Home Wealth Project
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.
Feb 2nd
The bestselling ShipIt journal has surprised me in how much impact it has had on the teams that have used it. I ended up selling tens of thousands of them.
I have about 600 left and rather than pay warehousing fees, I lowered the price a whole bunch and will leave it that way until they are sold out. (The rest of the inventory is here). I don’t expect to reprint them, sorry.
Also, Jess Bachman’s Death and Taxes poster is available at a great bulk price for the next 28 hours at an already funded Kickstarter. I think every classroom and office ought to have one.
View full post on Seth’s Blog
Feb 2nd
How do your employees feel about their jobs? For a small business owner, the answer to this question is crucial. Employees who are happy at work and passionately engaged with their jobs are more loyal to their employers, more productive and just plain better for your business.

A recent study of employee job satisfaction and engagement has some useful insights for entrepreneurs. The Society for Human Resource Management’s 2011 Job Satisfaction and Engagement Research Report, which surveyed companies of all sizes in late 2011, found that while more than 75 percent of U.S. employees are satisfied with their jobs overall, there are some key areas of dissatisfaction.
Paying attention to these areas could mean the difference between keeping and losing valuable workers.
A whopping 83 percent of U.S. employees said that overall, they are satisfied with their current jobs. SHRM vice president for research Mark Schmit notes that in general, this percentage hasn’t changed significantly in the last 10 years. Schmit says:
“In general, people find ways to be satisfied at work.”
But while you might think that in a tough job market, people would feel that just having a job at all is reason to be satisfied, in reality the percentage of satisfied employees has decreased slightly since 2009.
One key area where employees are less than satisfied is career development. Only about 40 percent of respondents say they are satisfied with the career development and advancement opportunities at their current jobs.
For the first time, the survey also looked at employee engagement. Engagement differs from satisfaction. While satisfaction depends primarily on job security, engagement measures how committed employees are to the workplace and how connected they feel. When it comes to engagement, there’s room for improvement. Just 52 percent of employees feel completely engaged at work; only 53 percent say they enjoy going above and beyond what their jobs require.
While these aren’t horrible numbers, I’m sure you agree that having all of your employees fully engaged in their work is the ideal state. So how can you improve things?
Schmit theorizes the disengagement is because employees feel they aren’t being groomed for the future:
“Employees seem to be saying, “I’m not getting training or opportunities for development, so why would I volunteer to do extra things to advance my career by helping out the organization?”
Small business owners often worry that the only thing their employees care about is raises and other financial rewards—which are tough for a small business to offer in this economy. The good news from the SHRM findings is that training and advancement opportunities are easier to offer.
True, you may not have immediate advancement opportunities for employees. But you can offer training. Here are some ideas:
Are you worried that you’ll institute training efforts, only to see those employees leave for greener pastures? Dissatisfied employees will leave when the job market improves—whether you’ve trained them or not. Then you’ll have to train their replacements. Isn’t it better to invest the time and effort in the employees you have now and keep them on your team?
Engage with your employees, and their engagement will increase, too.
Employee Training Photo via Shutterstock
Employees Are Satisfied With Their Jobs: Or Are They?
View full post on Small Business News, Tips, Advice – Small Business Trends
Dec 30th
GTD, 18 minute plans, organized folders… none of them work as well as you’d like.
The reason is simple: you don’t want to get more done.
You’re afraid. Getting more done would mean exposing yourself to considerable risk, to crossing bridges, to putting things into the world. Which means failure.
The leap the lizard brain takes when confronting the opportunity is a simple formula: GTD=Failure.
Until you quiet the resistance and commit to actually shipping things that matter, all the productivity tips in the world aren’t going to make a real difference. And, it turns out, once you do make the commitment, the productivity tips aren’t that needed.
You don’t need a new plan for next year. You need a commitment.
View full post on Seth’s Blog
Dec 14th
Told you they were assorted.
View full post on Seth’s Blog
Dec 5th
Marketing is the business of promoting your product or service and connecting with your clients. It’s also the tools and the process that you use to get the buyers’ attention. Marketing is a conversation, and the better the communication, the better the relationship.
What is your marketing message?
Pay attention, because it’s wrapped up into everything that has anything to do with your business. Your logo, sound bites, Web content, press releases, website design and business cards all communicate a message about your business to your clients. And since these elements are saying so much about your company, you need to shape that conversation into something that matters.
To make the most of your marketing, Ivana Taylor suggests that you jumpstart your marketing with these four mix-and-match power tools:
She includes software suggestions to help you maximize your logo package and key ideas for using the “top 10 article” to generate leads for your company.
She also shows you how to transform your B2B website into a customer magnet because, as Ivana puts it:
“Your website is a huge budget-friendly untapped resource that you’ve been ignoring for too long.”
While her article targets the industrial and manufacturing sector, the website is a major marketing tool for most businesses – especially since the Internet is the modern-day Yellow Pages.
But marketing is only the first half of the equation.
I have noticed two things:
Marketing gets the attention, but your sales process advances the relationship by turning potential clients into customers.
Sales and marketing work together. The stronger the marketing, the easier it is to sell. But no matter how great the marketing is, sales is a process that has to be acknowledged, practiced and honored with repeated execution.
Diane Helbig shows us how not to approach a sales pitch. At the core she suggests that we get training:
“Whether you work for a company or own your own business, sales is a critical part of your success – or failure. You owe it to yourself to be sure you are trained effectively.”
But after we get the training, she tells us to practice on “non-ideal” clients. “Practice on the companies or people with which you don’t necessarily need to score a deal. You’ll be more relaxed, and you’ll get the chance to work out the kinks of your communication” before you get to your crucial prospects.
Following her process has the benefit of calming your nerves. Practice, and then deliver.
Image from Frannyanne/Shutterstock
Sales and Marketing Go Together, But They Are Not The Same Thing
View full post on Small Business News, Tips, Advice – Small Business Trends
Nov 19th
Sometimes the best thing you can do in a cartoon is point out a simple truth. These cartoons are incredibly rewarding to write, and they almost never fail to resonate with readers.
I was pondering that sort of writing one day when I decided it might be fun to have a character in a cartoon point out something seemingly mundane as if it were some new and profound insight.
It takes the presenter a bit to explain that people buying their stuff is good, but thank goodness he and his coworkers are figuring it out.
Benefits: They Come From Consumers
View full post on Small Business News, Tips, Advice – Small Business Trends
Nov 19th
Sometimes the best thing you can do in a cartoon is point out a simple truth. These cartoons are incredibly rewarding to write, and they almost never fail to resonate with readers.
I was pondering that sort of writing one day when I decided it might be fun to have a character in a cartoon point out something seemingly mundane as if it were some new and profound insight.
It takes the presenter a bit to explain that people buying their stuff is good, but thank goodness he and his coworkers are figuring it out.
Benefits: They Come From Consumers
View full post on Small Business News, Tips, Advice – Small Business Trends
Nov 18th
In a recent study, scientists combed the Earth looking for an elusive creature spoken of only in hushed voices over dimly-lit campfires and mostly-empty water coolers (didn’t someone tell Steve to replace that? Steve, come on man it’s your turn). Referred to colloquially as “A Good Boss” and scientifically as Notdouchebaginus Zeromicromanaginicus, scientists found this creature to be startlingly common. The important caveat was that satisfaction with one’s boss is highly correlated with income, meaning the more you make, the more you’re willing to put up with. For those of us making under $75,000 a year, our boss is more likely a person who makes the already unpleasant activity of working in an office that much more miserable. But anyone who’s had a terrible boss can attest that it’s not just the yelling, patronizing, or coming into work to find a giant steaming dump on your keyboard. The worst part is the Orwellian double-speak they obviously picked up from their more competent counterparts elsewhere and corrupted well beyond their original meaning. Phrases such as:

What they think it means:
Despite the stereotype of the ineffectual, demanding boss, there are plenty of totalitarian taskmasters out there that are very good at running things. Steve Jobs, for example, was notoriously demanding and unforgiving. In a business setting, you need someone who can set a clear vision for the company, punish employees who don’t live up to that vision, and generally be the dynamo that powers the whole process. Good examples of these types of bosses are often described as “hard, but fair” despite that phrase always sounding like a euphemism. Unfortunately your terrible boss saw these other good bosses and learned the easiest and most evident, but also the most wrong lesson: being a good boss means being demanding, and nothing else.
What it actually means: “I forgot about this”
For a variety of reasons, this phrase is particularly common in the financial industry. Usually, because of the speed at which the industry hums along 24 hours a day, you’ll hear it on a trading floor because someone literally needed something yesterday. Unfortunately, your terrible boss decided they want to flex their managerial muscles when something falls through the cracks (and something always falls through the cracks), so they spout this utterly meaningless phrase. If you’re having a hard time understanding why this command can be so frustrating, let’s lay out what usually happens because of its maddening vagueness:
Step 1: Terrible Boss says “I want it done, and I want it done yesterday!”
Step 2: Terrified employee asks for clarification, the boss yells the phrase again so as to appear bold and demanding
Step 3: Terrified employee thinks “Oh so this is my highest and most immediate priority”, and focuses only on this task to the exclusion of their other responsibilities
Step 3: Everyone wonders why nothing is getting done, but since they depend on Terrified Employee for a variety of responsibilities, they can’t finish their work
Step 4: Company grinds to a halt, Terrible Boss blames Terrified Employee for doing exactly what he was told to do
Step 5: Do not profit
It’s easy to look at that set of steps and thing “Well, Terrified Employee should have known not to neglect their other responsibilities.” This is true and you are right. But, as we all need money to buy food, shelter, and filthy filthy porn (just kidding, no one pays for porn), Terrified Employee works well in excess of 40 hours a week and this is likely to happen almost every day. Eventually, Pavlov and self-preservation kick in and make financially-ruined fools of us all.

What they think it means:
Anyone who’s worked in an office at a level above temp can tell you that “40 hours a week” is more of a weak guideline that will be curb-stomped and left for dead in a coffee-fueled rage on three hours of sleep in three days. Weeks easily stretch to 60, 70, and 80+ plus hours, and that’s just what’s expected to justify the gobs of money you hope to make. Believe it or not, this often pays off, as those low-level Analysts that stick it out frequently end up making more money than anyone under 35 should be trusted with. The reason they were able to do this was usually because their boss led by example, putting in insane hours themselves, and always carrying their work phone even though it made them look like a douche when they set two Blackberries on the table at dinner. In other words, it was a shared sacrifice based on mutual respect.
What it actually means: “I don’t have to pick up the phone when you call, you do”
First off, if your Terrible Boss honestly put in the long hours and hard work of the good bosses above, they likely don’t fall in to the Terrible Boss category. More than likely, they don’t work that hard, they just say they do. No one ever corrects them because, one, who’s going to call the boss lazy, and two, it allows everyone else to goof off with wilder abandon. The expectation for how much work will get done is lowered because everyone’s in on the “Man I work so hard [opens Farmville]” joke.
This isn’t the bad part. The bad part is that the Terrible boss will leave early, take long lunches, and generally faff about because when something needs to get done, he can always put it off or make someone else do it. He’s the boss like that. (A good boss doesn’t abuse this privilege, but we’re not talking about them). Except when he wants something done, you are expected to be on call 24/7 because you foolishly submitted to this charade so that you could browse Facebook and get paid for it. Now while the lazy employee deserves some blame here, and indeed for all of the failures mentioned in this list, the fish rots from the head, as they say.

What they think it means:
Everyone knows that person in the office. The one that puts in the extra hours, goes the extra mile, and who wows and charms both clients and coworkers. They are the drive shaft that makes the well-oiled engine of the company hum like a song. They are rare, but with enough searching and careful cultivation, they can be found. While a company needs so much more than a handful of superstars, often the sheer driving force of them will push quality and productivity up, inspiring employees and managers alike to work harder and better.
What it actually means: “We are so fundamentally fucked”
No superstar employee is going to fix a company that is already fundamentally broke, and if Terrible Boss even feels the need to utter this phrase, it usually is. First off, superstars are there to be had, but because they’re so good they are usually incredibly expensive. Second, even if you do manage to find a diamond in the rough, many of the company’s problems likely stem from the Terrible Boss herself. No employee, even an extremely capable one, can get much done when they are being, say, micromanaged, harassed, and given confusing priorities.
So when this phrase comes out of Terrible Boss’s mouth, it usually means something closer to “Everything is wrong. I don’t know how to fix it. I don’t possesses the self-awareness to fix myself. Let’s try to find someone to shift the responsibility on to”. And in her mind, it sounds like she’s calling for high-powered, hard-charging, silicon valley corporate culture instead of meekly drowning in a lack of perception.

What they think it means:
Of course, every office strives for perfection on every project. But here’s the thing, it is really, really hard to avoid the millions of mistakes that can get made every day. Reams and reams of business literature have been written on how to ensure quality of the highest degree. It often doesn’t involve working harder or more intensely, but putting into place the proper procedures to eliminate the most error-prone step of the process (that part is the humans…for now).
What it actually means: “I will micromanage this shit into the ground”
One of the biggest problems with Terrible Bosses is that a combination of arrogance and misguided good intentions frequently leads them to micromanage their employees. This creates the perverse incentive where employees end up tailoring projects, products and procedures exactly to their Terrible Boss’s specifications, instead of improving on them when the opportunity presents itself. The exacting nature of micromanaging also leads employees to shoot for the boss’s specifications, and no further. This is because the first thing out of Terrible Boss’s mouth when shown a project isn’t “What can we improve here?” or “Oh that’s interesting, what was the idea behind this?”. It’s usually more along the lines of “Why didn’t you do what I said?”
This is the result of the Terrible Boss wanting and demanding perfection, but not realizing that unless he is Steve Jobs or an OCD genius, he is going to miss things. And the harder he tries to control more of the process, the less responsibility employees will feel to double check themselves or, god forbid, innovate on top of Terrible Boss’s design. Ironically, shooting for perfection is worse in this scenario than shooting for “as good as we can do”, because Terrible Boss will have fewer chances to mess things up. More importantly, employees will be responsible for their own slice of the project, meaning if something goes wrong they don’t have the excuse of “I just did what you told me”, and a productive conversation about what went wrong and how to prevent it in the future can ensue.

What they think it means:
As boring as they are, regular updates and progress reports are important to make sure everyone is on the same page, time doesn’t get wasted working on overlapping areas of a project, and the boss — who is likely overseeing many teams simultaneously — knows what is going on. A good boss keeps up to date with the reports, comments on the progress, and addresses problem areas. This is all really basic stuff.
What it actually means: “I will never read this”
Unfortunately, if your boss actually kept abreast of what was going on and tried to address problems, he wouldn’t be terrible. Not only do most of your e-mails sit unread in his inbox, he will often call you later to ask for a verbal summary. Worst of all, when something goes wrong (and it will), you will ineffectually point to your numerous e-mails on the subject, to which your Terrible boss will reply “you should have called me”.
It is frustrating because with a Terrible Boss the real problem will never get addressed, but to make things even worse it turns out that your boss is actually speaking an entirely different language.
View full post on Business Pundit
Oct 24th
I’ve heard this my entire life: “A rising tide raises everything in the ocean.” It’s true for life, and it’s true for business. Every untapped resource is an idea left on the table, a skill set ignored, an untouched opportunity – and that’s bad for business.
Battle of the Sexes
In “The State of Women-Owned Small Businesses Is Strong, But Could Be Stronger,” Anita Campbell highlights a report released by American Express OPEN earlier this year. It demonstrates the impact that women have in the business sector. Anita says,
“The 8.1 million women-owned businesses would leave a huge hole in the U.S. economy if they disappeared tomorrow. Women-owned businesses account for more than $1.2 trillion in revenues annually. They employ more people than the entire population of Switzerland—7.7 million people.”
Women have an impact on business, and since we are a part of the same global (and in this case national) economic team, that’s good news for everyone. Our piece of the pie has continued to rise but it’s still not proportionate to our place on the planet. Women are roughly 50 percent of the American population, but according to the State of Women-Owned Businesses Report by American Express OPEN, only 28.9 percent of businesses are owned by women (that is an increase from 25.9 percent in 1997).
Get Your Priorities Straight
Whether you’re a man or a woman, your ideas could be game changers for your personal economy, your local economy and even our national and global economies. The solutions that you have and the problems that you solve are too important to leave to the foggy chaos that often envelops the creative small business owner.
In “The Key to Prioritization,” John Mariotti says, “all priorities are not created equal—not even close.” It’s our job (and pleasure) to get to the core priorities and get those done. John gives a simple piece of advice: Delete the stuff that doesn’t belong on the list in the first and then prioritize what’s left. Make sure you list is filled with the task that are core to you.
And since you’re moving forward with clear priorities, I’m sure that marketing is on the list — so you may want to check out Ivana Taylor’s advice in “The Overwhelmed Marketer’s Guide to Attracting Customers and Looking Good Online.”
My favorite advice from the guide:
Define a target landing page for each channel. When people find you on Twitter or Facebook or at the end of someone’s blog, you want them to care enough to click through to your site. And when they arrive they need a message that relates to them. So create a special landing page instead of directing them to your site’s home page (I’m working on this one right now).
Get familiar with Google Analytics. You will learn about the type of people who visit your site, where they go and what they like and dislike about your content. It’s priceless information that can help you position yourself (knowing this has changed my Web presence and my ranking—I’m still working on this one).
It’s foundational advice for online marketing and worth the time and energy.
Image from Monkey Business Images/Shutterstock
Sex and Priorities: Do They Matter In Business?
View full post on Small Business News, Tips, Advice – Small Business Trends
Jun 20th
I remember the first “Sex and the City” movie (sorry, guys—it won’t take long) where Jennifer Hudson, who played Carrie Bradshaw’s assistant, said, “Love is the thing you know.” It stuck with me. When it comes to business, I would add that joy is too.
We spend too many hours a day on the job—whether for someone else or for ourselves—to hate it. (Don’t we?) We need to take joy in what we do if we intend to make it for the long term.
How do you feel about doing your own thing? Some 77 percent of small business owners in the Small Business Happiness Index by Vista Prints are either “very” or “extremely” happy about running a business and working for themselves. (The survey focused on 900 U.S. microbusinesses with one to 10 employees and less than $100,000 in annual revenues–primarily home-based businesses.)
Are you still in love with your business or is the feeling fading? And if it is, what can you do about it?
Almost half (47 percent) of those surveyed for this index indicated that they are working more hours this year than they did in 2010. Many of us understand the difference between the job and the business. It is easy to double your workload when you start a small business, both out of necessity and passion. When you have a need, a vision and a love for the business, it is easy to slip into long hours. And if your heart is really in it, it won’t even seem like work.
But it is work. And there has to be some kind of downtime (lesson learned the hard way). The cool thing about having your own business is that choice to balance is yours.
You know the (scary) business model that has the kind of organization that only you can understand? You may understand it, but it is still a bit of mess, especially if you are talking about future teamwork. We still need systems and structure that allows people to help us. Because the day will come when you take that long overdue vacation, and you want the business to improve while you are gone, instead of falling apart.
It’s the documented systems and structure that make it possible to sell your business one day (should you choose). That same structure makes it easier to pass it on—should you choose a legacy instead of a sale. Why leave a mess, when you could leave a mission and a system that your children could carry on (or sell) without giving up their own dreams?
Are you happy with your business?
77 Percent of Small Business Owners Love What They Do: Do You?
View full post on Small Business News, Tips, Advice – Small Business Trends