Archive for November, 2009

Entrepreneurship can be an Emotional Roller Coaster

Friday, November 27th, 2009

Entrepreneurship can be an emotional roller coaster.  However, much like life itself, if you develop the right relationships, it is reassuring and comforting to know that you are not heading out on the journey alone (unless you’re a jerk).

Share your enthusiasm and sell your vision to friends and family.  It can be infectious (but not in an H1N1 kind of way).

At first, you may feel like you are the only person who sees the “brilliance” of what you are creating.  And that’s ok.  Just remember that your enthusiasm is infections. If you wear your heart on your sleeve, others may not fully grasp your vision, but they will sense that something is brewing and will become your biggest supporters and most effective marketers.

Having access to individuals whose opinions you respect is also particularly important early on as you work through issues in your business plan and strategy. Realistically, you are going to spend many hours in your own head working through issues…however, sometimes the only way to make sense of the mess is by informally talking it out with friends or family.

More importantly, there may come a time when you experience self doubt (I didn’t think it would happen…but it does).  When it appears the walls are caving in around you, it’s reassuring to have cheerleaders who believe in what you’re doing and provide the right amount of encouragement to see you over the hump (conversely, it’s also good to have people around you who can help keep you grounded if/when delusions creep into your head).

There’s value in lessons learned first hand…but sometimes free lessons are better.

Unless you are a complete narcissist, you will realize quickly that you don’t have all of the answers….quite frankly, there are times when you won’t even know what questions to ask.  This can be particularly daunting if you are launching something on your own.  However, developing relationships with mentors and advisers is an easy and effective way to tap a knowledge base of practical options and solutions.

Ultimately your journey will be unique and individualized, yet at the core, there are situations all entrepreneurs have encountered (setting up loans and financing, dealing with an unreliable supplier, a challenging customer, a printer that jams at inopportune times).  I learned early on that small business owners and operators across different industries deal with similar issues on a regular basis.

Write (don’t type) everything down.

You will find that what you are creating becomes your life…you will eat, sleep and urinate your business.  There will be times when ideas in your head are being generated rapidly.  If you have a thought that gets your heart and mind racing, write it down….if it is important enough, and you obsess enough, something will come of it.  If you have a random thought that you can’t remember a few hours later…it will irritate you like an itch you can’t scratch.  It’s also good to keep a log where you can write and sketch out your plans, and to take notes during meetings. I’m on my 4th journal in the past year and can see how my thoughts and entries have evolved. Every so often I do a scan through the journals to see if there is anything I felt was brilliant…and might work at this time.

Net-net… .

Too many chefs will spoil the dish…but having relationships (both personal and professional) with mentors and complementary advisors is crucial when venturing into uncharted territory.  I’m not suggesting that if you are starting a dot com (like me), that you should seek out Mark Zuckerberg or Bill Gates for periodic chats or coffee…it’s not going to happen.  However, look around at your network for support.  Your friends, family, the guy who runs the Starbucks where you now hold most of your meetings are usually happy to provide advice and direction.  After all, experiences are best when they are shared.

About David Katz:   David Katz is the president & founder of JackTheDonkey.com, a new social network where your time online benefits the charity of your choice (at a rate of 1.1 cents every impression). Thanks to corporate sponsors, JackTheDonkey.com is a free & fun way to support your choice of more than 20 charities from North America & The UK.

JACKTHEDONKEY

How-to Sell your Invention (or anything) to End Users at Trade Shows

Saturday, November 21st, 2009

I gave away a Sharp Electronic Cash Register last Saturday to a friend who owns a Pizza restaurant. I originally bought the cash register for selling my invention at retail trade shows. Seeing it reminded that, back then, I knew nothing about selling product at a Retail Trade Show until a veteran of this venue (who happened to be in the booth across from me selling Magic Chamois’) showed me how.

The Magic Chamois salesman explained to me that people think of trade show booths as they do games at a carnival… The guy at the carnival game is just trying to “get your money.” Therefore you (the salesman at the booth) have to make it seem like you’re just there to have fun and money is the “last thing on your mind.” If a person sees a cash register… They know you’re there for money, so: 1) Get rid of the cash register at your booth… It scares people way.  2) Make sure your table height is at about eye level with the customer. That way you don’t lose “eye contact” when you reach for something on the table. 3) Sell everything for what the people have in their wallets… $5, $10 or $20… And tell them you’ll “take care of the tax.” That way, there’s no change and no cash register… Just you, the customer and the product.

The next day I did exactly what the Magic Chamois salesman told me and got my first sale… and many more thereafter.

I had been working Industrial Trade Shows for over 20 years and thought I knew what I was doing… This proves that you always have something to learn from a guy who “does that.”

Note from Jeff Gawronski:  Paul Tuttobene is also an inventor that took an idea (Buck Magnet) and made it a reality.  He shares all the highs and lows in a must read book titled ‘INVENT-ONOMICS’  If you have an idea for a product invention before you go any further you have to read this book.

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You Can’t Run from your Inner Entrepreneurial Spirit

Tuesday, November 17th, 2009

The entrepreneurial spirit was definitely there all along but the thought of actually starting a business wasn’t even a consideration.  I saw a ‘need’ and dug my heels in and said “NO WAY….I don’t know anything about starting a business.”  Then I hoped and prayed someone else would do what I saw needed to be done.”  The funny thing is, I have since learned, that when an idea needs to be birthed there’s really nothing you can do to stop it.  I couldn’t stop thinking about it and because I truly believe ‘what you think about, comes about’ people who knew how to help make this happen began to show up all around me. I wrote down every idea that I thought might possibly be a part of the business.  After getting validation after validation that it truly was a good idea I enrolled in an “incubator” workshop that helped women entrepreneurs launch businesses.  With the help of this group of peers I saw the vague idea take form. One of the most important steps I took was to surround myself with people who knew what I did not know. I think one of the pitfalls of the entrepreneurial personality is the need to do it all.  I quickly discovered I could not.  Admitting that early in the process allowed me to focus my energy and talent where it was strongest and watch the business I had birthed grow and take on a life of its own. I’m learning each day but I’m no longer afraid to say ‘hey….I need help”.

About Denee King: Denee launched She Just Got Married.Com which is a bridge community that connects brides-to-be with newlywed women through the Boutique where women looking to save on the expense of the wedding can shop for gently loved apparel and accessories and the newlywed can sell and recoup some of her own investment. The community aspect of She Just Got Married connects newlywed women with a growing circle of friends and mentors that will explore every aspect of newlywed life dedicated to Discovering You after ‘I do’

Spread the News Public Relations

Sunday, November 15th, 2009

Logo_STNcopy lo res-1

Spread the News PR
Todd Brabender

Obtaining the media’s attention for your invention or entrepreneurial business is a must and Spread the News PR agency is the source your company needs to get recognized.  Spread the News has made a specialty in gaining press for inventions and entrepreneurial businesses in general.  What’s more is that this PR firm is actually priced to be affordable for the budget minded entrepreneur.  

Announcement:  On 11.15.09 Yak About It has announced Spread the News as our Public Relations firm that will represent our company! When you feel your business is ready for PR help you can contact Spread the News direct or feel free to ask us the press clippings Spread the News has helped us to achieve.

Google Adwords – The Entrepreneur’s Champion

Thursday, November 12th, 2009

There are so few marketing ways an up and coming entrepreneur or inventor can do to get noticed ASAP.  For those that have brought an invention to market, getting discovered, noticed or Yak’d About never happens fast enough.  The waiting period or little by little growth can be difficult to bare.  It’s not just the financial aspect that makes entrepreneurs fret that no one knows about them, but its the fact that they worked so hard and long on bringing their idea to market.  All entrepreneurs simply want everyone to know that the product (or website) that previously didn’t exist can now be found.

Enter… Google Adwords.

I am specific to Google as although Yahoo search can help they operate on a pay us more and we’ll rank you higher method.  Although Google does this to some extent they truly take into account your ad relevance.  If you are wondering about Bing, who knows they may get people to switch their habits, but they currently have less than 5% of the market share, so for now we’ll leave them out of this conversation.

Google Adwords quite simply put is the entrepreneur’s champion because it allows anyone to get their website or product seen right away.  Unlike an organic listing in Google, which takes time, content and good search engine optimization (by the way never pay for SEO), Adwords can riffle you to the front in a matter of days.  It used to be hours, but as I’ve mentioned they really check for relevance. Due to smart marketers in the past making ads that had nothing to do with their company, Google has gotten more savvy in making sure its content is legitimate.  For instance an online retail store in the past would look to see that National Healthcare is something people are typing and looking up in Google.  They would make an ad that says National Healthcare and tie it into their real product/website.  This worked as it reached a lot of people, but most people using Google search wanted to really find articles on “National Healthcare”.  As smart marketers find creative tactics, Google is just a step behind (or in front) of adjusting their system.  Now your ads have to be relevant to your site.  Google even ranks how relevant your ad is and as you’d guess the higher you rank the better positioning you’ll get.  That’s the big difference between Yahoo and Google.  To Yahoo its all about the green stuff, the more you pay the higher you can rank.  You may not be as qualified, but if you have the cash flow you can buy your listing.  With Google what your site says and does actually matters.  The good thing is that Google has the lion’s share of the market so starting with a Google focus is the smart business thing to do.

4 Tips for google-adwords-logoGoogle Adwords

1.) Get in the customer’s shoes. If you were a customer shopping for your product, but didn’t know it existed what would you type into Google?  When you have a long list set it aside and ask family or friends what they would use as search words or phrases.  Once you have a solid list and you enter it into Google they’ll actually provide you with more or similar search terms that you may want to consider.  You’d think they were just the sweetest for doing this, until you remember you’ll be paying per click.

2.) Don’t overpay. Ok. This is a tough one.  In the beginning to show how relevant you are and that people like clicking on your ad you might have to pay more per click than you want or should.  The key however is to know when to start to bring that cost down.  A good campaign should have keywords cost between .07 – .30 cents a click.  I have found the current normal/best range to be .15-.22 cents a click.  This will vary by industry.

3.) Adjust. Adjust. Adjust. A Google PPC campaign that sits is a campaign that will fail.  You’ll either overpay per ad, you’ll get passed in rank per keyword or worse you’ll miss words that for some reason get over-clicked by scammers or the wrong audience.  Be on it like a hawk.   I know it seems like another chore, but this chore (unlike Quickbooks) actually brings in revenue.  Just think revenue, revenue, revenue and you won’t mind the task.  If you ask me, “how often do I check?”, that depends on your campaign, but a minimum of 1-2 times per week is a must.

4.) #1 Rank is not everything. To be #1 in rank is to it increase the cost and that is a budget buster for entrepreneurs.  Google is smart because they know everyone wants to be #1 in everything they do so as you guessed it this will cost you.  My opinion is that #1 can be alright for a brief test period, but most industries it actually can hurt to be #1.  By being #1  you’ll get more clicks, but are they necessarily more interested shoppers?  If anything you’ll get the click happy people who bounce around.  If you are ranked #5-7 or the end of page 1 or even the beginning of page 2, you’ll get customers who actually took 2 seconds to think before they clicked.  If they thought before they chose your ad to click, then there is a good chance they actually want to shop with you.

Now, before the holiday season passes you by, go beef up or create your impressive Google Adwords campaign.

About Jeff Gawronski’s Ad Word (PPC) experience: Jeff has been launching and running Google Adword campaigns for the past 4 years.  His campaigns have taken an unknown online retailer and brought it to a competition level with big box stores.  Jeff’s adword knowledge has lead him to conduct teaching seminars at major advertising firms and has lead to his assistance with small companies in need of a solid PPC campaign.  Jeff’s adword services are available and he can be reached at jeff@yakaboutit.com.

Trademarks – Doing it Right

Monday, November 9th, 2009

As most people know, trademarks are designed to protect, not your product, but your “brand.”  A trademark is a name, logo, “tag line,” and can be a color, sound, or package design, and is intended to protect the reputation of your company.  Trademark rights exist as soon as you use your mark in interstate commerce in association with your product or service.  Your rights exist, geographically, wherever you use your mark.

Even though trademark rights exist at the time you begin using your mark in association with your product in interstate commerce, there can confusion as to where exactly your rights extend.  A federal trademark registration can eliminate this confusion.  Once you have obtained a federal trademark registration from the United States Patent and Trademark Office (USPTO) your rights exist over the entire United States (with the caveat that a prior non-registered user may have superior rights in certain geographic regions).  A federal registration is a useful and advisable way to protect your brand.

Trademark applications are filed with the USPTO and can be filed as either intent-to-use (ITU) or use-based applications.  The ITU application allows you to file an application for a trademark prior to actually using the mark in interstate commerce.  In order to file an ITU you only need a genuine intent to use the trademark.

An attorney is not required for the filing of a trademark application.  However, there are some pitfalls to be aware of if you decide to file the application yourself.  First, you must ensure that the applicant you list on your trademark application is correct.  On its face, this may seem obvious, but if you get it wrong, your entire trademark application can be considered void.  This typically occurs when you have formed a corporation.  If you have formed a corporation, that typically means that your product is being sold by your company, not you individually, which usually means that the trademark is being used by your company, not you individually.  Therefore, the trademark application would need to be filed in the name of the company.

A second issue involves the mark itself.  If you are using a logo or a tag line, make sure that it is the same all of the time.  The USPTO is very particular about changes in trademarks once they have been filed.  So, if you have a logo design, make sure that it is the one you want to keep prior to filing a trademark application.  Also, many times people will use a logo, a word mark, and a tag line together.  In order to provide yourself with the broadest protection, I would recommend filing separate applications for each one, so that if someone copies only one of the three you still have a trademark registration that covers it.  Another issue with logos is color.  In a trademark application, you can claim the color as part of the trademark or not.  Not claiming color provides broader protection.

A final issue is the listing of goods and services.  Once you have filed the application, you may amend the listing of goods and services, but you cannot add new ones.  So, make sure that you list all of the products on which you are using the mark.  When listing the goods try to be as broad as possible in your description.  If the USPTO would like you to use different wording, they will let you know.  It is easy to go from broad to narrow.

Trademarks can be a valuable asset to your company, and should be protected and treated appropriately.

About the author Daniel A. Thomson:  Expertise lies in intellectual property (which of course includes Trademarks).  Making sure hard earned and created brands are protected.  Dan has also authored “A Brief Overview of an Effective Practice” in Intellectual Property Client Strategies, and “The Shifting IP Landscape: Dealing with Change Domestically and Abroad” in Intellectual Property Law 2008: Top Lawyers on Trends and Key Strategies for the Upcoming Year.  Daniel is with Emerson, Thomson & Bennett, located in Akron, OH.  Feel free to contact at dat@etblaw.com.

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China Sourcing

Tuesday, November 3rd, 2009

ARUN

ARUN                                                           Plastic Product Production

Based in Xiamen, China, ARUN has all of the attributes that you would want in an overseas supplier. Their ability to make injection molded plastic items to spec and at a price that will impress has earned them a spot as a resource.  An added bonus is that you can work with an American who actually lives in China and works on location at the factory.  Contact:  jeff@yakaboutit.com

Why God shouldn’t be Politically Incorrect.

Tuesday, November 3rd, 2009

One aspect of business that has always fascinated me is the role God plays in the lives of entrepreneurs.  What’s apparent is that there is an abundance of inventors and entrepreneurs that believe their concepts, ideas and business all owe God the credit.  What is more interesting is how little this is made known to the general public.   It seems that those entrepreneurs that hold a strong faith in God often only insinuate His role in the process.  I am not just talking about fellow inventors on Yak About It or other business people I have met along the way, I am also referring to myself.  I truly believe my given talents, drive, people I have been blessed to meet and business situations were all guided by God’s hand.  I have had the free will to use my talents, meet great people or take an opportunity, but it is the presence of these sources that point to the fact God must be present.  There are so many occurrences in my life and business that I would have never even prayed for, yet they occurred and I am FAR better off because of these happenings.  The glory should be given to God.

This all leads me back to the question of :                                                                                      ”Why is God (or discussing God) politically incorrect?  Why does it offend or turn people off?

1.) Perhaps it is politically incorrect because we are so afraid of alienating those who don’t believe in God.  This I feel might be the worst reason of all.  For those who don’t believe in God I certainly don’t want to hold up against a wall and force them to accept God, but it is these very people I hope to reach with my message of God’s power in our everyday lives.  It is for those that don’t believe that hearing of God’s work is most important. Once again it’s not about forcing a belief, but rather not being afraid to share the strength God has provided in our everyday lives.

2.) Perhaps it is politically incorrect because those that hear you talk of God think that you feel you are better or ’special’.  Of course if people who did mention or credit God really felt they were better or ‘special’ that would be disturbing, but perhaps in general maybe people get turned off because that is how they want to view those who speak of faith.   This reason could be the unfortunate truth that a few spoiled it for the whole.  I hope this is not the case and that this reason for offending can be set aside.

3.) Perhaps it is politically incorrect because many people feel giving God the credit is a cop out.  If God is present in everything then giving Him the credit for certain entrepreneurial happenings is a ‘lame’ answer.  A good friend of mine who happens to be atheist once said when I asked him where he turns for guidance in his business troubles, “I say self, let’s do this,.. ‘self’ what do I need to do?.. and before I know it ‘self’ comes up with a solution”.  I think it could be considered more ‘lame’ that ’self’ or our own great genius is what guides us in business.  I think God’s role is often clear and should be more politically correct than how great or how smart any one person thinks they are.

Perhaps the real subconscious reasons as to why God’s role in our inventions, business and entrepreneurial efforts remains a quieter secret will never be known, but I hope that it can be a more free and accepted topic as the world evolves.

My last take on this topic is that just like anything it can be over-done.  No one wants to hear how God helps you email.  The other side of it is that their are steps in the entrepreneurial journey that others can learn from so while giving God credit is good we must provide the business content for others to reap the rewards of mistakes and successes of our past entrepreneurial ventures.

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