October 28, 2009

Warner's Plan for Small Business Success... Use Your
Mistakes to Better Your Future... Home Is Where the Cash Is
Made... The Key to Successful Newsletters... and More.

Senator Mark Warner has a big vision, and it's one that could help out small businesses across the country.

In fact, his vision is to the tune of $50.0 billion. I'd type the full number out, but, quite frankly, that's too many zeros.

Now, you'll notice one thing about Senator Warner's proposal; there's not one single mention of the word "bailout."

You see, you had to know that the bailout train wouldn't continue forever. And, while it still remains to be seen whether or not the recent stimulus plans have worked, I like that Warner is proposing a way to stimulate small banks and businesses, without going on a giveaway spree.

Don't get me wrong; giveaways can be great. But when you're talking about the economic success of a country and the small businesses that are essential to communities, well, I like to think we're all looking towards ways of ensuring a more secure future.

While more details of this proposal still need to be evaluated, small businesses have seen a really tough year. I've heard of hard-working entrepreneurs draining their retirement savings just to keep their business afloat. And I've heard countless tales of rejected loan applications for otherwise excellent business ideas.

It's important to remember that struggles may seem never- ending, but, once you get beyond them, well, you'll quickly forget about many of your previous worries.

If you've been turned down for a business loan, I encourage you not to give up hope and to keep following the e-Wealth Daily team. I'll update you on this story as it progresses, but in the meantime, keep honing your business plan and keep a positive attitude. I'm a firm believer that your attitude must be tuned to accepting success, so when it comes, you'll already be prepared.

One of our human downfalls is that we focus on our failures. We beat ourselves up over and over again for the same mistakes and forget to move on. Life is too short not to take our failures and misfortunes and learn from them. Arm yourself with your knowledge, strengthen your resolve, and charge ahead into a better future filled with more positive experiences. That's what improvement is all about.

Don't deny the problem. Resist the urge to defend yourself. Accept responsibility for what has happened and use it as a lesson to move forward. Learn from your mistakes without suffering from them. There is always going to be a next time -- and it may prove to be better than this time.

Scientifically analyze yourself and your circumstances. What went right? What went wrong? Review your deficiencies and insecurities. Eliminate what doesn't work and repeat your successes. Work to do whatever you can in order to overcome your anxieties.

Get as much feedback as you can from those individuals you know who have been in the same position and use it to your advantage. You don't need to feel isolated in your failures or mistakes. Everyone has their own unique experience that they can share with you in order to help you see your situation more clearly.

Experiment like a scientist does. Not every solution will work. You need to try alternate solutions and see which ones feel the best in your particular situation.

Expect some delays. Learn that not everything can be controlled just because you are trying to take control of the situation. Change the things you can right now, and the rest will fall into place.

Regenerate yourself. Learn and experience new things to help you on your new quest. Pamper yourself and feed your security. Don't just jump into something that's new and improved; transform yourself into it.

Prepare yourself with the information you already have. Don't make the same mistakes twice. Always learn from them, carry that knowledge with you, and apply it in the next scenario you find yourself in.

Learn to distinguish the important from the unimportant. Not all mistakes or failures are huge. Learn to put things into perspective. Whatever happens to you in this world, as long as you have food, shelter, and someone who loves you, you are going to be okay.

Don't become preoccupied with the past. Analyze it and let it go. Reserve your brain and your emotions for the next phase of your life, and concentrate on where you are going, not where you've been.

Trust yourself to make the right decisions and choices. With sufficient knowledge, you can make good judgment calls no matter what has happened in your past. We all make mistakes. Get over it and get on with your life. Use your gut instinct from here on out.

Learn by the highest application of knowledge. Learn from the knowledge you have accumulated and the knowledge of others. Learn from your mistakes and learn from the mistakes of others. Arm yourself at every opportunity and embrace your experience.

Recently, I started covering some of the essential things you need in order to run a successful home business. I've been thinking that I should expand on that list. So here are a few more essentials that are key to running a home business:

Time Management: The beauty of working at home is that, for the most part, you'll be choosing your own hours. There may be the odd time when a client needs you to get something done quickly, or you may have to agree to an early-morning meeting; but other than these occurrences, you'll be working on what you want, when you want. This means no more 8 a.m. to 8 p.m. marathons at the office. You can start at 10 a.m. if you want, or even later. Of course, if you don't come up with a schedule to stick to, you can get into trouble in a hurry. It's important to schedule things like cutting the grass, taking the dogs for a walk, going to the gym and picking the kids up from school. All these things will have an impact on your work. For instance, you may have to stop working every day at 3:30 so you can take care of the kids until your spouse gets home. And then once your spouse arrives, will you be! able to get work done, or will you be in demand? Will the house get louder than a rock concert?

Another area where time management becomes important is when it comes to making your availability and the availability of your workspace clear. For instance, people have to know that just because you are working at home doesn't mean that you don't still have an important job to do. They need to know the boundaries and that your work time is just that: time to work. Conversely, you'll have to pick a time to finish work and stick to it. One of the most difficult parts of working from home is having the strength to pry yourself away from the office and relax. After all, it's right there and so easy to just make a quick response, or touch up or fire off an e-mail.

Communication: Once you get used to the comforts of being at home, you may notice that it can get pretty lonely. After all, there is a good chance that you've spent most of your life working with others in a social environment. If this is something that bothers you, set up meetings and gatherings on a weekly basis -- especially if you have employees or colleagues/clients that you're working very closely with.

It is also important to communicate regularly with customers, contractors or anyone who is involved in a project with you. Since you're not in the office with them, you'll have to make plenty of phone calls, send e-mails and constantly follow up. Also, depending on your familial situation, you may need to install an additional phone line or purchase a second computer.

Along with saving on the price of gas and eating out, you'll also be able to make deductions on your tax return by working from home. You'll be able to deduct the cost of the square footage of your home that is used for the business, as well as a certain percentage of your utilities such as the phone bill, electricity, Internet and heat.

Once you've got a better idea of how to maximize your success while working from home, the sky's the limit!

** The Key to Successful Newsletters
By James Burt, Online Marketing Expert

Here's a story for you. It's narrated by a colleague, Brent, who is an info marketer whose focus is on digital cameras. He's pretty good at his job. But something went wrong for him. Here's how he tells it:

"I had woken up, had my coffee and toast, and then went to the computer. I checked my e-mail. It had over 10 new messages, all in regards to a recent batch of newsletters I had sent out. I read each one and they all said, more or less, the same thing:

'Brent, buddy, these stink. We're paying for news here. Write better newsletters.'

At first I was pretty mad. But after going back to have a look, I knew the truth. They were right."

Like I said, Brent's a great info marketer. But like a lot of other info marketers, he had fallen into a slump. Either from fatigue or lack of new ideas/info or both, he had allowed his work to fall behind in its quality. And he had done it on a thing he really shouldn't have: his newsletters.

Your newsletters are important. It's something that you put out on a regular basis and that your clients love to get. Like a magazine subscription, they look forward to receiving and reading everything that you have, particularly new information that you have acquired. It's what they've paid for and you have to deliver.

Like I mentioned earlier, Brent probably fell by the wayside a bit from working too much or being short of new information. When I asked what he did to remedy the situation, he just said he went back to "what he used to do."

Newsletter writing is something that can be mastered. I have learned a lot about it from freelance jobs and later from my colleagues John Hurd, Adrian Newman, and Michael Lombardi. While it doesn't have a strict syntax per se, there are some rules of the road that you can follow, as Brent and I often have, to help make sure you create the best possible newsletters for your info marketing business.

Here are a few tips:

--- Keep it short and simple: I repeat this a lot, but it really is important that you simplify written content for your clients. Things are complex enough these days, so an easy-to-read, one- or two-page newsletter is perfect for people who want to get new info. It does not mean you have to sacrifice the substance of what you are writing about; just that you have to simplify it for anyone to read.

--- Don't forget the info: I must sound like a smart aleck when I say this, right? But make no mistake -- this is something that lots of info marketers, including Brent, forget. He got in the habit of just shooting out random newsletters that, while funny and entertaining, had little to no new information. They were just stories. Your clients want more than that. Sure, be a good storyteller, but try to give them something they can use in the narrative process. Whether it's news, stats, hard-to-find info, or whatever, be sure to always include some useful info in your newsletters.

--- Create a "serial" mentality: A lot of info marketers are really smart, but they release info too fast or too much of it too quickly. This gets them into trouble, as they run out of ideas quickly. Take some time yourself and come up with a way to schedule new ideas that you can write one newsletter after another. This is like the old serial movies or radio shows my dad went to see as a kid, or that programmed TV show you like to watch. It keeps people coming back for more time and again.

--- Keep a strict schedule: While this isn't a writing component, it's very important. Part of creating great newsletters is getting them out in good time and ON TIME. Come up with a good schedule, such as twice a week or biweekly, and regularly issue your newsletters at those times. At e-Wealth Daily, my colleagues have a computer server system to issue these on an automated, scheduled basis. This is an option for you, too. If you can't get in on a system like that, create an e-mail list and issue them manually.

Info marketing and newsletters are great partners. Your clients will love getting new info on a regular basis. Your only job is to make sure that you get them the best ones you can and at the time you promised. Stick to that.