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

Illegal Immigration Is Up.....

A report recently ran citing that illegal immigration is up in this country while the number of deportations are down. This is a DHS issue, of course, because it involves undocumented people entering into the country without any real record of who they are and what their possible intentions are. For the most part, people entering the country illegally are looking for work but we still have to take this report seriously. With New Year’s even almost upon us, security in this country tightens because there will be many parities hosted with large gatherings.

Jeh Johnson of the DHS recently spoke to reporters about the increase in illegal immigration. An administration official said the drop in deportations was at least partially due to the surge of illegal immigrants from Central America, who require detention, flights and travel documents, which makes them more expensive to deport versus the cost to deport illegal Mexicans, who can usually be quickly sent back across the land border.

The official also said part of the problem is that so-called “sanctuary city” localities are increasingly refusing to turn immigrants over to federal authorities for deportation. Homeland Security said localities refused 10,182 different requests from federal agents to hold illegal immigrants the agents wanted to pick up for deportation. (Washington Times)
Regardless if the numbers are slightly up or slightly down, the problem remains and will be carried into 2015 as an issue this country has yet to resolve. In fact, I don’t believe there is a “one size fits all” solution right now to address this problem. I’ve said several times on this blog that there has to be a series of protocols implemented but the ability for the DHS to look at illegal immigrants on a case-by-case basis before deciding if they should be deported or provided with an option to apply for citizenship. Either way, this is certainly an issue I will continue to address in the New Year.

2015 will be interesting for us as a country and from a homeland security perspective. I look forward to covering these topics (and more) for all of you in the future. This said, I will be taking a break from the blog to celebrate the holidays- returning with a post on Friday, January 26th.

Twyla N. Garrett

The Art of Oprah's 'Pivot'

I try not to quote Oprah often. She does what works for her- and there is no doubt that it works well. This said, Oprah's life and my life are two different things. What she wants, does and how she operates isn't for everyone. In fact, I never recommend modeling your life after what Oprah does. It isn't realistic and you're setting yourself up for failure. You have to be you!

I will, however, talk about the art of Oprah's Pivot. So, what is Pivot anyway? Eric Ries, author of The Lean Startup, coined the term pivot. This term means to change the direction of a company (essentially to avoid disaster) without alerting employees or clients.

The Oprah Pivot: Here is what she said. “Let me just say, we have made the pivot,” Winfrey said today on “Good Morning America.” “It’s been really an exciting challenge and I am really so happy to announce to the world, ‘We have made the pivot.’”

Here is what really happened: Oprah was losing her ratings. Her almighty show was on the brink of cancellation. She was left with three choices. 1. Allow the show to be cancelled and accept public humiliation that she really didn't have viewership she was projecting. 2. Retire while she was on top and let her employees find work elsewhere why her brand sailed into the sunset. 3. Reinvent her company to meet the demands of the audience she did have. Basically, rebuild from the ground up without letting her audience know the company was in trouble and her show was failing. Oprah opted for option 3- the pivot!

Steps for A Successful Pivot:

1. Get your team on board without creating panic. In fact, create excitement and talk opportunity, opportunity, opportunity. People talk. Employees talk. No leaks can be risked as to what really is going on with your company. Even with top executive management. Stay positive and get that team of yours talking up the next move for the company!

2. Keep money coming in while you plan your pivot. You need money to make money. Don't pause one business model or business effort to focus on another. That is a disaster waiting to happen.

3. Hire someone who knows how to pivot to help you the first time around. There is no shaming in the pivot- again, look at Oprah. I can help you, other business consultants can help, write Oprah a letter- do whatever it is to find the one special person who can help you pivot. You will need support!

There is no shame in learning how to pivot. The world changes. Demographics change. Your company is going to change. If you know how to pivot then you can change while making money and developing a stronger brand.

I hope this blog leaves you inspired as you head into the weekend,

Twyla

Gossip- When to Fire Friends.

Here's the thing, I'm not all business. Ok, 90% of me is a business woman- the other 10%? Well, that's just a woman. I wanted to talk about how to cut friends out of your life. It is a hard subject. I know what you're thinking; "Twyla, what does this have to do with business?" Well, everything!

If you can't cut negative or self-serving friends out of your life, how are you going to run a company? How will you make it as an executive? How will you survive in the world. You don't have to be liked all of the time. And, I got news for you, even when people are smiling to your face- you're not going to be liked all of the time!

If you have a friend who plays Devil's Advocate more than the role of a friend- it is time to move on. Why? Well, these are people who love to argue and oppose you. Their nature isn't to be supportive, it is to be opposing. You want some feedback - not just a tidal wave of negativity.

You also want to remove the 'inside scoopers' form your group. If they know what is going on is a secret and they still share it with you.... you'r secrets aren't safe with them! Drop them like a hot potato before your news is all over the place. People who have the inside scoop are great. People who have to constantly share it? Well, that is called being a gossip!

Finally, the people who have emotional erectile dysfunction. What's that? Yep, not literal erectile dysfunction- but people who fail to get it up and get on with it- referring to their dreams of course. If you have a friend who is constantly planning his or her next business move or love affair or vacation or trip to the grocery store and it NEVER, EVER happens- that person has emotional dysfunction and is feeding off of your energy (well, draining you of it) without making progress in the world. Ditch him or her and find friends who play on the same team as you- remember? The Go-Getters!

Well, that is it for this week. See you on Monday!

Twyla