Dream Catcher

Small business owners must choose their words carefully when describing what they do. The consumer or customer associates a skill level and product value when he or she hears certain words. Words enable the listener or reader to draw a picture in his or her mind based on his or her life experiences.

When a small business owner is developing his presence online or offline through social media, marketing, or public appearances the word he or she uses to describe his or her profession will result in his or her earning potential.

Below are three examples of how choosing one word over another will put more money in the small business owners’ bank account.

1. Artist or crafter. When a consumer hears the word crafter he or she thinks of someone who sells his or her products at flea markets and craft fairs. The consumer often sees this as a hobby for someone who is retired or just trying to earn a few extra dollars. They assume the person is self taught and the value of the item is dirt cheap. People attend craft fairs looking for a steal. When the consumer hears the word artists he or she thinks high ticket item or one of a kind. He or she automatically thinks the artist has invested heavily in his or her education and the consumer is willing to pay a premium price for the item. If you are selling quilts or handmade items you need to decide before you start your business if you are a crafter or an artist and brand yourself accordingly. An artist will be able to earn more money for his or her quilts vice the small business owner that says he or she is a crafter and sells his or her items at a craft fair.

2. Cake designer or cake decorator. A person touting him or herself as a cake decorator will not command as much money as a cake designer. A cake decorator decorates cakes that are often designed by someone else. A cake designer designs the cakes and may decorate them. A cake designer is an artist. He or she will command more for a cake that is one of a kind because of the exclusitivity that the consumer pictures in his or her head. A customer will be willing to pay more for a one of a kind cake and the bragging rights that goes with it. Anyone can purchase a cake decorated by someone at a local grocery or discount store. But, not everyone purchases a cake from a cake designer. If you are a cake designer make sure you are using the word designer to sell your art.

3. Girl Friday, Secretary, Executive Assistant or Virtual Assistant. The word secretary will have the reader or listener picturing a woman who types and answers telephones. She will typically make minimum wage. A Girl Friday will be thought of as someone who runs errands, types, answers telephones, makes reservations and does whatever is needed to assist the boss. The term Executive Assistant is often thought of as the behind the scenes person who assists the boss. Guess who earns more money? If you guessed Executive Assistant you are right. All three typically do the same job in today’s work place. They all demand being discrete and professional. Yet, the Executive Assistant demands and gets paid the higher salary. If you enjoy being a Girl Friday or a secretary I highly suggest you change your title to Virtual Assistant or Executive Assistant so that you can demand top dollar. Many Virtual Assistants earn $60-90 per hour. Virtual Assistants may work for more than one person and are often a business owner since they are an independent contractor.

Consumers are not aware of the stereotypes they apply to various professions. But, they do know what they are willing to spend when they are shopping at a flea market or craft fair. They know what they will pay for a cake at a discount store and why they will seek out a cake designer at a bakery. Small business owners also fall into the trap of paying a certain wage for a secretary regardless if he or she is performing the tasks of an Executive Assistant. Remember, specialists command more money. Choose your words carefully when describing what you do. Do not sell yourself short by using the wrong word and communicating the wrong image to the customer.

Jaynine Howard is a retired United States Marine and former psychotherapists. She is the owner of Dream Catcher Business & Life Coaching. Founded in 2006, Dream Catcher Business & Life Coaching helps business owners, nonprofits, and individuals nationally and internationally turn their dreams into wealth and success. Coach Jaynine and her team of associate coaches will help you jump start your business and life through business, career, and life coaching. Jaynine is a member of the Jacksonville-Onslow Chamber of Commerce, the Carteret Chamber of Commerce, the American Psychological Association, 24/7 Coaching, and Coachville. You can learn more about Dream Catcher Business & Life Coaching by visiting http://coachjaynine.com/blog/ or by calling 910-539-2810.

It is an exciting time of the year. Next month Dream Catcher will be celebrating its four year anniversary. I will be launching new programs and services. I will be offering you the opportunity to purchase strategy sessions and various home study courses. I will continue to offer 1 on 1 Coaching and my Dynamic Business Owners Coaching Club.

As I end my third year in business it is exciting to announce we have continued to grow despite the economy. In 2009, my business grew by 1900%. This month we have exceeded our gross income for 2009. My clients have also had tremendous success this past year. I contribute my success to refining my follow up procedures.

When you know how you are going to follow up, when you are going to follow up and what you are going to send or say it relieves stress and saves you time. But, most importantly it shows off your professionalism and gets you a signed contract. You must follow up and ask for the sale.

I have designed a home study course that walks you through every step of following up when you get a lead. The home study course contains a checklist for following up with leads, what to do when they say “NO”, and what to do when they say “YES” and after the contract is signed. It contains sample scripts for various objections so you can prepare what you will say. It also contains a list of resources to use for following up. A phone call or email is not your only ways to follow up. The home study course will also help you examine your fear of following up. Procrastination is fear keeping you from moving forward. You will learn to change your mindset and understand the value of following up with leads. Lastly, for those of you that prefer to have something on paper there is a follow up tracker that you can use to record the leads and the dates and times you follow up and action taken. I’ve taken the guess work out of it for you. You just need to slightly modify the home study course for your particular business.

If you are ready to put more money in your bank account and design your follow up procedures I invite you to download my home study course Put More Money In Your Bank Account: Follow Up

As a business coach, my goal for you is to help you make more money. Download your home study course today to that you can turn your dreams into reality.

Dream Catcher is a Veteran Owned and Woman Owned Business providing business and life coaching services to clients nationally and internationally. Coach Jaynine retired from the United States Marine Corps in 2002 and since then has been on a quest to assist individuals in turning their dreams into wealth and success.

If you are a United States Marine you have attended boot camp and probably heard the phrase “No one ever drowned in their own sweat.” This statement has served many Marines well. It resonates with Veteran business owners too. But, what does it really mean for a business owner? It means this:

1. You must be willing to do the unpleasant things. When you are first opening your business you probably will not have the money to pay someone to clean the bathrooms and sweep the floor. You will have to do these things yourself. You may find yourself washing windows and mowing the lawn too. If you are a Veteran Business Owner you may find yourself thinking “Wow, I’m not a Private anymore. I’m the boss, the big cheese, the big kahuna”. Well, I’m here to tell you “If you want your business to be debt free you are going to have to be the cleaning lady, window washer, and lawn service”. You may need to be the one “policing” the parking lot in order to keep it clean. Military field day has prepared you well for these tasks.

2. You must be willing to put in long hours. I know I know you have retired once and now you are ready to live life on your terms. You are ready to golf in the afternoon and go to lunch with your friends. But, if you want your business to become successful and not operate in the red you must be willing to put in the long hours. You must be the bookkeeper, marketing director, human resources director and all the other figure heads that go along with running a business. When you put in the long hours you will grow your business more quickly and then you will be able to outsource and delegate after the money is rolling in. But until then you must be willing to put in the sweat equity. Remember, no one ever drowned in their own sweat.

3. You must be willing to do whatever it takes to honor your word. As a Veteran Business Owner you understand that your word is everything. You understand that you must honor your word. As a business owner if you do not honor your word or do what you say you will do you will lose customers. You will not be in business. You must also ensure that your standards of excellence are continuous. If you run a lawn service make sure that each week you edge the sidewalks, trim the shrubs, pick up the trash and mow the lawn as outlined in your contract. Do not take shortcuts and skip one part of the service and think someone will not notice. Trust me. People do notice when you do not deliver or honor your word. McDonalds is international not because the hamburger is fabulous but because the product is consistent. You know what you are getting each time you go into a McDonalds. As a business owner you must be consistent and honor your word.

When you make the time to invest sweat equity into your business it will grow faster than if you spent your afternoon on the golf course. Business owners must be willing to invest in their business. Remember, no one ever drowned in their own sweat.

Jaynine Howard is a retired United States Marine and former psychotherapist. She is the owner of Dream Catcher Business & Life Coaching. Founded in 2006, Dream Catcher Business & Life Coaching helps business owners, nonprofits, and individuals nationally and internationally turn their dreams into wealth and success. Coach Jaynine and her team of associate coaches will help you jump start your business and life through business, career, and life coaching. Jaynine is a member of the Jacksonville-Onslow Chamber of Commerce, the Carteret Chamber of Commerce, the American Psychological Association, 24/7 Coaching, and Coachville. You can learn more about Coach Jaynine and her MYOB Fall Retreat by visiting http://myobworkshop.com/ or by calling 910-539-2810.

Successful business owners make time to attend conferences, tradeshows and retreats. New business owners will often hesitate to spend money on these events saying they cannot afford to attend. As a business coach, I will ask “How can you afford not to?” These events are key to your success.

Conferences are a great way to network with people in your industry. You will learn from those who have already blazed the trail for you. But even better, business owners who attend conferences learn about the latest trends in their industry. You will also learn about upcoming changes in your respective industry before the changes becomes public. Conferences keep you on top of your game. They are continuing education.

Tradeshows are where you will learn about the latest technology advances in your industry. You will see what your competitors are doing and what equipment they are using. Tradeshows will let you know what is out there so when your equipment dies you know exactly what you will purchase as a replacement. You will also be able to start budgeting for the new equipment purchase. Tradeshows are to business owners what toy stores are to children. Again, tradeshows are necessary for business growth.

Retreats are a time to step away from the day to day operations of running your business. Retreats are a time to focus on growing your business. You will have the opportunity to mastermind with likeminded individuals. You will be able to let your guard down and confide in other business owners and seek their input. You cannot do this when you are at work with your employees or board of advisors. This is an entirely different environment. It is safe. You will leave inspired and re-energized. When you attend a retreat you will be investing in growing your business.

Do NOT think that spending money to attend conferences, tradeshows, and retreats is frivolous. You are not spending money on attending these events; you are investing in you and your business. You must be willing to invest in your business. You must add to your annual budget money to attend conferences, tradeshows, and retreats.  If you are not willing to invest in your business then you need to change your mindset or go get a job. Business growth is dependent upon you investing your money and energy into keeping it viable and moving forward.

When you invest in attending conferences, tradeshows, and retreats you cut down the time and money wasted on using the trial and error approach to growing your business. Attending conferences, tradeshows, and retreats allows you to tap into brain power of the attendees. It allows you to see things in a fresh new light. You will learn about new resources, new trends, and changes in the laws. You will grow personally and professionally and your business will grow too.  Conferences, tradeshows, and retreats are necessary to grow your business.

Jaynine Howard is a retired United States Marine and former psychotherapist. She is the owner of Dream Catcher Business & Life Coaching. Founded in 2006, Dream Catcher Business & Life Coaching helps business owners, nonprofits, and individuals nationally and internationally turn their dreams into wealth and success. Coach Jaynine and her team of associate coaches will help you jump start your business and life through business, career, and life coaching. Jaynine is a member of the Jacksonville-Onslow Chamber of Commerce, the Carteret Chamber of Commerce, the American Psychological Association, 24/7 Coaching, and Coachville.  You can learn more about Coach Jaynine and her MYOB Fall Retreat by visiting http://myobworkshop.com/ or by calling 910-539-2810.

Retreat! Does the word remind you of an old black and white movie where the bad guys wearing black hats turn their horses around and retreats from battle? As a business owner the word “retreat” does not mean backing down from a fight or running away from a battle. When business owners hear the word “retreat” they should envision relaxing and getting away from their business. Then they can focus on building their business and taking it to the next level.

Seven Reasons for Business Owners to Retreat:

1. R – Relax and Refocus– it is a time to relax and refocus away from the office. When you leave the office you won’t see the piles of filing, work that is unfinished, or hear the telephone ringing. You will be able to focus on your growing your business in a relaxed setting.

2. E – Examine – examine what has been working and what has not been working. This is a time to self reflect. Think about what makes you happy about being a business owner. What things would you like to change? Do you want more vacation time? More time with family? When you examine the day to day operations of your business you will be able to see things clearly and how they are or are not working.

3. T – Track – track your return on investment for your advertising. Track the feedback provided by your customers and clients. Track your website statistics. Track your newsletter open rate and anything else you want to track. This is your retreat and time to focus on you and your business.

4. R – Re-examine – review your mission and vision statement and see if you are still on track. As your business grows you may find that you need to update your mission and vision statement. This is a great time to make the time to update your mission and vision statement.

5. E – Eye – new sources of income and profit centers. Working with other attendees you will be able to brainstorm new profit centers and ways to generate income for your business. Masterminding with other business owners is very powerful.

6. A – Action Plan – design your action plan for the New Year. During your retreat you will design your budget, online and offline marketing plan, plan your vacations and time off for the upcoming year, as well as design your daily calendar for success.

7. T – Transform – your business to the next level. You will lay the foundation for a great new year that will take your business to new heights.

Business owners when you make time to relax away from your office, examine what works, track your return on investment, re-examine your mission and vision statement, eye new profit centers, design your action plan so that you can transform your business to the next level. You will be prepared for the New Year and you will be positioned to earn more money.

Jaynine Howard is a retired United States Marine and former psychotherapist. She is the owner of Dream Catcher Business & Life Coaching. Founded in 2006, Dream Catcher Business & Life Coaching helps business owners, nonprofits, and individuals nationally and internationally turn their dreams into wealth and success. Coach Jaynine and her team of associate coaches will help you jump start your business and life through business, career, and life coaching. Jaynine is a member of the Jacksonville-Onslow Chamber of Commerce, the Carteret Chamber of Commerce, the American Psychological Association, 24/7 Coaching, and Coachville. You can learn more about Coach Jaynine and her MYOB Fall Retreat by visiting http://myobworkshop.com/ or by calling 910-539-2810.

New business owners often fail to price their product or service correctly. They either price it too high or too low.  If you price your product or service to high you will not have customers. If you price your product or service to low you may not make a profit. You may also not have customers because people will think you are not the authority or expert in your line of business. They will think you are new to the industry.

My three steps below will help business owners in determining the price for their services and products.

1. Competition – know what your competitors are charging. This means you must find out what people in your industry who have your level of training and years in business are charging. It is ok to know what someone who has been in business longer than you charges but you would not want to charge that amount if you do not have their expertise.

2. Costs to Produce – you must know all costs associated with delivering your product or service. This includes administrative costs, your time developing the product, and travel costs etc.

3. What if – what will happen if the person does not purchase your product or service? Will he or she spend money on a fine? If someone does not purchase your lawn service they may be fined by their home owners association. I want you to take a few minutes and think about why you make certain purchases such as using a dry cleaner, going to a bakery, grocery store, car repair shop, etc. The result of not purchasing that product or service may result in going hungry, looking unprofessional by wearing wrinkled clothing, a car that dies or maybe a fine for not having a current inspection or working lights etc. Business owners you must know the anticipated result if someone uses your product or service. You will then want to convey this is using a dollar value or percent.

When business owners employ my three pricing strategies above they will be able to determine the price to set for their products and services with confidence. Business owners will know the price is fair based on industry pricing standard, costs to produce, and the result of what will happen if the consumer does or does not purchase the product.

Jaynine Howard is a retired United States Marine and former psychotherapist. She is the owner of Dream Catcher Business & Life Coaching. Founded in 2006, Dream Catcher Business & Life Coaching helps business owners, nonprofits, and individuals nationally and internationally turn their dreams into wealth and success. Coach Jaynine and her team of associate coaches will help you jump start your business and life through business, career, and life coaching. Jaynine is a member of the Jacksonville-Onslow Chamber of Commerce, the Carteret Chamber of Commerce, the American Psychological Association, 24/7 Coaching, and Coachville.  You can download your free ecourse My 5 Secrets to Networking http://networkingdetox.com/.

Business owners are in the business to make a profit. As a business owner you must know how much it costs to produce your product or services. This cost includes your time, administrative costs, utilities, marketing and several other items.

New business owners often forget to add the hidden time zappers into their fee or price structure. They are also often accosted by others who want them to lower their price or fee. Seasoned business owners may forget to add the cost of inflation into their fees or prices.

Now, the consumer is buying your product or service based on how your product or service can solve their pain. You must understand the client or consumers pain point. What pain does your product or service solve?

The secret to getting paid for the value you provide or product value is that you must be able to convey in your marketing message the results he or she can expect when purchasing your product or service. Consumers are not interested in the benefits. They want to know the results i.e. will they have more time, more money, lose weight, less stress etc. You must know the results the consumer can expect to achieve when you using your product or service.

When approached by a prospective client it is ok to ask him or her what is his or her most pressing concern or the one thing that is driving them crazy. Maybe your product or service will prevent the person from facing a fine or penalty. I want you to think about the fee that a heart surgeon charges for a heart transplant. It is a higher fee than what you would pay to have a broken leg reset. The perceived value and the true value is that the heart transplant is saving a life. Whereas resetting a broken leg will ensure the leg heals correctly.

As a business owner you must relay the expected results and the value of your product or service in your marketing message so that your clients and customers understand the value of what you offer. When the client or customer understands the true value of the product or service and not just his or her perceived value of the product or service you will face less resistance and people will not ask you to lower your fees.

Jaynine Howard is a retired United States Marine and former psychotherapist. She is the owner of Dream Catcher Business & Life Coaching. Founded in 2006, Dream Catcher Business & Life Coaching helps business owners, nonprofits, and individuals nationally and internationally turn their dreams into wealth and success. Coach Jaynine and her team of associate coaches will help you jump start your business and life through business, career, and life coaching. Jaynine is a member of the Jacksonville-Onslow Chamber of Commerce, the Carteret Chamber of Commerce, the American Psychological Association, 24/7 Coaching, and Coachville.  You can download your free ecourse My 5 Secrets to Networking http://networkingdetox.com/.