Are Business Plans Necessary?

I knew Sonam when she was a kid working at our family Dairy Queen store about 10 years ago. Recently, I learned of her new business on Facebook through a friend and decided to stop by her bakery one rainy afternoon to pick up some treats for my kids. It’s called Chocal8Kiss and it’s a brand new bakery/cafe located in Manalapan, NJ. She opened in March and is busting her back and making it work…and loving every minute of it!

“I don’t really believe in business plans”, she said as I asked her about opening up a new business in this tough economy. “I know that there is a demand for all kinds of cakes in this town – for weddings & birthdays. Especially unique and specialty cakes. And that’s what I love to do – to make cakes!”

What I find remarkable about Sonam’s story is that she’s 23 years old, has an infectious and positive personality and has just about enough energy to power a 747. She saw an open store in a strip mall in a fairly growing upper middle class town, called the landlord, got the lease and two days later, signed it! “If you over think it, you’ll never do it”, she said as she went about making a wedding cake due on the weekend.

While many of her peers who recently graduated from college are scared about the economy and trying to find a job – she goes out and opens a business! Amazing! Trained as a pastry chef at the Culinary Institute of America, Sonam worked at the Borgata Hotel & Casino in Atlantic City, NJ as a pastry chef and when she left that job, she did something not many young people do so willingly. She stayed home with her parents to save money and started the business in her mom’s kitchen! “Making cakes while living at home was not easy. The kitchen was always a mess and I couldn’t fully do what I was trying to do. After a while I couldn’t keep up with the demand so I had to make a choice. I had to either quit this freelance cake business and get a full-time normal job or go all in and just do it.”

She doesn’t mind living at home with her parents even now because she spends most of her waking hours in the bakery. And saving rent money allows her to re-invest back in her business to hire people and bring in new customers. “I never stepped foot inside a bakery before I opened my own. But I didn’t have to. I know that I’m going to make this work.” My final question to Sonam was about her friends. She exclaimed with a big smile, “I try to surrounded myself with positive people who are doers. We just do it”.

I love it! Don’t over-think it. Trust in Yourself. Just do it. Congratulations Sonam and all the best of luck!

Get Altitude on Your Business – Amazing Insights From a Seven Figure Earner!

Eben Pagan is a very smart online marketer and he went from making $0 to $5000 in just one year. I agree with you that today, it’s not a lot of money, but when you know that five years later, he was earning 25 million dollars per year, you know that he is on something.

There are no doubts that this is an amazing growth, and I will give you a couple of tips that you can use to grow your own business. I am not saying that you will get the same results, but you can use his principles to make more money online, and get more free time. How to get altitude on your business, work less and make more money?

1. Work Less
The first thing you need to do is working less. Most entrepreneurs work seven days a week, and they don’t know that it’s not good for themselves and not good for business. You really need to get out of the grey zone and take care of yourself.

2. Work on your strengths
I learned a lot from Eben Pagan, and outsourcing is one of the best techniques I learned from him. You can use websites like guru.com to find other people who can help you run your business at incredibly low rates.

3. Work with a successful mentor
Every successful people of this planet has a mentor. He will keep you accountable and keep you on track until you become successful.

Many people choose to skip this step for financial reason, but they don’t know that doing this will slow down their company.

Using LinkedIn for Business

Social media has changed the world of marketing and become a force to be reckoned with during the past few years. But it’s more than just a social affair. The social media has given individual and businesses amazing options in terms of how we create, connect and share what we have online, particularly with a niche social network like LinkedIn.

Social Networking

It’s important to understand how social networking works, particularly for those in business.

In its simplest form, social networking involves forming substantiating online social networks for communities of people who share common interests and activities. Sites like LinkedIn allow users to create personal profiles and then interact using these connections, sharing media, sending messages and blogging. Most importantly, social network enable you – and your business – to extend way beyond your personal network.

Used correctly, social networking can be an incredibly powerful tool in your business operation.

The LinkedIn Concept

LInkedIn is a network that has been established specifically for the use of professional people and businesses. And again, relating to the very basic form, it is a social networking system that enables members to not only connect with other people doing related jobs and business, but to also recommend people and businesses to other members of LinkedIn.

It can be HUGE!

Just a few months ago, in February 2013, LinkedIn announced that Hewlett-Packard (HP) had hit the 1-million mark in terms of people following them – making them the first company to achieve this milestone. This didn’t just happen. HP has, for years, considered LinkedIn as a “critical” link to their customers; and they use the network to reach and build relationships with their community of customers, as well as prospective employees and partners. No doubt they are well aware of the fact that Sir Richard Branson reaped 1-million followers on LinkedIn a very long time ago!

According to Natalie Malazenko, VP of HP’s digital marketing division, the reason their achievement is “critical” is because these million followers in turn link to more than 43-million individuals who are on the LinkedIn network. So it is enabling the company to access an enormous database of potential clients.

Of course like all social media networks, the LinkedIn concept has evolved and developed over time. One of the most notable changes was introduced in 2010, allowing members to “follow” various companies. This is similar to Twitter, but is has a different impact.

In 2012 LinkedIn introduced a “follow company” option that can be embedded on web pages, and which makes it easier for people looking for jobs, and companies looking to hire, to connect.

There is no doubt that using LinkedIn for business will help you to leverage the playing field and compete very successfully in your own area of business expertise. It is also an amazing tool that you can use to grow your business.