Vol. I, Issue 03

Hello to All,

Welcome to this issue of The ART of Business newsletter and a big welcome to all the new subscribers. I hope you enjoy this week's feature article, My Dog Ate My Homework! How To Prepare For Business Success in 2006. It was inspired by our lovely, not-so-little puppy, Monster (the name totally fits!), pictured here.

My Dog Ate My Homework! How To Prepare for Business Success in 2006

1. Out with the old, in with the new: getting organized

   My office was a disaster in the making. With papers and books and files teetering on the edge of my desk and spilling over onto an adjacent tabletop, it's a miracle the fire department didn't declare it a fire hazard! But since my space is usually off-limits to the rest of the household, I was comfortable with the clutter. Until Monster got in. He snatched a pile of documents from my chair and dashed toward the doggie door in the living room. By the time I got to him and snatched the papers away, there were teeth marks and dog drool all over them.

   I had to get organized. No more scattering stuff every which way. If it hadn't been for my ultra-casual attitude about my office, I wouldn't have had to spend all that extra time repairing my project before I could turn it in. Never again.

   That night I sat down with a jumbo garbage bag and cleaned out my office. I was ruthless. Expired coupons, unread ezines, notes from my daughter's school--garbage. Invoices, interview and article notes, receipts, warranties, paid bills--filed in their respective folders in my filing cabinet. Work to be done--sorted by due date and filed on stacking shelves on my desk.

   If there wasn't an existing space or file for something, I created one. Notes about impending workshops, meetings, and appointments got tacked up on my bulletin board. When I finished, several hours later, my office looked so professional I almost didn't want to want to work in it, for fear I'd trash it again.

   Since that day a few weeks ago, my productivity has nearly doubled! When I sit down to work now, I have everything I need at my fingertips; no distracting scraps of paper vying for my attention. I'm able to focus one hundred percent on the task at hand, and I get through my work in almost half the time it used to take!

   My suggestion: take some time over the holidays and rid your workspace of worthless waste. File what you need, trash what you don't. You'll be amazed at how your productivity will skyrocket when you start with a "clean slate"!

2. Give value-added service

   Even though my client found it amusing that the working documents she'd provided (which thankfully were copies of the originals) had bites missing from them, I still gave her a ten percent discount on the project. In the end she paid me full price, remarking how impressed she was that I offered the markdown. This is the same client for whom I do extra work on occasion, above what's included in the original project quote, for which I don't bill her. I've also provided her with rush service (a fast turnaround) for which I don't bill a rush charge, even though I could, according to our contract.

   This client knows she's getting quality work from me at a reasonable price, and that I often go out of my way to make her job easier. This is value-added service. Her appreciation has resulted in several referrals, and some of those have subsequently become regular clients also.

   My suggestion: try to give your clients unexpected "bonuses" on occasion. A discount on every fifth purchase, or delivering work a few days before it's due, or sending them newsclips on subjects you know they're interested in. Give them more than they expect and they'll keep coming back for more.

3. Build strong bonds with your clients

   It takes time to develop a mutually beneficial working relationship that works for both parties. When you first establish a connection with a new customer, keep in mind that their primary concern is "What can you do for me?" They rightfully expect you to deliver, on time and within budget, a quality product or service. Every time. When you meet or beat their expectations consistently, you build strong bonds that can withstand the occasional mishap or delay in delivery.

   My suggestion: set realistic parameters when negotiating the terms of a project--if you don't think you can meet the client's deadline, say so up front. Losing out on a potential job will be less costly than the damage to your professional reputation if you blow the deadline. Set yourself up for success by setting reasonable goals that will allow you to deliver, on time and within budget, every time. That way you consistently prove your competence, and build those bonds that are vital to a mutually beneficial client relationship.

4. Diversify your client base

   I was lucky that "the Monster incident" turned out for the best. It might have easily gone the other way though--I could have lost this client. That got me thinking.

   I've got a handful of clients that I work for on a regular basis, but one in particular has become a thorn in my side. Where they used to make regular payments, no less than biweekly, I'm spending more and more time chasing after unpaid invoices and making repeated follow-up calls because of "administrative delays" in their accounting process. I've become so frustrated that I'm ready to fire them as my client. The only reason I hesitate to do so is that their work provides a healthy portion of my monthly income.

   One of my goals for the new year is to replace this income with revenue from other sources. I've spent the past several months nurturing new ideas for additional income streams, and I've now realized it's time to diversify.

   My suggestion: look around at other opportunities to grow your business, whether it means implementing a plan to generate passive revenue, or doing more marketing to expand your client base. You've probably heard the saying, "Don't put all your eggs in one basket"--it's solid advice. Take it from me, it's better to do a little work for a lot of people than a lot of work for just a few. Plus, the more people who know and trust your work, the faster "word-of-mouth" can do your advertising for you!

5. Make plans for making passive revenue

   Self-employment is a beautiful thing, but one major drawback is the lack of a safety net in the event something happens to you or your business. Natural disasters like Hurricane Katrina, for instance, can lead to financial ruin. Even a temporary absence, like maternity leave, can devastate your finances unless you've planned accordingly beforehand.

   My suggestion: when you sit down to plan your 2006 budget, make sure you allocate a percentage of your income to go toward savings, investment, retirement fund, or some other form of passive revenue that will sustain you in the future.

Your future is in your hands. Make 2006 the year your business blossoms.

Best wishes to all for a safe and happy holiday and a prosperous New Year. See you in 2006!

Wishing you all the best,

Angel Brown

www.womens-business-gallery.com

Please feel free to forward this newsletter to your friends and co-workers. You can subscribe to this newsletter by visiting: www.womens-business-gallery.com/newsletter.html

Copyright 2005 by Angel Brown. All rights reserved.

Published by the Womens Business Gallery, Woodland Park, Colorado