Day 21 – Do you want to be a Business Expert?
Day 19 – Getting a Real Job
Getting a Real Job
Getting a real job was never a phrase I would expect to hear from anyone when I started my business. It certainly wasn’t a phrase I expected to hear from my mother two or three years into running myPA Virtual Services. It was almost as if she thought I had played long enough with myPA, and now it’s time to return to work and get a real job.
Unfortunately, this is a statement and phrase that self-employed people hear more than you would think. So, what does this mean? It means that the person asking doesn’t have faith in your abilities to run a business. The product or service you specialise in is of no or little value, and that you cannot work for yourself. The person who asked gives the impression that they do not see your business as a proper business in the same terms that Tesco, BT or Virgin are.
Take business for granted
Often a small business owner is ignored, taken for granted, or dismissed. The assumption is that the work they do is not essential. The hours they work are often too many for such little reward, and self-satisfaction is not crucial. This attitude can also come from other small businesses if they offer a service that is not perceived to be of any or little value.
The Value of being Self-Employed
I remember being at a networking meeting in 2006 and speaking to an Action Coach. A business coach’s job is to help you grow your business. To help you become the best business owner, you can be and guide you through the worry of the legal, sales, marketing, and other aspects of business life.
I introduced myself as a Virtual PA. This coach looked at me and said, ‘Oh, you can’t help me, and you’re not the client I am after. You will be in paid employment within a few months.’ He then walked off, leaving me stunned. In his eyes, I will be getting a real job in the next few months. His statement infuriated me. He failed to see a business owner, a marketeer, a salesperson, and an accountant, a business owner who has the same issues as any other business owner. However, I offered a service that he didn’t respect, which was odd, as he suggested to his clients to use a VA.
I am still going strong, and he is still in the same networking sphere as I am. Recently, he tried to get me to join his Action Coach mentor group to help get my business over its first three years. I started my business in 2002. My business has been going for a lot longer than 3-years, and I had to remind him of parts of our previous conversation. He politely said sorry, he didn’t recognise me. His attitude to his clients is not at all complimentary either. He describes them as buying units. Not people, not businesses, but buying units. How many people do you think I have recommended him to?
Confidence
Going back to the phrase getting a real job, what does this mean for the self-employed person? The business owner must have the confidence to continue with the business. The self-belief that what they are doing is worthwhile and that the short-sightedness of the other person does not affect their confidence, plans, or business. All this shows there is that lack of self-belief in the other person. A self-employed person has the confidence to believe in their talents and skills and provide the service better than anyone else.
Small businesses work within the sphere of other small businesses. myPA provides admin support to a web developer who provides a website for an IFA who gives financial advice to individuals. It is also interesting to note that the small business, self-employed, and micro-business sectors didn’t get affected by the recession in 2008. We continued to offer the services, turn up to networking meetings, and help our clients survive the downturn in business. The significant effect of the recession for small businesses was a lack of cash flow, generally because of larger companies not paying their bills on time or instigating 90- or 120-day payment terms.
Why was there a cash flow problem?
Payment terms are agreed at the outset of a contract. However, during the recession the owners of small business called their larger clients for payments, and an employee said payment would be delayed. (I lost two clients because of this cruel practice. Their business was a success but needed the cash to pay staff. The owners couldn’t live on cash reserves for two to three months at a time. This also brings in the story of One, which will be another video in this series). But if you told that employee their salary would be delayed by 90 or 120 days, it would be a very different story. I know small businesses that now refuse to work with larger organisations.
An example of now working with large businesses
There is an unwritten understanding that small and micro businesses rarely work for the government because of the payment return. It is far too challenging to get a contract. The number of hoops, reams of paperwork and legal requirements placed on the small business makes it an unprofitable venture even to start.
I know of a small business invited to tender for a government contract. They hired someone to help with the tender paperwork. They increased internal security and upgraded IT systems at their request. Three months of attending meetings, redoing forms, and providing evidence of their service. At the last hurdle, the contract was awarded to an existing supplier. This small business lost thousands of pounds and will never work with or apply for a government contract again.
Are small businesses worth it? Just try Getting a Real Job?
Small businesses are adaptable to changes in the market. They are flexible and offer a quality of services to their clients. They are approachable, and you will always deal with a human being. Just look at LinkedIn, search for small businesses. Look at the likes of BNI, who cater for small businesses and finally think about all those lorry drivers, builders and electricians and plumbers. Most of them are self-employed. We make the world go around. Being self-employed brings ingenuity, innovation, and creativity. So why would you think about getting a real job? We already have one.
I remember I started answering the telephone for one of my clients and the phone provider (I think it was BT) gave my clients 0845 number to Tesco. My client had this number for three or four years. Someone at BT had made an error. We got calls from Tesco’s customers as they held a fruit yoghurt competition. We had a nervous few days trying to sort out this issue. BT and Tesco telling us that the small business would have to get another number and take the hit on reprinting their business cards, headed paper, and other marketing material. All my client’s hard work over the previous three years marketing the business. The cost of that would be in the thousands.
Small businesses work hard for what they do. The thought of getting a real job, or I should say a salaried position with an employer, would never cross their minds or mine. I have a real job and love what I do. My boss can be demanding, but you know what, I know her very well and can ask her anything.
What I learnt about writing my memoirs for getting a real job
- Asking a self-employed person when they are getting a real job is an insult to the hard work, dedication and time a self-employed person has made to make their business viable
- Self-employed small businesses need the support of those around them
- Small businesses make up most business in the UK
Writing My Memoirs – 31 Day Challenge – Video and Blog Posts
Day 18 – Webbie wednesday
Webbie Wednesday is my favourite name for the some of the task I undertake every week. Apart from my post yesterday, I am very organised and have set up several systems within my business to ensure that all tasks get done on time. You need to when you are running a business. Not only can you achieve your goals and become a profitable company, but because there are legal requirements for running a business.
For example, every year, the government wants to know how much you have earned. They want to know that your accounts are in order. That you are paying your staff correctly and your team is paying the correct amount of tax. If you are VAT registered, you need to make a return every three months (sometimes that time can be longer, but most are every quarter).
Suppose you have investors in your business who also want to know about their return on their investment. They need to understand that the company is running profitable and that you are not squandering money. As a business owner, you need to know that you are not spending too much. You can afford to pay your staff, pay yourself, and cover all expenses. Not only that, you need money to invest in your business, your marketing and your team.
Knowing your finances is vital. The phrase MONEY IS KING comes to mind. However, most accountants would follow that with KNOWLEDGE IS QUEEN.
Webbie Wednesday
Some soft services also need to be scheduled. For example, your marketing needs to be consistent and on point. As a result, I have created Webbie Wednesday. Every Wednesday, I will update my websites, check the links and reply or delete comments.
Contact Monday
On Monday, I call five clients to ensure they are OK, happy with what is going on and see if there is anything else I can do. It is so much easier to work with an existing client than to get a new client. Contacting some of my clients also reminds them I am here and creates a better working relationship.
Finance Friday
I used to hate Finance Friday. My accounts were all over the place and a nightmare, mainly because I was not too fond of the software package I was using. I used to use Quickbooks, and it is just not intuitive or user friendly to my mind. I have since changed to Xero and love it. The software is always up to date, and I can safely say that Finance Friday is now a joy and my accounts are in order.
What I learnt about writing my memoirs
- Staying on top of my accounts is a joy when I like the software. Put another way, when you like the tools you work with, the task is much easier
- Knowing your finances enables you to plan for your business, especially growth
- Fun names make the task easier
Writing My Memoirs – 31 Day Challenge – Video and Blog Posts
Other Social Media links you may be interested in
- YouTube
- Instagram https://instagram.com/thestorylady_pmys
- Twitter https://twitter.com/PublishStories
- Facebook https://www.facebook.com/publishmystorie
- Website: http://www.publishmystories.com/
- Blog Post: https://bit.ly/3k4I4U2
- LinkedIn: https://bit.ly/2VZ6Vkg
Day 15 – My Hour of Power
My Hour of Power
My Hour of Power has become an essential part of the daily preparation for my business development. On a Sunday, it has become a unique ritual, referred to as ‘Prep for Monday’. It is a ritual that I have created and worked on for the last few years. It started when I had four additional staff members, and I needed to know what work to allocate each member. Like all people, each member of my staff had unique skills, and I wanted to ensure that they worked to their full potential.
NB – I got the term Hour of Power from Tony Robins and one of his programmes on life achievements
What is my Hour of Power or Prep for Monday?
My prep for Monday is straightforward. On a Sunday, at about 4 pm, I will check all my incoming emails to view any new tasks. I will also look at my company to-do list and ensuring that all company requirements are achieved. Then all client requests are scheduled promptly and within the deadlines set by my clients. This is very different from my to-do list, the jobs I must do daily. It is easier to think of my company as one of my clients.
I will then check our task management system to confirm that all the tasks for the previous week had been completed. New tasks are allocated. The process only takes about an hour but has become a Sunday ritual.
What results from Prep for Monday?
This one hour prep on a Sunday has saved two or three hours on a Monday. I understand the business needs for the week ahead and a priority of tasks for the week ahead. it also means that our task management system is up to date and accurate.
Task Management System
We use a task management system called Asana. It is an online software package that offers a paid version and a free version. I currently use the free version and find it invaluable. Asana helps me remember all tasks clients need us to complete and the status of each task. It also offers team collaboration on projects, so as a manager, I can view the status of a task without wasting time chasing. It means that I must ‘let go’ of the control I have over tasks and trust my team to do the job asked of them. Like all systems, it is only as good as the data entered and valuable if everyone uses it the same way. I run my business in Asana.
Sunday Emails
I will rarely send out emails on a Sunday during my Prep for Monday hour, my hour of power. Emails will be schedule to be sent on Monday. Communication is the key to keeping my clients happy and informed.
What I learnt about writing my memoirs
- My hour of power on a Sunday will save me hours on a Monday
- I need to trust my staff to do the tasks I have asked of them
- Any project management/ task organisation software package is only as good as the data entered
Writing My Memoirs – 31 Day Challenge – Video and Blog Posts
Day 7 – Is your business a destination business?
A Destination Business?
Is your business a destination business? Or is it a I need business and don’t care who you are as long as you can sort out my issue? Alternatively it could be a luxury business that would be used occasionally by those with money to spare? It’s a tricky question to answer. My business is a need now business, but I want it to be a destination business.
I went to IKEA today, and this must be one of the most successful destination businesses there are. When you go to IKEA, it’s more of an experience. Indeed, some of my friends tell me how they enjoy going to IKEA to have the ‘IKEA experience’.
The IKEA Experience
The Ikea experience involves arriving at IKEA at about 10.30 or 11 am, going directly to the café and having meatballs, chips, and a coffee and then walking around the shop for a few hours getting ideas and discussing the rooms created by IKEA. After shopping, they return to the restaurant for something to eat on the way out. They plan to spend at least five hours just walking around and looking for bargains. Indeed, IKEA is a destination business.
(The perfect business waiting area from IKEA)
Destination businesses can also be online, for example, Amazon, eBay, and YouTube. These websites understand their customer’s needs. They offer the services quickly, efficiently and without complications. We know they will deliver, and we trust that the information from these sites will be accurate, informative, and valuable.
What makes a destination business?
Make sure you understand your customers’ needs (or how you will solve the ‘pain’ they are currently in) and what it is they are after. Leverage your products in a way that your customers understand what it is your offering. How can you make your products or services vital to your customers? For example, if I say I am a solicitor and leave it at that. Will my customer know what services I offer? We know different solicitors provide different services—for example, Contract law v Criminal Law. If I said, I am a contract solicitor. You understand with certainty which part of the law they work.
Add an Upsell
Add an upsell – something your customers didn’t think they wanted until you showed them how important or valuable it would be for them. Going back to IKEA, if you popped in for a few candles, how likely are you to browse the store and pick up a few other odds and ends. I could never go into IKEA without spending at least £60. Did I need the items before I went into IKEA? No? Did I know the things existed before I went into IKEA? Not only did I not know they existed, but I didn’t know I wanted them.
My website is www.publishmystoires.com. In the title, it states that I publish stories. Within that heading, there are sections for writing memoirs, publishing fiction and poems. My blog www.forgetmenot.publishmystories.com is all about writing my memoirs and letting people know that writing memoirs are easy once you understand your topic. Therefore, I clearly state that I can transcribe manuscripts ready for publishing.
How to upsell on a website?
Upselling has been standard on a website for many years. It starts with you giving your email address for a free eBook or something else just as enjoyable. Then at check out, you see other items that may be of interest. You will even a notice of how many people have bought that item today. Confirming that your decision was wise and other people agree with you.
My upsell is letting my authors know I can arrange for their books to be published. I can also create a simple website for them and help them start their marketing plan if needed.
Getting customers to trust you and your services
Getting customers to trust and respect you is not as easy as it sounds. You must provide flawless service. Have superb customer services and aftercare. The product has to be outstanding, and you need to be as passionate about your customer as they are. The customer needs to feel that they are the only person you are looking after. To be blunt, you want them to come back time after time and tell everyone about your reasonable service. Testimonials, customer feedback, and surveys are so important.
What I learnt about writing my memoirs
- Customers will support and spend money on a destination business
- Understanding your customer’s needs and easing ‘their pain’ has to be the target for any entrepreneur
- A thriving destination business is the responsibility of the owner and customer. Customers will vote with their feet or credit card.
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