Do You Have a Hobby, or a Business?

Posted on January 4, 2012 by Donna Harris

Making money is a hobby that will complement any other hobbies you have, beautifully. ~ Scott Alexander

I am often surprised at the people I talk to who claim they have a business – yet they’re not willing to invest any money into it, and not much time either.  Often times I will ask the question, “Do you have a business, or a hobby?”

What’s the difference?  Well, the first one is attitude.  Business is serious.  If you are truly a business, you have your licenses and permits in place, your books are kept up to date, you know what your return on investment (ROI) is on your advertising and marketing plans, you have things like business cards, brochures, and a brand.

Business owners are serious about their business.  They take their work seriously.  They find out what their customer base wants (no matter what you do, it’s only a hobby if you don’t have customers).   They meet deadlines, they hire employees, they invest their time and energy into becoming better and better at what they do.  They succeed, because they plan to succeed.  And they don’t make excuses – they get results.

According to the IRS, a business can be expected to show a profit for 3 out of 5 years. If it doesn’t meet that test, it will likely be reclassified as a hobby, and not a business.

Business owners understand the difference between an unnecessary expense and an investment.  It is true, you have to spend money to make money.  You need staff, an office (even if it’s in your home, a dedicated space to doing business), a telephone, and so forth.  Even if you’re bootstrapping, you do still have to spend money to make money.  If you’re not willing to deal with the expenses, then ask yourself again – is this a business, or a hobby?

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Networking 101

Posted on November 9, 2011 by Donna Harris

Position yourself as a center of influence – the one who knows the movers and shakers. People will respond to that, and you’ll soon become what you project.~ Bob Burg

Why do we attend networking events?  I’ve been to many where it was basically a “let’s all be friends” approach – very nice, kinda fun, but didn’t do anything for my business.  And I’ve been to too many where, after giving my elevator speech, I was approached over and over again by people who wanted me to buy what they’re selling.
How off-putting.  Why? Because if I had any idea that they could help me, that their products or services would be valuable to me or to my clients, I would have approached them first.  Rather than feeling like I was assisting them, I felt like they didn’t respect my time. Not only that, I feel like they are desperate.  And I don’t really want to do business with some desperate, clinging vine who doesn’t really see the value in their own product or service.
I approach people for networking on one of 2 occasions.  Either they have something I want – a product, a service, even a potential speaking engagement – or they have something that I think is so unique that I want to help them in some way.  In other words, they have something I find value in.
If your product or service has value to me, not only will I be interested in buying it, I’ll be mentally going through the names of people I know who might benefit from it as well.
Make the most of your networking.  Your time is valuable.  Find those people whose services and products are valuable to you and your clientele, and avoid selling people who don’t see the value in your services.  Maybe now is not the time, maybe they don’t need your service right now, but if you oversell, you’ll put them off.
Happy networking!

 

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That Stack at the Back of the Desk..

Posted on November 1, 2011 by Donna Harris

“The physics of clutter is that it will come into your office without your assistance, but will not go away without your assistance.” ~ Julie Mahan

Take a look at your workspace.  Look at your to-do list.  Do you see it?  That list.  That stack at the back of your desk that won’t go away.  The one that makes you shudder when you think of it because you don’t want to deal with it.  That’s the list with phone calls that need to be made, the tax returns you neglected to file, the receipts that are slowly going white and illegible because they’re shoved in a stack at the back of your desk.

Perhaps you tried the “out of sight, out of mind” approach and shoved them in a file drawer somewhere.  Perhaps they’re at the bottom of your inbox, which you know you will never reach.

Maybe you’re filing by the “geological” method.  You know – the new stuff is on top, the old stuff is at the bottom.  How to deal with all this?

Everyone has things that reflect their unique genius, and other things they hate.  Being an administrative assistant, I know lots of people really detest the little, detailed tasks that are really required for business to take off.  Sometimes the fortune is in the details, however.

I would suggest that the best way to deal with that stack at the back of the desk is to just tackle it.  I tell my kids all the time to start with their least favorite homework, that way it’s done and over with.  Use the same principle with your least favorite task.  Do it first thing in the morning, before you can come up with excuses for not doing it, and while you’re fresh.

Are you putting things off because you don’t know how to do it?  Find someone who has that specific genius.  Even if you have to pay a bit more, that’s ok, the consequences of leaving things undone are too high to continue to avoid them.  There is a huge energy drain – get this stuff off your desk and reclaim your energy.

Or (you knew this was coming, didn’t you?) hire a VA.  We have VAs who specialize in all sorts of things.  We can get your data entered, your scanning done, and handle all those details you’re trying to hard to avoid.  You hate it.  We enjoy it.  We’d like to help!

 

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Got Goals? Write Them Down!

Posted on September 22, 2011 by Donna Harris

In absence of clearly defined goals, we become strangely loyal to performing daily acts of trivia.~ Anonymous

Do you want to make more money?  Get more done?  Become more fit?  When?  How?  What does that look like to you?  Do you have goals?  Are they written down? What about the steps it will take to accomplish them?

How important is it to set goals?  According to Mark McCormick in “What They Don’t Teach You In Harvard Business School”, goals can make the difference between living paycheck to paycheck (or even needing financial assistance) and real wealth.  A study done by Harvard showed that only 3% of a graduating class had clear, written goals, another 13% had general goals, and a whopping 84% of the student population had no goals at all.

Guess who enjoyed the most success?  10 years after graduation, 84% were either on financial assistance or living paycheck to paycheck.  13% were doing well.  The other 3% were making 10 times more than the other 97% – combined!

Why do so many of us fail to even make goals, much less write down clear, well defined ones?  I am huge on manifestation and goal setting, and even I have a hard time defining what I want.  It’s so easy to run through life on cruise control.  However, 2 months ago I set some concrete goals with a deadline, and determined what it would take to accomplish them.  I also set some clear, intermediate goals that would let me know if I was on track.

I decided what my ideal client would be like – and wrote it down.

I decided what my ideal VA would be like – and wrote it down.

I decided how much money I wanted to make in 6 months, and what I needed to do to make that happen.  I also included where I wanted to be in 2 months and 4 months.

And….it’s happening.  I am so excited to see the changes in my business!  I’m even more excited to realize that clients and friends are now looking up to me as  a business expert and asking my opinion on their businesses!  All because I wrote my goals down.

It can happen for you.  Where do you want to be next month?  Six months from now?  Next year?  What needs to happen in your business, every day, every month, every week, to make those things happen?  What needs to be released from your life to make room for the things that matter the most?

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Effective Delegation

Posted on September 21, 2011 by Donna Harris

“Never tell people how to do things. Tell them what to do and they will surprise you with their ingenuity.” –General George Smith Patton, Jr.

Smart businesspeople will tell you, over and over, that you can’t do it all.  You certainly can’t do it all by yourself.  You need to build a team.  Bring them on-board with your ideas and visions, and let them help you turn them into reality.

Amazingly, however, many entrepreneurs have a hard time doing exactly this.  They are control freaks who want to maintain their own books, take care of their own paperwork, take care of their clients, do it all for their families, and then they wonder why nothing gets done, and worse, nothing gets done well. In most businesses, the books alone can be almost a full time job, best done by someone who does only bookkeeping.  The paperwork pile is best handled by someone who does that well.  And client work can be done by a trained, trusted associate as well!

It’s time to let go.  Let go of the paperwork, the books, the control, and focus more on your unique genius.  As the business owner, you can make decisions no one else can.  As you learn to let go, and delegate, you make room for better things to come into your life and your business.

Assistants – virtual or not – can help you see opportunities you can’t otherwise see.  We can help handle details that often get overlooked.  When was the last time your monthly newsletter went out?  Last month?  Last year?  Have you been too overwhelmed to get it out regularly?

Spend some time thinking about that stack of work at the back of your desk that makes you cringe every time you look at it.  Make a list of the things you know you should do, but just can’t seem to get to.  Start thinking today about what responsibilities you truly need to keep, and what responsibilities you can delegate to someone else.  Write down the things you do every day for a week, and start considering if you should be doing those things, or if your time would be better spent in other areas.

What are the things that truly need your attention?  What are the things you truly do not want to do?

Then consider the opportunity cost.  What is it costing you to actually do this yourself?  Are you sacrificing marketing and networking time?  If you’re not constantly selling, marketing, and growing your business, you’re letting it die.  Could you fill that time with new clients or other revenue-generating activities?  Could you fill that time with brainstorming ideas for your assistants to work on that will generate revenue down the road?

Delegating is a vital part of every business.  Build a team.  Create greater success now, and in years to come!

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Protect Your Time

Posted on July 7, 2011 by Donna Harris

Dost thou love life? Then do not squander time, for that’s the stuff life is made of. – Benjamin Franklin

Business owners have a lot of demands on their time.  From incoming phone calls, to sales people wanting to see you, to employees needing questions answered – where is your time going?  Does everything have to go through you?  (Does it really?)  Wouldn’t it be nice to go home to your family at a reasonable hour, instead of spending yet another late night at the office?

Our clients are able to save tremendous amounts of time by hiring Busy Bee VAs to help them protect their time.  We can answer the phones, screen your email, and handle your mail so those details aren’t taking so much of your time – and we can notify you immediately if something comes in that requires your attention.  We can prepare operating manuals and hiring packets, so your employees have the information they need to help you grow your business.

Are you ready to give your business the attention only you can give?  Then let the staff at Busy Bee VAs handle the rest!

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Taking Responsibility for Your Own Life

Posted on July 6, 2011 by Donna Harris

“Take responsibility for my own life, or blame you?  Ding ding ding!  Blame you wins hands down!” ~ Bowler Hat Guy, Disney’s Meet the Robinsons

We’ve all met them.  People who would much rather blame others, instead of taking responsibility for their own lives.  Perhaps sometimes we fall prey to that mentality ourselves.  Let’s face it.  Blaming others doesn’t do much other than provide a fleeting sense of justification.  It certainly doesn’t get us the results we want.

If you’re tired of excuses, and are looking for results, read on.

The first thing to do is to see the problem.  This has never been difficult for me – all the same, it is a challenge for some. What exactly is the problem you’re trying to solve?  I’d even go so far as to define it.  Is it profitability?  Sales numbers?  Take the time to hammer down what the problem is.

Then own it.  Look – passing the buck doesn’t get you anywhere.  The problem should belong to everyone on the team.  You want a successful business, right? Then get rid of the idea that “It’s not my job.”  Business success – especially with small business – is everyone’s job.  Bring your team members on board with you.

Brainstorm ideas to solve the problem.  I’d go so far as to avoid a band-aid patch – don’t just fix the immediate crisis, really solve the problem.  Losing clients?  What quality control issues can you implement to ensure it doesn’t happen anymore?  How can you prevent the problem – not just now, but in the future?

Lastly, do it.  So many great solutions fail in the follow-through.  Do what you know you need to do to solve the problem.  Implement your solution.

Then ask yourself (and your team) one more question.

What else can you do to ensure the results you want?

Take responsibility.  It will pay huge dividends.

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Managing Time For Small Business

Posted on May 31, 2011 by Donna Harris

“I am definitely going to take a course on time management… just as soon as I can work it into my schedule.” - Louis E. Boone

Probably the biggest challenge facing small business owners is structuring their time properly.  It’s so easy to let time consuming tasks take over!

My suggestions would be: Determine what the most important tasks are that MUST be done.  What’s your top priority?  It may be helping a client – or it may be going to Susie’s recital.  Whatever is most important should be at the top of the list.

Delegate anything you possibly can.  Even though those tasks may not really take that long, the time you save will add up in the long run. I never plan meals any more, the wonderful staff at Saving Dinner handles that for me, and emails me my menus for the week, complete with a shopping list!  That’s an hour of my time I can spend on other things.

Look at the urgent items.  Are you spending unnecessary time putting out fires?  By definition, it’s much less time-intensive to prevent problems than to deal with them once they’ve reared their ugly heads.  What can you do to prevent problems from arising?  A virtual assistant can help you write a procedures manual, for her work and for yours, to keep problems and emergencies to a minimum.

Are you keeping in mind what you want in the end?  If it’s more time with your family, then it’s important to start spending time with the family now.  If  it’s a more efficient, duplicatable, massive business, then it’s vital to put the systems in place now to allow that business to grow – even if you’re a mompreneur working from your kitchen table now.

Begin with the end in mind.  This will help you keep focus.

Some people (like me) prefer to block out chunks of time during which they are just not available.  I like to do this because it helps me see what time I’ve already committed and how much I have available for other projects.  From 7-8am I’m working out; from 8-9 I’m getting ready for the day, from 9-11 I’m planning and starting my day/week, from 11-2 I’m with a client — well, you get the idea.  One quick glance at my color-coded Outlook calendar and I know when I have commitments and when I have time available for meetings.

Eliminate unneeded interruptions.  You can’t keep the baby from crying, but you can hire someone to screen your calls and take messages, or use voice mail.  (Incidentally, I recommend using a live person, such as a Busy Bee VA, because a lot of people just refuse to leave voice mails.  I know I get sick of the endless voice mail and computer prompts.  Using a live person shows professionalism, and that you care enough about your clients to have someone answer the phone in person!)

Set aside certain times to answer emails.  I have a client who is available for questions from his staff only at certain hours of the day, because he has so much he has to get done.  He lets them know when he is available, and expects to have his quiet time respected.  A much more efficient policy than an “open door” policy!  By having specific times set aside to respond to emails/phone calls, you reduce “switching time” and make yourself more efficient.

And, I can’t say it enough…..delegate, delegate, delegate.  Your VA can help you save a lot of time!

 

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But I Can’t Afford to Delegate!

Posted on May 30, 2011 by Donna Harris

“Why are you doing it? What can you buy that you can’t already afford?

The future, Mr Gittes, the future.” Robert Towne, American Screenwriter – 1936-

Which way are you going?

What kind of future do you want your business to have? What kind of future do you want to have for yourself and your loved ones?

The things you do today are the things that will become the habits of tomorrow. Why did you start your business? Think about it. I started mine to provide more options for single, working (or stay at home) mothers, women (and men) who want to have more time at home to be with their kids. I have to keep that mission in mind as I build the business.

You really can’t afford not to delegate. Even if it’s just a few “little” tasks, the staff at Busy Bee Virtual Assistance is more than happy to help you achieve your business goals. We’ve structured our pricing schedule to be as simple, easy, and affordable as possible. Still too expensive? Talk to us about your specific needs.

Business owners need to do what no one else can do. Let us take care of the rest. What’s mindnumbingly dull to you, is fun for us!

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Stop trying to do it all yourself. Delegate!

Posted on May 29, 2011 by Donna Harris
“No person will make a great business who wants to do it all himself or get all the credit.” -  Andrew Carnegue 

 As I work with many business owners in Utah, I keep hearing the same refrain over and over.  “We need to be self-sufficient.” 

Yes, here in Utah (and I love Utah, this is my home by choice), self sufficiency is king.  This is the home of the MLM, the food storage and preparedness business.

But you can’t build a business all by yourself.  Yes, you may be perfectly capable of handling your own calendar, setting your own appointments, hiring your own personnel, but why are you doing everything yourself?  The fact is that even these “lowly” tasks can be time consuming.  You, the business owner, need to focus on the tasks that earn your money.  The things that you, and only you, can handle.

Office help is expensive, though.  And hourly employees are not necessarily motivated to get the work done in a specific time frame – job security is found in extended the job!  What do you do?

Contact Busy Bee Virtual Assistance.  Our new package pricing plans help you budget your expenses.  We work from our own offices, provide our own supplies and equipment, pay our own taxes – all money that stays in your pocket.

We’re perfect for startups that haven’t built a business to the point of needing full-time, in-house assistance, or larger businesses that just need seasonal or special-project help.

Contact us today!

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