Don't Forget the Little Guy

I want to rant about businesses and the decision’s YOU shouldn’t make. When you make it big, don’t ever forget your customers. This applies to the largest AND the smallest accounts. If it was not for these sales or services, you would not be where you are.

I currently work in hotel and this mindset has gone out the window. Don’t get me wrong, I enjoy my job but do not agree with some of the decisions that are made. One that I have tried to wrap my head around for years is our nightclub. The hotel has an absolutely beautiful pool with sand and cabanas around it for lounging. This is a great atmosphere throughout the day but then it turns to a nightclub at night. When you think of nightclub, what comes to mind?

• R&B Music
• Dancing
• Alcohol
• Bass
• Drama (mainly because of the alcohol)

We have that plus some. The biggest problem is that the hotel acts as an amphitheater and the bass reverberates up the hotel. This means that if you face the pool, your room pulsates with the music. This can go until 2am. We do our best to inform guests checking in about the events and put people that don’t mind overlooking the area. This usually only occurs on Friday and Saturday but it happened tonight as well. It is a Tuesday and people are not expecting a party out their window. We have guests here for business, conventions, or just passing through town. Most of which will be waking up early. I do not understand why we would have an event that would risk pissing these people off. Will the ticket sales be higher than the amount of compensation given?

As a business, why would you EVER put yourself in a position to willingly compensate anyone? Here is an idea, host the nightclub inside for a couple of months. Compensation will not be necessary and more revenue will be earned. If the pool must be the area for the nightclub, install something that can reduce the bass from the hotel. This seems like a win-win situation if the nightclub could run while the hotel doesn’t comp every other guest.

Thanks for listening to me rant. Please learn from this. Customers are the foundation of your company. Don’t ruin connections or burn these bridges. Refer to my previous blog about customer service and how it can bite you in the ass. Remember that you do not know the connections these small customers may have in their inner circle. Treat every customer as you are glad to have earned their business.

Don’t let Customer Service bite you in the Ass

We have all been victim to disastrous customer service at one point in our lives. This could be from the horrible food server to the people at DMV. The stories are endless. Let me hear some of your mishaps if you are willing to share. We have all heard the saying that word of mouth is the most powerful form of marketing. Will your business be on the positive side of this incredible marketing tool?

Let me give you a brief story that I have encountered. As many of you know, I live in Reno. Sushi is very popular in this small town. I have tried many sushi restaurants and have only liked a few. Overall, the food tastes about the same at each place but it all comes down to the customer service I have received. The restaurant I encourage the most is the sushi at one of the local hotels. They will seat you almost immediately and provide warm wet naps to clean your hands. Drinks are replenished half way through and ice cream is served at the end. These small gestures are a huge way to differentiate themselves from the competition.

Now this was a positive customer service encounter. Think how far a negative encounter will bring you in today’s Web 2.0 world. Have you heard of the song “United breaks guitars” by David Carroll. To make a long story short, this musician traveled United airlines and his guitar got damaged because of negligent employees. Mr. Carroll was given the runaround over and over until his claim was finally “denied” by Ms. Irlweg of United. Mr. Carroll realized he had lost a losing battle and decided to tell everyone about his situation. His final reply to Ms. Irlweg said that he would write 3 songs about United and broadcast them on YouTube. He was hoping to get 1 million hits by the end of the year. Well he has far exceeded that and United has a huge PR problem now. Check out the video below.



Don’t think that business is just about buying or selling a product. People will buy from people they like. When you open those doors, how will your company stand out? Will it be on the positive side of the spectrum or the negative?

What kind of business will you start?

It is best to know what type of business you would like to start. This is more of an informative blog of the types of business you can create. There are a couple different types of businesses that can be made for your start-up company.

Web-based business-
A web-based business is one that operates entirely online. This can be an inexpensive way of having a company and getting your name out there. This requires supervision of your site to make sure all malfunctions are corrected in a timely manner. Marketing skills are encouraged in order to get business on the web.

Brick-and-mortar business-
A brick-and-mortar business is the classic mom and pop store. This is where you have a physical location and people can interact with you face-to-face. If you know what type of business you want to start, remember Location, Location, Location! High customer service is recommended to differentiate with your competition. This is great for repairs and other hands-on services.

Click-and-mortar business-
This is the way to go. Click-and-mortar businesses incorporate everything from above. You have a physical location along with an online presence. This allows you to market yourself online and locally. You can then get a taste of everything and see what works for you. Adjustments can be made as needed. If the web is capturing more business, then more services may need to be available online or vice versa.

Knowing what type of business you want to create is a good start. This can then be incorporated into your business plan as you look for financing. Don’t be afraid to start off with one type at first and get the others later. Growth for any business takes time, effort, and money.

Good luck in your endeavors!

What Are You Willing To Give Up

Based on a lot of the information I have received from other entrepreneurs and even some blogs, hardships will definitely come if this is the path you choose. I am not saying this to complain about all the hard work it takes to actually be successful but to illustrate some of what may have to be given up. It is up to you if you choose this path and feel you are prepared enough for it.

Can you give up family? This depends on where you are in life. I am in my early 20’s and know I want to have a wife and children. I know that it is not the best time to be having children. These wants and desires will have to wait because I want to bring children into a more stable environment. I picture it is much easier to be an entrepreneur when you rely on yourself. If your children depend on you, make sure you are prepared to handle their needs.

Can you give up certain friends? Some un-driven friends may try to bring your ideas or motivation down because misery loves company. A friend should support you even if they do not agree with you. There is a difference with constructive criticism and criticism. I am told that you surround yourself with like individuals. Choose your friends wisely.

Can you give up security? Will you be able to give up that steady weekly paycheck you currently receive from the company you work for? This is an enormous step if you are. Money will not be readily available in the beginning. The “luxuries” of life may have to be put away for awhile. Sleep will be reduced, TV is very rare, dinner at fancy restaurants almost nil, or even that extra DVD you saw in the aisle at the store will have to remain on the shelf. This may sound extremely discouraging but it is not meant to be. You are building your foundation. If you spend the time and effort in making it solid, your structure can be there for a long time. If you build an unstable foundation, your structure is more likely to fall.

These are just a few of the items that may have to be given up if you choose this path. Be well-prepared and ready to take on the world!

Can you be labeled an Entrepreneur?

I recently read Rebecca Holmstrom’s blog and it got me thinking. Her blog was about being a photographer. She was a little frustrated because anyone can claim to be a photographer because of today’s digital age. Here is an excerpt from her blog.

“Now, I am not saying that photographers cannot be self taught. However, if you honestly want to call yourself a photographer, I urge you to pick up some books from the library, or take a photography class, and truly learn the technological, scholarly, and formal aspects of the art form."

Take a look at her blog and let her know what you may think.

http://rlholmstrom.wordpress.com/

She goes into more depth further in the article. I understand her argument and agree for the most part about self-proclaimed labels in certain aspects of today’s society. Photography does not have a test similar to the BAR or MCAT exams to be labeled as a photographer. I started to apply this concept to entrepreneurship.

An entrepreneur doesn’t have to take an entry exam. A business degree is not needed or any other form of formal education. An entrepreneur does not have any specific restrictions. It can be anyone. Many small businesses start out because someone wants to get out of their job because of pay, management, politics, etc. The reasons for starting your own business can be endless.

All I am saying is that this is an available opportunity for anyone. If you see something you can do better, you’re an entrepreneur. If you see an itch for the public that needs to be scratched, you’re an entrepreneur. If you can create value from very little, you’re an entrepreneur. Do not ever let titles hold you back from anything you ever want to do. Embrace the idea that YOU can become an entrepreneur!!!!

Financing Is Available-

Finding the money to start a business can be extremely difficult. Most entrepreneurs start out with their own saving along with the three F’s. The three F’s are Friends, Family, and Fools. This is usually where the start-up funds come from for most small businesses. This is an okay start but there are even better ways to get financing.

Financing can come from a multitude of places. To name a few, banks, venture capitalists, angel investors, government programs, and even private companies. In a recent article I read, Accion had just begun a partnership with the Boston Beer Company, brewer of Samuel Adams beers, to help small food and beverage businesses get funding and free advice. There are resources available, just make sure you keep your eyes open.

The best place to start would be the Small Business Administration. They should be able to point you in the right direction. I have been told financing from banks can be rather difficult during these economic times. Venture capitalists will invest in your business if it is sound. Most venture capitalists will invest for a short period of time for a high return. You have to understand that this is a high-risk for investors.

Angel investing is a completely different story. Angel investors are usually in it for the long haul. Some are willing to be with you for 5 years while your company grows. The do have a high rate of return but most are not there just for the money. They are also there to give you advice. I had the luxury of speaking to an angel investor who worked locally in Reno at Sierra Angels. One great point that I liked is they will put your business plan into their database. This allows all other angel investment companies the ability to look it over. Some investing may not be from the people you present your plan to but from other organizations nationwide.

Financing can be just around the corner; the trick is knowing which corner to turn. Do your research on government grants or private companies. Ask around and involve that network that you have been building up!

Networking- The Beginning to Making Connections

Networking is incredibly important in business and in order to be an entrepreneur. Making these business connections can be extremely beneficial to someone that is entering uncharted territory. An individual can build the framework of their business by the people they may know. They may be able to get their supplier through a friend of a friend, good employees through another friend, or great marketing advice from another. The possibilities are endless.

Where to network-
To answer this question simply, everywhere. Networking does not have to only happen at a networking event. Networking can be a series of any type of communication. In today’s business world, social platforms have become increasingly popular. Some of the many examples are Twitter, Facebook, MySpace, LinkedIn, and personal blogs. Other common networking places are career fairs and conferences.

How to network-
Before attending an event, know before hand who you would like to meet. Find out what you want to accomplish by attending the event. Overall, know what your goals are beforehand. Networking requires confidence but not arrogance. Keep this in mind when you approach someone to introduce yourself. It is encouraged to inquire about the person you are networking with and try not to boast about yourself. Do not push your business card onto someone, ease it through conversation. If you receive someone’s business card, keep in touch with that person. Do not let a connection grow too far apart.

On a side note- One of the most invaluable lessons I learned from Mary Groves, a business professor at University of Nevada Reno, is to send a quick e-mail to the contact. Mention some of the topics that were interesting. This will keep you fresh in their mind and help you stand out from other contacts.