How to set up your new business

Book: The Essential Business Handbook:
The Nuts and Bolts of Getting Up and Running Fast

Author: Beth Andrus

This book is a great reference book for all new small businesses. Everything you need is in easy to read chapters that are not over flowing with personal stories and information no one cares about. Andrus tells you what to do and why. Then she gives you a few resources to get it done. Don?t let the cartoon image of Andrus fool you. If you completed one item from each chapter, in less than a month you would be up and running.
Andrus writes in a simple style however she includes some very important information that people need. Every business must create a solid foundation; each brick of that foundation is covered here. All of the things you can find, however you are going to have to look several different places to get it all. Her explanation of resale number alone makes it worth it to get your book. Reading the California state government information booklet on resale numbers and how to calculate the tax is far more complicated that it should be. Andrus breaks it down with an easy to understand example.

Trademarks usually gets people stuck in the mud when starting their business. If you read Andrus chapter, you will be able to move beyond that even if you decide to go after a trademark. I also highly recommend the chapter on Cost Accounting. This is not exciting stuff when you are an entrepreneur, yet you must deal with it or pay the consequences later. She has a check list and glossary. No matter what your education level, you can enjoy this book. By enjoy the book, I mean, get the information, put it to use and get your business started. If you have a business already and are not achieving the success you want, this book can serve as a basic check up for your business.

This book is highly recommended for young or first time business owners. This book is a an L.A. 9!

An Entrepreneurs Guide to Leverage

This article will explain the concept of leverage for business owners and give good guidelines on how to use it for themselves.

When I talk about leverage in this article, I am talking about leverage as to gain advantage through the use of a tool. There are specific financial terms of leverage that we could address, however this not part of this article. As business owners there are 7 different kinds of leverage you can use to make your business more profitable.

You can leverage other people’s energy. By delegation and outsourcing tasks that do not bring in money, you can focus on the tasks that do result in money. You do not have to hire an employee. You can go online and virtual assistants and technical people that you can hire online.

You can leverage someone’s success. Biography’s can be a great place to learn about other people’s lives. You will begin to see their pattern of success.  You can learn from their difficulties. This is a great way to learn to save yourself time on your journey to success.  You can avoid their mistakes. This is why many entrepreneurs love biographies of great people.

You can leverage other people’s contacts. You can ask your current contacts for specific introductions to other people. Keep a running list of who you want to meet; you will be surprised at who knows them. Remember the six degrees of separation is real and easily working in our digital domains.

You can leverage other people’s credibility. By having a thought leader introduce you to a particular group, you get to use some of their credibility. The group already respects this person, so since you are also    respected by this person, they are more apt to accept you. Your status as an expert is greatly enhances by this strategy.

You can leverage other people’ ideas. It only takes one good idea to be super successful. It only takes one good idea, put to work to create a multi-million dollar business. One idea sparks another idea and so on. Some business ideas are like ugly babies. If you wait a while, they will grow into lovely children that pay off. If you throw them out because they are ugly at the beginning.

You can leverage other people’s knowledge, especially in a mentoring or coaching situation. What you are doing is getting accelerated learning courses for the topics you need help. With access to one on one coaching or even group coaching, you can use this knowledge that you did not have to spend formal time in a class or seminar to get.

Action items:

Get a coach or mentor

Buy a biography of a successful person and read it or listen to the audio book

Connect with someone who can lend you their credibility

Ask a colleague or mentor for an introduction to someone you need to connect with.

Get a virtual assistant or add someone to the team at least part tim

New Diamonds

As we move into this 10 year anniversary season of the Wright Place TV Show, I am putting into place some new things. 2 people who I have found to have great information and be fantastic people are Dave Saunders and Kimberly Kelly. I like to work with people I like and respect. And it really doesn?t matter if you make $10 million dollars when you treat people poorly and have no integrity. It?s great to make the money; however, you got some karma coming back that is going to kick your behind big time. You can only hope the money can pay to bail you out.

I digress. Dave Saunders and Kimberly Kelly will be contributing to the Wright Place in this upcoming year. Kelly will have some great articles on the site, so check them out. And Dave Saunders will be featured as our Branding expert on upcoming shows. Both of them have some great products and eBooks, so you need to check out their website and what they have to offer. Both also are wells of information that are barely being tapped right now.

Many of you are missing out by not engaging them. I hope my viewers take advantage of the resources these folks have to offer. They also both genuinely want to help my viewers. They know how to make money, however, they do care about people, like I care about people and that says a lot!

So check them out on the site and take advantage of what?s coming up!

PS, yes that is a sword in Dave’s hand , its a long story but he’s safe!

http://www.davesaunders.net

http://www.kimberlykelly.net and http://www.startupbusinesssurvivalguide.com

« Previous Page — Next Page »