Money Matters and More

A laid off worker, a career-changer, and someone entering the workforce for the first time.  In each of the scenarios should the job-hunting strategies be the same?

Not according to workplace speaker and author, Alexandra Levit, who joined me for a live interview on the Money Matters & More show earlier this month.  (To hear the interview, click onto the BlogTalkRadio box in the upper right corner of this page.) Levit’s most recent book is, New Job, New You, A Guide to Reinventing Yourself in a Bright New Career.

Here are some of the strategies she recommended:

Laid-Off Workers: Use the layoff as an opportunity to pursue a course you wouldn’t have had the courage to follow. Take a step back and do a self-assessment.  Ask yourself where you might find meaningful, satisfying work, before sending out resumes to prospective employers.

Career-Changers: Keep expectations low with regard to salary and title.  Entering a new field may mean less money and a less senior title.  Remember that any job in your new field will be a door opener for greater opportunities.   When you bring a large body of knowledge and experience to the new job, the right employer will recognize that and ultimately reward you for it.

New to the Workforce: Be pragmatic about your search for your first job.  Make your goal that of finding a position that will enable you to acquire transferable skills, and take you across a wide variety of industries, like those in sales, marketing and project management.

Have these strategies worked for you?  What other tips would be effective?

What 5 questions should be asked by every prospective entrepreneur before taking the leap, and starting a new business?

That’s what J. C. Hayward, CBS anchor on WUSA 9 in Washington, DC asked me in the Money Monday segment of the noontime news broadcast yesterday.    (To see the interview, click on www.wusa9.com/dvmourtime.) Here’s what we covered in a nutshell:

1.  Am I really energized and excited about my business idea?

The novelty of even the most wonderful new ideas or products can wear off pretty quickly if you’ve got few customers or weak sales.  The one factor that can keep you going during the startup phase and beyond is an unshakable belief in what you’re doing.  If you’re not excited about what you’re selling after awhile, it’ll probably be pretty hard to muster up the enthusiasm needed to market it to prospective customers.

2. How do I feel about risk? No matter how much you love your business idea, it’s important to remember that launching a business is a gamble.  Part of the excitement of becoming an entrepreneur is taking a new path to create a unique product or service.  At the same time, it’s critically important to anticipate the possibility of obstacles along the way.

3. Do I make decisions easily and effectively? Owning and operating a business is by nature one decision-making process after another, ie. How should you bring your product to market?,  How much should you charge?  How do you know if it’s time to expand your business?–the list goes on.   Test out your comfort level in this role.

4. How well do I multitask? As the sole proprietor of a business, you’ll need to be able to do a variety of tasks, including managing the books, serving as chief salesperson and marketer of  the product or service.  Try to hone the skills you’ll need before you get going.

5. What’s Plan B?  Even well-run businesses can lose their way.  Figuring out in advance what to do if things don’t go according to “Plan A” can save you alot of headaches and help shorten the time it takes for you to recover–both financially and emotionally.

That’s as much as we could fit into a 2 minute interview, but there are, of course others.   What other tips can you offer to budding entrepreneurs?  Email me at moneymattersandmore@yahoo.com, or communicate via Facebook (moneymattersandmore) or Twitter (moneyandmore).

Thanks.

(Photo credit:

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On today’s edition of CBS Affiliate WUSA 9′s newscast at 12 noon in Washington, DC, I’ll be joining award-winning anchor J. C. Hayward to discuss “Launching a Dream Business in 2010.” If you or anyone you know has ever considered becoming an entrepreneur, be sure to tune in for the 5 most important tips to consider before you get started.  (Hint: It doesn’t have anything to do with the product or service you’d like to sell.)

To check out the segment online, check out the video player at www.wusa9.com/dvmourtime.

Got questions?  Email me at moneymattersandmore@yahoo.com, or check out Twitter @moneyandmore, or Facebook, @moneymattersandmore.

Thanks.

(Photo from bing.com)

Alexandra Levit, a leading workplace author and speaker works to “help people find meaningful jobs – quickly and simply – and to succeed beyond measure once they get there.”  And that’s why I’ve asked her to join me tomorrow at 10:30 a.m. for a live conversation on the  Money Matters & More radio show, via BlogTalkRadio.com.

Levit pens the Wall Street Journal’s Reinvent column each week, helping job hunters, career changers (and those who want to remain where they are) finesse the world of work.  She’s also the author of several popular books covering employment issues.   A frequent media spokesperson addressing workplace issues, Levit  has been featured in thousands of outlets, including the New York Times, USA Today, National Public Radio and ABC News.

Have questions for Alexandra Levit about your career crisis or job quandary?  Be sure to email them to me at moneymattersandmore@yahoo.com before 8:00 a.m. tomorrow morning.

And please remember to tune in to the Money Matters & More show at 10:30 a.m. tomorrow, January 6th on BlogTalkRadio.com/money-matters–more.

The excitement and anticipation we feel with the arrival of each new year deserves to be felt beyond the month of January.  Yet, too often the exhilaration and confidence disappear far too soon.  Whether it’s losing pounds, exercising more, starting new careers, breaking bad habits, or anything else, we seem to expend alot of time dwelling on what’s not going so well.

To help new and prospective entrepreneurs who want to break out of the cycle, this year the Money Matters and More blog will focus on helping readers live as if we all threw out the resolutions. No more bemoaning previous failures or disappointments (“Look how far my business hasn’t gotten”, or “Why didn’t things work out the way I planned?”).

Money Matters and More will serve as a coach, encouraging readers to develop a new perspective, one that emphasizes just how well we do the things that we do. Interviews with experts will provide solid advice and strategies for getting ahead in the current economy without getting burned out or discouraged.

How’s that for a no-resolution New Year?

(Photo by Luigi Diamanti)

The holiday season seems to offer the perfect time to dream, especially for the perenially optimistic, hopeful entrepreneur.  Whether due to a job layoff, or the desire to fulfill a lifelong dream, alot of us are seriously considering the possibility of starting a new business in 2010.

But given the challenges of developing a successful new business in today’s economic climate, before taking the leap, to smooth the business-launching process, it’s important to be able to answer the following 7 key questions.  How many can you answer?

Can I afford to start a new business?

Do I have a business plan?

Do I have the skills to sell my idea effectively?

Am I a risk-taker, able to handle rejection?

Am I prepared to work long hours (not just 9 to 5)?

Do I have a business mentor or coach to offer guidance?

What’s my “Plan B,” in case things don’t go according to plan?

For more information on preparing to launch a business, be sure to check out my interview on the Let’s Talk Live show in the DC region, airing on News Channel 8 between 12 noon and 1:00 p.m. today.  (On the web:  letstalklive@news8.net)

Want to add your own pre-launch stories to the Money Matters and More blog?  Email us at moneymattersandmore@yahoo.com, or contact us at Facebook (moneymattersandmore) or Twitter (moneyandmore)

Have a great week!

When I headed into the chain bookstore earlier this week with a CD to return, I’d already prepared myself.  Although it was still securely wrapped in its packaging, the store policy was firm: no refund without a receipt.  I’d accepted what I figured was a flawed policy.  What I wasn’t prepared for was the refusal of the store to offer anything at all.

Without a receipt, the manager told me, after 14 days, there would be no return of any kind.  Without a receipt, I wondered, how did they know it was more than 14 days?

So–happy holidays to me…

The manager on duty tried to take the sting out of the store’s refusal by suggesting that I consider regifting my purchase.

Aargh!  I could hardly keep from gnashing my teeth together.

At just about this point, I started wondering if anything could get this store to change its mind.

How could this be handled from an entrepreneur’s vantage point?  Certainly the ability to return an “unreturnable” purchase is the equivalent of winning over a very tough customer.

A tough customer requires convincing, a reason to change his position from his/hers to yours.  Making it worth it to that customer can make that happen. Figuring out what charm offensive–not guile, not deceit–but a kind of rapport that puts you both on the same (forgive the sports metaphor) team can move mountains.

And in my case, a member of the sales staff.

And that’s exactly the approach I took.  I sought out a different manager and explained my situation in a calm, reasonable fashion.  And I let her know that I was a regular customer.  And to my surprise and delight, it worked.

A store credit that another manager had said wasn’t possible.

What charm offensive combined with a valuable asset (in this case, my value as a return customer) has worked for you?

Email us so we can share your story.

(Photo used by permission from freeimage4u.com)

How can entrepreneurs inhabit the brain of a client, without surgery?

That’s a question many business leaders find themselves asking, especially during a period of slow economic growth. Inhabiting the brain of a client simply means figuring out what it is that your company needs to do to get or keep that client.  Achieving that really comes down to answering the following basic questions:

What is my product or service and how will it benefit clients?  What problem does it solve?

What makes my product or service better than what’s currently on the market?

Have I positioned myself to sell what I offer, or am I prepared to sell a product or service that the customer wants to buy?

The answers to these questions make up part of what marketers call the Unique Selling Proposition (USP).  The folks at Entrepreneur.com define the USP this way:

The factor or consideration presented by a seller as the reason that one product or service is different from and better than that of the competition.

So, there’s good news.  Once we clarify that objective, inhabiting the mind of a client really is (forgive the pun), a no-brainer.

What’s your USP?  Let us know with an email to moneymattersandmore@yahoo.com and we’ll share them.

Have a great week!

How to be like Starbucks, without the coffee?  For the entrepreneur striving to stand out amidst so many other competitors, it really all comes down to one thing:  value.  Exactly how much value do customers or clients attach to your product or service?

That’s it.  Simply get into the mind of the people you want to reach and identify what they value, and the path to successful business is yours. Take your own ego out of the equation and cater to the ego of your audience.  It’s what the barista at during a recent Starbucks visit demonstrated so clearly yesterday.

The moment anyone entered the small Starbucks, the barista-nurse midwife-phlebotomist-recent grad greeted each customer with all the charm and warmth of an old friend.  She cheerfully offered to fill orders–in my case for (free) hot water for my tea (which incidentally I purchased from one of their coffee shop competitors, Barnes & Noble)–and went out of her way to be pleasant.  She shared her delight with finding a job with Starbucks, even though finding a more long-term goal was to find a position as a nurse midwife or something else she’d been trained to do in school.  Clearly she was making the most of her time at Starbucks, and the result was a more appealing experience for the store’s patrons.

And as most of us can attest, the value of simply making the effort to be pleasant these days in the midst of high job unemployment and overall unease, being pleasant is very underrated.

So where’s the success model?

Just this:  I don’t drink coffee, bring my own stash of tea, and yet I ended up buying a bottle of Ethos water (at a cost three times as much as the grocery store brand.)  Why?  I was thirsty, and Starbucks offered me value:  in the form of cheerfulness, a clean, comfortable workspace, and bottled water (that was associated with a humanitarian mission).

That’s why I keep going back.

So ask yourself: As a new or established entrepreneur, what will make your customers or clients keep coming back to your business?  Or if you’re in the planning stages of starting a new business, what do businesses you patronize need to know about  what you value to be successful?

Please leave a comment below, or email me at moneymattersandmore@yahoo.com.  We can share your comments with other readers.

Next blog topic:  How to inhabit the mind of your clients (without surgery)

Have a great week!

The Wow Factor.  What is it and how and why do we all need it?

It’s the question we’re asking today, Week 2 of the Who Wants to Be an Entrepreneur? project.  We’re gathering useful information for anyone who ever wanted to become an entrepreneur (or at least succeed like one.)

This week I interviewed corporate coach, Frances Cole Jones, of Cole Media Management for answers to questions like, What can make a company stand out amidst all the competition? What will make a job seeker irresistible to a prospective employer?

(Her answer:  It’s just three words.)

The Wow Factor.

The Wow Factor–that seemingly intangible quality that all successful business leaders and professionals need to be successful.

In her new book, The Wow Factor, The 33 Things You Must (and Must Not) Do To Guarantee Your Edge in Today’s Business World (Ballantine Books), Jones makes a very compelling case for the need to acquire that seemingly intangible quality.

Here are a few of her recommendations:  (To hear today’s interview, click onto the box in the top right hand corner of this page, where you’ll find the BlogTalkRadio media player.)

– Know how to answer the question, “What are your weaknesses?” in a job interview (without jeopardizing your chances);

– Adopt a Renaissance Attitude” in your quest to achieve success

– Learn “The Six Layers of Why”–what they are and why we need to know them if we’re interviewing, branding or selling

How can you get The Wow Factor?

To learn more how-tos about ways to get ahead in the current economic climate, check in later this week.

And if you’ve got questions, please email us at moneymattersandmore@yahoo.com.

Have a great week!