It’s so interesting how people procrastinate. We received almost as many marketing tip submissions the day after the deadline as we did the whole 3 weeks prior…why do people wait? If you want to change your results you must change your actions. Check out this video to see if you still have a chance to get your submission in.

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Here are 2 of the latest marketing tip submissions from our contest. You can get more tips, or enter your own for the chance to be published in our upcoming book ‘Small Business Marketing on a Milk Money Budget’ 365 Powerful, Cutting-Edge—and Affordable—Marketing Tactics
Every Small Business Owner Needs to Know. Watch this video and find out!

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Enter this contest for a chance to be published in the upcoming book ‘Small Business Marketing on a Milk Money Budget’. And be eligible to win other prizes, like a social media makeover or your very own podcast!

The answer is YES, it is possible.  IF…you follow this principle delivered by  John Assaraf, best-selling author of ‘The Answer; Grow Any Business, Acheive Financial Freedom, and Live an Extraordinary Life’ Norbit full .

Based on the principles of Pareto’s Law

or the 80/20 rule, John explains that in order to grow your revenues and profits you CANNOT allocate the same amount of time to all of your business activities.

“Suppose your business has 50 different activities, such as sales, marketing, operations, finance, research, customer service and so on. According to the Pareto Principle, 20 percent of those activities will generate 80 percent of your revenues. Conversely, 80 percent of those activities will generate only 20 percent of your revenues. Doing the math shows that 10 out of the 50 activities will produce four-fifths of all the income your business generates.

Now, assume that your business takes in $100,000 a month. According to the Pareto Principle, 10 of your 50 activities would account for $80,000 of your monthly revenue, which works out to $8,000 per activity. Conversely, 40 of the activities would produce only $20,000 each month, which pencils out to a paltry $500 per activity. Sixteen times 500 equals 8,000, so your top 10 revenue-producing activities are 16 times more effective than the bottom 40.

Suppose you took it even further and moved the 80/20 ratio to 90/10, so that only 10 percent of your activities produced 90 percent of your revenues. That would make you 81 times more effective than you currently are. Merely by focusing your time and attention on the five or ten activities that have the highest impact on your business, you can increase your revenues and income by 16 to 81 times!

If you like what you just read, download the audio ‘The Power of 16x’ Duets full

, and you can also email me for an accompanying activity worksheet so you can start implementing this strategy and growing your revenues by 16 times right now!!  spencer@worksmartla.com

You’ve heard the saying, ‘treat something like a hobby, it will pay you like a hobby’. If networking is going to be one of your strategies to growing your business - treat it like a strategy!  Don’t be an amatuer…

BNI founder and chairman, Dr. Ivan Misner, leads the world’s largest referral organization for business owners, and professionals.  It’s sole purpose is the referral network strategy.

The key to networking? You MUST set obtainable goals and objectives.  Often times, people attending a networking event will set the objective of ‘what time am I going to leave…’  Well, your results will reflect that - so make a change!  Be specific, put some measurable numbers to it…how many events will I attend per week, how many people am I going to meet, what type of contacts am I looking for.

In a recent interview with Dr. Ivan Misner, he reveals the top 10 traits of a master networker;

10.  Dedicated to working in their network; be an expert and effectively work your network.

9.  Sincerity; be completely sincere and connected with the people in your network.

8.  Helpfulness; enact ‘givers gain’ or ‘the law of reciprocity, be willing to give before you receive.

7.

Gratitude;

be in integrity and full gratitude at all times.

Continue reading →

Just this past Wednesday, as many Angelenos were heading home after a long days work, a select group of smart-minded LA small business owners gathered for the monthly O.N.E. (OneCoach Networking Event), which was once again held at the inspiring entrepreneurial work space of BLANKSPACES, designed and owned by Jerome Chang.
Continue reading →

Imagine this; you are deep in thought, tackling an important project, you are in the zone - then…’ding’…the echoing sound of your email inbox, that’s right, you’ve got mail.  Your thought process screeches to a hault, your mind shifts, you think ‘nah, I’ll check it later’, but what if it’s important?  What if it is crucial information?  Or, what if it’s an amazing discount offer from your favorite online retailer…?  Doesn’t matter, you’ve now lost focus on the task at hand and reach for the mouse.  How many times does this occur throughout your day?  I bet it happens often enough, that if you added up all of the diversion of time wasted you could calculate that into money lost.

Test: Take an egg timer and set it for 1 hour.  If you can go a whole hour without checking your email, you’re fine.  If you start having a nervous breakdown and can’t go just 1 hour without checking that precious inbox, you’ve got problems.

I recently listened to a great interview John Assaraf

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did with ‘The Productivity Pro’, Laura Stack, in which she states you should check your email no more than 4 times a day.  “Checking your inbox any more than that is just a fancy way to procrastinate”, says Stack.  She continues to add that most people use their email as a ‘to do’ list causing them to alter their focus and thought patterns which results in a high level of inefficiency in the workplace.

Follow Laura Stack’s 6 D’s just 4 times a day so you can maintain focus, maximize productivity, and increase your bank account!

1. Discard / Delete;  You can quickly decide whether a message is junk, spam, information that does not need to be kept.
2. Delegate it;  Give it to someone to handle, a partner, staff member, or employer - then move it to a personal folder in your email application.
3. Do it; Ask yourself ‘can I reply right this second?’  get it off your plate and be done with it - then delete it.
4. Date it; Can’t reply right now? don’t just leave it in your inbox!  Convert it to a ‘to do’ or ‘task’ in the email application and then move it to a folder.
5. Drawer; This email doesn’t require any action, but needs to be saved - simply move it into a folder in your email application.
6. Deter; Why do I keep getting this? Unsubscribe, block, set up a rule to automatically move it into a folder.

These simple steps will save you time, money and most importantly - your sanity.  Remember, the way you do anything is the way you do everything.  You must change your actions if you want to change your results.  If you would like a copy of this interview for detail on the 6 D’s and even more ‘Productivity Pro’ tips, send me an email; spencer@worksmartla.com micardis

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That was the overall theme last weekend at the Mind, Marketing and Millions small business conference in Marina Del Rey, hosted by OneCoach International - in uncovering the 3 essential ways to grow any business and triple revenues;

1. Generate more profits per sale

2. Generate more sales per customer

3. Attract more clients

It’s that simple. Really. download - 3 ways to grow your business

The challenge most small business owners face, is that they don’t know what they don’t know - so they end up focusing on just one of these ways…can you guess which one?  Yep, attracting more clients.  Which turns out to be the most expensive way to grow a business.

This past weekend, while a majority of Angelinos were spending their time working IN their business - some 200+ LA small business owners filled the Marriott in Marina Del Rey to spend time working ON their business and tripling their revenues.

For Conference Breakdown: Continue reading →

When times get tougher and cash flow gets smaller, consumers get more creative. Especially those consumers with luxurious appetites. One niche that seems to be flourishing during these leaner times are the thrift, resale and vintage shops.

Designer consignment stores such as The Way We Wore, who boasts such labels as YSL and Halston, has seen a 22% increase in sales over last year while Decadestwo Van Nuys Blvd. dvd , who carriesonly the creme de la creme of vintage designers reports sales are up 45% from last summer. These stores are not only seeing more shoppers coming in, but also more consignors looking to sell off last year’s Louboutin’s. Both parties win, the stores get an influx of new pieces to keep all their new customers engaged and the sellers get nice little return on their expensive investments.

This boost on sales isn’t limited to the designer resalers however, according to Los Angeles Times staff writer, Emili Vesiland. In her article Secondhand clothes, with sales rising, are the new scaled-back chic

, “The great purge in L.A.’s closets has also translated into healthy sales at charitable thrift stores, including the Salvation Army and Goodwill, as well as secondhand outposts such as the Buffalo Exchange in Highland Park and Santa Monica…Sales at the Salvation Army stores in Santa Monica are up 7%-12% from the previous year.”

So…please don’t tell me NO ONE is making money right now. I know it seems tough, but if we just get a little creative, we might find there is opportunity right under our noses…or at least in our closets!

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For the first time in its 26 year history, the 99 Cents Only Stores will be raising their prices to offset the rise of household items, foods and other goods.

To raise or not to raise, that is always the question. Well, if your not making enough to cover your costs, you must raise your prices (or lower your costs) in order to make a profit. But what if you just feel like you are worth more?

If you feel that you are worth more than you probably are. If you know that your product or service brings your customers incredible value, quality, ease, relief, hope and/or benefit, then consider separating yourself away from the competition and raising your prices.

Raise prices during an economic downturn you say? Well, if you are competing on price right now then you are facing a difficult battle. You can never win when you are competing on price alone. Your value and your service are your competitive edge so if you want to attract the clientele that can pay for what your worth AND you can deliver on that promise, then a price increase may be an option to think about when looking for ways to increase your revenues.

If you are STILL unsure though, complete the following exercise from Dr. John DeMartini, world leading behavioral expert, speaker and author:

1. Calculate how much you would like to raise your prices
2. Write down 100 benefits to your customers that would result from this raise
3. Write down 100 reasons why NOT raising your prices would be detrimental to your business and customers
4. Give yourself a raise!