The Indie Experience
March 23, 2009
A Publication of The Indie Beauty Network
ISSN 1530-9630 | Volume 10, Issue 8
To subscribe, click here
-- Media Partner --
1. Dear dM: ... Charge What Its Worth + Make A
Profit
2. Indie Speak: 10 Rockin' Indies Share Their Personal Tips For Building A Profitable
Business
3. Pick & Click: Choose your fun!
Make It Yourself!: Cucumber Coconut Skin Softener
1. A Note From dM: Charge What Its Worth + Make Your Profit
Dear dM:
"I am a trained psychologist and family counselor and have landed my first client for my home/office organizing business (my "second career"). The client wants me to lower my hourly fee or set a flat fee. The problem is I know he has the money to pay my regular fee. Do I compromise or lose the client?" Wanting To Be Fair in Maryland
Dear Wanting To Be Fair:
Fairness is an essential part of business success. But if fairness does not result in a win/win for both you and your customer, it's not really fair. Is it? Consider these examples.
- A friend who is an author and motivational speaker compromised her fee when she knew that a lot of people in her target market were already registered for the event, she would only be expected to speak for a limited time, that lunch would be included and that she could sell autographed books.
- Another speaker friend cut his regular fee by 15 percent in exchange for benefits that included detailed reciprocated links from the speaker organization's website and the original audio tape of the presentation he could later sell.
- Another issue to consider is that since this is your "second career," you bring several years of professional experience from your first career to your new business. You are not simply a professional organizer. This means that you are not just good at telling people how to be organized, but you also use your training and background to provide them with valuable insights into their personalities, which will help you recommend the best organizational tools.
Whatever you do, be sure to cover your costs and make
a fair profit. Otherwise, it's just a hobby. Charging a discounted flat fee
for your services can be an attractive option. But I recommend setting a
limit on the amount of time per week you will spend on a client that pays a
flat fee, and be careful what you promise. For example, if your hourly fee
is $100, and you agree on a flat fee of $300 for a project that will take
six hours, you are not doing yourself any favors -- unless of course you are
getting some additional non-monetary benefits from the arrangement.
There are certainly times when you should give your services away. One of
the best ways to do this is through an online newsletter or a blog that
offers free advice and counsel to readers. This allows you to share your
expertise with everyone at once as you also take advantages of the search
engine optimization benefits of publishing your information. Additionally,
you can do work for pro bono clients - a needy church, a single mom trying
to get out of the hole or a non-profit organization with a mission that you
support. But again, these activities should be supplemental to your main
financial goal as a business owner - to profit fairly from the provision of
your superb value-added professional services.
If you have a question you'd like to answer in the newsletter, please send it to me. As always, if you have suggestions, feedback or questions about how I might serve you better, please do not hesitate to send me an email message to donnamaria @ carolina dot rr dot com.
Thank you for having me again this week. I hope you have a fantastic day as you also enjoy your life, build your business and have your way!
-- Media Partner --
2. Indie Speak: 10 Rockin' Indies Share Their Personal Tips For Building A Profitable Business
It's hard to believe, but I have published this newsletter (nearly) weekly for almost 10 years. During this time, I have collected a vast amount of tips and inspirational insights from my Indie Beauty Network members. Now and then, instead of featuring a single particular business, I will share with you some of the tips my members have offered. No matter what type of business you have, Indie Beauty Network members' have suggestions, strategies, tips and insights that will work for you. Check them out!
This week: 10 Tips For Building A Profitable Business!
"Make
sure your business name domain is available and purchase it right away! I
wanted drflower.com but it was purchased a week after I looked for and found
it available. I ended up putting a dash in as a compromise. Be sure to tell
your story and why you are in business selling your product. People like
stories!" Regina Mower, Dr. Flower's Essentials.
Read Regina's Indie Feature
here.
Learn more about Regina at her Branded Group Page.
"Reserve
your domains for your business name and your own personal name. Trademark
your business, both in the US and internationally if you can. Copyright
protect your website content."
"Don't promise what you can't deliver. Don't over-promise and be realistic. Create an exit plan for your business, meaning that you have a strategy if the business doesn't work out or you don't want to do it anymore. Options included selling it, giving it to someone else or just closing up entirely. Clarify your goals and needs, especially whether or not you want to work with investors. Find friends, mentors and family members to provide you with support. Give yourself permission to change your mind, fail and move on. Ask for help before you need it." Valerie Reed, Valana Minerals. Read Valerie's Indie Feature here.
Learn more about Valerie at her Branded Group Page.
"Do
your homework. Know your goals and your product. Then, when you think you've
got it right, do it again. Expect a lot of hard work and commitment to your
goal. Don't quit your day job unless you are certain you can support
yourself in the long run in your venture, and even then, sharpen your pencil
and be creative and honest with yourself. Lots of people, most of us, dream
of being self employed. We've had the advantage of already having done both.
Self employment isn't always the pot of gold at the end of the rainbow. It
has issues of it's own. It's unlikely you will be able to provide yourself
with the same level of health benefits, retirement benefits, let alone
vacation and sick pay that you may have by working under the umbrella of a
large company any time soon." Sally Leachko, Meadowlake Farm Products.
Read Sally's Indie Feature
here.
"I
would have to say that persistence is key. When people discourage you and
tell you you're nuts, you need to press on. Not everyone understands the
entrepreneur mindset. But if you're a true entrepreneur, you'll find that
you just won't be happy doing anything else. I once tried to quit my
business altogether since it was taking time away from my family, but I just
couldn't do it! That said, you have to be smart about persevering. Know your
strengths and weaknesses: if you're more creative, find someone to help with
finances and sound business structure. Listen to advice, but realize that
only you know what's truly best for your business. I used to think there had
to be someone out there who knew better and could help me make my business
really take off. I learned the hard way (through the failed partnership) to
trust myself first. I had to build the business back from the ground up, but
I did it my way without compromises or answering to anyone." Jennifer
Bahney, Long Hair Lovers.
Read Jennifer's Indie Feature here.
Learn more about Jennifer at her Branded Group Page.
"Have
clear goals for your business and a plan for how to make it all happen.
Decide early on how you would like your business to support your life, and
allow this to guide your approach to how you run your business. Know
excellent professionals in areas of the business where you need support.
Examples includes taxes, website design, computer assistance, etc. Use good
accounting software (Andrea uses
QuickBooks) to
keep a constant eye on the financial aspects of your venture. Be sure to
deeply understand the product you sell, being sure your education is solid
so you can feel confident speaking about all your products. Andrea Butje,
Aromahead. Read Andrea's Indie
Feature here.
Learn more about Andrea at her Branded Group Page.
"You
have to work at it constantly and set hours just like you would if you were
a traditional employee. Don't get distracted from the tasks at hand, and
flat out market, market, market yourself and your products. Most
people focus so much on their products that they don’t have nearly enough
time to actually sell what they have to offer. I spend at least half of my
time marketing and most people forget about that essential component. You
can’t be all things to all people, so use outside resources to handle your
weak spots so you have the ability to capitalize on your strengths. Also,
you can’t afford to be afraid to toot your own horn. You have to tell people
what you do and how you can help them. JoAnn Hines, The Packaging Diva.
Read JoAnn's Indie Feature here.
Learn more about JoAnn at her Branded Group Page.
"For
anyone thinking about starting a business, I recommend that they research
the product or service they want to offer in advance. It is important to
know what is currently out there and think about how you can offer something
unique. In addition, before starting a business ask yourself if it's
something that you are passionate about. Would you do it for free? If your
answer is yes. You will most likely overcome any obstacles to be
successful." Nicole Perkins, Nidasii.
Read Nicole's Indie Feature here.
Learn more about Nicole at her Branded Group Page.
"I
think that some of the things that are necessary for business, such as
social media and the pursuit of media coverage, can pull you far away from
your own work and direction, and it can be challenging to keep focus. I
would tell people starting out to pay attention to what other people are
doing, and to what they are saying about you (good and bad), but to remember
to listen to yourself, as well. There are a lot of people who will only have
negative things to say, and the best thing you can do is to get far away
from them...and
join IBN, where other business owners are positive and supportive!"
Emily Caswell, GCDSpa. Read Emily's Indie
Feature here.
"Research
your particular industry well and weigh the pros and cons of starting a
business. Identify the reasons why you want to start a business. If it still
seems like a good idea after all of the checks and balances, go for it. Work
hard, accept failures and move on. Be flexible. Never let anyone tell that
you can’t. Most importantly, never give up on your dreams. Reach for the
stars! Believe!" Jean Lazoda, Jeanie Naturals.
Read Jean's Indie Feature here.
Learn more about Jean at her Branded Group Page.
"Keep
your day job for as long as you can. Work out of your home for as long as
you can. Surround yourself with friends and mentors whose opinion you value
and trust. Even if you don’t agree, they may bring up options and
considerations that will be enlightening to consider or be aware of. Stop
tweaking --as a creative person, my first thought is always to tweak and
redesign, that is my comfort zone. Well, that is not always a problem, but
you still can't just keep spinning your wheels tweaking. Get out of your
vacuum. What you are obsessing about may not be important at all. Shop your
competition. Know their prices and general product." Jennifer Kirkwood, La
Dolce Diva. Read Jennifer's Indie
Feature here.
Learn more about Jennifer at her Branded Group Page.
3. Indie Happenings: Connect, collaborate and have fun!
New @ Indie Beauty: Our new social site now has over 1,700 people, all of thirsty to connect with people who make and sell natural, handmade, artisan, Indie products. Here are some of the latest activities, discussions and fun things to do at the site:
- Indies Strut Their Stuff!
Indie Business Radio Show: Monday's guest will be Marc Karmer, author of The Small Business Turnaround: Revitalizing Your Struggling or Stagnant Enterprise. Now you know me -- I'm a tell-it-like-it-is kind of girl. And telling it like it is involves admitting that we all go through flat periods in business. If it hasn't happened to you yet, just wait a while. And be prepared. Marc will be on hand to answer questions and share his methods of revitalizing a flat business, and also share methods of minimizing the chances that it will happen to you in the first place. Join us live at 1:00pm EST Monday, March 30. You can listen to the show live at my radio show site, but if you really want to have fun, you can listen and chat at the same time at this link. (It's free of course, but login is required.)
Facebook: Join the discussion and be entered to win a $25 gift voucher for the Indie product or service of your choice! As a Facebook Group Member, you will receive early updates on new events, enjoy exclusive promotions, photo galleries, special benefits and more! Join us!
Indie Cafe: Debbie Chialtas of Soapylove will guest host the next Indie Cafe on April 6 at 10:00pm EST!! This event is for Premium IBN members only. Click here to read more and RSVP!
Enjoy your life, build your business and have your way!
Donna Maria
Editor, The Indie Experience
The Indie Beauty Network | www.indiebeauty.com
Copyright (c) 2000 - 2009 by The Indie Beauty Network (IBN) and Donna Maria. All Rights Reserved. Unauthorized distribution or reproduction is prohibited. IBN does not necessarily endorse any product, event or ideology featured in this newsletter or on IBN's website. All information is provided on an "as is" basis and no express or implied warranties are given. Any use of the information contained in this newsletter or on IBN's web site, including recipes, is solely at your own risk. IBN and Donna Maria disclaim any liability in connection with the use of all recipes, products reviewed and other information. Except for sponsorships, this newsletter refuses compensation from companies to feature or mention their names or products. Opinions expressed in any Product Review are personally those of the reviewer and do not represent the views of IBN, Donna Maria (unless she is the reviewer) or any other person or company.
