Business Book Recommendation

I want to start recommending books that I have read and have found helpful in my continuing journey as an entrepreneur. Success doesn’t happen overnight and it doesn’t come easy. While everyone may have advice for you, the best thing I can say is to create your own path. You should learn from others but apply it to your own situation. Don’t copy others because then you’re simply repacking an existing idea.

All this said, my first Monday Book recommendation is called ‘The $100 Startup: Reinvent the Way You Make a Living, Do What You Love, and Create a New Future’. I am in NO way affiliated with this book. I don’t know who wrote it nor do I have a relationship with anyone who worked on it. I simply love the content and feel that it can help so many of you, too. Here’s the link to buy it on Amazon: http://www.amazon.com/100-Startup-Reinvent-Living-Create/dp/0307951529/ref=sr_1_13?ie=UTF8&qid=1438646501&sr=8-13&keywords=business

It’s over 300 pages and there is a video trailer on the Amazon site for the book. I love this book because it doesn’t present a roadmap as to how you can get rich. Instead, it presents options to really look at yourself, what you want, and how to get yourself in the right mindset to get there… even if it is with only $100!

When you’re doing reading this book, please share your thoughts with me. I am eager to read what you liked and hated about this book.

Until next time,

Twyla N. Garrett

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

Traveling - Homeland Security & Ebola

Should I say that is seemed obvious our DHS (Department of Homeland Security) should have been on top of the Ebola "US outbreak" all along? Well, I wish it was all so simple. I've spent the morning reading critical article after critical article and I don't think the reporters understand that the DHS doesn't have a magic wand. It can't snap its fingers and have trained and designated employees on the front line. Does this mean mistakes weren't already made? No, but I think the DHS does need to be cut some slack.... Here's why;

1. The one incident in the USA so far was because of a lie and the home country didn't catch it. This wasn't completely our fault. In fact, it was a Houston hospital who released the patient first, which was a security risk on its own.

2. The Homeland Security Department ordered agents at airports (and other ports of entry) as of TODAY so its staff can observe everyone coming into the United States for potential signs of Ebola infection. We had to coordinate people, training, procedures, etc. to ensure the DHS was meeting both the obligations of our security and its budget. Sending untrained staff to a location doesn't do anyone any good, in fact- this could have put more people in harm's way, so it did take some time to respond.

3. The Obama Administration has to make the final call. The DHS can't write unlimited checks, it needs approval and it needs a signature to perform certain actions. While it is easy to blame the DHS, it isn't as easy for the Department to get initiatives passed.

Going forward, I believe the DHS will do a great job of protecting our citizens from exposure to Ebola through airport and other entry point channels.

Until tomorrow,

Twyla N. Garrett

Brilliant Investment Moves

I think one of the biggest reasons businesses fail is the inability to understand numbers. Many people have great ideas, but not everyone understands finances. This is why we have business owners and then we have serial entrepreneurs. Business owners tend to own one company and they tend to struggle for the first 10 years (if they make it that far) because the financial end has a learning curve. Entrepreneurs, on the other hand, own many companies because they understand numbers and are more engaged with balance sheets than the products or services they are selling. neither option is great for both the development of a company and customer service, a balance has to be struck!

So, all this said, I figured I would offer a very basic lesson in investing. You need $100 to execute this practice, but it will teach you a valuable lesson. With your $100, buy one share of a stock market Exchange-Traded Fund (ETF). I suggest you Open an account with TD Ameritrade. Opt into the commission-free ETF program. Buy one share of the Vanguard Total World Stock ETF (VT). This means you are buying into a pool of companies (about 5,000) from around the world.

Now what? Wait. You can loose money, but you can gain money. The key is to focus on the numbers and understand how commerce truly works by using your own money. Worst case scenario is you lose $100 dollars. Best case scenario, you grow that same $100 dollars and learn the balance between owning a business and investing in a company.

Until tomorrow,

Twyla Garrett

Winning in the boardroom.

I wanted to use today’s blog to discuss playing nice in life. I mean all aspects of life, too. You see, in business we have to deal with boardroom meetings, client meetings, interaction with coworkers and employees, in-laws, etc. I’m not going to lie, these interactions can test our patience. If we lose it, we lose in life. It is crucial to know how to win in a group, which means making some unpopular decisions and statements on occasion.

Below, I am going to lay out my top 5 ways to win in the boardroom and in life. These steps will help you navigate your way to success in a group environment. Please don’t think these are tips on being popular, they’re not. In fact, some of the time- they may make you unpopular.

1. Don’t lie. It sounds obvious but it has to be said. The truth will follow you. Not stating something is also a form of lying. If you are always upfront with people, you have nothing to worry about in life.

2. Address conflict immediately. You shouldn’t wait for things to die down. This tactic will always cause the other person to hold onto a grudge versus letting it go. My best advice is to address conflict head on and work for a positive resolution versus hoping it will all “blow over.”

3. Understand there are no perfect people. . A variety of personalities and types can add differing perspectives to help make a team more productive. You will have to work alongside these different personalities. You may not have to like the people you are working with, but respect their differences and how they can better the project because of their distinctions.

4. Ask questions. Don’t assume anything in life. Further, if you think someone understands what you are asking of them, don’t be afraid to have them repeat the instructions back to you with a plan of how he or she is going to attack the tasks. This isn’t for micromanaging purposes. Instead, it helps to ensure the other person understands what you are asking of them without insulting them.

5. Allow yourself to fall down. The world is super competitive right now. Cheating is at its highest level. Don’t cheat, don’t forge, simply try. If you fail, allow yourself to fall down and then get right back up. Try again and make sure you do so by incorporating what you learned from the failed attempt.

Remember, if you are honest and address conflict with others right away- you are already going to win many battles in life. Now, work in understanding that people aren’t perfect, ask more questions then you make suggestions, and also become persistent and the world will be yours for the taking.

Until tomorrow,

Twyla N. Garrett

2 Bad Ways to End A Business Meeting

I attend many meetings, both with clients and my own staff. There are two things about ending a meeting that really bug me and other business owners. No matter what your status is in a company, don't commit these "meetings crimes."

1. Lack of Follow Up.

This drives me up a wall and back again. If you say you're going to do something in a meeting, do it. You shouldn't be prompted by clients or peers of what needs to be done or for a status check. As soon as you leave your meeting, delegate your calendars to reflect when items are going to be started, when they are due, and what dates you're going to send out progress emails to all involved. A lack of follow up shows that you're just attending the meetings, but aren't really interested in any real action.

2. Not Ending A Meeting on Time.

This drives me crazy! If I'm inviting people to a meeting, I understand they are taking time away from their other responsibilities to attend it- even if they are my own employees. When I set up a meeting I note a time frame. I always tell the attendees that the meeting may go an extra 20 minutes longer and to schedule enough time for this to happen. This way, if I do go over- no one is upset. And, if I get to 20 minutes past the end time- I allow the people in the room to vote on if the meeting should continue or should be continued at a later date. Ignoring someone's schedule requirements is just rude. If you schedule a meeting, note the timetable and stick to it.

Business etiquette is a big part of your every day life. Make sure you follow these two rules to keep customers and peers happy.

Until next time,

Twyla Garrett