Begin with the End...

You would be surprised how many times I have asked professionals and entrepreneurs where they saw themselves in 3 to 5 years and the answer is "I don't know". This should not be the case and truly it doesn't have to be. If you Begin your endeavors with the End in mind it can make a world of difference. What exactly does that mean? Most often people do what is expected of them not what they expect of themselves. This will lead to many unfulfilled dreams and unaccomplished goals.

How do you get what you want in life? You first must decide what you want. I know that may sound simple and a little obvious but if you take five minutes right now to explore that you will see that it's not as easy as it may sound. Go ahead, I will see you in five minutes!

Welcome Back.

If you truly looked inside yourself to find out what you want, I bet you were a little frustrated, confused and lost afterwards. I understand why though because it's not as easy as saying, I want money, I want fame, I want respect or I want power. Those things are really the result of you getting what you want often. Meaning what you want should produce money, power, fame or respect. But how Dammit?

Begin with the end in mind. For instance, your end may be getting a book published, your end may be to open 3 stores in the next three years, maybe your end is to be CEO of the company you currently work for or just maybe you want to downgrade your ambition and become a master of some craft or art. Whatever your end may be, it should be at the beginning of each of your days.
It should also be how you begin any planning sessions.

It's much easier to get to your destination if you know where it is. If you had a daily goals list with your ultimate end at the top you would be surprised how much closer you would get everyday. Trust me on this Think End not someone elses end but yours and focus on that daily and meet me at the top!

Make Money, Have Fun & Be A Blessing,
Maestro

Mac vs. PC

The fight began many years ago and if you want to know the history I recommend the movie Pirates of Silicon Valley. The result was Apple creating for the arts and entertainment community and Microsoft taking over everything else (to include the world). With this separation came two types of computer owners, those that were creative and those who were business minded, what a shame. I believe I was probably the only student in the school of business at my college that had a Apple computer a little over ten years ago. My, how times have changed and you should considered a change too!

I won't bother explaining all the things that can be done on a PC because they are the majority of computers sold today and they are so standard that most of you understand them completely. What many of you may not be aware of though is the ability to run your business or fit into just about any business environment with a Mac computer.

Yes, with all the applications that are web based, as well as, the growth of Apple over the past five or six years, it is possible to run your business in a complete or partial Apple environment. You may be asking why this is even important. Well, the business world has changed and no longer can we afford to be on one side or the other. We must be both creative and business minded. We must use the many forms of multimedia available, as well as, crunch the numbers. The expectations have changed and Apple has promised to deliver equipment and software that will give you the edge in business.

I say just keep an open mind and visit a Apple store to see how they may be able to enhance your business practices. If you are still not convinced you can at least appreciate the pretty cool commercials.


Make Money, Have Fun & Be A Blessing,
Maestro

Tis the Season!

With the holiday's fast approaching, so to are the office parties, house parties and special dinners. As, a professional with class, don't be caught arriving empty handed. In order to be well prepared you must start now thinking of gifts that say "Thanks for inviting me" without making the host feel they have to repay you somehow.

So, what are your options here? I like to think in bulk. Cases of wine, boxes of fine cigars, fancy pens or music. By purchasing a case of wine you will never be left empty handed when you are invited at the last minute to that holiday dinner at your bosses house. You may get nasty looks from your jealous co-workers on Monday but at least your boss will be impressed that you didn't just come and freeload for the evening like the rest of them.

The best part about the above suggestions is that their are simple ways to customize them all. You can have wine bottles engraved with a special holiday note or even get custom labels done. With cigars you can have them boxed individually with hand written notes tucked in the box, same with pens. As far as music you can compile a play list of your favorite holiday tunes and make cd's with custom labels and cases, now I am not suggesting piracy here, simply holiday sharing!

Hey, maybe I don't have the best gift suggestions but it's the thought that counts right. So, start thinking about those thoughts that will turn into gifts that will be described as it's the thought that counts! Huh? Happy Soon to be Holidays!

Make Money, Have Fun & Be A Blessing,
Maestro

The Art of Prospecting!

When you mention prospecting to most professionals who are in sales (and we all are in sales) the first thing you get is a cringe, sigh or a run in the other direction but it doesn't have to be that way. The secret to sales is the realization that somebody out there wants what you have to offer, believe it or not! The only thing you have to do is find them.

There are a number of ways to find people who are your prospects. You can cold-call, send mailers, go door to door, run advertisements or send smoke signals but the idea is to make contact. For my business I only consider telephone or face to face encounters prospecting but for you mailers or something else may be the most effective. With all these different ways to meet potential clients why don't more people prospect?

The reason most people hate prospecting is because they hate rejection! Don't get me wrong I hate rejection to, as a matter of fact I don't know one person who enjoys being rejected. So, how then do you make it an art? Actually, it only happens with a little science. Yes, science can help you get over your emotional withdrawal due to prospecting. Here's how.

First you must believe that what you are selling is a worthy product or service. Next you have to chose your market. Then, it's important to figure out on average how many people you have to talk to before you get a Yes. Now you need to figure out how many yeses you must get to meet your goals. The last thing you must do is just make contact with your average number of people as often as you can with out concern with what their answers are but more concern with the activity.

Basically, you must detach yourself from the outcome and just go through the process. That is exactly what I do after I have positioned my offer. I start smiling and dialing mostly referrals at this point in my career but sometimes the projects I work on still require some cold calling believe it or not. If you have to talk to 10, 20, 30 or 40 people to get one yes then just make the calls. Hell, if it took 100 calls and the return was worth it I would make the calls with no hesitation. If you have to do the same you should be willing as well, it's all a numbers game anyway.

If I sat you in a room with a magic slot machine and told you that every 1000th time you pulled the slot lever the machine would spit out $1000.00, how many times a day would you pull that lever?1000, 2000, 5000, I bet you would pull that thing as many time as you could in a 24 hour period. How many calls must you make in order to produce $1000.00 for yourself? Well, just think if you did that three times a week every week how much different would your life be?

Empower Yourself, Make the Calls!

Make Money, Have Fun & Be A Blessing,
Maestro

Entrepreneur? Part 3 of 3

Implementation or action is the last part of this three part series and yes, I did save the best for last. I sometimes feel bad when I have had a long heart felt talk with a business owner, given them the best advice I could come up with and they leave feeling pumped up, only to have trouble implementing the new ideas.

The implementation is the most important piece of this puzzle called entrepreneurship, or better yet the push pins in your big “B” journey map. So, how do you move effectively forward with the plan? The answer is actually very simple, like Nike says, Just Do It! I don’t have time, I don’t have the knowledge, I don’t have the education, and I don’t have the right color tie!

Honestly , you can find any excuse for anything but the reality is you can never move forward unless taking a step is the most important thing to you at that moment. You can’t blame anyone but yourself. You must have the attitude that you won’t be denied progress, you won’t let anyone stand in your way and if you don’t get the help you need at one rest stop along the way you will keep going until you find the help.

What is a good excuse? No excuse is a good excuse if it stands in the way of your success. I mean that and I cannot let you off the hook here, there is to much at stake. I need you to be successful in your pursuits because that not only encourages me, it also encourages those around you and in the minority business community success is a little hard to come by.

You can never plant a garden from your sofa, you have to get your hands dirty and just like that garden you can’t grow a business while laying in your bed you have to get up and get to work. Work on everything that can be worked on for your business, leave no stone unturned. Touch every square inch of the business and insist that your team play their parts. No excuses and if they don’t feel the same way, find someone who will, FAST!

Work diligently, work daily and work deliberately at all things related to your business and let all the haters and naysayers make the excuses, while you run your business straight to the top! See you there, Winners!

Make Money, Have Fun & Be A Blessing,
Maestro

Entrepreneur? Part 2 of 3

How do we start the process of creating the business of your dreams? It's just like creating a road map to a vacation destination. You first find out where you are, then you find out where you want to go and last you map out the best route to get there, understanding there may be some detours along the way.

You must first establish your core competency . What are you in business to offer? What is it that people are going to part with their hard earned money for? What is it that you do as good or better then most? Is it the best value, best price, best quality? What is your core competency?

Now that you know what you are selling, let's make it clear and concise enough that everyone can understands. Example, I sell quality life and disability insurance that can be upgraded over the entire careers of recent graduates of medical school, might be your offering. This is an important piece so please take time to put together something you can be very proud of for quite some time.

Now that you know what you will be delivering to your customers you must tell the story. Tell it to everyone that matters. Who matters may be your question. This is where the separation begins between Mom & Pop/ Sole proprietorship's and Corporations/LLC's or what I will refer to as little "b" and big "B" respectively. Little "b's" start and generally continue their journey alone, while big "B's" start to tell their stories to investors, bankers, friends, family, just about anyone who will listen and come along for the ride.

What is the purpose of telling so many people your business? You need buy in for long term success, is the reason. You have to visit each of these places along your journey:

1. Raise Money or Capitalize the business
2. Build a board of directors
3. Put business policy in place
4. Create a strong Brand
5. Market your Brand.

This all takes man hours, talent and if that isn't clear A LOT OF HELP! So stop trying to do it all by yourself, allow others to help you get to your destination and let them benefit from the success of the business. The great thing about the big "B" journey is that whenever you run into obstacles or road blocks in your journey you will have enough minds with a vested interest in your success, to come up with a solution. We will explore this more tomorrow.

Make Money, Have Fun & Be A Blessing,
Maestro

Entrepreneur? Part 1 of 3

My major in college was entrepreneurial studies. It was a new major for our school but quite popular. As a matter of fact my business partner was the first graduate and I was the second. We spent a great deal of time on case studies, business plan development and corporate analysis. I figured I was in pretty good shape to handle businesses of all different kinds as long as they were entrepreneurial in essence. Little did I know I was in for a rude awaking.

What does the word entrepreneur really mean? Well, it describes a person of vision and desire, who’s unafraid to take risk for the chance at business success. A person or group of people who create a business. The funny thing is many people who call themselves entrepreneurs have little resemblance to the ones I studied in college.

What is the problem? Well, what I have seen a lot out here on the business front is people who really want rewards with little effort or those with efforts that outweigh their rewards. I constantly run into that unbalanced business that wears the owners down or makes them quit.

A person once told me that success was when small efforts produced large results and when large efforts produced small results it was time to abandoned ship. Yes, there are exceptions to every rule and that is the case in this situation as well but it’s a good rule of thumb.

So, how do you know when you have become an entrepreneur on the road to success? The first thing you must ask yourself is, am I building a company, a business or have I created a job for myself? Self employment is OK for some people but that should not be the overall goal of an entrepreneur. An entrepreneur should be looking to create a business that works when he or she is not there operating it.

This weekend I will touch on some of the main steps to establishing a good track for you to develop the ultimate business. The type of business that can attract investors, the type of business with a corporate image and the type of business where small efforts produce tremendous results, stay tuned!

Make Money, Have Fun & Be A Blessing,
Maestro

Jena 6

Here we stand, this 20th day of September in the year of 2007 still divided by the color of our skin! After years of what seemed to be calm complacency, pressure in our cooker was rising. Yeah, we could have rallied for any number of injustices we have witnessed over the past however many years but we didn't. The Jena 6 was destined to be our calling card. The one thing that unified us if only but for one day, but who says it has to stop there?

I look around and see injustice everyday. When was the last time you thought of a police officer as an employee whose job it is to protect and serve? When was the last time a white company had to obtain some sort of certification or stamp of approval before they could get a contract? When was the last time anyone other than a white man ran this country?

Yes, I know the police have a tough job, yes, I know the white company has always done business that way and yes, I know we have both a woman and a black man running for the office of President right now but it still doesn't change the fact that we (the minority population) don't feel we can get a fair break in the U.S.

It took the injustice that happened to those six kids in the little town of Jena to wake up a nation that had fallen asleep while on cruise control. The kids surely were charged more severely than they should have been but how many Jena 6 situations are going on in this country everyday. What a wake up call this is for all those who may have felt we arrived. The struggle continues and we can not rest if we want the world that our kid's grand kids live in to be better then today's world.

I can't ignore the progress we have made over the past 50 years but situations like the Jena 6 remind me how far we still have to go. These problems cross over legal, business, sports, education and general opportunity lines. We must work hard daily to unite our efforts and continue to learn about and celebrate each others cultures so they become less of a boundary and more a draw toward enlightenment. Let's Talk Business - Let's Talk Diversity - Let's Talk Equality - Let's Talk Justice, Let's Talk Action!

Make Money, Have Fun & Be A Blessing,
Maestro

Be Here, Be Now!

The world is full of distractions and in business distractions cost. Distractions can cost in time and money, and let's face it time freedom and money freedom are what we all really want more then anything. So, in this multitasking society how do we focus when necessary. Well, I try very hard to Be Here, Be Now!

What Be Here, Be Now really means is to be in the moment whenever you are putting time into a task. I remember, back in my financial planning days, having a meeting with this young couple looking for some guidance. They both made above average incomes and were fairly successful with great upside potential. Sounds like the perfect meeting right, Wrong!

From the time they stepped into my office one distraction after the other. Her phone would ring, she would answer, his phone would ring and he would leave the room, despite the fact that I asked that all phones be silenced during our meeting. It happened a couple more times until I just told them that I didn't think they had enough focus on our meeting for me to help them. They couldn't Be Here, Be Now! Can you?

Can you be of one meeting? Can you focus on a task until it is complete? Can you make the person in front of you feel like they are the most important people on earth? If you can't then you may want to start. How many times have you gone into a store and been ignored and although your intentions were to purchase something you left out empty handed? Have you ever visited the doctors office tried to explain to the doctor your problem while he just starts writing you a prescription darn near before the examine?

It's easy to do and very costly but I must admit this is something I struggle with often and must work on daily. I should use my time in the car with my kids to talk to them but I often drive, talk on the phone and transport the kids, wasting valuable quality time with them. I need to Be Here, Be Now more often because every moment can be precious if I decide for it to be. Now, I have to go, my phone is ringing. What? I said I would work on it! Be Here, Be Now!

Make Money, Have Fun & Be A Blessing,
Maestro

A Bird in the Hand....

There is an old saying I have heard all my life and until I became a business owner I really didn't have any practical application to the phrase. There are many variations to this phrase but the most common is "A Bird in the Hand is worth Two in the Bush". I asked John Brooks a realtor with Long and Foster and member of the Minority Business Alliance of Virginia (MBAVA) how he thought the phrase applied to business.

Well, the saying really applies to risk, which you take in business anyway, said John. He also said, If you don't want to take chances then the statement is true. I ask the question, how do you grow if you don't take chances? Maybe the statement is best used in a checklist of other decision making criteria. For instance if you are selling your home for $300k and you get a solid offer for $295k should you take the offer? Well, there just isn't enough information to make that decision. What is the market like? How many other offers have you gotten? How bad do you need to sell?.....etc.

In the above example it is true A bird in the Hand is worth Two in the Bush but the story doesn't end there. John Brooks advises not to take fools chances. "If the two Birds in the Bush are clearly Dead then keep your Bird in the Hand". I personally believe sometimes you must let the bird in hand go to try to obtain success. I think that's life, you don't progress otherwise, sometimes even a sure thing isn't a sure thing, you know, says Mr. Brooks.

Make Money, Have Fun & Be A Blessing,
Maestro

For All Your Residential Real Estate Needs
Contact John Brooks with Long & Foster
Just Click His Picture

What Do You Do?

You ever heard the saying, Jack of all trades, Master of none? Who is more valuable to their community, the Jack or the Master? The Jack is probably more valuable but the Master is probably more wealthy. Why you might ask? There are a number of reasons why this happens but the easiest way to sum it up is by saying everyone knows what the Master does, while no one knows what the Jack does not do! OK, maybe that is not as simple as I thought but bare with me on this one.

You see, business is about generating revenue and if you will do just about anything to generate revenue how do you market yourself and who do you market yourself to? Jack may be able to help a great deal of people or companies but until he chooses a niche he will go through life quite the journeyman. On the other hand the Master not only knows what he can do but more importantly knows what he cannot do. It is really easy to send business to Master and often the pre-screening has already been done.

Are you Jack or Master? Do people know what you do or do they think you can do anything? If you are Jack there is still hope but you have to start immediately before your neighbor ask you to change their oil, build them a shed or do their taxes.

5 Steps to Recovery from Jackofalltradesitis:

1. Decide what it is you are best at and pursue it with all vigor!
2. Tell everyone what you are working to become a Master at!
3. Put only that pursuit on your marketing material!
4. Say no to anything that falls outside of your new focus!
5. Ask your Business Team(yesterday's blog entry) to help keep you on the wagon!

This may not be as scientific as you would like but if it keeps you from installing screen doors on the weekend and being a banker during the week then I have done my job. Give it a try I know you will see instant results.

Make Money, Have Fun & Be A Blessing,
Maestro

Art Courtesy of Patrick Turner "Jack of All Trades" visit his site by Clicking Here.

Game Time, Who is on Your Team?

It's the most wonderful time of the year. No, not Christmas(Although I love that season), it's Football Season. The best part of football to me is the team effort required for success. Yeah, there are always the standouts but even the great quarterbacks, receivers, and linebackers would not be able to do anything without their teammates playing their part. You know, that is a lot like business.

To make sure you can achieve success in your business endeavors, you should consider building a business team to manage your business affairs. For some reason this is seems to be a problem for many cultures that make up the minority population. Maybe it's privacy, embarrassment or lack of knowledge but we have to do better and this is how.

First and foremost you should view yourself as the quarterback of your team and you must play your position. As the leader your goal is to build a team that will help you grow your Assets, add more streams of Income, shrink your Liabilities and reduce your expenses. You will also need a coach. Some people can play quarterback and coach but if you know that is not you then find a coach.

So, who are some of these professionals you should be looking for? Let's start with the Coach or Business Manager. This is a person who knows your dreams and desires, understands your situation and has the playbook and roster. the business manager should have a great understanding of general business and the different business professionals duties. This person can cost as little as $50/month and as much as $5,000/month but you should definitely be able to find someone in your price range.

Next the quarterback and coach should create a plan and add the necessary team members. An investment advisor to grow the assets, a real estate agent to add rental income to your portfolio, a banker to consolidate your liabilities and a CPA to reduce your tax expense. Sounds simple right, well it can be once the team is put together but it takes a while to find trusted professionals that are competent and manageable.

There are other professionals that may be necessary to your success as well. A lawyer, life insurance agent, property and casualty insurance agent, career agent, mortgage lender and many others depending on your goals. The point is you need to put your team together and keep them all on the same page to accomplish your goals. As you attend different networking mixers be on the lookout for team members or new recruits. Have a great week!

Make Money, Have Fun & Be A Blessing,
Maestro

The Best Marketing Tool in the World

One of my favorite things to do in life is to speak to business people and entrepreneurs who are excited about their work. As I listen to them talk about the intimate details of their work, I always ask what it is they love most and what it is they find most difficult. Well, as you might imagine the answers for the first question are as numerous as the businesses themselves. Without fail the thing they find most difficult is generating new customers/clients.

I like to refer to this as revenue enhancement, also known as marketing. The absolute best form of marketing is word of mouth. There is nothing that can generate more business and loyalty the way a warm referral from someone can. The great thing about this is it is largely in your control.

When you offer great products and services, it is your right or privilege to ask for referrals but most people never do. This is a big mistake. Why let a satisfied patron leave you without giving them instructions on how they can help you to grow? You should tell them what you want them to say and who they should be saying it to.

This is an example of what you could say to generate more referrals. Thank you for visiting us, how was your experience? Great, well since you enjoyed your experience so much please give this discount card to your family and friends and invite them to call us, so we can deliver to them the same experience.

Make the most out of every encounter with your patrons and you well be sure to get more, often! For more info on referrals Click Here. Happy Saturday!

Make Money, Have Fun & Be A Blessing,
Maestro

This Weekend in Hampton Roads

If you are looking for something to do this weekend and want to support a minority business at the same time, then come out to the Hunt Club Farm in Virginia Beach, Saturday, 15th from 12 to 6pm. Amazin Wings will be defending their title as People's Choice Champions! The owner is Lynne Delaney a member of the Minority Business Alliance of Virginia and she would love to have your support tomorrow and everyday at her Chesapeake Square Mall location.

With $10 paid admission to this event you get all you can eat wings along with live music and just a good time! So come on out and bring the whole family its sure to be a blast and remember to vote for Amazin Wings! For more information visit this site http://www.huntclubfarm.com/2007warofwings.htm


Also happening in Hampton Roads this weekend is the Neptune Wine Festival. Sip, savor and purchase wines from the Old Dominion's leading vineyards in an oceanfront setting. Food, live music and specialty vendors will also be a part of the event. A celebration of Virginia s finest wines, along with food and musical entertainment, all at Neptune's Park. Visit www.neptunefestival.com for more information. Celebrations will continue on Saturday with Against All Odds and Sunday with Hanover Fist from 7pm - 11pm both nights.

So there you have it, two great choices for the weekend. Have a great one!

Make Money, Have Fun & Be A Blessing,
Maestro

The Sport of Business

In 1998 when I was about to graduate from college, I spent some time over lunch with one of my professors, trying to get some last minute tips before I stepped out into the business world. He said to me, " The single best purchase you can make going into the business world is a set of golf clubs". So, I went to Walmart and purchased my first set of clubs complete with woods, irons and bag, for the great price of $99.99. Now, I had no ideas of grandeur, thinking I might become the next Tiger Woods or even close but I did start using my clubs immediately at the driving range.

Soon after my graduation I started my career as a banker and almost immediately I was asked by my boss to play in a golf tournament. Of course, I quickly accepted the opportunity and looked forward to my first official tournament. My joy quickly turned to anxiety when I realized not only had I never played in a tournament but I had never even played a round of golf and judging by my driving range performance I was about to make a complete fool of myself, in front of the boss!

Needless to say, I went to the driving range everyday up to the date of the tournament, approximately 4 days, from the acceptance of my execution and I honestly think I got worst over that time! On the day of my tournament, I certainly would have won a best dressed contest but this was no fashion show, this was serious golf with the boss and I was horrible at the game. Naturally, when it was time to tee off I elected to go last in hopes that I could pick up some last minute pointers from the boss or the other two golfers.

Golfer number one had his tee shot sucked up by the woods to the right, golfer number two into the water about 100 yards to the left, golfer number three(My Boss) straight shot right down the middle about 20 yards. What? My boss 20 yards, I can't believe it but it was true. I had discovered the best thing about the Sport of Business. The best thing about golf is that almost everyone is bad no matter how long they have been playing (by the way my boss had been playing for more than 20 years).

So, what's the point of my story? The point is, if you wait until you are half as good as Tiger before you pick up golf, you will never play golf. If you never play the sport of business, you may seriously impair your chances of success in business, more so then being a bad golfer would. Besides all of that golf is just so darn fun and you all know how I feel about Having Fun! Oh yeah, my tee shot started off beautiful and long then made a strong right turn into the woods, a terrible splice that I continue to work on to this day!

Make Money, Have Fun & Be A Blessing,
Maestro

Positively Successful!

Becoming a successful business person is hard work at best and as a minority in this country you may have a few more hurdles to jump to reach that goal but countless examples show us that it is indeed possible. So what is the one of the biggest things that separate successful business people from the unsuccessful? Attitude, and not just your attitude either. No, it is your attitude and the attitudes of the people you surround yourself with.

If you are a positive optimistic person but all the people that you have around you are negative pessimistic people then how can you ever reach your goal of success. Those negative people will always find a way to rain on your parade and enjoy doing so too! I have seen it time and time again, and even experience it on occasion. Don't let them rob you of the success you deserve!

When you run across negative people or you see yourself becoming negative don't take it lightly. You must seek and destroy or either remove the elements form your life immediately. There is nothing more cancerous to a healthy dream and goal of success then negativity floating around in the air.

Attitude is absolutely a choice and you can choose to find the negative in every situation or the positive in the situations. If success is the goal the become positively successful and surround yourself with positively successful people too.

Make Money, Have Fun & Be A Blessing,
Maestro

How to Work Your Net!

I have been in the so called business world for many years now. I can not tell you how many networking meetings I have been to but they have always been pretty hit or miss. Some were productive and most seemed to be a complete waste of time. How is that? You have a room full of business people in one room with the same mission in mind (supposedly) and you could walk away without having advanced your career or business at all. Well part of the problem with networking is the approach that participants and organizers take.

If I went through the telephone book and randomly picked people and businesses out, then invited them all out for cocktails, what would be the result. Many would not show up, those that came may mingle with other guest and others would have no clue why they were there or what they were supposed to be doing. That's kind of how the networking functions that I have been to over the years have worked.

The way to avoid wasting your time with networking events is to have a plan. First you must create or plug into a net, then work that net and only participate in events that advance the net you are working. I know that may sound a little self-serving but it actually is a much better approach for everyone involved because the surf shop owner is not wasting the time of the manager of the local poultry plant and vice-versa.

So, how do you find a more effective networking functions to attend? Unfortunately, there are not a lot of them out here but you could always create your own. Also, the Minority Business Alliance of Virginia will begin hosting Niche Mix Events starting in October of 2007. These events will focus of specific industries or themes, so you know what you are getting into before you ever show up. There will be Real Estate Mixers, Restaurant Mixers, Health Care Mixers, and many more! So if you have any suggestions please drop me a comment and I will work on bringing that to the table as well.

Make Money, Have Fun & Be A Blessing,
Maestro

Where is the Disconnect?

I am sometimes told by those who have the power to award contracts in Virginia and many of its localities " You know I would love to award more contracts to minority companies but we just can't find any with the right credentials!". To that I say a big emphatic Bull Crap!

For the 2006-2008 biennium, total state resources available for appropriation in Virginia are projected to equal $78.7 billion of which over $3 billion is slated for capital improvements. Here is the real kicker, of all contracts awarded to companies for products and services less then 1% goes to minority business. That means that 99% of the $3 billion go to white companies. The funny thing is minorities make up more then a 1/3 of the population. The disparity is absolutely astonishing.

I speak to minority business owners daily and the theme is always the same they can't get the good contracts consistently that would allow them to grow and stay at capacity. So it seems the business owners are looking for procurement opportunities and procurement directors are "looking" for minority businesses, Where is the disconnect?

I say the disconnect only exist because we (minorities) have allowed it! We have become complacent to the point that we don't feel we are entitled to our fair share. Let's not continue to leave $100 billion + on the table! Let's go get it, its ours and I pledge to do all I can to help make this a reality. The Energy of Diversity - The Power of Business!

Make Money, Have Fun & Be A Blessing,
Maestro

Business 101

Happy Sunday everyone! Although this day marks the end of the weekend for most people, for me and many business people I know, Sunday marks the beginning of the work week! As a personal ritual of mine I use Sunday as a back to basics day for me and I would like to share with you those basics that offer the foundation for all my business decisions.

Business is simply Assets, Liabilities, Income and Expenses, all else is just commentary(some commentary is good though, ie. This Blog). When you look at the different decisions you must make as a business person on a daily basis, how do you make these decision? Well let me quickly explain how this can be done consistently for life!

You must first be able to distinguish true assets from liabilities. Business 101 in college teaches us that an Asset is defined by its ability to produce income and a liability on the flip side produces expenses. So yes, if it cost you money rather then make you money it’s a liability, but not all liabilities are bad. Your personal residence is a liability(albeit a good one)to you and an asset to the bank. It’s and expense to you and provides income for the bank. The only way for you to convert it to an asset is to sell it! Not to beat a dead horse but just take a moment to look at all the things that make you money and all the things that cost you.

Ok, now that you are thoroughly depressed, time to map out your work week. Your weekly goals you be to increase or work toward increasing your assets and decrease your liabilities. The more assets the more streams of income while the more liabilities, well you get the point.

This sounds very simple but often what happens is we spend so much time managing or maintaining our assets and liabilities, we never get around to increasing the number of streams of income and decreasing the number of expenses. Don’t let this happen to you any longer! From this day forward start your week right with a “By any means necessary” plan to change you life daily.

Be like a predator in search of prey, a hunter in search of game, a pirate in search of booty! Find opportunities to acquire assets and opportunities to offload those liabilities! Build that business team that will help make it happen for you, let your weekly meetings have new purpose and get ready to do it all over again each week. See you at the Top!

Make Money, Have Fun & Be A Blessing,
Maestro

What's in a Brand?

A brand is a representation of a business or business person's offerings. Put another way by, Wikipedia, the online reference sight, a brand, logo, slogan, and/or design scheme associated with a product or service.

So what? Well to be quite honest in business your brand is everything, very similar to an individuals character. It can take a lifetime to build and once it's established you must do everything in your power to protect it.

For instance if I said "Chicken 'n Waffles" to most people, they would respond "Roscoe's"? Even though they may have never been there, the brand is strong and synonymous with great chicken and waffles.

With so many choices available for just about anything you could possibly desire in life, brands help us cut to the chase. Brands also allow us to trust products or services that would normally require a bit of research. The funny thing about brands though is that all the symbols and slogans, colors and sounds can do just as much to help people recognize what not to buy as it can to help people recognize what they want to purchase.

You must always start with a quality product or service at a fair price and use that to establish then grow your brand! I will explain how this is done in a later Blog entry but I thought I should show why brand creation is important first.

As you create that Brand/Business of your dreams watch how your customers/clients will refer others to you and practically beg you for the opportunity to advertise for you. Don't believe me? Well tell me this, did the last pair of sneakers you wore have the companies logo on the outside or the inside? T-shirt? Purse? You wore those Brands and wore them proudly and will more then like buy and wear those same brands again!

Bottom line is that it is about loyalty, getting a customer or client and keeping them for life. Ultimately, this leads to higher sales and higher sales means more income in just about every good business model. So use Roscoe's Home of Chicken 'n Waffles as a great example of what you can do to build a strong brand or maybe some other brand that you know and love!

Make Money, Have Fun & Be A Blessing,
Maestro

Do You! by Russell Simmons

I just finished this book by Russell Simmons and I have to admit I was originally a little apprehensive about reading it. You see, although I am a product of the Hip Hop Generation, as an adult I have found it increasingly hard to identify with the culture I loved so much as a young man.

Russell is often referred to as the "God-Father of Hip-Hop", and because my relationship with Hip Hop has been a little strained, I wasn't sure if I would connect with this book. I am proud to say, I was dead wrong, and honestly this BLOG is a direct result of the inspiration I received from reading this very important book!

I know you are probably saying Hip-Hop, Important, Russell Simmons, what does any of this have to do with the Minority Business Alliance of Virginia. All I can say is, if you approach this book with an open mind, you will definitely walk away not just a better businessman or businesswoman but absolutely a better human being!

12 Laws to Access the Power in You to Achieve Happiness and Success, "Do You!", is not a step by step approach to business success but more so a call to becoming more enlightened, as well as, excepting who you are and working to constantly better yourself. Many people may not like the spiritual over tones of this book, but I found them quite refreshing and thought provoking!

Whether you agree with Russell or not, I guarantee that you will have a new found respect for him and most importantly for yourself after reading this book. So pick it up this weekend if you are looking for a weekend read. After you read it be sure to drop me a comment.

Make Money, Have Fun & Be A Blessing,

Maestro

Starbucks, it's more than Coffee & you are more than your Product or Service!

I have long sense said that people, as well as companies, part with their hard earned cash for one of two reasons and if you happen to offer both then you my friend have an addictive experience, the business persons paradise!

So, what are these reasons that cause customers or clients to empty their pockets for you? The answer to that question is simple. People want (1) solutions to their problems and/or (2) good feelings!

Starbucks offers them both to their customers day in and day out, and manage to be very profitable, too. They have created a rather addictive experience with their business model. They certainly solve a problem (the need for caffeine) and the environment(rich, quality enhanced by eclectic music and furniture) in which they do this creates wonderfully good feelings.

The next time you are near a Starbucks drop in for more than a Grande Skinny Iced White Chocolate No Whip Mocha. Observe what they are really offering and maybe borrow some of their ideas to incorporate into your own business or career! Maybe the unique experience you offer your customers/clients can be enhanced to create a more profitable business or promotion in your career.

Make Money, Have Fun & Be A Blessing,

Maestro

Welcome Minority Business Leaders of VA!

It is with great pleasure that I post this first blog for the Minority Business Alliance of Virginia. The MBAVA was created to engage the minority business community of VA on one common platform. The goal quite simply is to connect our members with business opportunities. The MBAVA is where "The Energy of Diversity meets The Power of Business"!

We look forward to providing you with wonderful resources for the success of your business endeavors. Whether you are an entrepreneur or business professional, procurement director or diversity manager, business student or precollege business club, we have something for you.

So, check back often for helpful insights, resources, the latest news and upcoming events!

Make Money, Have Fun & Be A Blessing!
Maestro