Dear Felicia:

I’ve been considering starting my own web based business for two years now. I’ve searched high and low for information, products and marketing and because there’s so much junk out there it is hard for me to distinguish the good information from the bad. I would like to know if you have any information that would be helpful in making the right decision on what direction to go in, in terms of products to promote and also about any resources for inexpensive but effective marketing tools? Thank you so much for taking the time to read my email.

Ms. Osuigwe

via e-mail

Dear Ms. Osuigwe,

About 70 percent of Americans want to start a business and only about 35 percent have so you are not alone in your desire to launch a company or uncertainty about where to seek ideas and get started!

Deciding what to pursue depends on a few variables such as how much start-up capital you have, whether you want to sell a product or service and whether you want to build a lifestyle business (one that you run primarily on your own) or a scalable business that generates in excess of a million dollars annually and requires a team to run it.

My three tips for you to get off to a fast and successful start are:

Research emerging trends or think about products and services that people already buy.  Launch a business based on emerging trends or determine how you can provide products and services in a better, more convenient way, with a higher level of service — or to a specific niche or different geographic area.  There are Internet based companies that sell items as simple as basic household items.  The founders of Quidsi started out selling diapers via their original website, 1800diapers.com.  They were buying the diapers from big warehouse retailers like BJ’s Wholesale Club and Costco and sending them to their customers as orders came in via their site and toll free number.  As demand picked up they started selling other items, which is how they became profitable (and by running a very efficient business)!  The company eventually started selling through diapers.com, grew to $300 million in revenue, launched soap.com and has since been acquired by Amazon.  Find something that is an emerging trend or focus on something simple but offer it in a better, simpler or otherwise differentiated way.

Visit the local Women’s Business Development Center where you live. The U.S. Small Business Administration Office of Women’s Business Ownership has centers throughout the country that offer help to entrepreneurs.  These offices are supported by public tax dollars and provide free or low-cost services to people getting started as entrepreneurs.  Take advantage of everything they have to offer.  They help thousands of entrepreneurs every year; they can help you too.

Reduce your risk. Keep risk low for your new venture by spending as little as possible and launching as quickly as you can.  The ultimate test of a business idea is to launch it and get feedback from the market and tweak from there.  Basically, as people purchase — or don’t purchase — they will be communicating to you what they want to buy.  Sell them what they want and drop everything else.

I wish you great success.  Write to me at ask@feliciajoy.biz and let me know how it’s going!

Felicia Joy is a nationally recognized entrepreneur who created $50 million in value for the various organizations and companies she served in corporate America before launching her business enterprise.  She is often called on to discuss the ins and outs of entrepreneurial success and has appeared on CNN, FOX and in other national press.  Felicia operates Ms. CEO Inc., a company that offers inspirational merchandise for women entrepreneurs — as well as Joy Group International, LLC, a business development and consulting firm. Send her your questions at ask@feliciajoy.biz or www.twitter.com/feliciajoy.

Note: All advice offered in this column is for general information only.  Felicia Joy and The Atlanta Post are indemnified against any and all related claims.  Always seek the advice of licensed professionals before making business decisions.

Dear Felicia,

Since 2008, I have been a domestic violence survivor! Thank you Jesus!  I’d like to write a book that caters to young women about abuse. Every time I start to write, I draw a blank because I think about the horrible things I’ve gone through. Also, I’m scared that I’ll put my heart and soul into it, all for it to go nowhere. What kind of networking should I do? Who should I reach out to?  Do you think a book is a good idea?

Also, I’d like to start an event planning business–something that I can do from home. The only problem is I’m not sure about the events that I’d like to handle. I work for a television station as a budget director, so I know people who know people, but I’m not sure where to begin.

Please help!

Best,

Nicole

Dear Nicole,

You survived domestic violence and I am so glad you got out of the situation for good. Clearly you have a great career going for yourself and are thinking about new ideas.

Regardless of which idea you decide to pursue—a book or event planning—approach both of them as a business. Many times we start a business based on a personal experience or emotional spark. It is great to start from a place of inspiration. The excitement of those emotions can give you unwavering energy and courage in the early days; however, to grow and sustain a business, it needs to be just that—a business [that is] complete with a marketing and sales strategy, customer service, financial management, clear roles and responsibilities, consistent execution and a plan for growth.

So, let’s consider this a little further.

There are many questions to answer before launching a business. For instance, we need to know whether there are paying customers for what we plan to sell. We need to be clear about how our business will solve a problem or fulfill a desire.  We also need to be clear about how we can be different than competitors, either literally or through branding.

Regarding your book, you could build a business around it because, unfortunately, domestic violence is on the rise and can have a deep and detrimental impact on the lives of the victim, perpetrator and their families and friends; so, it’s something people are interested in avoiding or solving. There is also a lot of shame associated with domestic violence. So, rather than making your book purely autobiographical, maybe you could use your story to teach people how to steer clear of domestic violence in the first place and how to get out of the situation if they’re already in it. That’s the book.

Now about the business: how would you make money? There are only three segments of customers: consumers, businesses or the government.  You could sell your book to all three categories.  To do so, you’d have to position yourself as an expert and have a solid marketing and sales strategy. Plus, you have to think about how your business will earn recurring revenue. The book sale happens one time.  Perhaps you could create a program and get contracts with companies to teach new hires about how to avoid domestic violence or get out of the situation, and how to support a co-worker who may be enduring domestic violence. You could also contract with universities to teach every incoming class how to deal with this issue since the greatest increases in domestic violence are among high school and college-aged youth.

As for the event planning, consider all the same questions and really think about how you can differentiate your business.  There are so many event planners that the best way to be successful is to become a planner in a niche—perhaps for one industry or for one type of event. For example, you work at a television station. Maybe you could become an event planner who works with producers for live media events.

These are just a few ideas to help you think through which business you want to pursue. As far as struggling to write the book, try to write everyday and do so without going back to read or edit what you’ve already written. When your emotions well up, write down what you are thinking.  Pouring your feelings out on paper will probably help free you from any lingering effects, and the authenticity of your story, paired with how-to insight on getting out of a domestic violence situation, could help a lot of people in the end if you decide to release a book.  Find a top notch editor who can whip your story and insights into shape after you’re finished.

I wish you so much grace, peace and favor as you continue on your life’s journey.  Write to me at ask@feliciajoy.biz and let me know how it’s going.

Note: All advice offered in this column is for general information only.  Felicia Joy and The Atlanta Post are indemnified against any and all related claims.  Always seek the advice of licensed professionals before making business decisions.

Felicia Joy is a nationally recognized entrepreneur who created $50 million in value for the various organizations and companies she served in corporate America before launching her business enterprise.  She is often called on to discuss the ins and outs of entrepreneurial success and has appeared on CNN, FOX and in other national press.  Felicia operates Ms. CEO Inc., a training and development company that helps women entrepreneurs achieve more success, faster — as well as Joy Group International, LLC, a business development and consulting firm. Send her your questions at ask@feliciajoy.biz or www.twitter.com/feliciajoy.

Dear Felicia,

I am a single mom of 5 and have been a freight broker with my company for five and a half years. In July of 2008, I was transferred to Houston from California, made partner in September of 2009, and have been working from home ever since. Domestic freight has been at an all time low for the last few years so I figured I should tap into my other crafts. I can cook very well and I usually have a lot of people asking for dishes and recipes all the time. I am not in the market to make catering my primary business, but I definitely want to find ways to push my business and get it off the ground without a lot of money.

My mother was my biggest supporter and I lost her to cancer in September of 2010, so getting things moving has been hard for me. I feel the drive inside of me to keep moving, but haven’t actually put that into physical works yet. I am dedicated to providing a stable future for myself and my children. My daughters, aged 16, 14, and 13, are very helpful with their twin brothers, aged 2, and we work very well as a family, so I want to find ways to include them as well.

If you have any advice for me, it would be greatly appreciated. My family’s stability is my main priority.

Jen B.

Texas

Dear Jen,

I absolutely admire your strength and courage. Condolences to you for the loss of your mother; I wish you and your children the best. I can appreciate your love for cooking and wish I were near you because I love to eat!

Let’s get down to business. I know you are currently focused on catering, but that’s a labor and capital intensive business, and you said you need to keep costs low. What immediately jumped out at me is the unique—and very valuable—skill set you have as a result of working in the freight industry.  Are you kidding me?  You are knowledgeable enough about freight to be so valuable to a company that they asked you to move to keep working with them and have retained you as an employee even though business has slowed down. Unless a non-compete clause in your employment agreement prevents you from starting your own business in the freight industry, I think that’s the direction you should go!

Here are three steps to move forward:

Identify the best customer base and business:

There are only three segments to sell to in any business: consumers, businesses or government.  You have specialized knowledge that many companies could use and perhaps even the government.  Visit the U.S. Small Business Administration Women’s Business Center in your area (you can find it on the Office of Women’s Business Ownership web page) to get help, but start thinking about and researching what kind of business you could start based on your professional background.

Prepare yourself to do business with the federal government:

The federal government is mandated by Congress to spend five percent of its annual procurement budget with woman-owned small businesses.  Right now that represents $179 billion in business and the government has created a set aside contract program for women entrepreneurs who are in certain industries (NAICS codes).  Find out if freighting is one of their select industries and position your business for a contract. You can register and learn more about the process on the Women-Owned Small Business Contracting Program web pages.

Join the biggest chamber of commerce near where you live:

Freighting is specialized so you need to connect with the right kinds of customers and companies.  Joining the largest local chamber of commerce is one of the best ways to do that. They have data about their members and contact information. You need to find mid-sized businesses with a market capitalization of $1 million or more who are having trouble with domestic freight planning, or need other help in that area that you are trained to provide. Set up an annual or multi-year contract agreement with your customers to help them develop the freighting systems and processes they need.

As far as your children, you can continue to make your business a family affair by having them complete office work (and whatever you pay them is tax deductible).  It’s awesome that you are teaching them entrepreneurship, team building and a work ethic at an early age. That will serve them well in life.

Good luck!

Note: All advice offered in this column is for general information only.  Felicia Joy and The Atlanta Post are indemnified against any and all related claims.  Always seek the advice of licensed professionals before making business decisions.

Felicia Joy is a nationally recognized entrepreneur who created $50 million in value for the various organizations and companies she served in corporate America before launching her business enterprise.  She is often called on to discuss the ins and outs of entrepreneurial success and has appeared on CNN, FOX and in other national press.  Felicia operates Ms. CEO Inc., a training and development company that helps women entrepreneurs achieve more success, faster — as well as Joy Group International, LLC, a business development and consulting firm. Send her your questions at ask@feliciajoy.biz or www.twitter.com/feliciajoy.

Dear Felicia,

I am a 32-year-old married woman and I would like to start my own small business. I live in the Midwest and there is not a very large African American community here. I’m not sure what would be lucrative right now. Do you have a few small business suggestions that would be wise investments for my type of community?  Thank you.

Miisha P.

via e-mail

Dear Miisha,

Congratulations on making the decision to start a business! 

Have you discussed your goal with your husband?  That’s a good first step.  Launching and growing a business takes dedication, focus and time away from things you used to do so it’s important to prepare yourself and the people around you for your new commitment, particularly when you are married.  Having the full support of your spouse will make your journey a bit easier and certainly less stressful.

As far as the small African-American population in your community, you didn’t mention why you think that might be an important factor for your business start-up, so I’m not sure how you envisioned that impacting you.  Don’t focus on that except to use your knowledge of demographics to make wise decisions about the kind of business you start.     

If you are planning to start a local business — as opposed to a web-based business where you reach consumers far and wide—then you should consider the full demographics of the area, including gender, age, average household income and local culture. This analysis will give you some insight into what might be popular in your city. 

Since I don’t have more details about your skill set, income goals or how much you have for start-up funds, the possibility for types of businesses is wide open.

Here are 10 questions and a great resource for you to think about as you move forward.  The answers to these questions will help you decide on a business you can start:

1. What are local trends? 
2. How much money do you want to make and at what profit margin?
3. How much start-up capital do you have?
4. Do you want to build a lifestyle business, where you run it alone or with just a little help; or do you want to build a scalable business that is eventually operated by a team of people whether you work in the business everyday or not?
5. What are popular businesses locally?
6. What kinds of local businesses have recently closed?
7. Do you want to sell to consumers, businesses or the government?
8. How big is the local market for various business types you are considering?
9. Given local trends and business opportunities, which ones interest you?
10. What kinds of successful businesses in your community could you partner with in a complimentary affiliate relationship to help grow their business and yours too?

Once you have these answers, reach out to the Women’s Business Centers in Colorado, which are sponsored by the U.S. Small Business Administration Office of Women’s Business Ownership, to get specific assistance at low to no cost as you continue to research and plan for your new business. Drop me a line at ask@feliciajoy.biz and let me know how it’s going. Good luck!

Note: All advice offered in this column is for general information only.  Felicia Joy and The Atlanta Post are indemnified against any and all related claims.  Always seek the advice of licensed professionals before making business decisions.

Felicia Joy is a nationally recognized entrepreneur who created $50 million in value for the various organizations and companies she served in corporate America before launching her business enterprise.  She is often called on to discuss the ins and outs of entrepreneurial success and has appeared on CNN, FOX and in other national press.  Felicia operates Ms. CEO Inc., a company that helps women entrepreneurs achieve more success, faster — as well as Joy Group International, LLC, a business development and consulting firm. Send her your questions at ask@feliciajoy.biz or www.twitter.com/feliciajoy.

Dear Felicia,

I am a professional makeup artist and I just started my own online cosmetics company. I would like to know if I need to register with the federal government, in addition to registering with the Secretary of State for my trademarks.  I am concerned about my logo, slogan, catch phrase and my company name. Also, can you recommend an inexpensive lawyer and accountant in my local area?

Eric D.

Los Angeles, CA

via e-mail

Dear Eric,

Congratulations on transforming your business into a product and service company with the launch of your cosmetics line.  That’s a very important step because one of the secrets to long term business success is residual or royalty income.  That’s income you earn by doing work one time (in your case, developing the cosmetics line) and getting paid on it infinitely. High five!

As far as registering your logo, slogan and company name as trademarks–yes, you should definitely protect your unique brand property after you have used it in commerce for at least six months and know for sure that you want to stick with what you have.  Entrepreneurs often tweak and change their logo, slogan and other brand elements in the early days of business because you’re growing into your new creation and you may also get constructive feedback from others that inspires you to adjust.  Don’t worry too much about this because you can always get new trademarks later if you need to. But, at $275 or more, to register a federal trademark, changing your mind can add up.  It’s much better to carefully and strategically think through your brand upfront to be sure it conveys what you intend and you really like what you have.

You can register your trademark with your Secretary of State, as you mentioned. But in California, it costs from $70 to $100 to register a mark.  Since registering with the U.S. Patent and Trademark Office starts at $275 — and gives you national protection — you should pursue a federal trademark if you can.  Also, note that each element you mentioned — the logo, slogan and company name — will all have to be separate trademarks unless the “specimen” (a visual representation of what you want to trademark) includes all of those together in one design. Also,  if you submit one design, then only that complete mark is protected, not the individual elements.

I’m glad you asked about an attorney and accountant.  That means you are taking your business seriously.  I don’t have specific people to recommend, but be sure that the attorney and accountant you eventually work with have professional credentials.  You can search the State Bar of California database to make sure your attorney is in good standing and check the California Board of Accountancy database regarding the status of any accountant with whom you are planning to work with.  Since you need someone who will work with you on a modest budget, ask a few local business owners about who their attorneys and accountants are and do your homework on potential candidates before getting started.

Note: All advice offered in this column is for general information only.  Felicia Joy and The Atlanta Post are indemnified against any and all related claims.  Always seek the advice of licensed professionals before making business decisions.

Felicia Joy is a nationally recognized entrepreneur who created $50 million in value for the various organizations and companies she served in corporate America before launching her business enterprise.  She is often called on to discuss the ins and outs of entrepreneurial success and has appeared on CNN, FOX and in other national press.  Felicia operates Ms. CEO Inc., a company that helps women entrepreneurs achieve more success, faster — as well as Joy Group International, LLC, a business development and consulting firm. Send her your questions at ask@feliciajoy.biz or www.twitter.com/feliciajoy.

Dear Felicia,

I have a question with regard to online businesses. I run an online music video website that will soon be adding e-commerce as a revenue stream. Is it necessary to register my business in a particular state although the transactions will primarily take place online?

Thank you,

Charlie

via e-mail

Dear Charlie,

There are three main reasons — and depending on your long term plans, a fourth reason — to register a business with the state: liability, credibility, taxes and ownership.  Liability is a concern if you operate a business with a physical space where an accident can happen, or if you operate a business in an industry that is highly litigious. An example of such an industry is financial services where people might allege that a business ripped them off and take civil action to recoup their losses. But it doesn’t sound like liability is a big risk for you.

If you are the sole owner of your business, and are planning to give ownership to others as you expand, then you may consider registering with the state so that you codify your business and operating agreements.

Now we’re down to the two reasons that probably matter most for you: taxes and credibility.  A well-managed, unregistered business is no less credible than a registered business, but a registered business creates a perception of higher authority and trustworthiness.  Since you operate an online business, you should take advantage of that perception. People have heard of Napster, iTunes and Amazon.com, but they may not have heard of you.  Most people are accustomed to shopping online at this point, but scores of people are still leery (including my mom). So, if they wanted to check to make sure your business is legit before making a purchase from your website, then an easy way for you to create instant credibility and set them at ease is to be registered with the state.

Also, there is the issue of paying and collecting taxes.  You can take advantage of most business deductions whether you are registered or not. But some advanced deductions may require that you are a registered entity. Plus, if you were to ever be audited by the IRS, they would have a harder time declaring your deductions invalid because your business seems like a hobby if it is registered with the state.  (This is more of a concern for part-time entrepreneurs who could more easily be pegged as hobbyist. I am mentioning this because I’m not sure of your status.)

As far as collecting sales taxes, generally, if you have a physical presence in a state, like a store or business office open to the public, then you must collect and remit sales taxes from online purchasers in that state.  But this is a murky subject because there is no consistent rule from state to state.  Check with your state revenue department and tax attorney for the final word.

Ultimately, you don’t have to register, but it’s a good idea to do so. You can simply register in the state where you reside and from which you operate your business.

Grace & Peace,

Felicia Joy

Felicia Joy is a nationally recognized entrepreneur who created $50 million in value for the various organizations and companies she served in corporate America before launching her business enterprise.  She is often called on to discuss the ins and outs of entrepreneurial success and has appeared on CNN, FOX and in other national press.  Felicia operates Ms. CEO Inc., a company that helps women entrepreneurs achieve more success, faster — as well as Joy Group International, LLC, a business development and consulting firm. Send her your questions at ask@feliciajoy.biz or www.twitter.com/feliciajoy.

Dear Felicia,

I am interested in starting a day care center in Atlanta, Georgia.  I am in school now for day care management, and I have over seven years of experience in the field.  Where do I go to find grants to help me?

Ms. Q. Rucker-Woods

via email

Dear Ms. Rucker-Woods,

You can find legitimate federal government grant opportunities online at http://www.grants.gov, which is the U.S. government’s portal for announcing competitive grant projects.  Since you are planning to open a daycare, the Administration for Children & Families under the U.S. Department of Health and Human Services is the agency most likely to announce grant opportunities that you might be eligible for once your childcare center is open. You may want to join their e-mail list to keep up with news and announcements from their agency.  For example, in 2010 they offered a competitive grant opportunity to boost the success of Head Start, an early childhood education program¹.

Now that I have addressed your core question, I want to take this a step further and point out a few things because there is a lot of misinformation about grants.

People typically think of grants as free money to pursue their interests or business ideas.  It is free money, but not really.  Government grants will typically go to non-profits.  They will also often require that you have matching dollars and an evidence-based plan for sustaining the program that those federal grant dollars help you create.  To meet these criteria, you have to already have funding and documented results at your up-and-running organization.

Also, grants aren’t available for general business use.  They have to be used for very specific projects and outcomes that the government wants to achieve.  To compete for grant dollars, organizations have to submit a detailed plan that shows how their program, staff and skill sets can contribute to the overall objective.  If an organization is awarded a grant, it has to submit detailed reports and keep up with a lot of compliance paperwork too. Because the government realizes that the compliance requirements could be burdensome to a small, individual organization, it often provides the grant monies to state and local governments and leaves it to them to disburse the grants further, hold grantees accountable and provide technical assistance. In the end, this means smaller grants for the organizations that are fortunate and skilled enough to get them.

If you are seeking grants to start your business, you are better off seeking an SBA-backed small business loan.  There are several things in your favor. You have work experience in the child care industry, and you are pursuing an educational program that will further equip you with the skills to succeed. In addition, successful childcare businesses have an average profit margin of 39.1 percent—not the highest in the profit margin pecking order, but not the lowest.

Since you are still in school and know that daycare ownership is your goal, prepare yourself further with these steps:

1.     Pull your credit record and make sure there are no errors.

2.     Establish a relationship with a small business loan officer at a local bank that makes SBA-backed loans.² Find out from this person what a dream file would look like and prepare yourself to present that dream file.

3.     Consider alternative lending sources like Prosper.com.

4.     Write a business plan; the process won’t guarantee your success but it will clarify your ideas.

5.     Identify two or three successful daycare owners in other cities (so they won’t see you as competition) and interview them. Ask them about their ups and downs in that business and their advice for you. Do this after you’ve done the research for your business plan. Be prepared with solid questions, offer them lunch, wrap up in the time that you said you would and send them a handwritten note within a day of meeting with them.

Good luck!

Grace & Peace,

Felicia Joy

¹ U.S. Department of Health and Human Services – Administration for Children & Families

² Georgia SBA lenders

Felicia Joy is a nationally recognized entrepreneur who created $50 million in value for the various organizations and companies she served in corporate America before launching her business enterprise.  She is often called on to discuss the ins and outs of entrepreneurial success and has appeared on CNN, FOX and in other national press.  Felicia operates Ms. CEO Inc., a company that helps women entrepreneurs achieve more success, faster — as well as Joy Group International, LLC, a business development and consulting firm. Send her your questions at ask@feliciajoy.biz or www.twitter.com/feliciajoy.

Dear Felicia,

I am an events sponsorship consultant.  I advise entrepreneurs on how to save money on events and in their businesses.  With entrepreneurship on the rise, and bank loans declining, I would like entrepreneurs to know that there is a solution to achieving their dreams and goals without going into debt.  Do you have any suggestions on how I can spread the word?

Roberta V.

via email

Dear Roberta,

Yes, there are lots of ways to spread the word about the valuable services you offer.  Here are five to get you started:

1. Write: Write an article every week or every month and submit it to an article bank like ezinearticles.com or ideamarketers.com.  These websites generate a lot of traffic so when people enter key words or phrases into Google or other search engines, if the words they have entered are in any article on these sites, then it is likely to show up high in the search results.  The article they view could be yours!

2. Read: Read blogs and magazines related to your area of expertise. Post comments every week or write to the authors of the articles and offer to provide data or information for their next article. Make yourself a go-to resource and you can get publicity for your business.

3. Use social media. Even though millions of people and businesses are on Facebook, Twitter and LinkedIn, most businesses still don’t use these resources effectively, but you can.  The key is to be relevant and useful. Tweet and post on Facebook and LinkedIn the top three to five points in each of your articles, and ask people what they think about them.  Also, as you are reading the blogs and magazines I previously mentioned, tweet and post on Facebook and LinkedIn the insights and data points that jump out at you.  You will become known as a wealth of information on events sponsorship.

4. Present a webinar. Offer a free webinar about how sponsorship can boost the success of an event and the marketing efforts of a small business. You can use a free service like anymeeting.com. At the end of the webinar, offer a free consultation to anyone who wants to learn how to apply the information you have shared to their specific business. At the end of the one-on-one consultation, sell the person your event sponsorship services.

5. Post your slides for more traffic. Upload a few of your slides from your webinar for free to slideshare.com.  On the last slide indicate that a person can see the full presentation for free by registering for your next free webinar.  Provide a link for them to do so.  The e-mail addresses you capture from doing this will create a nice list of leads you can follow up on.

Notice how each of these marketing and publicity activities is integrated so you’re repurposing the same content.  This is how you do the work of creating the information one time and then use it in various formats to “spread the word” over and over again.

Good luck!

Grace & Peace,

Felicia Joy

Felicia Joy is a nationally recognized entrepreneur who created $50 million in value for the various organizations and companies she served in corporate America before launching her business enterprise.  She is often called on to discuss the ins and outs of entrepreneurial success and has appeared on CNN, FOX and in other national press.  Felicia operates Ms. CEO Inc., a company that helps women entrepreneurs achieve more success, faster — as well as Joy Group International, LLC, a business development and consulting firm. Send her your questions at ask@feliciajoy.biz or www.twitter.com/feliciajoy.

Dear Felicia,

How does a small business get and stay organized when it comes to administrative and miscellaneous tasks?

Nubia P.

via Twitter

Dear Nubia,

Administrative and miscellaneous tasks are a necessary part of business, but they sure can be big time wasters too.  If you are able to hire an administrative assistant who is primarily responsible for these tasks, or delegate them to a virtual assistant, then this will save you a lot of time — and make you more money — in the long run.  However, if you have to handle them for yourself until your business grows, then get disciplined about scheduling them as part of your day.

Here are four steps for maximizing your time and remaining organized to handle administrative tasks while running your business.

1.     Complete your critical or “must-do” tasks first: Identify your revenue-generating tasks and put them at the top of your daily to-do list.  Keep your list short at seven items or less.  You can keep a master list of to-do items a mile long, but keep that in a folder or Word file somewhere else.  Don’t use your long list as a daily guide because subconsciously, it is not good to end your day everyday with more things left to do than you have completed.  It is more psychologically rewarding to have a short list that you complete or nearly complete each day.

2.     Schedule everything, including breaks for administrative tasks: Schedule your day with a generous amount of time for revenue-generating tasks because they are priorities.  In between these tasks, or as a short break from them, schedule 15 to 30 minutes for administrative or miscellaneous items, such as answering e-mail or returning calls.  Working in blocks of time like this has really helped me.  I have gotten to the point where I schedule everything, including time for interruptions.  I know this may sound a little rigid, but it takes a good bit of discipline and focus to build a business that pays for itself and pays you well so sometimes we have to upgrade our habits.

3.     Start your day with energy and focus: Every day before I start working I take a few quiet minutes to get centered.  I then check my BlackBerry calendar so I know what is ahead.  I also have my to-do list — written the day before — on my desk waiting to be worked through when I get started in the morning.

4.     Be honest with yourself and eliminate or minimize distractions: I have found that e-mail and telephone calls distract me a lot.  So now, I don’t check e-mail or make phone calls until I have done two or three things on my list.  This way I build momentum and it’s easier for me to get back to work after checking e-mail for 30 minutes or taking a call.  I also now put my BlackBerry on silent and leave it in my purse and out of reach while I am working.  If it is there on my desk, I have the tendency to keep checking it every two minutes.  This is so silly, but it’s what all these gadgets and the Internet have done to us!  Identify your time wasting weaknesses and set yourself up for success by getting rid of the distractions.

Unless you are naturally structured, when you first attempt to manage your time like this it will feel odd and you will stray from it. But eventually if you stick with it, you will form new habits and feel great about how much real work (not busy work) you are getting done and that will compel you to stick with it.

Grace & Peace,

Felicia Joy

Felicia Joy is a nationally recognized entrepreneur who created $50 million in value for the various organizations and companies she served in corporate America before launching her business enterprise.  She is often called on to discuss the ins and outs of entrepreneurial success and has appeared on CNN, FOX and in other national press.  Felicia operates Ms. CEO Inc., a company that helps women entrepreneurs achieve more success, faster — as well as Joy Group International, LLC, a business development and consulting firm. Send her your questions at ask@feliciajoy.biz or www.twitter.com/feliciajoy.

Dear Felicia:

I am interested in starting a strategic marketing business. I became interested in this field because I have been assisting friends and acquaintances who are starting new businesses with finding the right kind of insurance, making telephone calls, conducting research, marketing their product and obtaining venues.  But it has been impossible to get them to pay me for the resources and information that I have provided, which is invaluable.

I am currently not working.  I got laid off of my job as a legal secretary about a year and a half ago, and I have been trying to look for work and establish a business.  Do you have any suggestions?

Thanks,

Sheila B.

via e-mail

Dear Sheila,

I am glad you are considering the idea of starting a business while looking for work.  When some people are downsized they shut down and don’t consider all their options.  The reality is, for many people, becoming an entrepreneur — even if on a part-time basis — will be their best bet going forward.

First, let’s address your business.  The projects you have completed for friends touch on marketing, but most of them sound like advanced administrative tasks (insurance analysis, making telephone calls, conducting research and securing venues).  So, start there. Which business do you really want to launch: a strategic marketing firm or a freelance administrative business?

Your legal background gives you a strong leg up on the competition if you become an independent executive assistant. This way, you can help solo entrepreneurs and small businesses with both marketing and compliance (proper insurance, business licenses, quarterly tax filings and more).

So, you can go the general route, or you can create a lucrative niche by assisting businesses in a specific industry.  If you do this, specialize in industries that are booming such as environmental protection, energy, healthcare, technology, pharmaceutical or biomedical sciences.  On another note, since you have a legal background, an additional option is to sign five to 10 busy law firms as clients and bill them hourly as an on-call legal assistant.

Regardless of which business you decide to pursue, starting out, all your time needs to be spent selling and marketing your service so you can build your client base.  As you gain clients, you will spend more time doing client work and less time selling and marketing; but, don’t ever stop selling and marketing, even if you have someone else handle it for you.  This is a big mistake many entrepreneurs make–once they see the money coming in, they stop marketing. Always market your business.

If you work until you get to 35 hours per week doing client projects at $45 per hour (a national average for the kind of services you are considering offering) then you’ll be at about $75,000 per year in revenue before taxes and other expenses, and you still have five to 10 hours per week (or more) for marketing.

As for your friends not paying you, they either refuse to compensate you because you haven’t officially launched the business and made it clear to them up front that you are now handling marketing or other projects for a living; or they won’t pay you because they think as your friend they are entitled to your talents for free.  Nip both of these in the bud.  First, make a decision about what kind of business you want to start and launch it, even if only part-time.  Second, stop doing free work!  Don’t even allow people to “pick your brain” unless they compensate you for a consultation.  Period.

Good luck!

Grace & Peace,

Felicia Joy

Felicia Joy is a nationally recognized entrepreneur who created $50 million in value for the various organizations and companies she served in corporate America before launching her business enterprise.  She is often called on to discuss the ins and outs of entrepreneurial success and has appeared on CNN, FOX and in other national press.  Felicia operates Ms. CEO Inc., a company that helps women entrepreneurs achieve more success, faster — as well as Joy Group International, LLC, a business development and consulting firm. Send her your questions at ask@feliciajoy.biz or www.twitter.com/feliciajoy.