- Q. I have an idea for a
great new baby product. I've done a preliminary patent search
at the University of Washington patent depository library, made
preliminary drawings, and am currently working on a prototype.
I've spoken with many moms who think my idea is clever and practical.
It is something I wouldn't be able to manufacture on my own.
I need to know when and if I need a patent and how I go about
finding a manufacturer. Then what's after that? I've read several
library books and am still unclear if the path I'm leaning toward
is the right one! Please help.
|
- A. Congratulations on coming up with a promising
new product. To find out if you're on the right path in patenting
your product, try The
U.S Patent and Trademark Office, which offers a wealth of resources
for fun and profit.
-
- Good Luck, Happy
New Year & Keep Goin' SOHO!
-
- JZ
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Q. Hi, I have a home-based
graphic design business. I work with other SOHO businesses in
creating graphics (like T-shirts and premiums designs) as
well as several newsletters, brochure designs, logo designs,
etc.
- The problem
is that I
live on an Air Force Base, and my office can not be visited by
off-base people very easily. Part of my customer service is that
I always meet my customers at THEIR location, which means that
I spend a great deal of time driving all over the place. This
is really starting to wear me out, as well as eat up all the
time I have to get my actual work done.
-
- Do you have
a solution? I thought about a drop-off box somewhere...but I
don't really know where. Some of my clients work with me after
their regular job, which means I need some way to get their work
"after-hours." Any solutions?
-
- Thanks,
- Tammy S.
(Tammy's Typesetting and Graphics)
|
- A. Tammy,
-
- Interesting
dilemma, and one that I'm sure is not unique to people who live
or work on military bases. Here's a few possible solutions:
- Arrange to meet
off peak hours at a local hotel or restaurant, an executive suite
center (call the Executive Suite Association in Columbus, Ohio,
800-237-4741 to get a list) or other location to make it convenient
for both of you. If you time it right, the hotel or restaurant
will be quiet enough for you to work. If you choose to go the
executive suite route, you'll have to pay for use (usually available
on an hourly, daily, weekly or monthly rate).
- Meet at the
office of a friend - some place that's central to both of you.
It will give a professional feeling that will enable you to get
business done.
- Tap services
like HotOffice
Technologies
or Same-Page to share content and
collaborate online.
- If you want
to go the high-tech route (and within a few short years, we'll
all be going this route), get hooked up with video conferencing
software on your PC. Of course, this requires your client to
make a similar investment (often less than $150 - and a high-speed
Internet connection).
- Good luck with
your endeavor, and as always, Keep Goin' SOHO!
-
- JZ
|
- Q..Do you know if there
are any database software packages out there that will list,
keep track of your ideas, allow you to say "what if,"
and also will combine your ideas to come up with a totally new
idea? Also I need a package that allows you to see if a particular
idea or business venture is feasible and will be profitable or
not by allowing you to just plug in the numbers. I am looking
for some general indicator. I know nothing could be 100% accurate,
but before I invest any money I'd like to know somewhat what
kind of financial risk I'm taking. Any ideas?
|
- A. I don't know of any software that does
exactly what you're seeking, but there is something better: mentors,
mastermind or brainstorming groups.
-
- Since small-business
owners wear many hats to grow their businesses, they must seek
guidance, education, inspiration and business leads from a variety
of sources. Mentors are current or former executives, trainers
or coaches skilled in the areas you seek. From local symposiums
or workshops, to networking and business card exchanges, the
local chamber of commerce, or even recurring meetings among a
select group of peers, or a MasterMind group, ideas get bounced
around.
-
- The need to
learn and experience new ideas is especially keen for small businesses
that don't have corporate dwellers to mingle and share ideas
with, says Bernard Pelavin, a manager with SCORE, the Service
Corps of Retired Executives. Entrepreneurs may read business
magazines or browse
Web sites for ideas, but attending seminars or networking groups
can help foster ideas and new thinking that the person likely
won't discover alone, he said.
-
- "When you're
an entrepreneur, you have to be ahead of the pack, and networking
or meeting with other entrepreneurs is a great way to go,"
said Pelavin, whose organization often hosts or presents at free
or inexpensive small business seminars. "With so many people
working on their own, it's more important than ever."
-
- Maybe hit some
of the educational options available. State
University Extension Service and Small Business Development centers
offer recurring programs on small business. The Small Business
Development Center at Florida Atlantic University hosts seminars
and workshops almost daily, said Teri Takahashi, program coordinator
with the organization. And a
variety of companies hold frequent for-fee seminars on business
or organizational skills.
-
- If you want
to build a powerful brainstorming or mastermind group to help
you share ideas in a creative and confidential environment, follow
these tips:
- Find up to a
half-dozen peers in non-competing fields whom you believe are
creative, thoughtful and inspiring. Keep it small; large groups
can lose focus and intimacy.
- Try to establish
a regular day and time each month to hold the meeting. If the
meetings become too infrequent, their importance and success
may be lost. The location can vary to stimulate creativity.
- Be prepared.
Since members each get time to discuss their issues, bring a
list of topics you need to cover. Maybe include creativity games
to foster thought.
- Act. Once you
leave, put your new ideas into action. Then report on your success
the next time the group meets.
- Keep Goin' SOHO!
- JZ
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|
Q. Hello. I'm contemplating starting a small writing
business in my suburban New Jersey town called "Gotta Write
That Letter," and need advice regarding pricing for my services.
The idea would be to write letters, business memos, child-care
provider contracts, etc. for those non-writers who freeze before
a blank page.
- I know of a
woman in New York who had a similar business, charging anywhere
from $100 to $500 for a simple letter. Somehow, I don't think
that'll fly here in the 'burbs. Yet, I don't want to undervalue
my services either.
-
- Any guidance
on pricing
(per page? per hour?) would be most appreciated!
|
- A. As you well know, contracts and business
correspondence are important to any enterprise. They help present
an organization in a professional, intelligent light, and when
done well, reflect favorably on the writer. Therefore, the value
you bring to the table with your services will determine how
much you should charge.
-
- That said, here's
a few guidelines to follow:
- Market conditions. What are others in your
market getting for business letters, memos, child-care provider
and other contracts, etc.? Writer's Market recommends the $100
to $500 a letter range. But consider your market. A professional
writer in a competitive market like New York City dealing with
large clients might be able to approach the $500 rate. Someone
in the 'burbs might not top $100. That leaves the 'tweens. I
work in South Florida, and typically charge between $125 and
$175 a double-spaced page, depending on the complexity of the
project, the research involved, or the number of client meetings
or discussions required. Sometimes more, rarely less.
- Your experience. If you have the credentials,
the clips and are confident you can deliver a hard-hitting letter
that will drive home your clients' points, then shoot higher
and stand by your quotes. There's no better feeling than when
a client has to pause to consider your quote, then agrees (as
opposed to having a client say OK the moment a low-bid leaves
your lips. Then you know you could've gotten more). Just be reasonable
in your expectations.
- Your clients. A start-up, home-based
day care provider can't afford to pay what an established center
in a retail mall location can. To some extent, bill accordingly.
As that smaller client grows, your billings can grow with them.
- Don't work
by the hour.
If you're good, you'll find you are capable of knocking out good
letters quickly, and you'll end up getting a fraction of the
above-mentioned per-letter rates. Also, charging by the hour
invites clients' questions about how long it really took
you to write something. I never, repeat NEVER charge by
the hour.
Remember the value you bring to the equation. Like
you said, many non-writers freeze when faced with a blank screen
or page. To them, writing might as well be rocket science. You
are the rocket scientist. Billings are more a reflection of your
experience and quality, as well as the value (perceived and real)
that you bring to the client. Be professional. Be fair. Strive
to get what you believe you're due.
-
- Good luck in
your new enterprise.
- JZ
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|
Q. Hello -- I think I signed
up with EP a few weeks ago, and
I've had a few ideas but I've yet to come up with a business.
Well, one idea entertains
me but I'm not sure if it will lead to profits. (Is that pretty
common for people?)
- We bought a
small acreage a year ago and I recently finished refurbishing
the chicken coop and bought 20 broilers to raise for our own
butchering, plus I'm getting hens this week for eggs. I began
to think, well, maybe I could raise more to sell! but I really
don't know who would
buy them. The lady at the hatchery wasn't very supportive, I've
neverraised chickens before and I guess she thought I was ignorant.
My husband and I are also working on fencing an area to raise
a few sheep for pleasure, but maybe that could be more too.
-
- I guess I'm
afraid of LOSING MONEY as we can't spare a dime to lose. I'm
apprehensive because I've heard most small businesses fail within
a year.
-
- How do you find
your target market? We live 9 miles from the hometown (pop. 2000)
and 20 miles from the metro area (pop. 50,000). Any suggestions
would be appreciated.
-
- Thank you for
your time,
Kathie
Cunningham
|
A. Kathie,
- As a suburban
boy who summered in what once was Denver's rural outpost called
Parker (it's now part of a sprawling suburban mecca itself),
I know little about chickens and eggs (except how I like them
cooked). But marketing is marketing, and it's the same - relatively
speaking - for fowl as it is for automobiles. Define your product,
find your market, create your message, and get it out there.
-
- That said, let's
look at your situation. (For those of you who write articles,
build kids' furniture, paint bedrooms, or provide any other product
or services, keep reading. Replace "chickens and eggs"
with your widget, and get your mind flowing...) You live in a
rural area, are hoping to raise broilers and eggs for yourself
and for sale. Know that this will not be easy. People usually
find food staples like these early on when they move to a community,
and they're hard pressed to change providers. You have to MAKE
them want to change.
-
- REALITY CHECK:
The first 18 months are the hardest. If you're looking to NOT
lose any money, you might have a difficult time of it. For any
enterprise, the honeymoon period lies within the first two years.
You're getting your feet week coming to understand your product,
your market and how the two fit (if at all). Expect to dig into
savings somewhat to make this bird fly, so to speak.
-
- 1. What is your
product? The short answer is fowl. Chicken and eggs. The easy
answer would be to market it to locals as their source for "The
best broilers this side of XX." You need to define your
unique selling proposition (USP), that is, what sets you apart
from the competition, and capitalize on it. It could be that,
unlike many large companies that sell poultry and dairy products,
you and your husband (kids, too?) are not faceless corporate
entities. Capitalize on this. Create a logo with a drawing or
charicature of your family, and use the tagline, "Our eggs
have a face on them", or something to that effect, which
ties your family to your product. But we're getting ahead of
ourselves.
-
- 2. Who is your
audience? Coming so late onto the scene, I'm certain your neighbors
already have their resources for chicken products. That's not
to say you can't endear yourself to them and make them want to
buy from you. We often buy from specific companies because we
like the people, not necessarily because their products are better
or cheaper. Get to know the
local grocer.
-
- 3. Using that
USP, Create your message and market what you do. Come up with
a cute name for the company. Create signs, T-shirts and car decals
emblazoned with it. Next Easter, hold the "Clucker's Chicken
Ranch" (insert the name you create) Easter Egg Hunt. Have
egg dyeing contests, invite the county kids. Serve food and drink.
Get your PR machine rolling by sending out pictures of the hens
hard at work pumping out the eggs for the little ones to enjoy.
Can you write a press release? You'd better learn how, or expect
to pay or barter for the service. Ditto with "pitching"
your product to the local or regional media.
-
- What all this
boils down to is marketing and positioning yourself and your
business for success. Learn to marketing your company, and success
could beyours.
-
- Keep Goin' SOHO!
- JZ
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|
Q. I am an insurance agent turned financial
planner. After much market research, I have concluded that most
of the median income earners have no money or are pretty unwilling
to pay for a financial planning service. They are currently 80%
of my client base. I need to approach the affluent market (eg.
business
owners, top executives, etc.), but I don't know how & where
to find them. My 20% affluent clients are not forthcoming in
referring me to their peers & associates.
- What kind of
low-cost marketing tactics can I apply to reach them effectively?
I will also need to follow up on them to ensure a better hit-rate.
Do I call them on the phone? How do I get past the secretary?
-
- Right now I
don't charge a fee for the planning work but I get paid if they
buy a product through me. And at the moment it is just insurance
based products (possibly with investments, like mutual funds
as well in the near future). How can I market my service to this
affluent niche market effectively? Would you recommend that I
hire someone to do administration and marketing while I concentrate
on prospecting and presentations?
|
- A. Prospecting among an affluent market
is a difficult task, for a number of reasons. While they all
may realize they need your services, many are reluctant to open
their doors. But here's a couple of ways to get in:
- Before you make
your first move, be prepared. Create an attractive and professional
brochure (the more professional it looks, the more professional
you'll appear). Be prepared to direct mail and hand it out with
reckless abandon. Also have a couple of references lined up.
Affluents gain confidence hearing references from others in their
set. Maybe get a Rolodex card printed -- with "Financial
Services" or your company name on
the raised tab. True, many affluents are heading away from paper
and going for personal digital assistants. But that's not happened
yet.
- Consider getting
a Web site so people can go online and see what you're all about.
It doesn't have to be expensive, and prices are dropping for
everything from creation to hosting. You're likely to find a
Web master who works from home and has low overhead.
- Get yourself
invited to an affluent friend's Holiday party (or other party).
Don't go there with a stack of business cards to hand out; your
friend may get upset if you aggressively prospect at their friendly
get together). Instead, just network. Work the room. Break down
barriers and build bridges. One of two things will happen. You'll
either be asked for a b-card, which in that instance is OK to
hand out. Or you'll get someone's name, and then ask your friend
for their telephone number (or do a little
searching yourself in the phone book or Internet, so not as to
put your friend in an awkward situation).
- Attend or join
a networking group. These groups gather to pass along referrals.
They often allow only one person from a given industry, so you
might have to scout around for a group with a vacancy. Alternatively,
read the Monday business section of your local paper and find
out where and when meetings are being held among a potential
client base (networking groups, professionals and executives,
etc.) Just make sure they welcome guests.
- You mentioned
follow-up. This is a MUST. Without follow-up, your efforts are
worthless. Call on people to see if they received your information,
if they have any questions, if you can schedule a meeting or
send them anything more. Don't be too aggressive. Just let them
know you're there. If they turn you down, leave the door open;
tell them you'll call them down the road, in case their needs
change.
- As for hiring
an administrative assistant...Get the work before you pay any
additional costs, like salaries or an ad agency. As a solo flyer,
you need to build your business with your two hands. That may
mean waking early to prepare for the day, spending the day prospecting,
and spending the evening doing paperwork.
-
- Certainly, it's
a good idea to outsource those things that someone else can do
better and more cheaply. Marketing may be such a task. In fact,
find a home-based marketer who might be willing to barter services.
You can do the same with a home-based secretarial or administrative
service. Once your business grows, then consider hiring these
people as needed. Just be wary early on of taking on too much
overhead.
-
- Good luck, and
Keep Goin'
SOHO!
JZ
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