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Volume 1, Issue 4
Volume 1, Issue 4
February 16, 2007
By Susan L. Reid MS, DMA
Small Business Start Up Coach & Online Accidental Prenher™
An online newsletter about how to start up and successfully launching small businesses for entrepreneurial women who are ready to transform their lives and make a difference in the world, turn their passion into a profit, and bring in a six figure income.
In This Issue
- Business Quote from Vincent Van Gogh
- The Tortoise and the Hare Model for Successful Small Business Start Ups
- Free 25-Minute Small Business Hearts On Fire Start Up & Go Coaching Session!
- Q & A re: Whether you need to be incorporated to have a business credit card or banking account.
This e-Zine is intended to be read in 10 minutes or less with many of the articles offering links to further information. To ensure we continue to capture the most important issues regarding the successful start up and launch of small businesses, we are keen for our readers to interact with us and let us know what’s on their mind. Speak up and be heard at: Susan@LaunchYou.com
To subscribe to this e-Zine click here.
To read our blog go to: http://susanreid.typepad.com
Note From Susan
Happy Valentine’s Day, Fellow Entrepreneurs!
This week’s e-Zine was inspired by three labors of love.
Labor of Love #1: Successful Small Business Start Up. Read the featured article to find out what a mother’s reflection and one of Aesop’s fables have in common.
Labor of Love #2: The Hearts On Fire gift. Ever wonder what to get someone who has everything? Consider our Hearts On Fire free gift for you or someone you know.
Labor of Love #3: Tada . . . Our Inaugural Blog Launch! Finally, the much anticipated blog created for the Accidental Pren-her™ in each of us who, by embracing what was, has became what now is. This is a place to share stories, build community, and embrace your inner Samurai. You can find us at: http://susanreid.typepad.com Come, share your story of how you became a Pren-her!
Business Quote Of The Week
Great things are not done by impulse, but by a series of small things brought together.
—Vincent Van Gogh
For more business start up quotes go to: http://www.alkamae.com/articles.php?cat=50
The Tortoise and the Hare Model for Successful Small Business Start Ups
My mother used to affectionately refer to me as a turtle. She had a picture of me when I was 5 years old standing in a red bathing suit near the edge of the pool. This was my first swim lesson, and I was listening intently to what the instructor was saying. Though this was not the first time I had been at a pool or swimming (my dad was an avid swimmer and used to take me all the time), this was the first time I was ever instructed in swimming. My mom remembers how the other kids jumped right into the pool, eager to start, while I stood near the edge, waiting. I wasn’t afraid of the water. Rather, I was taking time to prepare for the event. Then, when I was good and ready, I jumped right in and swam.
Thus began my relationship with the fable “The Tortoise and the Hare” found in the much beloved bedside collection The Fables of Aesop. “The Tortoise and the Hare” is perfect for illustrating sound start up practices.
Aesop’s The Tortoise and the Hare
Once upon a time, there was a hare who, boasting that he could run faster than anyone else, was forever teasing tortoise about his slowness. Then one day, the irate tortoise accepted the challenge when the hare boasted that “there was no one in the world who could beat him in a race.”
The next day the race began, and the hare yawned sleepily as the tortoise trudged slowly off. When the hare saw how painfully slow his rival was, he decided to have breakfast and a quick nap. "Take your time!" he said. "I'll have forty winks and catch up with you in a minute."
The sun started to sink below the horizon. The tortoise, who had been plodding towards the winning post since morning, was less than a yard away from the finish when the hare awoke with a jolt. Away he dashed! Though he leapt and bounded with great effort and speed toward the finish line, he was too late. The tortoise had beaten him. Tired and in disgrace, he slumped down beside the tortoise who said, with a knowing smile, “Slowly does it every time!"
The Tortoise and the Hare Start Up Model
From the very start of this fable, it seems absurd that the slow, prodigious tortoise would even consider pitting himself against the swift and built-for-speed hare. Though to the tortoise, the race was never about speed. It was about following through on his word. It was walking the talk, doing what he said he would do--something the hare never saw coming. The tortoise was all about the long game while the hare was about the short. Both approaches are important for a successful small business start up.
The Tortoise Speaks
Do you have an overall plan for start up success and becoming a leader in your industry?
- Do you have a viable niche market?
- Do you have a purple cow product/service with good market appeal?
- Is your profit margin adequate to support your income goals?
- Do you have cohesive branding that effectively communicates what you do?
- Do you have a business coach or mentor--someone you can trust to help guide you?
- Do you have time, and lots of it?
- Do you have the courage and commitment to see it through?
- Do you have the financial recourses to devote to your start up?
The Hare Chimes In
Are you able to easily adapt and maneuver within the overall plan?
- Are you computer savvy?
- Do you have a reliable, up-to-date computer with high-speed Internet service?
- Does a reputable Internet company host your domain?
- Do you have the tools and skills to create a web site and edit web pages, or the financial resources to pay a professional to do it?
- Do you have a variety of ways to drive visitors to your web site?
- Do you have an Internet merchant account and shopping cart?
- Do you have a list serve or another way to send thousands of emails out to customers/clients?
The Tortoise and the Hare Share Thoughts
Realistically, it takes the winning combination of tortoise and hare characteristics to successfully start up and launch a new small business. It really isn’t a matter of one being better than another, nor is it about choice. It’s a combination of preparation, flexibility, strategy, ability, sustainability and maneuverability in today’s business world that makes the difference between a success start up success and failure.
Moral of the Story
Getting out to an early start may seem like the thing to do to an eager entrepreneur with passion to burn and a great idea in hand. Yet, the moral of The Tortoise and the Hare is that slow and steady wins the race. Follow the example of the tortoise: focus on the task, pay close attention to the tried and true business start up fundamentals, and see things through. Then follow the example of the hare by being nimble and quick to adapt and maneuver when necessary.
Taking the best from both the tortoise and the hare ensures that slow and steady will win the race, while high-octane speed and adaptability will set the pace.
Click here to read more: http://www.alkamae.com/content.php?id=159
Valentine’s Gift for You or Someone You Know!
FREE 25-Minute Small Business Hearts On Fire Get Up & Go CoachingSession.
Is your heart on fire about getting a small business up and going? Are you uncertain about what steps to take?
Is your heart on fire about turning passion into profits? Are you stuck getting started, not knowing what’s getting in the way?
Is your heart on fire about making a difference in the world? Do you lack the motivation and energy to do so?
If so, then this Valentine’s gift is perfect for you--or someone you know! This free LAUNCH YOU! special is a no-obligation, 25-minute Hearts On Fire Get Up & Go coaching session with me. Though this session would normally be $150, as part of my 2007 inaugural e-Zine launch, I am making this special available to the first 10 people who email me. I only have 10 spaces open for the entire month. Once they are gone, they’re gone!
In this powerful session, you--or someone you know--will leave with:
Crystal clear written goals.
A "next step" action plan.
Greater personal awareness!
Hidden challenges revealed!
Renewed energy for starting up and launching your successful small business!
Extreme motivation to get the results you desire!
For a FREE 25-Minute Small Business Hearts On Fire Get Up & Go CoachingSession, contact me at: Susan@LaunchYou.com.
Ask The Accidental Prenher™
Q: Brooke East of Houston, TX asks: I am using a business name, although I am neither incorporated nor do I have a DBA. In order for me to have a business credit card or banking account under my business name do I have to have a DBA or be incorporated in any way?
A: Yes, you will need to have a DBA (Doing Business As) or some other incorporated form of business, such as an LLC, S-Corp, or C-Corp. You need to do that before you get a business bank account or business credit card because when you register your business, you will be given an EIN (Employer Identification Number) or TIN (Tax Identification Number). Banks require you to have one of these identification numbers before you can open your business checking accounts and credit cards.
For a DBA you can easily go down to your local court house, ask for an application form, pay the fee and do the filing yourself. Or, your CPA, attorney, or the web site http://www.LegalZoom.com can do it for you. For more information on DBAs and other small business start up information, the U.S. Small Business Association is a wonderful resource: http://www.sba.gov/index.html
Disclaimer: I am neither an attorney nor accountant and am not qualified to give you financial or legal advice. If you are starting up a business, it is important for you to contact qualified law and tax experts and seek their advice.
Do you have a burning “how to” question about starting up or launching your small business? Email me at Susan@LaunchYou.com, and I’ll answer it either in upcoming LAUNCH YOU! e-Zines or in my new Alkamae blog at: http://susanreid.typepad.com
That’s all for this issue, folks.
Until next time, happy launching!
Susan L. Reid, MS, DMA
Small Business Start Up Coach & Online Accidental Prenher™
At Alkamae we specialize, not generalize, by launching successful small businesses one woman at a time.
p.s. Below are the “Hot Links” to our most frequented and requested sites:
Small Business Start Up Coaching for those who are ready to partner with a small business coach and position your new business for success: http://www.alkamae.com/product.php?id=74
Link to our Ready To Launch Power Pack Combo that includes our free e-book Are You Ready To Jump The Corporate Ship? Here’s How To Know! This free e-book and accompanying audio will lead you, step-by-step, through the process of deciding whether you are ready to jump the corporate ship and embark on the magnificent journey that will lead you to set-sail on your very own entrepreneurial ship.
Recommended reading for successful small business start ups: http://www.alkamae.com/resource-links.php?id=16
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