

Is it a good time to start a business?

It’s not timing that’s the issue, it’s how you prepare. The fact is that it’s not that hard to be an entrepreneur. My next door neighbor’s little girl comes over, and she polishes shoes. She’s an entrepreneur. 

The trouble is that most people go to school and look for a high-paying job. The problem with getting a high-paying job is taxes. If you work hard and make more money, you move into a higher tax bracket.

That’s not financially intelligent, and they’ll never teach you that in school. To me, that’s stupid. For the middle class, they are going to pay more taxes and struggle with rising inflation. How do you get ahead doing that?

How do business owners put the Unfair Advantage to work for them?

Unfair Advantage is about capitalism. And believe it or not, the tax laws are written for capitalists. The tax laws are telling you what to do. This is what the government wants you to do – provide housing and be an entrepreneur to create jobs. And for that, the government will give you huge tax breaks.

Looking back at your success as an entrepreneur, what would you have done differently to achieve a higher level of success faster?

I can’t say I would’ve done anything differently because every mistake I’ve made was someone showing me how stupid I was. The more mistakes I made, the more stupid I found out I was, and the smarter I became.

That’s why most people who do well in school are not good entrepreneurs. They’ve been programmed to not make mistakes… so I can only encourage people to be stupid and learn from their mistakes. 

It’s called “Unfair Advantage #5”, the law of compensation. The reason I make so much money today is because I’ve made so many mistakes…. so start making mistakes. Mistakes are very good for entrepreneurs and very bad for accountants, lawyers and brain surgeons. You don’t want a brain surgeon making a mistake! It’s a different world for entrepreneurs.

Many people are in a really bad situation now. They are unemployed with huge credit card debt and are on the brink of losing their home and claiming bankruptcy. Plus, many of them are over 40. Is there hope for these people, and what do you suggest they do first to change their financial situation for the better?

They probably need to ask themselves why they got themselves into such a precarious position. And second, I’ve been there. I’ve lost. The most depressing day of my life was when they repossessed my Harley Davidson. I’ve had the IRS after me because I couldn’t pay my taxes. But all of those were fantastic learning experiences that made me smarter and wiser.

I think the best thing that happened to me was to lose my business at age 29. I’m glad I didn’t lose it at 49. It took me six years to dig myself out of nearly a million dollars of debt. I didn’t declare bankruptcy. I just paid everybody back. I rebuilt my business, and that’s when I got smarter, and I’m still getting smarter every day.

Today, I can make that money back faster. And that’s the attitude an entrepreneur has to have. Mistakes are a learning experience. 

There are many financial scams out there. How do people find credible information and advisors to help you and avoid being ripped off?

It’s the same as finding the perfect husband or wife. You don’t know until after you get married! Cut your losses early, and figure out if you are the cause of the problem.

What is the best piece of advice you ever received and how did you use that advice to succeed?

I have a B.S. degree, and I’ve never used anything I’ve learned at school. When I found out I was not really good at school, I got through by cooperating. I always sat next to the smartest people in school. In the real world, that’s called cheating. Today, it’s called collaboration.

I’m extremely lucky to have very bright partners. That’s one of the most important things you can have.

You’ve got to be careful who you hang around with. I used to have a lot of friends, but they didn’t continue on as partners. They did not keep expanding their education. They were complacent. And today, I can’t even talk to them as we’ve become such different people. I kept moving on. I kept getting educated and growing. 

And in 2009, one of the best things happened. One of the most influential financial groups in our hometown invited Kim (my wife) and me to be business partners. And that’s how I knew I was doing o.k. You know you are making progress because your friends change.

I’m sure you’ve heard people say, “Do what you love.” But I think you must do what you must do. A lot of people cannot do this. As an entrepreneur, I guide my business and my activities to get paid the most money and pay the least taxes.

What are your favorite media venues to get financial information you can use to enhance your financial education?

I read “The Economist” and other financial magazines so I’m abreast of what’s going on. I’m always taking seminars and classes.

What you’re going through now as an entrepreneur is incredible. That struggle you’re going through is one of the best things you can go through to learn. But don’t stop getting educated.

Get mentors and advisors and attend classes. Choose your teachers carefully, and make sure they have real-world experience. If you’re not changing, then you’re not growing.

Are there any additional tips you would like to provide specifically to the entrepreneurs out there trying to start and grow their businesses?

First, congratulations for the struggle. If you’re already struggling, you’ve taken the first step. You’ve got to be careful of your teachers, your partners and your friends. And you’ve got to do your part. If you’re stupid, people who are smart are not going to want to hang out with you.

You can’t stay still because the world is going too fast today. If you’ve already started, congratulations, but don’t stop now!

Thanks so much for your great words of wisdom Robert! For more tips to succeed, please check out “Unfair Advantage” and all of the information at www.richdad.com.

And if you need help with your SEO copywriting and PR efforts, please let me know here or at www.rembrandtwrites.com!

Well, I just heard from another entrepreneur who hired a big, SEO research firm. Unfortunately, things did not go well, and this new business owner needed some help.

With this in mind, I thought it was time for a quick review so here are:

The Top 3 Ways to Get the Best Results from your Search Engine Optimization Copywriter:

1. Research.

When hiring a new SEO copywriter, have an extended conversation with that person and get all of your questions answered. (Ask about costs, expected results, timeframes, what is involved in reaching your
specific goals, etc.)

Also, call references, review work-samples and check for a good rating with the Better Business Bureau. This way, you’ll have some confidence starting your work relationship and know what to expect.

2. Communicate.

Once you start working together, keep in touch with your SEO copywriter on a weekly basis. You should know the status of all current and pending activities at all times.

And when you start a Pay-Per-Click campaign, launch a new Website, send out an e-mail auto-responder series or have another SEO project in place, ask for a report.

Since it is SEO, you can track clicks, top keywords, open rates, and other data to see what is working and what isn’t.

3. Review.

When you have some data for your SEO projects, review them with your SEO professional.

Stop the campaigns that are not getting results. Change keywords, overall copywriting, e-mail distribution times, subject lines, and more.

Then, test the variances to see what works best. Your SEO copywriter should keep track of the changes and keywords in a main database (note that you should own this database and all materials your SEO person creates for your business).

Communication is Key.

SEO is an ongoing process of research, tracking and changing so it’s essential to talk to your SEO copywriter on a regular basis and have a good, working relationship.

By monitoring activities and knowing which keywords and processes provide the best results, you can make the appropriate changes quickly.

This way, you save time and money while reaching your goals faster. More importantly, you will know what is going on and avoid being ripped off!

Do you have questions about SEO copywriting and how it can help your business increase sales and awareness fast? Please write to me here or at www.rembrandtwrites.com.

This way, you can practice your pitching skills with a smaller venue and begin creating media relationships to help your business grow.

But how do you start your publicity efforts?

1.      Research.

First, you want to read the local publications and figure out who writes about your industry or “beat.” Check out the archived stories online and also look for appropriate contact information.

If you don’t see a particular writer or reporter who covers your particular area of expertise, contact the managing editor or assignment editor. These editors are usually in charge of assigning stories to various reporters. 

2.      Practice.

What are you going to say?

Well, you could just pick up the phone and introduce yourself!

Tell the editor your area of expertise and the value you can provide as a resource to that publication.

You can also pitch a story pertinent to the publication’s audience. But with both of these methods, it’s essential to: 

Offer valuable information that relates to the local community.

After all, that’s what the local publication is all about and what the editor wants to hear!

For example, you can talk about how a national story or trend relates to your business and the local community, provide a case study about one of your local customers or offer an original opinion-piece or article pertinent to the publication’s editorial calendar. 

3. Follow-Up.

After you introduce yourself to the appropriate media contact, follow up with an e-mail or snail-mail letter. You want to remind them what you have to offer their audience.  

Remember to focus on their needs and how you can provide value.

And after your initial contact, you want to keep in touch with your new media contact. On a monthly basis, send a note about a recent article in the publication, provide information about an upcoming community event or ask how you can help.

Most local media venues are tight on staff and cash so they will appreciate your efforts.

Get Results.

By starting with these simple activities, you may end up with an immediate interview or a writing assignment. If not, at least you will build a strong, working relationship with the local press so they know who you are and what you have to offer.

Then, when it’s deadline time, and they need an expert resource for an upcoming story, you’ll be at the top of their list.

And if you are a new business owner, this process can teach you how to talk to the media at a low risk-level. After all, if you mess up your pitch with a small, local publication, you can learn from your mistakes and avoid them when you move on to bigger, national media venues.

With this in mind, try contacting your local media venue within the next week. It won’t cost you anything but time. Plus, you’ll increase your pitching skills.

And who knows?

You may end up with a media clip that builds buzz about your products and services, a new working relationship with the local press and third-party credibility you simply can’t buy!

Have questions about boosting sales, awareness and credibility with search engine optimization copywriting, social media strategy and public relations? Check out my new book, “Simple Publicity,” or contact me here or at www.rembrandtwrites.com.

Yep. I hear this a lot. And unfortunately, I have to tell a lot of entrepreneurs that they just wasted their money.

Maybe you can relate?

Did you just spend a lot of time and money on a search-engine-optimization (SEO) service promising you great exposure online… but you don’t see any results?

Well, I hate to tell you this, but if your site  is not showing up on the search engines, it’s NOT optimized!

Now, I know you may have just spent a fortune on this whole process, but it’s time for some tough love…

If your site is not showing up, you need to stop the denial. Review your process and find out what is missing.

Ask yourself these questions.

Did your SEO service:

• Conduct the appropriate research and provide you with a keyword database?
• Use this database to provide different keyword coding on each page of your site?
• Monitor and test various words and phrases to see what works and what doesn’t?
• Update your site content with the appropriate links and headers?
• Provide expertise in writing copy that sells and not just the technical side of things?

When it comes right down to it, your site is only going to show up on the search engines when you
provide value and unique information.

If you use shortcuts or avoid research and monitoring, you are going to waste time and money.

Yes, there are many SEO services out there that will do a great job. But if you want results, look at the
whole picture.

Before moving forward with any SEO service, make sure your tactics include the technical side of things
and the appropriate research, writing and monitoring for best results.

This way, your site will appear on the search engines and your potential customers will be able to find you.

Did you recently optimize your site but with little results? Please let me know here or at www.rembrandtwrites.com.

I recently spoke to Kimberly Palmer. She’s the senior editor and personal finance columnist for US News & World Report. And in addition to appearing on NBC’s Today show, CNBC, CNN, and local television and radio shows nationwide, she has also written for the Washington Post, The Wall Street Journal, and the Asahi Shimbun/International Herald Tribune in Tokyo as a Henry Luce scholar.

Well, with tax season upon us, I thought I’d venture a little out of the PR and marketing area. Instead, I asked Kimberly to provide some financial tips for small business owners and insights from her new book, “Generation Earn.”. Here’s what she had to say:

Why did you write your book?

I was frustrated with the lack of personal finance books written for people like me; people who are not downing in debt, but who still want solid financial advice to help take them to the next level. So many books for 20- and 30-somethings focus almost exclusively on debt issues, but I don’t think most of us are defined by our debts, as large as they might be. So I wrote Generation Earn to go beyond all the debt-talk and explore how to get ahead in today’s economy.

Why should entrepreneurs read your book?

Because almost everyone needs to act like an entrepreneur at least to some degree in the new economy, I profiled many entrepreneurs and devoted an entire chapter to the importance of being entrepreneurial.

Some people want to run their own business full-time, but others just want to start up a venture on the side, or have a second (or third) source of income to supplement a main gig.

When you’re an entrepreneur, it becomes even more important to manage your money well, because you need extra savings to cushion ebbs and flows in income, as well as plan for your own retirement, take out insurance, and anticipate taxes. I write about those unique challenges and how to successfully navigate them.

What one, main piece of advice do you have for entrepreneurs who want to leave their full-time jobs and start a business now?

The most successful entrepreneurs that I profiled in Generation Earn actually held onto their full-time jobs while they built their small businesses.

One woman worked as a paralegal while she slowly built up her yoga studio. When she finally quit, she already had a steady revenue stream from her studio and yoga clothing design business.

Another couple who started up a pet décor Web business still work their full-time jobs (as a lawyer and fundraiser) even though their Website is pulling in a steady revenue stream. Even though it means they’re getting little sleep for now, they know it’s essential for their financial security…. so my advice is to build up your business before quitting your full-time gig.  

What specific tips do you have for new business owners to help them save money and control business costs?

The first step is to figure out how you can save a significant chunk of whatever income you are bringing in – I recommend saving one-quarter of your pre-tax income, which includes retirement savings.  

The key to doing that, if it sounds impossible, is to start slowly and to automate. Set up your bank account so you are automatically saving two percent of your income each month. Then, slowly raise that to three, four and five percent (and higher).

As for controlling business costs, it’s important not to be overly frugal – investing in your business is key to growing it, so you might need to spend on advertising, Web design, or whatever makes sense for your company. Look for savings elsewhere: lifestyle costs, transportation, food, or housing, for example.

What advice can you give entrepreneurs to help them save on taxes?

Be super-organized! The classic mistake that so many people make is to wait until taxes are almost due before figuring out what they can deduct and where those old receipts are.

Setting up a simple filing system, or using a website that does it for you (such as myquickreceipts.com) can save you a lot of time and headache. If you know you are just not up for the challenge, then outsource the job to an accountant.

It can save you a lot of trouble and money in the long-run.

Thanks Kimberly! Those are great tips. If you’d like to learn more, or get a copy of Kimberly’s book, Generation Earn, visit www.generationearn.com.

And if you need help in saving money on your PR and marketing activities, please let me know here or at www.rembrandtwrites.com.

What do you do?

Small Business Public Relations to the Rescue!

It’s time to build buzz by contacting the media, posting SEO press
releases, using social media, and taking part in events, awards
and other activities to get the word out about your new, small business.

But before you move forward, there are a few things to keep in mind.

Here are the top 10 things to avoid when starting your small
business PR efforts.

Never:

1. Distribute a press release to thousands of media members
via e-mail.
It will go in the trash, and your system will probably crash.

2. Send out press releases without search-engine-optimization keywords.
You are missing out on a great opportunity to get more online attention.

3. Pitch a reporter during a deadline.
You will get the brush off.

4. Say “No comment” to the press.
There are better ways to respond to questions.

5. Hire a publicist who guarantees placements.
Due to the nature of PR, that’s impossible… unless, he or she
has full control over the actual media story.

6. Create your own Website without getting outside feedback.
You’ll be too close to the information and miss some important
errors and data.

7. Provide content that is feature-based, boring and old.
Instead, offer valuable information for your target market at all times,
and you’ll build long-lasting, customer relationships.

8. Forget to update your Website on a regular basis.
How old is the news and information on your site? If it’s not current,
you’ll look outdated and lose business to the competition.

9. Stop communicating with customers.
With today’s simple processes to create newsletters, blogs,
e-mail autoresponders, social media, and more, there is no reason
you should not talk to customers and get their feedback
on a daily basis.

10. Avoid any public relations or search engine optimization activities
because you don’t have the funds.
There are free and inexpensive ways to build buzz.

Successful, Small Business Public Relations Awaits!

These are just a few, quick tips to help you start your public relations
activities the right way, and avoid wasting time, money and effort.

For PR and SEO copywriting success, take the time to provide value
to all of your customers and the media, and you’ll build positive buzz fast.

Got questions about your PR and SEO activities? Write to me below and check out the free
information at www.rembrandtwrites.com and my new book, “Simple
Publicity” at http://www.rembrandtwrites.com/SimplePublicity.htm.