I've been reading a lot lately about the cause marketing trend in corporate America. Essentially, in cause marketing a for-profit business partners with a nonprofit organization, typically one that complements the company's mission and core values, to give back to the community, help the nonprofit raise money, and boost their own profits at the same time. Think Yoplait and its "Save Lids to Save Lives" campaign. For every pink Yoplait yogurt lid a customer mails in, Yoplait donates 10 cents to the Susan G. Komen for the Cure benefiting cancer research.
The phrase "cause-related marketing" was first used by American Express in 1983 to describe its campaign to raise money for the restoration of the Statue of Liberty. American Express made a one-cent donation to the Statue of Liberty every time someone used its charge card: the number of new card holders soon grew to 45%, and card usage increased by 28%. (Source: foundationcenter.org)
I found this interesting article written by the chief marketing officer for the Boys & Girls Club of American. He describes his ten commandments for cause-related marketing efforts. A second article describes the asymmetrical benefits a for-profit company may enjoy depending on the nonprofit organization it ultimately partners with.
What about your company? What organizations have you partnered with to better your community? How have those partnerships impacted your business?
Sunday, November 15, 2009
Sunday, November 8, 2009
Vacation? Fowgetaboutit!
One of the most difficult aspects of being an entrepreneur was maintaining any kind of work-life balance. When you work for yourself, work is no longer 9 to 5. It's evenings and weekends. That's even more true if your office is in your home. And forget about a traditional vacation.
The inability to take a vacation without having to take work with me was a real sore spot for me and my family. As much as I loved what I was doing, as much as I loved working for myself, I resented the fact that others could take work-free vacations, but not me. I mean, what was the point of working so hard if you couldn't take any time off to enjoy the fruits of your labor?
Eventually I made peace with the fact that ignoring work for a week while I sat on the beach wasn't going to happen. I read this article this week, and it reminded me of a few strategies I figured out to make "workcations" a bit more palatable.
The inability to take a vacation without having to take work with me was a real sore spot for me and my family. As much as I loved what I was doing, as much as I loved working for myself, I resented the fact that others could take work-free vacations, but not me. I mean, what was the point of working so hard if you couldn't take any time off to enjoy the fruits of your labor?
Eventually I made peace with the fact that ignoring work for a week while I sat on the beach wasn't going to happen. I read this article this week, and it reminded me of a few strategies I figured out to make "workcations" a bit more palatable.
- Tell your clients when you plan to be on vacation at least a month in advance. Then remind them of the date on a regular basis. The disadvantage of giving them so much advance notice is that they'll want something done before you leave (and won't look at while you're gone even though they swore the project had to be done before you left). The benefit is that I found clients didn't call me while I was gone, and I didn't usually have too much in the way of emails and voicemails waiting for me when I got home.
- Make sure you know whether the place you're staying offers Internet access. If not, call the property management people in advance and ask where they recommend you work. I found the local libraries were usually my best bet for free wi-fi and inexpensive printing.
- Don't be afraid to occasionally tell clients "no." Twice clients called and said they had important projects that just had to be done the week I was planning to be gone. Both times I said I was unavailable, but could either recommend another freelancer or start on the project as soon as I got back. Both times the clients said they'd wait until I got back.
- Be disciplined. Decide when you'll work. For me it was usually first thing in the morning. When that time was up, put the laptop away and "be" on vacation. Make a mental switch to vacation mode and forget about work until the next day.
Sunday, November 1, 2009
"Tis the Season
This time of year always starts me thinking about gifts -- gifts for customers and gifts for employees. Should I give gifts? How much should I spend? Do gifts really make a difference in my customer relationships or help keep staff motivated?
As far as customers, Christmas in particular is an ideal opportunity to say "thank you for your business." I don't want to spend a lot of money, yet I want my gift to stand out from the innocuous tins of popcorn and boxes of chocolate most companies receive each year. My solution was salsa. For years, my sister and I have made homemade raspberry salsa to give to friends and family. I decided since my friends raved about the salsa, my customers would probably like it too. I decorate each jar with bows or raffia and attach a personal thank you note. I have former clients who still call asking if they can buy a jar of salsa. The reason the gift works is that it's unusual, it's homemade so people know I put time and effort into the gift, and, well, the salsa is really good.
Gift giving doesn't have to be expensive. In fact some companies have strict policies against accepting expensive gifts. About.com had an excellent article on corporate gift giving.
For my employees, I stayed away from the plaques and company logoed knickknacks, mostly because I felt they had limited appeal. (The only exception? Travel mugs. People love their travel mugs. However, if you're going to give travel mugs, fill them with something -- candy, coffee beans, anything to make the gift a bit more special.) I found the gift of time was most appreciated. The first few years of starting my business, when money was tight, I wrote each employee a personal note and told them what I appreciated most about their efforts for the company. The note included a "gift certificate" for one paid day off. It was still money out of my pocket, but the paid days off usually got spread out over the course of the year, so I didn't have to come up with a large sum of money all at once. There were a few minimal requirements attached to the gift certificate. They had to give me a week's notice, and they couldn't use the certificates during certain busy times of year. It got so much feedback from my employees, I've maintained the tradition. Of course, I only had two employees. This idea would likely become unwieldy with more than a handful of employees.
If you have ideas for employee or client gifts, leave me a post. I'm always looking for good suggestions.
As far as customers, Christmas in particular is an ideal opportunity to say "thank you for your business." I don't want to spend a lot of money, yet I want my gift to stand out from the innocuous tins of popcorn and boxes of chocolate most companies receive each year. My solution was salsa. For years, my sister and I have made homemade raspberry salsa to give to friends and family. I decided since my friends raved about the salsa, my customers would probably like it too. I decorate each jar with bows or raffia and attach a personal thank you note. I have former clients who still call asking if they can buy a jar of salsa. The reason the gift works is that it's unusual, it's homemade so people know I put time and effort into the gift, and, well, the salsa is really good.
Gift giving doesn't have to be expensive. In fact some companies have strict policies against accepting expensive gifts. About.com had an excellent article on corporate gift giving.
For my employees, I stayed away from the plaques and company logoed knickknacks, mostly because I felt they had limited appeal. (The only exception? Travel mugs. People love their travel mugs. However, if you're going to give travel mugs, fill them with something -- candy, coffee beans, anything to make the gift a bit more special.) I found the gift of time was most appreciated. The first few years of starting my business, when money was tight, I wrote each employee a personal note and told them what I appreciated most about their efforts for the company. The note included a "gift certificate" for one paid day off. It was still money out of my pocket, but the paid days off usually got spread out over the course of the year, so I didn't have to come up with a large sum of money all at once. There were a few minimal requirements attached to the gift certificate. They had to give me a week's notice, and they couldn't use the certificates during certain busy times of year. It got so much feedback from my employees, I've maintained the tradition. Of course, I only had two employees. This idea would likely become unwieldy with more than a handful of employees.
If you have ideas for employee or client gifts, leave me a post. I'm always looking for good suggestions.
Sunday, October 25, 2009
To Hire or Not to Hire
One of the biggest decisions you'll make as a small business owner is whether to hire employees. A good employee can be a real asset to a business, but even the best employee requires time and attention. There are also lots of additional expenses that come with hiring an employee, like workers' compensation insurance, payroll taxes, and, if you're generous, perhaps health insurance.
When you get to the point that you're so busy things start falling through the cracks -- missed appointments or deadlines, forgetting to return phone calls -- it's probably time to start thinking about hiring some help. The biggest thing you want to avoid is getting so busy that the excellent reputation you worked so hard to cultivate begins to suffer.
Before you hire an employee, consider other options. Are there things you're doing you don't need to do that would free up some time? For example, the first year I was in business, I spent lots of time delivering materials to customers. Eventually, I hired a delivery service to do that chore for me. You might also consider hiring an outside contractor, like a bookkeeper to maintain your financial records. There's also the possibility of partnering. Often customers asked me to help them develop company brochures, and for that job, I needed someone with design skills. Rather than hiring a designer and investing in all the necessary hardware and software, I partnered with a freelance graphic artist for design work. I was then able to focus on writing copy for the brochure and sourcing the printer. The customer had no idea the designer wasn't part of my company.
If you decide to move forward and hire an employee, this article has a number of ideas for finding the right candidate. One suggestion not mentioned in the article is hiring someone on a temporary basis to begin with. Work out some sort of agreement whereby the candidate is hired for three to six months, with their performance to be evaluated at the end of the trial period. If it doesn't work out, you haven't had to make a long-term commitment.
I also found a site that listed the federal and state forms you'll need to complete.
When you get to the point that you're so busy things start falling through the cracks -- missed appointments or deadlines, forgetting to return phone calls -- it's probably time to start thinking about hiring some help. The biggest thing you want to avoid is getting so busy that the excellent reputation you worked so hard to cultivate begins to suffer.
Before you hire an employee, consider other options. Are there things you're doing you don't need to do that would free up some time? For example, the first year I was in business, I spent lots of time delivering materials to customers. Eventually, I hired a delivery service to do that chore for me. You might also consider hiring an outside contractor, like a bookkeeper to maintain your financial records. There's also the possibility of partnering. Often customers asked me to help them develop company brochures, and for that job, I needed someone with design skills. Rather than hiring a designer and investing in all the necessary hardware and software, I partnered with a freelance graphic artist for design work. I was then able to focus on writing copy for the brochure and sourcing the printer. The customer had no idea the designer wasn't part of my company.
If you decide to move forward and hire an employee, this article has a number of ideas for finding the right candidate. One suggestion not mentioned in the article is hiring someone on a temporary basis to begin with. Work out some sort of agreement whereby the candidate is hired for three to six months, with their performance to be evaluated at the end of the trial period. If it doesn't work out, you haven't had to make a long-term commitment.
I also found a site that listed the federal and state forms you'll need to complete.
Sunday, October 18, 2009
Inexpensive Ideas for Promoting Your Business
When you first set up shop, it's critical to invest time and money on marketing for your product or service. Of course, when you first set up shop, money is usually pretty tight. So goes the age-old marketing conundrum.
Even though it's difficult to measure the return on money spent on things like advertising, no one would argue that it's important to get some name recognition for your business. The question becomes how much you really need to spend to gain that name recognition. My experience says it doesn't have to be a lot, if you're willing to some of the leg work.
Here are a couple of ideas:
Even though it's difficult to measure the return on money spent on things like advertising, no one would argue that it's important to get some name recognition for your business. The question becomes how much you really need to spend to gain that name recognition. My experience says it doesn't have to be a lot, if you're willing to some of the leg work.
Here are a couple of ideas:
- Set up a Web site -- It's worth it, in my opinion, to spend a little money on a good Web designer to make the site look professional. I asked around and found a local freelancer who was just starting out on his own, and we bartered for services. He designed my site. I wrote copy for his site. Once your site is live, put your Web address on everything -- your business cards, letterhead, signage, packaging, your emails.
- Send a press release to the local newspaper, radio and TV stations -- You'd be surprised at how open local news outlets are to stories on local businesses, particularly if your business is unique.
- Think about offering a seminar that showcases your expertise -- Civic groups are always looking for guest speakers.
- Tell everyone you know about your business -- I used to go through my Rolodex every couple of months and call friends and acquaintances just to say "hi," and invariably the topic of my business would come up. Make an effort to get involved in local business organizations. Volunteer with different community groups. Oh, and have business cards with you at all times. You never know where your next sale may come from.
Sunday, October 11, 2009
Consider Hiring a Personal Coach
Last June Fast Company published an interesting article by Jim Bolt about the surge in popularity for executive coaches. He noted that in 2004, 56% of the companies surveyed said that executive coaching would be a major learning method they would emphasize. In a 2006 follow-up survey, 51% said the use of coaching had actually increased.
You can hire a life coach to help you with just about anything under the sun -- improving your relationships, losing weight, or reaching your full potential as a person. Most often businesses enlist coaches to help their managers and executives develop their leadership skills.
Small business owners could make particularly effective use of a coach. As a small business owner you have to wear so many hats that it's often impossible to look beyond day-to-day operations and think about where you want to drive the business long-term. I also think small business owners are often good at one aspect of their business, marketing or sales for example, but lack other skills. A coach can help you think about your business from a different perspective, keep you on track to reach your business goals, or help you improve skills that are not your forte.
A web search turned up lots of sites that offer professional coaching services. Check out the International Coaching Federation for information about coaching as a tool and what you should look for in a coach. They also offer a coach referral service. Coaching.com, which is a Ken Blanchard organization, also looked interesting. Coach Source was referenced in the Fast Company article. It claims to be the world's most experienced leadership coaching company. If you're not sure hiring a coach is for you, talk to other business owners. Chances are one of them has worked with a professional coach and can help you weed through the pros and cons.
If you decide to hire a coach, Bolt's article makes a number of suggestions for getting the most out of the relationship. If you've worked with a coach, leave a comment and let me know how it worked for you.
You can hire a life coach to help you with just about anything under the sun -- improving your relationships, losing weight, or reaching your full potential as a person. Most often businesses enlist coaches to help their managers and executives develop their leadership skills.
Small business owners could make particularly effective use of a coach. As a small business owner you have to wear so many hats that it's often impossible to look beyond day-to-day operations and think about where you want to drive the business long-term. I also think small business owners are often good at one aspect of their business, marketing or sales for example, but lack other skills. A coach can help you think about your business from a different perspective, keep you on track to reach your business goals, or help you improve skills that are not your forte.
A web search turned up lots of sites that offer professional coaching services. Check out the International Coaching Federation for information about coaching as a tool and what you should look for in a coach. They also offer a coach referral service. Coaching.com, which is a Ken Blanchard organization, also looked interesting. Coach Source was referenced in the Fast Company article. It claims to be the world's most experienced leadership coaching company. If you're not sure hiring a coach is for you, talk to other business owners. Chances are one of them has worked with a professional coach and can help you weed through the pros and cons.
If you decide to hire a coach, Bolt's article makes a number of suggestions for getting the most out of the relationship. If you've worked with a coach, leave a comment and let me know how it worked for you.
Sunday, October 4, 2009
The Health Insurance Nightmare
If you decide to go into business for yourself, one of the biggest expenses you'll face is health insurance. The cost is such that many a would-be entrepreneur have decided self-employment is too risky a proposition. Others who are already small business owners are forced to accept that health insurance is not a benefit they can afford to offer their employees. The U.S. Chamber of Commerce found that of the more than 45 million uninsured Americans, approximately 60% are employed by small businesses.
When I first started my freelance business, I was paying about $150/month for health insurance. By the time I got married and went on my husband's health insurance policy, I was paying more than $400/month. It seemed I was constantly shopping for less expensive health insurance options. And, trust me, it's not a fun chore. It's almost impossible to do side-by-side comparisons. At first, I opted for plans with higher and higher deductibles. Eventually, I joined the National Association for the Self Employed (NASE), which uses the buying power of its members to offer decent coverage at an affordable rate. Even then, I opted for catastrophic coverage only.
About.com has a couple of suggestions for ways to reduce health care costs. Ideas range from keeping your employees healthy to offering a health savings account. I also suggest you check out NASE. If you're in a business with an established trade organization, check out the benefits they may offer. Another good option may be your local chamber of commerce, or talk to other entrepreneurs and ask what they're doing to keep their healthcare costs down.
As a closing thought, I found a Web site called healthinsuranceinfo.net that offers a consumer guide for every state about getting and keeping health insurance. The guides were written by the Georgetown University Health Police Institute. They are downloadable and offer valuable information about your rights and protections.
Good luck!
When I first started my freelance business, I was paying about $150/month for health insurance. By the time I got married and went on my husband's health insurance policy, I was paying more than $400/month. It seemed I was constantly shopping for less expensive health insurance options. And, trust me, it's not a fun chore. It's almost impossible to do side-by-side comparisons. At first, I opted for plans with higher and higher deductibles. Eventually, I joined the National Association for the Self Employed (NASE), which uses the buying power of its members to offer decent coverage at an affordable rate. Even then, I opted for catastrophic coverage only.
About.com has a couple of suggestions for ways to reduce health care costs. Ideas range from keeping your employees healthy to offering a health savings account. I also suggest you check out NASE. If you're in a business with an established trade organization, check out the benefits they may offer. Another good option may be your local chamber of commerce, or talk to other entrepreneurs and ask what they're doing to keep their healthcare costs down.
As a closing thought, I found a Web site called healthinsuranceinfo.net that offers a consumer guide for every state about getting and keeping health insurance. The guides were written by the Georgetown University Health Police Institute. They are downloadable and offer valuable information about your rights and protections.
Good luck!
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