Did you know that 46% of Holiday Shopping Will Be Done Online?

Wow! Did you know that 46% of Holiday Shopping Will Be Done Online? I know that I didn't know this fact.  With Black Friday quickly approaching now is a good time for business owners to get ready.  But is your online business ready?  This is an interesting article that speaks to this year's online selling trends.  Check it out: http://smallbiztrends.com/2015/11/holiday-shopping-online-survey.html

Give yourself the gift of membership this online shopping season.  Become a member of the Network for Women in Business.

It Takes More Than a Dollar & a Dream

dollarLet's face it, most people go into business to make money.  But the ugly truth about all that is that it takes more than a dollar and a dream to be successful in business.  And if you go into it with that "Lottery" mindset then you will surely fail.

 

It Takes Hard Work to Build a Business

You may not want to hear this and you may not want to accept it, but it takes hard work to build a successful business.  It also takes a plan, capital and good business sense.  There may even be times (many times) when you will want to quit.  But we all know that quitting is not always the answer.

Some times and especially when you just get started, your mind is pregnant with possibilities, hopes and dreams.  It often takes you all over the place.  You may not even know where to start or how to put it all together.  This is when you need to create a business plan so you can document all of your ideas on paper and create a strategy for implementation.  It may not be feasible to do everything at once, but if you can lay it out in a sensible fashion, executing on each idea becomes a lot easier and less stressful.

Once you have all of your ideas laid out into a plan, a good thing to do is reach out to or hire someone to check the pulse of your plan.  Organizations like SCORE are good because you can get feedback from an entrepreneur who has been exactly where you are.  The worst thing you can do is ask a family or a friend for advice. Why? Because they haven't been where you are or where you're going and most of the time they won't understand.  So ask an expert.

Get Backing (Capital) If You Can

Here's the truth.  The folks out here who are winning are the ones with the financial backing to succeed.  In order to get the word out about what you do, you must market.  The businesses with the most visibility are the ones that are winning.  If you can afford to outspend your competition in marketing and advertising, then you will win.  If you can get some FREE publicity, then that's even better.  But make no mistake about it.  Having seed money makes things easier.  Not having it doesn't mean that you can't succeed, it just may mean that it will take a little longer.

So what if it takes you a long time.  Overnight successes rarely last much longer than that - Over night!  If you want to have a long-term sustainable enterprise, plan and work for the long haul.  Even if your wins a small.  A win is a win and take it however it comes.  Whatever you do; don't be discouraged.

Get Support From Others

Always seek support from others.  Building a business doesn't exclude you from LIFE.  While entrepreneurs often believe that they always have to "be on the grind," this is far from true.  You must take a break, you must relax, you must take care of yourself.  If you don't your health will suffer and what is success really if you're not around to be able to celebrate it.

Getting support from others helps.  It helps because you have a circle that you can bounce ideas off of, and you have confidants and people you can trust.  It doesn't matter if the conversation goes from marketing to menopause, the bottom line is you need to talk to and network with other like-minded people.  This is where organizations like the Network for Women in Business comes in.  It provides that support.

Also OUTSOURCE what you can...

The Entrepreneurial Myth is real.  You will wear many hats as a business owner, but try to outsource as much as possible until you can afford to hire your first employee.  Interns are great as well.  Anytime you can provide someone with real life experience by giving them real tasks to assist with their education, that's always a win-win situation.

On Thursday, November 19th we will be hosting a webinar on "Focus Days and Outsourcing."  This webinar is specifically designed for those entrepreneurs who are out their "grinding hard" for that dollar.  They know that it takes hard work, but if the hard work is burning you out then maybe it's time for you to take a different approach.  You know that it takes more than a dollar & a dream and you're ready to figure out a new way.  Discover this new approach on Thursday.  Members can log in to register.  Others can become a member today to get access.

Follow us on Facebook: https://www.facebook.com/networkforwomeninbusiness

2016 Social Media Secrets

2016 Social Media Marketing SecretsOn Thursday, November 12, 2015 we will be hosting a webinar where we will be dishing the dirty little secrets that all of the hottest social media marketers are using to drive massive traffic and sales to their websites.

Have you ever wanted to know what those secrets are?

Of course you do and now you can.

Join on us for this very special event.  Click here to sign up.

All of your hot and burning questions will be answered.

All of the secrets will be revealed.  And you don't want to miss it.

So register today and get LIFETIME access to the video.  So if you can't make it to the live event, view it again at any time.  Register now.

 

How to Profit with the Network for Women in Business

womendollarThe Network for Women in Business was founded in 2012 with a unique mission to train, connect and advance women entrepreneurs. This mission is being met on a regular basis through online course offerings, live webinars and boot camp events. Additionally, networking opportunities exist through the Social Network for Women in Business and via live networking events. While all of these things are great, there is one thing that sets the Network for Women in Business apart from other networks and that is the Partner Program.

Individuals and organizations can partner with the Network as an affiliate. As an affiliate you can earn up to 50% commission on all information products offered by the Network and on all member referrals. The commission on information products is one-time, but the commission on members are monthly for as long as the individual remains as a member.

Our partnership program is a win-win for all involved and we’re excited to share more about the benefits of this program as well as our Chapter program on Thursday, November 5th at 8pm EST during a live webinar event. Click here to register to learn more about how you can partner with us. The possibilities are endless and we look forward to having as a part of our family.

====>Register for "How to Profit with the Network for Women in Business by clicking here<=====

Is Your Business Profitable?

profitOftentimes entrepreneurs start a business with a grand idea and then immediately move into action.  Before you know it, we're in the thick of things and we have not taken to time to understand if our business is profitable or not.

So, Is your business profitable?

 You probably don't know the answer to that question.  And if you don't that's okay, because in this article we're going to show you exactly how to measure the profitability of your business and will provide you with a template (in Excel) to help you consistently measure the pulse of your business.
The first thing you want to do is get comfortable creating a spreadsheet listing all your revenue and all of your expenses.  This is something that's not hard to do.   Download your spreadsheet here.  Once you do this you will have something called your Profits before Salary.  You must do this first before your pay yourself.  Most solo-preneurs do not do this.
What is Revenue?
Your revenue is all of the money you intake from sales or from the sales of your services.  Your net revenue is your revenue less the costs of goods sold.  For example if you are selling products that you have to buy material or inventory and then mark it up.  Your cost of goods sold is the cost of that inventory or the materials you had to purchase to create the product.   You may have revenue coming in from more than one source.  List them all.  (e.g. Book sales, speaking engagement fees, coaching fees, monthly membership fees, etc.)
What are Expenses?
Every item that you spend to support your small business.  These expenses range from marketing fees, advertising fees, convention fees, business meetings, business memberships, merchant fees, parking and tolls, cell phone fees, software and online services, coaching fees, etc.

The best thing you can do as a small business owner is take some time out every month to comb through your expenses and list them out on a spreadsheet.  This will make your life a lot easier at tax time.

Monthly Financial Strategy Session

Hosting a monthly financial strategy session with a business advisor is always a good idea.  This will help to keep you on track to profitability.  It will also help you to determine whether or not you're running a real business or just nursing a hobby.  Most importantly it will help you to answer the question - Is Your Business Profitable?
Once you have a system in place, you can hire a Virtual Administrator to complete the spreadsheet and then carve out about one hour each month or each week to analyze your small business finances.  You won't regret that you did.

 

Don't forget to download the Spreadsheet Here.  It's our FREE gift for you!

 

Top 3 Steps to a Profitable Kick Butt FB Ad Campaign

FB-AdsHave you ever wondered how people really make money from Facebook? If you guessed it’s from advertising, then you’re right!

You probably believe that those most successful advertisers spend a lot of money on ads and have a large team of people working behind the scenes to make the magic happen.

But in reality having a big budget or a large staff is not a prerequisite for success. With the proper knowledge and planning, you too can rake in the dough using Facebook Ads.

While creating a FB Ad campaign may be very simple, creating one that is profitable takes a lot more work and planning. In this article I will break down the process of building a profitable Facebook Ad campaign so you can capture your share of profits in any field or industry.

Step 1: Know Who You Plan to Target

The targeting capabilities on Facebook is probably one of the main reasons why advertisers play there. Facebook has such an arsenal of ways in which you can target, the fact is anyone could find their ideal customer on the platform. You can target based on the following:

  • By Age, Gender, Interest, Location, Behaviors, Income, Industry, Occupation, Education, Ethnicity, Relationship Status, Homeowners, and more. (Photos courtesy of Social Media Examiner)

FB-Ad Target 1

Also you can come to the table with your own audience to target by creating custom audiences. There are 3 types of Audiences that you can create:

  1. Custom Audiences – Where you can create based upon website traffic. When you create this type of audience you will add a pixel to your website and Facebook will build an audience based upon website visitors. You can also build a custom audience based on past customers or FB ID’s from groups, etc.
  2. Lookalike Audiences – If you have the email addresses of past customers Facebook can create a lookalike audience of FB users with similar demographics.
  3. Saved Audiences – If you have created previous ads and saved the audience that you targeted, FB will keep the saved audiences as a custom audience that you can later use for future ads.

FB-Ad Custom Audiences 1FB-Ad Custom Audiences 2

Because of the unique ways in which you can target your customers it is important to know who your ideal customer is; therefore it is imperative to create your customer avatar before you get started advertising on Facebook. This will help you with targeting and will also help you to get cheaper ads.

One of the first places to look for your target market is your Fan Page of course. These people have already said they “Like” you, so it’s hard to go wrong when you start there.

Tip: The number one reason why most ads don’t convert is because you’ve targeted the wrong audience.

Step 2 – Have a Sales Funnel that leads up to a High Ticket item.

You’re going to lose money every time you place a Facebook Ad if you don’t have a Sales Funnel that leads up to a High Ticket item. Period! I’m sorry to be so blunt but it’s true.

If you just stop at a Free Offer, you’re going to dump money down the drain. You’ve heard the saying that “the fortune is in the follow-up.” Well, that saying should be that “the fortune is in the sales funnel.”

If you’re anything like I used to be when I first started out, then you probably believe that all you need to be successful online is a list and if you place an ad and give something away then your job is done.

Well, the fact of the matter is, this is just the first phase of generating profit. No one goes into business to give everything away. You shouldn’t either.

Immediately after giving away your free item, you should have a one-time offer (OTO) or upsell. Preferably more than one. Then you should have a follow-up email series designed to lead your customer up your value ladder to your high ticket item.

When you set up your sales funnel this way, you can spend $500 on an ad and if you end up earning $1500, which yields a $1,000 profit. It just makes sense.

Step 3 Analyze Your Results and Scale Up

FA-ADS Insights

At the end of the day, you want to profit from your FB Ad campaigns. In simple terms when you EARN more than you SPEND, that’s called having a positive Return on Investment (ROI). Engagement such as likes and shares, let’s you know if your activity is expanding your reach and all of that is great, but sales conversion is everything.

There are one major thing that you can do to assist in increasing your results and it is to split test everything, such as creatives, ad copy, sales buttons, audiences, etc. When you find out which of these items work better, switch to the higher performing ad.

Why do this? Because anytime you can squeeze more money from your campaigns you should do it.

After you test what works best and have gotten to your best ROI, then this is the time to scale up. All the while you’re running ads you want to re-invest some of your profits. Keep scaling up until your business turns into a six-figure or more profit generating machine.

If you implement these three steps into your Facebook advertising strategies, then you will definitely be on your way to achieving amazing results.

If you want to learn more about FB Advertising, then pick up our Facebook Advertising Kick Butt Triple Pack, which includes 21 Facebook Ads Case Studies, Facebook Cheat Sheet and our Facebook Ads Process Map.  When you're armed with these three things you cannot go wrong and you will be well on your way to a six-figure business all as a result of Facebook.

The No. 1 Reason Why People Hate Networking & How to Overcome It

The number one reason why people hate networking is FEAR of talking to people they don’t know. Period.

The average person is so scared to talk to strangers. Think about it? What is the first thing that you learned as a kid? Don’t talk to strangers right?  This is why your mind so quickly goes back to that childhood belief  and you start to think that it’s not safe to network and if you do it, and you think you’re going to get kidnapped or something.

Ha! Ha! – I just have to chuckle because this is really the thought that comes to mind for some people. But think about this…if you only talk to people you know you will miss major opportunity to build rapport with new people.

Let’s face it, networking is essential to the success of most businesses. Your chance to grow your business rises and falls on your ability to interact with your potential customers on a personal level.  You must develop a trust factor in order to build profitable relationships. You must also remember that you are a solution to someone’s problem and you will never know who has the problem that you can solve if you don’t talk to people.

How to Overcome the Fear of Talking To People at Networking Events

There are some specific actions that you could take to overcome your fear of stepping outside of your comfort zone at networking events and they are as follows:

  1. Set a goal for yourself before you attend a networking event. Decide the number of people you want to talk to or if they’re specific people that you want to meet. It’s always helpful to have that made up in your mind in advance.
  2. Come up with some specific conversation starters. Have a few questions prepared in advance that you want to ask the people you meet. Here are a few:
    1. So how did you find out about this event?
    2. Are you a part of this organization?
    3. So what is it exactly that you do?
    4. How did you get started in that field?
    5. How long have you been doing what you do?
    6. Do you love it?
    7. Tell me a little bit more about that.

Remember in any networking situation, the person who asks the most questions controls the conversation. So it’s always a good thing to let your intellectual curiosity run wild and ask as many questions as you possibly can.

  1. Don’t wait for a formal introduction to get to know someone. Go up to them and introduce yourself. Make sure that when you make that introduction that you let them know that you are a solution to a particular problem.
  2. Seek people to talk to who are “approachable” and “likable.” Use your gut instincts with this. Because just like everyone else who like to do business with people they know, like and trust, you need to have the same standards and if someone is not approachable or they seem arrogant and distant, don’t waste your time or energy on them. Remember that it’s your world and you don’t have to let everybody in it. Let only those who deserve it.

Now it’s time for you to devise your personal networking plan. Take the time to visit Meetup.com or Eventbrite.com and find the next upcoming events to attend. Create your hit list and pick up our book Network to Increase Your Net Worth to get the best networking tips ever. With our book, which was an Amazon Bestseller you can and will succeed in networking.

Pick up this book!

NetworktoIncrease Cover

 

 

 

 

 

 

 

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The Power of Networking

IMG_0080If you’re a small business owner there is a large chance that you’ve been involved in some form of networking. But do you really understand the Power of Networking?

Maybe you do, maybe you don’t. But it seems as if small business owners are finally beginning to understand exactly what networking is and how they can use it to increase their clientele.

So what exactly is networking?

The first thing that probably comes to mind is a group of people in a room struggling to get noticed and get their business cards in the hands of the right people.

However, in its most basic form, it’s word-of-mouth promotion but started by you, not your customers. It involves taking just about every single opportunity to elevate awareness of your product or service amongst the people you meet. At a more sophisticated level, networking can be executed by taking advantage of the formal networking groups (like the Network for Women in Business) or events that have been arranged purely with the idea of placing potential partners together, like match-maker events.

So, how can you become a more effective networker?

While it’s important to take advantage of opportunities that present itself for you to get your message in front of your ideal customer. It’s equally important to understand what some of the key strategies, tips and ideas regarding how to be a better networker and how to get the most out of networking events. Here’s how you can be more effective at networking events:

  • Have a clear understanding as to why you’re there and what it is you’re looking to gain. In other words have an end-game strategy.
  • Know that your business is a solution to someone’s problem. Therefore, it’s imperative for you to know exactly what problem your business is a solution for. What pain does your product or service eases? Having the answers to these questions in advance will help you to easily articulate your position.
  • Have a prepared and well-rehearsed answer to the question, “What do you do?” And state the answer to this question in the form of a solution. For example, if someone were to ask me what I do, I would respond by saying something like: “You know how female entrepreneurs struggle to build and sustain successful businesses? Well what I do is provide affordable training as well as online and social media marketing solutions for female entrepreneurs and I also provide a platform for them to connect with other entrepreneurs and potential clients with my Network for Women in Business.”
  • Make sure before you arrive at networking events that you’re clear on how to get to the venue and what time the event begins. You don’t want to arrive late.
  • Also make sure that you have enough business cards. And make sure that business card has a call to action. For example send people to your website to get a free gift or have a number for them to call to get a free 1:1 consultation.

What are the key advantages of networking?

Networking has real advantages over the traditional marketing:

  • For one, it’s free! Talking to another person costs nothing except your time.
  • It’s face-to-face marketing unlike direct mail, advertising campaigns and telephone calls. You have the immediate opportunity to establish rapport and obtain an understanding of the person’s problems.
  • It provides you with the chance to mingle with entrepreneurs in other industries, which may open the door to fresh opportunities you had not previously considered.
  • It’s also an excellent way of getting business advice. Why sweat over a solution when someone has probably already experienced and solved the same problem? Ask and find out who can help you.

Where to find a network?

Finding a place to network, where like-minded business owners are present, just got easier with the Social Network for Women in Business. This platform is FREE when you become a member of the Network for Women in Business. The Social Network is more effective because you can meet people who are there to do the same thing; you can get onto the same page with members that much quicker.

If you have not already done so, check out the Network for Women in Business. Connect with us on Facebook. Become a member and enjoy the benefits and privileges of membership.

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