Tuesday, February 9, 2010


What's Crack'n Peoples!

1st I'd like to thank my friends & Special guests who joined me & Money Mike on this weeks "Money & Music Show" "Mary Nicholes" CEO of Fusebox Radio & Black Radio is Back etc, Tam Tam CEO - Big Image World Wide & Director of RW record Pool, J- Milly Director of IDJ Record Pool & CEO of Hustle N Grind Radio, Nexplicable P - CEO of Firefly Publishing and the XPlicable Radio Show & Africa Allah - CEO of DI RADIO CAST if you missed it these ladies dropped some serious knowledge and also explained what women face in the industry and how they overcame their obstacles it was off the hook!!!

As usual's I provide you with that weekly marketing tip which I will start doing daily so stay tuned to this site and to gain more knowledge or see more please check out www.moneynmusic.com



The following 5 common women-owned small business pitfalls are presented along with their solutions:

1. Marketing

Problem: Marketing is often confused with advertising. Your market is who you are trying to target with your advertising; direct mail, commercials, signs, etc. Many do not realize that if you don’t find your niche and your target market is too broad, you will waste your advertising budget.

Solution: Focus and narrow your target market to a niche you will be comfortable with and then advertise directly to them.

2. Time Management.

Many women who become self-employed do not realize that until they hire staff, they will have to wear many hats—Assistant, Messenger, Executive, etc. Along with family responsibilities, these additional roles can be very demanding.

Solution: Outsource time-consuming tasks to other individuals-that way you can focus on growing your business while someone else works on the time- consuming tasks. This will also provide an opportunity for you to still have enough time to balance family life and work.

3. Pricing.

Quoting fees too low for fear of losing a potential client or not calling for payment when a client’s invoice is overdue.

Solution: Talk to other women in your field and also find out what competitors in your area are charging. If you feel uncomfortable contacting a competitor, ask someone else do it. The same goes for collections. No small business owner can go without collecting their fees, so if you fear making the calls have someone make them for you or send letters gently requesting payment.

4. Networking.

Problem: Not Networking, Not Networking Efficiently.

Solution: Every small business owner needs to network…and broadly. Each person you meet is a possible referral or potential client. Join the business organization for your field and a women’s organization. Stay focused while you are at the networking event and be determined to achieve pre-determined goals, which were your reason for attending the event. For example: As a florist, not only do you have to network at floral design trade shows but make it a point to attend a wedding or event planning expo as well as your local chamber of commerce and women in business organization.

5. Clients.

Problem: The inability to turn down potential clients who require services that you do not offer because you are afraid to say no since you need the money.

Solution: As a self-employed individual, you have the ability to choose your work assignments but taking any assignment that comes around does not give you the opportunity to focus on what you like to do. Stick to projects that incorporate the services you offer. Let the other assignments go. This will allow you the time to work on fulfilling projects.


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