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Tuesday, November 17, 2009
6:00 pm – 9:00 pm

La Pomme
37 West 26th Street, New York, NY

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Come join The New York Enterprise Report as we celebrate NYC area women business leaders. This event is the culmination of an exclusive video series, In Her Shoes, in which three successful women entrepreneurs share their experiences and lessons learned. The three featured entrepreneurs (see below) will be honored at the reception.

Meet the featured entrepreneurs as well as other like-minded business owners from throughout the tri-state area. In a casual setting attendees will be able to network with business owners from top companies and find your next client. Drinks and hors d’ouvres will be served.

1. Do your homework and discover who the best partners will be for your venture. Just as everyone isn’t your customer, every business owner will not be the right joint venture partner. Don’t just send out blanket requests to everyone you know or have ever heard of. Select a business with a customer base that compliments your own.

2. Don’t expect that someone will want to do a JV with you just for “exposure.” The venture should fit into your partner’s marketing strategy or it won’t be worth it for them. You may not mind throwing everything out there to see what sticks, but that may not be their idea of a beneficial venture.

3. When you approach a potential JV partner, have all of your materials ready. For instance, if you’re launching a product have everything prepared before you contact prospective partners. It’s hard to take someone seriously if their website is under construction or their product isn’t ready. There’s nothing wrong with lining up partners prior to your launch, but it doesn’t send a good message if you’re throwing things together at the last minute.

4. Be prepared to invest in order to make your venture a success. I’ve encountered a few business owners who expected their JV partners to provide all of the materials – including donating free products and services. Don’t use a joint venture as a way to profit from someone else’s work. It’s called a “joint” venture, which means both parties are contributing.

5. Don’t forget to follow through and follow up. Things don’t always go as planned, but if you’ve promised to provide information don’t leave your partner hanging. Let them know what’s going on and follow through as soon as possible. The venture may be a one-time event, but it doesn’t hurt to check in afterwards and find out how things went for your partner (and let them know how it worked for you too).

Joint ventures are a way to build your business while you build relationships. You don’t have to go it alone during challenging economic times. When you join forces with other entrepreneurs, there are always opportunities for growth.

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Attracting new clients in this economy can be a challenge. You need to be creative and change or adapt the way you get those new clients.
You heard it before “if you always do the same things, you will always get the same results.”

I have a simple, easy to implement strategy you can use to see instant results:
Package your product or service to respond to your market without the obstacle of price. Lots of small business owners struggle to sell their products because they are afraid or unconformable speaking about price. I can relate, I was one of them few years ago.
When I started my French consulting business, helping French people start their businesses in the US, at first I didn’t really know how much to charge for my services. I could not price compare because no one else was offering the same service. I decided to start with a price of $99 based on my assumption that people wouldn’t be willing to pay more. During my consultations, when asked about price, I would shyly state the price of $99, but quickly state that if that was too much, there was still room to negotiate. Surprisingly, even though I thought the price was very low, I was struggling to get clients. Then with the help of one of my coaches, I learned to become more confident. I was a sales person selling other people’s products for years, but for the first time I had to sell my own services and it was a completely different story.
I was offering services that would save them time and money so if I could package my services the value would be understood. And if the value is understood, I have to speak about price. That is exactly what I did and I raised my fees from $99 to $1000 within two years. And today my higher priced package is around $10.000 and I have absolutely no problem getting clients.

Why?

I know the exact value of my experience and what I can offer my clients. I don’t have to promote my services, my clients are doing it for me. Testimonials have much more value than any ad in a newspaper. Plus I found a way to do consultation without ever mentioning price. I offer a 30-minute free consultation, to study the clients’ cases, and give them information on what to do and how to do it. During those 30 minutes, the new clients get a chance to know more about me and the services I can offer; they can see that I know what I am talking about and that I am their problem solver. In fact, I was in their shoes a few years ago – a foreigner starting a business in the US. I worked my way through with success and taught hundreds of people to do the same and I can teach them exactly what to do. At the end of the consultation, when they ask me for my price. I don’t mention any number, I just tell them that I will send them a report with all the steps they will need to start their business, including the various packages I offer.

We do not discuss price during the first consultation. If I haven’t heard back after the consultation, I wait a couple of weeks and then call back and ask if they have any questions about the report, or additional questions about their business. Once again, I still don’t mention any price. They have already received the offers; they know the cost of my services and are ready to start the process; and they realize during the free consultation the value of my one-stop-shop service, and how much time and money they will save by having me guide them.
If you speak about the price right away, you may lose clients because of the fees, therefore, change the way you present your services. If you offer various packages, your potential clients will always find one that fits their needs. If they don’t have a big budget, they will get the basic package, and if they want more they will take or upgrade to your premium or silver or gold packages.
The most important is to attract them to your funnel, and have various products or services to upsell and bring them to the next level, which means more money for you and more products for them.
Using this strategy, you never have to mention any price, so you can concentrate more on the value that you are providing. If you are passionate about your business, you won’t have any problem explaining the value and the benefit of working with you.

Repackage your products or services and make at least three different offers so that the price will never be an issue again. By using this strategy, I don’t have to take my shy voice, and I don’t negotiate any of my prices anymore. I know about the value of my services, and I am very confident about them. If someone does not see the value, they are not the right client for me. Read my article “The Power of NO to Attract More Clients” to learn how to attract only the right clients for your business, even if you have to say no and refuse clients some time.

To learn more strategies like this one, on How To Turn More Networking Contacts Into Business Boosting Clients In 7 Simple Steps check http://www.powerofnetworkingsecrets.com/

About the Author

Biba F. Pédron, Business & Marketing Consultant, founder of Biba4Network, also knows as “The Connection Queen”, helps solo-entrepreneurs to maximize their networking results and reveal proven strategies to attract more clients and double your business with simple but effective networking system.Biba is the author of “Start Your Dream Business Today! The Proven 11 Steps to Start and Grow Your Own Business”. And “Power of Networking Secrets” a program teaching you step-by-step how to turn more networking contacts into business boosting clients in 7 simple steps.

To receive her free e-course “15 Ways to Maximize Your Networking Secrets” and Free Audio “Networking Know How” visit http://www.theconnectionqueen.com

I am originally from Tajikistan and moved, with my family, to the United States when I was 13. A war was breaking out in my country and we left to escape the invading Taliban. When we arrived in our “new country” I was filled with excitement and excited about all of the possibilities. I didn’t speak the language and was unfamiliar with the culture but was ready to take on all of the new challenges ahead. I always love a good challenge.

What was your education experience? Was it helpful?

In college, I studied Computer Science but when I started, I didn’t even know how to turn on a computer…I thought that computer programming was how to use Microsoft Word and Microsoft Excel really well…boy was I in for a surprise, but, I studied hard and focused all of my attention on learning the material, and finished with my Bachelors of Science in Computer Science in three years, instead of the standard four.

My college experience taught me how to think about technology. Because technology changes all the time, it is important to learn and understand how and why everything works and how people might use it.  This skill helped me remain flexible and adaptable in my technological pursuits.

What was your professional experience?

I started my career in a “Big Financial Corporation” working on the brokerage application and managing their site. It was bureaucratic and slow to get things done and I had developed a “need for speed”…I jumped at the chance to work at Webgrrls International to be quick and nimble and to be at the forefront of the women’s movement online.

DigitalWoman

When did you establish DigitalWoman?
I started Digital Woman in 2004

How did you spot the opportunity? How did it surface?

Digital Woman started really as a result of being the chapter leader of NYC Webgrrls…and an experienced programmer…by taking a leadership role in my community, there was a lot of opportunity that found me and as a result I was able to build my client base and my practice.

How did you fit your business goals with your lifestyle requirements?

I work a lot…many, many hours…but I find that if you are doing what you enjoy and are working with clients that you really care about, the pressure and commitment don’t seem like a compromise.

What kind of financing did you have?

With a consulting company, you start your business with your first client, I always make sure that I am providing real value and that every project is profitable and that has provided me the financing to grow and build the infrastructure that I need to continue to grow.

Did you want to have partners or do it solo? Why?

I already had a ton on my plate with the work that I was doing for Webgrrls International and we had just finished a major piece of the technical infrastructure and I felt that I had some time and could take on a new outside project or two. I started just by offering my services to some companies that needed technical help. So I guess I did it solo…with a ton of support from my mentor, Kevin Kennedy, the CEO of Webgrrls International.

How did any outside advisors make a difference in your company?

My mentor, Kevin Kennedy, made sure that I had the proper systems in place to ensure that projects ran smoothly, and helped with the processes and procedures and pricing and negotiating etc…I can’t say enough about how valuable it is for entrepreneurs to seek the guidance from mentors and advisors…from those who have been there and know the steps to take to ensure smooth and steady growth.

Tell us about your business and the services you provide

Digital Woman is a full-service Web development consulting practice and I help companies achieve their online business goals.

Webgrrls International

You are also the CTO of Webgrrls International, could you tell us about it and who should join?

Webgrrls International is a networking organization of professional women who are in or interested in technology and business. Webgrrls started in April 1995 and now has chapters across the country and around the world.

By joining Webgrrls International you are becoming part of an amazing group of women who have segmented themselves as wanting to be a part of our mission of helping women succeed…the rising tide raises all boats.

Webgrrls Small Business Members are from many different industries including technology, education, design, human resources, entertainment, Internet…and our regular members are from all Industries. They are writers, web designers, programmers, graphic designers, sales and marketing people, photographers, recruiters, lawyers and financial people, freelancers and independent contractors…as technology has become so pervasive, our members come from all walks of life to network and connect, find job leads and clients, and to propel their careers and businesses forward.

What has been your experience as the NYC Webgrrls International Chapter Leader?

The chapter leader role has provided me with so many benefits and opportunities both professionally and personally…Webgrrls International and the chapter leader role of NYC Webgrrls is a built in networking platform. As I facilitate the networking meetings and workshops I get the opportunity to meet some really amazing women who are building their companies and careers and connect with them and possibly work with them, if I can help. It is almost by default that my role as a chapter leader is also a marketing tool for my services.

What were/are the most demanding conflicts or trade-offs you face while managing your business, leading a networking group and balancing your life?

I would have to say that I don’t get to or take the time to travel as much for personal reasons as I would like to, but in my role, I am going to most of the major industry events in great cities, and I am meeting many of the people who are on the front lines of technology and who are shaping how our society uses technology…so, how can I complain about that?

What are your plans for the future?

Continue on my current path of growth and get to the point where I can start investing in other women’s entrepreneurial endeavors, helping them achieve the success they are after.

What things do you find personally rewarding and satisfying as an entrepreneur?

I like the freedom that it offers – the freedom to create, the freedom to chart a path, the freedom to strive and achieve and the freedom to define success how ever I define it.

What advice would you give an aspiring IT entrepreneur?

Never fear what you don’t know and I think that bears repeating…Never fear what you don’t know…if you can learn quickly and learn on the fly, you can achieve anything you set your mind to.

 Seizing Opportunities

This issue of WomenandBiz.com’s theme encourages our readers to Seize Opportunities. Could you share an example of an opportunity you pursued that made a difference in your business?

It happened after I built the Webgrrls JobBank…I had just finished the project and right after the celebration, Kevin Kennedy, Webgrrls CEO, said “congratulations, well done…now go sell it…”.  I said: “What? Are you Kidding?”.  I had an immense fear of sales.  But I realized that sales skill will be important in my career and seized the opportunity to learn.  So, I wrote a sales pitch script and started cold calling.

But I went about it the wrong way….

As soon as I got the “right person” on the other line, I would start reading from my sales pitch script and after hearing “Stop calling me”, “Don’t call me again”, “Where did you get my number,” for about the 50th time, I was on the verge of exploding with anger at myself. What was I doing wrong?  After some introspection, I realized that the rejection I was receiving was not personally directed at me, it was just that I caught the people at the wrong time, and I didn’t really listen to what they needed and how the JobBank can address THEIR needs. So I decided to relax and just have a conversation with the person. I learned that by listening to people, I can address their needs better. This experience has also taught me how to present information effectively and how to build a conversation and finally, I started making some progress.  I was actually having pleasant conversations with potential customers and Believe it or not, I made my first sale.

This opportunity to try something so foreign to me, sales, helped me learn what sales and business development were all about and from that I also learned more about client management and listening and so much more…seizing upon the opportunity to face my fears about sales and address my insecurities helped me become a better business person.

For more information about Nelly Yusupova and her business, please visit www.digitalwoman.com.

Have you taken the time to consider new strategic alliances or joint ventures? How about new and creative ways to promote your business? Or have you thought of developing a new package, creating new combos, adding products to your line? Are you certified as a Woman Business Enterprise? Where can you find the new opportunity to pursue?

Here are a few opportunities for you:

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Feel free to post your comments and share with us how going back to school is helping you build your business. You can also reach us by filling out the Contact us form on the About us page.

Success,

Elisa Balabram

Founder and Editor, WomenandBiz.com

To download an excerpt of my new book or to purchase it, please visit:“Ask Others, Trust Yourself: The Entrepreneurial Woman Key’s to Success”.

They think that because social media and social networking tools are so easy to use AND because so many “experts” are telling them to “get their feet wet” and “just get started”, that they fall headlong into trouble. They start to get poor results (if any results at all), they don’t get the feedback they’re seeking, they waste oodles of time and then their story changes to, “social media doesn’t work”.

Here’s what’s at the root of that problem: I call it “social media haystacking”.

Social media haystacking is the process of adding social media activities to an already full schedule and then beginning to slowly, but surely, resent social media as yet “another thing you have to do”. Women entrepreneurs are particularly susceptible to this pitfall because we usually have 90 other things we already “have to” do!

Think, for a moment, about a haystack and its formation; or consider a pile of objects. When that pile gets too high, what happens? Whatever is on top falls off. Whatever was added last falls off — and if social media is the thing that you’ve added last to your “to do” pile, what do you think is the first thing to come tumbling down? Yes. Social media.

The solution to haystacking is simple. Before you start using social media, take a look at your marketing mix – the handful of activities you’re doing to market your company. I can guarantee you that something isn’t working. It might be direct mail, SEO, PPC/PPA, your email newsletter. Whatever it is, recognize it for what it is – an effort that’s not getting you the results you wanted for whatever reason. Take the time and energy you were investing into what’s NOT working and invest that time into getting started with social media activities.

It sounds simple, but it works. The best ideas usually are not complex at all.

Stop doing what’s NOT working and start doing something that has the potential to have lasting impact on both your business and your clients.

——————–

Lena L. West is the CEO of xynoMedia http://www.xynoMedia.com a company that helps growing companies profit from the power of social media & the Internet.

1.  This past summer we launched a Barter for Art page on www.artnsoulinc.com where people looking for art can trade their stuff for art.  OR, where artists looking to trade their art can find stuff they need.  Right now, we have an artist named Faust who is looking for a laptop computer.  He does amazing wood carvings.  If you’ve got stuff to trade, let us know.  You can even trade art for art.  I just traded Faust my art for his…

2.  In July, we launched a Business of Art Mastermind Group where artists have a dialogue once a month about all sorts of things like how to market their art, social networking, Blogs, copyrights, watermarks, and so much more.

3.  In August, we launched Art n Soul TV.  We film artists in their own studios with Pilot Girl Productions.  We have some awesome footage and we’re looking for sponsors to keep the project going.

What’s my point?  Re-inventing yourself keeps your business fresh and keeps your clients and others creating a buzz around your business.  Re-inventing yourself keeps your competitors on their toes and keeps bringing new sources of revenue into your business.   You never know what is just going to really take off if you let things remain stagnant.   Re-inventing yourself means grabbing opportunities when they come my way.  If I don’t act right away, someone else will. I am cautiously impulsive if there is such a thing.  I’ve learned over the years not to be too impulsive and reactionary and I’ve also learned to act quickly once I know the facts and the idea seems plausible.  The funny part is that I always listen to my intuition and I always know that when doors start to open about the idea that I’m in a place of synchronicity and I keep going.  When I start to hit too many roadblocks, I take a pause to make sure I’m going in the right direction.   As always, I’m open to your ideas for my business so feel free to contact me and share your thoughts.

Form

The different forms of business relationships — from simple referral relationship to actual merger – vary in their levels of interdependence and obligation to their partners. It is crucial to know where you fit along the spectrum.

In a referral relationship, neither side has any ongoing business obligation to the other, nor do the companies become interdependent. Picture an accountant and a lawyer: they are in different industries, and the clients of each can benefit from the services the other provides. A referral relationship is simply the open-ended desire to get and give client leads.

A strategic alliance brings the two sides closer contractually, like a preferred trading partner arrangement. Consider a marketing strategy firm that wants to attract a Fortune 1000 clientele. A strategic alliance with a graphic design company could give the strategist access to greater capabilities – by developing the print materials for the product branding campaign it recommends, for example – than it would ordinarily have “in-house.” Like a referral relationship, the companies remain financially and structurally independent. However, they will use the other on a regular basis (sometimes exclusively) for particular kinds of projects or work.

Along the continuum is the joint venture, where two companies will form a single, separate entity for a specific purpose or discrete project. A property developer may join with a construction company to develop a particular parcel of real estate. Or, look at Walt Disney Pictures and Pixar Animation Studios, which combined forces to produce “The Incredibles” in 2004. Joint ventures may also have an equity interest in the project, rather than simply earning a fee (as in a strategic alliance).

At the end of the spectrum is a merger, where two separate companies combine all their resources to result in one company. Unraveling a merger involves selling off the assets of the whole enterprise.

Function

Once the parties agree on the strategic alliance as the best form for reaching their goals, they need to clarify their respective functions. Who will do what? What are the deadlines? How will each be accountable to the other if it does not perform as expected? To what extent are they obligated to work together? Is this relationship exclusive? These questions are essential to understanding whether the alliance is really in your best interests.

Finances

Especially with strategic alliances, it’s essential to “follow the money.” Not only does the relationship need to make financial sense, but also the financial flow needs to be tracked. First, the parties need to plan out the relationship so that it will be profitable. Many entrepreneurs don’t explore this issue. They may under price themselves to win over the strategic alliance partner (or the ultimate business), and as a result, become contractually hitched to a sinkhole. Second, the parties should document how and when payments will be made from the client to the alliance and from the alliance to its partners. They should also establish what costs and expenses each would bear either jointly or separately.

Fights

A strategic alliance requires strategies both for resolving disputes within the alliance relationship and for exiting the alliance itself. Eternal optimists, entrepreneurs tend to focus on how things will work instead of “what if they don’t.” “Fights,” disagreements, differences of opinion range from the more mundane (“how do we handle the client pitch?”) to the more profound (“is this really a workable relationship?”). For example, how will the alliance partners handle work in progress – and the receipt of post-breakup payments — if one of them leaves? How will they protect intellectual property, trade secrets, client lists, or other confidential information that might have been created or exposed during the relationship? Should they permit the solicitation of the other’s clients? And if disagreements become intractable, how (court or ADR?) and where (geographically) will they be resolved?

Strategic alliances are all the rage. But like all other business relationships, and as entrepreneurs often learn the hard way, they require careful forethought to make sure they are the right fit. And the input of accounting and legal advisors won’t hurt either. So before you become bamboozled by the jargon, make sure that there is a viable strategy behind every strategic alliance you create.

Nina Kaufman is an award-winning business attorney, speaker, and Entrepreneur online columnist and blogger.  For your free copy of her Internet, Law & You Power Pack, visit www.GreatBusinessLawResources.com.

It is not a coincidence that coaching clients in communication techniques is one of the most passionate areas of my practice.  These techniques help them become fully aware of the power and impact of language and how successful communication contributes to their successes in life.

So, what do we mean by effective communication.  After all we do it every day and don’t think about it.  We put our mouth in gear and talk.  But are we communicating successfully, or are we just talking?

By putting good communication skills into use, you can communicate and influence at every level in your business workplace, from support staff to senior executives. The formula is the same.

Lee Iacocca said: “We can have brilliant ideas, but if you can’t get them across, your ideas won’t get you anywhere”.

How many of us have had brilliant ideas that went nowhere because we couldn’t sell them to our boss, manager or client? What would it be like if you had the ability to influence or persuade another to embrace that idea and set it in motion?

What gets in the way of making sure your message is clearly and well understood?

Here are some basic communication skills to start putting into use immediately:

Express Yourself

• Provide all the necessary information taking care not to omit important parts of the message.
• Be direct, clear and congruent…Content, voice, tone and body language should all say the same thing.

Listen Actively

• Active listening means one thing. Hear what people are really saying.
• How well we listen has a major impact on our effectiveness in our jobs and on the quality of our relationships with others. 
• FACT: People only hear 25-50% of what we say and they hear it within the first 2½ to 5 minutes of the communication.

Become Aware of Body Language

• Our body language makes up 50% of the impact of our message.  We need to ensure that our non verbal impression matches what we are saying.

Ask Powerful Questions

• Asking questions shows that we are listening. This tool allows the listener to glean new information and to get clarity on what is being said.

Focus, Focus, Focus

• In this digital age, we function as sick patients hooked up to the life support of our blackberries, e‑mails, cell phones and text messages; without them, we would die an abrupt death.
• What we give up in this mobile, high tech age is the ability to focus. Instead distractions constantly keep us from listening to what others are saying and severely limit our ability to focus on details in our life.
• Without distractions and multitasking we become more productive and effective.

How would your professional and personal life change if you could successfully master these basic skills?

Can you afford not to make the investment to improve your communication?  You will be amazed at the startling turn your life will take once you learn how to communicate effectively and successfully.

Did you know that the most important asset to a company or to a client is a person who communicates effectively, someone who has the ability to influence and persuade others?

Are you communicating successfully and effectively to influence others or are you just talking?