December Seminars

Oh, I love TSBDC seminars soooo much!!!

QuickBooks Introduction for Small Businesses workshop of Volunteer State Community College's Tennessee Small Business Development Center, 9-12 p.m. Friday, December 4, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. $45, payable at the workshop.

Starting a Small Business workshop of Volunteer State Community College's Tennessee Small Business Development Center, 4-6 p.m. Tuesday, December 8, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. Free.

Social Media for Entrepreneurs workshop of Volunteer State Community College's Tennessee Small Business Development Center, 1-4:30 p.m. Thursday, December 10, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. $59, payable at the workshop. 

7 Habits of Highly Effective Entrepreneurs

Over the summer, I was chatting with a fella that was complaining about everything under the sun. We'll call him Mr. Grumpypants.  

"You can’t find good help anymore, the banks won’t lend money to the little guy, and customers don’t want to pay anything”, Mr. Grumpypants said.   He wanted to know how everyone else was “getting by.”

I told Mr. Grumpypants that effective entrepreneurs are doing the following, to “get by.”

1. Market relentlessly – This is not a once in a while thing and only when they have time.  It is all the time.  They have a marketing calendar and they stick to it! They schedule their social media posts with Hootsuite/Buffer, they attend at least one networking event per week, have coffee with strangers, and they follow up with their customers regularly.
2. Create a niche – They know that not everyone will be their customer.  They are good at what they do and they want people to know it.  Consider the legal and medical profession.  Would you go to a patent attorney for a defense case or a see a pediatrician for a heart procedure?
3. Read and respond to financial statements – They compare their Profit and Loss statement to last year’s P/L, the industry average, and their budget.  They also calculate a few key ratios, such as the current ratio, debt to equity, and track accounts receivable.
4. Reinvest in the business – They don’t buy that boat or take a trip to Hawaii - yet.  They take their profits and reinvest into the business until they reach their goal of being financially independent and fully managed.
5. Hire the best people and delegate – They have heard “If you want something done right, you have to do it yourself.”  They know that if you want to own your business longer than a few years, you learn to delegate and deal with imperfection.
6. Set goals and prioritize – They don’t run around putting out fires all day.  They set 2-3 goals annually, and set time aside to reach those goals.
7. Personal and professional development – They don’t spend all day staring at their magic phones mindlessly or catch up on every show ever made on Netflix.  They read books, attend conferences, and interact with their trade associations.

Don't be a Mr. Grumpypants during this Thankful Season and follow these seven habits to effectiveness!

November Seminars

Make LinkedIn a Part of Your Revenue Action Plan workshop of Volunteer State Community College's Tennessee Small Business Development Center, 9-11 a.m. Tuesday, October 27, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. $30 payable at the workshop.

5 Steps to Marketing Success workshop of Volunteer State Community College's Tennessee Small Business Development Center, 2-5 p.m. Wednesday, October 28 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. $25, payable at the workshop.

Starting a Small Business workshop of Volunteer State Community College's Tennessee Small Business Development Center, 4-6 p.m. Tuesday, November 10, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. Free.

Time Management and Goal Setting for your Small Business workshop of Volunteer State Community College's Tennessee Small Business Development Center, 9-11 a.m. Wednesday, November 18 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. $20, payable at the workshop.


QuickBooks Introduction for Small Businesses workshop of Volunteer State Community College's Tennessee Small Business Development Center, 9-12 p.m. Friday, December 4, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. $45, payable at the workshop. 

Preparing for Murphy’s Law

So this past weekend I watched my favorite college football team botch a 13 point lead in the 4^th quarter and lose the game in heartbreaking fashion.  They played too conservatively, made too many mistakes, and didn’t expect to win.  They make it hard to keep rooting for them.

So this past weekend I watched my favorite pro football team botch a 13 point lead in Copy and Paste, Copy and Paste, Copy and Paste, Copy and Paste, Copy and Paste, Copy and Paste, Copy and Paste, Copy and Paste, Copy and Paste, Copy and Paste, Copy and Paste, Copy and Paste.  

Yes, it happened just like that.  There is something bad that has crept into the DNA of Tennessee Football teams.

This happens to entrepreneurs as well.  There seems to be a black cloud that hovers over the head of particular business owners and busy professionals.  Not all of them or even a majority of them.  But too many of them.

Just like my favorite football teams, it appears to be self-inflicted.  Sure bad luck happens and Murphy’s Law is invoked.  And if you have never heard, Murphy’s Law states, if something can go wrong, it will go wrong.  Yes, that is the Debbie Downer version of life.

However, I have always heard that:

Good luck is where opportunity meets preparation.

It also appears that bad luck is where threats meet disorder.

So, if every time you:

• Get money saved for taxes, a piece of equipment breaks.
• Get all of your open positions filled, somebody quits.
• Find a marketing strategy that works, it suddenly dries up.

It may be time to better prepare for Murphy’s Law.  You can’t avoid it, but you can at least minimize Murphy and his black cloud.

• Begin a savings plan that includes you paying yourself first.  Once it becomes habit, you won’t even know you are doing it. 
• Always be on the lookout for talent.  Use your referrals, LinkedIn, and even check out your competitors for potential employees and have a list ready to roll when someone quits. 
• Make sure to consistently use 3-5 marketing strategies at all times.  You should review where your business is coming from, at least monthly, and tweak your strategies accordingly.

Again, this won’t solve all of your problems, but it will keep Murphy at bay.

Now for the football teams…I’m open to suggestions.

October Seminars

Starting a Small Business workshop of Volunteer State Community College's Tennessee Small Business Development Center, 4-6 p.m. Wednesday, October 14, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. Free.

Patents, Trademarks, Copyrights, and Trade Secrets for Entrepreneurs workshop of Volunteer State Community College's Tennessee Small Business Development Center, 9-11 a.m. Thursday, October 15, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. Free.

Make LinkedIn a Part of Your Revenue Action Plan workshop of Volunteer State Community College's Tennessee Small Business Development Center, 9-11 a.m. Tuesday, October 27, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. $30, payable at the workshop.


5 Steps to Marketing Success workshop of Volunteer State Community College's Tennessee Small Business Development Center, 2-5 p.m. Wednesday, October 28, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. $25, payable at the workshop.

If You Play with Snakes, You Will Get Bitten!

Those aren't all participation ribbons chief!

If you have ever listened to Dave Ramsey’s advice on using credit cards, you will know that he often says, “When you play with snakes, you will get bitten.”  He means that getting cute with credit cards will end up with you paying finance charges and piling up debt. 

This can also be said of slithery people and businesses. 

For example:

Pediatric Dentist A

I have always selected the cheaper dental insurance because I can be penny wise and pound foolish sometimes.  I then selected the behemoth pediatric dental practice, despite less than stellar online reviews.  See where I’m headed?

Well, lo and behold, my 6 year old had a few small cavities.

Despite lackluster interactions up to this point, (always had different dentists, different opinions, and little follow up), this pediatric practice was suddenly in full blown communication mode.  They told us we needed to schedule an appointment right away and have all of her molars capped!  ASAP!

Despite our reservations, we moved forward.   They were supposed to only do half of the teeth with cavities and schedule the remaining later, but they managed to do way more than what a 6 year old should have to withstand in one sitting.  We felt like we had been bitten!

Pediatric Dentist B

Luckily, my wife had the common sense (not me) to call and get a second opinion, before we moved forward with the slithery plan. 

The second pediatric dentistry, Just 4 Kids Teeth, told us that they would recommend just a few fillings and that crowns were not necessary.  They also said this was probably caused by reflux, but not by a lack of flossing as we were told by Dentist A.

The Just 4 Kids Teeth staff was very friendly, immediately went out of their way to build rapport, and there was constant communication and they even asked us for our feedback! 

This was another lesson learned in parenting.  I played with snakes and my 6 year old was bitten. 

This also holds true when running a business. 

• Think twice before hiring who person that has a very spotty resume and has an excuse why the last place “didn’t work out”
• Do not use that marketing firm that makes sweeping promises with very general ideas and no specific plan
• Stay away from that consultant who doesn’t really have any referrals and guarantees dramatic increases in revenue.
•  And do not even consider buying that piece of equipment with bad reviews.

George Phillips an attorney from Bone McAllester Norton says this:

“A bad contract with good people, will in most cases, work itself out because everyone will do what they should to try to make it work. 

The opposite is also true.  No matter how good the contract, no matter how hard your attorney works on it, it is still only as good as the person or business it is with.”

Maybe I should talk to George before I pick the kid’s orthodontist.

 

September Seminars

Starting a Small Business workshop of Volunteer State Community College's Tennessee Small Business Development Center, 4-6 p.m. Tuesday,
September 1, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. Free.

Content Creation for Social Media, Made Easy workshop of Volunteer State Community College's Tennessee Small Business Development Center, 9-11 a.m. Wednesday, September 16, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. $30, payable at the workshop.

QuickBooks Introduction for Small Businesses workshop of Volunteer State Community College's Tennessee Small Business Development Center, 9-12 p.m. Friday, September 18, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. $45, payable at the workshop.

4 Things You Are Too Old to Do!

“You’re only as old as you feel.  False: You're as old as how many times the Earth has revolved around the sun since you were born”. – Dwight Schurte

One of the benefits of entrepreneurship is being able to do what you want, when you want, and of course, nobody can tell you “you are too old to do that.”  

However, I have discovered that there are a few things that we may be too old to do.

For me, I am too old to wear my hat backwards, too old to let a football game ruin my day, and too old to giggle every time someone says “they do do that.”  All of which I still occasionally do.

My kids are the same way.  

• Ava is 6 years old.  She is too old to sit on the couch and yell for something to drink.  She is tall enough to reach the plastic cups and get water from the fridge.

• Lilly is 4 years old.  She is too old to get out of bed three times every night.  There is no reason for her to tell me that she has to go potty, that it is dark outside, or tell me she likes mermaids.

• Lane is 2 years old.  Well, he’s 2 so he gets a pass.  For now.

There are several things a business may be too old to do:

1. 1 year old business – This is too old to have an informal bookkeeping system.  The “shoebox of hope” may get you by for a month or two, but it is time to use QuickBooks, Xero, or Freshbooks so you can clearly understand where your business stands.

2. 5 year old business - This is too old to forgo employee handbooks, job descriptions, and on-going training for staff.  Simply letting everyone do “their own thing” may work for a while, however, a goal and direction for your business is necessary or it will be rudderless.

3. 10 year business – This is too old to have a significant amount of debt and no management structure.  Unless you want a haircut like mine, you will want to increase your equity and lessen your responsibility.

4. 20 year business – This is too old to lack a succession plan.  Succession planning is a must if you plan on retiring.  

So unless you are Betty White, there may be some things you are too old to do.

August Seminars

Starting a Small Business workshop of Volunteer State Community College's Tennessee Small Business Development Center, 4-6 p.m. Tuesday, August 4, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. Free.


5 Steps to Marketing Success workshop of Volunteer State Community College's Tennessee Small Business Development Center, 9-12 p.m. Friday, August 6, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. $25, payable at the workshop.

Social Media Intro for Entrepreneurs workshop of Volunteer State Community College's Tennessee Small Business Development Center, 9-11 a.m. Friday, August 26, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. Free. 

How to Dramatically Increase Your Sales without New Customers!

   Every year I spend an hour on the phone with the same giant corporation, which shall remain nameless, because every year they jack up my rate and add new services that I have never approved.     And every year, I call and threaten to cancel my services.  And every year they eventually remove the unwanted add-ons and lower my rate.  Did I say, this happens every year?

  The kicker is they lower my rate, to the same rate, they offer new customers!  Not existing customers they already have, but just for new customers.  Classy!

  Most of the businesses that I consult with have recurring customers.  Several of these businesses also focus on getting new customers, instead of focusing more on their existing customers.  I always advise them to focus on the existing customer first.  Why?

Check out this simple example:

Lane’s CPA Solutions

Lane is a CPA that wants desperately to grow his business.  The problem is he just doesn’t know who he should target or what he should do.

• Lane has 50 tax only clients (small businesses) at $500 each = $25,000/year

• Lane also has 10 of these clients, that use his other services (payroll, sales tax, bookkeeping) all         year long at $500/month = $60,000/year.

• Lane makes $85,000/year.   

Not Bad

• Since Lane wants to increase his revenue, he may be tempted to look for new tax clients.

• 5 new tax clients = $5,000 increase in revenue/year or now $90,000 revenue/year.  

Good

• However, he may instead find it easier and more lucrative to convert a few of these tax only               clients into monthly clients and not focus on new clients yet.

• 5 converted monthly clients at $500/month = $30,000 increase or now $115,000/year.

Better

• Also, what if Lane got each of his 10 existing monthly clients to spend just 20% more or                     $600/month by adding another service?  That would be an increase of $12,000/year with                   minimal effort to $127,000 revenue/year.

Best

  Okay, I said it was simple.  I didn’t say it was easy.  But you get the point.

• Do you have any semi-regular customers that could be converted into regular customers?

• Do you have any other fantastic products or services that your regular customers could use?

If so, you may be on your way to increasing your sales, without new customers.

If you want to meet one-on-one with the TSBDC and increase your sales, contact us today.

July Seminars

Starting a Small Business workshop of Volunteer State Community College's Tennessee Small Business Development Center, 4-6 p.m. Wednesday, July 1, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. Free.

QuickBooks Introduction for Small Businesses workshop of Volunteer State Community College's Tennessee Small Business Development Center, 9am-12 p.m. Friday, July 10, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. $45, payable at the workshop.

Financing the SBA Way workshop of Volunteer State Community College's Tennessee Small Business Development Center, 11am-12 p.m. Friday, July 24, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. Free.


5 Steps to Marketing Success workshop of Volunteer State Community College's Tennessee Small Business Development Center, 9am-12 p.m. Tuesday, August 4, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. $25, payable at the workshop. 

The Real Meaning of 14 Entrepreneur Buzzwords

These buzzwords are so mainstream

It’s been about 5 years since I looked at some business buzzwords.  A lot has changed in 5 years.  We have left the Great Recession and are now in a Golden Age of sorts in entrepreneurship.  With that Golden Age, you get new terminology.  You often hear these terms when dealing with any technology related business, but it is also creeping into all businesses, especially start-ups.

For example:

1. Stealth - I’m talented, but nobody knows it.  Actually, if you are stealth for a long time, you might not be that talented. 
2. Ninja - You can call yourself a Ninja, if you get past stealth mode.
3. Thought leader – I think this used to be an expert.  But then Malcolm Gladwell messed everythingup by saying you needed 10,000 hours in a particular practice area to be considered an expert.  So now you can just be a thought leader instead.
4. Rocking it - Doing something super good.
5. Crushing it – Doing something super-duper good.
6. Killing it - Doing something super-duper-duper good.
7. Ecosystem - Biologists use the term ecosystem to describe a community of organisms interacting in their environment.   Now the ecosystem can be any kind of grouping.
8. Pivot - If your ecosystem is suddenly not rocking, crushing, or killing it, you may need to pivot.  We used to say change or quit, but pivoting is more fun. 
9. Disruptive - After you pivot, hopefully you can be disruptive in an ecosystem.  In the early 2000’s this was game changer and in the 1990’s there was some reference to cheese being moved.
10. Content – Stuff, i.e., written stories, pictures, video, etc.
11. Curate – Borrowing other people’s stuff until you get your own stuff, i.e., written stories, pictures, video, etc.
12. Hack - A hack is a tip.  Now that I think of it, a hack used to be what you would call someone if they “curated” a lot, but never really gave anyone else credit, i.e. “He is such a hack!”
13. Big data – Everything has been digital since about 2002.  That means there is a lot of data out there.  A lot.  Like Petabyte big.  For example, if you can run “big data” on your laptop, that ain’t big data.
14. Internet of Things – The internet of things….means, uh…..well….you know, things on the internet?  Okay, there are only 13 Entrepreneur Definitions.  

Discussion question:

What are some other buzzwords that have gotten out of hand?  Tell me in the comment section.

How to Get Your Marketing “In-Shape”

Did you see that bright fiery ball in the sky?  Yep, it’s good to have our old friend, the sun, back.

It’s also that time of year for us to finally get in shape.  Sure we made that New Year’s Resolution, but you know how that goes.

And getting in shape usually consists of us getting mad and taking action.  No real plan, just action!  

• You get a gym membership
• You buy a NutriBullet and wipe out the produce section at Publix
• You exercise, watch what you eat, and take care of business.  Then you lose the weight.  You are proud.  You have  knocked out 10 lbs. in 10 weeks.

And then it happens.  You get a little too confident!  You take a few days off from the gym, eat some food you shouldn’t eat, and in a two week period you are back up 7-8 lbs.

You become convinced that this fitness thing just doesn’t work for you.  Maybe it’s genetics.  Maybe it’s your metabolism.  Maybe it’s the government!

The same thing happens in our marketing efforts when sales go down.  You get mad and you take action.  No real plan, just action!  

• You join a networking group
• You buy ad space and pay-per-clicks
• You beat down doors, make phone calls, and take care of business.  Then you increase revenue.  You are proud. You have increased sales 10% in 10 weeks.

And you get a little too confident!  You take a little time off from networking events, quit buying ads, forget to follow up with old clients and in a two week period you are sitting there with no clients.

You become convinced that this marketing thing just doesn’t work for you.  Maybe it’s the competition.  Maybe it’s your customers.  Maybe it’s the government!

The truth is we need to market our business consistently and not just when we get out of “shape.”

1. We have to decide how much we want to increase revenue, i.e. $20,000 in new sales this year.
2. We have to decide which marketing channels will reach our target market, i.e. trade shows, print ads, specific social  media platforms, prospecting, etc.
3. We have to schedule the marketing efforts to our calendar of choice; Outlook, Google Calendar, your phone, or    even your old school Day-Timer to schedule marketing activities.
4. We have to actually do the marketing and selling!
5. We have to track our sales to see where the sales are coming from, figure out which is getting the best response, rinse and repeat.

While this is not a guarantee for us to reach our sales goal, it makes it more likely to achieve than just getting mad and getting busy.

May Seminars

QuickBooks Introduction for Small Businesses workshop of Volunteer State Community College's Tennessee Small Business Development Center, 9-12 p.m. Friday, May 8, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. $45, payable at the workshop.

Starting a Small Business workshop of Volunteer State Community College's Tennessee Small Business Development Center, 4-6 p.m. Tuesday, May 12, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. Free.

Lunch-n-Learn: Financial Advice for Entrepreneurs workshop of Volunteer State Community College's Tennessee Small Business Development Center, 11a.m.-1 p.m. Wednesday, May 13, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. $15, a box lunch will be provided.

Social Media Digital Marketing Course workshop of Volunteer State Community College's Tennessee Small Business Development Center, 9-4 p.m. Friday, May 15, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. $99, payable at the workshop. 

4 Business Tips from THE WALKING DEAD

*Disclaimer

There are no real spoilers here.  If you are catching up on Walking Dead through Netflix, you can still read the article.  Or at least pretend to read it and tell me how great it was later.  

Also, I do not endorse zombie hunting, snacking on people, or openly carrying a crossbow.

 In case you have a life, The Walking Dead (TWD) is a TV show about a group of people that live through a zombie apocalypse and must now endure other survivors along the way. 

And now that Season 5 is officially over, we will have to wait until next year to find out more about the “Wolves” and tide ourselves over with the spinoff, Fear the Walking Dead.  Or heaven forbid, we could read a book, pay attention to our family, or even do community service.

Even though watching The Walking Dead has in no way improved my life, I have discovered some entrepreneurial nuggets along the way.

     1.       Be willing to change and adapt

TWD - Rick and his group are constantly on the move looking for new places to stay and new ways to defend themselves.  If they decided to stay on Hershel’s farm, because “that’s the way we‘ve always done it”, the show would have ended in Season 2.

Business – Businesses can’t get stuck in “the way we’ve always done it” mentality.  Customer demands, competition, technology, and the workforce are always evolving and we need to be ready to do the same.

     2.       Always check out the competition

TWD - The Prison Survivors, Woodbury Survivors, Terminus Survivors, Hospital Survivors, and the Alexandria Survivors all provided stiff competition to the regular survivors on The Walking Dead.  While it wasn't always necessary to eliminate the other survivors, Rick and his crew always had to deal with them.

Business - It may not be a necessity to eliminate your competition, however, you must know what sets you apart from them.  If you don’t know the difference between you and your competition, you your customers won’t either. 

     3.       Make sure you have plenty of resources, before making a move

TWD - Ammo, gas, and food are necessary resources in a post-apocalyptic world. 

Business - Cash, people, and time are necessary resources in an entrepreneurial world.  Make sure you have access to each before you open a new location, buy that new piece of equipment, and/or offer that new product or service.

     4.       Surround yourself with the best people

TWD - If it weren’t for Daryl, Michonne, and Carol the survivors may not be around any longer.  And maybe Glenn.  But not Eugene.  Eugene is worthless.

Business - The key to delegating and outsourcing is to work with good people.  Businesses need to interview and get good referrals and when hiring employees, independent contractors, and professional advisors.  The survivors even knew what three questions to ask in an interview.  If you just wing it you could end up with a bunch of Eugenes.

Discussion questions:

1. Who is your favorite Walking Dead character?
2. Why?
3. What is a good business tip you have used?

April Seminars

Starting a Small Business workshop of Volunteer State Community College's Tennessee Small Business Development Center, 4-6 p.m. Tuesday, April 14, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. Free.

Where's the Money; Women-Owned Small Business Contracting Workshop of Volunteer State Community College's Tennessee Small Business Development Center, 10:30 - 12:00 p.m., Tuesday, April 27, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. Free


Financing the SBA Way workshop of Volunteer State Community College's Tennessee Small Business Development Center, 1:30 -  2:30 p.m., Tuesday, April 27, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. Free

Lunch-n-Learn: Best Legal Advice for Your Small Business workshop of Volunteer State Community College's Tennessee Small Business Development Center, 11a.m.-1 p.m. Wednesday, April 29, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. $15, a box lunch will be provided. 

5 Snow Days vs 5 Years in Business

During the third week of February, we were snowed in for most of the week with three little ones. There were highs, lows, and other than checking a few emails, little work done.

Those 5 days reminded me of what it looks like for the first 5 years for many entrepreneurs starting out. 

Check out this comparison:

 5 Days at Home                                                    5 Years in Business

Day 1 – Sledding, hot cocoa, and snowmen	Year 1 – Freedom, excitement, and learning on the fly
Day 2 – Sledding with the neighbors, some hot cocoa, and snow angels	Year 2 – Hire employees, less excitement, and more learning on the fly
Day 3 – Tired of sledding, runny noses, and no hot cocoa	Year 3 – Fire employees, no excitement, and doing everything on the fly
Day 4 – Too cold to go out, lots of whining, and lots of Netflix	Year 4 – Too tired to sell, lots of whining, and lots of Netflix
Day 5 – Are you freaking kidding me…	Year 5 – Are you freaking kidding me…

In fact, the SBA estimates that 50% of businesses fail in the first 5 years.  Of course, if you are an optimist, that means that 50% of businesses succeed in the first 5 years!  Let’s look at the reasons and what to do about them.

1. Lack of Experience – You are going to be naturally stronger in some areas of your business than others, however, don’t take the weak areas for granted.  Take the time to read books, take classes for running a business, and keep up with trends in your industry.
2. Lack of Delegation –If you want something done right, you have to do it yourself.  If you want to own your business longer than a year, learn to delegate and deal with imperfection.
3. Lack of Capital (money) – Cash is still king, so before you make a purchase/expansion review your capital needs first.  Fill out a cash flow (not P/L statement) and identify shortfalls.
4. Lack of Planning – No, you don’t need a 50 page business plan.  You do need goals and a plan to reach those goals.  Decide where you want to be this time next year and create a game plan.
5. Lack of Marketing – Create a marketing calendar and stick to it! You should be marketing on a regular basis, even when you are busy.

     And if you ever get snowed in make sure to have plenty of groceries, a sled, and Netflix handy.

(A one minute recap of our week at home)

March Seminars

Starting a Small Business workshop of Volunteer State Community College's Tennessee Small Business Development Center, 4-6 p.m. Tuesday, March 10, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. Free.

Lunch-n-Learn: Best Mobile Apps for Your Small Business workshop of Volunteer State Community College's Tennessee Small Business Development Center, 11:30-1 p.m. Wednesday, March 11, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. $15, a box lunch will be provided.

Financing with Pathway Lending and Mid-Area Cumberland Development Corporation workshop of Volunteer State Community College's Tennessee Small Business Development Center, 3:00-  4:30 p.m.,Wednesday, March 24, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. Free


Lunch-n-Learn: How to Publish a Book workshop of Volunteer State Community College's Tennessee Small Business Development Center, 11:30-1 p.m. Wednesday, March 25, 1480 Nashville Pike, Gallatin, TN in Building 300. Registration is required. Reserve online. www.tsbdc.org. $15, a box lunch will be provided. 

TSBDC at Vol State - Lunch-n-Learn Series

Register for any of these Lunch-n-Learns by clicking the title of the workshop

(And yes, a lunch is included)

Lunch-n-Learn: Best Mobile Apps for Your Small Business  

Wednesday, March 11, 2015 11:30 AM to 1:00 PM

Location: Volunteer State Community College, Building 300

Speaker: Jim Butera - ITS Techs

Fee: $15, payable at the workshop

Lunch-n-Learn: How to Publish a Book  

Wednesday, March 25, 2015 11:30 AM to 1:00 PM

Location: Volunteer State Community College, Building 300

Speaker: Mike Towle - Win-Win Words

Fee: $15, payable at the workshop

Lunch-n-Learn: Best Legal Advice for Your Small Business  

Wednesday, April 29, 2015 11:00 AM to 1:00 PM

Location: Volunteer State Community College, Building 300

George Phillips - Bone McAllester Norton

Fee: $15 , payable at the workshop

Lunch-n-Learn: Financial Advice for Entrepreneurs  

Wednesday, May 13, 2015 11:30 AM to 1:00 PM

Location: Volunteer State Community College, Building 300

Paul Winkler - Paul Winkler, Inc.

Fee: $15, payable at the workshop