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Confidence Is The New Currency!!!
Forget What You’ve Heard Confidence Is The New Currency.
Don’t believe me? Where do your eyes stop when you walk into a networking event scanning the room to determine who you should meet?
I’ll tell you…
They stop at the person who “owns the room:” who’s confidence is oozing out and catching your attention immediately. Confidence is no doubt the first thing we identify in a person or company. Its also what gives us the courage to buy what it is they are selling.
Confidence is one of your most important attributes as an entrepreneur. It’s the key to getting noticed and creating relationships that advance your business and life.
Go ahead Ask me… Shameca, How do I become confident?
In my opinion, the first step is knowing we are all born with confidence. Not until life started happening to you did you become fearful of expressing all of you God inspired gifts and talents. To course correct, you’ve just gotta find your way back to the confident version of yourself.
Just like prosperity and abundance, displaying confidence is your birthright. So, if you’ve lost your way, I have a few tips for you, and if they fit your personality…ROCK them, because you deserve to build a life and business that brings you joy!
TAKE ACTION…
Here are 6 Ways to Boost Your Confidence and Achieve Life and Business Success
- Focus on you natural strengths and use them daily. Each of us has strengths; natural gifts, talents, and abilities; And we were born with them. You know… It’s those things that you do naturally or instinctively, Its those deep-seated, intrinsic things that you do well and get praised for. Yep, those are your strengths! Your goal, is to begin using them each and every day. Spend as much time as you possibly can doing what you excel at instead of spending time on those things that you do okay. This will position you as an expert AND build your confidence.
- Shift Your Mindset. Its a known fact that you get what you focus on and you get what you expect. Expect that things are set up to work on your behalf. When you begin to focus on what you expect instead of what you are experiencing, your confidence in those areas will soar.
- Keep The Things That Boost Your Confidence and Illustrate Your Value Close To You. My favorite way to do this is my “Self Worth Journal”. It list what i’ve accomplished in my life. It shares the story behind my confidence. So, when i’m having a moment of self doubt or feeling like i’m not enough yet, (yes, it happens once in a while) i can reflect on all I have accomplished.
- Fill Your Self Worth Bank. One of my favorite things to suggest that my students and clients to do is spend a few minutes when they wake in the morning and before going to bed. Get in front of a mirror and tell yourself 3 things you love about you. This will boost and reinforce all that is amazing about you and position you to be ready to confidently take on the task and assignments that will get you closer to your objectives and goals.
- Build Your “Defy Impossible” List. You know… those things that you thought were going to be so hard but turned out to be a piece of cake. Write them down. For instance, one of mine was losing weight and getting healthier. I thought I’d never weigh less than 200 lbs ever again in my adult life. It use to be impossible but with food, strength and endurance training, I did it! And accomplishing that task boosted my confidence. Woot! Woot!
- Get and Play Your Theme Song Before Meetings. Now music is one of my secret weapons. What I love about music is it immediately shifts energy and positions us to take confident steps toward our goals. So get a theme song and play it daily or as many times a day as you need to keep your confidence high!
So… Talk to me! These are my tips but I want to here from you…
- How do you keep your confidence high?
- What do you do when you’re feeling unsure?
- How do you position yourself to be your best at all time?
GOT QUESTIONS?
OR
NEED SUPPORT FINDING YOUR FLOW FACTOR?
BEGIN HERE!
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Shameca Tankerson is Founder of Stiletto Wealth Society, a global community Dedicated to Empowering Women Entrepreneurs To Get Bold and use Breakthrough Business Strategies to Uncover their Flow Factor™, Gain Confidence they can Cash In, and leverage it to Build an Amazing Life and Business.
She is passionate about empowering women who find themselves playing small and are deeply and secretly scared of showing up as POWERFUL, DYNAMIC, and CONFIDENT to courageously own “who they be” and leverage it!
5 Money Mindset Shifts to Open Cash Flow
Every headline, news report, and magazine cover seems to scream the same thing at us day after day: “The Economy Is Doomed!” So it’s an especially important time to watch your own beliefs, and make sure you don’t fall into a “scarcity” mentality. Believe it or not, there are many people out there making good money, and in fact, making more money in the last four years than they had ever previously!
Why shouldn’t this include you? What are the “messages” you’re telling yourself? Are your thoughts consistently filled with abundance, creativity, and possibility? Or are they more often “running a number” on you about lack, failure, and pessimism – even unconsciously? Your mind is a very powerful tool of creation.
Your thought patterns really do create the way that you experience the world around you and the things that you focus your attention on will be attracted to you. So, you must become aware of what your money mindset beliefs are (or your money B.S. as I like to call them) and whether they are helping or hindering your success.
Here are 5 money mindset shifts that will support you and your business:
Money Is Really Simply an “Exchange of Energy”:
With everything that you do, and everything you receive, there is an exchange of energy. This is true also in your business; with every client communication, every consultation, every tele-class, and every written article, you are giving out energy, and it is being received by the other person. Money can be looked at as a representation of this energy. People pay you in the form of money (energy), so that they can receive your gifts. And then you pay others with money (energy) for their products or services. It’s really just one big exchange of energy – the money “itself” is just rectangular, green paper (at least in the US). The Shift: It’s really about what it represents, right?
Money Is a Sign That You Are Impacting The World:
Too often, coaches, consultants, and others in “helping” professions have negative associations with making a lot of money. Oh, they want a reasonable amount – but when asked to dream big, many say that wanting an excess of money feels greedy and uncouth. But think about this – you’re paid for your gifts and talents, and the impact that those have on your clients. So this money represents the tremendous effect you are having on the world. The Shift: More money is a sign of your greater impact, plain and simple.
You Must Actively Pay Attention To Your Money:
Respect and gratitude for money is extremely important. It’s like a relationship: Would you stick around for someone who didn’t pay any attention to you. It’s mandatory that you know exactly what you have, and that you’re making mindful decisions about what to use it for (remember the “exchange of energy” concept). It’s also helpful to get honest about your money situation with a small group of trusted friends or mastermind members who can “hold you as powerful” and support your intentions to bring in more income. This level of intimacy actually banishes any shame you may have about your money situation. And lastly, take a moment for gratitude with every check you write to pay bills or purchase you make – that you have the money to do so! The Shift: You get what you focus on and what you focus and pay attention to grows and becomes a bigger part of your life.
Stop Trying to Control the “How” of Money:
When you feel in your “gut” that you’re on the right track – when you’re coming from a place of inspiration – always take the next indicated action. Don’t talk yourself out of it with limiting beliefs such as “I don’t know how” or “what if it doesn’t work?” The moment you say YES and commit, trust me, the means will show up. The “how” of it all will present itself, one action at a time. You don’t have to know it all before you start moving forward. Money may flow in beyond your wildest expectations, and from a variety of sources you never could have predicted. Better to let go of controlling how it’s all going to work – God usually has something greater in mind than we can even imagine.
Money Needs To Flow:
“Money is like water, it needs to flow. When it doesn’t, it damns up, stagnates and goes septic. Fear, doubt and anxiety will stagnate the flow of money.” ~ Kendall Summerhawk, Million Dollar Marketing Coach
If you want your clients to spend their money with you, YOU need to be a model for spending your money with others. Period. Now, I’m not suggesting going into debt. But what I AM recommending is you continue to invest wisely in your business. On an energetic level there is no way you’ll get prospective clients to invest with you if you’re not walking your talk. The trick is to invest in products and services that add VALUE to your life or business. Once you practice this for yourself, you’ll understand first hand what it feels like so you can authentically guide your prospective clients to do the same. The Shift: Holding on to money will not keep you from losing it but it will keep you broke! Keep money circulating, spend and receive, spend and receive!
Want to use this article on your website or your own ezine?
No problem! But here’s what you MUST include:
Shameca Tankerson, is a Speaker, Trainer, Author, and Cash Flow Success Mentor to entrepreneurs and service professionals. Using a proven system, she opens a candid dialogue about money that teaches her clients how to breakthrough to their next income level and expand into a cash flowing business with a new collaborative business model that is liberating, Inspiring and Powerful. To Get your F.R.E.E. “Spark Your Cash Flow Financial Success Kit” – Making Room For Money: 5 Financial Mistakes Entrepreneurs Make That Sabotage Their Cash Flow (And How To Avoid Them). Visit: http://www.MakingRoomForMoney.com
So….Who’s Gonna Pay For That?
The Money is Already Here! It has not left the planet.
Contrary to popular belief and the financial doom and gloom stories you here on the news, Money HAS NOT left the planet. The biggest objection I hear from people working with me is, “I would love to, but I don’t have the money”. AND I know it is the biggest struggle you have when landing clients, as well. Out of all the objections for people to get the help, support, coaching, or consulting they need, money is the biggest. I have spent a lot of time finding ways to coach people into reality. The reality is two things:
1) We always have the money to do the things we REALLY want to do.
2) You always get exactly what you need when you need it.
If you believe Universal Truths of Abundance you will know the money is always there. Now, I do know some people do not know where to look for the money and that is where I come in. I thought it would be very helpful to share this with you for two reasons:
First, you might be telling yourself you can’t get the support you need because YOU don’t have the money.
Maybe this will help.
Secondly, it will help you in speaking to clients who say they don’t have the money.
So, here we go – 10 ways to get the money you need every time!
1) Business Loan. There are many small lending institutions (especially locally owned banks) that want to help finance small business because the entrepreneurs are doing well in this economy.
2) “Business Loan.” This is what I call a job or part time job. I think if you TRULY believe in your dream then you must do whatever necessary to realize that dream. A stream of income will help you go from NEEDING clients to wanting clients. And do not look at it as a job – it is a business loan to fuel your start up.
3) 401ks and other investments. Your accountant will probably tell you this is a horrible idea but is very possible to used some of your retirement as seed money. That money can definitely be used to grow your business. With so many retirement accounts shrinking with the craziness in the market be very aware that one very good investment you could make is an investment in YOU. There are even ways to roll the funds into your business with NO penalties.
4) Low Interest Rate Credit Cards. We have a really messed up view of credit in this country. Debt has been made to seem evil (I could go on for days about this), but good debt is a very useful tool. In fact when structured properly business credit cards will not show up on your personal credit report so there’s no negative impact to your FICO score for having to much debt. Good debt is debt you incur to finance a project or dream that will give you a return on investment and you have a plan to pay it back. You are using it to learn, grow, and develop to bring in revenue from your business. No one really blinks at student loan debt, but we all get nuts when we, say, put a coaching program or mentor on a credit card. What’s the difference? There isn’t – at all! One has just been conditioned by society to be okay. Check out the Cash Flow & Capital Secrets course.
5) Got Junk? I have had clients (actually right now) finance their dreams by selling gold, putting cool stuff on ebay, or selling a car they no longer wanted or needed. David Neagle, first financed his dream by selling a boat. Suzanne Evans spent a year selling yard sale finds on ebay to pay for a vacation AND her coaches. See how creative you can get?
6) Get Started NOW! Many of you are waiting to have everything perfect or in place to get clients and make money. I guarantee you know enough now to start working with people. Maybe you will have an introductory rate or special for the first 5 clients you work with, but there is no need to wait. You can start making money now!
7)The Bank of Friends and Family. Many times friends and family are happy to help and will charge you a much lower interest or no interest. If you are in the UK, Australia or South Africa, Richard Branson has made this very easy with www.virginmoney.com He has created a program that helps friends and family create loans and have tracking, accountability, and make them professional and organized. He calls them social loans. Crowd Funding is a more widely used term.
8) Make a Cash Flow Change. Look at your full budget and spending – I have never seen one person or family that didn’t have something they could tweak to find money for their business. Is there a tweak that could be made to your daily spending? Hobby spending? Where is there waste in your weekly budget? Are there services you haven’t used in 60 days or longer that you pay for every month? If so, cancel them. You can always start them again if you need them in the future. It can be amazing how easy it is to find $100 or more a week with small changes.
9) Apply For a Home Equity Line of Credit. Some banks offer home equity lines of credit that let you borrow up to as much as 85% of the appraised value of your home. Depending on the value of your home and what you still owe in other mortgages, that can put a significant chunk of money at your disposal for starting your business. The downside: you’re putting your home at risk. This is not an option for everyone, but it is a great option for some. Always understand your risk and all the details.
10) Make The Decision. You or your clients do not need the money for coaching /mentoring/support until they make the decision to get support and play a bigger game. Anything is possible when you make a decision. Many people think they have made a decision, but here are the facts. A decision is ONLY when there are no other options. There is no failure or stopping buckets to put your balls in. You do whatever it takes. And you will get the support you need to make it happen because when you decide, heaven moves to support that decision.
There is divine provision waiting to fund your dream! Heaven is ready to move on your behalf. The money is already here!
Want to use this article on your website or your own ezine?
No problem! But here’s what you MUST include:
Shameca Tankerson, is a Speaker, Trainer, Author, and Cash Flow Success Mentor to entrepreneurs and service professionals. Using a proven system, she opens a candid dialogue about money that teaches her clients how to breakthrough to their next income level and expand into a cash flowing business with a new collaborative business model that is liberating, Inspiring and Powerful. To Get your F.R.E.E. “Spark Your Cash Flow Financial Success Kit” – Making Room For Money: 5 Financial Mistakes Entrepreneurs Make That Sabotage Their Cash Flow (And How To Avoid Them). Visit: http://www.MakingRoomForMoney.com
3 Simple Ways To Fatten Your Bank Account
MONEY. Sometimes it might as well be a four letter word. Have you ever felt if you ignore the topic it will go away? Did That increase your income? I Here it all the time…Shameca ” how do you do day to day management and monthly management of money in your business” and that statements if oftern followed by I’m not a financial persona like you. Shhhh…I’ll let you in on a secret. I’m not a financial person either. I had spreadsheets and all that jazz. And thats why i’ve created simple system that make the money part of business easier. Let me share a secret with you about money, It loves attention! I have three ways that will make tracking your money simple and doable.
So, how does a business owner manage money?
Why should you even pay attention to your money? Well, one of the attributes of money that I teach is “Money Loves Attention”. Just like most relationships, the more love and attention you give money the more of it you will make. This is true for everyone. From the person who avoids looking at your bank accounts and bills = a classic avoider. No worries – you’re not alone, I used to reside in that camp.
To the person who feels as though you don’t need any money to do what you love – you’re a classic martyr. Or maybe you just spend every dollar that comes into the door – you’re a spender. Or finally, you might hoard your money so close to you that you deny yourself pleasure and you aren’t growing – you’re a saver. No matter where you fall – tracking how much money is going in and out – is going to help you create a better relationship with money. And that will translate to more green stuff in your bank account and more massages and tasty restaurant meals (whoo hoo – I’m in!) Here are three ways to start receiving more money today:
ATTENTION: These three tracking mechanisms are not for your accountant. They are more for you to keep an eye on your money. What you do for your accountant may or may not be different.
1. Daily: Track Cash Flow: Create a Cash Flow Tracking Sheet: Here’s a simple system. Take out a piece of paper….YEAH I said a sheet of paper. Number it from 1-31 on the left – these numbers stand for the days of the month. On the top, write an inspirational quote for yourself. For example: “I am a money attracting genius and people eagerly pay me for the transformation I provide.” Also write down how much money you would like to attract over the next 30-60 days.
For example: 60 Day Goal: May 15th – $8,500. Now next to each of those numbers you will write down all the money that comes to you from ALL the sources in your life. It doesn’t matter whether it is business-oriented or not -all means all. If you find a $20 bill on the street, write it down. If your grandmother sends you a card with a check, write it down. For those of you that use a shopping-cart, Paypal or merchant account, write down the number that comes in from the day’s total. Every time you write your daily number down – celebrate, cheer, have a praise party. Show gratitude. Create and inviting atmosphere for the flow even more towards you. Remember, “money loves attention” .
OKAY. So I know some of you are thinking, “Shameca, I don’t make money every day. My sheet is going to be totally blank.” I want to encourage you that this process is almost magical. By month 5, you’ll be attracting more money than you ever did before. Why? Because you’ll be giving it attention of course. And we all know we get what we focus on. But don’t be misguided. You can’t just sit in your home and wish for the money. What you’ll find is that you start to get creative about how to attract money here, there and everywhere, namely bec ause there is a part of you that wants to fill your sheet. It’s not that different from the gold star tracking system that our elementary school teachers used. I mean who doesn’t want more gold stars?
2. Monthly or Weekly: Track Expenses: Ok, this one isn’t as much fun, but it is necessary. As a business owner, you also have to be aware of what is going out. The way that I do this is in excel. I set up a spreadsheet that has all the categories of my expenses for both business and personal in the first column. The second column is titled personal and the third column is titled business. Then I save every receipt everywhere I go – business or personal. At the end of each week or each month, enter the receipts into the business or personal column. If you don’t like the data entry of receipts there’s a cool tool called neat receipts that will input it all for you. That way you can get a sense of your spending for the month in various areas. You can also hire a bookkeeper to do thi s for you either in Excel, Quicken or Quickbooks. You can also learn to do it yourself in the software. It’s up to you.
3. Quarterly: Evaluate Cash Flow- Income and Expenses and Evaluate Your Money Making Strategy: First, evaluate your expenses: Have you ever looked at your credit card bill and noticed that you are being charged for a club that you totally forgot that you joined? Or that you haven’t used a software you purchased in three months even though you’ve been paying dues? It’s good to evaluate your expenses each month and make sure that you are still paying for what is important to you. You should also do a check on how much you’ve been paying for certain categories. I noticed once that my restaurant bill had more than doubled and it came with 10 extra pounds! You can bet I did some more home-cooking after that! It’s not uncommon for me to help my client’s find $25,000-$50,000 a year in fees and expenses that could have been eliminated. What could you do with an extra $25,000 – $35,000.
Second evaluate your Money Making Strategy: What launches worked well? Which ones brought you less money then you had liked? For example, I often see practitioners offering retreats where they either break even or make very little money on each client. When they work with me we figure out a service that takes less time and brings in a higher return on the investment. Decide what could you do differently over the next 3 months? Then change your Cash Flow Strategy accordingly so that you are doing activities that bring in the most amount of money and give you the greatest amount of pleasure.
In terms of making room for money and increasing cash flow, this is just the tip of the iceberg, but these activities alone can double your Cash Flow if you do them consistently. Good luck with it all and do let me know how it works for you. And feel free to tell me how you manage your money in the comments on my Facebook Page. I’m always open for new ideas
Want to use this article on your website or your own ezine?
No problem! But here’s what you MUST include:
Shameca Tankerson, is a Speaker, Trainer, Author, and Cash Flow Success Mentor to entrepreneurs and service professionals. Using a proven system, she opens a candid dialogue about money that teaches her clients how to breakthrough to their next income level and expand into a cash flowing business with a new collaborative business model that is liberating, Inspiring and Powerful. To Get your F.R.E.E. “Spark Your Cash Flow Financial Success Kit” – Making Room For Money: 5 Financial Mistakes Entrepreneurs Make That Sabotage Their Cash Flow (And How To Avoid Them). Visit: http://www.MakingRoomForMoney.com
3 Hints, Clues, & Tell Tale Signs It’s Time To Raise Your Fees
When it comes to fees and charging, most women feel a lot of conflict. We care. we’re women… it’s a double-whammy of cultural conditioning that says “give it all away.”
The thing is, this leads to women chronically undercharging and waiting far too long to charge what their work is really worth. It may feel giving and generous, but as the saying goes, you can’t give from an empty cup. Ultimately, undercharging leaves you depleted and defeats your purpose of making a big impact in the world.
Here are 3 “dead giveaways” (and one bonus!) that both you and your clients will be better served by giving yourself a raise:
Hint #1: You’re exhausted instead of exhilarated.
In the beginning of my journey, I would spend hours and hours and hours and hours (did I mention hours?) on projects that paid very little. I’d package together credit repair, debt repayment plans, building business credit and helping my clients fund their business all in a done for you package.Sure, the money was nice when it was coming in, but 40+ hours on the project later or 9 months later … let’s just say it was hard to stay motivated. And I love helping people get to the next level in their businesses.
Doing what you love should inspire, well, love. And gratitude. If you’re not feeling the love, that’s a big clue that you’re falling far short of receiving money in alignment with the energy you’re giving – and you simply can’t sustain that for the long haul.
Clue #2: You feel resentful towards your clients.
Ironically, women who undercharge often find themselves attracting needy and demanding clients. But even the best of clients can become a drain when you’re not charging enough. (Or not charging enough and over delivering!) If you’re feeling resentful and feeling guilty… it’s time for a shift.
Tell-Tale Sign #3: You’re working constantly and still just getting by.
You can always create more money, but you can never create more time. So when you’re signing on clients and charging too little, what happens? You get burned out… quickly.
One of my past Diamond clients was in a situation where she had two choices: continue to serve the last few clients in the “old way” of working (dollars for hours), or release them with love if they weren’t ready to step into her new high-end packages. The decision was really weighing on her because they were awesome clients who she deeply cared about. (There was a lot of history there, too – all of them had been with her for years.)
With a little coaching, she had a huge breakthrough: saying yes to those old clients would have meant saying no to herself – her own needs, self-care, time with her family, and her dreams of a much bigger business. (And the opportunity to give those clients something bigger to step into, as well.)
And here’s one more hint, clue, & tell-tale sign you’re charging too little…
When clients consistently buck and complain about your already-low fees, chances are it’s time to raise them. Counter-intuitive, I know, but experience has shown this again and again. (Definitely in the early part of my journey, increasing the price of a struggling offer would often increase conversion.)
“But Shameca,” you may be saying, “My fees are already way too low and people are complaining. How can I raise them when I can’t even get them to say yes now?” (I hear this all the time!)
The way to authentically increasing your fees is this…
To increase your fees and feel great about it, you must stay connected to the value of the transformation your clients get. What really gets to happen for them as a result of your work? How can their lives change when they step up and you step up… together?
Often this means letting go of the clients who aren’t a fit for the value you provide, and turning your attention to those who are. Remember, Like attracts Like. When you own your value first, you’ll naturally attract clients who value you… and themselves as well.
Want to use this article on your website or your own ezine?
No problem! But here’s what you MUST include:
Shameca Tankerson, is a Speaker, Trainer, Author, and Cash Flow Success Mentor to entrepreneurs and service professionals. Using a proven system, she opens a candid dialogue about money that teaches her clients how to breakthrough to their next income level and expand into a cash flowing business with a new collaborative business model that is liberating, Inspiring and Powerful. To Get your F.R.E.E. “Spark Your Cash Flow Financial Success Kit” – Making Room For Money: 5 Financial Mistakes Entrepreneurs Make That Sabotage Their Cash Flow (And How To Avoid Them). Visit: http://www.MakingRoomForMoney.com
3 Easy Ways To Eliminate Your Competition
Eliminating your competition is the easiest way to increase your chances of business success. When I say eliminate, I mean … take them out of your prospect’s consideration, so your prospects ONLY think of your business, product or service when they are contemplating making a purchase.
This is pretty easy to do if your business is not in a competitive industry. But let’s suppose you are in an industry where there’s a slew of compitition, like coaching, consulting, or speaking.
How can you make sure your prospects ONLY think of you — and therefore only BUY from you — and not all those other coaches, consultants, and speakers?
Here are 3 easy ways to elimate your competition.
(1) Find a position in the category that none of your competitors focus on that you can own (a Niche).
This will separate you from all the other businesses and will make you uniquely qualified in the eyes of your prospect to fill their specific need. It puts you in a class of your own and virtually eliminates the competition.
(2) By joining forces with your competitors
What the heck? Yep you heard me right! You can turn your competitors into a partners and prosper. Are there businesses or individuals with whom you could partner, with the idea of referring business to each other?
For example, a wellness coach could partner with a weight watchers clinic or a health club or a massage therapist. All of these practitioners are selling improved health and well being, but they can also be positioned as complementary services.
Or, let’s say you are a web site designer and you decide to focus primarily on working with small businesses (a market niche). You could create a partnership with another web site designer who has decided to focus on large corporations.
If you both agree to only take on business that fits your identified niche, and to refer business outside your niche to the partner, you both win.
(3) Being YOU
Remember this: No one does exactly what you do. Or in the quite the way you do it. When you are your authentic self…You will attract those who naturally connect with your personality and stye of doing business. Develop your own signature system and process. Name it and Rock It!
Check out this quote from a well known superstar that rocked his own style:
“My mother said to me, ‘If you become a soldier, you’ll be a general; if you become a monk you’ll end up as the Pope.” Instead I became a painter, and wound up as Picasso.”~ Pablo Picasso. Just be you, and share your Light with the world. You really are more than enough.
There is not a business out there that cannot effectively use one of these two strategies to significantly reduce their competition. So figure out which strategy fits your business best, and make it a priority to eliminate your competition this year.
Finding New Ways To Finance Your Dream
Statistics show that more than one million people in the United States start a new business each year.
That number would be much higher if all the would-be entrepreneurs had the financing required to get a business up and running. In order to accomplish their dream of business ownership, entrepreneurs are finding new and innovative ways to finance their new ventures.
One of these new financing options is the use of a person’s existing retirement funds-a pension, profit sharing, 401(k), IRA-which allows that person to start the business he or she has always dreamed of without tax penalties, consequences or mountains of debt.
Funds can be turned into useable capital for business investments or operations. If a person has more than $20,000 in a retirement account and is not currently employed by the company that holds those funds, he or she qualifies for this Small Business Administration (SBA)-recognized approach to finance and start a business.
Retirement funds can be used for any business purpose. Could you use money for any of the following reasons:
- Purchasing a franchise or existing business
- Start-up expenses, such as purchasing property, and equipment.
- Working capital, including paying salaries, and franchise fees.
- Business expansion, such as funding additional franchises, and locations.
- Equity toward SBA or other loans.
Funding your business is as simple as these four steps:
Step 1: Establish a C-corporation.
Step 2: The new corporation creates a retirement plan.
Step 3: Funds are rolled over into the corporation’s new retirement plan.
Step 4: The new retirement plan purchases the stock of the corporation.
So many people have watched their dream of owning their own business go out the window due to lack of funding options. We help entrepreneurs, coaches, consultants, and services based businesses achieve that dream every day.
Guest Blogger Ursula Mentjes: Why Didn’t I Get The Sale?
Throughout my years as a Sales Coach, one of the questions that my clients sometimes ask is, “Why didn’t I get the sale?” I say, “sometimes” because no one really wants to talk about lost sales. We don’t even like to admit that we didn’t get the sale. But I want to tell you that sometimes not getting the sale isn’t a bad thing. And, there are things you can do to reduce the amount of sales you don’t get. The reality is you aren’t going to get every sale. Nor would you want to. It is important to remember, though, that selling begins in your mind. When I wrote Selling with Intention, my primary goal was to teach Sales Professionals and Entrepreneurs that they had a lot more control over selling then they thought. And that was the key–more than they thought. Selling begins in your mind, and when you “get that” at a deep level, selling can become effortless.
Think back to the last time you didn’t get a sale. How did the interaction begin? How did it end? My guess is that it was one of the reasons I am going to share with you below. After each reason, I am going to share a key strategy with you that you can implement next time to make sure you get it (as long as you want it)!
Usula Mentjes, M.S., ACC: Founder of Sales Coach Now
Four Reasons Why You Didn’t Get the Sale:
You didn’t ask.
Let’s face it. Sometimes you can have a phenomenal conversation with your prospect, and it feels like everything is going perfectly until the end of your time together. You can feel the time creeping up on you, the hour is almost over, but you haven’t asked for the sale yet. Fear creeps up, strangling your vocal cords, and before you ask for the sale you find yourself scurrying out to your car, trying to get your key into the ignition as quickly as possible. Looking back you know you could have had the sale, but you didn’t ask. Strategy: Next time you are wrapping up a great appointment with a prospect, save time at the end to take a breath and then simply offer at two to three solutions for them to choose from. You will probably be surprised to find out that by simply offering choices, you WILL get more sales. Or, let them know that you will be writing a proposal, then set the next appointment when you will be delivering it. Always have the next step set before you leave!
You didn’t set your intention.
Not setting your intention is a lot like not asking for the sale. If you aren’t expecting the sale, you probably aren’t going to get it. Strategy: I always encourage my clients to set their intention ahead of time and actually visualize the sales process from start to finish. Being intentional about selling is like “assuming the sale”-or expecting that you are going to get it. Notice how you feel when you “expect” something to happen versus just “thinking” or “hoping” you are getting it. I recommend that you expect the sale only when you are working with your Target Clients. Otherwise you will feel like you are just forcing the situation rather than letting it unfold. Set your intention and expect to get the sale!
You didn’t really want it.
Deep down, at a gut level, you KNOW when a prospect who is sitting in front of you isn’t a Target Prospect. A Target Prospect is a prospect that fits your ideal client profile and needs and or wants (or both) what you are selling. One of the main reasons you set an appointment with a prospect is for you to get to know them and for them to get to know you. During the process of assessing their wants and needs, you will figure out whether or not you really CAN solve their problem or help them with your products or services. Strategy: Maybe the last time you didn’t get the sale was because you didn’t really want it. You recognized that for whatever reason, this prospect wasn’t a good fit. And that’s okay. In fact, it’s better than okay because you did what was in the best interest of the prospect. When you can’t help a client, refer them to someone who can.
You didn’t build rapport.
People buy from Sales Professionals they LIKE, KNOW and TRUST. It takes a different amount of time to build rapport depending on personality types. Laura Bruno, owner of Southern California’s Referral Institute, teaches a great class called Room Full of Referrals. This class teaches you the different personality types and how to sell to each one. One of the reasons you might not have gotten the sale is because you didn’t take the time to build rapport with your prospect. You can tell whether or not you have built rapport because they will either seem completely disconnected from what you are talking about, or they will be engaged. Strategy: Taking time to build rapport can often be the difference between gaining a new client, or shaking your head and walking away wondering what just happened. Ask questions, have open body language, make eye contact and get to know your client and their challenges so you can determine whether or not you can help them.
Action Item: Think back to the last time you didn’t get the sale. Which reason above most accurately describes it? What could you do differently next time? Can you think of a client that you think might have said yes if you had asked for the sale? Make a commitment to yourself to call that client and set another appointment. And then ask for the sale!
Not getting the sale often makes room for the next “big client” that is trying to get to you. The next time you don’t get a client, and you know it was because they weren’t a fit, just be grateful. I can almost guarantee you that the next one is right around the corner!
© Sales Coach Now
Ursula Mentjes, M.S., ACC is the founder of Sales Coach Now and the author of Selling with Intention and One Great Goal. Ms. Mentjes has helped clients double and triple their sales revenue in as short as two months! If you want to do the same, then visit her web-site at www.salescoachnow.com <http://www.salescoachnow.com> and subscribe to her e-zine by clicking on the sign up box and typing in your email address. You will receive a FREE downloadable MP3 recording, “7 Ways to Sell More in a Doom and Gloom Economy”. Or, join her at Sales Coach Now—LIVE 2011 for the re-release of Selling with Intention through Morgan James publishing! She will be sharing the stage with Loral Langemier, Craig Duswalt and other experts. www.salescoachnowlive.com <http://www.salescoachnowlive.com> . Ursula currently serves as the NAWBO-CA Vice President of Corporate Partners and Economic Development, is Past President NAWBO-IE and Past President of NAWBO-U (Inland Empire).
Shabby Business Image: What Does Coporate Image Have to Do With Getting Capital
Your company’s image is a huge part of it’s credibility. There are actually creditors and vendors who will not finance your company if you don’t have a website or aren’t listed in the 411 directory. Yep, that’s right! It is equally important your company complies with both local and federal laws and ordinances, thus supporting the integrity of your business entity. The truth is lenders are not required to share their lending criteria or compliance formulas used to determine which businesses they approve or deny.
Does this sound familiar:
You need to borrow capital for inventory, new space, upgraded equipment, a new phone system, internet marketing, expansion, or simply to have an emergency cash cushion. You are confident in approaching a lender to request a business line of credit, after all, your business is profitable and you have your business checking account with this lender. They are familiar with your business. The process couldn’t get any easier, right? You can breath a sigh of relief.
Finally, you receive a letter in the mail from the lender, “Dear ABC Company, we regret to inform you that your request for credit has been denied.” There is usually no understandable explaination in the letter other than your business did not meet their lending criteria.
80% of small businesses are forced to close their doors forever because they could’nt get the capital they so desperately needed. Don’t become another statistic put your business in the hands of a Business Cash Flow Strategist that is familiar with compliance requirements so you can get the funding needed to grow a successful business.
Shameca Tankerson, is a Speaker, Trainer, Author, and Cash Flow Success Mentor to entrepreneurs and service professionals. Using a proven system, she opens a candid dialogue about money that teaches her clients how to breakthrough to their next income level, create consistent cash flow and expand into a cash flowing business with a new collaborative business model that is liberating, Inspiring and Powerful. To Get your F.R.E.E. “Spark Your Cash Flow Financial Success Kit” – Making Room For Money: 5 Financial Mistakes Entrepreneurs Make That Sabotage Their Cash Flow (And How To Avoid Them). Visit: http://www.MakingRoomForMoney.com
Encourage Me Girl!
Author, inspirational Speaker Songbird, & Consultant
So…Can we work together?
Are you looking for a place to be encouraged by other women? Are you willing to share your story and encourage others? If we work together we can add a little sparkle to each others day and be empowered to help others.
I will be video blogging a song or words of encouragement everyday for 30 days Starting Feb 1st. I hope you will also commit to sharing your stories of hope, triumph, and victory. Just post in comments, insert #encouragemegirl into your tweets or if you’d like to be interviewed on my radio show send a request to Ask Shameca Tankerson.
Be Encouraged!
Play BIG #Power Player 