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Extensive Research On How To Build Wealth From The Comfort Of Your Own Home.
Extensive Research On How To Build Wealth From The Comfort Of Your Own Home.
Mar 27th
We’re bad it. And marketers know this.
Consider: you’re buying a $30,000 car and you have the option of upgrading the stereo to the 18 speaker, 100 watt version for just $500 more. Should you?
Or perhaps you’re considering two jobs, one that you love and one that pays $2,000 more. Which to choose?
Or…
You are lucky enough to be able to choose between two colleges. One, the one with the nice campus and slightly more famous name, will cost your parents (and your long-term debt) about $200,000 for four years, and the other (”lesser” school) has offered you a full scholarship.
Which should you take?
In a surprisingly large number of cases, we take the stereo, even though we’d never buy a nice stereo at home, or we choose to “go with our heart because college is so important” and pick the expensive college. (This is, of course, a good choice to have to make, as most people can’t possibly find the money).
Here’s one reason we mess up: Money is just a number.
Comparing dreams of a great stereo (four years of driving long distances, listening to great music!) compared with the daily reminder of our cheapness makes picking the better stereo feel easier. After all, we’re not giving up anything but a number.
The college case is even more clear. $200,000 is a number that’s big, sure, but it doesn’t have much substance. It’s not a number we play with or encounter very often. The feeling about the story of compromise involving something tied up in our self-esteem, though, that feeling is something we deal with daily.
Here’s how to undo the self-marketing. Stop using numbers.
You can have the stereo if you give up going to Starbucks every workday for the next year and a half. Worth it?
If you go to the free school, you can drive there in a brand new Mini convertible, and every summer you can spend $25,000 on a top-of-the-line internship/experience, and you can create a jazz series and pay your favorite musicians to come to campus to play for you and your fifty coolest friends, and you can have Herbie Hancock give you piano lessons and you can still have enough money left over to live without debt for a year after you graduate while you look for the perfect gig…
Suddenly, you’re not comparing “this is my dream,” with a number that means very little. You’re comparing one version of your dream with another version.
View full post on Seth’s Blog
Mar 11th
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Mar 3rd
What entrepreneur or business owner doesn’t want to work less and make more? Count me in! Like you, I’m always looking for ways to improve my business process and my systems so that I can spend more time doing what I love, serving my customers and developing new products.
Sometime in November, I realized that something had to change. My business and my life were starting to turn into a whirlwind of activity without necessarily generating a whirlwind of profit. That was my signal to take a closer look into how I was spending my time and how I could turn some of my processes into systems.
Almost as if by magic, an envelope showed up at my doorstep from a publicist for the book Work the System: The Simple Mechanics of Making More and Working Less by Sam Carpenter (@workthesystem). I have to admit that the first thing that crossed my mind was that this was a book about finding ways to get ahead of the corporate game. Instead, this is a book about how to get around the obstacles your business has acquired over time that keep it from making money and keep you chained to your desk.
Necessity is the Mother of Systems Thinking
Many of you will see too much of yourselves in Sam. Overworked, stressed, not enough family time and not enough money. The defining moment in Sam’s life was the night he knew he wouldn’t be able to make payroll. In that quiet moment of knowing and not knowing, he gave up his struggle and had an insight that would change everything. Sam realized that everything was really a system. And that systems actually work fairly well:
“ Overall the systems of this world work absurdly well : 99.9% of the time everything works just fine, and even the parts we consider to be imperfect are that way because we think these parts should be different from what they are.”
And on this fateful evening in 1999, Sam Carpenter embarked on a mission to understand, define and redefine the systems that were operating in his business. The next day, he went to work and enrolled his employees to jump on board. And, as they say, the rest is history.
What Small Business Owners and Managers Can Learn From Work the System
The key lesson in Work the System is to accept that you are living a system and the results you’re getting right now are an output of that system. If you like the results – do nothing. If you don’t like the results, stop and focus on the process and make adjustments that will improve efficiency and simply life easier.
Another wonderful and counter-intuitive lesson is that documenting your process actually frees up time and money. Because so many business owners started their business to get away from corporate bureaucracy, it seems insane to ask them to create a bureaucracy themselves. Documenting processes doesn’t have to be a morass of complexity. It’s simply a recipe for what works and the best and fastest way to do something. Carpenter points out that as long as you’re running your business by the seat of your pants, you’ll always be in the complexity of doing as if it were the first time. Once you’ve laid out the best process and documented it in a way that anyone can follow, you’ve freed yourself up to do other things and fix other areas of the company.
Your integrity drives everything. There is a subtle key to Sam Carpenter’s mistakes that he doesn’t say out loud, and yet is present throughout the book – integrity. When I say integrity, it doesn’t have as much to do with “honesty”, although that is part of it. When I say integrity, it’s the full meaning of the word – whole and complete; functioning properly. For example, when a machine is missing a part – it doesn’t work very well. When something has integrity, it is whole and complete – working properly. Sam’s company didn’t have integrity. There were parts that just weren’t working. Sam took the first step in restoring integrity when he realized that his company was a system and that everything he did created the results he experienced.
Sam Carpenter; Author, CEO, Apostle?
Maybe I’m going overboard by calling Sam Carpenter an apostle. But he would join a prestigious rank of systems evangelists that include the likes of Edward Deming, who taught the Japanese to improve their manufacturing and design processes using statistical process control. And in 1985, US manufacturers jumped aboard the systems and processes bandwagons.
Carpenter’s zeal and enthusiasm for the power of the system jump out from every page. The entire book is a story of Carpenter’s life, challenges, obstacles and epiphanies. Each chapter and each sentence is written in a way that yearns for you to get it, so that you, too can experience the joy and freedom that he’s created for himself.
Sam Carpenter is just like you. He’s a degreed engineer who got into business. He’s had his share of failure and success and now he wants to share what he’s learned.
Will Work the System Work?
If you’ve read eMyth, Four Hour Work Week and Built to Sell and you still haven’t created a system – you will find this book a great complement to what you’ve learned. I’m a fan of all these books and have gotten something out of each one. I haven’t fully systematized my business, but I get it and get the benefit of creating processes that free up my time and effort to work on my business.
If you’re currently spending each day treating each customer experience and each project as if it were unique – you need to read this book. You will see yourself in Sam and create a least a process or two that will free up your day.
If you don’t think you can do it because you don’t know how to create processes and procedures, don’t worry because there are actual examples in the back of the book that you can use.
At a time in our economy where you need to squeeze blood from a stone for every penny of profit, Work the System might just be your secret weapon for freedom and profitability.
Work the System Will Free Up Time and Money
View full post on Small Business News, Tips, Advice – Small Business Trends
Feb 28th
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Feb 15th
It’s hard enough to compete with big-box retailers without paying big-box prices for the things that make your brick-and-mortar run smoothly. But 14the great thing about being a small retail business is that you’re more nimble and able to experiment with more affordable products and services.

These tools will help you save money that you can put back into your business:
1. Cell Phone
We’re past needing complicated PBX phone systems, especially for stores. If you’re the only employee, a cell phone with a large minute plan should be enough to handle business calls. If you have other staff, set up a free Google Voice number and route it to whoever’s working.
Money-Saving Tip: Set up your Google Voice to direct calls to the appropriate person. For example, you can record store hours and address, then callers can push 1 to speak to a sales associate, 2 for accounting, etc.
2. Signage
In this era of DIY, it’s become unnecessary to hire a designer and fancy printer for your signage needs. Use an online option like StoreSigns, which offers stock photos and signs you can customize for a fraction of the cost of more traditional options.
Money-Saving Tip: Buy holiday-themed signs when they’re on sale and reuse each year.
3. Mobile Payments
On a recent trip to San Francisco, I noticed many restaurants and shops accepting credit cards through an iPad and Square card reader. While mobile payment technology was born in the Bay area, it’s not exclusive to it. You can avoid costly merchant card processing service fees and equipment rental or purchase by paying a per-transaction fee and using a card reader.
Money-Saving Tip: Investing in an iPad to process your credit card transactions may seem like a large expense, so make sure it serves multiple functions. After hours you can use an inventory app or update social media using the tablet.
4. Social Media
Twitter. Facebook. G+. Foursquare. Daily Deals. We’ve got a deluge of social media marketing options, and they’re all free or inexpensive to use. As consumers become more accustomed to checking business Facebook Pages for promotions and specials, retailers are jumping at the chance to connect with customers more affordably.
Money-Saving Tip: Daily deal sites are struggling to get new clientele. Negotiate the rate you’ll get paid on a deal with newer deal sites that don’t have the clout of Groupon, and help promote the deal to get foot traffic.
5. Online Sales
When in-store sales are slow, it’s great to have the backup of selling online. But who wants to set up and manage an online store? Etsy, eBay and Amazon offer built-in ecommerce solutions; all you have to do is provide the product. They take a fee on every sale, of course, but working through channels that do their own marketing makes the cost of entry ridiculously low.
Money-Saving Tip: This isn’t so much a money-saving tip as it is a money-making. If you’re an Amazon seller, using Amazon Fulfillment (they ship your products from their locations) can get you more business, because people can use their Free Prime Shipping service with your products.
Mobile Payment Photo via Shutterstock
5 Money Saving Tools for Retail
View full post on Small Business News, Tips, Advice – Small Business Trends
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