Business Archives - Web with Grits

Starting a Business

Many persons have the desire and ability to begin a new life journey by starting a business. I found in the AARP Bulletin (January-February 2018) several great tips everyone should know when starting a business.

Use your experience when starting a business

You do not need to start with something you do not know. In other words, do not start from scratch. Each of us has many assets we can pull and use.
You have valuable knowledge. Use what you know. Find a way to use what you know to meet the needs of a niche.
You are your own asset. Be you. Use your characteristics and perspectives to meet your market niche.
You have a network. Keep in contact with those you know professionally and continue to foster new relationships. Talk about your work and the impact you have with as many people as possible.
You have what it takes. You know well that there are ups and downs with every job. So, since you are already a pro at working through the many changes in the workplace, use that to your advantage.
You can embrace new things. Sometimes you have to find new knowledge and develop new skills. It may be as simple as updating existing skills. You have what it takes so you can learn and do new things.
You can focus on you. Take starting a business to focus on you. Incorporate who you are as a person, what you like to do, and let your new endeavor show the world who you are, what you know, and what you can do.
You are a believer. You must believe in yourself. If you do not, then others are not likely to find in you your gifts. Yes, there will be good and bad times. Starting a business is proving to yourself and others that you believe in what you can accomplish.

Avoid pitfalls when starting a business

Starting a business takes work and determination. It is essential that you seek out and use the help available. You should also be wise when making many decisions. Even though you are using your expertise, you must also be humble. In other words, pay attention to what others have to say. Learn from them. It is possible that you were a big fish in your prior career. You may have wielded considerable influence. That is great. However, that also means you have the responsibility to be the newbie and willing to learn from others. Life and industry continue to change. You also need to change. Plan ahead. Make a budget that will allow you to weather the good and bad times when starting a business. I heard that it takes a good 7 years before a company is secure and turning a substantial profit. WOW, that is a long time. So, plan, budget, work your plan, and do not panic. You can do this.

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Photo by Matthew Henry from Burst

Invest in your business

Regardless of the size of your business, it is essential to find the resources needed to invest in your company. Helping your business grow is crucial especially for small business owners. There are many ways that you can invest in your business that do not necessarily mean spending excessive amounts of money. For example, setting aside a designated amount into the savings is always a good idea. You never know when the stockpile of funds will be needed for an unforeseen cost to the business. So let’s look at a few other ways that we, as small-business owners, can help our business grow.

How do you invest in your business?

Small business owners often start their business because they are looking for freedom in work, but more importantly to fulfill a dream and gain financial independence. As a small business owner, you are very well aware that cash flow is important. It is essential for all small business proprietors to consider ways to manage funds to best invest in the company and keep the organization open.

Tool #1 – Managing your money

Managing your money can be a daunting task. However, if you take the time to set up a few necessary tools and processes then tracking your funds will be less painful. The data you manage will provide you with a better understanding of your business finances and stability. One such tool is tracking your expenses. You can track your expenses using a spreadsheet. Another helpful way to manage your money is a budgeting or bookkeeping tool. There are many options available including some free ones. It is up to you, though, to be diligent in keeping your entries current. Whether we want to admit it or not, finances and how we manage our funds is a vital element to business success.

The financial tool that I use is QuickBooks Online. I have used Intuit products for many years; including TurboTax. The Intuit company has proven itself as reliable and trustworthy, and maintains the highest security possible for its applications. I sat down and considered what my financial tool could accomplish for me. I needed something to invoice customers, collect payment, track project information, track project expenses and billable time, and so forth. I chose the QuickBooks Online subscription that best met my needs. The time-savings with invoicing and receiving payments has been a very nice feature. I often receive payment within 24 hours. It greatly helps my cash flow!

Tool #2 – Financial goals

If you are tracking your expenses and you are also aware of your income you should be able to set some realistic financial goals, or projections, based on the information you have in front of you. For example, if you know that your monthly expenses are $1,000, then you are well aware that you need to balance out those expenses with the required income. You may find that you have a low-income season during the year. With the information you have, you can make plans for those financial ebbs and flows.

As a small business owner, it is also important to remember in your expenses such things as a savings account, a retirement fund, and an emergency fund. It is also necessary for us to consider essential purchases such as computers, major equipment, and vehicles. With that said in your expense list, you should also have categories for a savings account as well as funds that will be reinvested back into the company.

Tool #3 – Frugalness

One of the things that I have been pushing myself to do is to use no cost or low-cost resources. For example, I use a Mac computer. Office applications are included with the Mac operating system. Mac OS has word processing, spreadsheet, and presentation software that is part of their iWork package. Thus, I have been trying to go”native” using the Pages, Numbers, and Keynote applications. I have had moments where I was frustrated because I could not easily make those applications do what I was used to doing in another software. So, I downloaded the user manual for the Mac OS native applications, and I reference that material any time that I do not readily see a way to format or use a function. I also have used online videos as a free resource. Going native is helping me with professional development, which is an investment in my business.

Another option is to consider Google’s G Suite, which includes word pressing, spreadsheets, presentation, and other miscellaneous applications. You can set up a free account and have limited access to the many tools that are available through Google. It is also possible to pay a nominal fee to have more robust applications and greater online storage for your files. The critical point here is to evaluate what you really need and to choose from the options available that best meet your needs.

You can find no cost or low-cost tools that will help you track your finances. For example, when I am working on a project, I use an application that is called Timing. I have used the app for several years and found it to be well worth the cost (starting at $39/year). The Timing application also provides me with a good deal of information on what I am actually doing while on the computer. The app helps me stay on track with the work that I need to accomplish.

Tool #4 – Professional development

Investing in your company should also include training and development. If you are not keeping your skills and knowledge current, then it will become easy for you to miss opportunities meeting customer needs. So, it is crucial for you to find ways to work on professional development. Many options range from no-cost to way too much money. But when you consider the benefits along with the investment you can choose what best meets your needs.

Some of the resources I have used in the past include webinars from vendors. Practically all of the applications I use have free online training on their websites. I also find that YouTube and Vimeo will have videos that correspond to application training. I am a member of a few local groups, such as the Athens Georgia WordPress Meetup Group. I use this networking opportunity to gain from colleagues in the field. Another useful resource is your local Small Business Development Center. My consultant is Michael Myers at the UGA’s SBDC. There are several offices scattered across Georgia. Across the United States, there are similar organizations that provide consulting services and reasonably priced training about running your business.

Tool #5 – Project and task management

I found it is useful for me to document basic processes. Doing so helps me not to forget a task. I can also share the information with my clients, so they are in the know. Several tools can be used including the Office suite tools discussed previously or an online project and task management tool. I use the Asana online application. Asana has a free version that meets my needs. Other tools that you might want to consider would be Evernote, OneNote, and Trello.

Tool #6 – It’s all about you doing your diligence

Regardless of what you use to invest in your business, it all boils down to you taking the time to faithfully apply the tools in a way that benefit you and your business. The little bit of time that you take now to find a device can help you streamline a process or streamline communication, which, in turn, saves you time. Using faithfully the tools you have to help you stay on top of your information, finances, and work is a must. As a small business owner, you know that time is money. Thus, it is vital for all small-business owners to invest the time to invest in your business for success.

Tools that I use

Photo by Shopify Partners from Burst

Creating a brand is a serious endeavor—Who is our ideal customer?

What do people think of when they see your logo? …when they hear your business name? What do people say about your business? These are all elements of your brand. More importantly, your real brand are the thoughts and feelings that people have when they see your logo, hear your name, or talk about your company. It’s all about opinions and beliefs. Creating a brand for your ideal clients, or re-creating your brand, is a serious undertaking. Your primary focus cannot be on the logo!

What is a brand?

During the 2018 spring and summer, I took on a serious adventure. I started working with a company to build my business. Little did I know at the start of the project that to grow the business that I needed to re-identify my business. At first, I thought the feedback I received was petty and a matter of opinion. I realized as I listened to the information and seriously considered what was being said that it was the truth. I created my “brand” based on what I wanted. I learned that a brand is what your customers feel and think about you and your organization. Yes, looks are important; you know, the logo, color, and design characteristics. The most important aspects of a brand, however, are the concepts people get and have about your company. Oh my! I created my original brand backward. I never really considered what visitors and clients would have in their minds about my business.

Discovering your real identity (brand)

There are a few things you need to get a firm grasp on when you create or re-create your brand.

Who are your ideal or niche clients?
What feelings will your ideal clients have about your business?
What thoughts will your niche customers have about your business?
What images will your specific clientele relate?
What colors will you niche market make a connection as related to your products/services?
What is the problem(s) that your ideal customers have?
How can you serve your niche clients?
How are you able to meet your ideal clients’ needs better than anyone else?

Do you realize what I am asking with the questions I posed? It is all about your ideal clients!

Creating brand by focusing on the ideal customer

As I mentioned, I started my first company with what I wanted. I learned, though, that I needed to begin with who my ideal clients are. To be honest, I had to focus by deciding who the perfect, ideal, target, niche customers were for my business. I realized that I was trying to go after anyone and everyone that I could help with my services. Originally, I created my specific business offerings. I then used a shotgun approach that spread to the highest number of persons. WRONG!

Yes, I needed to know what I was offering. I needed, though, to specially define who I thought were the persons, or businesses, that I could help most. The concept I am describing may seem backward. OK, in some sense, it may be. However, without knowing some specific knowledge, you cannot build a successful business. I found that as I honed my niche market that I also was fine-tuning the business’ purpose. In turn, I also started pinpointing how I could meet client needs.

Figure out who are your customers. Learn what needs they have. Define how you can specifically address those needs. Build the case why you can meet the requirements better than anyone else. In doing so, you are answering primary questions that anyone looking for your business will have about you and what you do. It is a win-win.

Creating a brand for your ideal clients

Now that you have this information take the time to write some thoughts down about your ideal customers. Write down the questions above and then answer the questions. Be as specific as possible. In fact, you may find that if you keep your paper where you can see it for the next several days that you will be adjusting what you wrote to be more specific.

You are beginning the trek to creating a brand for your ideal clients that will grow your business.

You might also like to read Reflect, Rebrand, Restart for Growth & Improvement.

Small Business Tax Changes 2018

If you are a small business owner, including self-employed, you need t to be aware of the small business tax changes 2018. There have been some changes to the tax code that will impact small businesses.

IRS Webinar for Small Business Tax Changes 2018

To help you understand the changes and the impact it may have on your small business, the IRS has a webinar scheduled for November 1, 2018. I encourage you to check out

Tax Reform Basics for Small Businesses and Pass-Through Entities
Thursday, November 1, 2018
3:00 p.m. Eastern, 2:00 p.m. Central, 1:00 p.m. Mountain,
12:00 p.m. Pacific, 11:00 a.m. Alaska, 9:00 a.m. Hawaii
(60 minutes including Q & A)

See the IRS Webinar registration page for more information.

Task Management: Chaotic, Multitasking, or Organized Tasking?

What type of organizer are you? What are the task management skills you use? You are likely, depending on your personality, to fall into one of two categories:

nonorganized or chaotic task management, or
organized or structured task management.

Some people, though, believe there is a third category; that is multitasking.

Chaotic Management

My brother and I shared a room much our younger years. We were practically complete opposites concerning our stuff in the bedroom. I tended to have things folded, organized, and tucked away in a dedicated location such as the closet shelf, drawers, or hanging in the closet. My brother, however, followed more of a chaotic management style with his belongings.

You may know the type. Heck, you may be one of those persons. Everything does have its place. Things are categorized in some fashion. Typically, these persons know where things are at any given moment. For example, I remember my brother, Larry, having three piles of clothes: clean, worn but not dirty enough to wash, and laundry. His comic books collection was arranged similarly. I did not, though, figure out that categorization. Ironically, Larry could find practically anything he needed.

Organized Management

Let’s revisit my childhood bedroom to continue the example. I was not like my brother. I tended to have all things organized and placed in respective designated areas. I developed a first-in-first-out rotation for my clothes. For example, the clean laundry would go to the right or behind the remaining clothes in the drawer or closet. That allowed me to ensure I wore all of my clothing. (OK, at this point you are agreeing with me or rolling your eyes thinking I had OCD.) Strangely enough, Larry and I shared the bedroom without either of going insane.

Multitasking Management

Some persons believe there is a third type of task management. Multitasking is being able to handle many tasks at the same time with little to no confusion. If you know one of these personality types, you most likely are amazed by their abilities and wonder how they manage. If you are the type, you are proud of your skills.

Research shows, however, that there is no such thing as multitasking. Instead, some persons can switch between tasks quickly and efficiently. The quick-change artists develop a way to prioritize tasks working among the to-do items with ease. Amazingly, these persons are able to focus and refocus each time on a different job as needed.

Task Mangement

I use a checklist when working with clients and on nearly all projects big or small. I take the time to think about what needs accomplishing and the best order to complete work. The list may be short and jotted on a scrap piece of paper on my desk. More extensive lists typically are recorded digitally using an application that allows for checkboxes.

Since I want my clients to be in the know and to share in the project work, I incorporated an online app, Asana. The application allows for setting start and end dates, due dates, who is responsible, notes, attachments, and a few other features. Asana also allows those working on the project to see the scope and what is involved in making the project success. I believe this is important to help everyone understand all of the work needed for a successful outcome.

I will break down element of the Asana application with a future post.

Balancing Out

I thought I would provide you with a short update on my brother’s organization and my current status. When Larry went off to college his dorm room was miraculously spotless. I, however, swung toward the other extreme becoming less organized. For example, when I am working on something and focused, items that are not immediately needed on the project are put into a pile for future review. If I am not careful, I find that I do the same thing with completed work. I “neatly” stack all of the files and related items into a collection for future archiving. My problem is that I tend not to complete the archival process often enough. Even now I have three projects stacked on the edges of my desk waiting for my due diligence.

Perhaps it is true that time mellows all things or balances all things. 🙂

I learned, primarily from my roommates over the years, that everyone has her/his own task management methods. Just because it is not what I do does not make it wrong. However, when working with others, the team must work together and manage all of the tasks for efficiency and communication.

Reflect, Rebrand, Restart for Growth & Improvement

If you are a small business owner, you know that you are continually working on marketing your services or products. Your business success depends on the daily work or sales you have. I noticed that my business needed a boost. So, I took some time to find options and then took the dive into getting some help. The coaching process caused me to reflect, rebrand, and restart.

Reflect, Rebrand, Restart

I should provide you with a bit more history to this story. I started helping people with technology in 2000. Over the years I found myself, however, working more on websites and using more web tools. My time and energy changed to website design and services. I decided to pursue web design services after some encouragement from Dave and others.

I was struggling with what to do full time and how to keep a steady income. Yes, I had my adjunct teaching. Teaching as an adjunct instructor, however, is considered part-time. The number of courses varies each term. I may have one class this term and four courses the next semester. I greatly enjoy teaching and will continue to do so. I needed to focus and move forward with my business.

Reflect

I began by reflecting on what was happening and the future. Taking Michael Jackson’s advice, I “needed to change the “biz” in the mirror.” I thought about the possibilities. I knew what I enjoyed doing. I just needed to fine tune how to get that ideal position working. Most of my consideration was spent on my business, Tech-Wise Services. Taking the time to reflect on the company and how well it was doing was a process I avoided. I knew I needed to revise what was happening and what I was doing as I did not have sufficient leads for full-time work.

I found two companies that provided coaching for web design businesses. I read the information I found on the web about both, and I researched their business and web pages. The first company focused more on business processes. The second company provided a more in-depth look at what it took to build a web business. I decided, then, that a return to the basics would give me more tools to help others develop a web presence. Business processes at this point were not the problem. I wanted people to feel from my website that

I knew what I was doing,
they could relate with what I was saying, and
they found something in my web design they liked.

A few years ago at WordCamp Atlanta, I attended a training session on evaluating your website through your customers’ perspective. The speaker was the owner of the second company I mentioned. I dug up that speaker’s information. I found that her company offered to coach mastering web design and development for business. Like most people I searched for and read reviews. It just so happened that a new session was beginning in a couple of weeks. I made contact and registered for the course and coaching. The 2018 spring and summer were packed full of learning and growth.

The first thing I learned was that I needed to reflect on my business, my goals, my niche market, and how I could provide specific services that my target customers wanted. Sounds easy, right? What I saw in the “mirror” was not what others saw. Every person in the course took the time to review the other members’ websites. We all shared what we liked and did not like. The coach also provided an assessment based on her years of experience as a web designer and business owner. I was overwhelmed. However, I did learn much from the evaluations. I also found the group encouraging. We were all in this together.

Our assignments included evaluating our business and website based on the topic of the lesson. We also had to work through the process we would lead our customers through when building a website and web presence. I found it difficult to put down on paper what was rattling in my head about my business. Some of the information made sense while other parts did not. Some elements were confusing or difficult to understand. The time spent reflecting on my business was well worth the challenge. Fortunately, the coaching and materials challenged me to work through the maze I had created for myself. If nothing else, the accountability in the course and the question, “What do you mean by that?” provided me with the challenge needed to reflect on what I was doing. Then, I thought about and specifically defined my target customers. I finally landed on specifics, which gave me a precise target, and determined what I needed to do to grow.

Rebrand

Branding and rebranding occur when you take the time to focus on who you serve, what you provide that your ideal clients desire, and how you can meet those needs in your own way. Your identity and what people think when they hear your name is more your brand than the colors and logo used. Yes, coloring, logos, designs, etc., are part of the brand. They are visual elements. It is the feelings and thoughts people have that are more important and that are your authentic brand. You need to find your identity and define your brand if you are a new organization. If like me, your business has existed awhile, you need to stop and evaluate your brand. You may only need a “fresh coat of paint.” Other times, you may need to work through intertwined details to refine and rebrand.

My core business values remained through the “reflection fire.” I wanted to help those who do not have the resources of larger companies. I wanted to be a champion for the “little guys and gals” in businesses. I started the rebranding process by making the business fresh, new, and more appealing to my target group. The new business name, feel, look, image, and character slowly showed life. My rebranding developed. I learned that a brand is not just the look and image of a business. It is, also, the feelings and thoughts people have when they hear your name and see your logo. I incorporated processes into my business model tailored to small business. I set up my services with the little guys and gals in mind. Thus, Web with Grits came into existence. I changed everything just to connect more with small business owners.

Restarting

Perhaps it was a pride issue. Then again, it may have been fear of the unknown. I took the plunge to restart my business after weeks of reflection and working on a fresh brand, a rebranding. Once I began the process, I kept wondering, “what if…” I realized, though, that I would never know the impact the new biz would have unless I gave it a try. I also knew that negative thoughts were natural, but I could not provide them with space. My restarting was a new opportunity. I improved myself and my business focusing more on what I wanted and could do. For you, however, restarting might be just taking a new approach to contact people or marketing. It is all a matter of what is best for you and the people you serve.

I am excited about Web with Grits and the potential it has to help others with a web presence. I believe that the new look and feel will make an impact on those I connect with. My coach provided me with several ideas on how to reach out to people. In fact, I have already begun working on those plans to make contact with others and to support persons needing a better web presence.

I hope that you will enjoy this new adventure with me. Taking time to personally and professionally reflect, rebrand, restart will give you a fresh perspective. I now see how important it is to do so. The process is something that can be done on some level yearly, quarterly, monthly, and even daily. The process is an incredible way to grow as a person and as a business.

How are you going to reflect, rebrand, restart?