“Economic activity in the United States has continued to expand at a modest pace, although some areas, including housing, construction and the labor market, remain weak,” the Federal Reserve said on Wednesday, Oct. 20.

This is a sobering reality check for millions of Americans who continue to hope the economy will soon turn around.

What’s to be done?

With Americans becoming increasingly concerned about the economy and the government stepping in with short-term solutions designed to stimulate the economy, the answer is clear: We must support and encourage entrepreneurship and new entrepreneurial initiatives.

Why? Because it’s entrepreneurs who will create the new jobs millions of Americans sorely need.

3 Things for Entrepreneurs to Keep in Mind

1. Don’t indulge in delusional thinking.
In this changing economy where unemployment is stuck at 9.6 percent, it’s a mistake to think that we’re going to return to the way things were anytime soon. And who would want to? Things weren’t all that economically great before the recession began.

Let’s face it folks, we’re not going to see real estate skyrocket any time soon or lost jobs come back overnight. What we are seeing and will continue to see are entrepreneurs stepping to the plate to create new jobs. This is what will save the U.S. economy. Not the government. Not big business. It will be the U.S. small business sector expanding and creating new jobs that will get us out of this recession.

2. Be realistic.
As an entrepreneur myself, I love the concept of dreaming big and going beyond where anyone has gone before. At present, however, if you’re thinking about starting up a business, it’s more important to focus on getting up and going now than it is to get qualified for the future.

For that reason, the one thing I caution my clients against is starting up a new business that is more than two degrees different from anything else they’ve done before in their life or career. That’s because if you extend beyond two degrees it is likely that you’ll end up feeling overwhelmed with all that you’ll need to learn and do just to get up-to-speed.

So, stick close to what you know. Capitalize on your existing skills and experience when starting up. This will not only help you get your business up and going very quickly, it will also save your time and money.

3. Expect more and less from your bank.
While the Small Business Jobs and Credit Act – signed into law by President Obama last month – offers a fresh source of financing for small businesses (including a $30 billion lending fund to be distributed by the Treasury Department to qualified small banks that promise to extend new loans to small business), it’s still extremely difficult for small businesses to get their hands on that cash.

Now, more than ever, you must make sure that when you go ask lenders for money that your business plan is a “cogent, practical document that lays out where the business has been from a historical perspective and where it’s going and why,” so says Christine Reilly, President of CIT Small Business Lending Corporation.

The days when a small business owner could walk into their hometown bank and borrow money to tide over their struggling business are long gone.  Nowadays, banks are asking you to front them money by asking you put up your personal residence as collateral to secure your loan. Expect this and be prepared with a solid business plan.

While the news on the economy may sound bleak, most economists agree that the economy will turn around. What is needed the most is creation of new jobs. And that’s where entrepreneurship and new entrepreneurial initiatives come in. If you are an entrepreneur, your time has come to do your part in creating new jobs. Start by making sure you keep in mind the above three things and get things rolling in the U.S.

Editor’s Note: This article was previously published at OPENForum.com under the title: “Entrepreneurs to the Rescue.” It is republished here with permission.

From Small Business Trends

Is It a Bird? Is It a Plane? No, It’s an Entrepreneur

Summer is also a time to reflect on the reasons why you decided to become a small business owner and declare independence from the traditional 9-to-5 workforce.

So, why did you decide to declare independence?

Was it because you wanted more flexibility and freedom in your life? Perhaps you were tired of working for someone else and wanted the independence that comes from working for yourself.

Whatever your reasons, think about how your personal declaration of independence has opened up and changed your life.

What’s your story?

My Story

In June of 2004, I finally did it. I handed in my resignation as an associate professor, and began packing up the formidable accumulation of books, music and files from four degrees and 24 years of academic life. Distilled onto one little piece of paper that began with the words “kindly accept my resignation” and ended with “sincerely,” my academic career ended–and my life as an entrepreneurial woman began.

Taking this step to become an entrepreneur seems, in retrospect, the most natural thing for me to have done. The trek from resigning from a prestigious academic post to starting up my own small business, though, had a lot more start-up woes than start-up goes. At first, I felt euphoric at the feeling of being liberated. Then, I was slammed by the twin emotions of panic and fear.

Since I had always been a full-time, traditionally employed person, finding myself out of a job with no idea what I would do next was bloody overwhelming. From one day to the next, I couldn’t tell whether I was feeling exhilarated at being free to do, be and have whatever I wanted, or shocked by disbelief as the reality of what I had done began to sink in.

I felt 98 percent excited and 2 percent scared, or was it 2 percent excited and 98 percent scared? I just didn’t know! This is what I think makes taking charge of your own business so intense for us all.

Entrepreneurship: Is It for You?

Becoming an entrepreneur and small business owner is not for everyone. For many people, the very thought of not having a steady paycheck is enough to put them off. For others it’s the cost of starting a small business (paying for health insurance, Social Security and other future needs) that becomes too much of an investment and risk. For some it’s the stress of working in isolation, the lack of knowing where to turn for feedback and support, the endless distractions and the challenges of being, at least for a time, a one-person show that send them running for the door.

For the fortunate few who feel the call of the entrepreneur, however, this is about as exciting a time as it gets to start up and launch your new business!

Top 10 Characteristics of Entrepreneurs

Fortunately, psychologists, sociologists and historians have been studying the behavioral characteristics and traits of successful entrepreneurs for long enough to have come up with a composite list of attributes and characteristics.

Read the list and mentally keep count of how many times you said, “Yes, that’s me!”

1. You have a strong desire for autonomy, to be your own boss, and to live life on your own terms.
2. You are an independent self-starter, not needing or wanting others to tell you what to do.
3. You have a powerful drive to make money and accumulate wealth.
4. You are a calculated risk-taker with a higher-than-normal tolerance for failure; maybe you even consider failure a non-issue.
5. You like to be in control and call the shots.
6. You are highly self-motivated and are indefatigably fearless when it comes to getting the job done.
7. You had childhood experiences as a budding entrepreneur and/or entrepreneurial parents, grandparents or relatives.
8. You have a high level of energy that is sustainable over a long period of time.
9. You are creative and innovative, a strong decision maker, and able to think quickly on your feet and set things in motion.
10. You are a big-picture thinker, capable of seeing how things relate to each other.

So, How’d You Do?

Did you see yourself in this list of characteristics? Entrepreneurs are extraordinary people. They value freedom, autonomy, independence and control. They are creative, driven self-starters. They have courage and conviction in spades and don’t see failure the same way that other people do. They are remarkable in their inner toughness. Their strength helps them rise above self-doubt, apparent failures and the din of their critics. They value themselves and their ideas so much that they decide, once and for all, to make their own personal declaration of independence.

From Small Business Trends

Why Did You Declare Independence?

If so, one of the things that can drive you absolutely nuts is trying to figure out how to achieve that goal while you’re already putting all your time and energy into keeping your current business running!

Well, get ready to celebrate! I’m about to show you how to use the powerful Law of Attraction to transform your current business from a “small business endeavor” to “a million-dollar enterprise.”

Relax. Believe it or not, it doesn’t require working any harder than you already are. Instead, I’m going to show you how to work smarter by focusing on what you need to do energetically and practically to create a million-dollar business.

Begin by living a millionaire lifestyle.

Living the Millionaire Lifestyle

One of the best books I’ve read on the millionaire lifestyle is, “The Millionaire Next Door,” by Drs. Thomas Stanley and William Danko. In 1998, when this book first came out, the world was shocked to read that, contrary to popular belief, many millionaires do not live in mansions, drive fancy cars, or vacation in exotic places. That book revealed that, if you want to create a million-dollar business, the first step is to start living the millionaire lifestyle by:

• Living below your means. Half of the millionaires interviewed did not live in high-status neighborhoods. Instead, they lived in average neighborhoods in average-sized houses. The other half only moved to more affluent areas after they had become wealthy.
• Being frugal. Most millionaires do not buy expensive suits, pricey boats or brand new cars. Instead, they like to shop around for a good bargain and always haggle for a better deal.
• Loving your work. Millionaires are either self-employed or own their own businesses, and they feel very passionate about what they do. They are self-made and like to succeed by their own ways and means.

The Millionaire Mindset

Next? Use the Law of Attraction to create a millionaire mindset. Here’s how:

1. Cultivate an extraordinary mindset.

If you want to create a million-dollar business, you must first cultivate a millionaire mindset. What that means is that you must already be, in your thinking, a million-dollar business owner where a million-dollar cash flow is normal for you.

2. Create causes, not businesses.

Millionaire business owners focus on doing great things, not creating great businesses. They pour their heart and soul into leaving a legacy of great causes they are passionate about.

To do that, you must have firmly fixed in your mind the core purpose for your business. Make sure it is bigger than your own self. Remember: It’s not about making money; it’s about making our world a better place for you and others to live in.

3. Look for inspiration, not products.

What inspires you?

Once you know that, the next two steps are simple: Look for the opportunities arising from that inspiration and take action on them. By first turning inward to tap into your inspiration-rather than looking outward for products or services you think will line your pockets-million-dollar returns will flow to you.

4. Know that thoughts become things.

The Law of Attraction states that what you think about comes about. That’s because your thoughts attract and magnetize other thoughts like them. Therefore, whatever you think about, that is what you will multiply in your business.

Your business is a mirror of your own inner thinking. Where is your attention right now in your business?

5. Be 100% committed.

Are you willing to do whatever it takes to have a million-dollar business?

Some people aren’t, you know. You can easily recognize them by how they allow setbacks to get them down and by how quickly they give up whenever the going gets tough.

Having hopes, dreams, and aspirations of becoming a million-dollar enterprise is not enough to create it. Instead, you must be 100% committed that, no matter what, you will do what it takes to have a million-dollar business. Only then will all the synchronicity and magic of the Universe align to make that happen.

6. Think two million.

If you want a one-million-dollar business, begin with a two-million-dollar business mindset. Since all riches begin in the mind first, there’s no better way to build a million-dollar business than by starting off with an idea that has twice that amount of energetic backing.

7. Have a plan, and then work the plan.

I cannot stress enough the importance of having a business plan in place for your two-million-dollar business. Just the process of putting together a two-million-dollar business plan will energetically stretch you in ways that will open you to becoming more of a match for the one-million-dollar business you want.

Once you have that two-million-dollar business plan in place, then work it!

If you are a budding entrepreneur or serial small business owner, I really want you to understand one thing: Working harder is not the solution to creating a million-dollar business. Instead, adopt the millionaire lifestyle above while using the Law of Attraction to create a millionaire mindset. If you do, you’ll be well on your way to creating that million-dollar business you’ve long been dreaming of.

Remember, the creation of a two-million-dollar small business enterprise is only a mindset away.

Editor’s Note:  This article was previously published at OPENForum.com under the title: “Cultivating the Millionaire Mindset Using the Law of Attraction” It is reprinted here with permission.

From Small Business Trends

How to Get that Millionaire Mindset

Are you primed and ready to make money this year?

Have you put a plan in place to promote your business and maximize your success?

Here are ten quick, easy-to-implement things you can do that will guarantee your online business will be making you money this year:

Write down your personal affirmation for the month and the year.

The goal here is to help you step back from the hustle and bustle and stay focused on what’s important to you.

Get your story, idea, product, or service announcement out into the marketplace seven different ways, all at once.

Choose from these options to make a powerful impact:

1. Press release
2. Blog post
3. Facebook
4. E-zine blast
5. Email announcement
6. Videocast
7. Downloadable audio snatch
8. Free e-book
9. Podcast
10. Teleseminar

Use free classified ads to promote your business.

If you have a knack for writing short ads, you will be able to increase your site traffic by using free (or pretty darn cheap) classified ads. Place ads where you know your target audience will see them.

Introduce yourself to three potential referral sources.

A nurturing referral relationship can be quite profitable. So think of professionals who would be good referral sources for you. Then make contact with them today.

Add three success stories to your website.

You already may have testimonials from your clients on your website. Now create a space for their before-and-after success stories. Remember to include a link back to their sites so everyone gets some love.

Add a tantalizing promotional “special” to your email signature space.

Put a brief promotional line about the special product or service that you are giving away (or offering at a reduced rate) this month.

Write each of your clients and customers a personal, hand-written “thank you” card.

Thank them for sticking with you through the 2009 recession. Be sure to include a coupon they can use for a special product or service.

Offer a deal, such as “buy-one-get-one-free.” This will increase your sales!

Follow up with all your 2009 leads that showed an interest in your product or service but didn’t buy.

Call (don’t email) them and see if they now have a need for anything you offer. 

Let your clients know about something big you’ll either be doing or offering in 2010.

Here are some big ways to make an impact and get their attention:

• Book launch
• DVD training program
• Keynote speaking engagement
• Public seminar
• Corporate training program
• Boot camp
• Mentoring and apprenticeship program
• Weekend retreat
• Television show
• Membership website program
• Special teleseminar series

As a business owner with an online presence, you need to offer special buying opportunities throughout the year. This list will help you do just that.

Implement one idea each day. You’ll not only be promoting your online business, you’ll also be making certain it will be a success this year.

Editor’s Note: this article was previously published at OPENForum.com under the title: “10 Things You Can Do to Make Your Online Business Money” It is reprinted here with permission.

From Small Business Trends

10 Steps To Generating Revenue Online for Your Business

Is she nuts?

For those of you who have been reading the articles I’ve written during our current economic recession, you indeed may be wondering if I’ve lost my marbles. After all, throughout the recession, I’ve been telling you not to lower prices on your products and services.

Why the change in tune?

Because, during a recession, it’s better to keep your prices consistent rather than lower them and appear as if you are chasing the buck. However, during a recovery (which we are now in), you do want to lower your prices as money starts flowing and people ease into spending again. As consumer confidence grows, so should your business. And what better way to attract new customers than by offering them a smoking economic recovery deal by lowering your prices temporarily?

Standing on the Cusp of Recovery

Today, we stand on the threshold of economic recovery. According to the September 16th issue of The Wall Street Journal, “Federal Reserve Chairman Ben Bernanke said Tuesday that the recession was ‘very likely over,’ as consumers showed some of the first tangible signs of spending again.” As small business owners, it’s now time to move out from under the cloud of fear and stand beside the banner of recovery.

Do you remember the 1983 film Mr. Mom, starring Teri Garr and Michael Keaton? In the film, Jack (Keaton) and Caroline (Garr) are married with three kids and living in the suburbs of Detroit, Michigan, during the 1980s recession. As the movie opens, Jack has just lost his job in the auto industry and Caroline has been hired by an ad agency, forcing Jack to trade roles and become a stay-at-home Mr. Mom.

In the movie, Schooner Tuna has hired the ad agency Caroline works for to help them with their image and sales slump. To do so, Caroline comes up with the unique idea of temporarily lowering the price of Schooner Tuna until after the economic crisis is over. In the movie, you see Howard Humphrey, President of Schooner Tuna, telling the American public:

“All of us here at Schooner Tuna sympathize with all of you hit so hard by these trying economic times. In order to help you, we are reducing the price of Schooner Tuna by 50 cents a can. When this crisis is over, we will go back to our regular prices. Until then, remember, we’re all in this together. Schooner Tuna. The tuna with a heart.”

How to Lower Your Prices with Dignity and Strength:

• Create an esprit de corps.
  Don’t set yourself apart from your target market. Find a way to connect with them emotionally and show them you are all in the same boat.  Example: We’ve all been through a lot during this recession and have gone through some tough times.
• Make sure you use strong wording when lowering your prices.
  Don’t be namby-pamby. Let folks know exactly what you are doing in bold, strong language. Example: We’re slashing the price of our services in half!
• Be entirely transparent and upfront about why you are lowing your prices.
  Don’t let there be a whiff of anything slightly off about your offer. Let people know exactly why you are lowering prices. Example: We know that many of you have wanted to use our services but found our prices were out of your budget.
• Be entirely clear in your call to action.
  Don’t apologize for asking them to take action. Tell them exactly what you want them to do and why.  Example: Check us out again! We’ve dramatically lowered the price on most of our products.
• Tell folks when you will be going back to your regular prices.
  Don’t waffle around about when you will return to regular pricing. Tell them what you’ll be doing and when. Example: In six months, when the economic crisis is over, we’ll go back to our regular prices.

Today, you are standing on the launch pad of success. The recession is over. The pendulum has just started its swing toward economic recovery. That means that things are about to take off for you as a small business owner and for the world as a whole. Now is the time to lower your prices-not six months from now. The moves you make while on the cusp of recovery will determine where you’ll be standing one year from today when our economy is stronger and job security higher.

Editor’s Note:  this article was previously published at OPENForum.com under the original title:  “Begin Your Economic Recovery:  Lower Your Prices Now!“  It is reprinted here with permission.

From Small Business Trends

Begin Your Economic Recovery. Lower Your Prices Now!

We’ve seen financial markets collapse, mortgage lenders go under, home loss through foreclosures, extreme bailout packages, and growing unemployment.

While it’s true that the pundits of economic trend analysis think that we’ll all pull out of the global recession, there’s no doubt that economic uncertainty will continue to shake Wall Street and Main Street, impacting our personal and business lives, well into 2009.

As President-Elect Barack Obama says, “It’s time for a change.” The U.S. is poised for decision and action. Globally, we all understand that we must find better and more effective ways to work together.

As a small business owner, are you ready to do your part? Are you ready to help get America and the rest of the world back on our feet? Begin by resolving to make 2009 a profitable year for you and your business.

Small Business Bailout Policy

1. Focus on your primary greatness.

Barack Obama had it right. People are ready for a change. They are ready for standards to be raised and for a return to a value-driven way of interacting with others.

Come back to your core values by asking:

• Why am I in business?
• What are the values that were important to me when I began my business?
• What values have I let slide while trying to succeed?

In other words, focus on your primary greatness. As best-selling author Stephen Covey explains, “Primary greatness is about character and contribution. Primary greatness asks, ‘What are you doing to make a difference in the world? Do you live truly by your values? Do you have total integrity in all your relationships?’”

2. Be transparent and honest in your dealings.

2008 turned out to be the year of artifice and subterfuge. People have been hurt and don’t know whom to trust or what to believe.

Make 2009 the year when you do your part to help people believe and trust again. Be honest in your dealings with people. Be transparent in your business operations. This year, honesty will matter. Being a good person will matter. Being authentic will matter. Consumers, employees, and the world will be looking for integrity and eager to embrace individuals and businesses that strive to earn their trust.

3. Keep it simple.

2008 was the year of excess: excess in spending, immoderation in deficit, and overindulgence in more, more, more. In 2009, less will be more. Want to increase your productivity in 2009? Then find innovative ways to keep things simple. Get back to basics and look for simple solutions to running your business more effectively. Find ways to do more, simply.

“Simple yet innovative solutions to everyday problems will gain rewarding recognition in 2009,” says Mireille Guiliano, best-selling author and former CEO of Veuve Clicquot. “Productivity can be hindered by flashing Blackberries and buzzing cell phones. Remove yourself from the gadgets and prioritize using the good old-fashioned pen and paper.”

4. Care forward.

Take advantage of the fact that many industries and businesses are preparing to pare back and cut down in 2009. Don’t follow their lead. Instead of paring back, care forward. Put into place programs that give to your employees, do more for your customers, and support your community.

When the economy picks up again in 2009, the people you cared about and supported will remember. They will remember what you did, and when they have money to spend, they will show their appreciation by investing in your business.

5. Create a loyal fan base.

Ancillary to caring forward is the importance of creating a loyal following. While it is a well-known fact that your best prospects are your current customers, you’ll need to put a plan into action to cultivate that fact in 2009.

Focus this upcoming year on your current customers. Do right by them. Consider their well being when making business decisions. Stay in contact with them and make it a point to know what’s going on in their lives. Not only will they appreciate your effort, you’ll have gone a long way toward creating a loyal fan base that will help you thrive during tough economic times and beyond.

6. Embrace eco-responsibility as an overall business strategy.

In 2008 we saw radical green awareness sweep across the globe. Everywhere, people and businesses were going green. If you haven’t yet gone green, go green in 2009. Go green to improve your bottom line thinking and increase productivity. And if you’ve already been green, flaunt it.

How ecologically and socially responsible you are in 2009 will be important to your customers, to your investors, and to the world. More people than ever before will want to do business with green companies.

7. Master social networking.

In 2008 there was Web 2.0. In 2009, there will be Enterprise 2.0. With the rise of social networking tools like Facebook, Friendster, Second Life, and Twitter, and the increase in people using these sites, you can’t afford not to get involved this year.

Resolve now to increase your social networking interaction in 2009. Or, if you’ve not yet begun, put a plan into place to get started. Use social networking to keep your business edge razor-sharp. The same goes for social media marketing, including blogs, podcasts, online radio, and Wikis. Your productivity will depend on it!

8. Cultivate a culture of collaboration.

When gas prices were at their all-time high this summer, many companies started allowing their employees to work from home instead of commuting to the office. With this cost-cutting move, the way we do business has forever been changed.

2009 will be the year of the mobile worker. Telecommuting is here to stay. Make sure you have platforms in place to cultivate a culture of collaboration that goes beyond the traditional barriers of walls, wires, time, and distance.

9. Find new opportunities for expansion.

“Don’t limit yourself to one area of expertise. Expand, grow, explore!” So says American music mogul Quincy Jones.

In 2008, small business owners merely talked about the importance of expansion and growth. In 2009, you’ll actually need to do it. No matter what industry you’re in, you’ll need to find new ways to expand your business domestically and internationally. Instead of relying on one profit center, create several to increase profitability and generate revenue.

10. Strengthen relationships.

Not enough can be said about the power of relationships in tough economic times. 2008 was a tough economic year. Things will get worse before they get better. Therefore, resist hunkering down and letting your business close in on itself in 2009. Instead, reach out and strengthen existing relationships while forging new ones. “In rocky economic times, small businesses have a huge advantage,” says Gail Goodman, CEO of Constant Contact, “namely, human touch and better relationships.”

People are hurting right now. Use your business to heal the hurt by connecting with others. Take your cue from Keith Ferrazzi, best-selling author and CEO of Ferrazzi Green Light, who says, “Recognize that all relationships are personal. There is no such thing as a business relationship.” Take the business out of relationship and you will be rewarded in ways that far exceed any business expectations you may have for 2009.

2008 has been a tough year for small business owners. As economic uncertainty continues to shake Wall Street and Main Street, it’s time to take action. It’s time for a change. 2009 will be the year when the entrepreneurial rubber meets the road-when small business owners who dream big, win big.

Are you ready? Be ready. Resolve now to make 2009 a profitable year for your business. Implement these top 10 resolutions for a more profitable 2009, and you will be doing your part to help get America and the rest of the world moving forward. “It is the smaller businesses that are gonna get America back on its feet again, ” according to Richard Branson, Virgin founder and entrepreneur, “and it’s up to all of us entrepreneurs to get out there and do everything we can.”

Part of the Small Business Trends 2009 Trends Series.

* * * * *

About: Dr. Susan L. Reid is a business coach and consultant for entrepreneurial women starting up businesses. She is the author of “Discovering Your Inner Samurai: The Entrepreneurial Woman’s Journey to Business Success.” Her website is Alkamae.com.

From Small Business Trends

Top 10 Resolutions for a More Profitable 2009

Why? Because you want to make sure your business stands head and shoulders above the competition.

A good niche statement highlights what’s special about your business. It expresses your unique selling position to the world and lets your target niche know what you can deliver.

Want to make sure you, not someone else, gets the lion’s share of your niche’s attention? Just follow these guidelines, fill out the niche statement formula at the end of this article, and you will!

Two Things to Do and Not to Do when Writing your Niche Statement

In a good niche statement, do:

• clearly state who your target niche is, and
• specifically name the problem people in your niche have that you will solve.

The key to clearly stating your target niche is to describe your niche so explicitly that they readily recognize themselves. For this reason, it’s important that you clearly and concisely name your niche using their language.

When you specifically name the problem they’re having, they don’t have to wonder if you can help them or not. They’ll know you can.

“The beauty of this is that probably 95% of your marketing is done right there,” says Samantha Hartley of Enlightened Marketing. “Because, if you tell people you understand their problem and you say it in such a way that they get that you do, then they immediately perceive and assume that you can solve their problem.”

In your niche statement, don’t:

• talk about your niche. Name it. Clearly and concisely.
• try to be all things to all people. The whole point of a niche is to include only certain people and leave others out.

Niche Statement Formula for Success

There are just four things you need to include in your niche statement:

• Your niche
• Their problem
• Your solution
• Your promise

Stated simply, the niche statement formula: niche + problem + solution + promise = success.

Here’s what it looks like in more detail:

I/we work with __________________________(your niche),
who haven’t/need to ____________________ (their problem).
If you’re ready to/it’s time to _____________ (your solution),
I/we can/will ___________________________ (your promise).

Here’s what it looks like when it’s fleshed-out:

“I work with women starting up home-based businesses for the very first time (niche) who are feeling both excited and overwhelmed at the prospect and haven’t a clue where to begin (problem). If you are ready to take the first steps toward owning your own business (solution), I can help you decide what business would be best for you, identify your target niche, and get your business ready to launch (promise).”

There are so many things to do when starting up a new business. The “to do” list is endless. Don’t sabotage your new business start-up by neglecting to write your niche statement. Follow these guidelines, and use the niche statement formula to announce your unique selling position to the world. Then get your target niche’s attention, and get ahead of the competition.

* * * * *

About: Dr. Susan L. Reid helps entrepreneurial women worldwide become successful small business owners. Get a jump on figuring out what business would be perfect for you to live and work anywhere in the world with “Doing What You Love: Multiple Streams of Passion” free PDF at http://www.SuccessfulSmallBizOwners.com.

From Small Business Trends

How to Define Your Niche for Your New Business

As a small business coach and consultant to entrepreneurial women starting up businesses worldwide, I have found the 2008 Olympic Games to be both personally and professionally inspiring.

This year’s Olympic Games are a great model of success for small business owners. From the impressively choreographed opening ceremony to the individual and team competitions, the Olympics are full of powerful examples of what it means to be a successful small business owner in the world today.

15 Ways the Olympics Exemplify Success for Small Business Owners

1. Be consistent. Become the very best you can be. Then deliver that level of excellence time and time again. Whether your event is table tennis, kayaking, or Taekwondo, practice your shot, stroke, or move until you can do it consistently well.
2. Be disciplined. Nothing takes the place of discipline. Not hard work. Not a perfect physique. Not even luck. Getting up each day and committing yourself to your improvement and the betterment of your sport is what it takes to win gold.
3. Come back from defeat. Don’t let defeat keep you down. Whether you have fallen from your horse, cracked your head on the diving board, or tripped while running, get back up. Keep going.
4. It takes a team to raise a champion. Even an athlete competing in an individual sport does not do so alone. Behind your success stands a whole team of supporters raising you up.
5. Listen to your inner knowing. Tune out the crowd. Whether they cheer or boo, go inward. Don’t listen to what others say. Tune into your strong inner knower, what I call your Inner Samurai, and let that be your guide.
6. Pay attention to details. The slightest nuance will add or deduct tenths of a point. Pay attention to details. You can bet that’s what your competitors are doing.
7. Stay the course. No matter how long it takes, stay the course. Don’t give up on yourself, your vision, or your goal. So what if it takes many years to realize your dream? The feeling of achievement cannot be measured in years.
8. Do your personal best, no matter what. Even with water in your goggles, sun glare in your eyes, and fists flying at you, do your best. Then be proud that you did.
9. Have a game plan. Have a game plan and stick with it. Know how many strokes you need before the flip turn, how many paces between each hurdle, and when to pull up on your horse to clear the gate.
10. Be strong. Be strong physically, mentally, and emotionally. In spirit, thought, and word. Stand strong. Land strong. Stay strong.
11. Have heart. Have heart and don’t be afraid to show it. Scream, shout, and cheer your way to success. Put your heart into everything you do.
12. Finish what you start. Even if you know you are coming in dead last, finish the race. Complete what you’ve started. Let the world know you mean business.
13. Work with your nerves. Not against them. Nerves mean you care a lot about something. Embrace them. Let them fuel you toward greatness.
14. Prove them wrong. When you hear negative things said about you, rejoice! These negative words are a powerful ally adding fuel to your inner fire. There’s nothing quite so sweet as proving you can do what others say you cannot.
15. Leave a legacy. The Olympic athletes have shown the world that they know they are fencing, boxing, or rowing for more than themselves. They do this for their country. For those who have gone before and for those who come after them. For all that is right and good in the world of competition.

With gold, silver and bronze medals at stake and bragging rights for the taking, this year’s Olympics are much more than just Games. Within each event, on every team, and in every individual athlete, you’ll find a shining example of what it means to be a successful small business owner in the world today.

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About: Dr. Susan L. Reid helps entrepreneurial women worldwide become successful small business owners. Get a jump on figuring out what business would be perfect for you to live and work anywhere in the world with “Doing What You Love: Multiple Streams of Passion” free PDF at http://www.SuccessfulSmallBizOwners.com

From Small Business Trends

The Olympics for Small Business Owners

Is this You?

An Accidental Pren-her is a woman who finds herself starting up a business for the very first time. Surprised, to say the least, because she never thought she ever would, nor had she, ever before, seriously considered doing so. Yet, here she stands, wagging her head in disbelief as she begins her journey (the journey that so many women have taken before her) from Accidental Pren-her to entrepreneurial woman.

What had she been doing with her life before she began her journey? Perhaps she had been climbing the competitive corporate ladder or entrenched in the Ivory Tower of academia. Maybe she had managed a non-profit arts organization, been a political activist, or a stay-at-home mother. At one time, she had been happy doing what she was doing. Then something happened. What happened? Something unexpected that changed her life. An influence so powerful that it is now shaping who she is, how she views her life, and what she wants to offer to the world.

For some women, this all began when they were downsized. For others, when they were fired from their job or quit on their own thinking: there must be more to life than this! Still others began the entrepreneurial journey after their children left home. The loss of a parent or other loved one causes some women to rethink their life, as does divorce, near fatal accidents, recovery from a serious illness, and spiritual awakenings.

Top 10 Characteristics of Accidental Female Entrepreneurs

Have you had something happen in your life that has changed the way you are viewing life? Is there an Accidental Pren-her within you yearning to be set free? Read the following list. If you can say, “Yes, that’s me!” to eight or more, there’s a good chance you are an Accidental Pren-her.

1. You want what you are doing to make a difference in the world.

2. You like living life on your own terms.

3. You are not easily defeated. Where others see failure, you see opportunity.

4. You are a creative and innovative thinker.

5. You are a calculated risk-taker. Fear tempers you, not stop you.

6. You are highly self-motivated.

7. You have a wide range of interests and do many things well.

8. You engaged in entrepreneurial activities as a child.

9. You like making money.

10. You have an abundance of sustainable energy.

If you are an Accidental Pren-her, or one in the making, what you’ve just read will have a resonating rightness about it, deep within you. So, what do you do with all this rightness?

The first thing is to understand that everything in life happens for a reason and that there are no accidents — only “accidents by design.”  The second thing is that whenever the unexpected lands in your path, it is always a stepping-stone to where you intend to go.  Thirdly, there are no train-wrecks, only trains changing tracks.

So, take your accident and turn it into a design. Read all you can about other women entrepreneurs who have gone before you, and seek out mentors who can support your vision and help you along the way.

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About: Dr. Susan L. Reid is a business coach and consultant for entrepreneurial women starting up businesses. She is the author of “Discovering Your Inner Samurai: The Entrepreneurial Woman’s Journey to Business Success.” Her website is Alkamae.com.

From Small Business Trends

How Many of You Became Entrepreneurs Accidentally?