Talking to Clients

Either is a "cold call" or a face-to-face meeting it's very important talk effectively with clients. Today this process becomes more challenging as we are bombarded with information from all the sources available. Therefore, the attention spam you get is short. In my experience consider these:

1. Talk with simple words. Avoid technical jargon. 

2. Focus on the message you want to deliver. Don't over talk.

3. Be yourself. If you get comfortable talking, the other part will be as well.

4. Be polite. Respect is everything when it comes to human interaction.

5. Use examples to explain what you are saying. Keep them simple as a six-year-old would understand.

6. Don't be shy asking questions or encourage them.

7. Listen when your client is talking. Make sure you understand.

Increase Your Creativity

In a world that we feel everything has been invented, creativity is important to generate innovation in your business. It is not necessary to develop the next new thing, but creativity is required on approaching to your customer

s, delivering your product or service, or even solving a problem. There are several ways to enhance your inner genius to become more creative. Like physical exercise you need to work it out. Here are some tips to do it:

1. Think like a child.
2. Encourage your inner artist.
3. Explore the unconventional.
4. Practice a lot.

Read more: http://health.usnews.com/health-news/family-health/living-well/articles/2010/12/02/4-ways-to-unleash-your-creative-genius

An Effective Business Plan

As mentioned in past postings, writing a business plan results essential when starting or reshaping your venture. It should be clear and simple enough, so anyone from your investors, employees and yourself would easily follow. In my experience there are five essential elements you must include:

1. Define your product or service on simple words.
2. Identify your customers - explain why they will buy or acquire it.
3. Explain how you will make money - define your business model.
4. Explain how you will reach your customers - describe your marketing strategy.
5. Insert the best and worst expected financial scenarios you can calculate - get help on this one if you can.

Making Great Decisions

As an entrepreneur mistakes are unavoidable. But mistakes should allow you to become a better decision maker. Richard Branson, the ultimate entrepreneur, provides us with some important tips to make Great Decisions:

1. Trust your instincts.

2. Focus on your customers, not your critics.
3. Always support your team.
4. Know when to say goodbye.

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Human Factors to Avoid in Business

In business like in life none has the future guaranteed. No matter how successful your business gets you need to keep it on its toes. There are three human factors that you shall avoid when doing business:

1. Arrogance
2. Pride
3. Getting cocky

The case of Research in Motion (BlackBerry) is the clearest example of this. From becoming the fastest growing smartphone manufacturer to the fastest slumping one. The CEOs killed its success believing none couldn't take them from their perch. Until real genius and technology innovator Steve Jobs unveiled the iPhone to the world.

"RIM was losing its grip on the enterprise and consumer markets, but the company's management was still in denial. In the fall of 2010, Balsillie and Lazaridis called the sales team in to discuss RIM's roadmap, including plans to launch an iPad competitor, the PlayBook. "Mike came in to that sales meeting about as arrogant as you could be," says a former RIM executive. "The feeling at that time was that we were substantially behind Apple in the smartphone category. But he had no doubt that we would succeed given the products we had coming." The Playbook was a disastrous flop." 

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The Right Business Partner

Choosing right partners for a business venture is extremely difficult. I had many partners on past businesses with mixed results and some simply to forget. Partnerships can be very frustrating and can result immensely expensive. I have now several rules that I apply on the process to partner on business:

1. Addition. Your partners must add value to your venture. Either provide resources 

you don't have or expertise. Partners should have complementary skills. Be good on areas you aren't and you can't hire.

2. Values. You can have partners from different backgrounds. But they must have similar values than you. A greedy person will always be thinking on taking you out at the first opportunity. Someone that doesn't value his friends or family won't value the business partnership. Find someone with your same moral compass.

3. Vision. If you are thinking short term or long term find partners that have the same vision for the business than you. Having two different visions in the same project always leads to failure.

4. Expectations. Set the right and same expectations for the business with your partners before even before consider this option. Nothing worst that expecting different results from the same thing.

5. Time. Take your time and study every single angle of your future partnership. Consider hiring as a first option. Partner exclusively if you can't do it or grow without them. Try to think in the best and worst scenarios of this. Put everything on a contract, including and most importantly, the terms to finish the relationship.

Starting Your Own Business

Picking up a business to start is a real challenge. I have failed numerous times doing so. I always recommend starting on your own before partnering. Here are some important things to consider when starting your business from scratch:

1. Develop something you enjoy doing. Better if you feel passionate about it.

2. Find the ways to earn money with it. Do a simple business plan.

3. Start from home and with the basic but good tools. Don't over spend.

4. Pick up a name that is catchy and reflects what you do. Ask for feedback.

5. Buy its domain and incorporate your business. Study types of incorporation.

6. Create its identity with a web site and social media. Don't forget business cards.

7. Do a realistic sales plan with the lowest of expectations. Profits will take time.

8. Execute your plan and adjust it as goes. Things never happen as planned.

9. Get a good business advisor, an accountant, and a lawyer. Listen to them.

10. Be open for everyone's opinions but trust your guts. Be firm but not stubborn.

The Art Of Selling

Any entrepreneur must learn to sell. Without having the ability to sell, your success chances are low. I used to hate selling because I didn't know how to do it. The Art of Selling is something you can learn and eventually master. Like any sport takes time and lots of practice. 

Here are some critical elements you need to consider when selling that work for me:

1. Find what is unique on your product or service and talk about it. This will be your value proposition.

2. Find what disadvantages your product or service has and be prepared to respond.

3. When talking to potential clients don't hesitate when pitching. Be passionate about it.

4. Follow your meetings with emails or by phone whatever you judge is less annoying for your target.

5. Always make sure on the reception of quotes or any other important documents.

6. Look for face-to-face meetings as much as you can. Lunch, dinner, golf applies.

7. Know your targets and identify their hidden worries. Human perspective is extremely important to close a deal.

8. Be strong but always keep courtesy and good humor.

9. We all have the NO guaranteed. So don't fear rejection. Walk in as if they were already your customers.

10. Remember to find the right timing and keep the momentum as much as you can. These two can be your best or worst friends on trying to close the deal.

Working From Home

As entrepreneur, I've been working from home more time than in a regular office over 15 years now. Today is more common to do it and modern communications make it easier than never. Things that allow me to this effectively are the following:

1. Designate a working space. From a desk to a complete room that can be and feel as "your office". Invest on a filing cabinet, a good size desk and a co

mfortable chair.

2. Discipline. You need to assign yourself a schedule. The advantage of working from home is the ability to combine personal and professional activities that can't be done working from a regular office. However you need to keep it separate on an standard routine.

3. Tools. Invest on a good laptop or tablet that supports communication technologies such as video conferencing (Skype), roaming (USB card) and compatible with your smartphone so you can keep your working schedule and to-do-lists on multiple devices. Also invest on a good data plan for your phone and Internet wireless service from your cable supplier.

4. Enjoy it. I am always dressed on comfy clothes, sometimes check my stuff laying on my bed or at my terrace. On "coffee breaks" I do personal stuff from laundry to go out to run home errands. I have my kitchen available for my favorite coffee or snacks. When my kids arrive home, I assign a complete "hour meeting" to ask them how was school and make sure they will do their homework while I finish my day "at work".

Entrepreneur Personality

An entrepreneur usually have number of personality traits. Ben Yoskovitz at Startup Spark gives 10 ways to know if you’re an entrepreneur. It doesn’t mean you have to meet every items on the list, but they definitely give you some head start or edges from other entrepreneur:

1. You’re passionate.
2. You’re always looking for opportunities.
3. You always think to yourself, “I can do that better.”

4. You want to live your work.
5. You’re dreaming miles ahead while focused on what you’re doing right now.
6. You’re an ego-maniac.
7. You’re prepared to say, “I don’t know, but I’ll figure it out.”
8. You’re a strategist.
9. You’re a builder.
10. You want control.

PASSION is the most important aspect. If you are passionate on the stuff you create, the higher chances you will live your work, and always look for improvements and opportunities to extend your passion.