Is your business on course?

How’s your business doing? Do you know what’s missing? Start to find your way by answering a few questions and using tools that are focused on your goals.

Available Information

Want a Mentor? Look around you.

Business Success Center prospects tell us in their initial meeting they want a “Mentor”  to advise and guide them to solve a specific problem or achieve a specific goal.

I completely understand. I’ve had several wonderful mentors. My godmother, Northwestern University professor Alvina Krause, had “teas”. At these salons, I learned the fine art of  conversation. My grandmother taught me the importance of family. My mother  helped me find my voice and be comfortable being myself. She always said “we grew up together”.  Maybe so, but she was my guide.

There were important male mentors, too. My brother Bill (aka WC Triplett, II) has worked for Presidents and Senators, Tibet and Tiananmen, written best sellers and significant treaties. He showed me how important it is to get involved. Ed Van De Vort  gave me confidence because he believed everyone was capable.

But when it comes to a business mentor, there’s been no one better for thirty years than my husband and partner Daniel Diener. That’s what I told Patricia Rogers when she interviewed me for the Austin Business Journal‘s “Journal Profile” published last December.

As a matter of fact, I met Dan because I needed a mentor for a photography project. He has always been willing to share his time, knowledge and expertise.

A good mentor is a guide, encourager, teacher, strategist, supporter — an exemplary person you want to emulate. That’s Dan.

What have I learned from him?

1. To be entrepreneurial.

Dan was selling papers on a street corner in downtown Chicago at age 10. When he lost his job, he moved south to start again. He landed at PETEX (Petroleum Extension Service at UT) made movies, wrote manuals that were translated into 15 or so languages, and became Special Projects Director. When the bug bit again, he started his own company, Dan Diener Photography. I was not a risk taker. He showed me you can succeed on your own. Dan was and is an innovator. He truly understands what it means to create assets that make financial and marketing sense.

2. To be systems driven

Dan was a teacher in Wisconsin and you never forget that you have to stay ahead of your students. That means being organized and systematic to the Nth degree. With his creativity that meant that he is always looking to improve things without being rigid. I learned from him how business systems can be very creative and rewarding.

3. To know how to fight fairly

In a business, partners don’t always agree. Just ask Marsha Vanhorn, our Client Services Manager, who’s worked with us 12 years. Early on, Dan helped us set rules of engagement. He prepared us for tough times. And, we’ve stuck by them through thick and thin. I think that’s why our business and our relationship has survived and thrived. The funny thing is though, somehow when we disagree, even strongly, he always makes me smile. He has a great sense of humor and it just bubbles out in what he says and how he says it. I also thank him for introducing me to the O’Henry Pun Off, a great Austin, Texas tradition. (Maybe I’ll see you there on May 21.)

There are so many other things I have learned from him: versatility, resourcefulness, staying curious, balance, strength, and comradery. I couldn’t have a better mentor and partner. He means the world to me.

Dan’s birthday is this week. I wish him many happy returns and a big thank you for helping make my personal and business life exciting, rewarding, and very special.

Here’s to you, Daniel.

If you want a mentor, look around you. That person may be closer than you think. Who has helped you learn or progress?

3 Older Business Books That Inspire

Periodically, it’s good to go through your business library and freecycle what no longer inspires you. Passing them along to others means I don’t have to feel badly about getting rid of books. Instead I think of them as getting a new home.

Here are three that I would not part with no matter what year it is or how old they they are. So instead of giving them away, I want to encourage you to add them to your library or go to the library and check them out.

Because people matter

Small Is Beautiful: Economics as if People Mattered by E. F. Schumacher was originally published in 1989 but is based on a 1959 series of London University Lectures. He promoted sustainability and green before they were popular.

Schumacher was ahead of his time. And, although some of the book is dated, it focuses on what still could be a wonderful world. Theodore Roszak refers to his approach as “nobler economics that is not afraid to discuss spirit and conscience, moral purpose and the meaning of life.”

It is uplifting to read. A client, Sharon Sarles, asked me if I had read this because she thought she heard me voice many of Schumacher’s ideas. I had not. But once I had, I never wanted to let this book and its vision disappear. I was honored that she thought that I had read it. Now I try to tell everyone who will listen about him and this book.

Small truly is beautiful and it inspires me to focus on small businesses and their owners who truly care about their business, their families, their community and the world. If you want to be involved or learn more, there is an E.F. Schumacher Society which is located in Great Barrington, Massachusetts.

Believers, Rebels & Competitors

Neanderthals at Work: How People and Politics Can Drive You Crazy…and What You Can Do About Them by Albert Bernstein & Sydney Craft Rozen, 1992. They have some great ideas on how to keep sane when people and politics drive you crazy.

Bernstein, a clinical psychologist,  has a website and still explores “Neanderthals” and other creatures. No offense to all the Myers-Briggs and personality test stuff out there, I just like this better. It’s fun, witty, and very different as you would imagine from the title. Other people may find it too simple.

This book  helped me look at my past and current customers – not just employees. It helped me understand me. I am a Believer – as are most small business owners who are active in their business. It helped me help other owners because the traits they discuss, once you know them, are easy to spot. BTW, it is good to match what  kind of Neanderthal you are to who you sell to and who you hire. I find hiring a “Competitor” or having one as a client is usually not a terrific idea.

I do admit, as someone with the same business partner for 27 years, I have often wondered what happened to Rozen, the co-author. Looks like she has gone on to write some interesting books for families.

Why small business matters

Big-Box Swindle: The True Cost of Mega-Retailers and the Fight for America’s Independent Businesses by Stacy Mitchell, 2006, shows why we should try to keep every community weird.

Mitchell is the inspiration for many Big Box Ordinances around the country including Austin’s which took TWO YEARS to get through City Council and almost did not make it. She came and spoke here a few years ago at an event sponsored by Austin Independent Business Alliance. She is terrific in person and in print.

Her research in Big Box Swindle on the impact on communities when mega stores move in is eye-opening, jaw-dropping and blood-boiling. She tells it like it is: the good, the bad, and the exceedingly ugly. For small businesses who try to sell to these companies like WalMart, the results can be devastating. For small businesses in the shadow of them location-wise, with some exceptions, it does not mean better sales or even more sales. It usually means a slow death.

She has a great website full of ideas of what to do when faced with this and a terrific newsletter to keep us all connected.

There is a story behind this book. I bought it from BookPeople, our independently owned bookstore in Austin. It was signed and autographed by Ms. Mitchell. I was proud to have it.

As the Business Liaison Chair for Responsible Growth for Northcross, I carried this book everywhere. When I went to speak on behalf of the Big Box Ordinance in Austin, I carried it. Our goal was to get Council and citizens to see that a huge Walmart Supercenter store placed on neighborhood streets, across from a school, was not good for community development or retention.

We lost in court but WalMart did decide to scale back to only 90K feet from about 200K sq feet. We will have to live with it but thanks to Mitchell we knew how to fight and not lie back and take it and how to protect our neighborhood and our businesses. We also know now what to watch for as the project goes forward and we have a strong network. Most importantly, I think, it brought five neighborhoods together with the area businesses and it pushed us to request the creation of  the Northcross IBIZ (Independent Business Investment Zone).

The tragedy for me is that somewhere along the line, someone picked up my book. I only hope they find it as inspiring as I did. Hopefully, I will get another copy and maybe Ms. Mitchell will sign it.

More of my book recommendations are  located in the “Worth Reading” widget on my blog. I update it periodically when I am inspired. Do you have a book I should add?

What “oldie goldies” are on your shelf? Have you told someone else about why they matter at least to you? Pass on the wisdom. We need all we can get.

Be sure to watch my Tweets for date and time of when I am freecycling some of my business library. I just hope they will inspire you and you will give them a good home until you pass them along.

15 Reasons to Change the Date of Thanksgiving

Thanksgiving in Canada is held on the 2nd Monday. Maybe we should, too.

I love Thanksgiving but it’s got to go. Let’s do something about it now while there is a full year to get organized.

Here’s why: there’s just not enough time between it and Christmas. If you don’t celebrate Christmas, Hanukkah or other religious holidays in December, there’s not enough time between it and the end of the year because of the time taken up by all those other people who are celebrating.

Do you find yourself  agonizing over what to do?

• Get work done for pay or get work done to keep connected to friends and family. Shopping, decorating, and card writing is work, too?

• Focus on fun, family and friends, giving donations of time or money or both to causes we support or be professional and concentrate on end of the year business stuff – closing out the books, preparing for next year, making final sales quotas, finishing projects or reports?

What are the benefits to moving Thanksgiving?

Lots — for retailers, drivers, teachers, students, the community, the US government, airlines, therapists, police, tax collectors, November birthday people, environmentalists, even turkeys. They have economic, social, educational, and environmental implications. These benefits save and create resources that a November Thanksgiving does not provide.

  1. Black Friday would be earlier and retailers would have longer to make the year happier and more profitable.
  2. Capitalism would increase because more customers could visit more stores more often.
  3. Cities and states would get more sales tax dollars.
  4. It might ease traffic and reduce accidents on the streets and in and out of parking lots because there would be more time to shop instead of everyone trying to get around town at the same time.
  5. Government offices and agencies would have more staff available since everyone would not be on vacation basically from November 20th or so onward. That means they could get more done, spend more locally, and make their vendors happier.
  6. We would save energy because Thanksgiving travel would be at a warmer time of the year. Less delays, nicer weather. Airlines, trains, and buses would see their cash flow even out and not need to make their profit in 4 weeks.
  7. Teachers could get a break earlier to catch their breath after all the rush of getting school started.
  8. Students would love getting two days off sooner.
  9. People born around in November would have a birthday that was just for them and not bracketed by another event. As one of those, I am all for that.
  10. People would be happier and less stressful so there should be less need for therapists at this time of year. This would free those hard working psychologists, psychiatrists and social workers to be with their friends and their family.  That way, they would be happier and less stressed, too.
  11. There would be less bad behavior and violence in November since there’s no need to hurry through Thanksgiving to have enough time for Christmas or other holidays. This would free up the police or at least give them a break before holiday break-ins, shoplifting and New Year’s DWI’s.
  12. Turkeys would live longer. (As a vegetarian this is not very meaningful to me but I am sure it is to them.)
  13. I would get all my work done.
  14. My staff would be happier because they would have more time to get things done, too.
  15. My staff and I would not have to choose between our jobs and our families and friends — and neither would all those other business owners out there and their employees.

Who would like to move Thanksgiving? We all should.

Look at all the advantages. We could even bill this as the new way to improve the economy.

Moving it was not my idea but I think it is a good one. My friend Anne suggested it originally. Her comment came out of high frustration – too much to do and too little time. She says Thanksgiving is a harvest celebration. Her argument is November is not harvest time in most places. And, that’s true.

Who wouldn’t like it? Purists.

We change other dates. I know it would take a mind change and a few other things. Moving Christmas is out of the question. It would have more benefits than changing daylight savings time which is a made-up thing anyway.

How would we do this?

I suggest we follow the Canadians and put it in October. They follow plenty of American traditions. Turn around is fair play. (My friend Chris G. says they hold Thanksgiving in October because it is too cold to hold it later.)

No matter why they do it, I think it would be great. We would be ok if we held it in October – still on a Thursday following US custom, say mid-month, then we wouldn’t run into that other major holiday, Halloween.

What I say is “Go Cannucks!” October Thanksgiving here we come.

What do you say? Would you vote to move Thanksgiving?

Thanks Anne for a wonderfully inspiring idea.

Before I start a petition, find a sponsor for a Constitutional amendment or set up a PAC, I want to hear your comments and opinions. I really do.

Do you have another suggestion on how to survive during this time of year and not start the new year exhausted?

Photo courtesy of ryanjunell.

Bloggers Helping Bloggers

secret-cabal-logo1I think I am pretty organized. I think I am disciplined. But, boy oh boy sometimes I need a little help from my friends.

Especially when it comes to blogs. I don’t know about you but I sometimes get writer’s block when it comes to blogs. Or I get started and then get pulled away to do other critical things. So I have several half done that I  really want to finish.

My friend Julie Gomoll and I decided to do something about that for others like me. We are co- hosting our first blogging party get together to “get one done and posted” this coming Tuesday, Dec. 21, 2-4pm at our BSC (Business Success Center) offices Chase Bank Blg 7600 Burnet Rd. We are located across from St. Louis Catholic Church/cross street is Northcross Blvd – go in the tower, not the bank.

The goal: to inspire each other and other fellow bloggers. The clublet is called The Secret Cabal of Bloggers. Click for more info and register at EventBrite.

Bring your laptop and we’ll provide munchies. Walk away with your next post and new friends.

No charge. Not a class. Only requirement is your willingness to share ideas, support and encourage others. “It can take a village of business owners to finish a blog.”

We hope to make blogging fun again.

Hope to see you there.

Here’s to our success!

Small Business IS an Economic Stimulus

TxFlag-1The most current LMCI numbers from Texas Workforce Commission for small business ownership in the Austin – Round Rock Metropolitan Statistical Area or MSA (which actually goes from Georgetown to San Marcos) are encouraging. As of the latest data (March 2009), these micro businesses, businesses under 20 employees, represent 86% or more than 29,500 firms and the number continues to grow. (BTW, there are only 169 firms with over 500 employees in this same area.)

This is not unusual. When people get laid off sometimes their only option is to create a job for themselves by starting a business. And the Austin area has been extremely supportive of this. As a matter of fact, it has been used as a major way we have been able to work ourselves out of recessions – six that I know of since we started in 1982.

Starting a business can be easy and tough. Easy because the person knows how to make the product or provide the service. Tough because that isn’t all they have to do now that this is their business. When they had a job, there were others to take care of all areas of the business that were not “their job”. As an owner, now they are responsible for everything including areas they may or may not have experience with or like to do. And, it can be rough going.

In tough times, existing small businesses can also have tough times because owners are not running them right either. They just go from project to project. They look at their check book to see if they made any money and they don’t fix the problems. They are too busy “making the donuts” to stop, really look at what is happening to them, and make adjustments. Or, maybe they are afraid to look because of what they might find.

The result for both startups and existing businesses can be missteps, missed opportunities or disasters. Failure rate (defined as closing the doors owing money to others) currently is running about 10-15%. Usually the causes are inadequate or incorrect financials and the negative impact  on marketing/sales. Not knowing the true total cost of overhead, not just the products and services you provide, means you under price and over promise. Or, worse you sell the wrong things to the wrong people. The last buggy-whip makers might have cornered the market when cars first became popular but they aren’t still around unless they watched and adjusted their financials as well as added other products or services.

Startups and existing small business owners must look at what they are doing and how. They must get and keep their financial house in order. Not just focus on getting more sales. Now more than ever, this is too important to let things go and just hope everything will turn out OK.

Seattle, WA Public Market began in 1907 is the oldest continuously operating market for small businesses

Seattle, WA Pike Public Market began in 1907 and is one of the oldest continually operated public farmers' markets in the United States. It is a place of business for many small farmers, craftspeople and merchants.

It is also too important to the entire community no matter where that business is located. Starting, retaining, and growing small businesses is the best economic stimulus for everyone.  Most new jobs come from those of us who own a small business. Most people returning to work or first time job seekers, start by getting a job with us. This is the way to create good wages for owners and employees. This is how yet undreamed of products and services are created. By the federal Small Business Administration‘s own research, small businesses are 10 times more innovative dollar per dollar than big business – why because we have to be. So, let’s get our act together. Our future depends on it.

Share your experience. What are you doing in your business to keep an eye on your true costs? What adjustments have you made or are you planning to make? What suggestions do you have for other owners?

Take Action: Keep up with current business trends by subscribing to LCMI. It’s free because your taxes have already paid for it. To receive their data on Texas and any MSA, send an email to lmci@twc.state.tx.us. It has terrific information on all sizes of business as well as employment numbers and trends.

Flag photo by: jstephenconn

Market photo by: kodama_atpl

Confidence Matters

ConfidencelifesaverLack of confidence robs us all of possibilities and a better future.

If you are feeling the sales pinch, maybe it is because you are not demonstrating your own confidence to others.

And, confidence comes first. Without confidence, there is no sale — whether it is healthcare reform, a home, car, job or whatever you have to sell.

I can  guarantee you, as a business owner who has been through 6 downturns, what goes down comes up (and vice versa).

There are plenty of books about why people buy. Some of my favorites are in the list on this blog.

But confidence is really “Job #1″. Why do you think the issue of consumer confidence is one of the top economic indicators?

What is The Conference Board saying right now? They see  a mixed bag.

This is the organization that disseminates information and analysis, makes economics-based forecasts and assesses trends including the Consumer Confidence Index©, Consumer Confidence Survey®, and Employment Trends Index (ETI)™.

Their Consumer Confidence Survey®, which is based on a representative sample of 5,000 U.S. households, showed a slight increase in August over July. (Read August 25, 2009 press release)

But according to their Employment Trends Index (ETI)™ September 8, 2009, press release, the  index now stands at 88.1 and is down 18.5 percent from a year ago.

“The flatness of the Employment Trends Index in recent months suggests that we won’t see job growth until the end of the year,” said Gad Levanon, Senior Economist at The Conference Board. “The fact that the index cannot get off the ground is another sign of a weak recovery, perhaps a jobless one.” (Read September 8, 2009 press release)

What can you do?

It is not enough to try to inspire confidence in your business and products or services, if you do not have confidence in others. Who have you recommended or referred people to lately? No one? That says something.

When you are not talking about your business and what you offer, do not make small talk about how “bad” it is. No fooling it is bad. Be constructive instead. What can you share that gives hope? That says something, too – about you and about possibilities.

What is your good news?

Mine is that my good friend is going to stop job hunting and start the business she always wanted to. She will be telling the story of some remarkable women and in the process setting the record straight while making us all feel better and healthier. I can’t wait.

Go, Toni!

Hidden Management Gem

Austin History Center

Austin History Center

What’s a hidden business gem? One that makes you feel powerful, all knowing. One that you love to tell those special peers about so they can be part of the inner circle. I have one I want to share with you.

Mine is the Austin History Center. Before you say “Huh?”, this is not a museum although it has exhibits. It is not just about Austin because it has materials — particularly papers — that go beyond Austin, Travis County, or Texas. It is not a library although it has books. And maps, family archives, newspapers — over 1 million items of primary research and published documents from Austin’s founding through today. It is considered one of  the US best archival libraries with great archivists to help you find what you did not know even existed.

Inside the Austin History Center

Inside the Austin History Center

Take some time to explore what it can do for you as an Owner. It is a great “center” of business information because if there is a study or report on Austin, chances are they have it. You can read it for free. You can even copy it but you can’t take it out.

And, it’s a great place to keep up with what’s happening in local government since City Council minutes and other documents. See what everyone REALLY said, promised, etc.

Want the inside story on a local business? They probably have a file on it. Many of us insiders recycle our papers by giving them to the AHC as well as those brochures, white papers etc. we have gotten from you over the years at trade shows, in the mail etc. You can discover a wealth of information there and make your own contribution to the “business history of Austin”.

Of course, it has great information about the people of Austin and who’s who or who was who. If you are new to town, you can set up a score card to keep track of everyone you need or want to know. So, great networking info here. For first hand contacts and preserving Austin consider joining The Austin History Center Association. Nice people and important work.

There is history here of course. This was originally a Carnegie Library and Austin’s first library. Go on the behind the scenes tour for the scoop. And, check out the photo lab. Many of the pictures of Austin you see in the Austin American-Statesman and elsewhere are courtesy of AHC. You can even order some for your office or store – extremely reasonable and unique.

And, if you are into Christmas and model trains, it has been my favorite place for getting into the holiday spirit. (They usually set aside a Sunday after Thanksgiving for the public to enjoy music, decorations, goodies, and meeting railroaders. Hopefully, the economy won’t get to them this year!)

Austin History Center
810 Guadalupe St
Austin, TX 78701
(512) 974-7480

Monday, closed | Tuesday-Saturday, 10 a.m.-6 p.m. | Sunday, 12 noon-6 p.m.

Watch the KLRU Downtown video about the Austin History Center.

What is your favorite business gem?