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EntrepreneurshipWeekUSA Solving Business Failures By Asking the Right Questions

Posted in Entrepreneurs by admin on the February 24th, 2007

MySuccessGateway.com Top 5 Tips For Successful Entrepreneurship

1) develop a strong private network
a. Get a Mentor/Coach (preferably more than one)
b. close friends
c. close business associates
2) develop a stronger extended network
a. chamber of commerce
b. associations
c. face to face networks
d. learn from guru’s on MySuccessGateway.com
3) listen to the network
a. learn from their experience
b. compress time
4) develop a daily to do list of top 6 tasks for tomorrow
a. send to a buddy and keep each other accountable
5) follow through on your word to yourself, integrity
a. commit slowly, act readily
b. do not make commitments you can’t keep

David Meerman Scott Podcast Interview

Posted in Entrepreneurs, Small business information by admin on the February 23rd, 2007
This is a mandatory podcast for anyone or any business who has ever issued a press release or who has read a press release. David gives away the store in their interview. David discusses his upcoming book in June of 2007 called The New Rules of Marketing and PR: How to Use News Releases, Blogs, Podcasting, Viral Marketing and Online Media to Reach Buyers Directly. David will also point you to his free e-book as well. I can say that I learned a lot in this interview and I can’t wait to read David’s book once it comes out. Learn how David got over 200,000 downloads on his e-book. He says that in order to have a successful a web initiative we must have a detailed goal. David has defined his goal and he has the results; with book deals, site traffic and speaking engagements.

David makes the distinction between a press release vs. a “news release.” The name of the game is to focus on two objectives before you issue a “news release.” Number one, think about the buyers we want to reach, second think about the problems that they have or the problems they are trying to solve. This changes everything in the public relations world as we used to know it. In the case of the old rules, you have to write about your own product and the news surrounding it and in the new rules if you focus on the problems that your buyers have you will have much stronger results and David goes into details on how to make that happen. We even go into a MySuccessGateway.com case study.

David also gives the example of Cruisecompete.com an online travel agent with different cruises. They did a series of news releases using keywords that their buyers were looking for. For example: Their customers were searching on the following 3 keyword phrases; Thanksgiving cruise, Christmas cruise, and New Years Cruise, this is how their customers were looking for cruise information. They understood what their buyers were looking for by asking their customers. They interviewed their buyers and did their own research. They used Marketwire for their distribution. They inserted anchor text links for the phrases. (The phrases are in blue, and link to their landing pages.) Christmas Cruise for example was one particular landing page. Now they have moved people off of the news release on to their landing page. They went into search engine and they inserted “new years cruise,” that is why they created an anchor text link for the phrase to drive the user back to the new years cruise landing page.

Because of news alerts, Web 2.0 people are beginning to write news releases designed to reach their buyers not just select journalists. We want to optimize the release for the buyers we want to reach. David asks again, “who are we targeting? What are the problems that our buyers have?” This is very different than what we have done in the past and what still 98% of people are doing today.

David tells me that the way I did my press releases was completely the old way and it is the way that 98% of the people still do it. Now is a time for doing it the new way, the new way gets results. Think of your buyers as you write the release vs. thinking of the press reporters. The old days you issued a release for news. If it is important to reach the media then send them an individualized pitch to an MSG market like Entrepreneur or Inc Magazine.

Interview with John Kerry, Chairman of Senate Committee on Small Business & Entrepreneurship

Posted in Secrets to Success by admin on the February 21st, 2007

He’s the guy who put the “entrepreneurship” in the Senate Committee on Small Business and Entrepreneurship. As committee chairman in 2001, Sen. John Kerry, D-Mass., had the name extended to reflect its broader sense of mission. Now, with the Democratic takeover of Congress, he returns to the helm, pledging to strengthen capital programs and other opportunities for small-business owners, while fighting to give them a fair shot at federal contracts — largely by preventing Coca-Cola, Microsoft, Wal-Mart and other large corporations from scooping them up.

http://www.foxnews.com/story/0,2933,252758,00.html

John Kerry Opinion Regarding Bush Budget and Small Business

Posted in Secrets to Success by admin on the February 21st, 2007

From corner stores to internet startup companies, small businesses are the backbone of the American economy. And, while Massachusetts small business owners have what it takes to keep our economy strong, they could still use a strong advocate in the federal government to make their case.

That is why we have a Small Business Administration (SBA), a federal agency specifically tasked with championing small businesses. But this year, the President’s budget offers little help for the SBA. Overall, they have cut the agency’s budget by 45 percent since coming to power in 2001.

 

http://wbjournal.com/j/index.php?option=com_content&task=view&id=1270&Itemid=128

Misc. Entrepreneurship & Small Business Statistics

Posted in Entrepreneurs by admin on the February 20th, 2007

Direct selling is serious business ($30 billion in the U.S.), and the country’s 14 million independent agents can make good money. Big names that will pay you to go door-to-door (but not for your gas) include health care companies like Mary Kay, Avon and Amway; house-wares companies like Home Interiors & Gifts and Carico; and financial services companies like Primerica Financial Services. A Primerica representative needs $199 to get started, while it only costs $10 to sign up as an Avon representative, though you’ll have to pay for catalogs and product samples. At Mary Kay, a starter kit costs about $100, plus shipping and tax, and includes product samples, brochures, catalog and trays and mirrors. Consultants bag 50% of every sale.
From Forbes.com http://www.forbes.com/2006/12/04/startup-disney-exelon-ent-fin-cx_mc_1201underfive_slide_5.html?thisSpeed=15000
Sales For Direct-Retail Companies
Start up’s on Fire
http://money.cnn.com/magazines/fsb/fsb_archive/2005/11/01/8360973/index.htm
CNNMoney.com:
Web sites seem the way of the world these days, but many small-business owners still don’t have an Internet presence.
Of the nearly 25 million U.S. small businesses, 46 percent do not have a Web site, according to the Kelsey Group, a research firm.
“Entrepreneurship is a driving force of the U.S. economy, with businesses less than five years old accounting for about 70 percent of all new jobs,” said George Adams, special projects manager for Discovery Park and organizer of Purdue’s EntrepreneurshipWeek USA activities.
3. How many small businesses are there?
In 2005, there were approximately 25.8 million businesses in the United States, according to Office of Advocacy estimates. Census data show that there were 5.8 million firms with employees and 18.6 million without employees in 2003,the most recent year with data. Applying the sole proprietorship growth rates to the nonemployer figures and similar Department of Labor growth rates to the employer figures produces the 25.8 million figure. Small firms with fewer than 500 employees represent 99.9 percent of the 25.8 million businesses (including both employers and nonemployers), as the most recent data show there are nearly 17,000 large businesses.
http://www.sba.gov/tools/resourcelibrary/Podcasts/index.html
Is Entrepreneurship for You?
Featuring Cheryl Mills, Associate Deputy Administrator
Office of Entrepreneurial Development
U.S. Small Business Administration
Each year more than 600,000 new businesses are started in the United States. Many will succeed while others fail. Find out if you have what it takes to be an entrepreneur and how training maybe be the key to success.
Women owned 6.5 million businesses that generated $940.8 billion in revenues, employed 7.1 million workers, and had $173.7 billion in payroll in 2002. In addition, another 2.7 million firms are owned equally by both women and men; these firms add another $731.4 billion in revenues and employ another 5.7 million workers
• Of the 23 million non-farm firms in 2002, 6.8 percent were owned by Hispanic Americans, 5.2 percent by African Americans, 4.8 percent by Asian Americans, 0.9 percent by American Indians or Alaskan Natives, and 0.14 percent by Native Hawaiian or other Pacific Islanders. In 2002, minorities owned 4.1 million firms that generated $694.1 billion in revenues and employed 4.8 million workers.
• Male veterans’ self-employment rates were higher than those of non-veterans from 1979 to 2004. The rate was 13.7 percent in 2003, compared to 12.2 percent for non-veterans.
• According to a study on veteran business ownership, about 22 percent of veterans in the U.S. household population were either purchasing or starting a new business or considering purchasing or starting one in 2004, and almost 72 percent of these new veteran entrepreneurs planned to employ at least one person at the outset of their new venture.

Sources: Final and preliminary data from the 2002 Survey of Business Owners from the U.S. Census Bureau; Advocacy-funded research by Robert Fairlie, Dec. 2004 (see www.sba.gov/advo/research/rs243tot.pdf); Advocacy-funded research by Waldman Associates, Nov. 2004 (see http://www.sba.gov/advo/research/rs242.pdf).;
William Dennis, senior research fellow for the National Federation of Independent Business’ Education Foundation, analyzes a survey of 36,000 households each year for the Wells Fargo/NFIB Series on Business Starts and Stops. The latest one, available on the NFIB’s Web site, www.nfibonline.com, reported that 2.9 million businesses were launched in 1997, involving nearly 4 million people. Another 1 million people purchased 700,000 existing businesses that year.
Distributed 2,000 “Educating Your Employees” toolkits consisting of a DVD, manual and issue one-pagers in an effort to reach the 41 million Americans who work for small businesses
From SBA. http://www.sba.gov/advo/research/rs286.pdf
The Small Business Economy
Signs of economic progress continued in 2005.
Three economic indicators key to an analysis of the
economy’s performance—output, productivity, and
unemployment—were up. Business starts totaled
671,800, above closures at 544,800, contributing
to a new high in employer firms of 5.99 million.
Nonemployer firms reached 19.86 million.;

    544 800 / 671 800 = 0.810955642
    More about calculator.

Women in Business
Research on women-owned businesses finds that
between 1997 and 2002, the number of womenowned
firms increased by 19.8 percent, and the
number of women-owned employer firms, by 8.3
percent. Women owned 6.5 million, or 28.2 percent
of nonfarm U.S. firms.
Education and Entrepreneurship: What is
Known and Not Known about the Links between
Education and Entrepreneurial Activity
Research on the impact of general education on
entrepreneurship suggests positive, but not linear
links. The highest levels of entrepreneurship
are found in individuals with at least a bachelor’s
degree. Research also suggests a link between entrepreneurship
education and venture creation.
http://www.bizstats.com/businesses.htm
http://www.census.gov/epcd/www/smallbus.html
http://www.score.org/small_biz_stats.html
Feb 07, 2007 Pricewaterhouse Coopers & International Coach Federation (ICF) survey. While the data and deep analysis hasn’t been released, the major bullet points were:
The highlights of the survey findings include:
The approximate annual worldwide revenue produced by coaching is $1.5 billion (USD).

  • Coaches earn an average of $50,510 (USD) per year.
  • 69% percent of coaches are female.
  • The average coach is 46-55 years old, has coached for 5-10 years, and 53 percent of coaches have acquired an advanced level of education (i.e., Master’s Degree or Ph.D).
  • The majority of coaches maintain 11 active clients at any given time.
  • Coaching clients tend to be 56 percent female/44 percent male, and between 38 and 45 years of age.

Sources: International Coach Federation, February 5, 2007 press release and Forbes.com, January 12, 2007
$1.5 billion in certainly an impressive standalone number. But is it cause for celebration?
Andrea states: “Side Note: One billion equals one thousand million or a 1 with 9 zeroes behind it. I had to look it up.”
Cute. But the question we should be asking is, “is that $1.5 billion NEW revenue for this new industry, or is a portion of it being reclassified now that coaching is recognized as a distinct industry from Training and Development.”
In other words, was a significant portion of that $1.5 billion classified in the $100 billion Training and Development industry in the past? Or, is it really revenue that companies and consumers are newly spending on coaching?
If you think about it, it makes a difference. If most of the $1.5 billion is just reallocated from one pot to another one, big whoopee.
The income figure requires some further examination as well. The ICF-sponsored survey of 6,000+ coaches resulted in an average coaching salary of $50,510, but averages can be misleading. Case in point: there are a number of coaches who are currently making in excess of 7 figures. Just ONE of those coaches is enough to offset 32 coaches making slightly less than $20,000 to give an average of $50,000.
http://www.columbian.com/business/businessNews/02182007news105745.cfm
Small business is at the heart of our state’s economy, says the Small Business Administration.
Businesses with fewer than 50 employees make up 98.2 percent of all Washington employers and employ 53.4 percent of the state’s non-farm private-sector workers.
Washington’s 561,300 small businesses are located in every community and neighborhood. About 53 percent are home-based. Last year, Washington saw an estimated 30,353 new small firms with employees start up. The SBA says small businesses create 65 percent or more of America’s net new jobs.

Nationwide, the prison population hovers at almost 1.6 million, which surpasses all other countries for which there are reliable figures. The 50 states last year spent about $44 billion in tax dollars on corrections, up from nearly $11 billion in 1987. Vermont, Connecticut, Delaware, Michigan and Oregon devote as much money or more to corrections as they do to higher education.

Pat Ryan, CEO, Founder of AON Video Interview

Posted in Personal Development by admin on the February 17th, 2007
In a keynote address at the U of C’s Gleacher Center, Patrick Ryan, the executive chairman and founder of Aon Corporation, talked about the role four factors — refreshing leadership, selective recruiting, bias for action and customer centricity — played in his success.

The occasion for the speech was the GSB Alumni Entrepreneurship Conference held Thursday, Nov. 30. The event highlighted recent research conducted by The Polsky Center for Entrepreneurship and the Market Strategy Group that identified these four factors, all of which are critical for entrepreneurs in overcoming growth plateaus and sustaining success.

Patrick G. Ryan is executive chairman and founder of Aon Corporation, a global leader in risk management, reinsurance and human capital consulting. He started as an entrepreneur and founded an insurance agency, which grew to become Aon. Ryan has been chairman of Aon’s Board of Directors since 1990. He served as chief executive of Aon and its predecessor company from 1964 to April 2005.

College Of Entrepreneurship To Offer Scholarships To Low Income Students Seeking To Start Their Own Business

Posted in Entrepreneurs by admin on the February 12th, 2007


PHOENIX, AZ., January 16, 2007 — The College of Entrepreneurship at Grand Canyon University will begin offering full scholarships to low-income high school students seeking to start their own business as part of its commitment to EntrepreneurshipWeek USA, a national effort to inspire and encourage young people to consider entrepreneurship as a career choice, while helping celebrate America’s unique culture of inventiveness.

The first and only fully accredited nationwide college devoted purely to the study and practice of entrepreneurship, the College of Entrepreneurship (CoE) has initially teamed with the National Foundation for Teaching Entrepreneurship (NFTE), to provide six four-year scholarships valued at $372,000 to students participating in NFTE youth entrepreneurship education programs.

http://www.entrepreneurshipweekusa.com/newsroom/releases/070116.asp

User Interface and Customer Experience Expert Interview

Posted in Your Success is Our Success and Our Mission at MSG by admin on the February 10th, 2007

We just posted an interview with Harley Manning of Forrester Research.A

Harley Manning leads Forrester’s research into how to create a great customer experience and how to determine the business results produced by a great customer experience. His team covers topics ranging from organization, culture, and process issues, to analytics and testing tools. Harley’s personal coverage areas include Web site design, persona development, design agencies, Web site reviews, brand image reviews, and cross-channel reviews.

http://www.mysuccessgateway.com/guru/guru.php?id=28

Free SalesDogs Secrets Training Tele-seminar

Posted in Entrepreneurs, Small business information by admin on the February 9th, 2007


In all of my experiences of working with individuals and businesses around the world, the message is clear. In order to be rich and to succeed in business your number one skill is your ability to communicate, sell and teach others how to sell. Secondly, to build a successful business you have to know how to build a championship team that can win- no matter what. Having helped increase the revenues of companies and individuals all over the world through giving them the secrets to implementing those critical components, I now want to share those secrets with you.

I am committed to teaching more of the secrets typically kept under lock and key. On the evening of Wednesday, February 21st, you are invited to learn methods that boost your income, create winning teams and accelerate your goals by unlocking the power of sales.

Do you have a scheduling conflict? No problem, get registered now anyway because if you do, you’ll also get free instant access to the “Tested Methods To Unlock The Power Of Sales” recording. Then you can revisit the important content over and over again! Click here to register.

Be Awesome!

Blair Singer

SalesDogs

www.salesdogs.com

23 Ways to drive traffic to your blog

Posted in Success tools by admin on the February 8th, 2007

Over the weekend I ran an ‘open mike’ discussion which asked the question of How do you find Readers for Your Blog?

There were quite a few responses to the question – some of which went a little unnoticed as they were moderated until I got home. So I thought I’d summarize some of the main themes that arose in the discussion with a few quotes from those who left comments.

For the full series of comments see the post – but here are the main themes listed in no particular order except that they are vaguely the order that people submitted them in (keep in mind that these ideas come from readers – not all of them will be for everyone):

1. Comment on Related Blogsraising4boys writes – “Commenting on related blogs is probably the most effective strategy early on in the process. And responding to comments when people leave them on your blog (this encourages them to keep coming back).” And from Brody – “I visit other blogs in my niche, add them to my feed and participate in the discussion on their blogs via the comments. Writing interesting comments often gets people to click through to see your site.”

2. Join Forumselprezidente writes – “I’ve found that one very quick way to infuse readers to a new blog is to be active in discussion forums related to your blog topic. Locate posts that ask for help with something you are familiar with and share your experience.”

3. Write Effective Post TitlesAziz writes – “Simple and to the point. The title should create an instant urge to read the entire post… But of course it should be related to the topic of your blog”

4. InterviewsOllie writes – “One example being to interview fellow bloggers who are in the same niche as me. This has gone down well, and has been great for both myself and the interviewee as traffic flows between us.”

5. PersistDan Norman writes – “Persistence is key. After starting up a new blog last month and letting go of another this month, I notice that traffic (quality traffic) doesn’t happen over night. On my last site, I think it took 6 months before ASK.com found me.”

6. Connect with Local BloggersRob O writes – “The other thing I’ve been doing just recently is connecting up with other bloggers in my city and the neighboring towns. We’ve got something of a link exchange going and a nice side-effect to this is that I/we have discovered that there are quite a few more bloggers and/or website authors in the area than ever expected.”

7. Give Away Free StuffPeterandrej writes – “I’ve had some success with giving away free stuff, like free templates for WordPress. It doesn’t give me lot of new readers, because my blog is written in Norwegian, but the templates give lots and lots of new links to the blog, giving it a much better pagerank in Google, which in turn should mean more readers from search-engines.”

8. Be OpinionatedTrent writes – “Be opinionated, but encourage opposing viewpoints in the comments. Opinionated makes you interesting – encouraging other perspectives makes you essential.”

9. Ask Questions of Other BloggersTrent also writes – “Ask questions of other moderately successful bloggers and try to network. If you shoot too high, you’ll often get blown off because these people have so much stuff to read and deal with.”

10. Use TrackbacksMaki writes – “Sending highly creative and penetrating trackbacks about a blogger’s original post.”

11. AdvertiseMike Panic writes – “Buy advertising space on related websites.”

12. Educate Readers about RSS - Mike Panic writes – “With the most recent blog I launched I created a page in WordPress called Feeds which not only has the RSS icon on it but a description of what a “feed” is and what are some of the most common ways to subscribe and use feeds, mostly pulled from a CC article.”

13. Offline Promotion - Mike Panic writes – “Talk to friends, family and coworkers about them… you’d be surprised how much the traditional way of “networking” really does work…. also Business cards, depending which blog I’ll post on a community board at a grocery store.

14. Search Engine OptimizationMichelle writes – “Properly optimizing my blog has been a big boost to my readership. Once I figured out how to play around with SEO I started getting a regular 25-35% of my hits from Google.”

15. Quality Content (mentioned by many) – ilker writes – “Posting only quality content.. obviously! Better posts are discussed more, increasing both the number of comments and references in other blogs.”

16. Blog CarnivalsSlade writes – “submitting posts to Blog Carnivals”

17. MemesLeanne writes – “I’ve picked up a handful of wonderful friends and readers through initiating the “Thursday Thirteen”. Yeah, a meme. Bloggers want to know about bloggers, not just the business aspect of it but the *person* writing the blog. Reading a quick list of “getting to know me” type tidbits gives me instant inside information on whether or not I will become a regular visitor. Some participants have used it solely to gain business, but frankly I think that turns people away. People are interested in people first, and what they do second. It works.”

18. Frequent Posting - baggage writes – “I also try to post frequently. I find that the more I post, the more readers I have. The less comments, but the more readers.”

19. Guest BloggersRandom Good Stuff writes – “I invite other bloggers to guest blog and allow always one link back to their site. I have 3 active guest authors … and in return they link to my site from time to time.”

20. Get Links from Other BlogsJamdo writes – “Getting mentioned on other sites and blogs in the same niche, I think, has been the best way to get a readership who keeps returning to a blog. Make contact with other bloggers in yoru niche via comments, email, AIM, skype, homing pigeons – whatever.”

21. NewslettersAdrian writes – “The Zookoda newsletter provides nice spikes and people tend to forward the newsletter to their friends.”

22. Social NetworksIlya writes – “Submit your story to Digg and reddit and, regardless of whether it makes the front page or not, you get 50-100 free hits. The easiest way to generate quick exposure. Failing that, comment frequently on blogs that you like. With any luck, the blog author will want to find out more about you, follow the link to your blog, and perhaps write a post referencing one of your posts.”

23. Pitch Your PostsMarty Weil writes – “I view other bloggers as a PR pros view journalists working in traditional media. I reach out to bloggers using tactics successfully employed in the world of professional media relations. For instance, I “pitch” specific posts that they might find adds value to topics they are writing about. I also send email introducing them to my blog, but only if there’s a good fit between my blog and theirs. The key is to be very selective in approaching the “media gatekeeper”–just as successful and smart media relations people do.”

How do you find Readers for Your Blog? – Open Mike

I’m heading away for one night as part of our long weekend here in Australia for Australia Day and so thought it might be time for a reader discussion on the topic that everyone seems to be asking me about these days – ‘how do I find readers for my blog?’

Share you own experiences and tips on how you’ve drawn readers to your blog.

What’s worked for you?
What hasn’t worked for you?
What would you recommend for someone just starting out in blogging who has no readers?

Looking forward to reading your responses when I get home tomorrow.

Have a good weekend!

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