Young Entrepreneurs Business Mentoring Program

This is It – your opportunity to take your business to HUGE Levels in 2011!

If you live in the Illawarra area and you own your own biz or start up – you got to JUMP into the 2011 Young Entrepreneurs Business Mentoring Program (YEBMP). It is a MASSIVELY DISCOUNTED program – value $5000 NOW ONLY $550!

This is what you get:
+ business growth plan
+ finance systems – cashflow forecasting, budgeting, pricing and heaps more….
+ marketing systems to get the $$ you need to establish and grow
+ sales and promotion tips that you can apply straightaway
+ creating simple but critical systems to get your biz working without you!
+ mentoring ops
+heaps of networking

Register by emailing info@frankteam.com.au or calling 9518 6244

You meet fellow entrepreneurial legends and create an awesome community & network! 2011 – is waiting for your business to explode; so get all the business, finance, marketing and operations skills you need to take your business to HUGE heights!

During one of The FRANK Team’s recent Sydney Young Entrepreneurship meet-ups, outsourcing came up as a particular challenge for entrepreneurs – whether it is simple admin or bookkeeping servces, website design or more complex project management outsourcing – So we thought we’d help you out; Click here for your FREE Outsourcing Brief.

It’s stuff like this that we get done in our workshops – practical tools. No fluff. No hype. When you succeed, we succeed. Simple.

If you already like what you hear – contact Natasha@frankteam.com.au, or give us a buzz on +61 9518 6244.

YEBMP is a program for young entrepreneurs who want applicable and real tools to –
+ reduce the stress of running your own biz (and the loneliness!)
+ increase the profitability of your businesses by a lot!

You bring your laptop to the sessions and you implement and put all the theory into PRACTICE. And best of all you get heaps of mentoring and networking ops to support you along the way!

How Much Does YEBMP Cost?
YEBMP will cost you ONLY $550 ( incl GST). But it’s valued at over $5000. Wow!!!!! Thanks Dept of Industry and Investment!!

When & Where Is It Happening?
Workshops will take place on the following dates –
- 28th Feb 2011 (6 – 9pm)
- 9th Mar 2011 (6-9pm)
-19th Mar 2011 (9 – 6pm)
+ networking ops and mentor meet-ups

Venue
All workshops will be held in Wollongong.

Oh! we forgot to mention that we only have 20 spots left – and booking in fast!

What’s been said?? "Not only did I learn practical, realistic methods to improve my marketing systems, I had ample opportunity to apply these methods during the actual workshops. It’s all very well learning systems and strategies, but if you don’t have the time to implement them into your business nothing actually changes!”  – Amanda Gonzalez, www.untangletheweb.com.au (2009 Participant).

How do you Apply?
Contact me at natasha@frankteam.com.au

Or give me a buzz on +61 9518 6244

There are only a handful of places left so be sure to grab this brilliant opportunity with thanks to the NSW Department of Industry & Investment!  

Savvy Networking Tactics

So you’re into business networking? Here’s some savvy tactics to make the most of your time and develop your new-found relationships.

Be Strategic

By now you should have the confidence and basic networking skills for you to enjoy and benefit from every one of your networking experiences. You’ve got some key contacts, and a thirst for more.

It’s time to get strategic. You should now know which type of networking experiences you typically get the most out of. Perhaps you find your professional association contacts a bit dry and boring but love attending a particular event or regular group meeting? Don’t cut the old ties, just focus more on the ones you can see yourself benefiting from (and enjoying!).

Start by planning your year (or what remains of it). Be strategic about the events and groups that you will frequent. Decide on your level of involvement with each of them as well (will you volunteer more time with any of them, perhaps write their newsletter or organise a fundraiser?), and weigh up what spending more time and energy on each will actually achieve. Of course, as well as penciling in these ‘must-go’ networking opportunities, you also need to leave time for those that you may not have heard about yet, such as one-off events or launches.

As well as making these choices and scheduling them into your business and social life, it can be a good idea to start a networking budget. This should include money for events and membership fees, extra money for unplanned or unexpected opportunities that come up, and a small portion of money to spend on your networking ‘weapons’ to make an impact (see below). A budget will naturally make you more strategic in your approach to networking as not only is it a self-allocated source of funds for your activities, but it also makes you think carefully about what you do and don’t want to attend.

Weaponry

Business cards, conversation starters and the ability to quickly identify relationship possibilities are the three pillars of networking basics. But these things are also expected of business people. Go the extra mile by arming yourself with some extra weapons to develop existing relationships and establish some great new ones. These things will also ensure that you’re remembered by the people that you meet!

Here’s some ideas:

Networking cards

* Get some business-card size cards created that explain what you do. This is especially suitable for businesses that often have complicated terms or concepts. Provide definitions of those terms as well as a way to find out more information.
* This is also great if you are a member of a networking group/club looking for members, as it can explain what the group does and provide contact details.

Mini-Newsletters

* Print a small newsletter about your activities to hand out to people who you end up in deep conversations with, especially if they appear genuinely interested in more information about what you do, on the spot. The newsletter should be just that, news. Don’t ever try to sell anything at a networking event.

Referral business cards

* Carry the cards of other people’s businesses you know and trust. If you meet someone and end up recommending one of the businesses you have a card for, hand them a card! It’s a good idea to write on the back of each card, “Referred by your name” so that the person remembers you and mentions you to the business. You always get back what you give out, so make sure you refer professional, ethical colleagues who deserve the promotion and who you either use or would use yourself.

A funky business card holder/case

* Many networkers (and women in particular) carry a slim, small business card case. Turn it into a conversation starter and talking point by choosing a funniy shaped or brightly coloured one. Of course, make sure the case isn’t rude!

Your diary

* This is absolutely essential incase you need to schedule a time for further discussion with a new colleague. They are much more likely to follow up on your discussion if you set up a time right away, rather than if you contact them later (which should be doing with all your contacts anyway!).

Name tag

* Get a name tag made that has your business logo on it. Carry it everywhere. This means you can easily deal with events that do not provide name tags or ones where they may have spelt your name wrong. It also means people remember your tag, especially if its bright and attractive. Wear your tag on the left hand side so as not to block it when you shake hands with people.

Somewhere to put collected cards

* Where do you put the cards you collect at an event? Whatever you do, don’t put them in your own business card case or, especially in the case of men, in the same jacket pocket that has your own cards. It doesn’t look that good to a new contact if you have to shuffle through ten cards before finding your own, so decide ahead of time where to put them.
* Ladies, if you have no hand baggage or pockets, then put them at the back of your card case, and keep your own cards at the front.

The ladies room

* Women shouldn’t underestimate the power of the ladies room! We all know how much gossip and chit chat goes on in there, so use the time spent refreshing your lipstick or washing your hands to casually chat with others. Keep the conversation casual and non-business oriented if you are the one starting it up.

Record Important Dates and Facts

There are many ways to keep in touch with your network (emails, newsletters, etc) but it’s often useful to note down specific dates and facts about each person. An email on each person’s Birthday is a nice idea, as well as Christmas or Easter cards from your business. You may even like to post or email to your database an amusing or exciting snapshot of something you have achieved or done recently (collecting your business award onstage?).

Write down important facts about the people you meet on the back of their cards, and review these regularly.

For example, you might write: “James lives with his brother Mike, a construction worker who is renovating their home. James loves motor cycles and rides every other weekend, and has bought a new bike.”

Next time you meet or contacts James you have some great conversation starters, like “How are the renovations coming along?” and “How have you been finding the new bike?”

Think Outside the Square

Almost every experience you have in your life is a networking opportunity. Of course, you don’t want to become too obsessed with that fact, but nevertheless, take your cards everywhere! After all, how many times have you bumped into someone at the shopping center, in the queue at the bank, at a friend’s place or at social engagement (party, BBQ)?

‘Networking’ events and regular group meetings (professional associations etc) aren’t the only places to network. Be prepared to meet new people (including possible clients and suppliers) at professional development events (conferences, workshops, training sessions) as well as at exhibitions, trade fairs, in foyers and elevators, and at social functions.

And remember, practice makes perfect!

An introduction to networking

Networking can be difficult when you are just starting out in business; and can be even harder if you’re young – especially if you have little or no experience of dealing with people in a business context, or with people outside your regular social circle. It’s important, however, not to be daunted, as networking is essential for your business success.

Networking is about expanding your circle of professional peeps to include people from a diverse range of fields. Essentially, it’s about meeting people, and meeting people can do a variety of things for your business! Networking can result in finding new staff or contractors; learning of new opportunities, services or market openings; forming a strategic partnership that could result in cost-cutting or more profit for your business; meeting prospective clients; and making new friends.

The best way to start is to think of what kind of networking you are interested in doing. There are so many opportunities out there that it’s often best to get your feet wet by first sorting out what kind of environment you really want to put yourself in. Perhaps you are a young business woman and would prefer to deal with other business women at this stage? Or perhaps you would rather network with people within your specific industry, for example, retail. Or perhaps you are interested in meeting only other young entrepreneurs at this stage?

Once you have selected what opportunities you’d like to explore, then start searching for networking events and groups. Events are usually advertised on websites, in local papers, or contact your local Chamber of Commerce. For more permanent group membership, join your Chamber of Commerce; a social/communication organisation (Rotaract, Zonta, BPW) or the industry or professional association do to with your business.

The Frank Team run networking events specifically for young entrepreneurs – so come along and hang out with people just like you! Check out the members section.

Once you’ve experienced a few events or sessions, you’ll start to hear of others ‘through the network’. It’s also important not to dismiss networking opportunities as irrelevant to your business – you need to remember that whilst not every event will be beneficial, you are never just meeting the people at the event – you are meeting their entire of network of contacts too!

Tips

* Practice your introduction and your 30 second sales pitch of what your business does
* Always take your business card, a pen and your diary. If you don’t have a card – make one!
* Be early to the function, to maximize networking time
* If you go with business partner – split up for the event – and make 2 sets of contacts!
* Remember the personal details of people you meet. One idea is to write a few facts about the person on the back of their card. When you meet them again, use those points for conversation (eg. Sheila grew up in the Hunter Valley. She is in business with her best friend Tammy. She is doing a degree in Design).
* Help people out. If you have no valuable service or product to offer the person you meet, tell them about someone else you know who does. Give out these favours and they will come back to you! Referrals are the language of the networking world!
* Ask open questions, ones that can’t be answered with a simple ‘Yes’ or ‘No’. Who, what, When, Why & How are great openers for questions to start conversation.
* Don’t be afraid to start a conversation – you have nothing to lose! Find someone else standing alone and say “hi”
* Really listen to the person rather than waiting for your turn to speak. That way you can immediately pick up on common links with the person and their business, if any.
* Use current affairs as conversation starters, “Terrible bush fires today, aren’t there?”

How to Source New Opportunities for Your Business

There are many reasons why businesses require ongoing opportunities to come their way. Perhaps the business is ready to expand; maybe the business requires expertise or additional services they are not trained or equipped to provide; or it could be that the business is looking for long-term relationships with potential clients and is happy to spend time with these prospects to develop good relationships.

Finding, creating and making the most of opportunities does not cost wads of money. It is about time, energy & persistence, which you have a heap of we know!

Sourcing New Opportunities

Networking

Networking is a great way to create opportunities for your business. Networking allows you to meet new people, and through them, new organisations. It keeps you up to date with industry trends and in the loop about opportunities your competitors have seized. This is an easy and fun way of keeping your finger on the pulse of opportunity. It is also a great way to encourage the next source of business opportunities, referrals.

Referrals

Referrals can bring in new business for your organisation (and even better – big business and ongoing, repeat business!). Business relationships where trust and loyalty exist are more likely to refer on other people to you, who are in turn more likely to want to establish an ongoing relationship. The easiest way to get referrals is to keep your existing customers happy. This means great service, good prices and going the extra mile on occasion to make sure they get what they want, on time. But all this is expected from a business relationship, so encourage them to talk about you by offering a reward or loyalty scheme; creating awards and competitions; or by simply treating them so well they just have to talk about you (send Christmas cards, ask how they are, send regular evaluations for them to complete about your service, hold social functions or ‘open days’).

Publicity

New business is easily attracted by good publicity, which definitely does not mean any publicity. Get some good quality, accurate media coverage (not advertorial) in a print or broadcast medium that potential clients use. Send regular, newsworthy media releases to your local media, online media in your industry and also to your local Chamber of Commerce.

Get in Front of People

People often like to know the ‘face’ of the organisation they are dealing with, so make an impression for your business by getting out to professional functions. Put a video of yourself on your website. Get on the speaking circuit and become an expert in your field and industry; then speak at conferences, workshops and business functions. If people respect your advice and see you ‘giving it freely’ to your peers at an event (even if you are getting paid), you stand in good stead for picking up some business from your new admirers.

Good old fashioned reading!

Read your local paper, industry publications, emails that come in, business books or websites. You never know where your next idea will come from.

A game a young entrepreneur we know of plays to keep himself alert to new opportunities is he takes all of the emails that come in and he has to think how with each of them(the non-spam ones) he can turn it into an opportunity. Whether it is asking for a meeting, using the information in the email for an idea for an article of your own, suggesting a partnership or forwarding it onto a contact that would find it of interest and use. Try that game for yourself!

The best piece of advice about business opportunities is to be actively looking for them. Opportunities very rarely fall in your lap, and being proactive allows you to be strategic and choosy about who you do business with, as well as when and how often.