Starting a business out of your garage? Check out these insights!

You’ve heard about entrepreneurs who start their businesses in their garage and become true successes. What is their secret? Well, recently I found out about Pervaiz Lodhie. He started LEDtronics, Inc., www.ledtronics.com, in his garage with his wife, Almas, in 1983.

Today, he has a very successful business headquartered in Torrance, California providing LED (light-emitting diode) products worldwide and is known as the pioneer of LED lighting. I interviewed Pervaiz to get some of his inside secrets, and here’s what he had to say:

Tell us how you started your LED lighting business.

When I started testing and packaging LED’s almost 40 years ago I was a junior partner of Data Display Products started by my elder brother, Qamar Lodhie. At that time, there were really no LED solutions to replace the issues people were having with the old technology, incandescent or filament light-bulbs such as very short life, using too much energy, high heat, higher failures in shock and vibration conditions, etc.

To solve these problems, I started creating and packaging LED lights to replace the old, outdated miniature incandescent bulbs as simply as possible. The LED lights were used in control panels, elevators, lighted push-button switches on aircraft and ships, and on control indicators in power plants.

As the LED technology improved, I continued to improve the packages to become more widely used, and I also created additional applications for the LEDs where higher intensities, more pure colors and wider viewing angles were needed.

It sounds like you created LEDtronics by using your expertise to solve important lighting problems your customers were having. With this in mind, what was the biggest challenge you faced starting your business, and what did public relations have to do with overcoming it?

With an engineering background, I did not have the experience to market and find customers. Fortunately, one of the editors of Electronic Products approached me when I was first starting my business and wrote an article about the benefits of my LED products. That was probably the beginning of the revolution. When the article came out, engineers that were looking for that kind of a product suddenly sent requests, and we were immediately getting calls for the products.

Another key reason for my entrepreneurial success was that I looked at the issues and problems of others trying to start businesses. I didn’t want to fall into the trap of investing too much and paying interest for many years and then never being able to recover from it. I was going to start my business in a completely different way with my own money.

Right from the start, I wanted to become the GE of the LED light bulb industry. As I was creating a brand new niche with limited resources, I felt JIT, or the Just-in-Time model, was ideal for me. I developed, manufactured and shipped LED solutions Just-in-Time but at standard cost so there was no premium cost.

This allowed me to have very little inventory requirement, and we still follow this process today at LEDtronics. We carry all the necessary components and then put it together as the customer needs it because there are some common components that you can use. That just-in-time situation allowed me to start and grow my business without borrowing money.

What suggestions do you have for small business owners on how they can compete against large corporations in today’s market?

The concept or idea of the product they want to build must be equal or better than what the competition has. It must have equal or better pricing. It has to have features that the customers of the larger manufacturer identify as needed. It is crucial to have some advantage over the competition because they already have established customers with an existing business relationship, and customers do not easily move away from an already established and comfortable business relationship.

I think that many, new business people make these fundamental mistakes. They develop something today, and they don’t realize that it’s a work-in-progress. They must continue to improve that product and to design it in a way that cuts costs. This way, they can keep the price attractive and keep improving its functionalities in a way that the customer is looking for.

In the first couple of years of starting a business, it’s essential to keep reinvesting every single penny of profit back into the business to allow it to grow. However, just as their business is ready to take off, many new business owners get tired and burn out, and they run out of cash so they give up. Then, all their work is benefited by others.

That’s good advice Pervaiz. Is there anything else you’d like to share with the StartupNation audience?

I think new entrepreneurs should start a company with something they are very, very good at and have full knowledge about. Instead of being a Jack-Of-All-Trades, I took on the challenges that I felt were very easy because of my background and experience as an electromechanical engineer.

I believe the American dreams are still coming about. You just have to do all your ABC’s correctly and anticipate how long it will take your business to take off from the beginning. Have a vision and a picture of what and where you want to be in one year, two years, three years, fours years, etc. Then work towards them and stay focused.

Thanks so much for your great insights Pervaiz, and congratulations on your success!

Do you have a small-business success story you’d like to share with us? Please contact us here.

Cybercrime is increasing dramatically. In fact, ”The 2012 Security Threat Report” by data security company SOPHOS, indicates that we “need to be ready for attacks on new platforms and devices—all the places we use data for work and our personal lives,” and that “cybercriminals are becoming more professionalized through the availability of commercial crimeware kits… the result is mass generation of new malicious code and exploits, and a significant increase in the volume of malware.”

Securing company data is now a top priority. But if you are relying solely on your tech team to protect your data, you are not as secure as you think you are. Instead, everyone in your organization needs to get involved in keeping information safe and private.

Where do you begin?

Start With E-Mail.

One of the most vulnerable areas in your organization is e-mail. People often communicate private information within e-mails, but this data is usually not secured. To overcome this issue, implement systems on or off-site that help you contain communications-channels to your organization. These include:

• Employing technologies that scan and monitor e-mail communications for potential, intellectual-property breaches;
  
• Maintaining outside file repositories with logging capabilities for file exchanges; and
• Using encryption, firewalls, spam filtering, and other systems for protection against viruses, spam and phishing attempts.

This way, you have control over internal communications online and a way to keep offending visitors out. However, none of this will work if you don’t talk to your entire organization about the importance of securing data.

Educate Employees.

While your tech team may be monitoring the security of your organization regularly, other employees are not. Many of them do not know the security risks involved with e-mail attachments, visiting certain Websites, communicating private information online, and more.

Because of this, your tech leaders need to communicate with all employees every month. It’s their job to educate staff members on technology “do’s and don’ts” within the organization and what can happen if they break the rules.

This educational process may involve weekly meetings, monthly newsletters, training sessions, e-mail notices, or even fun events to build relationships between departments. And since technology is constantly changing, you need to look at these organization-wide communications as ongoing.

All employees need to know how to avoid security issues, what to do if they see a potential, security threat and what is going on with security in the organization as a whole.

Security is a Team Effort.

While your tech team may be on the cutting-edge of security, this is just the beginning. Everyone in your organization needs to know the security policies, be aware of threats and act accordingly. By communicating regularly and working together, you can avoid unwanted infiltrations into your system, information leaks and major, security issues.

What are you going to do today to let your employees know about tech security at your company? Please comment below, or write to me at The Rich Dad Company, customerservice@richdad.com.

Not hide from my family (although the idea occurs periodically), but hide behind my computer. More and more, I look around and see social media chatting replacing real time networking. Please don’t mistake me, I love social media, use it all the time, and have reaped the rewards of connecting online. However, not without getting out there and networking IRL (In Real Life).

Whether it be on a local level or a regional or national conference, it is essential to connect face-to-face with other small business people in your vertical or who complement your business. Not only is this essential for your business, but also for your mindset. As I wrote earlier, being a small business person who either works from home or a small office is isolating, and talking to others allows you to see you are not alone.

The first step in networking is to start out slow. Try a local networking mixer first. Most local communities have a community calendar. Seek out a young professionals meet-up, a direct sales referral group, or even a seminar. Take a peek at what is going on out there behind the world-wide web and you will be pleasantly surprised how refreshing talking in person is!

**Tip: Take a wingman. Most of us have at least one friend or colleague who lives near us who does something similar. Cajole them to go along and be your back-up.  Often walking into event with someone else is all we need to move forward.

Local networking hours often lead to meeting like-minded entrepreneurs also looking to share ideas and brainstorm solutions. Don’t just collect cards, but follow-up with the people that you met and clicked with….That means setting up a second meeting, forming a mastermind group or scheduled meet-ups.

**Tip: I try to schedule my meetings for one right after another during a specific time frame, so I don’t lose travel time going to and from random meetings here and there. Pick a day or two per week that you schedule appointments.

Hitting up a conference or two is a big MUST. I know this brings a financial component, but it is a necessary expense to expand knowledge and meet others in your space. The internet and the overall accessibility that it brings allow us to network nationally, but meeting a few of these connections in real time really helps the process. Take the plunge and go - make the most of the experience.

**Tip: Keep costs to a minimum by driving to a conference with some of the connections you make locally or attend a conference in a city where you can stay with friends or family.

What do you think?  Do you like to get out there and meet other startup business people?

What are your tips?

For more on meeting people in person and networking IRL - visit me here.

Rachel

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!

As summer fades away, I’m sure you’d love to hold onto some of your personal time and avoid working long hours. But if you’re an entrepreneur, how do you please all of your customers without giving up some free time with family and friends?

Here are a few suggestions to reclaim your personal time:

1. Hire a Virtual Assistant.

Do you have data entry, accounting, writing, or other administrative activities that need to be done? Get these tasks out of your way by hiring a virtual assistant.

These professional workers are available throughout the United States with different skill sets at various price-points.

And because you are hiring a service rather than an actual employee, you don’t need to worry about all of the legal and tax headaches involved in the hiring process.

Check out the International Virtual Assistants Organization at http://www.ivaa.org/ and other, related sites to find someone to fit your specific needs.

2. Find an Intern.

Many high school and college students are looking for work to add to their portfolios. Offer to provide opportunities to help them succeed.

You’ll get some inexpensive help, and your interns will get valuable, on-the-job experience to use in their future careers. Just be aware that you’ll need to take some extra time to train these newbies carefully.

3. Get help from your kids.

If you haven’t already done so, have your kids help you with your business. Not only will they learn important skills and the importance of working for an end-result, but you may be able to use this as a tax deduction too.

Check with your accountant to see how you can make this work for you.

Enjoy yourself!

Instead of saying goodbye to summer fun and thinking you just can’t get away from work, be positive and creative. Look for people to help you finish tasks outside of your core area of expertise.

It may take a little effort to find the right helpers, but once these workers are in place, you’ll have more time for yourself and be able to get the relaxation you need to truly be successful!

Need more help with your SEO copywriting and PR to increase sales? Please write to me below or at www.rembrandtwrites.com.

If you’re like me, you’ve probably said this statement many times: “If I had only known then what I know now.” I understand that mistakes are part of the process, but do I have to make so many of them!?! Experience has made me a fast learner and now, more than ever, I pay attention to those who have gone ahead of me so I can learn from their mistakes and hopefully not make so many on my own. Maybe you do too.

To gain some more insight, I asked business owners who have been in business five years or more the same question, “If you would have known then what you know now, what would you have done differently and why?” Their answers were not only insightful, but inspiring and I think you will really appreciate what they had to say.

So here you go; 29 (plus one) insights from business owners like us on what they would have done differently had they known.

We would love to hear your answers too, please leave a comment and let us know, “What would you have done differently in your business if you would have known then what you know now.”

Enjoy!

1. Hire Slowly, Fire Quickly

Oh man, I wish I would have remembered this one every day when I woke up. There is little of greater importance than having the right people on your team(s) and when you find out an apple has gone bad or you have found a worm in a seemingly perfect apple, get rid of it ASAP! The old adage is often true, ’some dogs can’t hunt’.

Thanks to Ben Sayers, VoIP Supply, LLC.,VoIP phone systems, in business 8 years

2. Be More Open to ChangeTechnology and trends are constantly evolving: one day you are set in your Facebook ways and the next day Pinterest is the new phenomenon. Social media has changed the way we do business and how startups utilize it is integral to your success. However, if someone told me this during social media’s infancy, I would have called them crazy. I let all my years in business bias my first impression of social media and thought it was simply a fad. I couldn’t have been more wrong! Social media has changed the way we do business and has set the bar for the way we measure success. If companies are not willing to adapt, they will never become an industry leader or experience great successes.

Thanks to Jim Joyal,, SHIFT Communications, PR and social media agency, in business 9 years

3. Be the Boss Not the Buddy

Don’t be friends with employees. When you try to be too nice it makes it easy for others to take advantage of you, and that’s been true of about 80 percent of everyone I hired in the past. There was a time when I would give a job to almost anyone who asked, regardless if they were qualified or not, because back then I had the capital and I did not want to be the person who turned them down. Most of the money I lost when I started out was due to being overly tolerant of inefficient employees. It’s fine to be friendly with your staff, but you have to set boundaries and be willing to be a firm boss — whether you have three or 300 people working for you.

Thanks to Cathy Ward, BridesVillage.com, wedding accessories e-commerce retailer, 11 years in business

4. Lock in Your Location

Had I known then what I know now, I would have done everything possible to purchase my own business property. Last year, the rent for my original office, located in the Prospect Heights section of Brooklyn doubled, necessitating my having to move during my income tax preparation season.  If I had to rent a property, the lease would have included a “lease to own” clause and have a termination date during my slow season.

Thanks to Eustace L. Greaves Jr., Greaves Financial Services, Insurance and Income Tax Preparation Services, 17 years in business

5.  Start with Sustainably in Mind

In hind sight I would have focused much more deeply on a sustainable way to generate deal flow and new leads. No matter how large you think your network is (mine is large) it is not large enough and although power networking/word of mouth is the best source of leads of all the advisor/coach /consultant/soloprenuers I know almost none are reaching their personal income goals. What I am doing differently is focusing on the internet. I have just launched an e-commerce site and hope to launch a content site in the next 90 days. Historically my advisory services were delivered on site at companies located regional. I will continue with my advisory work with about 1/3 of my time, but focus on national and to a lesser extent international clientele via phone or Skype.

Thanks to Ajax Greene, On Belay Business Advisors Inc., business advising, 7 years in business

6. Know the Value of Vision

I would have placed an earlier emphasis to define the vision, mission and values of our company. It is important for the value of our employees to be aligned with my vision for our Company.

Thanks to Jason Maxwell, MassPay Payroll Services, payroll services company, in business for 8 years

7. Eliminate Distractions

Having owned several companies, I would have eliminated my distractions sooner than I did, e.g. real estate investments (rentals), buying and selling a laundromat, renovating homes, etc. While all the ventures were profitable they took away from focusing on building a brand that ultimately would have had more value than the combined profits of each transaction not related to directly building that brand.

Thanks to Joseph Carvelli, Retail Ingenuity, retail inventory and sales forecasting, in business for 12 years

8. Set Aside Significant Saving

I assumed if I built a good product, they would come! I had no idea how costly being in business would be, the amount of money I needed to succeed, or the toll the financial strain would take.

I am blessed that I had the tenacity and the strength to succeed despite overwhelming odds. If I could go back to the beginning, I would make sure I had significant savings set aside, or capital from another source. I cannot overstate the importance of being properly funded!

Thanks to Regina McRae, Grandma’s Secrets, dessert delivery, in business for 18 years

9. Put More Emphasis on Processes

If I had known then what I did now I would have put a lot more time into creating processes.  I find that with the majority of businesses these fundamentals often get overlooked and sometimes ignored completely. To me this is utter madness! A company can succeed or fail just by their processes. We find that we avoid 99% of mistakes because we process them out. This not only avoids unnecessary errors and client issues, but actually makes the company as a whole more efficient.

Thanks to Ben Norman, Koozai Ltd., UK based digital marketing agency , in business for 6 years

10. Delegate, Delegate, Delegate

I would have delegated more and not tried to do everything myself. Although it does take time to build relationships with your staff, I waited too long to delegate certain responsibilities that could have been done by someone else. Giving responsibilities does much to validate a staff member’s gifts and also demonstrates a deeper level of trust in the employer / employee relationship. Letting go of certain tasks has been difficult for me but I have come to realize that the more responsibilities I entrust to others in their areas of expertise, the lighter I feel, the more confident a staff member becomes and greater things are achieved by their efforts than could have been done otherwise.

Thanks to Stephanie Ciccarelli, Voices.com, online voiceover talent marketplace, in business for 8 years

11. Let Go and Let it Grow

For many years I had to know everything and do everything. I have discovered that other people and organizations can do things better and at a lower cost than doing it myself.  Letting go has enabled my business to grow and prosper and made my life much easier.

Thanks to Bob Shirilla, Keepsakes Etc. and Simply Bags in business for 30 years

12. Avoid Delaying Difficult Decisions

My biggest lesson over the years was learning that sometimes decisions had to be made for the good of the company, which sometimes meant disciplining or dismissing employees. In particular, when the economy started going into recession, I had to fire one of my closest friends in order to keep the company going. I should have done it sooner. As a result of my delay, it took a while to regain the company’s financial stability. Making difficult decisions is part of owning a business. Owners have to be willing to do it.

Thanks to Susan Southerland, Just Marry, Just Right DM and The Susan Southerland Secret, event planning, destination management, and small business consulting, in business for 20 years

13. Start with a Solid Team

I would have started with a solid business plan, hired an account, and started with a solid team around me.  There are not many businesses that are successful with one person wearing so many hats. Do what you do best and allow others to contribute what they do best to help your business grow.

Thanks to Amore Leighton Black, Apples & Oranges Public Relations, public relations and marketing, in business 7 years

14. Charge What I am Worth

I would have charged more! I was so excited to be working for myself doing something I loved. I’ve never been a person who chased profits -that’s not why I do what I do. But I didn’t do my homework and when I started, I charged pretty close to what I was making hourly at the jobs I’d left behind. That was all fine dandy except when working for myself, that wasn’t enough to cover things like taxes, health insurance, and so on. And also, I was definitely undervaluing my services. I was booked ALL the time, yet I could never seem to get ahead. Even though my clients all loved me and thanked me for my work, I doubted my value, and that was definitely reflected in my pricing.

Thanks to Alaia Williams, One Organized Business, professional organizing and small business systems consulting, in business 5 years

15. Focus on Building Relationships

We spent a fortune of money on advertising when we started out (with unimpressive results). We then changed our focus on relationship building with existing clients and organic search maximization vs. paid ads.  Now we see incredible returns in the form of referrals, and new business at a cost that is a fraction of what we used to spend. We needed to learn the hard way but if I knew then…

Thanks to Ben Schusterman, ElJet Aviation Services - private jet charter service, in business for 5 years

16. Start with More Money, Less Friends

I would start with about three-times as much cash as I thought I needed. I’d also be cautious around hiring friends/family.

Thanks to Heidi Ganahl, Camp Bow Wow, doggy day & overnight care, in business for 12 years

17. Use a Better Business Model

If we knew then what we know now, we would have started with the business model that we changed to about two years ago. Before the recession hit, we charged $39.95 for an annual membership with no free trial, and no automatic rebilling at the end of their membership term. During the recession, the rate in which we generated new members waned and we reached a growth plateau. To combat our stagnation we decided to change our revenue model to a free trial and a monthly rebilling combination. We implemented a three-day free trial and then a recurring $18.95 monthly fee after the three days expired. We are doing very well as a company now, but in retrospect, we should have thought about rebilling from the get go.

Thanks to Ian Aronovich, GovernmentAuctions.org, providing information about government auctions of seized and surplus merchandise

18. Hire Employees Sooner

One thing I would do differently if I were starting my training business today would be to make my first hire sooner. Operating on shoestring (and a broken one at that), I originally had to do everything myself. The thrift that made it possible for me to survive and then thrive in the beginning quickly became a hindrance when I delayed hiring people who could do any number of specific tasks easier, cheaper and far better than I could.

Thanks to Barry Maher, Barry Maher & Associates, motivational speaker, leadership trainer

19. Dream Bigger

I would have dreamed bigger from the start. In the beginning, my focus was on serving clients in my own Puget Sound backyard, even though successful people who were familiar with my publicity expertise and storytelling gifts were telling me to think nationally or globally. If I had it to do over again, I would have put more emphasis on national and global reach of my message right from the start.  Lead with juicier, higher value, and leveraged offerings first. When I was just starting out, I put a lot of emphasis on creating the absolute best $10 product about do-it-yourself publicity that I could create. Yes, the Media-Savvy-to-Go Publicity Tips Booklets have sold by the thousands since debuting in August of 2006. However, it is so much easier to make a bigger impact for more people and my own balance sheet by leading with a juicer, higher value offering. Today, the Broadcast Your Brilliance Webinar Series and Bye-Bye Boring Bio PLUS! Programs deliver great value for many around the nation and the world at price points that make it a whole lot easier to make a good living. Whether you create an entry level product or something much more, you still have to create all the systems to support those offerings. By leading with a deeper offering, the rewards are greater for all.

Thanks to Nancy Juetten, Authentic Visibility, PR tools and training, in business 11 years

20. Approach Additional Services More Cautiously

I’ve been in business as a web designer for 18 years. The main thing I would have done differently knowing then what I’ve learned along the way is I would approach any add-on services very cautiously. I used to briefly check out add-on services such as hosting, domain name management, and others, and then I would jump in whole-heartedly. Most of the time, it worked out fine for me. However, the occasional missteps cost me dearly.  As I learned more about running a business, I also learned through hard knocks that it is much better to approach additional services methodically and cautiously. I don’t put a lot of funding and energy into them until I’m sure it is the right thing to offer. I’ve learned it is easier to resist the urge to jump at opportunities than it is to extract myself from the occasional quagmire!

Thanks to Jim Smith, Blarneystone, LLC web design, in business for 18 years

21. Give More Away Sooner and Speak More

Network a lot more in person (the Internet was in its commercial infancy) and hunt for in-person speaking engagements, even if they are not paid.  Good writing alone is not enough to convince clients to hire you. They want to hear you speak on your topic of expertise, and when you help business owners with their problems or concerns, they are more likely to hire you and/or to recommend you to others who hire you. I once helped a business owner write something for his church at no charge, and with another small assignment that paid very little. That led to a long-term writing assignment that exceeded $40,000 in fees. Sow seeds of good will and interest through your networking, speaking, and help. Continue to do this even after your business is successful because it leads to more success.

Thanks to Candace Talmadge, Talmadge Writing Services, writing services, in business for 29 years

22. Been More Focused on This Business

I wouldn’t have started it out of my apt.  I would have “cleared the decks better” by parsing other interests that I was juggling at the same time. I would have learned more about guarding a business (legal, insurance, LLC/Scorp/Inc).  I would not have spent so much money on a business plan.

Thanks to Todd Greene, HeadBlade men’s grooming, in business 12 years

23. Don’t Do It All Yourself

I would have gotten an assistant, accountant and web coder much earlier. I did it all myself for 8 years in my business and have only been hiring assistance for the last two years. I knew it would free up my time to hire people - and what I didn’t know was how much it would free up my mind and let me do better, more powerful work along the way. I’ve been able to create more products and do more thought leadership since getting those little tasks off my plate… and if I’d done it earlier, I can only imagine how amazing things would be.

Thanks to Erin Ferree, BrandStyle Design, branding for small businesses, in business for 10 years

24. Look Before Leaping

What I know now is the huge cost of marketing and promotion required to build demand. We started out expecting to sell retailers and distributors and attend trade shows and travel to customers and sell and spent two years on that path. Then we took a hard right and for past two years we have evolved into an Internet retailer running DRTV (Direct Response TV) infomercials with 85% of our business now direct to the consumer. Social media was never in the business plan either now it’s vital.

What would I do differently knowing what I know now? (1) Keep my old job as long as possible and not leapt off the cliff (but it was a nice feeling) (2) Anticipate 5 years to break-even, and set aside “don’t touch” money.

Do I regret jumping off the cliff? No way. As I tell my wife- don’t look down, keep looking up!

Thanks to Brad Barrett, GrillGrate, LLC, grill surface for better food, in business 5 years

25. Pick More Profitable Partnerships

I would have used deeper discernment in picking partners/vendors/joint ventures, even markets. I picked some doozey’s AND after the fact, saw all the red flags.

Thanks to Shawne Duperon, ShawneTV, media coach and production company, in business 11 years

26. Focus on Face to Face Interactions and New Technology

We learned a lot of lessons in starting our company. For example, we would never produce four-color mailers that are sent to mass prospective clients. We’ve learned that face-to-face interaction and building the business relationship is key. (This was pre-Internet). We also learned that a lot of mailing lists are not updated. This endeavor was expensive and resulted in a poor ROI. When the Internet came around, we certainly would have jumped on this new technology much earlier — developing a website much sooner. It’s an amazing tool to get your message out to the world to sell products and services with visuals. We try to make it much easier for clients to find us rather than we search for a ‘needle in a haystack’ to find prospective clients.

Thanks to Greg Jenkins, Bravo Productions, event planning and production company, in business 25 years

27. Plan For Growth, Be More Discerning in Following Advice

As the owner of a driving school in New York City, my first big regret is that I did not get all other licenses (Motorcycle, Bus, Truck license) earlier in life. I just pass my truck road test Tuesday January 17 2012.  Now I have to wait two more years before I can expand to teach Truck Lessons thanks to NYS requirement. Secondly, I was too naive and trusted many so called experts that convince me how to run my business only to find out they were wrong.  I wasted a lot of money trying ideas that did not work. 3.  In the real estate boom time I should have purchase commercial real estate to accommodate my growing business.  Now it’s impossible to get a loan.  I would have preferred to spend a bit more money to secure a property.

Thanks to Rajendra Hariprashad, Ena’s Driving School, in business for 8 years

28. Leverage People, Build a System

If I knew then what I know now I would have invested in two areas. One, I would have developed other people and brought them into the business sooner. No one is good at everything. Even Michael Jordon had a coach and team mates. One of my friends started a business five years ago and has 700 people working for him today. The more you can leverage other people and create a ladder for them to achieve what they want to then the more successful you will be. Find people you can trust and learn to work effectively with them. My business is much stronger today because I have a strong team.

Secondly, every business needs a system to build a pipeline that is consistent and measurable. I have depended too much in my business on my farming method which is delivering exceptional value to people I meet and eventually they and their friends become clients. I wish I would have understood how to build visibility for my business in my target market like I do today. I am beginning to develop a hybrid model that is both farming and hunting which I believe in the long run will deliver greater growth to my business. My approach that involves taking a prospect from visibility, credibility, and trust is proving to be highly effective. When people work with me they become more than clients they become friends because I am invested in their success. Everyday owning a business is a learning experience. I am very happy it is what I have chosen to pursue in my life.

Thanks to John Paul Engle, Knowledge Capital Consulting in business 10 years

29. Focus on Building Relationships with Customers

When I first started out, like most new veterinarians, my prime concern was my patients and their care. What I failed to fully appreciate was that each patient had an owner (aka client) attached to it! Often I would not address the needs and concerns of the client as well as I was trying to practice medicine and over time, I likely lost clients who, if I had better built my relationship with them, would still be a client today.

Thanks to Dr. James Day, Glendale Animal Hospital, veterinary practice in Glendale, Arizona, in business for 27 years

Bonus Tip:

30. Establish Boundaries With Employees

I would certainly separate “church and state” and I would have been more of a leader than a friend. As an owner and an active President& CEO of a small business- I’m in constant contact with my employees. When hiring new employees, certain requirements and credentials are necessary including: experience, expertise, and industry knowledge. Additionally, I look for multiple interpersonal skills and qualifications. That said, I’ve managed to find and retain wonderful employees who work well and who work well with one another. Formulating good friendships with my employees is nice but maintaining and stepping up as more of a leader at times, has been challenging. Establishing boundaries early on with employees is key and I wish I had known the importance of this, earlier on.

Thanks to Georgette Pascale, Pascale Communications, LLC. a healthcare specific PR firm, in business 7 years

Want to get more inexpensive and practical small business marketing ideas, grab a free e-book called “Build Buzz for Your Biz, 23 Creative and Inexpensive Marketing Strategies That Will Get You Noticed” at http://23kazoos.com.

Wendy Kenney is the bestselling author of How to Build Buzz for Your Business available on Amazon.com, and has been featured in the Wall Street Journal, USA Today, and Newsday.

As I wrap up Week #1 of this fabulous brand new year, I thought I would check in with all of you….

Have you set your Main Goal(s) for 2012?

More important, How do you plan to hold yourself accountable to your Goal(s)?

That is the kicker with goals.  You can make as many goals as you want, but Accountability is what makes goals actually count.  A Goal is only as good as the plan for holding yourself accountable to it.

I have found a number of ways to infuse accountability into your plans and goals:

Incorporate a Mastermind Group. A Mastermind Group is a small group of other professionals that meets together (in person or virtually) and helps promote one another’s success.  If you are not in one, think about forming one!  Look at it as a circle of Business Best Friends.

Hang a Written Mantra or Vision Board. A mantra is your very own words or goals that you want to keep repeating to yourself.  If you are more visual, create a picture, drawing, or roadmap to hold you to your goals.  Tape this vision high above your workspace to keep you motivated.

Set Alarms in your calendar. Program your computer or phone to ding on particular days, times, etc when you WANT to remind yourself of checking your progress on goals.  This is useful when you get stuck daydreaming about the possibilities because it makes you get back to reality.

Engage a Business or Life Coach. If you find yourself really struggling with holding yourself accountable, hire someone to help you.  This will cost you some money, but if you match up with the right coach, he/she will certainly help you monitor progress.

……Still looking for some accountability inspiration?

Check out what some other amazing Entrepreneurs are doing in 2012!

Nicole Fende is a credentialed actuary with experience as a Chief Financial Officer, Investment Banker, and successful entrepreneur. Nicole (a.k.a. The Numbers Whisperer™) helps her clients learn how to effectively and enjoyably run the financial side of their business.

Main goal: Killer launch and sales of my first book, How to be a Finance Rock Star.

Plan for Accountability: As an entrepreneur, my bank account balance keeps me accountable.

David Shirey has been training, inspiring, and leading sales teams and workforces to incredible new heights for two decades, and now is the author of the new book, Rare Confidence.

Main goal: Spread the message to as many people as possible that the secret to attacking your dreams is CONFIDENCE!

Plan for Accountability: Doing the right thing is not a some of the time thing; it’s an all the time thing!

Heather Allard is a mother of three kids and the founder of The Mogul Mom, a free daily email for moms who run a business, raise a family and rock both.

Main goal: To grow The Mogul Mom’s free daily email for mom entrepreneurs to 25,000 subscribers.

Plan for Accountability: Through a small group of peers who know my goals and hold me to ‘em. I hold myself accountable by sharing my goals and actions taken with a couple of mentors who’ve accomplished what I’m trying to accomplish.

Haralee Weintraub is CEO of Haralee Sleepwear, ‘Cool Garments for Hot Women.’

Main Goal: Have 2 National exposures on our company.

Accountability: Target the avenues where I think this goal can be achieved, and work on it every week.

Now, let’s hear your Goal and Plan for Accountability!

Looking forward to sharing your Goals and Accountability in 2012, Rachel

http://backngroovemom.com

Tell us how you got involved with Brother Bru Bru’s African Hot Pepper Sauce.

I had worked for years in the natural products industry, when my friend Bruce Langhorne asked me to help him formulate a hot sauce that was salt-free, sugar-free and gluten-free. He had just gotten diagnosed with high blood pressure and wanted something to liven up his meals without all the salt that traditional hot sauces had in them. 

We got a bunch of peppers and some exotic spices from Africa, and blended them together in his kitchen, with blenders whirring and pepper powder permeating the air. (In hind sight, goggles would have been a good idea!)  Eventually we came up with something we loved - Brother Bru Bru’s African Hot Pepper Sauce.

Bruce was primarily a musician so for him, making the hot sauce was a dietary excursion and a hobby. But his friends loved the “Bru” and begged for some of their own, so he started producing enough for everyone. I helped him launch the business in 1992, and then stepped back into other pursuits. Fourteen years later, when Bruce got sick, I came back to run the company.

What has been the most successful activity you’ve done to increase word-of-mouth?

The most successful part of our word-of-mouth campaign has been for people to meet Bruce. He’s a huge spirit with an incredible heart, and practically everyone who has ever met him or spoken with him on the phone remembers him. 

“If he were to walk in right now and you didn’t see Bruce, you would feel his presence,” shared Peter Fonda (for whom Bruce composed the soundtrack for The Hired Hand). “Bruce just emanates love and kindness, in addition to being a virtuoso on like 50 string instruments.”  That is Bruce’s legacy and one we try and continue, to treat each one of our customers with great care and kindness.

What do you plan to do to get your unique message across and stay ahead of the competition?

The hot sauce market is incredibly competitive. But somehow, we have remained near the top of the pack, and that is with no absolutely marketing. I think it is because people recognize quality, and we really deliver it.

We use the very best ingredients and the most expensive peppers in our sauces. You can get hot sauces that are a lot cheaper, but Bru Bru’s has flavor without overwhelming you with the heat. As one of our “fans” said, “It appears to be made out of concentrated awesome.”  After almost 20 years, and a loyal following, we are just now expanding our line to include two new flavors (Organic African Chipotle Pepper Sauce and Organic African Chili Pepper Sauce).  Both have been produced in accordance with the USDA’s National Organic Program and Certified Organic by Quality Assurance International. It was a difficult and time-consuming process, but we are happy with the results - two really great new additions to our line.

What advice do you have for other entrepreneurs who are trying to get their products on store shelves?

My advice is to produce to the highest standards, and to produce products which support the health of individuals and the planet. That is the definition of “right livelihood,” to do something at which you can be successful, which also benefits individuals and society.

If you had to start the business over, what one thing would you avoid doing?I would get help at the beginning to set up computer systems that would work as the business grows. For example, I have different files on my laptop and my desktop, and it would benefit me to have an integrated system of file management.

What insights and tips would you like to share with new entrepreneurs pursuing their business dreams?

Ask for advice and mentoring. Find a Small Business Development Center (SBDC) near your home, and get involved with them

Find mentors in your own industry or one that is similar, and go to trade shows. Keep business cards, and follow up with people. Develop relationships. Be open to magic. 

For me, that means going to a trade show, looking in people’s eyes and seeing who is drawn to meet me.  Or it shows up on airplanes, as I talk to the person next to me and find the most amazing ways our paths connect.

On a recent flight from Los Angeles to Boston, I sat next to a man who had been in California for a wedding.  The father of the bride, it turned out, had a chocolate-making company and imported fair-trade cocoa from Africa. He had a supplier in Africa who knew about the African spices I needed for my “Bru.”.   Well, you get the drift. Open up and see what connections are there behind the “strangers” who show up in your life.  And while you’re at it, enjoy the journey.

Thanks for your great insights Cynthia! For more information about Brother Bru Bru’s, visit http://www.brobrubru.com/.

And if you have questions about promoting your small business, please write to me here or at www.rembrandtwrites.com.

It’s been a while! How’ve you been? Still in business? Growing? Circling the wagons? Custer’s last stand? Hey, you got into this entrepreneur thing because you don’t fear uncertainty - don’t forget that! This is fun! You could be like all your friends, who are right now being lectured by Bill Lumbergh about their TPS reports (shudders).

I’ve been thinking a lot about the future lately - my future, your future, Earth’s future, and the future of technology.  What are things going to be like in 20 years? 50 years? 100 years? I’ve been doing some research and reading on the subject of future tech, and I am rapidly coming to the conclusion that the future is going to look like magic to us 2011 dummies.

See, in terms of technology, the future is exponential in nature, not linear.  Perhaps you have heard of Moore’s Law? Gordon Moore was a founder of IBM, and in the 1960’s he observed that the number of components in integrated circuits had doubled every year from the invention of the integrated circuit in 1958 until 1965 and predicted that the trend would continue “for at least ten years”.  Well, guess what? The trend continues to this day - it is a perfect exponential line that has not changed since 1965, and looks like this:

Moores Law

What does this mean for us?  Well, futurist Ray Kurzweil, author of “The Singularity Is Near: When Humans Transcend Biology” and subject of the movie “Transcendent Man” (you can and should stream it on Netflix)  says that this line of exponential growth in the power of CPU’s will at some point become so dramatic that we stupid humans can no longer keep up with it.   He calls this phenomenon “The Singularity” - the point at which machines become smarter than us.  In fact, he thinks The Singularity is fast approaching - it is less than 20 years away.

I recently attended a Fandango event called “Transcendent Man”, which was a 2 hour Q/A with a pretty incredible panel of tech leaders and futurists such as Ray Kurzweil, Dean Kamen (inventor of the Segway and robotics guru), Apple co-founder Steve Wozniak, Deepak Chopra, and several other amazing minds. They discussed The Singularity and its’ implications for humanity.  I left the theater needing a whole bottle of Advil and a shot of tequila. I had learned a lot - too much - in 2 hours.  Lets talk about the relevant points:

1.  HERE’S WHY I’M WRITING THIS FOR STARTUPNATION.COM!:  A lot of these inventors, entrepreneurs, and technologists are designing and developing technology that is still theoretical - in other words, the technology does not yet exist yet to build what they are designing!  Ray Kurzweil, for example, has become a multimillionaire in the last 30 years by designing products in exactly in this manner.  He invented the modern synthesizer in this way, as well as reading devices for the blind (Stevie Wonder has said that Ray has changed his life completely)

So, entrepreneurs, is your business model designed for 2011 or 2015? 2020? Are you coding for todays internet or 2014’s?  I suspect that the most wealth to be had in business ventures from here on out are going to be ventures that can most accurately predict the future and be right on top of it when it happens.

2.  Emerging technologies are amazing - and freaky - particularly in the area of nanotechnology.  Right now, scientists are programming atoms to compute as today’s circuits do.   Imagine a computer 100 times as powerful as the fastest computer in existence today that would fit inside of a red blood cell. Don’t worry - if that doesn’t work out, we’ll be building computers that small anyway. In fact, the majority of the Transcendent Man panel agree that in my lifetime (I’m 41), man will become a hybrid of man and machine.  We will all have millions of nanobots floating around our bodies, programmed to help us a) think better by assisting brain function b) keep our arteries clear of plaque, c) manufacture red or white blood cells, d) destroy cancer cells, and so on.  Let’s face it, people:  Technology is stronger than Biology.

3.  Keep an eye on 3D printing.  Right now, 3D printers can “print” out physical objects.  Dean Kamen is working on a technology that, when complete, could wipe out 50% of the worlds’ disease problems associated with polluted/bad drinking water.  Imagine shipping a 3D printer to the Sudan and telling it to print out another 3D printer, and then telling both to print out 3D printers. Then, tell the 6 printers to print out a water filtration system for a village.  This is the future of manufacturing, and its’ coming soon.

Here’s a 3D printer in action:

3D Wrench

4.  Robotics will get to the point of creating better, faster, and stronger body parts than our own.  As Dean Kamen stated (I’m paraphrasing) “Right now, we build artificial limbs for people who don’t have them. What happens when we can replace an existing part with a superior mechanical one? How many people would elect for that? I think it will be MANY”.

I think about his point often because I am a victim of severe arthritis in both of my knees and earlier this year a surgeon in Napa Valley told a robot to partially replace both of my knees.  The robot could perform the surgery better than the surgeon could and the surgery was done in less than 20 minutes.  So, now that I’m partially robotic, would I do it again?  You bet your sweet mechanical ass I would - in fact, I plan to have a robot in 2020 redo the surgery and possibly replace both my knees totally, because by then artificial knees will be stronger, faster, and better than even healthy knees.  By the way, I’ll also be able to swallow a pill which will reprogram my DNA to stop storing fat on my body and I will lean out naturally.

Believe me, I completely understand that this article raises questions:

Can we live forever?  I think we can.  I think we’ll be able to upload our consciousness into a computer and live forever.  Or, nanotechnology will be able to stop our aging process. Technically, that will be possible.  But the bigger question for me is: Do I want to live forever?
When the machines become smarter than us and we cannot intelligently keep up without them, why would they need us?  Hello, Matrix anyone? Terminator?  We’ve all seen the movies where machines are smarter and it generally doesn’t go well for the humans.  Ray Kurzweil is very optimistic that we’ll all get along, but there are others who are not.

And so on, and so forth, and holy crap I need some more Advil. PLEASE comment below with your thoughts - I’d love a good healthy conversation about all of this.

Um, have a nice day?

Kevin Harmon
CEO Red Shorts Media LLC
twitter.com/imadness
http://www.linkedin.com/in/thekevinharmon
kevin@redshortsmedia.com

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