Moving in different directions…
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PortlandBusinessCommunity.com is being retired.
Due to business growth in other areas, Ken and I are shutting down PortlandBusinessCommunity.com. We will leave the valuable info online, but will shut down new registrations and article submission. If you feel your business could benefit from business blogging, please visit PDXchat.com, where you can create a FREE blog or website to promote your business.
Thank you for two great years of support.
Ed Bejarana
Zenith Exhibits, Inc.
Create a FREE business blog on PDXchat.com
Ed Bejarana @ June 25, 2010
Aggressive Business
Posted in: General, Management, Marketing | Comments (0)
Portland is known for their street friendliness. Whether on a bike or on foot, the pedestrian can be confident that motorists are watching out for them. While traveling recently, I was almost surprised that this isn’t always the case in other places throughout the country. In other places the pedestrian must have confidence to take charge of the moment and just use the crosswalk, trusting the vehicles will stop. If they don’t take their confidence seriously, vehicles just won’t stop. They don’t wait for you, you have to make them wait.
This lesson reminds me that the same often applies to businesses and business owners. Whether buying, selling, or networking, businesspeople must take the reigns and take the steps to further their business efforts. Be aggressive. Be confident. Create a goal, go after it and be unyielding to any obstacles. Don’t let others or circumstances determine your destiny, but rather, take solid action towards your future and the future of your business.
Jamie Teasdale – www.jjtsolutions.com
Jamie Teasdale @ June 8, 2010
It’s a Matter of Time
Posted in: General, Management | Comments (1)
Being a business owner is rewarding, but not always easy. Demands on time are often the first reason entrepreneurs wonder “what have I gotten myself into”. Late nights, early mornings, work production, follow up, administrative tasks, finances, networking and marketing are only a few of the responsibilities we face and they all add up. When you feel your grip beginning to slip and important areas aren’t getting the attention they need, that is the best time to evaluate where you are spending your time and to come up with a new time management plan.
1. Decide what activities are required to make your business run properly and smoothly.
In order to stay in business, you will need to schedule accounting tasks such as billing, receiving, balancing, budgeting, etc. In order to stay organized and keep careful business records, there are administrative tasks like paperwork, ordering, filing, follow up, etc. Marketing projects, networking opportunities, customer service and follow up are the backbone of any growth plan. And then there is the actual work. Make a list of the tasks you need to accomplish and separate the tasks into two columns, one for monthly tasks, one for weekly.
2. Determine what tasks yield the best return on your time investment.
Do you have more success emailing your clients, or calling them? This may be best determined by generation. Younger generations are easy to find on social media sites or via text or email. Older generations may not have computer knowledge or email abilities and they may be expecting a phone call. We all know that producing quotes or estimates and invoicing are vital tasks. Perhaps the paperwork and filing can be set aside and handled once a week on your admin day. If you’re a small business, you may even opt to enter your receipts and balance your bank account bi-weekly or only once a month.
3. Decide which days of the week are best used on which tasks.
It is typical for phone business to have the best response when handled on Monday’s when businesses return from the weekend and are in-office, while Friday’s tend to be the opposite. Maybe Friday is a good day for networking, catching up on weekly tasks or deadlines and getting your office organized for next week (admin). If you attend a networking group, perhaps that day is a good day for meetings, follow up, or customer service activities.
4. Set your schedule and stick to it. Allow yourself enough time to get tasks done. If you guess you’ll only need an hour, give yourself an hour and a half. There is no sense in trying to kill yourself to accomplish tasks within an unreasonable time frame and most times you’ll just get behind and the schedule will be forgotten. Batch like tasks and activities together. Admin, follow up, accounting are all office-bound tasks, so it might make sense to schedule these on the same day. Remember that each task has a prep time and a down time associated with it. In order to use your time most efficiently, try not to “switch gears” too often in one day.
Your priority is your business, so once you have set up a working schedule give yourself permission to stick to your priorities. There might be the occasional meeting that conflicts with your admin day, or you may need to place a followup call on a non-followup day, but don’t let that discourage you from sticking to the plan. Learning how to manage the few hours you have in a day to accomplish all you have to do will keep you on top of the game and ready for more.
Jamie Teasdale - www.JJTSolutions.com
Jamie Teasdale @ May 24, 2010
The Fear of Rejection
Posted in: Marketing | Comments (0)
Most of us have grown up wanting to fit in. Acceptance and Diversity are common buzzwords in Human Resources departments these days. But thinking out of the box is striving to stand out and become distinctive. Marketers and Branding Consultants stress uniqueness, so what are we to do? I would recommend reading a small book that is revolutionizing how people view fear and rejection. The book is “Go For No” by Richard Fenton & Andrea Waltz.
As you read this book you will discover that it is not only acceptable to fail, but it is mandatory to reach success. Learning by our mistakes is often painful, but so is developing strength and endurance. Few people are impressed with a sprinter who is fast out of the blocks, but quits part way through the race.
I am reminded of the story of the first Jamaican bobsled team in the 1988 Winter Olympics. After suffering a frightening crash, they finished the race by carrying their sled across the finish line. They were determined to complete the race even though they had no chance of a metal. They triumphed over defeat because they refused to quit!
Enjoy the book and learn to fail your way to success.
Ken Bear Cole
A Second Look Business Consulting LLC
Ken Bear Cole @ May 21, 2010
Where Are My Valuable Customers?
Posted in: Marketing | Comments (0)
I often meet business people who are not sure who are their most profitable customers. I find them scurrying, chasing what they think are valuable customers, only to discover it was a discarded penny. They are working hard running in a hundred different 
directions, but are not making any money. They often have high-income goals, but lack a business plan to arrive at their goal. Are you just chasing pennies?
Chasing pennies is a game that I sometimes play with my Granddaughter. We will be in a safe place with a concrete surface. I will toss a penny and she will run after it and return with a big smile. She is proud of herself for finding the penny. She gets excited when I shake the pennies in my hand. She is ready to run after the jingling, almost worthless coins. Are you doing the same, if so, STOP! Don’t spend any more money in advertising, printing, website or anything else. You must first discover the actual problem. You will probably need assistance in this evaluation. Too often we cannot see our own shortcomings.
Ask yourself a few questions:
1. Are you seeing enough customers each day? Today you need to advertising in many different areas. Website, Email, Print, Associations and Networking are all necessary for most businesses to get the word out about you.
2. What makes you unique and inviting? If you are not perceived as special or better, you will need to compete on price, which could become a race to destruction.
3. Where do my profitable customers hang out? You need to get to know and understand their motivations and buying habits. Gas stations seldom make money on fuel. They make their money on the snacks sold inside.
4. What need or desire are you fulfilling?
You can become profitable once you make the appropriate changes and customers discover you.
Ken Bear Cole
A Second Look Business Consulting LLC
Ken Bear Cole @ May 14, 2010
Don’t Get Burned On Branding
Posted in: Marketing | Comments (0)
Graphic Designers and Marketing Specialists will tell you to establish your business identity in the marketplace. Branding has become a huge industry with an emphasis on recognizable logos and slogans. But do you need to spend thousands of dollars to stand out among your competition? Let’s look a little deeper into the subject.
Small businesses typically have very limited advertising budgets. Most cannot afford $1,000 per month for print advertising, much less TV or Radio adds. So why spend $2,000 on a logo that few will see? Yes it may look cool, but will it bring in more customers? Will your customers decide to hire you because of your green bullfrog with big red lips? The answer is probably NO, at least not at the beginning of your business development.
Take a stroll through the isles of any store and tell me why you purchased a particular item. Was it because of a logo? It probably had more to do with price unless the manufacture has spent millions of advertising dollars on print and television adds.
For a small business, YOU are your brand!!! People choose you because of your sales and customer service skills. You will only become successful once you are trusted to fulfill your customer’s needs. Your red-lipped bullfrog is not the reason someone stopped by your restaurant. Location and quality of food played a much heavier roll in the decision. So keep your Branding cash and spend it on your advertising.
Ken Bear Cole
A Second Look Business Consulting LLC
Ken Bear Cole @ May 3, 2010
The Micro Manager
Posted in: Management | Comments (0)
Micro Management is necessary when dealing with unskilled workers and young children; but it can become insulting and de-motivating to skilled workers. At first it is extremely helpful to have someone checking on your progress and answering questions. But soon, your management skills will come into question once tasks and procedures are accomplished.
Micro Managers are seldom respected by their employees or upper management, which presents a new set of issues to be overcome. It is as if you are announcing to the world that you are fearful and uneasy with your ability to manage. Micro Managers also feel overworked, because they are devoting so much energy into supervising every move of their employees. It is as if you are in charge of ten energetic toddlers. By the end of the day you are exhausted and feel that you have accomplished very little.
To change, you must do the following:
- Honestly evaluate the skill level of your staff and determine who can be left on their own, with MINOR supervision.
- Apologize to your staff and tell them you are trying to give them more freedom. This can be empowering to your employees.
- Ask skilled workers to assist those with less talent. Again you are recognizing a worker’s accomplishments.
- Take a deep breath and relax. Your job is to encourage rather then question and challenge the competency of your staff. You will soon discover that you are enjoying life again.
Ken Bear Cole
A Second Look Business Consulting LLC
Ken Bear Cole @ April 25, 2010
Tax Credit-Here and Almost Gone!
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The tax credit incentive was a joyous ride for a lot of people! Those who had the means to pay a mortgage instead of rent will benefit in the years to come. The $8000 enabled new home owners to update less expensive older homes. It allowed them to put back the money they used for the down payment and or closing cost associated with home ownership. The tax credit allowed family members to gift monies to help with the purchase of the home and then have it paid back to them after the tax credit was received. Some states like Washington and California allowed the tax credit to be used during the closing process. This program, whether you agreed with it or not, helped a lot of families get into a home of their own. I know,home ownership is not for everyone, but this program helped, some families out run their inability to save enough money for the purchase.
Some government programs just don’t work as we all know. Some programs can’t be measured. Most of us know someone who benefited from this one. Let them feel proud they have a home to call their own.
Ed Bejarana @ April 6, 2010
Still Looking For A job?
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Millions of Americans have been out of work for more then a year. Being unemployed is a discouraging and depressing situation. I know. I was out of work for nine months in 2002. I questioned my self worth and wonder if things would ever change. They can and will, but you may need to take a different approach. Here are some things to consider:
- Don’t hang out at home in your PJ’s or sweats. Get up at a regular work time and get ready to face the world. This will prevent you from forming depressive habits of low self worth.
- Find someone to partner with. It is true that two heads are much better then one. Having a partner can help keep both of you on the right track. You will gain strength and encouragement from each other as long as it does not evolve into a pity party.
- Sharpen your skills. Read articles and books to stay abreast of changes in your industry. Keeping your mind fresh and alert will fight off depression.
- Volunteer and help others. This will help take your focus off yourself and it can provide opportunities for joy in your life.
- Attend business-networking meetings. Search for Chamber of Commerce meetings or Trade Association meetings. You can visit at no charge for up to 3 times each organization. There are hundreds of networking meetings listed on line. Go meet new contacts. This is much better then sending resumes from home.
- Consider starting your own business. Downsizing has left companies needing services on an as needed basis. Discover if there is a need for your skills. Call and survey companies. You may find a new way to make more money then your old job paid. You can typically charge twice as much as you were making as an employee, but don’t forget that you will need to pay taxes on your new found income.
- Exercise. You don’t need to join a gym. Do push ups, crunches, walk around your neighborhood or beat your pillow with a broomstick. You need something to relieve your frustration and anger.
Ken Bear Cole
A Second Look Business Consulting LLC
Ed Bejarana @ April 6, 2010
Short Sale vs. Foreclosure
Posted in: General | Comments (2)
I’m not a fortune teller, soothsayer, or any other predictor of the future. The economy is what it is, and shall be for at least several months from now. People have lost their jobs at an alarming rate. We read it in the paper, the web, and see and hear on radio and TV. The housing market controls the economy, they say, but I believe the economy drives the housing market. The job lost, down turn in retail sales / manufacturing, and with companies going out of business have led some of us to a place we have never been before.-Unable to afford the home we so longed to have. If you find yourself in this situation, you are definitely not alone! Sometimes the loss of the house is unavoidable due to financial concerns. It is hard to face this fact. The reality is you have some options.
Most people with a 401K can take money out without penalty to get the mortgage current or to save it from foreclosure. I didn’t know if you knew this.
Give the house back to the bank “in lieu of foreclosure” You can contact your bank and discuss this with them. This will not count as a foreclosure against you and the credit hit is not as severe. This is easier when the house is in good shape. The stays on your credit report for about 3-4 years as a rule.
Stay in the house until the dreaded forced “foreclosure” when you are actually forced out. I would say this is the most challenging and damaging to your credit. Foreclosures usually stay on your credit report for 10 years and is hard to run from. Banks do not like this to happen, because of all the legal issues that accompany it. The banks tend to be more forgiving to your credit in a short sale or just giving the house back.
The “short sale” in most cases is the best scenario. The term short sale simply means the fair market value for the house is less than the mortgage. Several things have to happen to allow this. The bank will ask for the financial information from the sellers to make sure they can not pay the full amount. In this day and age that is not hard to do. You will need a realtor to do a competitive market analysis to show the bank the true value. Then it is just a matter of marketing the house at a selling price that satisfies the buyers and the bank. The difference of the amount owed and the sold price is the short sale amount. This will hit your credit, but it is the least damaging. Credit hit is 2-3 years as a rule.
Contact a realtor and ask questions concerning your options.
Bank owned properties and short sales are the things driving down the value in the housing market. It will be this way for awhile. So, if you need to give it back or short sale it, you are not alone. Do what you need to do to help you and your family.
Ed Bejarana @ February 18, 2010
