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Archive for the ‘Wealthy Bag Lady’ Category

Why
Aren't More Women Running Million Dollar Businesses?

Susan Wilson Solovic, author of The Girls' Guide to Building a
Million-Dollar Business, was the keynote speaker at Women's Small
Business
Expo a few years ago.

Solovic
posed the question, "Why aren't more women running
million-dollar businesses?" Her answer was, "Not thinking big
enough."

I totally agree and so does Sharon Hadary in her recent article in
the Wall Street Journal.

Hadary notes that women have been launching businesses at twice the rate
of men, and their growth rates of employment and
revenue have outpaced the economy.

But despite all this progress, on average, women-owned businesses
are still smaller than their male counterparts. Although the gap has
narrowed, women-owned firms are still only 27% of the average of
male-owned
businesses.

 
Think Bigger

• Invest in yourself and your business
• Hire
  professionals
• Form success teams
• Create compelling
  marketing
• Establish yourself as the expert in your industry
• Become
  a sales superstar
• Embrace change and take more risks

Look

at your pricing and think about raising your rates. That's
right. I said raising your rates, even in a challenging economy. People
will always pay for quality, service and value.

Let's get more
women into the Million Dollar Club.

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On Mother's Day, I Did the Revlon Run/Walk for Women to Honor My "Second Mom", Rhoda Goldie

She lost her battle with cancer on February 4, 2010. The photo on the left is of me at the Revlon Run/Walk. The photo on the right is Rhoda in the 1980s.

Rhoda is my best friend Sheryl's mom. I met her when I was only 13 years old and we both fell in love with each other. She taught me about kindness, hard work, loyalty and compassion. When I wanted to start my Wealthy Bag Lady business, do Women's Small Business Expo and write my book, Bags to Riches, she supported me totally.

I even interviewed her for the book about employee relationships because she inspired the best in people and kept employees loyal to her for over 20 years.

Celebrate Someone Special This Mother's Day

Mothering comes in all forms: friends, teachers, family members and mentors. I've been so blessed in my life to have 2 great moms and I know that Rhoda is still lovingly watching over me. Think of the women in your life who have nurtured you and celebrate them on this very special Mother's Day.

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Black Eyed Peas Know How to Get Sponsors

I've always loved the Black
Eyed Peas. From the first time I heard "Where Is the Love?" I was
hooked.
Not only are the Black Eyed Peas super-talented and great at putting on a show,
they are also the sweethearts of corporate sponsors.

Coors, Levi's, Blackberry, Honda, Apple, Verizon and Pepsi have funded group's
videos, tours and have featured the band members in prominent places.

When Apple was preparing the 2003 launch of the iTunes store, The Peas'
"Hey Mama" became the first song associated with the iconic
campaign's dancing silhouettes, a point of pride for will.i.am, the band's
frontman.

What You Can Learn

The band has always been committed to getting sponsors, using sponsorship
proposals that sum up the Peas' package.

According to will.i.am, "I consider us a brand. A brand always has
stylized proposals, from colors to fonts. Here's our demographic. Here's the
reach. Here's the potential. Here's how the consumer will benefit from the
collaboration."

I love it. This is exactly what I teach people who want to get sponsors. Even
though you may not be a big rock band, you can use these same strategies to get
great corporate sponsors.
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Women's Small Business Expo on April 28 Was a Huge Success

Lots
of networking, success teams, outstanding exhibitors, business-building
presentations and even a Chocolate Party.

Claudia Chan, president of Shecky's told women how to do marketing in the new economy and I gave Million Dollar Sales Secrets.
_________________________________

Here is one of the
raves:

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Radio is not
dead. In fact, it is alive and well.

Here are some ways to make radio work for you.

1. Find Radio
   Opportunities

   You can call the radio shows
   yourself, have someone else make the calls
   or hire a public relations company. You may be dealing with the show
   host or the
   producer. Remember that your initial phone conversation is like an
   audition. Talk
   with passion in your voice. According to Jill Lublin, our
   publicity speaker at Women's Small Business Expo, you should know
   compelling
   statistics about your topic, a problem most people have and how you are
   the
   answer to that problem.

2. Be Prepared

   Find out how
   long the interview will be and the demographics
   of the station. Have your radio introduction and some interview
   questions
   printed and ready to give to the radio host. In the interview, include
   your
   signature story. This story draws people into your talk and keeps them
   captivated. If you go to the radio studio, bring plenty of business
   cards and gifts because there may
   be sister stations in the same building that could also promote you. I
   bring copies of my
   book, Bags to Riches, for the radio host
   and the staff.

3. Track Your Results

   At
   the end of the interview, ask the host if you can give
   away something to the listeners. Then give out your web site and a free
   special
   report, chapter of your book or a gift. This way you can track who has
   been
   listening to your radio interview and capture the leads.

4. Let the World Know

   Don't
   just tell your mother about your radio interview. Get
   the word out to clients, prospective customers, social media fans,
   friends,
   family and colleagues. You can send out your media announcements to get
   speaking engagements, publishing opportunities and even more media.

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You guessed it: Sponsorships.

Corporations
spent millions to attach their brands to the Olympics and Tiger Woods.

But while
the Olympic athletes are up and coming champions, Tiger Woods has a tarnished image and has lost some, but not all of his sponsors.

Benefits from Sponsors

At
one time, Tiger Woods was the rising star of golf. He changed the image of golf
from grandpa in plaid pants to a sport that's young, exciting and accessible to
everyone.

Tiger was
the guy everyone wanted to be like and sponsors were tripping over themselves
to throw lots of money at him. He became the first billion dollar golfer
because of corporate sponsors.

The rising
stars of the Olympics are especially thankful for corporate sponsorships.
Corporate sponsorships provide the bulk of the money for their training, travel
and stipends.

"Without
corporate sponsors, athletes would struggle," speed skater Chad Hedrick
said." Corporate sponsors are key for us to go out and perform the way
that we do. And we're very grateful."

The biggest
Olympic sponsors are McDonalds, Visa, Coca Cola, Omega watches and Acer
computers.

Can You Get Sponsors?

Okay, so you
may not be a world-class athlete, but you can still get fantastic corporate
sponsors that will fund your dreams.

You can
groom your business, events, charity and projects for sponsors by knowing your
demographics, building your database, creating great sponsor benefits and
having a compelling sponsor proposal.

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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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