Disaster Preparedness For Your Small Business: How To “Weather” Any Storm

In the event of a potential disaster, do you have a business continuity plan for your employees and your business? Are you backing up files on a routine basis, and could you recover them in an emergency?

On average, nearly 60 percent of businesses damaged in a disaster close after a year, according to the Association of Small Business Development Centers.

Last year’s devastating hurricanes heightened awareness of the importance of disaster planning for businesses, large and small. But destruction of your company’s infrastructure is not limited to natural disasters-it can happen anytime. Daily misfortunes like computer crashes, network breakdowns, and power outages threaten your business each and every day.

Having weathered four major hurricanes last year alone at its corporate headquarters in South Florida and across nearly 100 stores in the Gulf region, Office Depot has real-world experience in disaster planning and recovery. To help businesses be more prepared, the retailer has compiled “Disaster Preparedness: Advice You Can Depend on to Weather Any Storm.”

“A sound contingency plan can enable your small business to respond effectively to a crisis, and prevent that crisis from becoming a full-fledged disaster,” said Tom Serio, Director of Business Continuity Management for Office Depot.

According to Serio, the overarching principle in disaster planning and recovery is to protect your most valuable and irreplaceable assets: your people and your data. Among the guide’s other recommendations:

• Keep contact information for employees and local emergency services, as well as key vendor and supplier information, updated and easily accessible. Establish a clear process for communications and plan how you will contact one another in different scenarios.

• Protect your business from faltering after a disaster by backing up key data at least once a week. Copy data to removable media, including DVD-R or CD-R discs, or to removable drives such as the Ativa McAfee Flash Memory Drive with anti-virus software.

• Move back-up software to a secure off-site location. Store copies and documents you use in day-to-day operations in a secure and fire-proof location like the Sentry Fire-Safe Electronic safe.

• Periodically review the data being stored on any back-up systems to ensure that the right data is being copied and that it can be restored.

A small business owner can contribute to a society in many different ways. By selling a product or service to its customers, a small business is really enriching the life of many citizens. In this way, a small business acts as the motor to a vibrant economy. Running a business can be a very rewarding way to make a livin. While it can consist of many hours of work, it can give an individual pride in what they are doing. This pride can result in a strong sense of motivation. When you are providing a great service to the public, you want to keep working hard so that more people can experience what you have to offer.

A small business is rewarding because you are in control. You have the ability to manage the day to day operations of the business because it is relatively small. A small business does not have to deal with the problems of larger companies. Larger companies lack autonomy and have a complicated chain of command. Some employees might not know who to turn to in times of trouble. In a small business, all these problems are quickly alleviated. All the workers know who to turn to when a problem arises and this leads to a more smoothly run business.

Operating a small business can be very profitable. Many of the costs associated with a large business become obsolete. You don’t have to worry about paying many different individuals. Sometimes one or two individuals can run the whol store. For this reason, it can much simpler than running a large business. The customers get familiar with the staff and are happy to come back time and again. This loyalty is missing in many large companies, but in a small company the customer feels like family. By keeping this friendly atmosphere, your sales can see tremendous growth year after year.

Looking for a serious investment opportunity? You may want to consider buying a small business in the United Kingdom. There are several ways to turn a good profit in small business, but there are some important things to keep in mind if you are looking for an investment opportunity, especially if you are an investor from the United States, Canada, and elsewhere.

Any investment opportunity naturally comes with some risk. Foreign investors will need to calculate an additional variable when figuring up the possible amount of profit margin, loss ,and potential for both, as well as the exchange rate. How well is your currency doing against the British Pound? Be sure to include some wiggle room in your budgeting for fluctuations in the exchange rate.

For those already living in the UK, concerns such as taxation and local regulation are familiar topics. To those in overseas locations, its important to look up the laws of the land pertaining to your type of business, the taxes for which you will be liable, and how to properly account for them. This may seem elementary to those with experience in putting money into an overseas investment opportunity, but for the first-time investor in a UK small business, there are many laws and policies that might surprise you. The key is to do your homework, get the advice of a good UK legal expert, and be prepared for a new and different way of doing business.

If you want to buy a small business in the UK, its good to do a bit of research into the type of business you want to use as an investment opportunity. Are there ways that you can expand the business onto the Internet? Can the Internet be a help to you in increasing sales, market visibility, or media awareness? All of these factors are important to keep in mind. The most successful small businesses are the ones whose owners know how to take advantage of the Internet, while still meeting local needs and demands with speed and precision. Its not so different than doing business anywhere else in the Western world. Its important to understand how the buyers in your area of the UK respond to and utilize the Internet when it comes to commerce.

Youll also want to give your competing businesses a good hard look to see how they are using the Internet. Are you thinking of investing in an already crowded market? If so, youll need some fresh ideas to give your version of the business a new approach so that you can set it apart from the competition.

A UK investment opportunity in small business may bring some unexpected surprises if you are considering investing in a rising star business. For example, twenty years ago, nobody had ever heard of a cyber caf. Today, cities are full of places that offer Internet services, games, coffee, and more for a price. This concept has become a very important part of many communities. Those who took the initial risk a few years ago, putting money in what they saw as a good investment opportunity, are reaping their rewards today.

Those who buy a small business in the UK often find that the investment opportunity is well worth the risks. With some research, a bit of financial planning, and the expert advice of a UK legal advisor, you can turn a potential opportunity into a major success. If you are living in America, Canada, or elsewhere, you owe it to yourself to pay a visit to the United Kingdom to see for yourself just what kinds of investment opportunities await you there.

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News reports often tell of the struggle to lift Africans out of poverty. One entrepreneur is doing her part to bring hope to that continent through a business endeavor that is now bringing its products to the world market.

The desire to help others is what originally led South African Elmare Lombard to leave her successful psychological practice after 15 years to start a natural aromatherapy line.

From experimenting with essential oils and plant-based oils in her kitchen to eventually seeking international markets for the line, Lombard has made her dream a reality today. Her Molo Africa line is now being distributed in the U.S. by BioPharmetics Inc.

But her company, founded with family members and community leaders, also helps establish farming projects for disadvantaged people in her native South Africa. Molo Africa has a proactive employment policy that helps single parents get jobs with the company or affiliated businesses. This initiative is designed to promote self-sufficiency and brings a sense of pride for individuals.

Molo Africa supports the independent farmers of Africa through advice and assistance; the purchase of raw products at fair market prices; and through education initiatives that help impoverished South Africans develop skills in agriculture, basic education, entrepreneurship and computer training.

The company’s product line includes pure essential oils, natural aromatic room sprays, massage butters, shea soaps and scented candles. Molo is an African greeting meaning “hello.” Bearing evocative African names such as “Hamba Suka” and “Sefako,” the products contain essential oils that were extracted from exotic plants farmed and processed naturally in African countries.

Gertrude Mewy is an example of the kind of success story Lombard’s company helped to create. The single mother from Guguletu, Cape Town, was raising her four children on a small salary as a domestic worker. But she dreamed of being an entrepreneur. With the help of the Foundation for Economic and Business Development, she started her own pottery business.

Her hard work paid off when she became a supplier of ceramic beads to Molo Africa. Its contract with Gertrude enables her to employ two full-time workers, both of whom are single mothers. Her business now supports nine people and there are plans for more business deals between Gertrude and Molo Africa.

In the beginning, I thought it was going to be a breeze when my husband, Terry, joined me working full-time in my business. If anyone could do it, we could! We already had a healthy relationship built on trust and respect. We communicated well. We both strongly believed in what we were doing. We understood the need to help each other with the children, keeping the house, and with the business. We planned to allow for fluctuations in income to keep stresses over money to a minimum. Yet I still wasnt prepared.

For anyone considering working with your spouse, here are 3 Essential Boundaries for Entrepreneurial Couples to help to ease your transition:

1. Clarify expectations for workhome.
Nothing can prepare you for the blurring of boundaries and turf that occur as you transition into working together. When you join together with your spouse, most likely, both of you have experienced success throughout your careers, and have developed your own working style. Suddenly you have a whole new dynamic in your relationship with your spouse you must learn to work through. I always knew that we had different gifts and talents: Terry is very techie and he loves to write, and I am a people person who is an administrative whiz. Even though I should have probably seen it coming, I was still surprised at the difference in our work styles. I multi-task all day long, and he prefers to work on one project at a time. Just like being newlyweds all over again, we had to put some effort into getting to know each other on a whole new level to be able to work well together.

Beth Butler, creator of the Boca Beth Program has some helpful tips for clarifying expectations with your spouse. I make us lunch each day and we try to talk about BOCA BETH items that are pressing. It’s our time to reconnect – he works from home for the wine company he represents and I work from home sharing my passion for second language learning with young children. A funny mix, but it works! We talk about what each of us has planned the next day so there are no surprises – and I use that time to ask for his help. I can’t expect him to guess what I need so I have learned to be very specific.

2. Schedule time for love.
Most entrepreneurial couples complain they have less time together than before. It is possible to work beside your spouse in the same office all day long and barely speak on a personal level. How difficult is it to turn off your cell phone and talk a walk with your love? It is imperative to make it a point to schedule time for your relationship so that the business does not overtake it. Terry and I plan ahead to sneak away for lunch or to take a break at Starbucks. We have found if we dont take the time to schedule in these lunch or coffee dates, then they are less likely to happen as we work to meet deadlines or get a project done. We havent yet been able to master scheduling regular dates, but its next on our list of priorities in order to help keep our close relationship.

3. Schedule time for yourself.
It can be a shock when you suddenly have so much time with your spouse. In your previous life, they left at 7 AM and came home at 6 PM, and then you discussed your day during dinner. Now you spend most (if not all) of the day with them, and during dinner, there is nothing new to discuss. Where is the time for you? Karyn Fagan, Founder of Team Women, tells We both have hobbies that we love outside of the house so we have that important away time.

Terry and I certainly have a long way to go as an Entrepreneurial Couple, but we have made it through our entrepreneurial honeymoon period. Each day, we work together to reach our goals and dreams. We understand when we help each other we will reach our dreams sooner, so we help each wherever its needed!

Over the years countless institutes and individuals have asked the million pound question. What makes an entrepreneur an entrepreneur? What traits or characteristics are inherent to a successful entrepreneur and is one born with those traits? Theres great news! Successful entrepreneurs are born every day!

Some people believe an entrepreneur is born while others believe an entrepreneur can be taught. Some believe an entrepreneur is like an artist – either you have it or do you dont. Some see entrepreneurs as leaders that are focused, disciplined, competitive, and charismatic, while others see them as huge risk takers. And all of these analogies are right to some degree.

Its true all successful entrepreneurs share a few qualities and skills that allow them to be successful. These inherent qualities can be taught; but they often seem to be an inherent driving force that sends individuals down the path of being in business or formally training to for a career in business.

Entrepreneurs see the world differently. They have the ability to see the world as a system. They have the ability to see something in its entirety and as an integrated unit, and they seem to possess the ability to see opportunity within the global picture. They are what is called a system thinker.

There are other characteristics they possess. Entrepreneurs possess an overpowering need to achieve and tend to be very competitive against themselves. They are continuously trying to outthink themselves and others and they are constantly looking for the edge. This is a process that occurs as naturally as breathing and is a driving force behind most entrepreneurs.

They have the determination and dedication to follow through with commitments and they always appear confident and in control. Youll notice they also possess a positive atmosphere. They are of the mindset I can, and I will. They are not afraid of failure because failure is not in their vocabulary nor is it an option.

They are objective but have the ability to weigh risks realistically within the big picture. They have an uncanny ability to anticipate developments which gives them the edge on many competitive situations. Entrepreneurs seem to feel right from their gut, call it instinct. They are a resourceful group that possess excellent problem solving skills and are able to diligently work through obstacles as they occur.

Entrepreneurs are excellent communicators and recognize how important clear and concise communication is to their success. They also possess a sound working knowledge of the business they are involved in.

When it comes to successful entrepreneurs its a question of what came first, the chicken or the egg. Is it inherent qualities that we are born with that lead us to be entrepreneurs or is it when we choose to become an entrepreneur that we develop the skills and qualities of success? Thats a question we shall leave to the great debaters to resolve.

What is for certain is that successful entrepreneurs are born every day and that you too can be a successful entrepreneur by developing the skills of success.

Studies have shown that successful business entrepreneurs possess these characteristics:

1. Self-confidence

This is that magical power of having confidence in oneself and in one’s powers and abilities.

2. Achievement Oriented

Results are gained by focused and sustained effort. They concentrate on achieving a specific goal, not just accomplishing a string of unrelated tasks.

3. Risk Taker

They realize that there is a chance of loss inherent in achieving their goals, yet they have the confidence necessary to take calculated risks to achieve their goals.

Business entrepreneurs are people who will make decisions, take action, and think that they can control their own destinies. They are often motivated by a spirit of independence which leads them to believe that their success depends on raw effort and hard work, not luck.

So which of these three main characteristics is the most important? Believe it or not, it has to be self-confidence. Without self-confidence, nothing else is possible. If you don’t believe in your abilities, then the first challenge that arises may knock you off the path to achieving your goals. Here are a few things to keep in mind for maintaining a higher level of self-confidence.

Positive Thinking

Well, it all starts with a positive attitude, doesn’t it? Believing that something good will happen is the first step. Negative thinking simply is not allowed. You must truly believe that there are no circumstances strong enough to deter you from reaching your goals. Remember too, that positive thinking can be contagious. When positive thinking spreads, it can open doors to new ideas, customers, friends, etc.

Persistent Action

Now all of the positive thinking and believing in the world is useless if it is not applied towards a goal. You have to take action, no excuses are allowed. This action must also be persistent. Trying once and then giving up is not going to be enough. Keep at it one step at a time. If you can’t get by a certain step, then find a creative way to try again or just go around it.

At the beginning of this article we identified a few traits that are common among successful business entrepreneurs. You should be able to look ahead and see yourself where you want to be. Now just maintain a strong belief in yourself and your skills, stick with it, and don’t give up. If you can do that, you’re already half way there!

Sales Strategies for Entrepreneurs: The #1 Way To Skyrocket Your Sales This Year

Completely grasp the power of the Best Buyer Concept and you will double your sales within the next twelve months. The concept is easy to understand, yet powerful: There’s always a smaller number of ideal buyers, compared to all the possible buyers, so ideal buyers are cheaper to market to and yet bring greater rewards.

A magazine used this strategy to double sales in 15 months flat. Here’s what they did:

They took a database of 2200 advertisers and sent promo-pieces to them each month. After learning this
strategy, they did an analysis and found that 167 of those 2200 advertisers bought 95% of the advertising in their competitor’s magazine.

This concept is called “The Dream 100 Sell,” a concept where you go after your “Dream” prospects with a vengeance. This magazine sent the 167 (best buyers) a letter every two weeks and called them four times per month.

Since these were the biggest buyers, the first four months of intensive marketing and selling brought no actual reward. In the fifth month, only ONE of these Dream clients bought advertising in the magazine.

In the sixth month, 28 of the 167 largest advertisers in the country came into the magazine all at once.
And since these are the biggest advertisers, they don’t take quarter pages and fractional ads, they take full pages and full color spreads. These 28 advertisers alone, were enough to double the sales over the previous year. The magazine went from number 15 in the industry to number one in just over a year.

Lesson learned: Market to your best buyers

Now you’re probably thinking to yourself, who are my best buyers? If you sell to the business-to-consumer market, chances are, your best buyers live in the best neighborhoods.If you are a dentist, accountant, chiropractor, R.E. Broker, financial advisor, restaurant, or even a MLM professional you should consistently go after the folks who live in the best neighborhoods.

They are the wealthiest buyers who have the money and the greatest sphere of influence. If you send them an offer every single month without fail, within a year, you’ll have a great reputation among the very wealthy.

If you sell to the business-to-business market, it’s usually fairly clear that your best buyers are the biggest companies. So what are you doing, every other week, no matter what, to let these companies know who you are?

There’s no one you can’t get to as long as you constantly market to them, especially after they say they’re not interested. People will not only begin to respect your perseverance, they will actually begin to feel obligated.

This doesn’t happen right away, but even the most hard-bitten and cynical executive or prospect begins to respect you when you refuse to give up. The publication I mentioned earlier went on to double sales two more years in a row. They consistently marketed to the best buyers and much more aggressively than they did to the rest of the buyers.

A company selling to manufacturer’s used this strategy to target the 100 biggest manufacturers in the country. For the first three months no one responded to any of the calling or phoning.

But after three months executives started saying: “I just have to meet you. I’ve never had anyone continue to call me so many times after I said no.” Within 6 months they had gotten in to
see 54% of those they targeted.

The secret is to NEVER give up.

Just keep going after those companies again and again. Or if you sell to consumers, commit to sending a promotional piece every single month to those wealthy neighborhoods. Eventually, all the wealthy people in your area will know exactly who you are.

Now the question is: Who are your DREAM prospects and how committed are you to getting them as clients?

Saving for retirement is even more important for solo-entrepreneurs because you dont have a company sponsored pension plan or matching 401K contributions to rely on. There are many retirement plans available to self employed individuals and small businesses. Which one is right for you?

Here is just a sample of the retirement plans available to solo-preneurs and small businesses:

Roth IRA although this is not just for solo-preneurs, this is the first place you should look to save if you are just starting to save for retirement (or resuming to save after starting a business). Roth IRAs are low-cost, very flexible, and allow you to grow money tax-free as long as you follow the distribution rules. Contributions can be made up to 4,000, and can be withdrawn at any time without tax or penalty (earnings withdrawn may be subject to penalty and tax if withdrawn before age 59 and certain other conditions are not met).

SEP IRA if youre maxing out your Roth IRA, and are ready to save more, a SEP IRA allows you to save up to 25% of your compensation (20% of your self-employment income) for a maximum of 44,000 per year. Contributions are tax-deductible, and SEP IRAs have low maintenance fees. Contributions can be made for employees also, but employees cannot contribute to their own SEP IRA. This is a good choice if you just have a handful of employees and are looking for a low-cost way to save for your own and your employees retirement.

Simple IRA a Simple plan offers many of the benefits of a 401K, but with less IRS reporting requirements. You can contribute up to 10,000 to a Simple IRA, with an employer match of up to 3%. Contributions are tax-deductible, and Simple IRAs also enjoy low annual fees. Employees are allowed to contribute to Simple plans, and a company match is mandatory. If you have a lower salary (or self-employment income) in your small business, a Simple IRA allows you to put more away towards your retirement than other plans.

Solo 401K for small businesses with no employees, the solo-401K allows you to put the maximum amount away, with less cost and less reporting requirements than a traditional 401K. Similar to a SEP IRA, contributions max out at 44,000. However, unlike a SEP IRA, participants in a Solo-401K can contribute up to 100% of the first 15,000 of compensation or self-employment income, and an additional amount up to 25% of your compensation. This is important because it allows you to save substantially more than a SEP IRA, if your compensation is less than 220,000 per year. A solo-401K is not appropriate for small business with employees or expecting to add employees.

Theres no one best plan for all small businesses. The best plan for you will depend on many factors, such as whether you have employees or not, how much you want to contribute each year, how much time you want to spend administering the plan, etc. To get more information about small business retirement plans, contact a no-load mutual fund company, a discount brokerage company or a fee-only financial planner.

Many people think operating an online business is good idea to make some extra money or to provide them with a way to work anywhere they want. An online business can be a very lucrative way to make money. A online business can provide you with more income and more freedom with your time.

The key to having a successful online business is to find one that you believe in and that suits your style. For instance, if you don’t like selling things or contacting people face to face or by phone, then you probably need to choose a online business that does not require these things. If the online business is selling a product that you, yourself would not use, or don’t believe in, then it makes it very difficult to make a believable presentation to others.

A online business is not going to run by itself, either. Most successful online business entrepreneurs would tell you that their online business got to be successful by working at it, putting in the time and the energy to make it a success. There is no online business that does not require some work. There are, however, some that do not require a large financial investment by you.

The best way to find the perfect online business for you is to do some research about the many different online businesses out there. This way, you can feel confident that you have chosen a online business that you will be good at and will generate the income you are hoping for.