I’ve been working with the creators of StartUpNation since 2001 when I was hired to shoot Rich Sloan doing yoga on the conference room table in the Birmingham Michigan office of the up and coming StartUpNation.  I was recently offered the opportunity to blog about photography if I thought I could contribute to entrepreneurs and start ups. I think I can so I’ll give it a shot.  I’ll be talking about all things photography, from how to do a shoot in the office, to what’s the best stock agency for what your needs are, to rights and usage contracts.  I’ll be answering questions about any thing relating to the business of photography and photography in your business. If I don’t know the answers I’ll look to the vast knowledge base of my peers and will share what I learn with you, so post your questions and comments about you’re photographic quandaries here, and I’ll help you along the image driven super highway of successful businesses.

I should tell you a bit about me.
I began my career as a photographer early in life.  My brother had a darkroom in a closet at our house when I was a sixth grader.  It didn’t take long for my teachers at school to see an opportunity to recruit the next news paper and yearbook photographer.  That’s when I learned that you can have fun and provide a needed service at the same time.  I could get credits for graduation if I work on the year book and news paper staff!  Life was good.  Then one day I was handed a press pass to cover the cheerleaders for a story for the news paper, that was all the motivation I ever needed to pursue my career.  When I was a senior in High School I was introduced to an advertising photographer in my home town of Detroit named Ameen Howrani.  He let me watch him work one day, he was shooting a news crew for the local ABC affiliate.  It was very glamorous, they had food there!  I was face to face with the local anchor man!  That’s when I decided that advertising was where it’s at.  Fast forward 25 years.  I have photographed some really great people, some incredibly beautiful places, and some of the most interesting stuff you’ll ever see.  I picked up a few professional sports teams along the way as well.  Namely the Detroit Red Wings, Detroit Tigers, Detroit Lions, and currently Tampa Bay Ray’s as well as the NHL, NFL, MLB and other editorial venues related to sports. I’ve had unprecedented access to closed door behind the scenes events in the NFL, NHL, and MLB to name just a few. I was given the opportunity to shoot a book for the Detroit Red Wings called “48 Hours with the Detroit Red Wings”. Its a chronological documentation of what happens in forty eight hours in the world of the Red Wings Hockey team.  I was able to travel with the team to photograph players, coaches, and staff. We took two days to shoot the book so we could show the travel aspect of how the team lives on the road (and above the clouds).  During that shoot I was given access to coaches meetings that had never been photographed before.  One of the best experiences I had with the Red  Wings was Flying on the team jet to Washington DC to the White House to meet President George W Bush.   I was given an assignment by the Detroit Tigers Baseball team to shoot an eighteen page photo essay of Tiger Stadium during the final home stand ever to be played there.  The parting shot was Al Kaline in his nineteen sixty eight world series uniform (it still fit), pondering his days playing in that historic stadium.  The cover shot was of the stadium from the corner of Michigan and Trumble on a Friday night with fireworks lighting the sky.  I was able to get images never before captured, such as the neon Tiger Stadium sign from the roof of the press elevator.  I’m currently team photographer for the Tampa Bay Ray’s Baseball team, and have a nice client list of local and national companies and agencies as well.  I live in the St Petersburg area of Florida where I’ve lived for the past six years.  Before that I lived mostly in the suburbs of Detroit with a few years in New York city.  Please feel free to see some of the photographs I mention here at www.kovich.com

There are quite a few offices in your city which are not filled to capacity. You can utilize these spaces if you are looking to get your team into offices where they can work together. You can also use these spaces to hold meetings in. Of course, it is important to pay attention to what the cost will be to use these spaces so that you are getting what you need at a price you can afford. By having these kinds of spaces at your disposal, it is possible for you to be able to be more productive and feel more like a team than ever before.

Office Space

One of the ultimate things you can do for your business team is to provide office space in which you can work. You can look through websites like Loosecubes.com to find the office spaces that you are looking for in your city. These spaces can provide you with access to internet and service through VoIP service providers. This way you will not have to set up any services under the company name. You will only be responsible for paying the cost of the office rent to get access to everything your team will need.

Meeting Space

Even if you cannot afford to get an actual office space for your team, it is possible to at least get a place in which you can all get together as a team for business meetings. You can look in the same places which offer offices for rent to find meeting spaces which are cheaper than going to a hotel to utilize their meeting spaces. No matter what the expense, it beats having meetings in the coffee shop where you feel awkward brining in a whiteboard to strategize what is going on in your business.

The Cost

One of the things you are likely to wonder about in all of this is how much it will cost to get the space that you are looking for. It will all depend on the city that you live in, the amenities you will need such as a VoIP phone service or a complex printing system in the space you are renting and the amount of time that you are renting for. The longer that you rent, the less you may have to pay per month. All in all, it is possible for you to cut the cost of having a professional place from which to do business in half.

This one is especially for the ladies, because I think this is an epidemic issue with us.  But men, you are warmly welcome here!  I hope everyone gets something from this post….read on!

There are so many programs out there that talk about marketing, sales, Social Media, finding your bliss, etc….  All of these things are really important to be sure, but there is one area of launching a business that is so critical that is can be the difference between long term success or, well….at the risk of sounding dramatic…losing everything.  And amazingly, it routinely gets skipped, shortchanged or ignored.  That one critical step is creating a solid legal foundation for your business.

I think it gets overlooked for three main reasons:

First, it is pretty intimidating to think about, especially when you are new in business or don’t have experience with the legal side of running a business.  Most of us avoid what we don’t feel comfortable with, and this is no exception.

Second, I think we not only feel intimidated, but we feel scared often when talking about lawyer stuff.  For most of us, this is outside of our comfort zone and we don’t know what we don’t know.  Plus, the idea of hiring lawyer, someone who does know, is scary in and of itself, and it threatens to be an expensive process.  For many startups or small businesses, it seems like an expense that can’t be justified.

Third, I think the process of getting your legal foundation in place gets overlooked or put off because it is, well, just plain boring.  It is so much more fun to think about the creative side of launching a business, especially when you are doing something you feel passionate about.  I know that legal issues can be pretty dry - enough to make most people’s eyes glaze over.   It certainly doesn’t feel sexy or exciting.

Or is it?  Actually, while the process of getting your legal foundation in place might not be the most fun you have ever had, the act of it is incredibly sexy, smart and exciting.

Why?  Because the point of getting your legal house in order is that it frees you up to then get on with the fun part of running a business.  You will have the peace of mind that you have done all you can to protect your hard work.  Peace of mind is the best food for creativity, and it gives you mental and emotional freedom to take your business to the next level and to focus on what you love to do and what you are best at.  By taking the time to focus on it, you are making the choice to be smart, and to honor yourself, honor your gifts and honor your hard work.   I’d say that is pretty sexy!

For more information on how to get your legal foundation in order easily and without hiring an expensive business lawyer, visit http://www.businessbrillianceuniversity.com.

You can choose one of six options: Sole Proprietorship, General Partnership, Limited Partnership, Limited Liability Company, C Corporation or S Corporation. You will find that each of these differ to the degree of liability that you, as an individual will have and also how each is subject to taxes.

• A Sole Proprietorship means that you, and you alone, own the company and are responsible for both its assets and its liabilities. This is the most common and by far the simplest of structures, but as a sole proprietor, you can be held personally liable for the debts and financial obligations of the company. This risk also extends to any monetary obligations or penalties gained as the result of an employee of yours. Business financing will be much harder to come by and will also have more risk attached, as investors will not usually invest in sole proprietorships. Both a good and bad point, depending upon how you feel about it, is that you will be completely in charge. You will have the responsibility for making every type of business decision there is, from inventory, to suppliers, to employees, to the type of toilet paper you put in the restroom and if it will roll over or under. Some of the pros for having a sole proprietorship include the fact that if you decide to sell or transfer, you don’t have to get anyone else’s approval. There are few legal costs associated with forming a sole proprietorship and there are few formal business requirements. You also will not be responsible for corporate tax payments, but if this is the only reason that you are considering a sole proprietorship, you might want to think again.

• A General Partnership is when you contract with one or more other people in order to run the business with equal responsibilities and liabilities. These can be operative or financial and must be spelled out in regard to who has what responsibility and how much financial liability each partner has. These are formed by individuals and are taxed much the same as a sole proprietorship is taxed. Some of the advantages include the fact that business financing is more readily available as you can pool your financial resources, though don’t plan on looking to investors for business financing. General Partnerships are also situations that investors go into very cautiously. Finding business financing through an investor may be difficult, if not impossible. You also have others whose expertise and strengths you can depend upon to provide ideas and take on projects that may be beyond your own scope. A General Partnership comes with limited startup costs and there are few formalities to go through in order to form one. Some of the disadvantages are the difference of opinions that can occur. Partnerships can be fraught with discord as the parties have differing visions or goals. Partners are also personally liable for the business’s debts and financial liabilities, something I have counseled against over and over. It is also a situation where it is “One for all and all for one”. In other words, if one of you makes a business blunder or even breaks the law, all of you can be held liable.

• A Limited Partnership can be formed to bring in more expertise or skills or even money, but in this situation there must be at least one general partner that shares equally in the business’s financial obligations and responsibilities. Limited partners are often silent partners to the extent that they are not necessarily involved in the day-to-day running of the business, but may have other interest, financially or otherwise, and they will share in the profits of the business. Various reports will have to be filed with the Secretary of State for your particular state and each state has laws on the books that regulate the responsibilities and obligations of the partners in this type of business. Again, additional business financing may be difficult to come by, as investors are also cautious of this type of business structure, but with the partners in place, additional business financing may not be necessary and you are more likely to attract investors to a Limited Partnership than to a Sole Proprietorship or General Partnership. The reason for this is that the general partner in this relationship can be a corporation or LLC, which can be attractive as far as mitigating financial liability. The con is that the corporation or LLC can also be a part of and have a vote in the major decisions that affect the partnership. Your biggest problem may be in finding the general partner required, as they assume personal liability. Limited partners, on the other hand, can leave the business or be replaced without having to dissolve the Limited Partnership.

• A C Corporation is a traditional business structure that leaves you with little or no personal financial liability. It is established as a unique business entity and is a for-profit, state-incorporated business. Fees are paid and numerous legal documents filed, to include the Articles of Corporation. Unlike the above structures, business taxes are filed separately from personal taxes with the IRS and corporate taxes are paid on a quarterly, bi-annual or annual basis. Any debt the corporation incurs will not be the personal responsibility of the owner or owners. Business financing can be obtained by the corporation, not by the individual, and the corporation can own property, enter into business deals or even file law suits independently of the owners or shareholders. A big plus in having a C Corporation business structure is that the corporation can take advantage of corporate benefit health plans and group life insurance plans, up to a specified amount per employee. Retirement options are often better than those offered by non-corporate plans. The biggest downside is the double taxation that takes place. Besides paying corporate income taxes, the dividends paid to shareholders are also taxed at the applicable tax rate. Though the corporate tax rate can be higher, the initial taxes can be much lower. The first $50,000.00 is taxed at a rate of 15%, while a sole proprietor will be paying 28% on his or her personal income tax from the first dollar.

• The S Corporation, which happens to be my favorite business structure option, is much the same as the C Corp in reference to liabilities, but an S Corp is not double taxed. An S Corporation is only taxed on the personal level, which for the first $50,000.00 may be higher, but in the long run will be lower than what a C Corp will ultimately pay. It is also really easy to convert from an S Corp to a C Corp if your business grows to such an extent that you wish to change your business structure. Most of the paperwork will already be in place and the financials will be well-documented, so converting from one to the other is fairly easy and pain-free. An S Corp can have no more than 100 shareholders, for example, which would be one reason to convert to a C Corp. An S Corp also has residency requirements that a C Corp will not, but as long as you meet the criteria, I would definitely look at structuring your business as an S Corporation as opposed to any other. Business financing is usually the easiest to obtain when you are an S Corp, though both the S and C Corps commonly receive investor financing. The biggest difference between an S Corp and a C Corp is in the taxation and the additional risks associated with the higher taxation.

• A Limited Liability Company, or LLC, is a relatively new business structure that basically incorporates the advantages of a Sole Proprietorship with that of a Corporation. Basically, it operates as a separate legal business entity, but without having to incorporate and be subject to the rules, regulations and taxation of a Corporation. A fairly simple operating agreement is drawn up and agreed upon by the members, and then filed with the state, but shareholders are not required and the formalities that a corporation must adhere to are not upheld in the case of an LLC. Most LLCs must have two or more members, but some states are doing away with that requirement and allowing a single member to form an LLC. This is kind of a “you can have your cake and eat it too” form of business structure, and though I personally don’t care for an LLC, I can appreciate the advantages of an LLC, such as the personal liability protection and the more relaxed requirements when it comes to paperwork. Business financing is more readily available than for an SP, GP or LP, but not as easy to come by as if you had a Corporation. Some investors though are becoming much more comfortable with this newest form of business structure, just making sure that the structure of the LLC is designed to provide the investor with a specified amount of control.

So, do your research. I definitely suggest obtaining the services of either a business attorney or a financial advisor, especially if this is your first look at business structure and how it could possibly affect your business financing. And, I’d like to remind you that I always recommend separating your business finances from your personal finances; more than ever in today’s economy, well-informed decisions and erring on the side of caution will give you some form of financial protection.

Hillshire Farm ham and turkey + reusable Gladware

= Green, Money Saving, The-Big-Corporation-Proves-It-Can-Still-Listen-To-Customers

What partnerships could you consider in your business?

Example: B&B could supply guests with brunch vouchers to neighborhood eatery

• Inn keepers are off of cooking duty
• Eatery gets paid in full up front
• Guests can have what they want, when they want for a fixed price included in overall bill

1. Why will people pay you? (money, votes, donations)
2. What does it cost you to sell your item…margins?
3. What protects you from competition, price-feature battles?
4. How will you turn an agnostic audience into loyal customers?

Early on when transactions had no costs, doing anything at a huge scale was very cheap. In order to be successful (a subjective term), you didn’t have to be very big at all. Some efforts don’t look at revenue as the only sign of success, and it’s probably safe to assume they have no real business model.

Identifying tribes and determining the success of working with them is not a new idea; the concept of tribe mentality or acting in a way that benefits the tribe has been around since cavemen. But, the concept of bringing people together, of building tribes, makes the internet is the best friend of people focusing on the third component, differentiating yourself from the competition. Once a network is in place, it is extremely difficult for someone else to disrupt it. I’ll add to this that the network must be active, relevant and provide value. 

The internet, it’s “isms” and even some of our online behaviors are permeating our culture. It is affecting business models offline as well. Local t-shirt and records stores, traditional advertising firms, and political campaign have different business model than they did ten years ago—can you imagine Dukakis, Stockton, Bush Snr, or Dan Quayle, figuring out what tweeting means?

Viral marketing and the growth of cash-free marketing means that people can spread an idea farther and faster than ever before. It also makes it far cheaper for a competitor to enter the market.

Here are three examples of companies leveraging online to create mini movements:

What mini movement is driving your business?

Traditionally, companies that “do good” are generally non profits, and when people find out that a traditional small business is also “doing good” they feel like somehow the company must be taking advantage of the community it is serving if it is also turning a profit. I do not believe this to be the case and formed my consulting company based on the premise that small businesses would contribute to a triple bottom line if they knew where to find it.

Creative Capitalism has been around for a while. Formerly known as social entrepreneurism, it is a concept newly labeled by Bill Gates, Warren Buffet and other market leaders and the premise is that “we should attempt to stretch the reach of market forces so that more companies can benefit from doing work that makes more people better off.” The book is available on Amazon (unsure of where the profits go). So far, it’s a pretty foreign concept to most bottom-line discussions. Having spent time reviewing the giving trends of big tycoons in the past (land trusts, libraries, parks), there is something different about the timing of this idea: the generation that is receiving it.  

The 30 and 20-somethings have grown disillusioned with where the 1980s consumption and 1990s holding on behavior have gotten us. Those that have the means to get out and travel, see the disparity in the world, come back and want to do something about it. With technology to reflect back their experiences they are twittering, facebooking, myspacing and texting what they are seeing to one another – and a small group are doing something about it.

Why profile TOMS?

Two reasons: 1) Anyone who has seen true the true spirit of leadership in play knows it is the eagerness to lose oneself in the group for the good of the group. This quality is best exemplified in Blake Mycoskie for the simple reason: that is where the heart of his business began. One for One, from day One. 2) Any size business should learn that a social model (something that takes into account the community in which it survives) thrives 10-fold compared to businesses that have tunnel-vision on bottom line sales. There is something to be said for karma.

About the Company

TOMS Shoes promises to give to children in need a pair of shoes for each pair it sells. The company  has given over 140,000 pairs of shoes and expects to give more than 300,000 pairs this year.

TOMS Shoes launched in Venice, California and sold 10,000 pairs during the first year in business. As a result, Blake returned to Argentina in October of 2006 with family and friends and unveiled the second phase of his business plan: the Shoe Drop Tour. To meet demand, TOMS now offers Shoe Drop Tours throughout diverse regions of Argentina. These are volunteer opportunities where TOMS Shoes supporters hand-deliver shoes to children. Since its beginning, TOMS has given over 140,000 shoes to children in need around the world. 

Here is a bit of my discussion with Blake:

Why shoes?
BLAKE: Walking is the primary mode of transportation in developing countries. Children walk miles just to get food and water, to make their way to school, or to reach medical help. In some communities, children can’t even attend school unless they have proper footwear. And the leading plague in these countries is soil-transmitted parasites. Shoes are such a simple answer to these problems children face every day.

See TOMS educational videos: One Day Without Shoes and Why Ethiopia (warning on the second video for graphic images)

Technology is required in today’s job market. Is TOMS Shoes looking to attract a blended workforce, or does the average age of the workers in the company reflect a standard .com?
BLAKE: For the first few years, our staff reflected the young, evolving company that we were. But as we grow, TOMS is definitely looking to attract a diverse workforce. We’ve become much more aware of our needs, and therefore able to hire individuals with specific skill sets, relevant experience, and worthy knowledge. I am still the CEO and Chief Shoe Giver, and I continue to immerse myself in TOMS because it’s my passion. I have creative ideas and feverish curiosity, and my team is receptive to that. But I definitely have trust in those who are facilitating the every day, drafting direction, and establishing strategies.

Your company is for-profit. What sort of profit sharing model exists for the employees and how did you arrive at the decision to not do a nonprofit?
BLAKE: My earnings from other businesses I had started before TOMS are what kept us afloat in the earlier days- TOMS was not funded by an outside 3rd party. I never had to present a business plan or get approval, I just had trust in myself and the One for One concept. Of course people laughed when I said TOMS would give a pair of shoes away for every pair we sold, but now TOMS is proving One for One as a viable business model. Our customers have been amazing supporters since day 1.

I created TOMS as a for-profit business to ensure a sustainable way of giving. We’re able to give shoes weekly in Ethiopia, and monthly in Argentina. I also wanted to prove that you can build giving into your business model from day one and still be profitable. We get a lot of inquiries from all types of organizations wanting to get involved with TOMS in one way or another. It’s a blessing, really, but we have to be careful in these first critical years of building our brand.

You are an example of an individual whose actions will help define the generation they are in. Your generation is described as both the “me generation” and the “giving generation.” How do you think your generation should be characterized?
BLAKE: This generation is one that thrives off of action. We don’t dream about change, we make it happen. We don’t imagine a way to incorporate giving in to our daily lives- we do it. TOMS has so many young supporters who are passionate about the One for One movement, and who share the story and inspire others every day they wear their TOMS. Seeing them support this business model is proof that this generation is ready and able to create a better tomorrow.

People connect with TOMS beyond just owning another pair of shoes. There’s something more every time you slip on a pair, every time you share the story, every time you suggest a pair of TOMS as a gift because no matter what brought you to purchasing a pair of TOMS, you are making an impact on a child’s life. Will there be saturation of cause-based marketing? Most likely, but TOMS has paved the way for other entrepreneurs to incorporate giving in to their businesses.

The One for One mission is sticking with this generation, and causing a new way of thinking. We grew up with parents who were taking those first small steps, and now we are just charging full speed ahead towards a better tomorrow. We have to. One for One is proving that you can bring closure to an issue by incorporating a conscious decision in to the actions you already take- whether its as a consumer purchasing a product, or a business looking for ways to inspire a better tomorrow. It makes consumerism and philanthropy come together full circle.

Carpe Diem!

Lesson #1: It’s Always the Punch You DON’T See That Knocks You Down

Although it may seem that boxers just get out there and brawl, the sport is actually based on tremendous science, research, and strategy. Trainers spend countless hours studying opponents so they can prepare their boxers to overcome any scenario that might come up in the ring. It’s always easier to respond to adversity when you’re not at the receiving end of a left hook. Instead of scrambling to react while half dazed, you can just take a deep breath and execute plan B. This tactic helps boxers navigate tough bouts and works equally well for entrepreneurs battling bouts of adversity such as slowed sales, production disasters, or employee turmoil. After all, everyone has a great plan until they get punched in the face.

Lesson #2: “If it Doesn’t Make Dollars, it Doesn’t Make Sense.”

This quote is compliments of the notoriously flamboyant Floyd “Money” Mayweather. He’s one of the best “pound for pound” boxers in the sport and also one of the highest paid. His philosophy is simple, if there’s not enough money on the table for him to get in the ring-he walks. Entrepreneurs would be wise to adopt this mantra when writing their business plans, evaluating partnerships, and developing new products. If there’s not enough profit on the table to invest in a business, new product line, or partnership, it might be best to keep walking. While his philosophy may seem overly simplistic, I do think its sound. After all, business success depends on your ability to bring in cash. Whether you use that money to fund your own bank account as a for-profit venture or a local charity as a non-profit, you still need the cash. Cash is King.

Lesson #3: Sometimes it’s More Important to Win Fans Than to Win Rounds

Another valuable business lesson to learn is that clients and customers aren’t always logical. Just because your product is the best, fastest, cheapest out there, doesn’t mean they will love you. A great boxing example of this is “Winky” Wright. He is a talented veteran fighter with amazing technical boxing ability. He is also amazingly boring to watch. It doesn’t matter how many titles he wins, no body wants to see him fight. The exact opposite of him is Arturo “Thunder” Gatti. He is an incredibly charismatic, big hearted fighter that often hits the canvas in a bloody blaze of glory. Win or lose, it doesn’t matter. All that matters is fans are on their feet in awe of his courage. He’s the real-life “Rocky’ and boxing fans are transfixed and endeared to him. While he might not be the better boxer, he is the one who sells stadium seats and gets the big paydays. These exact principles play out in the business world daily. A company with an inferior product, but a great branding strategy can steal the market spotlight and amasses oodles of raving fans. Their customers and clients are so endeared to them that they are willing to overlook the higher cost, increased downtime, or technical glitches. Instead of turning on the company when there’s a failure, the customers reach out to help lift them back up. This is any company’s dream, loyal, raving fans that are ultimately your best sales team. Take a lesson from “Thunder” Gatti, don’t just count how many rounds you win, count how many fans you have joining you on the journey.

So there you go, business and boxing are related on more levels than just tax evasion and Don King. We can learn valuable lessons regarding business strategy, profitable decision making, and how to recruit raving fans. These are core principles that can help take your company to the next level. Next time you’re flipping through the channels and come across a fight, stop and watch a couple rounds. You just might gain some inspiration for your next great business idea.

Image via Wikipedia

I’d love to hear your comments below! Please be sure to follow me on www.twitter.com/glamajama and sign up for my newsletter at Moms Can Launch!

Quote to consider

No written word, no spoken plea Can teach our youth what they should be; Nor all the books on all the shelves It’s what the teachers are themselves. Given to John Wooden by his Father upon Graduation And now to You

He is, quite simply, the greatest basketball coach ever. The numbers speak for themselves: 10 NCAA championships in 12 years, including seven straight national championships, 38 straight tournament wins and 88 straight wins overall. You don’t build a record like that without being a great leader and without being able to mold and shape raw talent into cohesive teams that make winning a part of their very existence. A day after his 95th birthday, UCLA’s head basketball coach emeritus brought his leadership lessons to UCLA’s Alumni Weekend Conference, where he shared his thoughts on team spirit, teaching and — most important to him — poetry, during a conversation with author Steve Jamison and a group of business school graduates.

I don’t like to give advice. I’ll give opinions.

You’ve got to get across to each individual that what we are interested in is what is going to work for all. You have to think for the group and not just of yourself.

I once heard team spirit defined as a willingness to lose oneself in the group for the good of the group. I used that for a spell, but it wasn’t quite what I wanted somehow. Eventually, I decided that I would eliminate the word “willingness” and institute “eagerness” — an eagerness to lose one’s self in the group for the good of the group.

[A leader] is just part of the group. You have to be firm but not stubborn. Stubbornness we deprecate, firmness we condone. The former is my neighbor’s trait; the latter is my own.

We’re all different. The good Lord in his wisdom didn’t create us the same. Some players, for example, I had to pat on the back constantly, and there are others I had to pat a little lower and a little harder. You can’t treat everybody alike. You have to try to give everyone the treatment they earn and deserve under your supervision.

When you have to discipline, do it privately and not before others. Don’t embarrass them before their peers.

• Complete Interview
• Coach Wood web site (warning he has audio on his web site)
• His books

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Let’s face it. The first step is always the hardest. Whether you’re trying to quit smoking, start graduate school, or learn how to play guitar. It’s that first step that leaves us feeling awkward, inadequate, and questioning our conviction. Taking that first step toward entrepreneurship is no different. We question our business skills, product performance, and financial competency. The dreaded, “what if I can’t do it?” question creeps into our daily thoughts. We start reasoning that it might be better to “just wait another year.”

These fears are extremely common and unfortunately well founded. Reports show that as much as 50% of all new start-ups fail within the first year. That is not exactly encouraging odds. However, we all have a choice when it comes to creating our destiny. We can use statistics like these to confirm our business’s certain death, or gain confidence from the fact that you could be part of the 50% that become a success. In the famous words of Zig Ziglar, you just have to eliminate your “Stinkin’ Thinkin’”.

One of the tools I use to overcome my fears is mind mapping. It’s a terrific tool that can help you isolate the source of your fears, bring much needed perspective, and help brainstorm solutions to your sticking points. There are several “mind mapping” tools out there and many are free to use. I prefer to use the tool by Wisemapping since it’s free, allows me to add notes and web links, and I can publish or share the completed map.

To demonstrate my fear mind mapping strategy, I’ve created an example below.

First, I outline my top fears associated with starting the business. I then brainstorm how I can overcome those fears. My final step will be answering those questions. My goal is to find a positive solution to each of the questions I’ve asked. For example, for the question, “Can I reduce my startup costs with outsourcing?” I would research potential manufacturing possibilities until I could answer the question with a “yes.” If I can’t find a way, I then brainstorm ways to overcome the obstacle. A “no” isn’t necessarily bad, it just means you need to tweak your business plan to compensate for this reality. Try to be as thorough and honest as possible with your mind map. The goal is to solve your sticking points on paper before you’ve invested your time and money. I use this tool regularly for many of my business decisions including product launches, partnership agreements, and even potential marketing opportunities.

It’s amazing what this simple exercise can do for your confidence level. You are no longer living in fear of the unknown. Instead, you are on a mission with a powerful road map to your business’s success.