Andra's Best Business Advice

If you follow Andra on Twitter (@andrawatkins), you likely noticed that I (Lyn Mettler, @webprgirl on Twitter) was "filling in" for her this week on Twitter. What does that mean exactly? Well, I'm not pretending to be Andra, but I've been "tweeting" Andra-type messages on her behalf to keep her presence alive in Cyberspace. Andra, smart business consultant that she is, decided to take a vacation (with her husband's prodding) Internet free to relax and revive, so she can come back and continue to give us all fab business advice.

So, I also offered to do a guest blog post for her as well, and I thought I would share some of the valuable tips Andra has offered my business that has helped me grow significantly. I hope they help you too:

1) Choose your clients wisely -- In the past, I made a few mistakes in choosing which clients I wanted to work with (sorry, no names :)), but it was mostly because I did not have a good vetting process in place. Andra helped me determine what a "good" client meant to me and showed me how ensure prospective clients fit these requirements. It's so tempting, especially in a slow economy, to take any business you can get, and I was always afraid to turn down any business. But, taking on bad clients is bad for everyone - you're unhappy, they're unhappy, you may not get paid and more. Not worth it. By choosing to surround myself with good clients, I continue to find that more good clients seem to find their way to me all on their own.

2) Network outside your industry -- The Public Relations Society of America and the American Marketing Association were my two most frequented haunts as a PR professional. It's fine to network with others who work in your profession, but you're likely to get more referrals from those outside your profession. Try Rotary, Women@Work, Mt Pleasant Business Association, Business Networking International, etc. that have a mix of professionals or organizations that are related to your industry but not in your industry.

3) Don't do anything for free (or trade) -- Andra's words of wisdom: People don't value a service or product that they don't pay for. Very true when you think about it. Do you value something that's free?

4) Don't underestimate your value -- Spend some time determing an appropriate fee structure and stick to it. If a client doesn't want to pay you what you're worth, they're not a good client (see No. 1) :)

5) Set clear expectations -- Communicate your processes and expectations early with prospective clients. This includes how you update clients, your invoicing procedure, when and how you expect payment, etc. If everyone understands in the beginning, you will have fewer problems down the road.

This is just the tip of the iceburg of the great tips Andra has given me that have made a huge difference to my business. Andra, I hope I didn't give away too much of the good stuff, but I promise there is much more in that brain of hers.

Lyn Mettler
Mettler Public Relations
lmettler@mettlerpr.com

Watkins Wins Rising Star in Influential Woman in Business Awards

Andra L. Watkins, owner of POSITUS consulting llc, won the Rising Star category at the 2008 Influential Women in Business Awards. Sponsored by the Charleston Regional Business Journal (http://www.charlestonbusiness.com/), the first annual awards recognized successful business women in the Charleston area in five categories. Darla Moore was the keynote speaker for the luncheon, which was a sell-out.

For information on all the winners, check out the October 27 issue of the Charleston Regional Business Journal.

A Different Approach to a Challenging Economy

History repeats itself. It always does. Ever heard of Blacks Monday (October 28,1929 and 19,1987), Tuesday (October 29, 1929), or Thursday (October 24, 1929)? The Mini-Crash (October 27,1997)? In history, there are several other examples of the typical turmoil that is October in our markets. I’m not attempting to discount what is happening now. Several things have converged at the same time to cause a correction. Most market experts believe we will experience unrest for a while, and the days of “easy money” via easy credit are likely behind us. Markets are sometimes volatile. They just are. As small business people, we usually suffer the most during stressful economic times. Here are some tips to weather the storm that you’re not likely to see on TV or read in the newspaper. Have a POSITIVE attitude. I repeat, have a POSITIVE attitude. Business may be down for just about everyone, but business still exists to be captured. Those who proactively and positively go after new business, in spite of the economy, are likely to get more new business. A negative focus usually leads to negative behaviors that aren’t likely to bring in new business. Celebrate every new piece of business you win right now. Making a bigger deal of it than you normally would will lead to more POSITIVE thinking, a boost in morale around the workplace, and a likely snowball effect. Avoid reactive expense trimming. Cutting expenses right now without clearly evaluating which expenses are truly investments in business growth and success will guarantee revenue contraction. Take a more strategic approach. Determine which expenditures have truly paid off with increased business in the past. (If you can’t obtain from your data, you need POSITUS.) Cut expenses that are either not necessary or provide no return. Devote some of the savings to an increase in those expenditures that have led to solid business growth. Listen to your customers and provide them with creative alternatives. When the economy is great, most business people continue to do what they’ve always done. Now is the time to prove your business’ value by offering a more flexible product or service mix to existing customers, while showing how your business is different to potential new ones. Use this time to break bad business habits. When times are good, we can all afford to throw some money away, waste some time, or do things inefficiently. Focus on correcting one bad business habit, and keep it at bay when things turn back up. Consider accelerating a portion of your retirement contribution for 2008 now. Actually, Warren Buffett recommended this one, and I’m pilfering it. Your investment advisor can help you determine how much is reasonable to invest in the market right now to take advantage of the long-term growth that corrections historically bring to the market. Remember, history repeats itself. Taking a positive, pro-active approach to this downturn will make both you and your business better prepared for the next one.

POSITUS Featured by Center for Women

POSITUS consulting llc is a featured member of the Center for Women in Charleston, SC for October 2008. We are profiled in their October e-newsletter. You can view it by following this link: http://www.c4women.org/news/Newsletters/current.htm.
The Center for Women offers programs, services and support for women in the Charleston Metro area. They assist women in all walks of life and circumstances and truly live up to their motto: Helping Women Succeed Every Day. We are proud to be a member of this worthwhile organization and encourage you to consider supporting it.

Watkins an Influential Women in Business 2008 Finalist

Andra L. Watkins, principal of POSITUS consulting llc, has been selected as a finalist in the Rising Star category for Charleston's Influential Women in Business 2008. Co-sponsored by the Charleston Regional Business Journal (http://www.charlestonbusiness.com/) and the Center for Women (http://www.c4women.org/), the event recognizes Charleston area businesswomen in 5 categories: CEO, Volunteer, Philanthropist, Rising Star and Executive. We've attached the Business Journal announcement listing all the winners. If you know any of these women, please congratulate them!