Friday, March 27, 2015

What type of business leader are you?

There are four main types of leaders. I compiled a lot of information on each type. See if you identify with any of the personality types below to discover what type of leader you are.
1. Do you love to help employees develop their long-term goals and also have them coincide with company growth? Do you love to mentor employees but find you spend to much time on people who don't want to be coached? If so, you're a coach leader. The key is to surround yourself with other people who love to motivate and be motivated.

2. Do you give your employees a lot of freedom? Are your employees very loyal to you as a result of this freedom? Do you sometimes find yourself dishing out praise even when it really isn't deserved? If so, you're a team builder! Surround yourself with people who are tougher than you have no problem dishing out the truth when needed.

3. Does everything and everyone have to be perfect? Do your employees really meet your high-standards? Do you love to micro-manage? If so, you're a general! It might be hard, but try to listen to the ideas more. You might hear a great one!

4. Do you focus on the big picture? Are you results driven? Do you love to show others how smart you are? If so, you're a visionary. Try not to explain to people what your vision is. Instead, have them help you get to your vision!

Have a great weekend! I'll blog more on Monday.

Twyla N. Garrett

Thursday, March 26, 2015

IME's Photos

Today we launched the photo album portion of IME's website, I will updated it often with photos of our team at events and my speaking appearances. I've teased some photos below, but click the link above to view all the photos so far.


Wednesday, March 25, 2015

Testing Business Ideas

I recently received a request to write about testing business ideas. While we can prepare for and plan our businesses around concepts and data, there is no real way to test if we're going to be successful or not.
There are some ways to double check if you are or are not on the right path when it comes to business. Here are my top three tips to see if you are on the right path to projected success;

#1. Focus on goals, don't just have them.

I know many people who write goals down. They have a goal for every part of their life. What they're missing is a plan. You need to have a goal followed by a plan and work at it daily.

#2. Be reasonable with your time frames. Don't plan to be a millionaire at the end of two years. If only life were this easy. Make sure you have a realistic timeline to compliment your goals and your plans.

#3. Make profit your number one goal. Don't think about expansion, second offices, etc. until you actually have a solid profit coming in. You can't just think big, you have to grow a profit to get big.

I hope this week's tips and topics have helped you developed your business plans. Please let me know if you have any questions.

Until Tomorrow,

Twyla N. Garrett

Tuesday, March 24, 2015

I'm speaking at The United Nations on 03/25/15

Yes, I'm back and speaking at The United Nations tomorrow! I'm on Panel Two at 11:40 am - 12:30 pm.

“Women and Social Innovation: Disrupting Global Entrepreneurship”
Lead Disruptor
Julie Anixter, Chief Learning Officer, Relevents, Innovation Excellence
Craig Hatkoff, Co-Founder, Tribeca Disruptive Innovation Awards (TDIA) & Tribeca Film Festival
Denise Evans, VP Market Development, IBM
Jeanne Sullivan, StarVest Partners, ASTIA, Harvard Kennedy School, ePROVSTUDIO
Jeff Hoffman, Global Entrepreneur & Speaker, GEW, GIST, ColorJar, Priceline
Brandon Frank, Intellectual Property and International Trade Counsel
Craig Hatkoff, Co-Founder, Tribeca Disruptive Innovation Awards (TDIA) & Tribeca Film Festival
Dr. Twyla Garrett, CEO and Founder, Investment Management Enterprise
Rabbi Irwin Kula, President, CLAL, The National Jewish Center for Learning and Leadership

More here:

Helene Vece for Twyla Garrett of IME.

Thursday, March 19, 2015

Out Think Your Competition

People always want to know what the secret to success is. I often get asked how to beat one's competition. It is simple. Have a great product. Products and services that are loved by consumers will sell themselves. That is why you always hear of these bootstrap businesses that started with nothing and made it to multi-million dollar sales status.
Here are my top steps to beat your competition.

First, don't buy into a competitor who is stealing your thunder. Maybe you did have the first idea on a specific service. Months after launching you then notice a new company pops up and is copying your idea. Don't freak out. In fact, don't even worry about your competition. Getting caught up in what the other company is doing, even with your idea, will distract you from moving forward.

Next, stand besides your product or services. Don't discount to meet a competitor's pricing. If you stand by the quality of your products or services, customers will remain or still buy. Why? People prefer quality over a discounted price. Even in this economy women are still buying $20 lipsticks from Macy's. Quality and reputation do mean something to consumers.

Last, love what you do. Some people start businesses to make money, not create a lifestyle or career. Your competition probably is in it for the money. You stay in it because you love what you offer. If you remain passionate, people will pick-up on your enthusiasm. This passion will drive sales, increase customers and allow you to be admired as a leader in the business community!

Have you ever had a business idea stolen by a competitor? Let's talk.

Twyla N. Garrett

Wednesday, March 18, 2015

Three Ways to Save Money Your First Year In BUSINESS!

People ask me all the time what the secret to success is or how to start a business. What they fail to ask me is how to save money the first year of business, which is very important. So, this said, below are three ways to save money your first year in business.

1. Don't have offices if at all possible. I mean cubical farms or inner-offices where people can close doors on one another. You should promote and open work space where everyone can look at, talk to and see what others are doing. This promotes less slacking off for your employees and also generates better communication skills and sales results.

2. Don't buy t-shirts and other branded items for customers or employees to wear or use outside the office. This is a huge waste of money. Make sure you are spending as little money as needed on things that are not actually needed. In other words, don't buy into the hype of owning a business. Know what you can and can't spend.

3. Don't listen to your customers. If you know what you have will sell, and it isn't selling, change your marketing strategy- not the product / services based on the opinions of those who aren't buying. Change your marketing, change your market, but don't change your entire product or services. You will find your customers, you just have to stay consistent with your branding.

Running a business is going to be one of the hardest, yet most rewarding, things you can do. Make sure you stay focused, on budget and strong.

Until tomorrow,

Twyla Garrett

Tuesday, March 17, 2015

Marketing for March

Are you in the middle of a marketing slump? Summer tends to be a slow time for marketing and public relations efforts. This is why I tell all my business owner friends to re-evaluate marketing strategies during the summer. It is a slow time and there is plenty of space to review, plan and strategize.
Facebook and social media marketing efforts during this time are easy to A/B split test. You can review what times of day and what types of posts actually work and don’t work. You can also see what posts work on certain social media mediums vs. what doesn’t work.

Reviewing customer research is important during this time, too. When you launch your company, reviewing and studying your customers seems to be pretty important. Once customers start to roll in, revisiting your customer demographic, their buying trends, etc. seems to fall by the wayside. Don’t let this happen!

If there are two things to take away this weekend, understanding your social media efforts and who your customers are is essential and should be the main thing to revisit when it comes to marketing.

Until tomorrow,

Twyla Garrett

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