Web Business Woman

Archive for the ‘Wealthy Bag Lady’ Category

Shark Tank is a
great reality TV show where hopeful entrepreneurs seek financing for their
businesses. The business owners give up equity stake in their company to the
"sharks" who are venture capital investors.

There was the Leslie Haywood, a
stay-at-home mom, who invented Grill Charms. The charms are placed on meats so
that backyard grillers can keep track of who wanted a rare, well-done or spicy
piece of chicken. The sharks actually fought over who could make a deal with
her company. She ended up taking $50,000 for a 25% stake in her fledgling
enterprise.

Here are the top 3 lessons from Shark
Tank:

1. It's about Them, Not about You

   When
   approaching potential investors or sponsors, most people talk incessantly
   about their business, but don't tell the financier the benefits of working
   with their company. You'll be more successful with investors and sponsors if
   you can show them brilliant solutions and compelling benefits.

2. Have a Plan

   You should have a plan for your company, your book, speaking, events,
   projects or your charity. Be prepared to answer questions about your demographics,
   financials, projections, branding and marketing.

3. Show Your Passion

   Sponsors and investors have been swayed by the passion of the person who
   built the company. Create a great presentation and put amazing people on
   your team. Have a compelling story and make an emotional connection with
   your sponsors and clients.
   ______________________________________

By watching Shark Tank, you get a keen
insight into the way that investors and sponsors think.

I'm assigning the show as required viewing
for my clients in the Fast Track Sponsor Coaching program and my students in
the Attracting Corporate Sponsors Teleclass.

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The multi-millionaires that I interviewed for my book, Bags to Riches, believe in smart risk taking.

Here are their top 3 strategies:

1. Calculate the Downside and Upside


When
you get training for skills that will improve your business, such as
sales and marketing, the downside is that you need to invest time and money, but
the upside is that you'll grow your business exponentially.



2. Think of the Long Term Rewards
   The
   decisions you make now will affect the next 12-18 months of your
   business. Don't just look at the short term. Think about your rewards
   for the long term..

3. Don't Listen to the Dream Stealers
   Most
   people
   will tell you not to take risks, but their thoughts are guided
   by emotion and worst-case scenarios. Instead of taking advice from
   these people, get mentored by people who are successful and want to
   play big.

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I'm featured in this month's Speaker Magazine, published by the National Speakers Association (NSA).

Check
out my article called, "And Now a Word from Our Sponsors". It's about
how to increase your revenue, credibility and clients with corporate
sponsors.
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In 1986, Scott Hamilton was fired
from the Ice Capades. He was told that male figure skaters don't attract big
crowds. He thought, "Why don't I create my own ice show?"

The first Stars on Ice tour
started in five cities. Now it tours in fifty-five cities.

Now Scott Hamilton is one of the
most popular and successful skaters in the world. He was inducted into the
United States Olympic Hall of Fame and he still performs to cheering crowds.

Stars on Ice has become one of
the most successful, beautiful and innovative ice shows in the world.

Sponsors

Stars on Ice is also a great
example of sponsorship. The skating tour has been sponsored by Discover Card,
Target, and Smuckers.

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Drum roll please…

I made the list of WE Magazine's 101 Women Bloggers to Watch in 2010.

I'm so honored to be the one to give advice on business and sponsor success.

It's such an honor to be included with such great and inspiring women.

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1. Cause-Related Marketing

People
feel good about buying from companies that give back to the community.
Cause-related marketing is all about how companies are giving to charities.

The
recent Subaru Share the Love event had car purchasers choose one of 5 charities
including ASPCA, Habitat for Humanity, Meals on Wheels, National Wildlife
Federation and the Boys and Girls Clubs. Now you can buy anything from cookies
to cars and feel good about it.

2. Conversations vs Advertising

   To be successful, businesses need to have
   two-way conversations as opposed to doing one-way advertising. Businesses need to champion collaboration
   instead of an "us and them" mentality.

   Just check out Zappos as a
   great example of being customer-centric. They listen to customers and foster an
   atmosphere of transparency. With collaboration, you'll also attract great
   people. Zappos is also one of the most desirable companies to work for and it
   attracts top talent.

3. Sponsors Funding Real People

   With the recent implosion of the Tiger Woods
   brand, corporate sponsors will be thinking differently about where they put their sponsor
   dollars. Instead of mega-celebrities, sponsors will be giving more money to
   real people like you with strong core values.

   Make no mistake about it. We are entering the age of over-deliver. Your sponsorship proposal needs to be a Win-Win-Win
   for everyone. Companies need to do marketing and sponsorship represents great
   opportunity for you.

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What's the Best Business Book Ever?

Surprise, It's a Novel: A Woman of Substance by Barbara Taylor Bradford

When I read this book, I was young and impressionable, working in a showroom at the Pacific Design Center in Los Angeles. I had dreams of starting my own business, but didn't know how.

Emma Harte was a poor uneducated servant girl who was left pregnant at 15. Despite the odds against her, she became a billionaire business owner. Her story inspired me to take risks in my own life and go for my dreams despite the obstacles.

I know it's not the typical business book in everybody's library, but the Emma's story is so captivating that I put it on the top of my business book list.

I celebrate the 30th anniversary of a rich tale that inspired me and countless women to live their passionate lives and do it bravely.

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Me and Jim Rohn at Women's Small Business Expo in 2005

Jim Rohn, the America's Business Philosopher, died on December 5, 2009. I had him as my keynote speaker at Women's Small Business Expo in 2005.

He was wise, funny, and full of amazing knowledge. The women business owners hung on his every word and couldn't wait to get their books signed and have their photos taken with him.

His teachings have had a huge impact on my life and I wanted to share some of my favorite quotes from Jim Rohn:

“Formal
education will make you a living; self-education will make you a fortune.”

“If you
don't design your own life plan, chances are you'll fall into someone else's
plan. And guess what they have planned for you? Not much.”

“Success is
not to be pursued; it is to be attracted by the person you become.”

Jim Rohn inspired so many people and I was honored to have him speak at Women's Small Business Expo. He will be deeply missed.

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Tiger Woods’ sponsors lined up to back him yesterday after the golfer’s
admission that he had committed “transgressions” against his wife, Elin Nordegren and his family.

Sponsors Include Nike, Gatorade and Gillette

Major brands including Nike, Gillette and Gatorade said that their sponsorship
deals, which net Woods about $100 million a year, remained unchanged.

Gillette said that it had no plans to change its marketing program.

Gillette is experienced at dealing with the blushes of its spokesmen. In 2004
the men’s grooming brand signed David Beckham to a three-year sponsorship
deal just days after stories about the footballer’s alleged affair with his
personal assistant Rebecca Loos.

Yesterday TLC Laser Eye Centers and NetJets, a private jet hire company, also
said that they continued to support Woods.

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